The global Farm Trucks Market is set to experience a period of robust growth owing to steadily increasing world population. Fortune Business Insights shares this information in its new report, titled “Farm Trucks Market Size, Share and Industry Analysis, By Type (Wheeled Trucks, Tracked Trucks), By Application (Land Development, Harvesting, After Agro Processing) and Regional Forecast, 2020-2027”. Additionally, the report provides:
- Meticulous research into the market drivers, trends, factors, and restraints;
- Detailed assessment of the market segments;
- 360-degree analysis of overall industry outlook;
- Projections of future prospects of the market; and
- In-depth evaluation of the regional and competitive dynamics characterizing the market.
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Market Drivers and Trends:
- Growing world population According to the UN Department of Economic and Social Affairs (DESA), global population is expected to reach 8.6 billion by 2030 and 9.8 billion by 2050. As a result, demand for food is likely to spike in the next decade, boding well for the Farm Trucks Market growth.
- Increasing need to narrow food security gaps Numbers released by the World Bank reveal that around 151 million children below the age of 5 are suffering from chronic malnutrition. Moreover, close to 2 billion people worldwide are deficient in essential micronutrients to be productive and ward off diseases. This would necessitate elevating agricultural productivity, which will be one the key Farm Trucks Market trends.
- Development of revolutionary technologies The agriculture sector is undergoing rapid transformations on account of introduction of next-generation technologies. For example, governments and academic institutions are increasingly investing in developing genome editing tools such as CRISPR to build higher pest resistance in crops and increase their capacity to create food. Other advanced technologies such as blockchain, AI, and IoT are also enhancing the Farm Trucks Market potential in the forthcoming years.
Major Segments includes:
- Wheeled Trucks
- Tracked Trucks
- Land Development
- After Agro Processing
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Major players are adopting different strategies, such as mergers and acquisitions, new product launches, and strategic collaborations, to gain a competitive edge in the market.
Some of the key players covered in the Farm Trucks Market report include
- John Deere,
- Mahindra and Mahindra,
- AGCO Corporation,
- Kubota Corporation,
- CNH Industrial N.V.,
- Tractors and Farm Equipment’s Ltd.,
- International Tractors Ltd.,
- Iseki and Co., Ltd.,
- Alamo group Inc., and Others.
This market has been segmented into different regions such as North America, Europe, and Asia-Pacific. Among these, is anticipated to dominate the Farm Trucks Market share during the forecast period
Major Table of Content for Farm Trucks Market:
- Executive Summary
- Market Dynamics
- Key Insights
- Global Farm Trucks Market Analysis, Insights and Forecast, 2014-2026
- North America Farm Trucks Market Analysis, Insights and Forecast, 2014-2026
- Europe Farm Trucks Market Analysis, Insights and Forecast, 2014-2026
- Asia Pacific Farm Trucks Market Analysis, Insights and Forecast, 2014-2026
- Middle East and Africa Farm Trucks Market Analysis, Insights and Forecast, 2014-2026
- Latin America Farm Trucks Market Analysis, Insights and Forecast, 2014-2026
- Competitive Landscape
- Company Profile
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