2 Wheel Drive Tractors to Continue Dominating Middle East and Africa Tractor Market through 2023
Growing agriculture, construction and
infrastructure sectors coupled with affordable interest rates on tractors to
drive Middle East & Africa tractor market through 2023
According
to TechSci Research report, “Middle
East & Africa Tractor Market By Power Output, By Drive Type, By
Application, By Country, Competition Forecast & Opportunities, 2023”, Middle East & Africa tractor market is
projected to reach $ 250 million by 2023, owing to recovering infrastructure
and construction projects in the region. Major construction projects such as Al
Maktoum Airport, (Dubai), Jubail II, (Saudi Arabia), Dubailand, (Dubai), etc., which
are in pipeline right now, would augment demand for tractors across Middle East
& Africa in the coming years. Furthermore, increasing efforts by
governments to make purchase of tractors easy for farmers by decreasing
interest rates on financing of tractors is anticipated to steer growth in
Middle East & Africa tractor market during forecast period.
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Over the last few years, increasing industrialization and growing
e-commerce sectors have been pushing demand for tractors across Middle East
& Africa. This trend is likely to continue during forecast period as well. On
account of large population and increasing agricultural needs, South Africa
grabbed the largest share in Middle East & Africa tractor market in 2017. Among
drive types, 2-wheel drive tractors are widely used in agriculture,
construction and mining sectors in MEA region, as they are capable of carrying more
weight, allow rapid unloading and provide better traction and stability. Owing
to aforementioned advantages, 2-wheel drive tractor segment is expected to maintain
its dominance over the next five years as well.
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“Increasing focus of automakers towards producing affordable yet
reliable tractors, along with growing inclination of agricultural machinery
manufacturers towards small-sized tractors, is expected to positively impact
Middle East & Africa tractor market. Moreover, technological advancements
in the tractor industry, such as use of GPS and other wireless technologies and
emergence of autonomous tractors is further likely to steer growth in Middle
East & Africa tractor market in the coming years.” said Mr. Karan Chechi,
Research Director with TechSci Research, a research based global management
consulting firm.
“Middle East & Africa
Tractor Market By Power Output, By Drive Type, By Application, By Country,
Competition Forecast & Opportunities, 2023” has analyzed the potential of tractor market across the Middle
East & Africa region, and provides statistics and information on market
sizes, shares and trends. The report will suffice in providing the intending
clients with cutting-edge market intelligence and help them in taking sound
investment decisions. Besides, the report also identifies and analyzes emerging
trends along with essential drivers and key challenges faced by Middle East
& Africa tractor market.
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