Press Release

South America Tractor Market, Led by 2-wheel Drive Tractors, to Reach $ 4 Billion by 2023

Improvements in road infrastructure along with increasing demand from e-commerce sector to boost tractor sales across South America region during forecast period

According to TechSci Research report, South America Tractor Market By Power Output, By Drive Type, By Application, By Country, Competition Forecast & Opportunities, 2013-2023, South America truck market is projected to surpass $ 4 billion by 2023, due to continuous improvement of road infrastructure and rising number of construction activities in the region’s emerging economies. Moreover, rising adoption of tractors in place of farm animals to plough the field coupled with surging labor costs is further likely to steer growth in South America tractor market in the coming years.

Browse 26 market data Figures spread through 51 Pages and an in-depth TOC on "South America Tractor Market"

On the basis of drive type, South America tractor market is segmented into 2-wheel drive and 4-wheel drive. The 2-wheel drive tractors segment dominated the market in 2017, and the segment is expected to continue its dominance during forecast period as well due to extensive use of 2-wheel drive tractors in agriculture, construction and mining sectors, as these tractors provide better traction and stability and can carry more weight apart from allowing rapid unloading. Below 40 HP tractors accounted for the largest share in South America tractor market on the back of rising concerns regarding environmental pollution.

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“Easy availability of finance for the purchase of tractors and emergence of autonomous tractors backed by technological advancements in the automotive industry is pushing demand for tractors across various countries of South America. Moreover, various leading manufacturers are focussing on increasing production of tractors and expanding their product portfolio, which would have a significant positive impact on the region’s tractor market going forward.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

South America Tractor Market By Power Output, By Drive Type, By Application, By Country, Competition Forecast & Opportunities, 2013-2023 has analyzed the potential of tractor market across the South America 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 South America tractor market.

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Relevant Reports

South America Tractor Market By Power Output (>40 HP, 40 HP & Under 40 HP & 100 HP & Above), By Drive Type (2-wheel Drive & 4-wheel Drive), By Application (Agriculture & Non-Agriculture), Competition, Forecast & Opportunities,

Automotive | Oct, 2023

The major drivers for the South America tractor market include the region's expanding agricultural sector, increasing mechanization to improve farm productivity, and government initiatives to support agriculture through subsidies and incentives for tractor purchases.

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