Global Farm Tractors
Global farm tractor demand is projected to increase 7.0% annually to $77.8 billion in 2026. However, a significant portion of market value growth – particularly during the first half of the forecast period – will be mostly the result of higher prices that have resulted from high rates of inflation around the world, supply chain issues, and a chip shortage. In unit terms, demand will increase just 1.1% per year off of a relatively healthy 2021 base. Real gains are expected to grow at a faster pace in the latter part of the forecast period as the global economy continues to normalize. Growth in this period will be bolstered by:
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