The Utility Tractor Market size is estimated at USD 40.68 billion in 2023, and is expected to reach USD 50.65 billion by 2028, growing at a CAGR of 4.48% during the forecast period (2023-2028).
The utility tractors market is highly consolidated, with few players cornering most of the market share. Deere & Company, CNH Industrial, AGCO Corporation, CLAAS KGaA mbH, and Mahindra & Mahindra Corporation are major players in this market. New product launches, partnerships, and acquisitions are the major strategies the leading global companies adopt. Along with innovations and expansions, investments in R&D and developing novel product portfolios will likely be crucial strategies in the coming years.
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