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The Europe tractor market size witnessed shipments of 158,231 units in 2022, which is expected to reach 200,449 units by 2028

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New York, Jan. 17, 2023 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “Europe Tractor Market – Industry Analysis & Forecast 2023-2028” – https://www.reportlinker.com/p06380011/?utm_source=GNW
growing at a CAGR of 4.02% during the forecast period.

MARKET TRENDS & OPPORTUNITIES

Increasing Use of Bioenergy in Tractors

Conventionally, farmers used diesel engine tractors known for their high power. Tractors are now more efficient and can complete tasks with fewer power requirements due to advances in machine technologies, fuel, and engines. The volatility in diesel prices hampers the budget management of farmers. Farm-produced bio-based energy can already be used to power several new, cutting-edge models of agricultural machinery.

Technological Advance in Tractor Technology

A new frontier of innovation emerged as agriculture met digital technology, opening various paths to a smart agricultural future in the Europe tractor market. Tractor manufacturers are competitive, and companies constantly strive to innovate and ensure product differentiation at affordable prices. State-of-the-art technology-based tractors are currently available in the market. GPS and remote sensing make farming more accurate and productive.

INDUSTRY RESTRAINTS

Lack of Awareness of the Latest Agricultural Equipment Innovations

There are many innovations and advances in the agricultural sector and agriculture tractors and machinery. Agriculture scientists develop ways to increase yield using innovative and efficient machinery. Implementing modern equipment and systems and adopting advanced scientific methods such as artificial intelligence help farmers make better decisions. The number of farmers unaware of the latest innovations in agriculture technologies and equipment is very high in Europe. This is mainly due to limited awareness and information among the farming community. The resistance from farmers to change and update their farming practices is another reason for the low adoption of the latest agricultural machinery. Such factors are expected to hamper the growth of the Europe tractor market during the forecast period.

SEGMENTATION INSIGHTS

• The Europe tractor market is categorized into segments based on the engine power output of tractors: less than 50 HP, 50–100 HP, and above 100 HP. In 2022, Europe’s 50-100 HP segment recorded the highest growth, with a share of 40.9% in the market in 2022. The major factor for the steady growth of the medium-power range of tractors is the increased business turnover among hobby and livestock farmers. The sales of Above 100 HP tractors in the country are expected to remain steady during the forecast period as farm sales are likely to remain the same in the coming years.
• The Europe tractor market is dominated by mid-range HP 2WD tractors. Among the several tractor models available in the region, 2WD tractors are the most favored by farmers. The low relative cost of ownership, the sufficiency of features and haulage power, and convention make 2WD tractors more popular among farmers. Europe tractor market players are trying to redesign their 2WD tractors with more power and ease of handling features so that farmers can upgrade their tractors and buy new ones per their usage. Features such as fuel efficiency, added comfort for operating in confined spaces, and light loading work is expected to be in demand in several agricultural economies. John Deere, New Holland, and Fendt hold the majority shares of the 2-wheel drive tractors segment.

Segmentation by Horsepower
• Less than 50 HP
• 50–100 HP
• Above 100 HP

Segmentation by Drive Type
• 2-Wheel-Drive
• 4-Wheel-Drive

GEOGRAPHICAL ANALYSIS
France holds the most prominent Europe tractor market share, with an overall unit registration of 36,423 units by November 2022. The increase in crop production and tractor sales resulted from favorable monsoon rains in 2020 and 2021, which helped the country to recover from the drought-induced low in 2017 and the COVID-19 pandemic. Moreover, the country has to increase its production capacity manifolds to feed the ever-growing population, which stood at 67.4 million in 2021. The production of major crops in the country increased from 2020 compared to the last seven years. This increase can be attributed to the fact that French farmers have started to adopt farm mechanization practices and are improving their crop production by reducing the yield gap.

Germany held the second-largest Europe tractor market share in 2022, with overall sales of 33,676 units. The significant upcoming trend in the German agriculture scene is the feminization of agriculture due to the migration of men to urban cities, which drives the need to purchase tractors and other agricultural machinery to perform farming activities. Women are emerging in several roles, such as laborers, cultivators, and Agri- entrepreneurs. Tractors in the 50–100 HP power range likely be Germany’s largest contributor to the tractor industry.

Segmentation by Geography

• Europe
o France
o Germany
o Italy
o UK
o Poland
o Spain
o Others
Austria
Belgium
Sweden
Netherlands
Czech Republic
Portugal

COMPETITIVE LANDSCAPE

• John Deere and New Holland dominated the Europe agriculture tractor market with a collective industry share of over 25% in 2022. The threat of rivalry is high in the Europe tractor market since more than 40% of the share is held by the top five players.
• In March 2022, John Deere launched the new electric variable transmission (EVT) for select 8 Series Tractors and a new JD14X engine for 9 Series.
• Massey Ferguson launched the MF 6S series tractors in February 2022. This machine provides up to 180 HP with advanced technology.
• Massey Ferguson launched the MF 8S series tractors in July 2020. A guard-u install engine and a neo-retro design distinguish this series of tractors. These tractors are designed to advance smart farming technologies.
• In March 2021, CNH Industrial partnered with Monarch Tractors, a US-based agri-technology company, to improve long-term sustainability and raise awareness of the importance of zero-emission agriculture among farmers.

Key Vendors
• John Deere
• CNH Industrial
• AGCO
• Kubota

Other Prominent Vendors
• Zetor
• Mahindra & Mahindra
• Escorts
• JCB
• Foton Motor
• MTW Holdings
• SDF
• Arbos Group
• Yanmar

WHY SHOULD YOU BUY THIS REPORT?

This Europe tractor market report is among the few in the market that offer outlook and opportunity analyses forecast in terms of:
• Market Size & Forecast Volume (Units) 2020–2028
a) Segmentation by Horsepower
b) Segmentation by Wheel Drive
c) Segmentation by Geography
• Production and trade values
• Major current and upcoming projects and investments
• Competitive intelligence about the economic scenario, advantages in Europe, industry dynamics, and market shares
• Latest and innovative technologies
• COVID-19 impact analysis of the industry
• Company profiles of major and other prominent vendors
• Industry shares of major vendors

KEY QUESTIONS ANSWERED:

1. How big is the Europe tractor market?
2. What is the growth rate of the Europe Tractor Market?
3. What are the expected units sold in the Europe tractor market by 2028?
4. Who are the key players in the Europe tractor market?
5. Which wheel drive holds the highest Europe tractor market share?
6. Which country dominates the Europe tractor market?
Read the full report: https://www.reportlinker.com/p06380011/?utm_source=GNW

About Reportlinker
ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need – instantly, in one place.

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LambdaTest launches LambdaTest extension for GitHub Copilot to make test automation pervasive across SDLC and drive developer productivity

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NOIDA, India and SAN FRANCISCO, May 22, 2024 /PRNewswire/ — LambdaTest extension for GitHub Copilot enables AI-powered bridge experiences by seamlessly integrating test and dev workflow. It acts as a test automation copilot, assisting developers with quality assurance capabilities across different stages in SDLC, right where they code.

May 22, 2024, Noida/San Francisco: LambdaTest, a leading cloud-based unified testing platform, announced the launch of the LambdaTest extension for GitHub Copilot. This innovative capability revolutionizes the way developers manage and execute test workflows within their integrated development environments (IDEs).
The LambdaTest extension seamlessly integrates with GitHub Copilot Chat bridging the gap between development and testing workflows. Developers can now trigger test execution directly from their GitHub and VS Code environment, eliminating the need to switch between multiple applications. This streamlined process enhances productivity and accelerates software delivery.
With LambdaTest extension, developers can initiate tests effortlessly with a simple command, bringing testing closer to their code. This capability not only saves time but also enhances collaboration among development and testing teams by providing a unified platform for managing quality software releases, faster.
Moreover, real-time feedback integrated into GitHub Copilot empowers developers to iterate more efficiently, at speed, ensuring the quality and stability of their codebase. By conveniently viewing regression run results within their coding environment, developers and testers can quickly identify and address potential issues or bugs, facilitating faster resolution and delivery of high-quality software.
“LambdaTest Extension for GitHub Copilot is a huge milestone in our commitment to enable devs and QA processionals worldwide with frictionless experiences to accelerate software delivery.,” said Mohit Juneja, VP, Strategic Sales and Partnerships, LambdaTest. “Gone are the days of switching between multiple applications; now, developers can design, trigger, and analyze tests with simple prompts in natural language, without switching context from the IDE.”
The benefits of the LambdaTest extension extend beyond just test execution. It also offers powerful analysis tools, allowing developers to dive deep into test data, identify trends, and make data-driven decisions to continuously improve code quality and stability.
LambdaTest remains committed to driving innovation in the field of software testing, and this capability is another testament to that commitment. By providing developers and testers with tools to streamline processes and deliver high-quality software efficiently, LambdaTest continues to support and empower software development teams worldwide.
The LambdaTest extension for GitHub Copilot is now available for developers and testers. To learn more and get started, visit https://github.blog/2024-05-21-introducing-github-copilot-extensions
About LambdaTest LambdaTest is an intelligent and omnichannel enterprise execution environment that helps businesses drastically reduce time to market through Just in Time Test Orchestration (JITTO), ensuring quality releases and accelerated digital transformation. Over 10,000+ enterprise customers and 2+ million users across 130+ countries rely on LambdaTest for their testing needs.
Browser & App Testing Cloud allows users to run both manual and automated tests of web and mobile apps across 3000+ different browsers, real devices, and operating system environments.HyperExecute helps customers run and orchestrate test grids in the cloud for any framework and programming language at blazing-fast speeds to cut down on quality test time, helping developers build software faster.For more information, please visit, https://lambdatest.com
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DeepL announces $300 million investment at $2 billion valuation fueled by global demand for AI language solutions

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Index Ventures led heavily oversubscribed round with participation from late-stage investment firms ICONIQ Growth, Teachers’ Venture Growth, and more Rapid enterprise adoption of DeepL has fueled the company’s growth in 60+ global markets for 100,000+ businesses, governments, and other organizationsDeepL’s Language AI Platform for business provides category-leading AI-powered translation and writing solutions COLOGNE, Germany, May 22, 2024 /PRNewswire/ — DeepL, a leading Language AI company, today announced $300 million of investment at a $2 billion valuation. Led by Index Ventures, the heavily oversubscribed round attracted strong support from new investors, who will bring their extensive expertise, connections, and resources to support DeepL’s growth and long-term vision to transform the way companies communicate around the world. Additional late-stage investors, including ICONIQ Growth, Teachers’ Venture Growth, and others, also participated, along with existing investors IVP, Atomico, and WiL.

“We’re approaching an inflection point in the AI boom where businesses who are racing to adopt the technology begin to discern between hype versus solutions that are secure and actually solve real problems in their business,” said Jarek Kutylowski, founder and CEO of DeepL. “This new investment comes during what is on track to be DeepL’s most transformative year yet and is a testament to the crucial role that our Language AI platform has in solving the complex linguistic challenges global companies face today. We’re highly focused on continued growth and innovation to expand our solutions and ensure they remain industry-leading in terms of quality, precision, and security. This will bring us closer to a future where every company, regardless of location, can operate seamlessly on a global scale with our AI.”
The new investment comes during a period of significant growth and momentum for DeepL, which has amassed a customer network of 100,000+ businesses, governments, and other organizations worldwide. This network includes Zendesk, Nikkei, Coursera, and Deutsche Bahn, who rely on its highly accurate and secure enterprise Language AI platform to deliver seamless communication, driving international growth and cost savings. In response to surging demand from global enterprises, DeepL has accelerated its expansion efforts and strategic investments into key markets over the past year. In January 2024, DeepL deepened its commitment to the U.S.—now its third largest market—by opening its first office in the region. The company continues to expand its team in the U.S. to support growing demand.
Within the last 12 months, DeepL has also substantially broadened its product offerings tailored for businesses. In April 2024, the company launched DeepL Write Pro, a writing assistant specifically tailored for business writing, powered by its own proprietary LLM technology. The company also continues to expand the range of languages supported by its platform with the recent additions of Arabic, as well as Korean and Norwegian, bringing its total number of languages to 32.
“DeepL’s runaway success is a bit of an ‘open secret’ in the business community,” said Danny Rimer, who led the investment from Index Ventures. “The company is exceptionally thoughtful about creating cutting-edge AI products that deliver real and immediate value to their customers. Jarek and the rest of the DeepL team are equally research and commercially minded – both of which are key to the company’s success.” Index Ventures is recognized for its investments in highly successful SaaS businesses like Figma, Slack, Wiz, and Scale AI.
Demand for AI solutions among global enterprises is on the rise. A recent IBM study found that 42% are already actively deploying AI and 40% are exploring its potential. Within this rapidly evolving landscape, DeepL is leading the way in applying AI to transform the $67.9 billion language industry, which is projected to grow to $95.3 billion by 2028.
Since its inception in 2017, DeepL has become the Language AI provider of choice for businesses across multiple industries including manufacturing, legal, retail, healthcare, technology, and professional services. The company’s specialized Language AI platform has become a critical investment for global businesses today, addressing a variety of communication challenges ranging from internal communications to customer support and international market expansion. Unlike general-purpose AI systems, DeepL’s cutting-edge translation and writing solutions rely on specialized AI models specifically tuned for language, resulting in more precise translations for a variety of use cases and a reduced risk of hallucinations and misinformation. In business translation and writing, accuracy is paramount, making specialized AI models the most reliable and preferred solution for language challenges.
DeepL’s Language AI platform is also proven to drive significant cost savings and efficiencies. A 2024 Forrester study revealed that the use of DeepL delivered 345% ROI for global companies, reducing translation time by 90% and driving a 50% in workload reduction, underscoring, in our opinion, the power of its platform for businesses looking to grow their revenue and enter new markets faster and at scale.
“At Zendesk we see first hand the power of infusing AI tools into customer experience, and DeepL’s industry-leading translation is a prime example,” said Adrian McDermott, CTO, Zendesk. “The ability to have accurate AI translation allows companies from startups to large enterprises the ability to scale globally, reaching prospects and existing customers in new ways. Zendesk’s open and flexible platform allows for seamless partnerships, and the tangible results we’ve seen so far from joint customers have us looking forward to continued work with DeepL.”
Looking ahead, DeepL will continue to invest in research and product innovation to strengthen its suite of leading AI communication tools for businesses. The company is also doubling down on global market expansion and talent recruitment across multiple areas including AI research, product, engineering, and GTM.
 
About DeepLDeepL is on a mission to break down language barriers for businesses everywhere. Over 100,000 businesses, governments and other organizations and millions of individuals in 63 global markets trust DeepL’s Language AI platform for human-like translation and better writing. Designed with enterprise security in mind, companies around the world leverage DeepL’s AI solutions that are specifically tuned for language to transform business communications, expand markets and improve productivity. Founded in 2017 by CEO Jaroslaw (Jarek) Kutylowski, DeepL today has over 900 passionate employees and is supported by world-renowned investors including Benchmark, IVP and Index Ventures.
Contact:Sebastian RiesOpeners [email protected]+49 1578 058 8488
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Hyundai Motor and Plus Announce Collaboration to Demonstrate First Level 4 Autonomous Fuel Cell Electric Truck in the U.S.

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Hyundai Motor and Plus collaboration aims to enhance road safety and freight efficiencies by demonstrating benefits of XCIENT Fuel Cell truck equipped with Plus’s Level 4 autonomous driving softwareHyundai Motor’s Class 8 XCIENT Fuel Cell truck featuring Plus’s Level 4 SuperDrive™ system is on display at the Plus ACT Expo booth (#2044)LAS VEGAS and SEOUL, South Korea, May 22, 2024 /PRNewswire/ — Hyundai Motor Company (Hyundai Motor) and autonomous driving software leader Plus today unveiled the first Level 4 autonomous Class 8 hydrogen fuel cell electric truck in the U.S. at the Advanced Clean Transportation (ACT) Expo, the largest advanced clean transportation technology and fleet event in North America.

A result of the collaboration between Hyundai Motor and Plus, Hyundai Motor’s XCIENT Fuel Cell truck, equipped with Plus SuperDrive™ Level 4 autonomous driving technology, is on display at the Plus ACT Expo booth (#2044).
The Level 4 autonomous XCIENT Fuel Cell truck is undergoing initial autonomous driving assessments in the U.S., making it the first-ever Level 4 self-driving test on a Class 8 fuel cell electric truck to take place in the country. The collaboration seeks to show that autonomous hydrogen fuel cell trucks can help make trucking safer, more efficient, and more sustainable.
“We are excited to showcase our collaboration with Plus to test Level 4 autonomous driving technology with our Class 8 XCIENT Fuel Cell truck,” said Martin Zeilinger, Executive Vice President and Head of Commercial Vehicle Development at Hyundai. “Hyundai Motor has been driving the energy transition paradigm with our advanced fuel cell technologies. By adding autonomous capabilities to our world’s first mass-produced hydrogen-powered XCIENT Fuel Cell truck, Hyundai is looking forward to providing fleets and vehicle operators additional solutions that enhance road safety and freight efficiencies thanks to Plus’s industry-leading autonomous driving technology.”
First introduced in 2020, Hyundai Motor’s XCIENT Fuel Cell truck has conducted commercial operations in eight countries worldwide, establishing a successful track record of real-world applications and technological reliability.
At last year’s ACT Expo, Hyundai introduced XCIENT Fuel Cell tractor, the commercialized Class 8 6×4 fuel cell electric model, powered by two 90kW hydrogen fuel cell systems and a 350kW e-motor, providing a driving range of over 450 miles per charge even when fully loaded.
Plus’s SuperDrive™ solution is being deployed across the U.S., Europe, and Australia. The system uses a combination of cutting-edge sensors, including LiDAR, radar and cameras, to provide surround perception, planning, prediction and self-driving capabilities.
“We are thrilled to collaborate with Hyundai Motor Company on this important initiative to create more sustainable and safe transportation options. A decarbonized future with autonomous hydrogen fuel cell electric trucks that also improve safety and efficiency is one that Plus is proud to support with our cutting-edge autonomous driving technology,” said Shawn Kerrigan, COO and Co-Founder at Plus.
Hyundai Motor and Plus have released a video highlighting their collaboration, which can be seen here: https://www.youtube.com/watch?v=_d19h_v7abo.  
About Hyundai Motor Company
More information about Hyundai Motor and its products can be found at: https://www.hyundai.com/worldwide/en/ or Newsroom: Media Hub by Hyundai
About Plus
For more information, visit http://www.plus.ai/.
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