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Farm Tractors - Market Analysis, Trends, and Forecasts

  • ID: 2531232
  • Report
  • October 2019
  • Region: Global
  • 462 Pages
  • Global Industry Analysts, Inc
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The Farm Tractors market worldwide is projected to grow by US$32.8 Billion, driven by a compounded growth of 6.4%. < 30 HP, one of the segments analyzed and sized in this study, displays the potential to grow at over 6.8%. The shifting dynamics supporting this growth makes it critical for businesses in this space to keep abreast of the changing pulse of the market. Poised to reach over US$60.7 Billion by the year 2025, < 30 HP will bring in healthy gains adding significant momentum to global growth.

Representing the developed world, the United States will maintain a 4.8% growth momentum. Within Europe, which continues to remain an important element in the world economy, Germany will add over US$852.6 Million to the region's size and clout in the next 5 to 6 years. Over US$2.8 Billion worth of projected demand in the region will come from the rest of the European markets. In Japan, < 30 HP will reach a market size of US$1.7 Billion by the close of the analysis period. As the world’s second largest economy and the new game changer in global markets, China exhibits the potential to grow at 8.2% over the next couple of years and add approximately US$12.4 Billion in terms of addressable opportunity for the picking by aspiring businesses and their astute leaders.

Presented in visually rich graphics are these and many more need-to-know quantitative data important in ensuring quality of strategy decisions, be it entry into new markets or allocation of resources within a portfolio. Several macroeconomic factors and internal market forces will shape growth and development of demand patterns in emerging countries in Asia-Pacific, Latin America and the Middle East. All research viewpoints presented are based on validated engagements from influencers in the market, whose opinions supersede all other research methodologies.

Competitors identified in this market include:
  • AGCO Corporation
  • Antonio Carraro
  • Argo Tractors S.p.A.
  • Changzhou Dongfeng Agricultural Machinery Group Co., Ltd.
  • CLAAS KGaA mbH
  • CNH Industrial N.V.
  • Steyr Landmaschinentechnik AG
  • Daedong-USA, Inc. KIOTI Tractor Division
  • Deere & Company (John Deere)
  • Escorts Group
  • Force Motors Ltd.
  • Indo Farm Equipment Limited.
  • Iseki & Co. Ltd
  • Kubota Corporation
  • Mahindra and Mahindra Ltd.
  • Pronar Sp. z o.o.
  • SDF S.p.A.
  • Sonalika International Tractors Ltd
  • Tractors and Farm Equipment Ltd. (TAFE)
  • Traktorenwerk Lindner GmbH
  • Yanmar Agricultural Machinery Manufacturing Co., Ltd.
  • Zetor Tractors A.S (Czechia).
Note: Product cover images may vary from those shown
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I. INTRODUCTION, METHODOLOGY & PRODUCT DEFINITIONS

II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW

Farm Tractors: A Prelude

Different Types of Farm Tractors

Tractors – The Workhorses of Agriculture

Growth Drivers in a Nutshell

Key Challenges

Farm Tractors Market Back on Track

Global Farm Tractors Market Estimates and Projections in Units by Region/Country: 2018 to 2025

Global Farm Tractors Market by Region/Country: A Historic Review in Units for 2009-2017

Global Farm Tractors Market Share Breakdown by Region/Country: 2009 VS 2019 VS 2025

Population Growth & Demand for Food to Create Long-Term Stability in Growth

Emerging Economies Drive Market Expansion

Competition: Fierce Competition Keeps Farm Tractor Makers on Toes

Farm Tractors Competitor Market Share Scenario Worldwide (in %): 2019 & 2025

2. FOCUS ON SELECT PLAYERS

3. MARKET TRENDS & DRIVERS

Increasing Mechanization of Farming Practices Drives Sales of Tractors

Percentage of Population Engaged in Agriculture for Select Countries

Robust Demand for Advanced Tractors in Developed Markets

Strong Adoption across Industrializing Nations

Agricultural Labor Shortage & Rising Labor Wages to Spur Demand for Tractors

Shrinking Labor for Agriculture Benefits Demand for Tractors: Percentage (%) of Agricultural Workers in the Global Workforce for the Years 1992, 2019 & 2022

Food Security Drives Governments to Stress on Improving Productivity

Growing Agricultural Trade Worldwide to Create Major Opportunities for Farm Tractor Vendors

Global Prices of Cereals in US$ per Ton for the Years 2019 and 2025

Farm Consolidation to Lead to Demand for Larger Tractors

Autonomous Farm Tractor to Become an Essential Constituent of Precision Agriculture

Growing Investments in Smart Agriculture Bodes Well for the Adoption of Autonomous Tractors: Global Smart Agriculture Market Worldwide (In US$ Billion) for the Years 2019 & 2024

Technological Innovations to Drive Productivity in Agriculture

Renting Farm Equipment and Tractors Picking Up Pace

Expanding Global Population & Increase in Agricultural Output to Drive Demand for Tractors

World Population by Geographic Region (2018-2050) (in Thousands)

Focus on Precision Farming Lends Traction to Tractor Sales

Technological Innovations in Farming Equipment Lead the Way

Technologically Advanced Tractors Gain Prominence in Developed Markets

Comfort Features: An Important Value Addition Gaining Traction

Alternative Fuel Tractors: An Important Product Development in the Coming Years

Small Tractors Gain Ground in Developing Regions

Certified Used Machines are Catching Up Globally

Rising Demand for Energy Crops: A Business Case for Farm Tractors

World Biodiesel Production & Consumption in Million Liters for the Years 2019 through 2025

World Ethanol Production & Consumption in Million Liters for the Years 2019 through 2025

Biodiesel Production and Consumption in Thousand Barrels per Day by Select Countries

Average Biofuel Yields of First Generation Feedstocks

4. GLOBAL MARKET PERSPECTIVE

III. MARKET ANALYSIS

GEOGRAPHIC MARKET ANALYSIS

UNITED STATES

Two-Wheel Drive (2WD) Tractors Dominate the Farm Tractors Market

Buyer Focus on Functionality and Comfort on the Rise

Robots to Drive Farm Tractors

Competitive Scenario

US Farm Tractors Market Share (in %) by Company: 2019 & 2025

Agricultural Statistics

Average Farm Size (in Acres) in the US: 2007-2018

Number of Farms in the US: 2011-2018

Annual U.S. Farm Income (US$ Billion) for the Years 2012 through 2019

CANADA

JAPAN

CHINA

High-Power Tractors Witness Growth

Chinese Agricultural Equipment Sales to Skyrocket

Government Initiatives to Boost Domestic Agricultural Machinery Sector

Major Factors Influencing Farm Equipment Purchases

EUROPE

European Tractors Market: A Highly Concentrated One

European Farm Tractors Market Estimates and Forecasts in Units by Region/Country: 2018 to 2025

European Farm Tractors Historic Market Review by Region/Country in Units: 2009-2017

Farm Tractors Market in Europe: Percentage Share Breakdown of Unit Sales by Region/Country for 2009, 2019, and 2025

Tractor Technology Trends in Europe

Overview of European Agricultural Machinery Market

FRANCE

Competitive Scenario – A Relatively Consolidated Market

Farm Tractor Brands Market Share (in %) in France: 2019

GERMANY

Competition

Farm Tractor Brands Market Share (in %) in Germany: 2019

ITALY

UNITED KINGDOM

SPAIN

RUSSIA

REST OF EUROPE

ASIA-PACIFIC

Asia-Pacific Farm Tractors Market Growth Prospects in Units by Region/Country for the Period 2018-2025

Farm Tractors Historic Market Analysis in Asia-Pacific in Units by Region/Country: 2009-2017

Asia-Pacific Farm Tractors Market by Region/Country: Percentage Breakdown of Unit Sales for 2009, 2019, and 2025

AUSTRALIA

INDIA

Indian Tractor Market Prospects Heavily Tied to Farm Income

Small Tractors Gain Market

Government Initiatives to Benefit Market

Overview of Agricultural Mechanization in India

Threats to Agricultural Equipment Sector

SOUTH KOREA

REST OF ASIA-PACIFIC

LATIN AMERICA

TABLE 130: Latin American Farm Tractors Market Growth Prospects in Units by Region/Country for the Period 2018-2025

TABLE 131: Farm Tractors Historic Market Analysis in Latin America in Units by Region/Country: 2009-2017

TABLE 132: Latin American Farm Tractors Market by Region/Country: Percentage Breakdown of Unit Sales for 2009, 2019, and 2025

ARGENTINA

BRAZIL

MEXICO

REST OF LATIN AMERICA

MIDDLE EAST

IRAN

ISRAEL

SAUDI ARABIA

UNITED ARAB EMIRATES

REST OF MIDDLE EAST

AFRICA

IV. COMPETITION

AGCO CORPORATION

AGCO GMBH - FENDT

MASSEY FERGUSON

AGCO LTD. (MASSEY FERGUSON)

VALTRA INC.

AGRIA HISPANIA SL

AGRIA-WERKE GMBH

AMISY MACHINERY

ANTONIO CARRARO SPA

ARBOS GROUP

ARGO TRACTORS SPA

ARGO TRACTORS SPA - LANDINI SPA

MCCORMICK NORTH AMERICA

BONAVENO TRATTORI SRL

BUCHER INDUSTRIES AG

BUHLER INDUSTRIES

BUHLER INDUSTRIES - VERSATILE

CAPTAIN TRACTORS PVT. LTD.

CARRARO SPA - DIVISIONE AGRITALIA

CATERPILLAR INC.

CHANGZHOU DONGFENG AGRICULTURAL MACHINERY GROUP CO., LTD.

CHINA NATIONAL MACHINERY INDUSTRY CORPORATION LTD.

CLAAS KGAA MBH

CLAAS OF AMERICA LLC

CLAAS UK LTD.

CNH INDUSTRIAL (INDIA) PVT. LTD.

CNH INDUSTRIAL NV

CNH INDUSTRIAL OSTERREICH GMBH - STEYR

CASE IH (USA)

NEW HOLLAND AGRICULTURE

NEW HOLLAND AGRICULTURE INDIA

CASE IH

CONCERN "TRACTOR PLANTS" (MACHINERY & INDUSTRIAL GROUP NV)

DAEDONG INDUSTRIAL CO., LTD.

DAEDONG-USA, INC. - KIOTI TRACTOR DIVISION

DE PIETRI SRL

DEERE & COMPANY

JOHN DEERE LIMITED

INDUSTRIAS JOHN DEERE MEXICO SA DE CV

ESCORTS LIMITED

EXEL INDUSTRIES

FIRST TRACTOR CO., LTD.

FORCE MOTORS LTD.

GROMAX AGRI EQUIPMENT LTD.

HMT LTD. (INDIA)

IHI SHIBAURA MACHINERY CORPORATION

INDO FARM EQUIPMENT LTD.

INTERNATIONAL TRACTORS LIMITED (SONALIKA)

ISEKI & CO., LTD.

J C BAMFORD EXCAVATORS LTD. (JCB)

JIANGSU YUEDA INTELLIGENT AGRICULTURAL EQUIPMENT CO., LTD.

KUBOTA CORPORATION

KUBOTA TRACTOR CORPORATION

KUBOTA (UK) LTD.

KUBOTA EUROPE SAS

SIAM KUBOTA CORPORATION CO., LTD.

LOVOL HEAVY INDUSTRY CO., LTD.

MAHINDRA & MAHINDRA LTD.

MAHINDRA & MAHINDRA LTD. - SWARAJ DIVISION

MAHINDRA & MAHINDRA - FARM EQUIPMENT SECTOR

MAHINDRA USA, INC.

MITSUBISHI MAHINDRA AGRICULTURAL MACHINERY CO., LTD.

PAUNY SA

PELLENEC SA

PREET GROUP

PREET AGRO INDUSTRIES PVT. LTD.

PRONAR SP. Z O.O.

SDF SPA

SAME DEUTZ FAHR GROUP SPA

SHANDONG SHIFENG GROUP CO., LTD.

SOUTHWICK TRACTOR CO., LTD.

TONG YANG MOOLSAN CO., LTD.

TYM TRACTORS

TRACTORS AND FARM EQUIPMENT LTD. (TAFE)

TRAKTORENWERK LINDNER GMBH

URSUS SA

V.S.T TILLERS TRACTORS LTD.

WEIFNAG LUZHONG TRACTOR CO., LTD.

YANMAR CO., LTD.

YANMAR AGRICULTURAL MACHINERY MANUFACTURING CO., LTD.

ZOOMLION HEAVY INDUSTRY SCIENCE & TECHNOLOGY CO., LTD.

ZETOR TRACTORS A.S.

YTO GROUP CORPORATION

Note: Product cover images may vary from those shown
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