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Global Tractor Implements Market Size, Share & Industry Trends Analysis Report By Product (Cultivator & Tiller, Harrows, Plough, Planters, Spreaders & Baler, and Others), By Regional Outlook and Forecast, 2022 - 2028

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    Report

  • 322 Pages
  • December 2022
  • Region: Global
  • Marqual IT Solutions Pvt. Ltd (KBV Research)
  • ID: 5723772
The Global Tractor Implements Market size is expected to reach $39.1 billion by 2028, rising at a market growth of 5.3% CAGR during the forecast period.

The agricultural equipment mounted to a tractor is referred to as a tractor implement. The usage of tractor tools in agriculture spans a wide range of tasks, including clearing ground for planting, harvesting, sowing, seeding, baling, irrigation, and more. The three mounting positions for tractor implements are front, middle, and rear. The tractor loader is the tool that is most often front-mounted.



The mower deck is a typical tractor implement for the middle position, while the rear blade of the tractor is a typical rear-mounted implement. Tractor blades, spreaders, landscape rakes, sprayers, tillovators, quick hitchers, rotary tedders, disc mowers, and other similar tractor implements are among the various tractor equipment. Tractor implements may be divided into powered and unpowered.

While unpowered tractor implements are used regularly, powered tractor implements need mechanical and electrical power to move. Increased spending on labor-intensive equipment like cultivators, harrows, and tillers as a consequence of the agricultural sector's rapid modernization has boosted industry growth. Additionally, the lack of competent personnel results in the adoption of new machinery and tools, which promotes industrial expansion.

COVID-19 Impact Analysis

The demand for machinery and equipment has already been affected by COVID-19 in the first quarter of 2020. Several tractors implement manufacturers struggled to stay in business during the COVID-19 lockdowns, which had a significant negative impact on business. The first half of 2020 had a negative influence on the sector. However, it recovered and saw growth as a result of several important global economies opening. Additionally, businesses began using creative solutions to combat the pandemic.

Market Growth Factors

Global population increase at an exponential rate, and political policies that are supportive

The need for tractors is rising as the world's population rises. Rapid urbanization, restricted availability of labor, increased food consumption, and technological innovation is some of the market's major themes. When basic demand-supply economics and the movement of labor from urban to rural regions are taken into consideration, there is a clear correlation between the price of agricultural labor and the proportion of a nation's total population working in agriculture. Additionally, as the population and food demand rise, farmers need to increase their yields.

Rising IoT Application Adoption in Agriculture

The growing use of Internet of Things (IoT) technology in the agricultural sector enables farmers to track the progress of their products by offering real-time support via IoT apps. Utilizing IoT applications with conventional farming techniques helps to cut down on the time and expense associated with managing different agricultural resources, such as water, electricity, and land, and focuses instead on providing consumers with high-quality food. Utilizing precision farming methods, the use of IoT-based devices in the agriculture industry also minimizes the usage of pesticides and fertilizers, further enhancing the health of crops or soil to provide organic food to diverse end users.

Market Restraining Factors

Farmers' lack of awareness

Farmers' physical and financial safety might be seriously threatened by inexperienced agricultural equipment operating. Lack of information about this equipment may restrict farm size and production, hence reducing the farm's capacity to sustainably support a family. On the other hand, a rising number of new farmers (such as apprentices, interns, and workers) have little to no experience using equipment and come from non-farming backgrounds.

Product Outlook

Based on product, the tractor implements market is classified into the Cultivator & Tiller, Plough, Planters, Harrows, Spreaders, Baler, and Others. In 2021, the cultivator and tiller equipment segment dominated the market. Utilizing cultivators and tillers, farming operations are mechanized and automated. It contributes to efficient utility use in addition to raising agricultural productivity. The need for cultivators and tillers has risen as a result of technical development, the modernization of agriculture, and the development of high-performance cultivators and tillers.



Regional Outlook

Based on geography, the tractor implements market is categorized into North America, Europe, Asia Pacific, and LAMEA. In 2021, the Asia Pacific region led the market globally and had the largest share. The area is anticipated to continue to develop at the quickest pace, maintaining its leadership throughout the projection period. The need to enhance yields as a consequence of an increasing population is one of the main factors in this area. Automation and precision agricultural procedures are being adopted by an increasing number of farmers in emerging nations, which is encouraging for cultivating and tilling equipment.

The Cardinal Matrix - STractor Implements Market Competition Analysis



The major strategies followed by the market participants are Acquisitions. Based on the Analysis presented in the Cardinal matrix; Deere & Company are the forerunners in the Tractor Implements Market. Companies such as CNH Industrial N.V., AGCO Corporation and KUBOTA Corporation are some of the key innovators in Tractor Implements Market.

The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include CNH Industrial N.V., Deere & Company, KUBOTA Corporation, Mahindra & Mahindra Limited (Mahindra Group), J C Bamford Excavators Ltd., AGCO Corporation, Claas KGaA mbH, SDF S.p.A., KUHN SAS (Bucher Industries AG) and Tractors and Farm Equipment Limited

Strategies Deployed in Tractor Implements Market

  • May-2022: AGCO took over JCA Industries, Inc. a developer of autonomous software for agricultural machines. The acquisition advanced the former company's delivery of autonomous systems and machine automation that improve farmer productivity.
  • May-2022: John Deere acquired a state-of-the-art algorithm package from Light, an AI startup. Through this acquisition, the company would be able to create and implement AI tech. Moreover, this step would enable the machine to move safely, at a faster rate, and without any human involvement.
  • Jan-2022: John Deere unveiled a fully autonomous tractor for large-scale production. The machine is equipped with an 8R tractor, GPS, and TruSet-enabled chisel plow. The tractor is embedded with six pairs of stereo cameras, allowing calculation of distance and 360-degree obstruction detection helping it to stop in case an obstacle is detected.
  • Nov-2021: CNH Industrial N.V. acquired Raven Industries, Inc., a precision agriculture technology company. This acquisition strengthened innovation capabilities for advancing the digital and precision strategy of the company.
  • Oct-2021: Kubota completed the acquisition of Pulverizadores Fede, a Spanish manufacturer of sprayers and smart spraying technology. Through this acquisition, the company would strengthen its compatibility among tractors and machinery. Additionally, this would reduce the effect of fruit production on the environment through proper spraying.
  • Aug-2021: John Deere took over Bear Flag Robotics, a company developing autonomous farming technology. This acquisition aims to accelerate autonomous technology in the fields. Additionally, the farmers would be able to generate more profitability and sustainability in operations by using their resources more strategically.
  • May-2021: CLAAS established the Future Factory, the CLAAS tractor factory in Le Mans, France. The company would uplift the status of the production of integrated and premium farm tractors.
  • Sep-2020: Deere & Company acquired Unimil, a Brazilian company providing service parts for sugarcane harvesters. This acquisition would enable John Deere to offer an evolution in the business, innovating the production system and operating model in the field of Agriculture.
  • Dec-2019: CNH Industrial NV announced the acquisition of K-Line AG, an agricultural implement manufacturer. Through this acquisition, the company would add residue management and tillage equipment. Thereby, improving the suite of CNH Industrial NV in crop production.
  • Nov-2019: CNH Industrial N.V. took over ATI Inc., a manufacturer of rubber track systems for high horsepower tractors and combine harvesters. The acquisition delivers access to factory-fit industry-leading track technology to customers of CNH's agricultural brands, New Holland Agriculture and Case IH. This would expand the available range and allow them to customize their choice based on their specific suspension, floatation, and traction requirements.

Scope of the Study

By Product

  • Cultivator & Tiller
  • Harrows
  • Plough
  • Planters
  • Spreaders & Baler
  • Others

By Geography

  • North America
  • US
  • Canada
  • Mexico
  • Rest of North America
  • Europe
  • Germany
  • UK
  • France
  • Russia
  • Spain
  • Italy
  • Rest of Europe
  • Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Malaysia
  • Rest of Asia Pacific
  • LAMEA
  • Brazil
  • Argentina
  • UAE
  • Saudi Arabia
  • South Africa
  • Nigeria
  • Rest of LAMEA

Key Market Players

List of Companies Profiled in the Report:

  • CNH Industrial N.V.
  • Deere & Company
  • KUBOTA Corporation
  • Mahindra & Mahindra Limited (Mahindra Group)
  • J C Bamford Excavators Ltd.
  • AGCO Corporation
  • Claas KGaA mbH
  • SDF S.p.A.
  • KUHN SAS (Bucher Industries AG)
  • Tractors and Farm Equipment Limited

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  • The highest number of Market tables and figures
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Table of Contents

Chapter 1. Market Scope & Methodology
1.1 Market Definition
1.2 Objectives
1.3 Market Scope
1.4 Segmentation
1.4.1 Global Tractor Implements Market, by Product
1.4.2 Global Tractor Implements Market, by Geography
1.5 Methodology for the research
Chapter 2. Market Overview
2.1 Introduction
2.1.1 Overview
2.1.1.1 Market Composition and Scenario
2.2 Key Factors Impacting the Market
2.2.1 Market Drivers
2.2.2 Market Restraints
Chapter 3. Competition Analysis - Global
3.1 Cardinal Matrix
3.2 Recent Industry Wide Strategic Developments
3.2.1 Geographical Expansions
3.2.2 Product Launches and Product Expansions
3.2.3 Acquisition and Mergers
3.3 Top Winning Strategies
3.3.1 Key Leading Strategies: Percentage Distribution (2018-2022)
Chapter 4. Global Tractor Implements Market by Product
4.1 Global Cultivator & Tiller Market by Region
4.2 Global Harrows Market by Region
4.3 Global Plough Market by Region
4.4 Global Planters Market by Region
4.5 Global Spreaders & Baler Market by Region
4.6 Global Others Market by Region
Chapter 5. Global Tractor Implements Market by Region
5.1 North America Tractor Implements Market
5.1.1 North America Tractor Implements Market by Product
5.1.1.1 North America Cultivator & Tiller Market by Country
5.1.1.2 North America Harrows Market by Country
5.1.1.3 North America Plough Market by Country
5.1.1.4 North America Planters Market by Country
5.1.1.5 North America Spreaders & Baler Market by Country
5.1.1.6 North America Others Market by Country
5.1.2 North America Tractor Implements Market by Country
5.1.2.1 US Tractor Implements Market
5.1.2.1.1 US Tractor Implements Market by Product
5.1.2.2 Canada Tractor Implements Market
5.1.2.2.1 Canada Tractor Implements Market by Product
5.1.2.3 Mexico Tractor Implements Market
5.1.2.3.1 Mexico Tractor Implements Market by Product
5.1.2.4 Rest of North America Tractor Implements Market
5.1.2.4.1 Rest of North America Tractor Implements Market by Product
5.2 Europe Tractor Implements Market
5.2.1 Europe Tractor Implements Market by Product
5.2.1.1 Europe Cultivator & Tiller Market by Country
5.2.1.2 Europe Harrows Market by Country
5.2.1.3 Europe Plough Market by Country
5.2.1.4 Europe Planters Market by Country
5.2.1.5 Europe Spreaders & Baler Market by Country
5.2.1.6 Europe Others Market by Country
5.2.2 Europe Tractor Implements Market by Country
5.2.2.1 Germany Tractor Implements Market
5.2.2.1.1 Germany Tractor Implements Market by Product
5.2.2.2 UK Tractor Implements Market
5.2.2.2.1 UK Tractor Implements Market by Product
5.2.2.3 France Tractor Implements Market
5.2.2.3.1 France Tractor Implements Market by Product
5.2.2.4 Russia Tractor Implements Market
5.2.2.4.1 Russia Tractor Implements Market by Product
5.2.2.5 Spain Tractor Implements Market
5.2.2.5.1 Spain Tractor Implements Market by Product
5.2.2.6 Italy Tractor Implements Market
5.2.2.6.1 Italy Tractor Implements Market by Product
5.2.2.7 Rest of Europe Tractor Implements Market
5.2.2.7.1 Rest of Europe Tractor Implements Market by Product
5.3 Asia Pacific Tractor Implements Market
5.3.1 Asia Pacific Tractor Implements Market by Product
5.3.1.1 Asia Pacific Cultivator & Tiller Market by Country
5.3.1.2 Asia Pacific Harrows Market by Country
5.3.1.3 Asia Pacific Plough Market by Country
5.3.1.4 Asia Pacific Planters Market by Country
5.3.1.5 Asia Pacific Spreaders & Baler Market by Country
5.3.1.6 Asia Pacific Others Market by Country
5.3.2 Asia Pacific Tractor Implements Market by Country
5.3.2.1 China Tractor Implements Market
5.3.2.1.1 China Tractor Implements Market by Product
5.3.2.2 Japan Tractor Implements Market
5.3.2.2.1 Japan Tractor Implements Market by Product
5.3.2.3 India Tractor Implements Market
5.3.2.3.1 India Tractor Implements Market by Product
5.3.2.4 Australia Tractor Implements Market
5.3.2.4.1 Australia Tractor Implements Market by Product
5.3.2.5 South Korea Tractor Implements Market
5.3.2.5.1 South Korea Tractor Implements Market by Product
5.3.2.6 Malaysia Tractor Implements Market
5.3.2.6.1 Malaysia Tractor Implements Market by Product
5.3.2.7 Rest of Asia Pacific Tractor Implements Market
5.3.2.7.1 Rest of Asia Pacific Tractor Implements Market by Product
5.4 LAMEA Tractor Implements Market
5.4.1 LAMEA Tractor Implements Market by Product
5.4.1.1 LAMEA Cultivator & Tiller Market by Country
5.4.1.2 LAMEA Harrows Market by Country
5.4.1.3 LAMEA Plough Market by Country
5.4.1.4 LAMEA Planters Market by Country
5.4.1.5 LAMEA Spreaders & Baler Market by Country
5.4.1.6 LAMEA Others Market by Country
5.4.2 LAMEA Tractor Implements Market by Country
5.4.2.1 Brazil Tractor Implements Market
5.4.2.1.1 Brazil Tractor Implements Market by Product
5.4.2.2 Argentina Tractor Implements Market
5.4.2.2.1 Argentina Tractor Implements Market by Product
5.4.2.3 UAE Tractor Implements Market
5.4.2.3.1 UAE Tractor Implements Market by Product
5.4.2.4 Saudi Arabia Tractor Implements Market
5.4.2.3.3 Saudi Arabia Tractor Implements Market by Product
5.4.2.4 South Africa Tractor Implements Market
5.4.2.4.1 South Africa Tractor Implements Market by Product
5.4.2.5 Nigeria Tractor Implements Market
5.4.2.5.1 Nigeria Tractor Implements Market by Product
5.4.2.6 Rest of LAMEA Tractor Implements Market
5.4.2.6.1 Rest of LAMEA Tractor Implements Market by Product
Chapter 6. Company Profiles
6.1 CNH Industrial N.V.
6.1.1 Company Overview
6.1.2 Financial Analysis
6.1.3 Regional & Segmental Analysis
6.1.4 Research & Development Expenses
6.1.5 Recent strategies and developments:
6.1.5.1 Acquisitions and Mergers:
6.2 Deere & Company
6.2.1 Company Overview
6.2.2 Financial Analysis
6.2.3 Segmental and Regional Analysis
6.2.4 Research & Development Expenses
6.2.5 Recent strategies and developments:
6.2.5.1 Product Launches and Product Expansions:
6.2.5.2 Acquisition and Mergers:
6.3 KUBOTA Corporation
6.3.1 Company Overview
6.3.2 Financial Analysis
6.3.3 Segmental and Regional Analysis
6.3.4 Research & Development Expenses
6.3.5 Recent strategies and developments:
6.3.5.1 Acquisition and Mergers:
6.4 Mahindra & Mahindra Limited (Mahindra Group)
6.4.1 Company Overview
6.4.2 Financial Analysis
6.4.3 Segmental and Regional Analysis
6.4.4 Research & Development Expense
6.5 AGCO Corporation
6.5.1 Company Overview
6.5.2 Financial Analysis
6.5.3 Regional Analysis
6.5.4 Recent Strategies and Development:
6.5.4.1 Acquisitions and Mergers:
6.6 Claas KGaA mbH
6.6.1 Company Overview
6.6.2 Financial Analysis
6.6.3 Regional Analysis
6.6.4 Research & Development Expenses
6.6.5 Recent strategies and developments:
6.6.5.1 Geographical Expansions:
6.7 SDF S.p.A.
6.7.1 Company Overview
6.7.2 Financial Analysis
6.7.3 Product Category and Regional Analysis
6.7.4 Research & Development Expenses
6.8 KUHN SAS (Bucher Industries AG)
6.8.1 Company Overview
6.8.2 Financial Analysis
6.8.3 Segmental and Regional Analysis
6.8.4 Research & Development Expenses
6.9 J C Bamford Excavators Ltd.
6.9.1 Company Overview
6.10. Tractors and Farm Equipment Limited
6.10.1 Company Overview

Companies Mentioned

  • CNH Industrial N.V.
  • Deere & Company
  • KUBOTA Corporation
  • Mahindra & Mahindra Limited (Mahindra Group)
  • J C Bamford Excavators Ltd.
  • AGCO Corporation
  • Claas KGaA mbH
  • SDF S.p.A.
  • KUHN SAS (Bucher Industries AG)
  • Tractors and Farm Equipment Limited

Methodology

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