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Global Agriculture Tractors Market

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    Report

  • 404 Pages
  • February 2024
  • Region: Global
  • Astute Analytica
  • ID: 5969510
Description Jump to:

Global Agriculture Tractors Market: Projected to Reach US$ 98.79 Bn by 2030 with a CAGR of 6%"

The Global Agriculture Tractors Market is set for significant growth, with its value projected to expand from US$ 66.15 Bn in 2023 to US$ 98.79 Bn by 2030, at a CAGR of 6%. In terms of volume, the market size is expected to be 1,235.7 thousand units in 2023.

Segment Overview:

Tractor Type: The Utility Tractors segment leads the market, holding more than 20% of the share in 2023. Other types include Row Crop Tractors, Garden Tractors, Orchard Type Tractors, Rotary Tillers, and Implement Carrier Tractors.

Product (Fuel): The Internal Combustion Engine (ICE) segment is anticipated to surpass US$ 60 Bn by 2026. Electric Motor tractors also form a significant part of the market.

Wheel Type: The 2-wheeler tractor segment presents an opportunity of nearly US$ 30 Bn for 2022-2030.

Engine Power: The 36-50 Horsepower segment is expected to exhibit the fastest CAGR of over 7%.

By Tractor Type

  • Utility Tractors
  • Row Crop Tractors
  • Garden Tractors
  • Orchard Type Tractors
  • Rotary Tillers
  • Implement Carrier Tractors

By Product (Fuel)

  • Internal Combustion Engine (ICE)
  • Electric Motor

By Wheel Type

  • 2-wheeler
  • 3-wheeler
  • 4-wheeler

By Engine Power

  • < 20 Horsepower
  • 21-35 Horsepower
  • 36-50 Horsepower
  • 51-90 Horsepower
  • 91-120 Horsepower
  • 121-150 Horsepower
  • 151-180 Horsepower
  • 181 HP-250 Horsepower
  • >250 Horsepower

Regional Overview:

Asia Pacific: This region dominates the market with a share of over 58% in 2023, amounting to a revenue of US$ 38.64 Bn. Other significant regions include North America, Europe, the Middle East & Africa, and South America. Below are the coverage:

North America

  • United States
  • Canada
  • Mexico

Europe

  • Germany
  • France
  • UK
  • Spain
  • Italy
  • Poland
  • Russia
  • Rest of Europe

Asia Pacific

  • China
  • Japan
  • India
  • Australia & New Zealand
  • ASEAN
  • Myanmar
  • South Korea
  • Rest of APAC
  • Middle East & Africa
  • UAE
  • Saudi Arabia
  • South Africa
  • Rest of MEA

South America

  • Argentina
  • Brazil
  • Rest of South America

Company Profile:

Major players contributing to approximately 55% of the market share include John Deere, Massey Ferguson, Case IH, Sonalika International, Escorts Group, Kubota, Fendt, Deutz Fahr, Claas, New Holland, Universal (UTB), Big Bud, Ford, Mahindra & Mahindra, and other prominent players.

Growth Influencers:

Drivers: The market is primarily driven by increasing demand for high-performance tractors and government initiatives promoting agricultural mechanization, particularly in developing markets.

Restraints: Challenges include the overall cost of manufacturing and various government regulations impacting the sector.

Value Addition:

The report provides a comprehensive forecast of tractor sales in top markets, including volume data from 2021 to 2030.

It includes insights into government agriculture schemes, with a focus on major initiatives introduced in countries like India.

Report Insights:

  • The agriculture tractors market is on a growth trajectory, expected to reach nearly US$ 100 Bn by 2030.
  • Key segments showing significant growth include Utility Tractors and the 36-50 Horsepower range.
  • Asia Pacific leads in market share, driven by robust agricultural activities and mechanization trends.
  • Major market players are contributing to technological advancements and the adaptation of modern agricultural practices.

Questions to be Answered:

  • What are the key factors driving the global agriculture tractors market?
  • How are different segments contributing to the overall market growth?
  • What role does Asia Pacific play in the global market scenario?
  • How are major companies influencing market trends and developments?

Table of Contents

Chapter 1. Research Framework
1.1 Research Objective
1.2 Product Overview
1.3 Market Segmentation
Chapter 2. Research Methodology
2.1 Qualitative Research
2.1.1 Primary & Secondary Sources
2.2 Quantitative Research
2.2.1 Primary & Secondary Sources
2.3 Breakdown of Primary Research Respondents, By Region
2.4 Assumption for the Study
2.5 Market Size Estimation
2.6. Data Triangulation
Chapter 3. Executive Summary: Global Agricultural Tractors Market
Chapter 4. Global Agricultural Tractors Market Overview
4.1. Industry Value Chain Analysis
4.1.1. Raw Material Provider
4.1.2. Manufacturing
4.1.3. Distributer
4.1.4. End User
4.2. Industry Outlook
4.2.1. Tractor Sales Forecast, Top Markets, 2021 - 2030
4.2.2. Government Agriculture Schemes
4.3. PESTLE Analysis
4.4. Porter's Five Forces Analysis
4.4.1. Bargaining Power of Suppliers
4.4.2. Bargaining Power of Buyers
4.4.3. Threat of Substitutes
4.4.4. Threat of New Entrants
4.4.5. Degree of Competition
4.5. Market Dynamics and Trends
4.5.1. Growth Drivers
4.5.2. Restraints
4.5.3. Challenges
4.5.4. Key Trends
4.6. COVID-19 Impact Assessment on Market Growth Trend
4.7. Market Growth and Outlook
4.7.1. Market Revenue Estimates and Forecast (US$ Mn), 2017 - 2030
4.7.2. Market Volume Estimates and Forecast ('000 Units), 2017 - 2030
4.7.3. Price Trend Analysis, By Type
4.8. Competition Dashboard
4.8.1. Market Concentration Rate
4.8.2. Company Market Share Analysis (Value %), 2021
4.8.3. Competitor Mapping
Chapter 5. Global Agricultural Tractors Market Analysis, By Tractor Type
5.1. Key Insights
5.2. Market Type and Forecast, 2017 - 2030 (US$ Mn & '000 Units)
5.2.1. Utility Tractors
5.2.2. Row Crop Tractors
5.2.3. Garden Tractors
5.2.4. Orchard Type Tractors
5.2.5. Rotary Tillers
5.2.6. Implement Carrier Tractors
Chapter 6. Global Agricultural Tractors Market Analysis, By Product (Fuel)
6.1. Key Insights
6.2. Market Type and Forecast, 2017 - 2030 (US$ Mn & '000 Units)
6.2.1. Internal Combustion Engine (ICE)
6.2.2. Electric Motor
Chapter 7. Global Agricultural Tractors Market Analysis, By Wheel Type
7.1. Key Insights
7.2. Market Type and Forecast, 2017 - 2030 (US$ Mn & '000 Units)
7.2.1. 2-wheeler
7.2.2. 3-wheeler
7.2.3. 4-wheeler
Chapter 8. Global Agricultural Tractors Market Analysis, By Engine Power
8.1. Key Insights
8.2. Market Type and Forecast, 2017 - 2030 (US$ Mn & '000 Units)
8.2.1. < 20 Horsepower
8.2.2. 21-35 Horsepower
8.2.3. 36-50 Horsepower
8.2.4. 51-90 Horsepower
8.2.5. 91-120 Horsepower
8.2.6. 121-150 Horsepower
8.2.7. 151-180 Horsepower
8.2.8. 181 HP-250 Horsepower
8.2.9. >250 Horsepower
Chapter 9. Global Agricultural Tractors Market Analysis, By Region
9.1. Key Insights
9.2. Market Type and Forecast, 2017 - 2030 (US$ Mn & '000 Units)
9.2.1. North America
9.2.1.1. The U.S.
9.2.1.2. Canada
9.2.1.3. Mexico
9.2.2. Europe
9.2.2.1. Western Europe
9.2.2.1.1. The UK
9.2.2.1.2. Germany
9.2.2.1.3. France
9.2.2.1.4. Italy
9.2.2.1.5. Spain
9.2.2.1.6. Rest of Western Europe
9.2.2.2 Eastern Europe
9.2.2.2.1. Poland
9.2.2.2.2. Russia
9.2.2.2.3. Rest of Eastern Europe
9.2.3. Asia Pacific
9.2.3.1. China
9.2.3.2. India
9.2.3.3. Japan
9.2.3.4. South Korea
9.2.3.5. Australia & New Zealand
9.2.3.6. ASEAN
9.2.3.7. Myanmar
9.2.3.8. Rest of Asia Pacific
9.2.4. Middle East & Africa
9.2.4.1. UAE
9.2.4.2. Saudi Arabia
9.2.4.3. South Africa
9.2.4.4. Rest of MEA
9.2.5. South America
9.2.5.1 Argentina
9.2.5.2 Brazil
9.2.5.3. Rest of South America
Chapter 10. North America Agricultural Tractors Market Analysis
10.1. Key Insights
10.2. Market Size and Forecast, 2017 - 2030 (US$ Mn and '000 Units)
10.2.1. By Tractor Type
10.2.2. By Product
10.2.3. By Wheel Type
10.2.4. By Engine Power
10.2.5. By Country
Chapter 11. South America Agricultural Tractors Market Analysis
11.1. Key Insights
11.2. Market Size and Forecast, 2017 - 2030 (US$ Mn and '000 Units) 11.2.1. By Tractor Type
11.2.2. By Product
11.2.3. By Wheel Type
11.2.4. By Engine Power
11.2.5. By Country
Chapter 12. Europe Agricultural Tractors Market Analysis
12.1 Key Insights
12.2 Market Size and Forecast, 2017 - 2030 (US$ Mn and '000 Units)
12.2.1. By Tractor Type
12.2.2. By Product
12.2.3. By Wheel Type
12.2.4. By Engine Power
12.2.5. By Country
Chapter 13. Asia Pacific Agricultural Tractors Market Analysis
13.1. Key Insights
13.2 Market Size and Forecast, 2017 - 2030 (US$ Mn and '000 Units)
13.2.1. By Tractor Type
13.2.2. By Product
13.2.3. By Wheel Type
13.2.4. By Engine Power
13.2.5. By Country
Chapter 14. Middle East Agricultural Tractors Market Analysis
14.1. Key Insights
14.2. Market Size and Forecast, 2017 - 2030 (US$ Mn and '000 Units)
14.2.1. By Tractor Type
14.2.2. By Product 14.2.3. By Wheel Type
14.2.4. By Engine Power
14.2.5. By Country
Chapter 15. China Agricultural Tractors Market Analysis
15.1 Key Insights
15.2 Market Size and Forecast, 2017 - 2030 (US$ Mn and '000 Units)
15.2.1. By Tractor Type
15.2.2. By Product
15.2.3. By Wheel Type
15.2.4. By Engine Power
Chapter 16. India Agricultural Tractors Market Analysis
16.1 Key Insights 16.2 Market Size and Forecast, 2017 - 2030 (US$ Mn and '000 Units)
16.2.1. By Tractor Type
16.2.2. By Product
16.2.3. By Wheel Type
16.2.4. By Engine Power
Chapter 17. Japan Agricultural Tractors Market Analysis
17.1 Key Insights
17.2 Market Size and Forecast, 2017 - 2030 (US$ Mn and '000 Units)
17.2.1. By Tractor Type
17.2.2. By Product
17.2.3. By Wheel Type
17.2.4. By Engine Power
Chapter 18. ASEAN Agricultural Tractors Market Analysis
18.1 Key Insights
18.2 Market Size and Forecast, 2017 - 2030 (US$ Mn and '000 Units)
18.2.1. By Tractor Type
18.2.2. By Product
18.2.3. By Wheel Type
18.2.4. By Engine Power
18.2.5. By Country
Chapter 19. South Korea Agricultural Tractors Market Analysis
19.1 Key Insights
19.2 Market Size and Forecast, 2017 - 2030 (US$ Mn and '000 Units)
19.2.1. By Tractor Type 19.2.2. By Product
19.2.3. By Wheel Type
19.2.4. By Engine Power
Chapter 20. Australia & New Zealand Agricultural Tractors Market Analysis
20.1 Key Insights
20.2 Market Size and Forecast, 2017 - 2030 (US$ Mn and '000 Units)
20.2.1. By Tractor Type
20.2.2. By Product
20.2.3. By Wheel Type
20.2.4. By Engine Power
Chapter 21. Myanmar Agricultural Tractors Market Analysis
21.1 Key Insights 21.2 Market Size and Forecast, 2017 - 2030 (US$ Mn and '000 Units)
21.2.1. By Tractor Type
21.2.2. By Product
21.2.3. By Wheel Type
21.2.4. By Engine Power
Chapter 22. Rest of Asia Pacific Agricultural Tractors Market Analysis
22.1 Key Insights
22.2 Market Size and Forecast, 2017 - 2030 (US$ Mn and '000 Units)
22.2.1. By Tractor Type
22.2.2. By Product
22.2.3. By Wheel Type
22.2.4. By Engine Power
Chapter 23. Company Profile (Company Overview, Financial Matrix, Key Product landscape, Key Personnel, Key Competitors, Contact Address, and Business Strategy Outlook)
23.1. John Deere
23.2. Massey Ferguson
23.3. Case IH
23.4. Sonalika International
23.5. Escorts Group
23.6. Kubota
23.7. Fendt
23.8. Deutz Fahr
23.9. Claas
23.10. New Holland 23.11. Universal(UTB)
23.12. Big Bud
23.13. Ford
23.14. Mahindra & Mahindra
23.15. Other Major Players

Companies Mentioned (Partial List)

A selection of companies mentioned in this report includes, but is not limited to:

  • John Deere
  • Massey Ferguson
  • Case IH
  • Sonalika International
  • Escorts Group
  • Kubota
  • Fendt
  • Deutz Fahr
  • Claas
  • New Holland
  • Universal(UTB)
  • Big Bud
  • Ford
  • Mahindra & Mahindra

Table Information

Report AttributeDetails
No. of Pages404
PublishedFebruary 2024
Forecast Period2023 - 2030
Estimated Market Value ( USD ) in 2023 $ 66.15 Billion
Forecasted Market Value ( USD ) by 2030 $ 98.79 Billion
Compound Annual Growth Rate6.0%
Regions CoveredGlobal

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