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.Global Agriculture Tractors Market: Projected to Reach US$ 98.79 Bn by 2030 with a CAGR of 6%"
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
Chapter 2. Research Methodology
Chapter 4. Global Agricultural Tractors Market Overview
Chapter 5. Global Agricultural Tractors Market Analysis, By Tractor Type
Chapter 6. Global Agricultural Tractors Market Analysis, By Product (Fuel)
Chapter 7. Global Agricultural Tractors Market Analysis, By Wheel Type
Chapter 8. Global Agricultural Tractors Market Analysis, By Engine Power
Chapter 9. Global Agricultural Tractors Market Analysis, By Region
Chapter 10. North America Agricultural Tractors Market Analysis
Chapter 11. South America Agricultural Tractors Market Analysis
Chapter 12. Europe Agricultural Tractors Market Analysis
Chapter 13. Asia Pacific Agricultural Tractors Market Analysis
Chapter 14. Middle East Agricultural Tractors Market Analysis
Chapter 15. China Agricultural Tractors Market Analysis
Chapter 16. India Agricultural Tractors Market Analysis
Chapter 17. Japan Agricultural Tractors Market Analysis
Chapter 18. ASEAN Agricultural Tractors Market Analysis
Chapter 19. South Korea Agricultural Tractors Market Analysis
Chapter 20. Australia & New Zealand Agricultural Tractors Market Analysis
Chapter 21. Myanmar Agricultural Tractors Market Analysis
Chapter 22. Rest of Asia Pacific Agricultural Tractors Market Analysis
Chapter 23. Company Profile (Company Overview, Financial Matrix, Key Product landscape, Key Personnel, Key Competitors, Contact Address, and Business Strategy Outlook)
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 Attribute | Details |
|---|---|
| No. of Pages | 404 |
| Published | February 2024 |
| Forecast Period | 2023 - 2030 |
| Estimated Market Value ( USD | $ 66.15 Billion |
| Forecasted Market Value ( USD | $ 98.79 Billion |
| Compound Annual Growth Rate | 6.0% |
| Regions Covered | Global |
