Agriculture Tractor Market
Segments - by Horse Power (Greater than 350 HP, 271 HP to 350 HP, 201 HP to 270 HP, 151 HP to 200 HP, 100 HP to 150 HP, 40 HP to 99 HP, Less than 40 HP), Types (Row Crop Tractors, Orchard Tractors, and Others), and Regions (Asia Pacific, North America, Latin America, Europe, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2021 – 2028
The global agriculture tractor market size is expected to expand at a considerable CAGR during the forecast period, 2021–2028. The growth of the market is attributed to the increasing demand for food products, rising mechanization in the agriculture sector, and rapid urbanization.
An agriculture tractor is an engineering vehicle that is design to deliver a large tractive effort at lesser speeds, for purpose of dragging machinery in agriculture. It is produced for several agricultural tasks such as pushing or pulling agricultural machinery or trailers for tilling, harrowing, spraying pesticide, plowing, disking, and planting. Tractors are known as farm vehicles, as it provide traction and power to mechanize agricultural tasks.
Covid-19 has affected the local and global market such as manufacturing, supply chains, and operations of the automotive sector. The ease of restrictions and lockdown has raised the demand of automotive sector and also increased the sales of tractors. Natural calamities including flood and drought affect the harvest of crops and lower purchasing power of farmers.
Market Trends, Drivers, Restraints, and Opportunities
- Increasing adoption of smart farming is projected to boost the market growth during the forecast period.
- Rising need for productivity is major factor driving the market expansion.
- High cost of the agricultural tractor is anticipated to hamper the market growth in the coming.
- Lack of skilled labors acts as main challenge that can impede the market expansion during the forecast period.
- R&D investment and technological advancement in tractors is estimated to create immense opportunities for the market players.
Scope of the Report
The report on the global agriculture tractor market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
|
Attributes |
Details |
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Report Title |
Agriculture Tractor Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast |
|
Base Year |
2020 |
|
Historic Data |
2018–2019 |
|
Forecast Period |
2021–2028 |
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Segmentation |
Horse Power (Greater than 350 HP, 271 HP to 350 HP, 201 HP to 270 HP, 151 HP to 200 HP, 100 HP to 150 HP, 40 HP to 99 HP, Less than 40 HP), Types (Row Crop Tractors, Orchard Tractors, and Others) |
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Regional Scope |
Asia Pacific, North America, Latin America, Europe, and Middle East & Africa |
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Report Coverage |
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast |
|
Key Players Covered in the Report |
Alamo Group Inc.; CLAAS KGaA mbH; Daedong Industrial Co., Ltd.; Escorts Ltd.; Kubota Corp.; SDF Group; Yanmar Co., Ltd.; Mahindra and Mahindra India Ltd.; AGCO Corp.; Caterpillar, Inc.; Deere & Co.; and Bamford Excavators Ltd. |
Market Segment Insights:
Less than 40 HP segment is projected to account for a large market share
Based on horse power, the global agriculture tractor market is divided into greater than 350 HP, 271 HP to 350 HP, 201 HP to 270 HP, 151 HP to 200 HP, 100 HP to 150 HP, 40 HP to 99 HP, less than 40 HP. The less than 40 HP segment is expected to constitute a key share of the market during the forecast period owing to advantages associated with the agricultural tractors including lower cost, ability to perform every basic agriculture activities, and compact size. These tractors are highly used in various developing countries. However, the 40 HP to 99 HP segment is anticipated to expand at a rapid pace during the forecast period due to increasing demand from various countries and adoption of agriculture technology in different regions.
Row crop tractors segment is projected to hold a key market share
On the basis of types, the market is segmented into row crop tractors, orchard tractors, and others. The row crop tractors segment is expected to represent a key share of the market in the coming years due to its capability of both cultivation of a crop and primary tillage. It performs every farming task efficiently and also can use water pumps and thrashers. On the other hand, the orchard tractors segment is anticipated to expand at a rapid pace during the forecast period owing to it improves productivity, affordability, durability, easy to handle, and effective mileage.
Asia Pacific is expected to dominate the market
On the basis of regions, the global agriculture tractor market is categorized as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. The market of Asia Pacific is anticipated to expand at an impressive CAGR during the forecast period. The regional market growth can be attributed to rising demand for tractors in the countries including India and China. In India tractors plays a vital role in raising the country’s agricultural output. On the other hand, the market of Europe is expected to exhibit a rapid growth rate in the coming years due to large farm sizes of the European countries including Hungary, Spain, Denmark, Netherlands, and U.K.
Segments
Segments Covered in the ReportThe global agriculture tractor market has been segmented on the basis of
Horse Power
- Greater than 350 HP
- 271 HP to 350 HP
- 201 HP to 270 HP
- 151 HP to 200 HP
- 100 HP to 150 HP
- 40 HP to 99 HP
- Less than 40 HP
- Row Crop Tractors
- Orchard Tractors
- Others
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
- Alamo Group Inc.
- CLAAS KGaA mbH
- Daedong Industrial Co., Ltd.
- Escorts Ltd.
- Kubota Corp.
- SDF Group
- Yanmar Co., Ltd.
- Mahindra and Mahindra India Ltd.
- AGCO Corp.
- Caterpillar, Inc.
- Deere & Co.
- Bamford Excavators Ltd.
Competitive Landscape
Key players competing in the global agriculture tractor market include Alamo Group Inc.; CLAAS KGaA mbH; Daedong Industrial Co., Ltd.; Escorts Ltd.; Kubota Corp.; SDF Group; Yanmar Co., Ltd.; Mahindra and Mahindra India Ltd.; AGCO Corp.; Caterpillar, Inc.; Deere & Co.; and Bamford Excavators Ltd. Some of these players are engaged in several market strategies such as mergers, acquisitions, partnerships, collaborations, capacity expansion, and product launches to enhance their market shares.
1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Agriculture Tractor Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Agriculture Tractor Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Agriculture Tractor Market - Supply Chain
4.5. Global Agriculture Tractor Market Forecast
4.5.1. Agriculture Tractor Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Agriculture Tractor Market Size (000’ Units) and Y-o-Y Growth
4.5.3. Agriculture Tractor Market Absolute $ Opportunity
5. Global Agriculture Tractor Market Analysis and Forecast by Types
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Types
5.2.2. Y-o-Y Growth Projections by Types
5.3. Agriculture Tractor Market Size and Volume Forecast by Types
5.3.1. Row Crop Tractors Orchard Tractors Others
5.4. Absolute $ Opportunity Assessment by Types
5.5. Market Attractiveness/Growth Potential Analysis by Types
6. Global Agriculture Tractor Market Analysis and Forecast by Region
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by Region
6.2.2. Y-o-Y Growth Projections by Region
6.3. Agriculture Tractor Market Size and Volume Forecast by Region
6.3.1. North America
6.3.2. Latin America
6.3.3. Europe
6.3.4. Asia Pacific
6.3.5. Middle East and Africa (MEA)
6.4. Absolute $ Opportunity Assessment by Region
6.5. Market Attractiveness/Growth Potential Analysis by Region
6.6. Global Agriculture Tractor Demand Share Forecast, 2019-2026
7. North America Agriculture Tractor Market Analysis and Forecast
7.1. Introduction
7.1.1. Basis Point Share (BPS) Analysis by Country
7.1.2. Y-o-Y Growth Projections by Country
7.2. North America Agriculture Tractor Market Size and Volume Forecast by Country
7.2.1. U.S.
7.2.2. Canada
7.3. Absolute $ Opportunity Assessment by Country
7.4. North America Agriculture Tractor Market Size and Volume Forecast by Types
7.4.1. Row Crop Tractors Orchard Tractors Others
7.5. Basis Point Share (BPS) Analysis by Types
7.6. Y-o-Y Growth Projections by Types
7.7. Market Attractiveness/Growth Potential Analysis
7.7.1. By Country
7.7.2. By Product Type
7.7.3. By Application
7.8. North America Agriculture Tractor Demand Share Forecast, 2019-2026
8. Latin America Agriculture Tractor Market Analysis and Forecast
8.1. Introduction
8.1.1. Basis Point Share (BPS) Analysis by Country
8.1.2. Y-o-Y Growth Projections by Country
8.1.3. Latin America Average Pricing Analysis
8.2. Latin America Agriculture Tractor Market Size and Volume Forecast by Country
8.2.1. Brazil
8.2.2. Mexico
8.2.3. Rest of Latin America
8.3. Absolute $ Opportunity Assessment by Country
8.4. Latin America Agriculture Tractor Market Size and Volume Forecast by Types
8.4.1. Row Crop Tractors Orchard Tractors Others
8.5. Basis Point Share (BPS) Analysis by Types
8.6. Y-o-Y Growth Projections by Types
8.7. Market Attractiveness/Growth Potential Analysis
8.7.1. By Country
8.7.2. By Product Type
8.7.3. By Application
8.8. Latin America Agriculture Tractor Demand Share Forecast, 2019-2026
9. Europe Agriculture Tractor Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.1.3. Europe Average Pricing Analysis
9.2. Europe Agriculture Tractor Market Size and Volume Forecast by Country
9.2.1. Germany
9.2.2. France
9.2.3. Italy
9.2.4. U.K.
9.2.5. Spain
9.2.6. Russia
9.2.7. Rest of Europe
9.3. Absolute $ Opportunity Assessment by Country
9.4. Europe Agriculture Tractor Market Size and Volume Forecast by Types
9.4.1. Row Crop Tractors Orchard Tractors Others
9.5. Basis Point Share (BPS) Analysis by Types
9.6. Y-o-Y Growth Projections by Types
9.7. Market Attractiveness/Growth Potential Analysis
9.7.1. By Country
9.7.2. By Product Type
9.7.3. By Application
9.8. Europe Agriculture Tractor Demand Share Forecast, 2019-2026
10. Asia Pacific Agriculture Tractor Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Asia Pacific Average Pricing Analysis
10.2. Asia Pacific Agriculture Tractor Market Size and Volume Forecast by Country
10.2.1. China
10.2.2. Japan
10.2.3. South Korea
10.2.4. India
10.2.5. Australia
10.2.6. Rest of Asia Pacific (APAC)
10.3. Absolute $ Opportunity Assessment by Country
10.4. Asia Pacific Agriculture Tractor Market Size and Volume Forecast by Types
10.4.1. Row Crop Tractors Orchard Tractors Others
10.5. Basis Point Share (BPS) Analysis by Types
10.6. Y-o-Y Growth Projections by Types
10.7. Market Attractiveness/Growth Potential Analysis
10.7.1. By Country
10.7.2. By Product Type
10.7.3. By Application
10.8. Asia Pacific Agriculture Tractor Demand Share Forecast, 2019-2026
11. Middle East & Africa Agriculture Tractor Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Middle East & Africa Average Pricing Analysis
11.2. Middle East & Africa Agriculture Tractor Market Size and Volume Forecast by Country
11.2.1. Saudi Arabia
11.2.2. South Africa
11.2.3. UAE
11.2.4. Rest of Middle East & Africa (MEA)
11.3. Absolute $ Opportunity Assessment by Country
11.4. Middle East & Africa Agriculture Tractor Market Size and Volume Forecast by Types
11.4.1. Row Crop Tractors Orchard Tractors Others
11.5. Basis Point Share (BPS) Analysis by Types
11.6. Y-o-Y Growth Projections by Types
11.7. Market Attractiveness/Growth Potential Analysis
11.7.1. By Country
11.7.2. By Product Type
11.7.3. By Application
11.8. Middle East & Africa Agriculture Tractor Demand Share Forecast, 2019-2026
12. Competition Landscape
12.1. Global Agriculture Tractor Market: Market Share Analysis
12.2. Agriculture Tractor Distributors and Customers
12.3. Agriculture Tractor Market: Competitive Dashboard
12.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
12.4.1. Alamo Group Inc. CLAAS KGaA mbH Daedong Industrial Co., Ltd. Escorts Ltd. Kubota Corp. SDF Group
2. Assumptions and Acronyms Used
3. Research Methodology
4. Agriculture Tractor Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Agriculture Tractor Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Agriculture Tractor Market - Supply Chain
4.5. Global Agriculture Tractor Market Forecast
4.5.1. Agriculture Tractor Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Agriculture Tractor Market Size (000’ Units) and Y-o-Y Growth
4.5.3. Agriculture Tractor Market Absolute $ Opportunity
5. Global Agriculture Tractor Market Analysis and Forecast by Types
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Types
5.2.2. Y-o-Y Growth Projections by Types
5.3. Agriculture Tractor Market Size and Volume Forecast by Types
5.3.1. Row Crop Tractors Orchard Tractors Others
5.4. Absolute $ Opportunity Assessment by Types
5.5. Market Attractiveness/Growth Potential Analysis by Types
6. Global Agriculture Tractor Market Analysis and Forecast by Region
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by Region
6.2.2. Y-o-Y Growth Projections by Region
6.3. Agriculture Tractor Market Size and Volume Forecast by Region
6.3.1. North America
6.3.2. Latin America
6.3.3. Europe
6.3.4. Asia Pacific
6.3.5. Middle East and Africa (MEA)
6.4. Absolute $ Opportunity Assessment by Region
6.5. Market Attractiveness/Growth Potential Analysis by Region
6.6. Global Agriculture Tractor Demand Share Forecast, 2019-2026
7. North America Agriculture Tractor Market Analysis and Forecast
7.1. Introduction
7.1.1. Basis Point Share (BPS) Analysis by Country
7.1.2. Y-o-Y Growth Projections by Country
7.2. North America Agriculture Tractor Market Size and Volume Forecast by Country
7.2.1. U.S.
7.2.2. Canada
7.3. Absolute $ Opportunity Assessment by Country
7.4. North America Agriculture Tractor Market Size and Volume Forecast by Types
7.4.1. Row Crop Tractors Orchard Tractors Others
7.5. Basis Point Share (BPS) Analysis by Types
7.6. Y-o-Y Growth Projections by Types
7.7. Market Attractiveness/Growth Potential Analysis
7.7.1. By Country
7.7.2. By Product Type
7.7.3. By Application
7.8. North America Agriculture Tractor Demand Share Forecast, 2019-2026
8. Latin America Agriculture Tractor Market Analysis and Forecast
8.1. Introduction
8.1.1. Basis Point Share (BPS) Analysis by Country
8.1.2. Y-o-Y Growth Projections by Country
8.1.3. Latin America Average Pricing Analysis
8.2. Latin America Agriculture Tractor Market Size and Volume Forecast by Country
8.2.1. Brazil
8.2.2. Mexico
8.2.3. Rest of Latin America
8.3. Absolute $ Opportunity Assessment by Country
8.4. Latin America Agriculture Tractor Market Size and Volume Forecast by Types
8.4.1. Row Crop Tractors Orchard Tractors Others
8.5. Basis Point Share (BPS) Analysis by Types
8.6. Y-o-Y Growth Projections by Types
8.7. Market Attractiveness/Growth Potential Analysis
8.7.1. By Country
8.7.2. By Product Type
8.7.3. By Application
8.8. Latin America Agriculture Tractor Demand Share Forecast, 2019-2026
9. Europe Agriculture Tractor Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.1.3. Europe Average Pricing Analysis
9.2. Europe Agriculture Tractor Market Size and Volume Forecast by Country
9.2.1. Germany
9.2.2. France
9.2.3. Italy
9.2.4. U.K.
9.2.5. Spain
9.2.6. Russia
9.2.7. Rest of Europe
9.3. Absolute $ Opportunity Assessment by Country
9.4. Europe Agriculture Tractor Market Size and Volume Forecast by Types
9.4.1. Row Crop Tractors Orchard Tractors Others
9.5. Basis Point Share (BPS) Analysis by Types
9.6. Y-o-Y Growth Projections by Types
9.7. Market Attractiveness/Growth Potential Analysis
9.7.1. By Country
9.7.2. By Product Type
9.7.3. By Application
9.8. Europe Agriculture Tractor Demand Share Forecast, 2019-2026
10. Asia Pacific Agriculture Tractor Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Asia Pacific Average Pricing Analysis
10.2. Asia Pacific Agriculture Tractor Market Size and Volume Forecast by Country
10.2.1. China
10.2.2. Japan
10.2.3. South Korea
10.2.4. India
10.2.5. Australia
10.2.6. Rest of Asia Pacific (APAC)
10.3. Absolute $ Opportunity Assessment by Country
10.4. Asia Pacific Agriculture Tractor Market Size and Volume Forecast by Types
10.4.1. Row Crop Tractors Orchard Tractors Others
10.5. Basis Point Share (BPS) Analysis by Types
10.6. Y-o-Y Growth Projections by Types
10.7. Market Attractiveness/Growth Potential Analysis
10.7.1. By Country
10.7.2. By Product Type
10.7.3. By Application
10.8. Asia Pacific Agriculture Tractor Demand Share Forecast, 2019-2026
11. Middle East & Africa Agriculture Tractor Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Middle East & Africa Average Pricing Analysis
11.2. Middle East & Africa Agriculture Tractor Market Size and Volume Forecast by Country
11.2.1. Saudi Arabia
11.2.2. South Africa
11.2.3. UAE
11.2.4. Rest of Middle East & Africa (MEA)
11.3. Absolute $ Opportunity Assessment by Country
11.4. Middle East & Africa Agriculture Tractor Market Size and Volume Forecast by Types
11.4.1. Row Crop Tractors Orchard Tractors Others
11.5. Basis Point Share (BPS) Analysis by Types
11.6. Y-o-Y Growth Projections by Types
11.7. Market Attractiveness/Growth Potential Analysis
11.7.1. By Country
11.7.2. By Product Type
11.7.3. By Application
11.8. Middle East & Africa Agriculture Tractor Demand Share Forecast, 2019-2026
12. Competition Landscape
12.1. Global Agriculture Tractor Market: Market Share Analysis
12.2. Agriculture Tractor Distributors and Customers
12.3. Agriculture Tractor Market: Competitive Dashboard
12.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
12.4.1. Alamo Group Inc. CLAAS KGaA mbH Daedong Industrial Co., Ltd. Escorts Ltd. Kubota Corp. SDF Group
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