What is Agriculture Tractor Market?
The agriculture tractor is a low-speed, high-power traction vehicle designed for offroad use. Tractors are primarily used for pulling or pushing agricultural machinery or trailers for plowing, tilling, disking, harrowing, planting, and similar tasks. Most modern agriculture tractors are powered by an internal combustion engine running on diesel, gasoline, LPG, or kerosene. The top companies are developing a variety of specialty farm tractors for particular uses. There is a demand for increased agricultural yield, which is the prime factor driving the demand for agricultural tractors. The factors such as Shortage of Skilled Labors and Increasing Labor Wages, Demand for Increased Agricultural Yield, and Government Initiatives on Funding and Assisting Farmers are the key drivers for the global Agriculture Tractor market. However, the High Price of Agriculture Tractors may hamper the market growth.
Attributes | Details |
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Study Period | 2017-2027 |
Base Year | 2021 |
Unit | Value (USD Million) |
Key Companies Profiled | CASS Group (Germany), John Deere (United States), Mahindra and Mahindra Ltd. (India), Kubota Corporation (Japan), YANMAR (Japan), Dongfeng Motor Corporation (China), Kioti (United States), New Holland (Italy), SDF Group (Italy), Valtra (Finland), Agro Tractors (Italy) and CNH Industrial (United Kingdom) |
The market study is being classified by Type (Utility Tractors, Row-Crop Tractors and Orchard Tractors), by Application (Haying, Spraying, Harvesting, Planting and Fertilizing, Harrowing and Plowing and Cultivating) and major geographies with country level break-up..
CASS Group (Germany), John Deere (United States), Mahindra and Mahindra Ltd. (India), Kubota Corporation (Japan), YANMAR (Japan), Dongfeng Motor Corporation (China), Kioti (United States), New Holland (Italy), SDF Group (Italy), Valtra (Finland), Agro Tractors (Italy) and CNH Industrial (United Kingdom) are some of the key players profiled in the study. Additionally, the Vendors which are also part of the research are AGCO Corporation (United States), McCormick Tractors (Italy) and Versatile (Canada).
Research Analyst at AMA predicts that Italian Vendors will contribute to the maximum growth of Global Agriculture Tractor market throughout the forecasted period.
Segment Analysis
Analyst at AMA have segmented the market study of Global Agriculture Tractor market by Type, Application and Region.
On the basis of geography, the market of Agriculture Tractor has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Drivers
- Shortage of Skilled Labors and Increasing Labor Wages.
- Demand for Increased Agricultural Yield.
- Government Initiatives on Funding and Assisting Farmers
Market Trend
- Demand for Agriculture Tractors with Higher Efficiency in Terms of Fuel Consumption and Performance
Restraints
- High Price of Agriculture Tractors
Opportunities
- Demand for Tractors with Advanced Technologies such as Autonomous Tractors
- Growing Demand from Developing Countries such as India and China
- Increasing Demand from End-User Industry
Challenges
- Considerable Fragmentation of Farmland, Resulting in Low Average Farm Acreage
On 29 January 2019, YANMAR, a Japanese tractor manufacturing company has released its YM tractor with entry to the Southeast Asia tractor market. YANMAR’s all new YM351A and YM357A tractors feature a host of innovations and new technology that will streamline operator’s work.
Key Target Audience
Agriculture tractor manufacturers, Raw Material Suppliers/ Buyers, Distributors, Government Body & Associations and End-user