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Pulished Date August, 2021
ID: 12088
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Agricultural Tractors Market Segmentation By Application (Harvesting, Seed Sowing, Irrigation, Others), By Type (Petrol & Diesel, Electric), By Operation (Manual, Autonomous), By Driver Type (2-Wheel Drive, 4-Wheel Drive), and Region - Industry Analysis, Share, Growth and Forecast 2021-2026.

Pulished: August, 2021
ID: 12088
Pages: 175

Agricultural Tractors Market Size, Growth, Trends and Forecast:

A tractor is a type of vehicle designed to generate high amounts of torque at low RPMs to tow heavy machinery used in agriculture, mining, or construction. Earlier tractors were only used to till the land, but nowadays, they have various implementations in agriculture. Various different mounts are mounted on the tractor to do various tasks.

The rising demand for food products is driving the market growth of the agricultural tractors market. The rapidly increasing population is increasing the demand for food security among various governments, promoting the use of equipment to increase yield and achieve more productivity, driving the market growth in the Agricultural Tractors Market.

Impact of COVID-19 on the Agricultural Tractors Market:

The COVID-19 pandemic impacted the Agricultural Tractors Market, causing a sharp dip in the markets. The dealership networks were mostly affected due to supply chain disruptions due to the governments' travel, import and export restrictions. In addition, the manufacturing activities were halted due to lockdown implementations and shortages of raw materials, causing production delays. The pandemic further caused labor shortages which in turn caused manufacturing issues. However, there is expected to be strong growth as businesses and manufacturers are resuming operations, and travel, import, and export restrictions are being reduced.

Recent Developments:

  • In 2021, TAFE, the manufacturers of Massey Ferguson, launched its new Dynatrack series. An advanced lineup of tractors aims to provide increased performance, utility, and sophisticated technology in a single tractor.
  • In 2020, Kubota Corporation announced their investment in Escorts Limited, an Indian tractor manufacturer; this investment is expected to improve their presence in the region.

Drivers and Restraints of Agricultural Tractors Market:

Drivers:

Major factors driving the market growth of the Global Agricultural Tractors Market are the increasing mechanization in the agriculture industry and the increasing government initiatives promoting the usage of machines in agriculture. Governments worldwide are promoting the use of agriculture machines and tractors for farming and other agricultural activities. For example, The Government of India introduced a “Macro-Management Scheme” which provides a 25% subsidy on the purchase of tractors; the Government of Canada introduced the “Canadian Agriculture Loans Act” program under this program, the farmers can take loans up to 500 thousand USD for the purchase of land, tractors, etc. such initiatives taken by the governments are boosting the market growth of the Global Agricultural Tractors Market. The increasing demand for Agricultural Tractors for their operational efficiency and reduced overall costs is driving the market growth of the Global Agricultural Tractors Market. The shortage of labor due to rapid urbanization and the migration of labor to cities is further increasing the demand for agricultural tractors. The shortage of skilled labor and the increasing labor costs are influencing farmers to adopt the use of Agricultural Tractors. Major technological advancements in farming and agricultural processes, such as the introduction of self-driving tractors, are expected to help with the market expansion. Further benefits of using Agricultural Tractors such as improved productivity and efficiency and reduced labor costs are expected to drive the market growth in the Global Agricultural Tractors Market. Furthermore, the need to replace existing or old machinery with new and advanced systems is expected to boost the market growth of the Global Agricultural Tractors Market.

Restraints:

The major factors restricting the market growth of the Global Agricultural Tractors Market are the high cost of tractors and the various import taxes imposed by the governments. The high initial investment of buying a tractor, especially in developing countries such as India, China, Indonesia, Brazil, etc., where farmers are usually in high debts, is hindering the market growth of the Global Agricultural Tractors Market. The high cost is further increased by the various import taxes levied by various governments, which is demotivating farmers from buying tractors. The lack of awareness among farmers in developing countries about the increased benefits of using tractors is expected to slow the market growth. The increasing use and availability of tractor rentals are expected to reduce the purchase of new tractors, hindering the market growth in the Global Agricultural Tractors Market.

Agricultural Tractors Market Segmentation:

Agricultural Tractors Market - By Application:

  • Harvesting

  • Seed Sowing
  • Irrigation
  • Others

The irrigation segment dominated the market share of the Global Agricultural Tractors Market and is expected to grow at an annual rate of 4.7% during the forecasted period. The seed sowing segment is expected to grow at a high rate due to the increasing benefits of sowing seeds using seed sowing machines.

Agricultural Tractors Market - By Type:

  • Petrol & Diesel
  • Electric

The Petrol & Diesel tractors segment dominated the Global Agricultural Tractors Market market as these are widely used and provide more torque than electrical tractors. The electrical segment is expected to grow in the future owing to technological advancements in electric tractors technology,

Agricultural Tractors Market - By Operation:

  • Manual
  • Autonomous

The manual tractors segment dominated the market share of the Global Agricultural Tractors Market. The Autonomous tractors segment is expected to be the fastest-growing segment in the Global Agricultural Tractors Market.

Agricultural Tractors Market - By Driver Type:

  • 2-Wheel Drive
  • 4-Wheel Drive

The 2-Wheel Drive segment dominated the market share of the Global Agricultural Tractors Market and is expected to grow at an annual rate of 5% further.

Regional analysis:

  • North America
  • Europe
  • Asia-Pacific
  • Latin America
  • Middle-East & Africa

The Asia-Pacific Agricultural Tractors Market dominated the market share of the Global Agricultural Tractors Market. The North America Agricultural Tractors Market accounts for the second-largest market share of the Global Agricultural Tractors Market. The Europe Agricultural Tractors Market is the fastest-growing market in the Global Agricultural Tractors Market. The Latin America Agricultural Tractors Market is expected to grow at a high rate due to the region's increasing demand. The Middle East & Africa Agricultural Tractors Market is expected to grow at a slow pace owing to the lack of capital for investment among developing countries in the region.

Leading company:

Deere & Company is the leading company in the Agricultural Tractors Market.

Key players:

  • Claas Group
  • Deere & Company
  • Mahindra & Mahindra Ltd
  • CNH Industrial NV
  • Kubota Corporation
  • SDF
  • Massey Ferguson

1. Introduction                                   

            1.1 Market Definition            

            1.2 Scope of the report                      

            1.3 Study Assumptions                      

            1.4 Base Currency, Base Year and Forecast Periods             

2. Research Methodology                              

            2.1 Analysis Design               

            2.2 Research Phases               

                        2.2.1 Secondary Research      

                        2.2.2 Primary Research          

                        2.2.3 Data Modelling 

                        2.2.4 Expert Validation         

            2.3 Study Timeline                 

3. Report Overview                           

            3.1 Executive Summary                     

            3.2 Key Inferencees               

4. Market Dynamics                           

            4.1 Impact Analysis               

                        4.1.1 Drivers  

                        4.1.2 Restaints

                        4.1.3 Opportunities    

            4.2 Regulatory Environment              

            4.3 Technology Timeline & Recent Trends               

5. Competitor Benchmarking Analysis                                  

            5.1 Key Player Benchmarking                       

                        5.1.1 Market share analysis    

                        5.1.2 Products/Service           

                        5.1.3 Regional Presence         

            5.2 Mergers & Acquistion Landscape           

            5.3 Joint Ventures & Collaborations              

6. Market Segmentation                                 

            6.1 Agricultural Tractors Market, By Type                

                        6.1.1 Petrol & Diesel  

                        6.1.2 Electric  

                        6.1.3 Market Size Estimations & Forecasts (2021-2026)      

                        6.1.4 Y-o-Y Growth Rate Analysis   

                        6.1.5 Market Attractiveness Index    

            6.2 Agricultural Tractors Market, By Application                 

                        6.2.1 Harvesting         

                        6.2.2 Seed Sowing     

                        6.2.3 Irrigation           

                        6.2.4 Others   

                        6.2.5 Market Size Estimations & Forecasts (2021-2026)      

                        6.2.6 Y-o-Y Growth Rate Analysis   

                        6.2.7 Market Attractiveness Index    

            6.3 Agricultural Tractors Market, By Operation                    

                        6.3.1 Manual  

                        6.3.2 Autonomous     

                        6.3.3 Market Size Estimations & Forecasts (2021-2026)      

                        6.3.4 Y-o-Y Growth Rate Analysis   

                        6.3.5 Market Attractiveness Index    

            6.4 Agricultural Tractors Market, By Driver Type                

                        6.4.1 2-Wheel Drive   

                        6.4.2 4-Wheel Drive   

                        6.4.3 Market Size Estimations & Forecasts (2021-2026)      

                        6.4.4 Y-o-Y Growth Rate Analysis   

                        6.4.5 Market Attractiveness Index    

7. Geographical Landscape                            

            7.1 Global Identity Governance and Administration Market, by Region                 

            7.2 North America - Market Analysis (2021 - 2026)             

                        7.2.1 By Country       

                                    7.2.1.1 USA

                                    7.2.1.2 Canada

                        7.2.2 By Type

                        7.2.3 By Application  

                        7.2.4 By Operation    

                        7.2.5 By Driver Type 

            7.3 Europe                  

                        7.3.1 By Country       

                                    7.3.1.1 UK

                                    7.3.1.2 France

                                    7.3.1.3 Germany

                                    7.3.1.4 Spain

                                    7.3.1.5 Italy

                                    7.3.1.6 Rest of Europe

                        7.3.2 By Type

                        7.3.3 By Application  

                        7.3.4 By Operation    

                        7.3.5 By Driver Type 

            7.4 Asia Pacific                      

                        7.4.1 By Country       

                                    7.4.1.1 China

                                    7.4.1.2 India

                                    7.4.1.3 Japan

                                    7.4.1.4 South Korea

                                    7.4.1.5 South East Asia

                                    7.4.1.6 Australia & NZ

                                    7.4.1.7 Rest of Asia-Pacific

                        7.4.2 By Type

                        7.4.3 By Application  

                        7.4.4 By Operation    

                        7.4.5 By Driver Type 

            7.5 Latin America                  

                        7.5.1 By Country       

                                    7.5.1.1 Brazil

                                    7.5.1.2 Argentina

                                    7.5.1.3 Mexico

                                    7.5.1.4 Rest of Latin America

                        7.5.2 By Type

                        7.5.3 By Application  

                        7.5.4 By Operation    

                        7.5.5 By Driver Type 

            7.6 Middle East and Africa               

                        7.6.1 By Country       

                                    7.6.1.1 Middle East

                                    7.6.1.2 Africa

                        7.6.2 By Type

                        7.6.3 By Application  

                        7.6.4 By Operation    

                        7.6.5 By Driver Type 

8. Key Player Analysis                                   

            8.1 Claas Group                     

                        8.1.1 Business Description     

                        8.1.2 Products/Service           

                        8.1.3 Financials          

                        8.1.4 SWOT Analysis

                        8.1.5 Recent Developments   

                        8.1.6 Analyst Overview         

            8.2 Deere & Company                       

            8.3 Mahindra & Mahindra Ltd                      

            8.4 CNH Industrial NV                     

            8.5 Kubota Corporation                     

            8.6 SDF                      

            8.7 Massey Ferguson             

9. Market Outlook & Investment Opportunities                               

10. Appendix                         

            List of Tables             

            List of Figures            

  • Global, regional and country-level analysis and forecasts of the study market; providing Insights on the major countries/regions in which this industry is blooming and to also identify the regions that are still untapped
  • Segment-level analysis in terms of technology, component, and type along with market size forecasts and estimations to detect key areas of industry growth in detail
  • Identification of key drivers, restraints, opportunities, and challenges (DROC) in the market and their impact on shifting market dynamics
  • Study of the effect of exogenous and endogenous factors that affect the global market; which includes broadly demographic, economics, and political, among other macro-environmental factors presented in an extensive PESTLE Analysis
  • Study the micro environment factors that determine the overall profitability of an Industry, using Porter’s five forces analysis for analysing the level of competition and business strategy development
  • A comprehensive list of key market players along with their product portfolio, current strategic interests, key financial information, legal issues, SWOT analysis and analyst overview to study and sustain the market environment
  • Competitive landscape analysis listing out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies
  • An executive summary, abridging the entire report in such a way that decision-making personnel can rapidly become acquainted with background information, concise analysis and main conclusions
  • Expertly devised analyst overview along with Investment opportunities to provide both individuals and organizations a strong financial foothold in the market
  • Global Agricultural Tractors Market By Region, From 2021-2026 ( USD Billion )
  • Global Agricultural Tractors Market By Type, From 2021-2026 ( USD Billion )
  • Global Petrol & Diesel Market By Region, From 2021-2026 ( USD Billion )
  • Global Electric Market By Region, From 2021-2026 ( USD Billion )
  • Global Agricultural Tractors Market By Application, From 2021-2026 ( USD Billion )
  • Global Harvesting Market By Region, From 2021-2026 ( USD Billion )
  • Global Seed Sowing Market By Region, From 2021-2026 ( USD Billion )
  • Global Irrigation Market By Region, From 2021-2026 ( USD Billion )
  • Global Others Market By Region, From 2021-2026 ( USD Billion )
  • Global Agricultural Tractors Market By Operation, From 2021-2026 ( USD Billion )
  • Global Manual Market By Region, From 2021-2026 ( USD Billion )
  • Global Autonomous Market By Region, From 2021-2026 ( USD Billion )
  • Global Agricultural Tractors Market By Driver Type, From 2021-2026 ( USD Billion )
  • Global 2-Wheel Drive Market By Region, From 2021-2026 ( USD Billion )
  • Global 4-Wheel Drive Market By Region, From 2021-2026 ( USD Billion )

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