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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 2021-2026:

The Agricultural Tractors market is estimated at USD 60,468.10 million by 2021 and is expected to reach USD 81,910.0 million by 2026 with a CAGR registration of 5.2% in the predicted years. This growth is because of the rising demand for food products and increases in machinery in the agricultural industry. Tractors are vehicles designed to travel at low speeds while providing high torque. This high torque of the tractor allows heavy agricultural implements to be pulled behind them. They are also known for delivering power like that of a small truck. Tractors usually have two wheels. An old farm tractor is a simple open-top car.

Such as pulling or pushing agricultural equipment or trailers, plowing, investigating, harassing, planting spraying pesticides. The market for agricultural tractors is driven by factors such as increased demand for production and growth in the adoption of intelligent farming. 

Market Drivers:

The agricultural tractors market is a power-driven vehicle specially designed for agricultural activities such as pulling or pushing agricultural machinery or trailers for farming, plowing, scraping, threshing, planting, and spraying pesticides. Currently, tractors are also known as farm vehicles as they provide power and mechanization for agricultural purposes. The worldwide agriculture tractor market is also being boosted by government programs for funding and aiding farmers with lower credit rates. As a result, farm cash receipts, or profit and revenue earned from farming, rise, making tractors more affordable, which is expected to stimulate demand for agriculture tractors. For example, the Indian government and state governments have launched several programs to alleviate the situation of farmers.

Furthermore, due to technological breakthroughs altering farming and agricultural processes, the industry is also gaining traction. Agricultural tractors with self-driving capabilities, for example, are projected to boost productivity and efficiency in the industry. Therefore, these are the significant factors anticipated to fuel the global agricultural tractors market growth in the upcoming years.

Market Restraints:

The main obstacles to the growth of the global agricultural tractors market are the high cost of tractors and the various import taxes imposed by governments. The increased initial investment to buy a tractor is done in developing countries like India, China, Indonesia, Brazil, etc. Moreover, farmers with higher debt are the primary factor that hinders the growth of global agricultural markets. The High costs are also increased by various governments, which discourages farmers from buying tractors. Furthermore, a lack of awareness among farmers in developing countries about the increased benefits of tractors is expected to slow market growth. In addition, more use and availability of rental tractors are expected to reduce the purchase of new tractors, hindering market growth in the global agricultural tractor market.

AGRICULTURAL TRACTORS MARKET REPORT COVERAGE:

REPORT METRIC

DETAILS

Market Size Available

2021 – 2026

Base Year

2020

Forecast Period

2021 - 2026

CAGR

5.2%

Segments Covered

By Type, Engine Power, Drive Type

Various Analyses Covered

Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities

Regions Covered

North America, Europe, APAC, Latin America, Middle East & Africa

Market Leaders Profiled

  • Deere and Company 
  • Mahindra Group
  • Kubota Corporation
  • Yanmar 
  • Massey Ferguson 
  • Farmtac
  • Valtra Tractor 
  • CNH Industrial NV

Market Segmentation:

Agricultural Tractors Market By Type:

  • Orchard Tractors 
  • Raw-Crops Tractors

Raw or Line crop tractors segments are the most significant parts of agricultural tractors on the world market. As a result, many market players spend money on research and development to produce cutting machines and maintain a stable market position. In 2020, Deere & Company introduced a new 8 Family Tractor line-up featuring 8R wheelbarrows, 8RT two-track tractors, and the first four industrial tractors. Those new tractors usually come equipped with the latest agricultural technology with precision and allow customers to opt for the machine configuration, options, and horsepower to best suit their performance.

Agricultural Tractors Market Engine Power:

  • Below 40HP
  • 40HP-120HP
  • 121HP-180HP
  • 181HP-250HP
  • Above 250HP

Tractors below 40 H.P. are mainly used for plowing. In developing countries, the need for low H.P. tractors is high due to ordinary farmers' waste and expensive labor costs. Most probably, Farmers prefer small and customized tractors for agricultural purposes because of the size of the small farms. Moreover, With an engine capacity of no more than 1,500 ccs, those tractors sit in a small space and can be used with great flexibility. The ease of customization enables them to be more experimental in testing. Therefore, manufacturers are more likely to try new things and technologies at this stage before moving on to more powerful ones. Those tractors are integrated, weigh less than 4,000 lbs, and use less than 40 PTO HP to make attachments. At all times, all these high-yielding, cost-effective, and easy-to-use tractors are used by schools, parks, landscaping, cemeteries, and recreational farmers. Low horsepower tractors work efficiently in soft soil conditions, mainly in river basins. In addition, the low fuel consumption of small tractors helps to empower small and unsuitable farmers. Like India, the governments of emerging economies are promoting farm machinery by subsidizing the purchase of machinery and sponsoring bulk purchases by previous agencies.

Agricultural Tractors Market Drive Type:

  • Two Wheel (2WD)
  • Four-Wheel (4WD)
  • Autonomous 

Based on the drive type, the four-wheel is anticipated to have a significant global agricultural tractor market share during 2021-2026. In 4WD tractors, the transmission supplies power to all four wheels, resulting in less slippage and improved performance. Front wheels "assist" rear wheels in pulling the tractor forward in 4WD tractors, giving the rear wheels improved traction and reducing slippage. For undulated terrain and slopes, 4WD tractors are ideal. It's particularly effective for wet terrain puddling because it eliminates the need for cage wheels, which can harm roadways. In addition, it has a heavier front axle, which improves hauling stability and reduces front lifting while transporting heavy loads. Because the weight is spread between the front and rear axle components, a 4WD transmission system has a longer life. 

Regional Analysis:

Agricultural Tractors Market is regionally divided into

  • North America 
  • Europe 
  • Asia Pacific
  • Latin America 
  • Middle East and Africa 

The Asia Pacific holds the largest share at over 65% in terms of volume. This is due to the increasing demand for tractors in countries such as China and India. In India, tractors play a vital role in increasing agricultural production in the country. The country's annual sales of agricultural tractors range from 600 thousand units to more than 700 thousand units. In addition, Deere & Company has announced that most of its tractors used in America are made in India. The company exports 30% of its tractors made to India. Therefore, the demand for agricultural tractors is expected to grow in the region from 2020 to 2027. 

Europe is estimated to have seen significant growth in terms of volume during climate change. This growth is mainly due to the large farms in various European countries, such as the U.K., Denmark, Hungary, the Netherlands, and Spain. European farms account for about 38% of the world's total. In addition, according to the European Agricultural Machinery Industry Association, all tractors introduced on 1 January 2018 have been authorized to be equipped with lighting signals and brakes. Such power-related technological requirements are expected to stimulate market growth. In addition, large companies such as CLAAS KGaA mbH and CNH Industrial N.V. in this area are expected to impact market growth positively.

Recent Developments:

Deere and Company announced that it is going to enlarge the special scraper tractors. Moreover, the newly designed tractors improve the rear visibility of the operator.

On 12 October 2021, Mahindra introduced three new tractors named Yuvo Tech+. These have a power capacity of 35-42 H.P. and also have a warranty of 6 years.

Competitive landscape:

The global agricultural tractor market will be integrated with major players participating in the market by 2020. The primary key players are Deere and Company, Kubota Corporation, CNH Industrial N.V., AGVCO corporation, and CLAAS KGaA mbH.

Key Players:

The global agricultural tractors market is a certain extent, a few of the key players operating in the market are 

  • Deere and Company 
  • Mahindra Group
  • Kubota Corporation
  • Yanmar 
  • Massey Ferguson 
  • Farmtac
  • Valtra Tractor 
  • CNH Industrial NV

Impact of Covid-19 On Agricultural Tractors Market:

The covid-19 impact has influenced the global agricultural tractors market, resulting in lower tractor sales worldwide due to the lockdown. The tractor business has seen a sharp decline in the pandemic, and the most affected Company is the supplier network due to the disruption in the procurement industry. The market for agricultural tractors is a dynamic industry, which is currently being disrupted due to the unavailability of workers due to the spread of coronavirus. The hampered the production and installation of agricultural tractors in the affected countries. The disruption due to the outbreak of COVID-19 is evident in the agricultural tractor market, which has created uncertainty in dealing with the demand for a network of tractor manufacturers. The rise of machinery and government programs and the increase in the number of middle-class farmers tend to be responsible for the agricultural tractor market growth after the pandemic. Innovation in terms of performance, levels of pollution control, and increased demand for accurate agricultural equipment are expected to create opportunities for growth in the agricultural tractor market post-COVID-19.

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 Orchard Tractors   

                                6.1.2 Raw-Crops Tractors             

                                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 Engine Power                           

                                6.2.1 Below 40HP            

                                6.2.2 40HP-120HP            

                                6.2.3 121HP-180HP         

                                6.2.4 181HP-250HP         

                                6.2.5 Above 250HP         

                                6.2.6 Market Size Estimations & Forecasts (2021-2026)   

                                6.2.7 Y-o-Y Growth Rate Analysis             

                                6.2.8 Market Attractiveness Index          

                6.3 Agricultural Tractors Market, By Application                 

                                6.3.1 Harvesting               

                                6.3.2 Seed Sowing          

                                6.3.3 Irrigation  

                                6.3.4 Market Size Estimations & Forecasts (2021-2026)   

                                6.3.5 Y-o-Y Growth Rate Analysis             

                                6.3.6 Market Attractiveness Index          

                6.4 Agricultural Tractors Market, By Drive Type                  

                                6.4.1 2-Wheel Drive       

                                6.4.2 4-Wheel drive        

                                6.4.3 Autonomous          

                                6.4.4 Market Size Estimations & Forecasts (2021-2026)   

                                6.4.5 Y-o-Y Growth Rate Analysis             

                                6.4.6 Market Attractiveness Index          

7. Geographical Landscape                                         

                7.1 Global Agricultural Tractors 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 Engine Power  

                                7.2.4 By Application        

                                7.2.5 By Drive 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 Engine Power  

                                7.3.4 By Application        

                                7.3.5 By Drive 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 Engine Power  

                                7.4.4 By Application        

                                7.4.5 By Drive 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 Engine Power  

                                7.5.4 By Application        

                                7.5.5 By Drive 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 Engine Power  

                                7.6.4 By Application        

                                7.6.5 By Drive Type         

8. Key Player Analysis                                    

                8.1 Deere and Company                              

                                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 Mahindra Group                      

                8.3 Kubota Corporation                

                8.4 Yanmar                         

                8.5 Massey Ferguson                    

                8.6 Farmtac                        

                8.7 Valtra Tractor                             

                8.8 CNH Industrial NV                    

9. Market Outlook & Investment Opportunities                                

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
  1. Global Agricultural Tractors  Market By Region, From 2021-2026 ( USD Billion )
  2. Global Agricultural Tractors  Market By Type, From 2021-2026 ( USD Billion )
  3. Global Orchard Tractors Market By Region, From 2021-2026 ( USD Billion )
  4. Global Raw-Crops Tractors Market By Region, From 2021-2026 ( USD Billion )
  5. Global Agricultural Tractors  Market By Engine Power, From 2021-2026 ( USD Billion )
  6. Global Below 40HP Market By Region, From 2021-2026 ( USD Billion )
  7. Global 40HP-120HP Market By Region, From 2021-2026 ( USD Billion )
  8. Global 121HP-180HP Market By Region, From 2021-2026 ( USD Billion )
  9. Global 181HP-250HP Market By Region, From 2021-2026 ( USD Billion )
  10. Global Above 250HP Market By Region, From 2021-2026 ( USD Billion )
  11. Global Agricultural Tractors  Market By Application, From 2021-2026 ( USD Billion )
  12. Global Harvesting Market By Region, From 2021-2026 ( USD Billion )
  13. Global Seed Sowing Market By Region, From 2021-2026 ( USD Billion )
  14. Global Irrigation Market By Region, From 2021-2026 ( USD Billion )
  15. Global Agricultural Tractors  Market By Drive Type, From 2021-2026 ( USD Billion )
  16. Global 2-Wheel Drive Market By Region, From 2021-2026 ( USD Billion )
  17. Global 4-Wheel drive Market By Region, From 2021-2026 ( USD Billion )
  18. Global Autonomous Market By Region, From 2021-2026 ( USD Billion )

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