Global Agricultural Tractors Market – Industry Analysis and Forecast (2018-2026)
Global Agricultural Tractors Market is expected to reach US$ 3.3Mn Units by 2026 from US$ 1.75Mn Units in 2017 at CAGR of 8.25%.
Global Agricultural Tractors Market is segmented by power, drive type, operation mode and region. Power is segregated by Under 40 HP, 40 HP & Under 100 HP and 100 HP & above. Drive type is split into 2-Wheel Drive and 4-Wheel Drive. The operation mode is classified as a manual tractor, autonomous tractor. Region-wise divided into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America.
Global Agricultural Tractors Market
Increasing population has improved the demand for agricultural products which has furthered the demand for agricultural equipment around the globe. Tractors are powerful vehicles designed to deliver power and traction to enable them to perform various agricultural tasks such as ploughing, tilling, hauling, and planting. They assist mechanize agricultural tasks and are extensively used in farming and agriculture. The rise in global population and the introduction of driverless agricultural tractors are the major drivers of the market. The high upfront cost is the restraint of the market. The trend is increasing in M&A activities.
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Based on the drive type, the 4-Wheel Drive (4WD) segment is projected to expand at a significant growth rate during the forecast period owing to increased demand for 4WD agriculture tractors, as they perform powerful agriculture tasks such as tillage and sowing. Four-wheel drive, 4WD, or 4×4 (“four by four”) is a four-wheeled vehicle with a drivetrain that allows all four wheels to receive twisting from the engine simultaneously. The term four-wheel drive defines truck-like vehicles that require the driver to manually switch between two-wheel drive mode for streets and four-wheel drive mode for low traction conditions such as ice, mud, snow, slippery surfaces, or loose gravel.
On the basis of an operation mode, Autonomous tractors are advanced technology in the market. To try and save fuel and become more efficient, growers began using GPS technologies to guide their tractors across playing field. As advanced and new technologies made wireless communications easier and more reliable, these first steps toward self-driving tractors laid the groundwork for the autonomous vehicles that are now widely used in the large-scale farming industry. Whereas completely autonomous tractors have not yet been approved for use in the field, that’s not stopping manufacturers from developing them.
In terms of region, Asia Pacific has proved its mettle as the most lucrative region for overall farm tractors market with a market share was more than 45% in 2017 and is further anticipated to grow at a brisk pace during the forecast period from 2018 to 2026. Features such as high concentration of farmlands, the presence of agricultural countries and high-density of the population have made emerging economies such as China and India major marketplaces for farm tractors. So, reliable growth in the agriculture sector in Asia Pacific countries is expected to support the growth of the overall farm tractors market.
Key players operating in agriculture tractor market include Deere & Company, Mahindra Group, Kutoba Corporation, Yanmar, Massey Ferguson, Farmtac, Dongfeng, Kioti Tractor, New Holland, SDF Group, Valtra Tractor, Argo Tractors S.p.A., and CNH Industrial N.V., AGCO Corp., Daedong Industrial, Escorts Group, Kubota, Mahindra & Mahindra, McCormick International, SAME DEUTZ-FAHR Group etc.
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Scope of the Global Agricultural Tractors Market
Global Agricultural Tractors Market, by Power
• Under 40 HP
• 40 HP & Under 100 HP
• 100 HP & above
Global Agricultural Tractors Market, by Drive type
• 2-Wheel Drive
• 4-Wheel Drive
Global Agricultural Tractors Market, by operation mode
• Manual tractor
• Autonomous tractor
Global Agricultural Tractors Market, by Agriculture Application
• Harvesting
• Seed Sowing
• Irrigation
• Others
Global Agricultural Tractors Market, by Region
• North America
• Europe
• Asia Pacific
• Middle East and Africa
• Latin America
Key players operating in global agriculture tractor market include
• Deere & Company
• Mahindra Group
• Kutoba Corporation
• Yanmar
• Massey Ferguson
• Farmtac
• Dongfeng
• Kioti Tractor
• New Holland
• SDF Group
• Valtra Tractor
• Argo Tractors S.p.A.,
• CNH Industrial N.V.
• AGCO Corp.
• Daedong Industrial
• Escorts Group
• Kubota
• McCormick International
• SAME DEUTZ-FAHR Group etc.
MAJOR TOC OF THE REPORT
Chapter One: Agricultural Tractors Market Overview
Chapter Two: Manufacturers Profiles
Chapter Three: Global Agricultural Tractors Market Competition, by Players
Chapter Four: Global Agricultural Tractors Market Size by Regions
Chapter Five: North America Agricultural Tractors Revenue by Countries
Chapter Six: Europe Agricultural Tractors Revenue by Countries
Chapter Seven: Asia-Pacific Agricultural Tractors Revenue by Countries
Chapter Eight: South America Agricultural Tractors Revenue by Countries
Chapter Nine: Middle East and Africa Revenue Agricultural Tractors by Countries
Chapter Ten: Global Agricultural Tractors Market Segment by Type
Chapter Eleven: Global Agricultural Tractors Market Segment by Application
Chapter Twelve: Global Agricultural Tractors Market Size Forecast (2019-2026)
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