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Farm Tractors - Global Strategic Business Report

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    Report

  • 462 Pages
  • November 2024
  • Region: Global
  • Global Industry Analysts, Inc
  • ID: 2531232
The global market for Farm Tractors is estimated at US$84.1 Billion in 2023 and is projected to reach US$125.3 Billion by 2030, growing at a CAGR of 5.9% from 2023 to 2030. This comprehensive report provides an in-depth analysis of market trends, drivers, and forecasts, helping you make informed business decisions.

The growth in the farm tractor market is driven by several factors, including technological advancements, increasing demand for food due to the growing global population, and the economic shift towards mechanization in developing countries. As the world population continues to expand, the agricultural sector is under pressure to enhance productivity. Advanced tractors play a critical role in achieving higher output by enabling more efficient farming methods. In developing regions, the transition from manual labor to mechanization is a significant trend that boosts demand for tractors as they represent one of the first investments in agricultural mechanization. Furthermore, the adoption of sustainable farming practices and the need for precision agriculture are accelerating the demand for tractors equipped with advanced technologies such as GPS and data analytics. Consumer behavior, especially in developed markets, is increasingly influenced by environmental concerns, pushing manufacturers to innovate with more energy-efficient and lower-emission tractor models. These dynamics ensure continued investments and innovations in the tractor industry, driving growth and development in agriculture worldwide.

Key Insights:

  • Market Growth: Understand the significant growth trajectory of the Upto 30 HP Power Output Farm Tractors segment, which is expected to reach US$82.0 Billion by 2030 with a CAGR of a 6.1%. The 31 HP to 100 HP Power Output Farm Tractors segment is also set to grow at 6.0% CAGR over the analysis period.
  • Regional Analysis: Gain insights into the U.S. market, estimated at $12.7 Billion in 2023, and China, forecasted to grow at an impressive 7.3% CAGR to reach $42.0 Billion by 2030. Discover growth trends in other key regions, including Japan, Canada, Germany, and the Asia-Pacific.

Why You Should Buy This Report:

  • Detailed Market Analysis: Access a thorough analysis of the Global Farm Tractors Market, covering all major geographic regions and market segments.
  • Competitive Insights: Get an overview of the competitive landscape, including the market presence of major players across different geographies.
  • Future Trends and Drivers: Understand the key trends and drivers shaping the future of the Global Farm Tractors Market.
  • Actionable Insights: Benefit from actionable insights that can help you identify new revenue opportunities and make strategic business decisions.

Key Questions Answered:

  • How is the Global Farm Tractors Market expected to evolve by 2030?
  • What are the main drivers and restraints affecting the market?
  • Which market segments will grow the most over the forecast period?
  • How will market shares for different regions and segments change by 2030?
  • Who are the leading players in the market, and what are their prospects?

Report Features:

  • Comprehensive Market Data: Independent analysis of annual sales and market forecasts in US$ Million from 2023 to 2030.
  • In-Depth Regional Analysis: Detailed insights into key markets, including the U.S., China, Japan, Canada, Europe, Asia-Pacific, Latin America, Middle East, and Africa.
  • Company Profiles: Coverage of major players such as Caterpillar, Inc., Deere & Company, AGCO Corporation, and more.
  • Complimentary Updates: Receive free report updates for one year to keep you informed of the latest market developments.

Select Competitors (Total 83 Featured):

  • Caterpillar, Inc.
  • Deere & Company
  • AGCO Corporation
  • CNH Industrial NV
  • Bucher Industries AG
  • Buhler Industries, Inc.
  • AGCO GmbH (Fendt)
  • CLAAS of America LLC
  • Claas UK Ltd.
  • Daedong Corporation
  • Agria-Werke GmbH
  • Changzhou Dongfeng Agricultural Machinery Group Co., Ltd.
  • De Pietri Srl
  • China National Machinery Industry Corporation
  • Amisy Machinery

Table of Contents

I. METHODOLOGYII. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
  • Influencer Market Insights
  • World Market Trajectories
  • Farm Tractors: A Prelude
  • Different Types of Farm Tractors
  • Tractors - The Workhorses of Agriculture
  • Growth Drivers in a Nutshell
  • Key Challenges
  • Population Growth & Demand for Food to Create Long-Term Stability in Growth
  • Emerging Economies Drive Market Expansion
  • Competitive Scenario
  • Fierce Competition Keeps Farm Tractor Makers on Toes
  • Tractor Manufacturers Feel the Heat of Competition from Asian Manufacturers
  • Farm Tractors - Global Key Competitors Percentage Market Share in 2024 (E)
  • Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2024 (E)
2. FOCUS ON SELECT PLAYERS
  • AGCO Corporation (USA)
  • Antonio Carraro S.p.A. (Italy)
  • Argo Tractors S.p.A. (Italy)
  • Changzhou Dongfeng Agricultural Machinery Group Co., Ltd. (China)
  • CLAAS KGaA mbH (Germany)
  • CNH Industrial N.V. (UK)
  • Steyr Landmaschinentechnik AG (Austria)
  • Daedong-USA, Inc. KIOTI Tractor Division (USA)
  • Deere & Company (John Deere) (USA)
  • Escorts Group (India)
  • Force Motors Ltd. (India)
  • Indo Farm Equipment Ltd. (India)
  • Iseki & Co. Ltd. (Japan)
  • Kubota Corporation (Japan)
  • Mahindra and Mahindra Ltd. (India)
  • Pronar Sp. z o.o. (Poland)
  • SDF S.p.A. (Italy)
  • Sonalika International Tractors Limited (India)
  • Tractors and Farm Equipment Ltd. (TAFE) (India)
  • Traktorenwerk Lindner GmbH (Austria)
  • Yanmar Agricultural Machinery Manufacturing Co., Ltd. (Japan)
  • Zetor Tractors A.S (Czechia)
3. MARKET TRENDS & DRIVERS
  • Increasing Mechanization of Farming Practices Drives Sales of Tractors
  • Percentage of Population Engaged in Agriculture for Select Countries
  • Robust Demand for Advanced Tractors in Developed Markets
  • Strong Adoption across Industrializing Nations
  • Agricultural Labor Shortage & Rising Labor Wages to Spur Demand for Tractors
  • Food Security Drives Governments to Stress on Improving Productivity
  • Growing Agricultural Trade Worldwide to Create Major Opportunities for Farm Tractor Vendors
  • Global Prices of Cereals in US$ per Ton for the Years 2019 and 2025
  • Farm Consolidation to Lead to Demand for Larger Tractors
  • Autonomous Farm Tractor to Become an Essential Constituent of Precision Agriculture
  • Growing Investments in Smart Agriculture Bodes Well for the Adoption of Autonomous Tractors: Global Smart Agriculture Market Worldwide (In US$ Billion) for the Years 2019 & 2024
  • Technological Innovations to Drive Productivity in Agriculture
  • Renting Farm Equipment and Tractors Picking Up Pace
  • Expanding Global Population & Increase in Agricultural Output to Drive Demand for Tractors
  • World Population by Geographic Region (2018-2050) (in Thousands)
  • Focus on Precision Farming Lends Traction to Tractor Sales
  • Technological Innovations in Farming Equipment Lead the Way
  • Technologically Advanced Tractors Gain Prominence in Developed Markets
  • Comfort Features: An Important Value Addition Gaining Traction
  • Alternative Fuel Tractors: An Important Product Development in the Coming Years
  • Small Tractors Gain Ground in Developing Regions
  • Certified Used Machines are Catching Up Globally
  • Rising Demand for Energy Crops: A Business Case for Farm Tractors
  • World Biodiesel Production & Consumption in Million Liters for the Years 2019 through 2025
  • World Ethanol Production & Consumption in Million Liters for the Years 2019 through 2025
  • Biodiesel Production and Consumption in Thousand Barrels per Day by Select Countries
  • Average Biofuel Yields of First Generation Feedstocks
4. GLOBAL MARKET PERSPECTIVE
  • Table 1: World Farm Tractors Market Analysis of Annual Sales in US$ Million for Years 2014 through 2030
  • Table 2: World Recent Past, Current & Future Analysis for Farm Tractors by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2023 through 2030 and % CAGR
  • Table 3: World Historic Review for Farm Tractors by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
  • Table 4: World 16-Year Perspective for Farm Tractors by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets for Years 2014, 2024 & 2030
  • Table 5: World Recent Past, Current & Future Analysis for Upto 30 HP by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2023 through 2030 and % CAGR
  • Table 6: World Historic Review for Upto 30 HP by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
  • Table 7: World 16-Year Perspective for Upto 30 HP by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2014, 2024 & 2030
  • Table 8: World Recent Past, Current & Future Analysis for 31 HP to 100 HP by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2023 through 2030 and % CAGR
  • Table 9: World Historic Review for 31 HP to 100 HP by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
  • Table 10: World 16-Year Perspective for 31 HP to 100 HP by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2014, 2024 & 2030
  • Table 11: World Recent Past, Current & Future Analysis for 101 HP to 200 HP by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2023 through 2030 and % CAGR
  • Table 12: World Historic Review for 101 HP to 200 HP by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
  • Table 13: World 16-Year Perspective for 101 HP to 200 HP by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2014, 2024 & 2030
  • Table 14: World Recent Past, Current & Future Analysis for Above 200 HP by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2023 through 2030 and % CAGR
  • Table 15: World Historic Review for Above 200 HP by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
  • Table 16: World 16-Year Perspective for Above 200 HP by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2014, 2024 & 2030
  • Table 17: World Recent Past, Current & Future Analysis for Two Wheel Drive (2WD) by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2023 through 2030 and % CAGR
  • Table 18: World Historic Review for Two Wheel Drive (2WD) by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
  • Table 19: World 16-Year Perspective for Two Wheel Drive (2WD) by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2014, 2024 & 2030
  • Table 20: World Recent Past, Current & Future Analysis for Four Wheel Drive (4WD) by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2023 through 2030 and % CAGR
  • Table 21: World Historic Review for Four Wheel Drive (4WD) by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
  • Table 22: World 16-Year Perspective for Four Wheel Drive (4WD) by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2014, 2024 & 2030
III. MARKET ANALYSIS
UNITED STATES
  • Farm Tractors Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United States for 2024 (E)
  • Two-Wheel Drive (2WD) Tractors Dominate the Farm Tractors Market
  • Buyer Focus on Functionality and Comfort on the Rise
  • Robots to Drive Farm Tractors
  • Competitive Scenario
  • US Farm Tractors Market Share (in %) by Company: 2019 & 2025
CANADA
JAPAN
  • Farm Tractors Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Japan for 2024 (E)
CHINA
  • Farm Tractors Market Presence - Strong/Active/Niche/Trivial - Key Competitors in China for 2024 (E)
  • High-Power Tractors Witness Growth
  • Chinese Agricultural Equipment Sales to Skyrocket
  • Government Initiatives to Boost Domestic Agricultural Machinery Sector
  • Major Factors Influencing Farm Equipment Purchases
EUROPE
  • Farm Tractors Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Europe for 2024 (E)
  • European Market Overview
  • European Farm Tractors Market Estimates and Forecasts in Units by Region/Country: 2018 to 2025
  • Farm Tractors Market in Europe: Percentage Share Breakdown of Unit Sales by Region/Country for 2009, 2019, and 2025
  • European Tractors Market: A Highly Concentrated One
  • Overview of European Agricultural Machinery Market
  • Tractor Technology Trends in Europe
FRANCE
  • Farm Tractors Market Presence - Strong/Active/Niche/Trivial - Key Competitors in France for 2024 (E)
  • Competitive Scenario - A Relatively Consolidated Market
GERMANY
  • Farm Tractors Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Germany for 2024 (E)
  • Competition
ITALY
UNITED KINGDOM
  • Farm Tractors Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United Kingdom for 2024 (E)
SPAINRUSSIAREST OF EUROPE
ASIA-PACIFIC
  • Farm Tractors Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Asia-Pacific for 2024 (E)
  • Asia-Pacific Farm Tractors Market Growth Prospects in Units by Region/Country for the Period 2018-2025
  • Farm Tractors Historic Market Analysis in Asia-Pacific in Units by Region/Country: 2009-2017
  • Asia-Paficic Farm Tractors Market by Region/Country: Percentage Breakdown of Unit Sales for 2009, 2019, and 2025
AUSTRALIA
  • Farm Tractors Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Australia for 2024 (E)
INDIA
  • Farm Tractors Market Presence - Strong/Active/Niche/Trivial - Key Competitors in India for 2024 (E)
  • Indian Tractor Market Prospects Heavily Tied to Farm Income
  • Small Tractors Gain Market
  • Government Initiatives to Benefit Market
  • Overview of Agricultural Mechanization in India
  • Threats to Agricultural Equipment Sector
SOUTH KOREAREST OF ASIA-PACIFIC
LATIN AMERICA
  • Farm Tractors Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Latin America for 2024 (E)
  • Latin American Farm Tractors Market Growth Prospects in Units by Region/Country for the Period 2018-2025
  • Farm Tractors Historic Market Analysis in Latin America in Units by Region/Country: 2009-2017
  • Latin American Farm Tractors Market by Region/Country: Percentage Breakdown of Unit Sales for 2009, 2019, and 2025
ARGENTINABRAZILMEXICOREST OF LATIN AMERICA
MIDDLE EAST
  • Farm Tractors Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Middle East for 2024 (E)
IRANISRAELSAUDI ARABIAUNITED ARAB EMIRATESREST OF MIDDLE EAST
AFRICA
  • Farm Tractors Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Africa for 2024 (E)
IV. COMPETITION

Companies Mentioned

  • Caterpillar, Inc.
  • Deere & Company
  • AGCO Corporation
  • CNH Industrial NV
  • Bucher Industries AG
  • Buhler Industries, Inc.
  • AGCO GmbH (Fendt)
  • CLAAS of America LLC
  • Claas UK Ltd.
  • Daedong Corporation
  • Agria-Werke GmbH
  • Changzhou Dongfeng Agricultural Machinery Group Co., Ltd.
  • De Pietri Srl
  • China National Machinery Industry Corporation
  • Amisy Machinery

Table Information