Mexico Tractors Market - Industry Analysis & Forecast 2023-2028

The Mexico tractors market size witnessed shipments is expected to reach 13.9 thousand units by 2028.

KEY HIGHLIGHTS

• The Central region witnessed a massive increase in farm mechanization in terms of agricultural and industrial productivity.
• The Mexico tractors market is highly concentrated, with the top players controlling most of the industry. Domestic and global brands, on the other hand, are equally represented in the industry.
• The Mexican government plans schemes and initiatives to facilitate credit and improve agriculture-related operations, which will contribute to the growth of the overall value chain of the industry.
• The Mexico tractors industry increased by 4.9% in 2022 from 2021. The increase in crop production and tractor sales was due to favorable climate conditions and government support to farmers.

SEGMENTATION INSIGHTS

INSIGHTS BY HORSEPOWER

In 2022, the 50 HP- 100 HP segment recorded a larger Mexico tractors market share. The major factor for the steady growth of the medium-power range of tractors is the increased business turnover among hobby and livestock farmers. Tractors less than 50 HP often contain features designed to meet the small farms' demands and specific applications. These features may include hydraulic systems for raising and lowering attachments, power take-off (PTO) for operating various implements, and changing track widths for increased traction. Despite being small, these tractors are versatile since they accommodate many implements and attachments. They are flexible for many activities throughout the farming cycle since they may be used with tools like mowers, loaders, tillers, backhoes, and seeders.

Segmentation by Horsepower

• Less than 50 HP
• 50-100 HP
• 101-150 HP
• 151-250 HP
• Above 250 HP

INSIGHTS BY DRIVE TYPE

The ease of driving and flexibility with light loads and in plain fields are major factors that boost the demand for two-wheel-drive tractors in the Mexico tractors market. Moreover, there are a lot of small and medium-sized farms in Mexico, and for their area of land and farming methods, many farmers feel that 2WD tractors are adequate. Further, Four-wheel drive tractors' ability to power all four wheels improves the traction and pulling power. These tractors are more adaptable and can do various agricultural tasks, such as tiling, plowing, and navigating difficult terrain. Larger farms or applications that require heavy-duty equipment employ 4WD tractors.

Segmentation by Wheel Drive

• 2-Wheel-Drive
• 4-Wheel-Drive

REGIONAL ANALYSIS

The central region dominated the Mexico tractors market share, accounting for over 50% in 2022. The agricultural sector in the central area, which includes states like Jalisco and Michoacan, is diverse. Fruits, sugarcane, vegetables, and dairy products are just a few of the several crops that are famed for being produced in this area. Large commercial farms and smaller, family-run agricultural operations impact the need for tractors in this region. The Central region is the leading region with a high penetration of compact tractors. The plateau terrain of the region has driven the adoption of small HP tractors. Following the mechanization trend and the need to close the yield gap, farmers in the Central region are purchasing small chassis tractors with a power capacity of less than 50 HP.

Segmentation by Region

• North
• Central
• Gulf & South

COMPETITIVE LANDSCAPE

John Deere, Pauny, CNH Industrial, AGCO, TAFE, and Kubota dominated the Mexico tractors market with a collective market share of over 96.1% in 2022. These brands have adopted several strategies to gain traction in the market. CNH Industrial, with its tractor brands Case IH, New Holland, and Steyr, has introduced the concept of autonomous technology in agricultural tractors in the Mexico market. These businesses have already implemented technologies like telematics and auto-steering in their agriculture tractors. Further, the competition in the industry is expected to intensify during the forecast period with the increase in product/service extensions, technological innovations, and M&As.

Key Company Profiles

• John Deere
• AGCO
• CNH Industrial
• Kubota

Other Prominent Vendors

• Pauny
• Mahindra & Mahindra
• Deutz-Fahr
• Yanmar
• CLAAS Group
• Foton
• Arbos Group

KEY QUESTIONS ANSWERED:

• What are the expected units sold in the Mexico tractors market by 2028?
• What is the growth rate of the Mexico tractors market?
• Which region holds the largest Mexico tractors market share?
• Who are the key companies in the Mexico tractors market?