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The Europe tractor market size witnessed shipments of 158,231 units in 2022, which is expected to reach 200,449 units by 2028 growing at a CAGR of 4.02% during the forecast period. Speak directly to the analyst to clarify any post sales queries you may have.
MARKET TRENDS & OPPORTUNITIES
Increasing Use of Bioenergy in Tractors
Conventionally, farmers used diesel engine tractors known for their high power. Tractors are now more efficient and can complete tasks with fewer power requirements due to advances in machine technologies, fuel, and engines. The volatility in diesel prices hampers the budget management of farmers. Farm-produced bio-based energy can already be used to power several new, cutting-edge models of agricultural machinery.Technological Advance in Tractor Technology
A new frontier of innovation emerged as agriculture met digital technology, opening various paths to a smart agricultural future in the Europe tractor market. Tractor manufacturers are competitive, and companies constantly strive to innovate and ensure product differentiation at affordable prices. State-of-the-art technology-based tractors are currently available in the market. GPS and remote sensing make farming more accurate and productive.INDUSTRY RESTRAINTS
Lack of Awareness of the Latest Agricultural Equipment Innovations
There are many innovations and advances in the agricultural sector and agriculture tractors and machinery. Agriculture scientists develop ways to increase yield using innovative and efficient machinery. Implementing modern equipment and systems and adopting advanced scientific methods such as artificial intelligence help farmers make better decisions. The number of farmers unaware of the latest innovations in agriculture technologies and equipment is very high in Europe. This is mainly due to limited awareness and information among the farming community. The resistance from farmers to change and update their farming practices is another reason for the low adoption of the latest agricultural machinery. Such factors are expected to hamper the growth of the Europe tractor market during the forecast period.SEGMENTATION INSIGHTS
- The Europe tractor market is categorized into segments based on the engine power output of tractors: less than 50 HP, 50-100 HP, and above 100 HP. In 2022, Europe's 50-100 HP segment recorded the highest growth, with a share of 40.9% in the market in 2022. The major factor for the steady growth of the medium-power range of tractors is the increased business turnover among hobby and livestock farmers. The sales of Above 100 HP tractors in the country are expected to remain steady during the forecast period as farm sales are likely to remain the same in the coming years.
- The Europe tractor market is dominated by mid-range HP 2WD tractors. Among the several tractor models available in the region, 2WD tractors are the most favored by farmers. The low relative cost of ownership, the sufficiency of features and haulage power, and convention make 2WD tractors more popular among farmers. Europe tractor market players are trying to redesign their 2WD tractors with more power and ease of handling features so that farmers can upgrade their tractors and buy new ones per their usage. Features such as fuel efficiency, added comfort for operating in confined spaces, and light loading work is expected to be in demand in several agricultural economies. John Deere, New Holland, and Fendt hold the majority shares of the 2-wheel drive tractors segment.
Segmentation by Horsepower
- Less than 50 HP
- 50-100 HP
- Above 100 HP
Segmentation by Drive Type
- 2-Wheel-Drive
- 4-Wheel-Drive
GEOGRAPHICAL ANALYSIS
France holds the most prominent Europe tractor market share, with an overall unit registration of 36,423 units by November 2022. The increase in crop production and tractor sales resulted from favorable monsoon rains in 2020 and 2021, which helped the country to recover from the drought-induced low in 2017 and the COVID-19 pandemic. Moreover, the country has to increase its production capacity manifolds to feed the ever-growing population, which stood at 67.4 million in 2021. The production of major crops in the country increased from 2020 compared to the last seven years. This increase can be attributed to the fact that French farmers have started to adopt farm mechanization practices and are improving their crop production by reducing the yield gap.Germany held the second-largest Europe tractor market share in 2022, with overall sales of 33,676 units. The significant upcoming trend in the German agriculture scene is the feminization of agriculture due to the migration of men to urban cities, which drives the need to purchase tractors and other agricultural machinery to perform farming activities. Women are emerging in several roles, such as laborers, cultivators, and Agri- entrepreneurs. Tractors in the 50-100 HP power range likely be Germany's largest contributor to the tractor industry.
Segmentation by Geography
- Europe
- France
- Germany
- Italy
- UK
- Poland
- Spain
- Others
- Austria
- Belgium
- Sweden
- Netherlands
- Czech Republic
- Portugal
COMPETITIVE LANDSCAPE
- John Deere and New Holland dominated the Europe agriculture tractor market with a collective industry share of over 25% in 2022. The threat of rivalry is high in the Europe tractor market since more than 40% of the share is held by the top five players.
- In March 2022, John Deere launched the new electric variable transmission (EVT) for select 8 Series Tractors and a new JD14X engine for 9 Series.
- Massey Ferguson launched the MF 6S series tractors in February 2022. This machine provides up to 180 HP with advanced technology.
- Massey Ferguson launched the MF 8S series tractors in July 2020. A guard-u install engine and a neo-retro design distinguish this series of tractors. These tractors are designed to advance smart farming technologies.
- In March 2021, CNH Industrial partnered with Monarch Tractors, a US-based agri-technology company, to improve long-term sustainability and raise awareness of the importance of zero-emission agriculture among farmers.
Key Vendors
- John Deere
- CNH Industrial
- AGCO
- Kubota
Other Prominent Vendors
- Zetor
- Mahindra & Mahindra
- Escorts
- JCB
- Foton Motor
- MTW Holdings
- SDF
- Arbos Group
- Yanmar
This Europe tractor market report is among the few in the market that offer outlook and opportunity analyses forecast in terms of:
- Market Size & Forecast Volume (Units) 2020-2028
b) Segmentation by Wheel Drive
c) Segmentation by Geography
- Production and trade values
- Major current and upcoming projects and investments
- Competitive intelligence about the economic scenario, advantages in Europe, industry dynamics, and market shares
- Latest and innovative technologies
- COVID-19 impact analysis of the industry
- Company profiles of major and other prominent vendors
- Industry shares of major vendors
KEY QUESTIONS ANSWERED:
1. How big is the Europe tractor market?2. What is the growth rate of the Europe Tractor Market?
3. What are the expected units sold in the Europe tractor market by 2028?
4. Who are the key players in the Europe tractor market?
5. Which wheel drive holds the highest Europe tractor market share?
6. Which country dominates the Europe tractor market?
Table of Contents
1 Research Methodology2 Research Objectives
3 Research Process
4 Scope & Coverage
4.1 Market Definition
4.1.1 Inclusions
4.1.2 Exclusions
4.1.3 Market Estimation Caveats
4.2 Base Year
4.3 Scope of the Study
5 Report Assumptions & Caveats
5.1 Key Caveats
5.2 Currency Conversion
5.3 Market Derivation
6 Market at a Glance
7 Premium Insights
8 Introduction
8.1 Overview
8.2 Value Chain Analysis
8.2.1 Overview
8.2.2 Raw Material & Component Suppliers
8.2.3 Manufacturers
8.2.4 Dealers/Distributors
8.2.5 Retailers
8.2.6 End-Users
8.3 Common Agricultural Policy & Eu Agricultural Expenditure
8.4 Increasing Adoption of Precision Farming
8.5 Technological Advances
9 Market Opportunities & Trends
9.1 Technological Advances in Tractor Technology
9.1.1 Gps Technology
9.1.2 High Demand for Autonomous or Self-Driving Tractors
9.2 Shortage of Agricultural Laborers
9.3 Increasing Use of Bioenergy in Agricultural Machinery
10 Market Growth Enablers
10.1 Assistance to Farmers Through Loans & Subsidies
10.2 Strong Agricultural Commodity Prices Support Market
10.3 Growing Food Consumption & Export of Organic Products
11 Market Growth Restraints
11.1 Lack of Awareness of Latest Agricultural Equipment Innovations
11.1.1 Lack of Education Among Farmers
11.2 High Demand for Used & Rental Tractors
11.3 Climate Change Adversely Impacting Agricultural Activities
12 Market Landscape
12.1 Market Overview
12.2 Market Size & Forecast
12.3 Five Forces Analysis
12.3.1 Threat of New Entrants
12.3.2 Bargaining Power of Suppliers
12.3.3 Bargaining Power of Buyers
12.3.4 Threat of Substitutes
12.3.5 Competitive Rivalry
13 by Horsepower
13.1 Market Snapshot & Growth Engine
13.2 Market Overview
13.3 Less Than 50 Hp
13.3.1 Market Overview
13.3.2 Market Size & Forecast
13.3.3 Market by Geography
13.4 50 Hp-100 Hp
13.4.1 Market Overview
13.4.2 Market Size & Forecast
13.4.3 Market by Geography
13.5 Above 100 Hp
13.5.1 Market Overview
13.5.2 Market Size & Forecast
13.5.3 Market by Geography
14 by Wheel-Drive
14.1 Market Snapshot & Growth Engine
14.2 Market Overview
14.3 2-Wheel-Drive
14.3.1 Market Overview
14.3.2 Market Size & Forecast
14.3.3 Market by Geography
14.4 4-Wheel-Drive
14.4.1 Market Overview
14.4.2 Market Size & Forecast
14.4.3 Market by Geography
15 Geography
15.1 Market Snapshot & Growth Engine
15.2 Geographic Overview
15.3 France
15.3.1 Market Overview
15.3.2 Land Holding Structures in France
15.3.3 Market Size & Forecast
15.3.4 by Horsepower
15.3.5 by Wheel-Drive
15.3.6 Market Share Analysis
15.4 Germany
15.4.1 Market Overview
15.4.2 Land Holding Structures in Germany
15.4.3 Market Size & Forecast
15.4.4 by Horsepower
15.4.5 by Wheel-Drive
15.4.6 Market Share Analysis
15.5 Italy
15.5.1 Market Overview
15.5.2 Land Holding Structures in Italy
15.5.3 Market Size & Forecast
15.5.4 by Horsepower
15.5.5 by Wheel-Drive
15.5.6 Market Share Analysis
15.6 UK
15.6.1 Market Overview
15.6.2 Brexit Impact on UK Agricultural Industry
15.6.3 Land Holding Structure in UK
15.6.4 Market Size & Forecast
15.6.5 by Horsepower
15.6.6 by Wheel-Drive
15.6.7 Market Share Analysis
15.7 Poland
15.7.1 Market Overview
15.7.2 Land Holding Structures in Poland
15.7.3 Market Size & Forecast
15.7.4 by Horsepower
15.7.5 by Wheel-Drive
15.7.6 Market Share Analysis
15.8 Spain
15.8.1 Market Overview
15.8.2 Land Holding Structure in Spain
15.8.3 Market Size & Forecast
15.8.4 by Horsepower
15.8.5 by Wheel-Drive
15.8.6 Market Share Analysis
15.9 Others
15.9.1 Market Overview
15.9.2 Market Size & Forecast
15.9.3 by Horsepower
15.9.4 by Wheel-Drive
15.9.5 Market Share Analysis
16 Competitive Landscape
16.1 Competition Overview
17 Key Company Profiles
17.1 John Deere
17.1.1 Business Overview
17.1.2 John Deere in Agriculture Tractor Market
17.1.3 Product Offerings
17.1.4 Key Strategies
17.1.5 Key Strengths
17.1.6 Key Opportunities
17.2 Cnh Industrial
17.2.1 Business Overview
17.2.2 Cnh Industrial in Agriculture Tractor Market
17.2.3 Product Offerings
17.2.4 Key Strategies
17.2.5 Key Strengths
17.2.6 Key Opportunities
17.3 Agco
17.3.1 Business Overview
17.3.2 Agco in Agriculture Tractor Market
17.3.3 Product Offerings
17.3.4 Key Strategies
17.3.5 Key Strengths
17.3.6 Key Opportunities
17.4 Kubota
17.4.1 Business Overview
17.4.2 Kubota in Agriculture Tractor Market
17.4.3 Product Offerings
17.4.4 Key Strategies
17.4.5 Key Strengths
17.4.6 Key Opportunities
18 Other Prominent Vendors
18.1 Zetor Polska Sp. Z.O.O.
18.1.1 Business Overview
18.1.2 Product Offerings
18.2 Mahindra & Mahindra
18.2.1 Business Overview
18.2.2 Product Offerings
18.3 Escorts
18.3.1 Business Overview
18.3.2 Product Offerings
18.4 Jcb
18.4.1 Business Overview
18.4.2 Product Offerings
18.5 Foton
18.5.1 Business Overview
18.5.2 Product Offerings
18.6 Mtw Holdings
18.6.1 Business Overview
18.6.2 Product Offerings
18.7 Sdf
18.7.1 Business Overview
18.7.2 Product Offerings
18.8 Arbos Group
18.8.1 Business Overview
18.8.2 Product Offerings
18.9 Yanmar
18.9.1 Business Overview
18.9.2 Product Offerings
19 Report Summary
19.1 Key Takeaways
19.2 Strategic Recommendations
20 Quantitative Summary
20.1 Market by Geography
20.2 Market by Horsepower Type
20.3 Market by Wheel-Drive Type
21 Appendix
21.1 Abbreviations
Companies Mentioned
- John Deere
- CNH Industrial
- AGCO
- Kubota
- Zetor
- Mahindra & Mahindra
- Escorts
- JCB
- Foton Motor
- MTW Holdings
- SDF
- Arbos Group
- Yanmar
Methodology
Our research comprises a mix of primary and secondary research. The secondary research sources that are typically referred to include, but are not limited to, company websites, annual reports, financial reports, company pipeline charts, broker reports, investor presentations and SEC filings, journals and conferences, internal proprietary databases, news articles, press releases, and webcasts specific to the companies operating in any given market.
Primary research involves email interactions with the industry participants across major geographies. The participants who typically take part in such a process include, but are not limited to, CEOs, VPs, business development managers, market intelligence managers, and national sales managers. We primarily rely on internal research work and internal databases that we have populated over the years. We cross-verify our secondary research findings with the primary respondents participating in the study.
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 179 |
| Published | January 2023 |
| Forecast Period | 2022 - 2028 |
| Estimated Market Value in 2022 | 158231 Units |
| Forecasted Market Value by 2028 | 200449 Units |
| Compound Annual Growth Rate | 4.0% |
| Regions Covered | Europe |
| No. of Companies Mentioned | 13 |
