Dublin, May 24, 2024 (GLOBE NEWSWIRE) -- The "Global Agriculture Tractors Market" report has been added to ResearchAndMarkets.com's offering.
The Global Agriculture Tractors Market is set for significant growth, with its value projected to expand from US$ 66.15 billion in 2023 to US$ 98.79 billion by 2030, at a CAGR of 6%. In terms of volume, the market size was estimated at 1.23 million units in 2023.
The market is primarily driven by the increasing demand for high-performance tractors and government initiatives promoting agricultural mechanization, particularly in developing markets. Challenges include the overall cost of manufacturing and various government regulations impacting the sector.
Major players contributing to approximately 55% of the market share include John Deere, Massey Ferguson, Case IH, Sonalika International, Escorts Group, Kubota, Fendt, Deutz Fahr, Claas, New Holland, Universal (UTB), Big Bud, Ford, Mahindra & Mahindra, and other prominent players.
The report provides a comprehensive forecast of tractor sales in top markets, including volume data from 2021 to 2030. It includes insights into government agriculture schemes, with a focus on major initiatives introduced in countries like India.
Market Segment Highlights
- By tractor type, utility tractors lead the market, holding more than 20% of the share in 2023. Other types include row crop tractors, garden tractors, orchard type tractors, rotary tillers, and implement carrier tractors.
- By product (fuel), the internal combustion engine (IC) segment is anticipated to surpass $60 billion by 2026. Electric motor tractors also form a significant part of the market.
- By wheel type, the 2-wheeler tractor segment presents an opportunity of nearly $30 billion for 2022-2030.
- By engine power, the 36-50 horsepower segment is expected to exhibit the fastest CAGR of over 7%.
- Asia-Pacific dominates the market with a share of over 58% in 2023, amounting to a revenue of $38.64 billion. Other significant regions include North America, Europe, the Middle East & Africa, and South America.
Key Attributes
| Report Attribute | Details |
| No. of Pages | 404 |
| Forecast Period | 2023-2030 |
| Estimated Market Value (USD) in 2023 | $66.15 Billion |
| Forecasted Market Value (USD) by 2030 | $98.79 Billion |
| Compound Annual Growth Rate | 6% |
| Regions Covered | Global |
Key Topics Covered
Chapter 1. Research Framework
Chapter 2. Research Methodology
Chapter 3. Executive Summary: Global Agricultural Tractors Market
Chapter 4. Global Agricultural Tractors Market Overview
4.1. Industry Value Chain Analysis
4.1.1. Raw Material Provider
4.1.2. Manufacturing
4.1.3. Distributer
4.1.4. End User
4.2. Industry Outlook
4.2.1. Tractor Sales Forecast, Top Markets, 2021-2030
4.2.2. Government Agriculture Schemes
4.3. PESTLE Analysis
4.4. Porter's Five Forces Analysis
4.4.1. Bargaining Power of Suppliers
4.4.2. Bargaining Power of Buyers
4.4.3. Threat of Substitutes
4.4.4. Threat of New Entrants
4.4.5. Degree of Competition
4.5. Market Dynamics and Trends
4.5.1. Growth Drivers
4.5.2. Restraints
4.5.3. Challenges
4.5.4. Key Trends
4.6. COVID-19 Impact Assessment on Market Growth Trend
4.7. Market Growth and Outlook
4.7.1. Market Revenue Estimates and Forecast (US$ Mn), 2017-2030
4.7.2. Market Volume Estimates and Forecast ('000 Units), 2017-2030
4.7.3. Price Trend Analysis, By Type
4.8. Competition Dashboard
4.8.1. Market Concentration Rate
4.8.2. Company Market Share Analysis (Value %), 2021
4.8.3. Competitor Mapping
Chapter 5. Global Agricultural Tractors Market Analysis, By Tractor Type
5.1. Key Insights
5.2. Market Type and Forecast, 2017-2030 (US$ Mn & '000 Units)
5.2.1. Utility Tractors
5.2.2. Row Crop Tractors
5.2.3. Garden Tractors
5.2.4. Orchard Type Tractors
5.2.5. Rotary Tillers
5.2.6. Implement Carrier Tractors
Chapter 6. Global Agricultural Tractors Market Analysis, by Product (Fuel)
6.1. Key Insights
6.2. Market Type and Forecast, 2017 - 2030 (US$ Mn & '000 Units)
6.2.1. Internal Combustion Engine (ICE)
6.2.2. Electric Motor
Chapter 7. Global Agricultural Tractors Market Analysis, by Wheel Type
7.1. Key Insights
7.2. Market Type and Forecast, 2017 - 2030 (US$ Mn & '000 Units)
7.2.1. 2-wheeler
7.2.2. 3-wheeler
7.2.3. 4-wheeler
Chapter 8. Global Agricultural Tractors Market Analysis, by Engine Power
8.1. Key Insights
8.2. Market Type and Forecast, 2017 - 2030 (US$ Mn & '000 Units)
8.2.1. < 20 Horsepower
8.2.2. 21-35 Horsepower
8.2.3. 36-50 Horsepower
8.2.4. 51-90 Horsepower
8.2.5. 91-120 Horsepower
8.2.6. 121-150 Horsepower
8.2.7. 151-180 Horsepower
8.2.8. 181 HP-250 Horsepower
8.2.9. >250 Horsepower
Chapter 9. Global Agricultural Tractors Market Analysis, by Region
9.1. Key Insights
9.2. Market Type and Forecast, 2017-2030 (US$ Mn & '000 Units)
9.2.1. North America
9.2.1.1. The U.S.
9.2.1.2. Canada
9.2.1.3. Mexico
9.2.2. Europe
9.2.2.1. Western Europe
9.2.2.1.1. The UK
9.2.2.1.2. Germany
9.2.2.1.3. France
9.2.2.1.4. Italy
9.2.2.1.5. Spain
9.2.2.1.6. Rest of Western Europe
9.2.2.2 Eastern Europe
9.2.2.2.1. Poland
9.2.2.2.2. Russia
9.2.2.2.3. Rest of Eastern Europe
9.2.3. Asia-Pacific
9.2.3.1. China
9.2.3.2. India
9.2.3.3. Japan
9.2.3.4. South Korea
9.2.3.5. Australia & New Zealand
9.2.3.6. ASEAN
9.2.3.7. Myanmar
9.2.3.8. Rest of Asia-Pacific
9.2.4. Middle East & Africa
9.2.4.1. UAE
9.2.4.2. Saudi Arabia
9.2.4.3. South Africa
9.2.4.4. Rest of MEA
9.2.5. South America
9.2.5.1 Argentina
9.2.5.2 Brazil
9.2.5.3. Rest of South America
Chapter 10. North America Agricultural Tractors Market Analysis
Chapter 11. South America Agricultural Tractors Market Analysis
Chapter 12. Europe Agricultural Tractors Market Analysis
Chapter 14. Middle East Agricultural Tractors Market Analysis
Chapter 15. China Agricultural Tractors Market Analysis
Chapter 16. India Agricultural Tractors Market Analysis
Chapter 17. Japan Agricultural Tractors Market Analysis
Chapter 19. South Korea Agricultural Tractors Market Analysis
Chapter 20. Australia & New Zealand Agricultural Tractors Market Analysis
Chapter 21. Myanmar Agricultural Tractors Market Analysis
Chapter 22. Rest of Asia-Pacific Agricultural Tractors Market Analysis
23. Company Profiles
(Company Overview, Financial Matrix, Key Product Landscape, Key Personnel, Key Competitors, Contact Address, Business Strategy Outlook)
23.1. John Deere
23.2. Massey Ferguson
23.3. Case IH
23.4. Sonalika International
23.5. Escorts Group
23.6. Kubota
23.7. Fendt
23.8. Deutz Fahr
23.9. Claas
23.10. New Holland
23.11. Universal(UTB)
23.12. Big Bud
23.13. Ford
23.14. Mahindra & Mahindra
23.15. Other Major Players
For more information about this report visit https://www.researchandmarkets.com/r/7s9nhb
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