Dublin, Oct. 13, 2023 (GLOBE NEWSWIRE) -- The "Growth Opportunities in Agricultural Tractors" report has been added to ResearchAndMarkets.com's offering.
The global agricultural tractor industry is a critical component of the systems that make feeding a global population possible.
Agricultural tractors are used to perform a variety of tasks on farms, including plowing, tilling, planting, and harvesting crops. This industry has grown significantly in recent years, with a global market size of $54.96 billion in 2022 that will reach approximately $81.42 billion in 2030, increasing at a compound annual growth rate (CAGR) of 5% during that period.
Several factors are driving this growth, including an expanding global population, rising demand for food, and increasing mechanization of farming practices. During this same period, the developed markets of the United States and Europe will experience CAGRs of 4.8% and 6.4%, respectively, whereas the developing nations of India and China will show resilient growth rates of 7.1% and 2.6%.
This is due to the large agricultural sector in India and China that see high demand for tractors. In North America and Europe, large-scale agriculture practices drive growth in the tractor market.
Overall, the agricultural tractor industry is highly competitive, with many manufacturers operating and competing for market share. The industry is dominated by a few major players, including John Deere, AGCO Corporation, CNH Industrial, and Kubota Corporation. These companies have a strong presence in many markets and offer a range of products, from small utility tractors to large industrial tractors.
The industry is also characterized by a trend toward more sustainable and efficient tractors, with an increasing focus on reducing emissions and improving fuel efficiency. This trend is driving innovation, with manufacturers developing new technologies such as electric and autonomous tractors.
The analyst expects major innovations in the agricultural tractor market to happen in the fields of precision agriculture, electrification, automation/robotics, new business model transformation, and autonomous tractors. The adoption of precision agriculture tools is already picking up pace in developed markets, yet the trend has yet to catch up in developing markets.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 136 |
| Forecast Period | 2022 - 2030 |
| Estimated Market Value (USD) in 2022 | $54.96 Billion |
| Forecasted Market Value (USD) by 2030 | $81.42 Billion |
| Compound Annual Growth Rate | 5.0% |
| Regions Covered | Global |
Research Highlights
- Analyze market growth trends globally
- Evaluate technology trends and market dynamics
- Examine market status and understand expectations by 2030
Key Issues Addressed
- What are the main areas of demand and growth?
- Who are the top industry participants, and what are their anticipated development and launch activities for 2023-2030?
- What are some of the notable industry partnerships and highlights?
- What are the main factors and trends shaping industry growth?
- What is the expected demand for tractor unit sales globally?
Key Topics Covered:
1. Strategic Imperatives
- Why Is It Increasingly Difficult to Grow?
- The Strategic Imperative
- The Impact of the Top 3 Strategic Imperatives on the Agricultural Tractor Industry
- Growth Opportunities Fuel the Growth Pipeline Engine
2. Global Agricultural Outlook
- Economic Environment: Gross Domestic Product (GDP) Growth
- Agricultural Outlook, 2021-2030
- Global Use of Major Commodities
- Regional Contributions to Food Demand Growth
- Sources of Growth in Crop Production
- GHG Impact
- Commodity Returns
- Commodity Price Forecast
3. Growth Opportunity Analysis
- Key Findings
- Scope of Analysis
- Market Segmentation
- Value Chain Analysis
- Agricultural Tractors: Key Competitors
- Growth Metrics
- Growth Drivers
- Growth Restraints
- Forecast Assumptions
- Equipment in Operation (EIO) Forecast
- Revenue Forecast
- Revenue Forecast by Region
- Unit Sales Forecast
- Unit Sales Forecast by Region
- Pricing Range for Different Power Segments: US and India
- Competitive Environment
- Market Share
4. Growth Opportunity Analysis: United States
- Economic Environment
- Trade and Land Usage
- Economic Environment: Agricultural Acreage
- Regional Indicators: North America
- Growth Metrics
- Equipment in Operation
- Revenue Forecast
- Unit Sales Forecast
5. Growth Opportunity Analysis: Europe
- Economic Environment
- Russo-Ukrainian War: Agricultural Machinery Flow
- Trade and Land Use
- Regional Indicators
- Growth Metrics
- Equipment in Operation
- Revenue Forecast
- Unit Sales Forecast
- Unit Sales Forecast by Country
6. Growth Opportunity Analysis: India
- Economic Environment
- Area Harvested and Land Usage: Asia-Pacific
- Regional Indicators: Asia-Pacific
- Growth Metrics
- Equipment in Operation
- Revenue Forecast
- Unit Sales Forecast
7. Growth Opportunity Analysis: China
- Economic Environment
- Growth Metrics
- Equipment in Operation
- Revenue Forecast
- Unit Sales Forecast
8. TechVision
- The Future of Tractors
- Trend 1: Precision Agriculture
- Precision Agriculture: OEM Product Mapping
- Precision Agriculture: Third-party Solution Providers
- Trend 2: Autonomous Tractors
- Brief History of Tractors
- Autonomous Tractor Tech
- Connected Tractors
- Autonomous Tractors: Key Product Launches
- Autonomous Third-party Solution Providers
- Trend 3: New Business Models
- Custom Options for Using Tractors
- Summary of Alternative Methods of Tractor Procurement
- Disruptive Business Models in Agriculture
- Trend 4: Decarbonization and Innovation
- Major Levers of Carbon Emission Reduction
- Considerations from Market Players on Emissions Regulations
- Market Requirements for Energy Demand
- Future Powertrain and Energy Storage Technologies
- Emission Regulations for Nonroad Equipment in US (EPA) and Europe
- Government Initiatives for Financing: United States
- Government Initiatives for Emissions Control: United States
- Carbon Market and Agriculture: United States
- Government Initiatives: Europe
- Emission Norms: India
- Government Initiatives: India
- Emission Norms: China
- Targeted Tech in Tractors
- Major Players' Product Launches
- TCO Case Study by ICCT: India
- Trend 5: Robotics
9. Major Mergers and Acquisitions
- Key Mergers and Acquisitions
- Investments in Tractor Tech
10. Growth Opportunity Universe
- Growth Opportunity 1: Right Partners for Technological Development
- Growth Opportunity 2: New Business Model Revolution
- Growth Opportunity 3: Emission Targets and Electrification
11. Next Steps
A selection of companies mentioned in this report includes
- AGCO Corporation
- CNH Industrial
- John Deere
- Kubota Corporation
For more information about this report visit https://www.researchandmarkets.com/r/wxxcmb
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