Dublin, Nov. 10, 2023 (GLOBE NEWSWIRE) -- The "Argentina Tractors Market - Industry Analysis & Forecast 2023-2028" report has been added to ResearchAndMarkets.com's offering.
The Argentina tractor market is expected to grow at a CAGR of 3.42% from 2022-2028.
Manufacturers of agricultural equipment and machinery are increasingly venturing into the precision agriculture sector, which involves using advanced technologies to optimize farming practices.
In Argentina, the demand for precision agriculture equipment is driven by factors such as inconsistent rainfall patterns. Precision agriculture tools and equipment can help farmers make data-driven decisions, calculate optimal crop planting densities, and efficiently manage irrigation, leading to improved agricultural productivity.
The Pampas region in Argentina stands out as a major hub for agricultural activities and has a high demand for agricultural tractors. The adoption of modern farming techniques and mechanization has significantly increased the demand for tractors in this region. Tractor manufacturers are continually innovating to offer state-of-the-art, technology-based tractors that incorporate features like GPS and remote sensing to enhance accuracy and productivity in farming operations.
In the Argentina tractor market, key players like John Deere, CNH Industrial, and AGCO hold a dominant position, collectively accounting for over 40% of the market share in 2022. These manufacturers employ various strategies to maintain their competitive edge.
Argentina's favorable trade policies, particularly with neighboring countries, make it an attractive location for setting up manufacturing or assembly facilities. This strategic positioning allows them to access major Latin American markets like Brazil and Mexico, further contributing to their market presence and growth.
KEY HIGHLIGHTS
Argentina has over 46.2 million food consumers. The country witnessed a massive increase in farm mechanization in terms of agricultural and industrial productivity.
The Argentina tractor market is highly concentrated, with the top players controlling most of the market. Domestic and global brands, on the other hand, are equally represented in the industry.
Argentina's 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 Argentina tractor market increased by 3.2% in 2022 from 2021. The increase in crop production and tractor sales was due to favorable climate conditions and government support to farmers.
INSIGHTS BY HORSEPOWER
50 HP-100 HP horsepower segment recorded a high Argentina tractor market share 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 versatility of 50-100 HP tractors is the major factor that drives their adoption. These tractors have the power to operate generators for irrigation and both company- and domestic-made harvesters and threshers. The use of these tractors helps to reduce labor costs and labor dependency. The high prevalence of small and medium farmlands in Argentina, coupled with country-wide government schemes to enhance farming capabilities, boosts the sales of 50-100 HP tractors.
INSIGHTS BY DRIVE TYPE
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 Argentina tractor market.
These are typically used on farms where a tractor's pulling strength is irrelevant and operational ability is the priority. 2WD tractors are a conventional choice for farmers in Argentina. Older farmers use 2WD tractors as they are more comfortable with traditional 2WD tractors than with 4WD tractors. John Deere, CNH Industrial, and AGCO share most of the 2-wheel drive tractors segment.
KEY QUESTIONS ANSWERED:
- What are the expected units sold in the Argentina tractor market by 2028?
- What is the growth rate of the Argentina tractor market?
- How big is the Argentina tractor market?
- Which region holds the largest Argentina tractor market share?
- Who are the key companies in the Argentina tractor market?
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 150 |
| Forecast Period | 2022 - 2028 |
| Estimated Market Value in 2022 | 6168 Units |
| Forecasted Market Value by 2028 | 7545 Units |
| Compound Annual Growth Rate | 3.4% |
| Regions Covered | Argentina |
Market At A Glance
- Value Chain Analysis
- Overview
- Raw Material & Component Suppliers
- Manufacturers
- Dealers/Distributors
- Retailers
- End-Users
- Technological Advances
Market Opportunities & Trends
- Increased Focus On Smart & Autonomous Tractors
- Swath Control And Variable Rate Technology (Vrt)
- High Demand For Autonomous Equipment
- Prospects Of Precision Farming
Market Growth Enablers
- Government Subsidies & Credit Support Systems
- Investments By International Manufacturers
- Gdp Contribution Of Agricultural Sector
- Increased Farm Mechanization
Market Restraints
- High Demand For Used & Rental Tractors
- Unfavorable Weather Conditions
- Lack Of Awareness Of Latest Innovations In Agriculture Tractors
Key Company Profiles
- John Deere
- CNH Industrial
- AGCO
- Kubota
Other Prominent Vendors
- CLAAS
- Deutz-Fahr
- Mahindra
- KIOTI
- Hanomag
- RolandH
- Agrale
- Zetor
- LS Tractor
- TYM Corporation
For more information about this report visit https://www.researchandmarkets.com/r/n6ukqs
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