Description
Global Agricultural Tractors Market Analysis
Market Overview
The worldwide market for agricultural tractors is likely to grow at a substantial rate during the forecast period. The agricultural tractor is a power-driven that depends on its tractive power for engineering functions. It is tailored for a variety of farm-related tasks such as ploughing, tilling, disking, planting, harrowing, and spraying/pesticide applications.
Therefore, it is often referred to as a farm vehicle as it facilitates mechanizing agricultural processes. The worldwide market is propelled by the need for increased productivity and the rising acceptance of smart farming. Nevertheless, the expansion of the tractor rental market is predicted to impede market growth. Market players are likely to benefit from the increasing demand for precision agricultural equipment.
Factors such as the increasing need for productivity and the rising adoption of smart farming are driving the agricultural tractors market. However, the growth of the tractor rental market is expected to impede market growth. There are opportunities for market players due to the growing demand for precision agricultural equipment.
Segment Overview
The engine power, type, application, driver type, operation and regional segments have been used to divide the market for global agricultural tractors market. The global market has been divided into below 40 HP, 40–120 HP, 121–180 HP, 181–250 HP and more than 250 HP based on the type of agricultural tractors.
The application segment has been divided into harvesting, irrigation, seed sowing, and others. Also, based on operation, the market has been segregated into manual tractor and autonomous tractor vehicle. The segmentation also includes the driver type comprising 2-wheel drive and 4 wheel drive. By type of the tractor, the segmentation covers ICE and electric.
Regional Analysis
The agricultural tractors market is segregated into Americas (North and South), Europe, Asia-Pacific, and the rest of the world. It is anticipated that the demand for agricultural machinery in the agricultural sector will boost the growth of the North American agricultural tractors market. Additionally, the high demand for the modernization of farm implements is likely to create lucrative opportunities for the agricultural tractors industry during the study period.
Asia-Pacific countries are particularly attractive markets for agricultural tractors due to the abundance of agricultural land, particularly in India, China, Vietnam, and Indonesia. The agricultural sector is a major source of livelihood for many in India, with nearly 58% of the population relying on it. This is expected to generate increased demand for agricultural tractors in the area over the forecast period. China and India lead the way in terms of the production of agricultural produce such as crops and vegetables.
Major Players
Deere & Company, Mahindra & Mahindra Limited, CNH Industrial, SDF, and Massey Ferguson are some of the affluent contenders holding sizeable agricultural tractor market share.
COVID 19 Impacts
The impact of COVID on the global tractor market has been significant. Tractor sales have decreased significantly since the start of the pandemic, as farmers have been unable to access credit, and farmers in the north have been put in a difficult financial situation due to the disruption of agricultural supply chains. Low commodity prices, labour shortages, and restrictions on movement have also had a negative impact on tractor sales. The situation has been further exacerbated by the disruption of the supply chain for parts and components for tractors, which has resulted in a drop in production.
TABLE OF CONTENT
1 EXECUTIVE SUMMARY
1.1 MARKET ATTRACTIVENESS ANALYSIS 22
1.1.1 GLOBAL AGRICULTURAL TRACTORS MARKET, BY ENGINE POWER 23
1.1.2 GLOBAL AGRICULTURAL TRACTORS MARKET, BY APPLICATION 24
1.1.3 GLOBAL AGRICULTURAL TRACTORS MARKET, BY TYPE 25
1.1.4 GLOBAL AGRICULTURAL TRACTORS MARKET, BY OPERATION 26
1.1.5 GLOBAL AGRICULTURAL TRACTORS MARKET, BY DRIVER TYPE 27
1.1.6 GLOBAL AGRICULTURAL TRACTORS MARKET, BY REGION 28
2 MARKET INTRODUCTION
2.1 DEFINITION 29
2.2 SCOPE OF THE STUDY 29
2.3 RESEARCH OBJECTIVE 29
2.4 MARKET STRUCTURE 30
2.5 KEY BUYING CRITERIA 31
3 RESEARCH METHODOLOGY
3.1 RESEARCH PROCESS 32
3.2 PRIMARY RESEARCH 33
3.3 SECONDARY RESEARCH 34
3.4 MARKET SIZE ESTIMATION 35
3.5 FORECAST MODEL 36
3.6 LIST OF ASSUMPTIONS 37
4 MARKET INSIGHTS
5 MARKET DYNAMICS
5.1 INTRODUCTION 41
5.2 DRIVERS 42
5.2.1 INCREASING NEED FOR PRODUCTIVITY 42
5.2.2 ADOPTION OF SMART FARMING 42
5.3 RESTRAINT 43
5.3.1 GROWTH OF THE TRACTOR RENTAL MARKET 43
5.4 OPPORTUNITY 43
5.4.1 DEMAND FOR PRECISION AGRICULTURAL EQUIPMENT 43
5.5 IMPACT ANALYSIS OF COVID-19 44
5.5.1 IMPACT ON OVERALL AGRICULTURAL EQUIPMENT INDUSTRY 44
5.5.1.1 ECONOMIC IMPACT 44
5.5.2 IMPACT ON THE AGRICULTURAL TRACTORS MARKET 44
5.5.3 IMPACT ON SUPPLY CHAIN OF AGRICULTURAL TRACTORS MARKET 44
5.5.3.1 PRICE VARIATION OF KEY RAW MATERIALS 44
5.5.3.2 PRODUCTION SHUTDOWN 45
5.5.3.3 CASH FLOW CONSTRAINTS 45
5.5.3.4 IMPACT ON IMPORT/EXPORT 45
5.5.3.5 CONSUMER SENTIMENTS 45
5.5.4 IMPACT ON THE PRICING OF AGRICULTURAL TRACTORS 45
6 MARKET FACTOR ANALYSIS
6.1 SUPPLY CHAIN ANALYSIS 46
6.1.1 TYPE & DEVELOPMENT 47
6.1.2 RAW MATERIAL & COMPONENT SUPPLY 47
6.1.3 MANUFACTURE & ASSEMBLY 47
6.1.4 SALES & DISTRIBUTION 47
6.1.5 OPERATION 47
6.2 PORTER’S FIVE FORCES MODEL 48
6.2.1 THREAT OF NEW ENTRANTS 49
6.2.2 BARGAINING POWER OF SUPPLIERS 49
6.2.3 THREAT OF SUBSTITUTES 49
6.2.4 BARGAINING POWER OF BUYERS 49
6.2.5 INTENSITY OF RIVALRY 49
7 GLOBAL AGRICULTURAL TRACTORS MARKET, BY ENGINE POWER
7.1 OVERVIEW 50
7.2 BELOW 40 HP 51
7.3 40 HP–120 HP 51
7.4 121 HP–180 HP 52
7.5 181 HP–250 HP 53
7.6 MORE THAN 250 HP 53
8 GLOBAL AGRICULTURAL TRACTORS MARKET, BY APPLICATION
8.1 OVERVIEW 54
8.2 HARVESTING 56
8.3 SEED SOWING 56
8.4 IRRIGATION 56
8.5 OTHERS 57
9 GLOBAL AGRICULTURAL TRACTORS MARKET, BY TYPE
9.1 OVERVIEW 58
9.2 ICE 59
9.3 ELECTRIC 59
10 GLOBAL AGRICULTURAL TRACTORS MARKET, BY OPERATION
10.1 OVERVIEW 60
10.2 MANUAL TRACTOR VEHICLE 61
10.3 AUTONOMOUS TRACTOR VEHICLE 61
11 GLOBAL AGRICULTURAL TRACTORS MARKET, BY DRIVER TYPE
11.1 OVERVIEW 62
11.2 2-WHEEL DRIVE (2-WD) 63
11.3 4-WHEEL DRIVE (4-WD) 63
12 GLOBAL AGRICULTURAL TRACTORS MARKET, BY REGION
12.1 OVERVIEW 64
12.2 NORTH AMERICA 65
12.2.1 US 69
12.2.2 CANADA 71
12.2.3 MEXICO 73
12.3 EUROPE 76
12.3.1 GERMANY 79
12.3.2 UK 81
12.3.3 FRANCE 83
12.3.4 ITALY 85
12.3.5 REST OF EUROPE 87
12.4 ASIA-PACIFIC 89
12.4.1 CHINA 94
12.4.2 INDIA 96
12.4.3 JAPAN 99
12.4.4 REST OF ASIA-PACIFIC 101
12.5 REST OF THE WORLD 103
12.5.1 MIDDLE EAST & AFRICA 106
12.5.2 SOUTH AMERICA 108
13 COMPETITIVE LANDSCAPE
13.1 COMPETITIVE OVERVIEW 111
13.2 COMPETITIVE BENCHMARKING 112
13.3 MARKET SHARE ANALYSIS 113
14 COMPANY PROFILES
14.1 DEERE & COMPANY 114
14.1.1 COMPANY OVERVIEW 114
14.1.2 FINANCIAL OVERVIEW 115
14.1.3 PRODUCTS OFFERED 115
14.1.4 KEY DEVELOPMENTS 116
14.1.5 SWOT ANALYSIS 117
14.1.6 KEY STRATEGIES 117
14.2 CNH INDUSTRIAL 118
14.2.1 COMPANY OVERVIEW 118
14.2.2 FINANCIAL OVERVIEW 119
14.2.3 PRODUCTS OFFERED 120
14.2.4 KEY DEVELOPMENTS 121
14.2.5 SWOT ANALYSIS 122
14.2.6 KEY STRATEGIES 122
14.3 SDF 123
14.3.1 COMPANY OVERVIEW 123
14.3.2 FINANCIAL OVERVIEW 124
14.3.3 PRODUCTS OFFERED 125
14.3.4 KEY DEVELOPMENTS 126
14.3.5 SWOT ANALYSIS 127
14.3.6 KEY STRATEGIES 127
14.4 MAHINDRA & MAHINDRA LIMITED 128
14.4.1 COMPANY OVERVIEW 128
14.4.2 FINANCIAL OVERVIEW 129
14.4.3 PRODUCTS OFFERED 130
14.4.4 KEY DEVELOPMENTS 130
14.4.5 SWOT ANALYSIS 131
14.4.6 KEY STRATEGIES 131
14.5 MASSEY FERGUSON 132
14.5.1 COMPANY OVERVIEW 132
14.5.2 FINANCIAL OVERVIEW 132
14.5.3 PRODUCTS OFFERED 132
14.5.4 KEY DEVELOPMENTS 133
14.6 CHANGZHOU DONGFENG AGRICULTURAL MACHINERY GROUP CO., LTD 134
14.6.1 COMPANY OVERVIEW 134
14.6.2 FINANCIAL OVERVIEW 134
14.6.3 PRODUCTS OFFERED 134
14.6.4 KEY DEVELOPMENTS 135
14.7 CLAAS KGAA MBH 136
14.7.1 COMPANY OVERVIEW 136
14.7.2 FINANCIAL OVERVIEW 137
14.7.3 PRODUCTS/SERVICES OFFERED 138
14.7.4 KEY DEVELOPMENTS 138
14.8 KUBOTA CORPORATION 139
14.8.1 COMPANY OVERVIEW 139
14.8.2 FINANCIAL OVERVIEW 140
14.8.3 PRODUCTS OFFERED 140
14.8.4 KEY DEVELOPMENTS 141
14.8.5 SWOT ANALYSIS 141
14.8.6 KEY STRATEGIES 141
14.9 ESCORTS LIMITED 143
14.9.1 COMPANY OVERVIEW 143
14.9.2 FINANCIAL OVERVIEW 144
14.9.3 PRODUCTS/SERVICES OFFERED 145
14.9.4 KEY DEVELOPMENTS 146
14.10 HATTAT TRAKTÖR 147
14.10.1 COMPANY OVERVIEW 147
14.10.2 FINANCIAL OVERVIEW 147
14.10.3 PRODUCTS OFFERED 147
14.10.4 KEY DEVELOPMENTS 147
14.11 JIANGSU YUEDA INTELLIGENT AGRICULTURAL EQUIPMENT CO, LTD 148
14.11.1 COMPANY OVERVIEW 148
14.11.2 FINANCIAL OVERVIEW 148
14.11.3 PRODUCTS OFFERED 148
14.11.4 KEY DEVELOPMENTS 149
14.12 HUBEI FOTMA MACHINERY CO., LTD. 150
14.12.1 COMPANY OVERVIEW 150
14.12.2 FINANCIAL OVERVIEW 150
14.12.3 PRODUCTS/SERVICES OFFERED 150
14.12.4 KEY DEVELOPMENTS 151
