
Belgium Tractor Market - Industry Outlook & Forecast 2023-2028
Description
Belgium Tractor Market - Industry Outlook & Forecast 2023-2028
The Belgium tractor market is expected to grow at a CAGR of 2.83% from 2022-2028.
KEY HIGHLIGHTS
- Belgium has over 11.6 million food consumers. The country witnessed a massive increase in farm mechanization in terms of agricultural and industrial productivity.
- The Belgium tractor industry 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.
- The Belgian 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 Belgium tractor market decreased by 11.2% in 2022 from 2021. The decrease in crop production and tractor sales was due to price and supply chain challenges and unfavorable climate conditions.
Increasing Use of Bioenergy in Agricultural Tractors
Conventionally, farmers used diesel engine tractors known for their high power. Tractors are now more efficient and can complete tasks with less power requirements due to advances in machine technologies and engines. The volatility in diesel prices hampers the budget management of farmers. Thus, the Belgium tractor industry witnesses a considerable demand for tractors that run on different fuels, such as plant-oil and biogas-powered tractors.
Technological Advances in Tractor Technology
A new frontier of innovation emerged as agriculture met digital technology, opening various paths ta smart agricultural future. 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 industry. GPS and remote sensing make farming more accurate and productive.
SEGMENTATION INSIGHTS
INSIGHTS BY HORSEPOWER
The less than 50 HP horsepower segment generated the highest sales in almost all the regions in the Belgium tractor market in 2022. This segment mainly includes semi-professional tractors with a customer base in small-scale agriculture farms and hobby farmers. Tractors with low engine power take up less space and are more versatile because their engines have a capacity of less than 1,500 cc. Manufacturers are more likely texperiment with or modify such tractors before moving on to higher-powered ones due to the ease of customization. Further, the demand for tractors in the 251-300 HP power range will remain steady during the forecast period.
Segmentation by Horsepower
- Less than 50 HP
- 50-100 HP
- 101-140 HP
- 141-180 HP
- 181-250 HP
- 251-300 HP
- Above 300 HP
Ease of driving and flexibility with light loads and in plain fields are significant factors that boost the demand for two-wheel-drive tractors. In 2022, the 2WD drive type segment dominated the Belgium tractor market. The region has many small-scale farmers, with an average farm size of ten hectares. Therefore, farmers prefer town compact-size machines or equipment. Moreover, power paddles are attached t2WD for use in wheat plantations in the region. John Deere, New Holland, and Fendt hold most of the 2-wheel drive tractors segment shares.
Segmentation by Wheel Drive
- 2-Wheel-Drive
- 4-Wheel-Drive
In terms of region, the Flanders and the Wallonia have reportedly shown a higher demand for agriculture tractors than the Brussels region of the country. In 2022, the Flanders region held the share of the Belgium tractor market, accounting for over 50%. Flanders has a demand for various types and sizes of tractors, ranging from small utility tractors for specialized farming tasks to larger models for more extensive agricultural operations. The choice of a tractor depends on the specific needs of individual farmers. The Belgian government, including the regional government of Flanders, offers subsidies and incentives to promote sustainable agriculture, rural development, and innovation in farming practices.
Segmentation by Region
- Flanders
- Wallonia
- Brussels
John Deere, New Holland, and Fendt dominated the Belgium tractor market with a collective market share of over 50% in 2022. These brands have adopted several strategies to gain traction in the market. The industry has highly established players in various segments, including open fields and horticulture. Further, the threat to existing vendors in the region from new vendors is quite low.
Recent Developments in the Belgium Tractor Industry
- In March 2023, John Deere announced MY24 updates for its 7, 8, and 9 Series Tractors lineup that will help prepare them for the future of precision agriculture.
- John Deere launched the new electric variable transmission (EVT) for select 8 Series Tractors and a new JD14X engine for 9 Series in March 2022.
- Massey Ferguson launched the MF 6S series tractors in February 2022; the machine provides up t180 HP with advanced technology.
- John Deere
- CNH Industrial
- AGCO
- Deutz-Fahr
- CLAAS
- ISEKI
- BRANSON
- Escorts
- Kubota
- Lovol
- Solis
- TYM Corporation
- LS Tractor
- KIOTI
- YANMAR
This 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
II. Segmentation by Drive Type
III. Segmentation by Region
- Production and trade values
- Major current and upcoming projects and investments
- Competitive intelligence about the economic scenario, advantages in Belgium, market dynamics, and market shares
- Innovative technologies
- Company profiles of major and other prominent vendors
1. What are the expected units sold in the Belgium tractor market by 2028?
2. What is the growth rate of the Belgium tractor market?
3. How big is the Belgium tractor market?
4. Where are the key companies in the Belgium tractor industry?
5. Which region holds the largest Belgium tractor market share?
Table of Contents
166 Pages
- 1 RESEARCH METHODOLOGY
- 2 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 PREMIUM INSIGHTS
- 6.1 MARKET OVERVIEW
- 6.2 REPORT OVERVIEW
- 6.3 SEGMENTAL ANALYSIS
- 7 MARKET AT A GLANCE
- 8 INTRODUCTION
- 8.1 OVERVIEW
- 8.1.1 GOVERNMENT REGULATIONS AND POLICIES
- 8.1.2 TECHNOLOGICAL ADVANCES
- 9 MARKET OPPORTUNITIES & TRENDS
- 9.1 INCREASED FOCUS ON SMART & AUTONOMOUS TRACTORS
- 9.1.1 SWATH CONTROL AND VARIABLE RATE TECHNOLOGY (VRT)
- 9.1.2 HIGH DEMAND FOR AUTONOMOUS EQUIPMENT
- 9.2 SHORTAGE OF AGRICULTURAL LABORERS
- 9.3 INCREASING USE OF BIOENERGY IN AGRICULTURAL MACHINERY
- 10 MARKET GROWTH ENABLERS
- 10.1 GOVERNMENT SUBSIDIES & CREDIT-SUPPORT SYSTEMS
- 10.2 GROWTH IN AGRICULTURAL PRODUCTIVITY AND EXPORTS
- 10.3 GROWING FARM MECHANIZATION
- 11 MARKET RESTRAINTS
- 11.1 HIGH DEMAND FOR USED & RENTAL TRACTORS
- 11.2 UNFAVORABLE WEATHER CONDITIONS
- 11.3 LACK OF AWARENESS OF LATEST INNOVATIONS IN AGRICULTURAL TRACTORS
- 11.3.1 LACK OF EDUCATION AMONG FARMERS
- 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 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 REGION
- 13.4 50–100 HP
- 13.4.1 MARKET OVERVIEW
- 13.4.2 MARKET SIZE & FORECAST
- 13.4.3 MARKET BY REGION
- 13.5 101–140 HP
- 13.5.1 MARKET OVERVIEW
- 13.5.2 MARKET SIZE & FORECAST
- 13.5.3 MARKET BY REGION
- 13.6 141–180 HP
- 13.6.1 MARKET OVERVIEW
- 13.6.2 MARKET SIZE & FORECAST
- 13.6.3 MARKET BY REGION
- 13.7 181–250 HP
- 13.7.1 MARKET OVERVIEW
- 13.7.2 MARKET SIZE & FORECAST
- 13.7.3 MARKET BY REGION
- 13.8 251–300 HP
- 13.8.1 MARKET OVERVIEW
- 13.8.2 MARKET SIZE & FORECAST
- 13.8.3 MARKET BY REGION
- 13.9 ABOVE 300 HP
- 13.9.1 MARKET OVERVIEW
- 13.9.2 MARKET SIZE & FORECAST
- 13.9.3 MARKET BY REGION
- 14 DRIVE TYPE
- 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 REGION
- 14.4 4-WHEEL DRIVE
- 14.4.1 MARKET OVERVIEW
- 14.4.2 MARKET SIZE & FORECAST
- 14.4.3 MARKET BY REGION
- 15 REGION
- 15.1 MARKET SNAPSHOT & GROWTH ENGINE
- 15.2 MARKET OVERVIEW
- 15.3 FLANDERS
- 15.3.1 MARKET OVERVIEW
- 15.3.2 MARKET SIZE & FORECAST
- 15.3.3 MARKET BY HORSEPOWER
- 15.3.4 MARKET BY DRIVE TYPE
- 15.4 WALLONIA
- 15.4.1 MARKET OVERVIEW
- 15.4.2 MARKET SIZE & FORECAST
- 15.4.3 MARKET BY HORSEPOWER
- 15.4.4 MARKET BY DRIVE TYPE
- 15.5 BRUSSELS
- 15.5.1 MARKET OVERVIEW
- 15.5.2 MARKET SIZE & FORECAST
- 15.5.3 MARKET BY HORSEPOWER
- 15.5.4 MARKET BY DRIVE TYPE
- 16 COMPETITIVE LANDSCAPE
- 16.1 COMPETITION OVERVIEW
- 16.1.1 OVER 50 HP TRACTOR SALES ANALYSIS
- 16.1.2 UNDER 50 HP TRACTOR SALES ANALYSIS
- 16.1.3 RECENT DEVELOPMENTS BY TOP BRANDS
- 16.1.4 BRAND LOYALTY
- 17 KEY COMPANY PROFILES
- 17.1 JOHN DEERE
- 17.1.1 BUSINESS OVERVIEW
- 17.1.2 PRODUCT OFFERINGS
- 17.1.3 KEY STRATEGIES
- 17.1.4 KEY STRENGTHS
- 17.1.5 KEY OPPORTUNITIES
- 17.2 CNH INDUSTRIAL
- 17.2.1 BUSINESS OVERVIEW
- 17.2.2 PRODUCT OFFERINGS
- 17.2.3 KEY STRATEGIES
- 17.2.4 KEY STRENGTHS
- 17.2.5 KEY OPPORTUNITIES
- 17.3 AGCO
- 17.3.1 BUSINESS OVERVIEW
- 17.3.2 PRODUCT OFFERINGS
- 17.3.3 KEY STRATEGIES
- 17.3.4 KEY STRENGTHS
- 17.3.5 KEY OPPORTUNITIES
- 17.4 DEUTZ-FAHR
- 17.4.1 BUSINESS OVERVIEW
- 17.4.2 PRODUCT OFFERINGS
- 17.4.3 KEY STRATEGIES
- 17.4.4 KEY STRENGTHS
- 17.4.5 KEY OPPORTUNITIES
- 18 OTHER PROMINENT VENDORS
- 18.1 CLAAS
- 18.1.1 BUSINESS OVERVIEW
- 18.1.2 PRODUCT OFFERINGS
- 18.2 ISEKI
- 18.2.1 BUSINESS OVERVIEW
- 18.2.2 PRODUCT OFFERINGS
- 18.3 BRANSON
- 18.3.1 BUSINESS OVERVIEW
- 18.3.2 PRODUCT OFFERINGS
- 18.4 ESCORTS
- 18.4.1 BUSINESS OVERVIEW
- 18.4.2 PRODUCT OFFERINGS
- 18.5 KUBOTA
- 18.5.1 BUSINESS OVERVIEW
- 18.5.2 PRODUCT OFFERINGS
- 18.6 LOVOL
- 18.6.1 BUSINESS OVERVIEW
- 18.6.2 PRODUCT OFFERINGS
- 18.7 SOLIS
- 18.7.1 BUSINESS OVERVIEW
- 18.7.2 PRODUCT OFFERINGS
- 18.8 TYM CORP.
- 18.8.1 BUSINESS OVERVIEW
- 18.8.2 PRODUCT OFFERINGS
- 18.9 LS TRACTOR
- 18.9.1 BUSINESS OVERVIEW
- 18.9.2 PRODUCT OFFERINGS
- 18.10 KIOTI
- 18.10.1 BUSINESS OVERVIEW
- 18.10.2 PRODUCT OFFERINGS
- 18.11 YANMAR
- 18.11.1 BUSINESS OVERVIEW
- 18.11.2 PRODUCT OFFERINGS
- 19 REPORT SUMMARY
- 19.1 KEY TAKEAWAYS
- 19.2 STRATEGIC RECOMMENDATIONS
- 20 QUANTITATIVE SUMMARY
- 20.1 REGION
- 20.2 HORSEPOWER
- 20.3 DRIVE TYPE
- 21 APPENDIX
- 21.1 ABBREVIATIONS
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