Global Tractor Market, Share, Size, Forecast 2022-2027, Industry Trends, Growth, Impact of COVID-19, Opportunity Company Analysis
Description
Global Tractor Market, Share, Size, Forecast 2022-2027, Industry Trends, Growth, Impact of COVID-19, Opportunity Company Analysis
Global Tractor Market will reach US$ 66.1 Billion by 2027. Rising demand for food continues to impose heavy burdens on the agricultural sector, which remains reliant mainly on uncertain entities such as quality of soil weather and effectiveness of farming practices. However, farmers from several parts of the world rely on tractors for being essential agricultural machinery. With the increased efficiency and productivity tractors brought, farms became larger because farmers could handle more land. The advent of the tractor allowed for specialization in crops and livestock, which shifted the farm economy to a cash-crop model and reduced the self-sufficiency of the farm. Tractors displaced mules and horses; as a result, farmers no longer needed to rise crop to feed work animals.
Global Tractor Industry will grow with a CAGR of 2.7% from 2021-2027
Worldwide, 7.9 Billion populations in 2021 are directly and indirectly dependent on agriculture.
In addition, the surge in population, advancements in tractor technology, and the rise in the appropriation of precision farming stimulate the growth of the global tractor market.
On the other hand, government initiatives for funding and assisting farmers with lower interest rates also expand the global agriculture tractor market. Growing farm cash receipt i.e. raises the affordability of tractors, profit and revenue generated from farming, which is expected to fuel the demand for agriculture tractors.
Four-Wheel Drive Global Agricultural Tractor Market
Based on type, Global Agricultural Tractor, the market is segmented into Four-wheel drive and Two-wheel drive. The enlargement in mechanization in the agriculture industry contributes to the growth of the four-wheel-drive tractors market. A four-wheel-drive (4WD) tractor comes with a four-wheel-drive axle that simultaneously spreads power to wheels. It helps in providing less slippage, excellent traction with better performance, more pulling power, is fuel-efficient, has longer service intervals, and distributes power to all wheels depending on the requirement.
Moreover, four-wheel-drive tractors and Two-wheel drive tractors are suitable for applications like land development & seedbed preparation, harvesting & threshing, Sowing & Planting, Weed Cultivation, etc. Due to the shortage of farm laborers, mostly in developed and developing economies most of the land is developed by four-wheel-drive tractors and Two-wheel drive tractors respectively.
Global Tractor Market Size was US$ 56.3 Billion in 2021
Furthermore, the main types of engine power are 100 HP to 150 HP, Less than 40 HP, 40 HP to 99 HP, 151 HP to 200 HP, 201 HP to 270 HP, 271 HP to 350 HP and Above 350 HP. The less than 40 HP tractors are mainly utilized for horticulture. In emerging countries, the demand for lower HP tractors is high due to the low disposable income of farmers. Besides, due to small farmland sizes, producers prefer small and customized tractors for agricultural purposes.
Asia-Pacific Commands the Agricultural Tractors Market
Based on geography, the global agriculture tractor industry is segmented into Europe, North America, Asia Pacific, and Rest of World. The Asia Pacific has emerged as a strong tractor market, with notable sales of tractors in India and China. Although China has significantly accelerated the adoption of tractors in recent years, its overall development of agricultural machinery is one of the crucial carriers for modern agriculture and a tool for improving farm productivity and liberating agricultural labor shortage. China introduced the 'Made in China 2025' scheme, focusing on producing 90% of its agricultural equipment with high-end machines, like agricultural tractors.
COVID-19 Impact in Worldwide Tractor Industry
Tractor industry has observed a sharp decline in the pandemic period, and the most affected company is the dealership system, owing to the disturbances in the supply chain. The global agricultural tractors market is an evolving industry, which has been hindered due to the unavailability of a workforce due to the corona virus’s spread. This has disrupted the production and installation of agriculture tractors across affected countries.
Company Aspect
The global tractor market is compressed, with major players such as John Deere's, CNH Industrial, AGCO Corporation, KUBOTA Corporation, Mahindra & Mahindra, Claas KGaA mbH, Argo Group International Holdings Ltd., Escorts Ltd. The market share is cornered by established brands in their particular country.
Renub Research new report titled “Global Tractor Market by Type (Four-wheel-drive tractors and Two-wheel drive), Engine Power (Less than 40 HP, 40 HP to 99 HP, 100 HP to 150 HP, 151 HP to 200 HP, 201 HP to 270 HP, 271 HP to 350 HP and Above 350 HP), Application (Land Development & Seed Bed Preparation , Sowing & Planting ,Weed Cultivation ,Plant Protection, Harvesting & Threshing and Post-harvest & Agro Processing), Region (North America, Europe, Asia-Pacific and ROW), Company Analysis (John Deere's, CNH Industrial, AGCO Corporation, KUBOTA Corporation, Mahindra & Mahindra, Claas KGaA mbH, Argo Group International Holdings Ltd., Escorts Ltd.)"" provides comprehensive details about Global Agricultural Tractors Industry
Drive Type – Global Agricultural Tractors Market breakup from 2 viewpoints
1. Two Wheel Drive
2. Four Wheel Drive
Engine Power – Global Agricultural Tractors Market breakup from 7 viewpoints
1. Less than 40 HP
2. 40 HP to 99 HP
3. 100 HP to 150 HP
4. 151 HP to 200 HP
5. 201 HP to 270 HP
6. 271 HP to 350 HP
7. Above 350 HP
Application - Global Agricultural Tractors Market breakup from 6 viewpoints
1. Land Development & Seed Bed Preparation
2. Sowing & Planting
3. Weed Cultivation
4. Plant Protection
5. Harvesting & Threshing
6. Post-harvest & Agro Processing
Region - Global Agricultural breakup from 4 viewpoints Tractors Market
1. North America
2. Europe
3. Asia-Pacific
4. Rest of the World
All companies have been covered from 3 viewpoints
• Overviews
• Recent Developments
• Revenues
Company Analysis
1. John Deere's
2. CNH Industrial,
3. AGCO Corporation
4. KUBOTA Corporation
5. Mahindra & Mahindra
6. Claas KGaA mbH
7. Argo Group International Holdings Ltd.
8. Escorts Ltd.
Global Tractor Market will reach US$ 66.1 Billion by 2027. Rising demand for food continues to impose heavy burdens on the agricultural sector, which remains reliant mainly on uncertain entities such as quality of soil weather and effectiveness of farming practices. However, farmers from several parts of the world rely on tractors for being essential agricultural machinery. With the increased efficiency and productivity tractors brought, farms became larger because farmers could handle more land. The advent of the tractor allowed for specialization in crops and livestock, which shifted the farm economy to a cash-crop model and reduced the self-sufficiency of the farm. Tractors displaced mules and horses; as a result, farmers no longer needed to rise crop to feed work animals.
Global Tractor Industry will grow with a CAGR of 2.7% from 2021-2027
Worldwide, 7.9 Billion populations in 2021 are directly and indirectly dependent on agriculture.
In addition, the surge in population, advancements in tractor technology, and the rise in the appropriation of precision farming stimulate the growth of the global tractor market.
On the other hand, government initiatives for funding and assisting farmers with lower interest rates also expand the global agriculture tractor market. Growing farm cash receipt i.e. raises the affordability of tractors, profit and revenue generated from farming, which is expected to fuel the demand for agriculture tractors.
Four-Wheel Drive Global Agricultural Tractor Market
Based on type, Global Agricultural Tractor, the market is segmented into Four-wheel drive and Two-wheel drive. The enlargement in mechanization in the agriculture industry contributes to the growth of the four-wheel-drive tractors market. A four-wheel-drive (4WD) tractor comes with a four-wheel-drive axle that simultaneously spreads power to wheels. It helps in providing less slippage, excellent traction with better performance, more pulling power, is fuel-efficient, has longer service intervals, and distributes power to all wheels depending on the requirement.
Moreover, four-wheel-drive tractors and Two-wheel drive tractors are suitable for applications like land development & seedbed preparation, harvesting & threshing, Sowing & Planting, Weed Cultivation, etc. Due to the shortage of farm laborers, mostly in developed and developing economies most of the land is developed by four-wheel-drive tractors and Two-wheel drive tractors respectively.
Global Tractor Market Size was US$ 56.3 Billion in 2021
Furthermore, the main types of engine power are 100 HP to 150 HP, Less than 40 HP, 40 HP to 99 HP, 151 HP to 200 HP, 201 HP to 270 HP, 271 HP to 350 HP and Above 350 HP. The less than 40 HP tractors are mainly utilized for horticulture. In emerging countries, the demand for lower HP tractors is high due to the low disposable income of farmers. Besides, due to small farmland sizes, producers prefer small and customized tractors for agricultural purposes.
Asia-Pacific Commands the Agricultural Tractors Market
Based on geography, the global agriculture tractor industry is segmented into Europe, North America, Asia Pacific, and Rest of World. The Asia Pacific has emerged as a strong tractor market, with notable sales of tractors in India and China. Although China has significantly accelerated the adoption of tractors in recent years, its overall development of agricultural machinery is one of the crucial carriers for modern agriculture and a tool for improving farm productivity and liberating agricultural labor shortage. China introduced the 'Made in China 2025' scheme, focusing on producing 90% of its agricultural equipment with high-end machines, like agricultural tractors.
COVID-19 Impact in Worldwide Tractor Industry
Tractor industry has observed a sharp decline in the pandemic period, and the most affected company is the dealership system, owing to the disturbances in the supply chain. The global agricultural tractors market is an evolving industry, which has been hindered due to the unavailability of a workforce due to the corona virus’s spread. This has disrupted the production and installation of agriculture tractors across affected countries.
Company Aspect
The global tractor market is compressed, with major players such as John Deere's, CNH Industrial, AGCO Corporation, KUBOTA Corporation, Mahindra & Mahindra, Claas KGaA mbH, Argo Group International Holdings Ltd., Escorts Ltd. The market share is cornered by established brands in their particular country.
Renub Research new report titled “Global Tractor Market by Type (Four-wheel-drive tractors and Two-wheel drive), Engine Power (Less than 40 HP, 40 HP to 99 HP, 100 HP to 150 HP, 151 HP to 200 HP, 201 HP to 270 HP, 271 HP to 350 HP and Above 350 HP), Application (Land Development & Seed Bed Preparation , Sowing & Planting ,Weed Cultivation ,Plant Protection, Harvesting & Threshing and Post-harvest & Agro Processing), Region (North America, Europe, Asia-Pacific and ROW), Company Analysis (John Deere's, CNH Industrial, AGCO Corporation, KUBOTA Corporation, Mahindra & Mahindra, Claas KGaA mbH, Argo Group International Holdings Ltd., Escorts Ltd.)"" provides comprehensive details about Global Agricultural Tractors Industry
Drive Type – Global Agricultural Tractors Market breakup from 2 viewpoints
1. Two Wheel Drive
2. Four Wheel Drive
Engine Power – Global Agricultural Tractors Market breakup from 7 viewpoints
1. Less than 40 HP
2. 40 HP to 99 HP
3. 100 HP to 150 HP
4. 151 HP to 200 HP
5. 201 HP to 270 HP
6. 271 HP to 350 HP
7. Above 350 HP
Application - Global Agricultural Tractors Market breakup from 6 viewpoints
1. Land Development & Seed Bed Preparation
2. Sowing & Planting
3. Weed Cultivation
4. Plant Protection
5. Harvesting & Threshing
6. Post-harvest & Agro Processing
Region - Global Agricultural breakup from 4 viewpoints Tractors Market
1. North America
2. Europe
3. Asia-Pacific
4. Rest of the World
All companies have been covered from 3 viewpoints
• Overviews
• Recent Developments
• Revenues
Company Analysis
1. John Deere's
2. CNH Industrial,
3. AGCO Corporation
4. KUBOTA Corporation
5. Mahindra & Mahindra
6. Claas KGaA mbH
7. Argo Group International Holdings Ltd.
8. Escorts Ltd.
Table of Contents
130 Pages
- 1. Introduction
- 2. Research & Methodology
- 3. Executive Summary
- 4. Market Dynamics
- 4.1 Growth Drivers
- 4.2 Challenges
- 5. Global Agricultural Tractors Market
- 6. Market Share – Global Tractor Analysis
- 6.1 Drive Type
- 6.2 By Engine Power
- 6.3 By Application
- 6.4 By Region
- 7. Drive Type – Global Tractor Market
- 7.1 Two Wheel Drive
- 7.2 Four Wheel Drive
- 8. Engine Power – Global Tractor Market
- 8.1 Less than 40 HP
- 8.2 40 HP to 99 HP
- 8.3 100 HP to 150 HP
- 8.4 151 HP to 200 HP
- 8.5 201 HP to 270 HP
- 8.6 271 HP to 350 HP
- 8.7 Above 350 HP
- 9. Application - Global Tractor Market
- 9.1 Land Development & Seed Bed Preparation
- 9.2 Sowing & Planting
- 9.3 Weed Cultivation
- 9.4 Plant Protection
- 9.5 Harvesting & Threshing
- 9.6 Post-harvest & Agro Processing
- 10. Region - Global Tractor Market
- 10.1 North America
- 10.2 Europe
- 10.3 Asia-Pacific
- 10.4 Rest of the World
- 11. Porters Five Forces
- 11.1 Overview
- 11.2 Bargaining Power of Buyers
- 11.3 Bargaining Power of Suppliers
- 11.4 Degree of Competition
- 11.5 Threat of New Entrants
- 11.6 Threat of Substitutes
- 12. Company Analysis
- 12.1 John Deere's
- 12.1.1 Overview
- 12.1.2 Recent Development
- 12.1.3 Revenue
- 12.2 CNH Industrial
- 12.2.1 Overview
- 12.2.2 Recent Development
- 12.2.3 Revenue
- 12.3 AGCO Corporation
- 12.3.1 Overview
- 12.3.2 Recent Development
- 12.3.3 Revenue
- 12.4 KUBOTA Corporation
- 12.4.1 Overview
- 12.4.2 Recent Development
- 12.4.3 Revenue
- 12.5 Mahindra & Mahindra
- 12.5.1 Overview
- 12.5.2 Recent Development
- 12.5.3 Revenue
- 12.6 Claas KGaA mbH
- 12.6.1 Overview
- 12.6.2 Recent Development
- 12.6.3 Revenue
- 12.7 Argo Group International Holdings Ltd.
- 12.7.1 Overview
- 12.7.2 Recent Development
- 12.7.3 Revenue
- 12.8 Escorts Ltd.
- 12.8.1 Overview
- 12.8.2 Recent Development
- 12.8.3 Revenue
- List Of Figures:
- Figure-01: Global Agricultural Tractors Market (Million US$), 2016 – 2021
- Figure-02: Global – Forecast for Agricultural Tractors Market (Million US$), 2022 – 2027
- Figure-03: Drive Type – Two Wheel Drive Market (Million US$), 2016 – 2021
- Figure-04: Drive Type – Forecast for Two Wheel Drive Market (Million US$), 2022 – 2027
- Figure-05: Drive Type – Four Wheel Drive Market (Million US$), 2016 – 2021
- Figure-06: Drive Type – Forecast for Four Wheel Drive Market (Million US$), 2022 – 2027
- Figure-07: Engine Power – Less than 40 HP Market (Million US$), 2016 – 2021
- Figure-08: Engine Power – Forecast for Less than 40 HP Market (Million US$), 2022 – 2027
- Figure-09: Engine Power – 40 HP to 99 HP Market (Million US$), 2016 – 2021
- Figure-10: Engine Power – Forecast for 40 HP to 99 HP Market (Million US$), 2022 – 2027
- Figure-11: Engine Power – 100 HP to 150 HP Market (Million US$), 2016 – 2021
- Figure-12: Engine Power – Forecast for 100 HP to 150 HP Market (Million US$), 2022 – 2027
- Figure-13: Engine Power – 151 HP to 200 HP Market (Million US$), 2016 – 2021
- Figure-14: Engine Power – Forecast for 151 HP to 200 HP Market (Million US$), 2022 – 2027
- Figure-15: Engine Power – 201 HP to 270 HP Market (Million US$), 2016 – 2021
- Figure-16: Engine Power – Forecast for 201 HP to 270 HP Market (Million US$), 2022 – 2027
- Figure-17: Engine Power – 271 HP to 350 HP Market (Million US$), 2016 – 2021
- Figure-18: Engine Power – Forecast for 271 HP to 350 HP Market (Million US$), 2022 – 2027
- Figure-19: Engine Power – Above 350 HP Market (Million US$), 2016 – 2021
- Figure-20: Engine Power – Forecast for Above 350 HP Market (Million US$), 2022 – 2027
- Figure-21: Application – Land Development & Seed Bed Preparation Market (Million US$), 2016 – 2021
- Figure-22: Application – Forecast for Land Development & Seed Bed Preparation Market (Million US$), 2022 – 2027
- Figure-23: Application – Sowing & Planting Market (Million US$), 2016 – 2021
- Figure-24: Application – Forecast for Sowing & Planting Market (Million US$), 2022 – 2027
- Figure-25: Application – Weed Cultivation Market (Million US$), 2016 – 2021
- Figure-26: Application – Forecast for Weed Cultivation Market (Million US$), 2022 – 2027
- Figure-27: Application – Plant Protection Market (Million US$), 2016 – 2021
- Figure-28: Application – Forecast for Plant Protection Market (Million US$), 2022 – 2027
- Figure-29: Application – Harvesting & Threshing Market (Million US$), 2016 – 2021
- Figure-30: Application – Forecast for Harvesting & Threshing Market (Million US$), 2022 – 2027
- Figure-31: Application – Post-harvest & Agro Processing Market (Million US$), 2016 – 2021
- Figure-32: Application – Forecast for Post-harvest & Agro Processing Market (Million US$), 2022 – 2027
- Figure-33: North America – Rheumatoid Arthritis Drug Market (Million US$), 2016 – 2021
- Figure-34: North America – Forecast for Rheumatoid Arthritis Drug Market (Million US$), 2022 – 2027
- Figure-35: Europe – Rheumatoid Arthritis Drug Market (Million US$), 2016 – 2021
- Figure-36: Europe – Forecast for Rheumatoid Arthritis Drug Market (Million US$), 2022 – 2027
- Figure-37: Asia-Pacific – Rheumatoid Arthritis Drug Market (Million US$), 2016 – 2021
- Figure-38: Asia-Pacific – Forecast for Rheumatoid Arthritis Drug Market (Million US$), 2022 – 2027
- Figure-39: Rest of the World – Rheumatoid Arthritis Drug Market (Million US$), 2016 – 2021
- Figure-40: Rest of the World – Forecast for Rheumatoid Arthritis Drug Market (Million US$), 2022 – 2027
- Figure-41: John Deere's – Global Revenue (Million US$), 2016 – 2021
- Figure-42: John Deere's – Forecast for Global Revenue (Million US$), 2022 – 2027
- Figure-43: CNH Industrial – Global Revenue (Million US$), 2016 – 2021
- Figure-44: CNH Industrial – Forecast for Global Revenue (Million US$), 2022 – 2027
- Figure-45: AGCO Corporation – Global Revenue (Million US$), 2016 – 2021
- Figure-46: AGCO Corporation – Forecast for Global Revenue (Million US$), 2022 – 2027
- Figure-47: KUBOTA Corporation – Global Revenue (Million US$), 2016 – 2021
- Figure-48: KUBOTA Corporation – Forecast for Global Revenue (Million US$), 2022 – 2027
- Figure-49: Mahindra & Mahindra – Global Revenue (Million US$), 2016 – 2021
- Figure-50: Mahindra & Mahindra – Forecast for Global Revenue (Million US$), 2022 – 2027
- List Of Tables:
- Table-01: Global – Agricultural Tractors Market Share by Drive Type (Percent), 2016 – 2021
- Table-02: Global – Forecast for Agricultural Tractors Market Share by Drive Type (Percent), 2022 – 2027
- Table-03: Global – Agricultural Tractors Market Share by Engine Power (Percent), 2016 – 2021
- Table-04: Global – Forecast for Agricultural Tractors Market Share by Engine Power (Percent), 2022 – 2027
- Table-05: Global – Agricultural Tractors Market Share by Application (Percent), 2016 – 2021
- Table-06: Global – Forecast for Agricultural Tractors Market Share by Application (Percent), 2022 – 2027
- Table-07: Global – Agricultural Tractors Market Share by Region (Percent), 2016 – 2021
- Table-08: Global – Forecast for Agricultural Tractors Market Share by Region (Percent), 2022 – 2027
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