Global Tractors and Trailers Market By Trailer Type (Open trailers, Flatbed Trailer, Lowboy Trailers, Others), By Application (Industrial, Agriculture, Others), By Horsepower (Below 40 HP, 40-100 HP, Above 100 HP), By Region, Forecast & Opportunities, 2025
Global tractors and trailers market is expected to grow at an impressive CAGR during the forecast period on account of increasing demand for food and increasing demand for agriculture production. The increase in agricultural activities around the world is leading to high demand for tractors and trailers in order to transport goods from one place to another. COVID-19 is expected to have negative impact on the tractor and trailer market in 2020. With more farmers having the knowledge of latest technology, the global tractors and trailers market is anticipated to register high growth by 2025.
Additionally, with government support and policies to encourage farming, the tractors and trailers market is also undergoing significant growth. Apart from agricultural activities, tractors and trailers also find application in industrial and other commercial sectors. With automakers coming up with latest technology equipped tractors and trailer, the market is poised to grow at a healthy rate.
Global tractors and trailers market is segmented based on trailer type, application, horsepower and region. Based on application, the market is segmented into industrial, agriculture and others. The agriculture segment dominates the global market in terms of revenue and is expected to continue its dominance over the next five years. Increasing number of agricultural activities and demand for food grains are leading to high demand of tractors and trailers.
Regionally, Asia Pacific is expected to dominate the global tractors and trailers market owing to increasing agricultural activities in the region. Countries like China and India are leading agricultural producers and hence there is high demand for tractors and trailers to load and unload the food grains in these countries.
Some of the leading players in the global tractors and trailers market are Escorts, Mahindra Tractors, John Deere, Massey Ferguson, Sonalika Tractors, New Holland, CNH, Kubota, ACE Tractors, Captain Tractors and Force Motors, among others. Key market players are focusing on increasing the production to meet the growing demand for tractors and trailers. They are also undergoing other growth strategies like merger and acquisitions to increase their market share, globally.
Years considered for this report:
Historical Period: 2015-2018
Base Year: 2019
Estimated Year: 2020
Forecast Period: 2021 – 2025
Objective of the Study:
To analyse and forecast the market size of global tractors and trailers, in terms of value and volume.
To classify and forecast global tractors and trailers based on trailer type, application, horsepower and regional distribution.
To identify drivers and challenges for global tractors and trailers.
To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in global tractors and trailers.
To conduct the pricing analysis for global tractors and trailers.
To identify and analyse the profile of leading players involved in the global tractors and trailers market.
TechSci Research performed primary as well as exhaustive secondary research for this study. Initially, TechSci Research sourced a list of tractor and trailer manufacturers globally. Subsequently, TechSci Research conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, TechSci Research was able to include suppliers and distributors that could not be identified due to the limitations of secondary research. TechSci Research analysed trailer type, application, horsepower and regional presence of all major tractor and trailer manufacturers across the globe.
TechSci Research calculated the market size of tractors and trailers market using a bottom-up approach, where data for various end-user segments were recorded and forecast for the future years. TechSci Research sourced these values from the industry experts and company representatives and externally validated through analyzing historical data of these product types and applications for getting an appropriate, overall market size. Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations and financial reports were also studied by TechSci Research.
Key Target Audience:
Tractor and trailer manufacturers, suppliers and other stakeholders
Government bodies such as regulating authorities and policy makers
Organizations, forums and alliances related to tractors and trailers market
Market research and consulting firms
The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as collaboration service providers and partners, end users, etc., besides allowing them in strategizing investments and capitalizing on market opportunities.
In this report, global tractors and trailers market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
Global Tractors and Trailers Market, By Trailer Type:
Global Tractors and Trailers Market, By Application:
Global Tractors and Trailers Market, By Horsepower:
Below 40 HP
Above 100 HP
Global Tractors and Trailers Market, By Region:
Middle East and Africa
Company Profiles: Detailed analysis of the major companies present in global tractors and trailers market.
With the given market data, TechSci Research offers customizations according a company’s specific needs. The following customization options are available for the report:
Detailed analysis and profiling of additional market players (up to five).
Profit Margin Analysis
Profit margin analysis in case of direct and indirect sales channel.
Please Note: Report will be updated with the latest data and delivered to you within 3-5 working days of order.