Market Overview:
The global tractor market is expected to grow at a CAGR of 5.5% during the forecast period 2018-2030. The growth in the market can be attributed to factors such as, increase in demand for agricultural equipment, rise in disposable income of rural population, and technological advancements. Based on type, the global tractor market is segmented into below 10 KW, 10-30 KW, 30-50KW and above 50 KW segments. The below 10 KW segment is projected to grow at a CAGR of 4.8% during the forecast period due to increase in demand for small tractors from developing countries such as India and China. However, the 30-50KW segment is projected to grow at a higher CAGR of 6% during the forecast period owing to increasing adoption of mechanization by farmers across developed countries such as U.S., Germany and France . Based on application ,the global tractor market is divided into agricultural and forestry applications segments .
Product Definition:
A tractor is a vehicle specifically designed to tow or pull heavy objects behind it. Tractors are used extensively in agriculture to pull farm equipment such as plows, harrows, and seeders. They are also used for logging, construction, and other industrial applications.
Below 10 KW:
Below 10 KW, it's usage and growth factor in tractor market is expected to grow at a significant rate over the forecast period. The demand for low power tractors has been growing significantly owing to its increasing use in small farming and gardening applications. Moreover, technological advancements have also fueled the demand for these products as they offer better operational efficiency with less manual labor involvement.
The global below 10 KW segment was valued at USD 2,867 million in 2016.
10-30 KW:
The 10-30 KW power range is used for medium and light duty commercial vehicles. It can also be used for agricultural purposes, construction equipment, material handling equipment and other industrial applications. The global tractor market is expected to witness significant growth over the forecast period owing to increasing demand from agriculture sector across the globe.
Agricultural tractors are anticipated to remain a key area of focus for manufacturers in this segment owing to rising demand from emerging countries such as Brazil, China.
Application Insights:
The other application segment includes construction, mining and quarrying, and civil engineering applications. The global demand for tractors in the other application segment is expected to witness growth at a CAGR of XX% from 2018 to 2030 owing to the increasing demand for agricultural equipment across various regions coupled with government initiatives encouraging farmers to adopt modern techniques.
The agriculture sector accounted for more than 50% of the overall share in 2017 due largely to rising population coupled with an increase in food production globally has resulted into higher demand agricultural equipment such as combines harvesters which are manufactured using advanced technology along with superior quality materials which ensures years of efficient service.
Regional Analysis:
Asia Pacific dominated the global market in 2017 and is expected to continue its dominance over the forecast period. The region has been witnessing strong economic growth on account of rapid development in various agricultural, horticultural, and animal-based industries. Furthermore, increasing demand for food products along with rising disposable income levels will drive the regional market further.
Europe accounted for a significant share of revenue in 2017 owing to high demand from countries such as Russia and Spain that are heavily dependent on agriculture sector for their economic activities. Moreover, presence of major players coupled with technological advancements is also likely to contribute toward regional growth over the next eight years or so.
Growth Factors:
- Increasing demand for food owing to population growth
- Rising disposable income of consumers in developing countries
- Technological advancements in agriculture sector
- Government initiatives to promote farm mechanization
- Growing awareness about the benefits of using tractors
Scope Of The Report
Report Attributes
Report Details
Report Title
Tractor Market Research Report
By Type
Below 10 KW, 10-30 KW, 30-50KW, Above 50 KW
By Application
Agricultural, Forestry, Other
By Companies
Deere, New Holland, AGCO, Kubota, Claas, Same Deutz-Fahr, Kuhn
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
241
Number of Tables & Figures
169
Customization Available
Yes, the report can be customized as per your need.
Global Tractor Market Report Segments:
The global Tractor market is segmented on the basis of:
Types
Below 10 KW, 10-30 KW, 30-50KW, Above 50 KW
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Agricultural, Forestry, Other
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Deere
- New Holland
- AGCO
- Kubota
- Claas
- Same Deutz-Fahr
- Kuhn
Highlights of The Tractor Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Below 10 KW
- 10-30 KW
- 30-50KW
- Above 50 KW
- By Application:
- Agricultural
- Forestry
- Other
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Tractor Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Tractor is a vehicle that is used to pull other vehicles or objects.
Some of the key players operating in the tractor market are Deere, New Holland, AGCO, Kubota, Claas, Same Deutz-Fahr, Kuhn.
The tractor market is expected to grow at a compound annual growth rate of 5.5%.
1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Tractor Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Tractor Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Tractor Market - Supply Chain
4.5. Global Tractor Market Forecast
4.5.1. Tractor Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Tractor Market Size (000 Units) and Y-o-Y Growth
4.5.3. Tractor Market Absolute $ Opportunity
5. Global Tractor Market Analysis and Forecast by Type
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Type
5.2.2. Y-o-Y Growth Projections by Type
5.3. Tractor Market Size and Volume Forecast by Type
5.3.1. Below 10 KW
5.3.2. 10-30 KW
5.3.3. 30-50KW
5.3.4. Above 50 KW
5.4. Absolute $ Opportunity Assessment by Type
5.5. Market Attractiveness/Growth Potential Analysis by Type
6. Global Tractor Market Analysis and Forecast by Application
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by Application
6.2.2. Y-o-Y Growth Projections by Application
6.3. Tractor Market Size and Volume Forecast by Application
6.3.1. Agricultural
6.3.2. Forestry
6.3.3. Other
6.4. Absolute $ Opportunity Assessment by Application
6.5. Market Attractiveness/Growth Potential Analysis by Application
7. Global Tractor Market Analysis and Forecast by Sales Channel
7.1. Market Trends
7.2. Introduction
7.2.1. Basis Point Share (BPS) Analysis by Sales Channel
7.2.2. Y-o-Y Growth Projections by Sales Channel
7.3. Tractor Market Size and Volume Forecast by Sales Channel
7.3.1. Manufacturer/Distributor/Service Provider
7.3.2. Aftermarket
7.4. Absolute $ Opportunity Assessment by Sales Channel
7.5. Market Attractiveness/Growth Potential Analysis by Sales Channel
8. Global Tractor Market Analysis and Forecast by Region
8.1. Market Trends
8.2. Introduction
8.2.1. Basis Point Share (BPS) Analysis by Region
8.2.2. Y-o-Y Growth Projections by Region
8.3. Tractor Market Size and Volume Forecast by Region
8.3.1. North America
8.3.2. Latin America
8.3.3. Europe
8.3.4. Asia Pacific
8.3.5. Middle East and Africa (MEA)
8.4. Absolute $ Opportunity Assessment by Region
8.5. Market Attractiveness/Growth Potential Analysis by Region
8.6. Global Tractor Demand Share Forecast, 2019-2026
9. North America Tractor Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.2. North America Tractor Market Size and Volume Forecast by Country
9.2.1. U.S.
9.2.2. Canada
9.3. Absolute $ Opportunity Assessment by Country
9.4. North America Tractor Market Size and Volume Forecast by Application
9.4.1. Agricultural
9.4.2. Forestry
9.4.3. Other
9.5. Basis Point Share (BPS) Analysis by Application
9.6. Y-o-Y Growth Projections by Application
9.7. North America Tractor Market Size and Volume Forecast by Type
9.7.1. Below 10 KW
9.7.2. 10-30 KW
9.7.3. 30-50KW
9.7.4. Above 50 KW
9.8. Basis Point Share (BPS) Analysis by Type
9.9. Y-o-Y Growth Projections by Type
9.10. Market Attractiveness/Growth Potential Analysis
9.10.1. By Country
9.10.2. By Product Type
9.10.3. By Application
9.10.4. By Sales Channel
9.11. North America Tractor Demand Share Forecast, 2019-2026
10. Latin America Tractor Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Latin America Average Pricing Analysis
10.2. Latin America Tractor Market Size and Volume Forecast by Country
10.2.1. Brazil
10.2.2. Mexico
10.2.3. Rest of Latin America
10.3. Absolute $ Opportunity Assessment by Country
10.4. Latin America Tractor Market Size and Volume Forecast by Application
10.4.1. Agricultural
10.4.2. Forestry
10.4.3. Other
10.5. Basis Point Share (BPS) Analysis by Application
10.6. Y-o-Y Growth Projections by Application
10.7. Latin America Tractor Market Size and Volume Forecast by Type
10.7.1. Below 10 KW
10.7.2. 10-30 KW
10.7.3. 30-50KW
10.7.4. Above 50 KW
10.8. Basis Point Share (BPS) Analysis by Type
10.9. Y-o-Y Growth Projections by Type
10.10. Market Attractiveness/Growth Potential Analysis
10.10.1. By Country
10.10.2. By Product Type
10.10.3. By Application
10.10.4. By Sales Channel
10.11. Latin America Tractor Demand Share Forecast, 2019-2026
11. Europe Tractor Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Europe Average Pricing Analysis
11.2. Europe Tractor Market Size and Volume Forecast by Country
11.2.1. Germany
11.2.2. France
11.2.3. Italy
11.2.4. U.K.
11.2.5. Spain
11.2.6. Russia
11.2.7. Rest of Europe
11.3. Absolute $ Opportunity Assessment by Country
11.4. Europe Tractor Market Size and Volume Forecast by Application
11.4.1. Agricultural
11.4.2. Forestry
11.4.3. Other
11.5. Basis Point Share (BPS) Analysis by Application
11.6. Y-o-Y Growth Projections by Application
11.7. Europe Tractor Market Size and Volume Forecast by Type
11.7.1. Below 10 KW
11.7.2. 10-30 KW
11.7.3. 30-50KW
11.7.4. Above 50 KW
11.8. Basis Point Share (BPS) Analysis by Type
11.9. Y-o-Y Growth Projections by Type
11.10. Market Attractiveness/Growth Potential Analysis
11.10.1. By Country
11.10.2. By Product Type
11.10.3. By Application
11.10.4. By Sales Channel
11.11. Europe Tractor Demand Share, 2019-2026
12. Asia Pacific Tractor Market Analysis and Forecast
12.1. Introduction
12.1.1. Basis Point Share (BPS) Analysis by Country
12.1.2. Y-o-Y Growth Projections by Country
12.1.3. Asia Pacific Average Pricing Analysis
12.2. Asia Pacific Tractor Market Size and Volume Forecast by Country
12.2.1. China
12.2.2. Japan
12.2.3. South Korea
12.2.4. India
12.2.5. Australia
12.2.6. Rest of Asia Pacific (APAC)
12.3. Absolute $ Opportunity Assessment by Country
12.4. Asia Pacific Tractor Market Size and Volume Forecast by Application
12.4.1. Agricultural
12.4.2. Forestry
12.4.3. Other
12.5. Basis Point Share (BPS) Analysis by Application
12.6. Y-o-Y Growth Projections by Application
12.7. Asia Pacific Tractor Market Size and Volume Forecast by Type
12.7.1. Below 10 KW
12.7.2. 10-30 KW
12.7.3. 30-50KW
12.7.4. Above 50 KW
12.8. Basis Point Share (BPS) Analysis by Type
12.9. Y-o-Y Growth Projections by Type
12.10. Market Attractiveness/Growth Potential Analysis
12.10.1. By Country
12.10.2. By Product Type
12.10.3. By Application
12.10.4. By Sales Channel
12.11. Asia Pacific Tractor Demand Share, 2019-2026
13. Middle East & Africa Tractor Market Analysis and Forecast
13.1. Introduction
13.1.1. Basis Point Share (BPS) Analysis by Country
13.1.2. Y-o-Y Growth Projections by Country
13.1.3. Asia Pacific Average Pricing Analysis
13.2. Middle East & Africa Tractor Market Size and Volume Forecast by Country
13.2.1. Saudi Arabia
13.2.2. South Africa
13.2.3. UAE
13.2.4. Rest of Middle East & Africa (MEA)
13.3. Absolute $ Opportunity Assessment by Country
13.4. Middle East & Africa Tractor Market Size and Volume Forecast by Application
13.4.1. Agricultural
13.4.2. Forestry
13.4.3. Other
13.5. Basis Point Share (BPS) Analysis by Application
13.6. Y-o-Y Growth Projections by Application
13.7. Middle East & Africa Tractor Market Size and Volume Forecast by Type
13.7.1. Below 10 KW
13.7.2. 10-30 KW
13.7.3. 30-50KW
13.7.4. Above 50 KW
13.8. Basis Point Share (BPS) Analysis by Type
13.9. Y-o-Y Growth Projections by Type
13.10. Market Attractiveness/Growth Potential Analysis
13.10.1. By Country
13.10.2. By Product Type
13.10.3. By Application
13.10.4. By Sales Channel
13.11. Middle East & Africa Tractor Demand Share, 2019-2026
14. Competition Landscape
14.1. Global Tractor Market: Market Share Analysis
14.2. Tractor Distributors and Customers
14.3. Tractor Market: Competitive Dashboard
14.4. Company Profiles (Details Overview, Financials, Developments, Strategy)
14.4.1. Deere
14.4.1.1. Overview
14.4.1.2. Financials
14.4.1.3. Developments
14.4.1.4. Strategic Outlook
14.4.2. New Holland
14.4.2.1. Overview
14.4.2.2. Financials
14.4.2.3. Developments
14.4.2.4. Strategic Outlook
14.4.3. AGCO
14.4.3.1. Overview
14.4.3.2. Financials
14.4.3.3. Developments
14.4.3.4. Strategic Outlook
14.4.4. Kubota
14.4.4.1. Overview
14.4.4.2. Financials
14.4.4.3. Developments
14.4.4.4. Strategic Outlook
14.4.5. Claas
14.4.5.1. Overview
14.4.5.2. Financials
14.4.5.3. Developments
14.4.5.4. Strategic Outlook
14.4.6. Same Deutz-Fahr
14.4.6.1. Overview
14.4.6.2. Financials
14.4.6.3. Developments
14.4.6.4. Strategic Outlook
14.4.7. Kuhn
14.4.7.1. Overview
14.4.7.2. Financials
14.4.7.3. Developments
14.4.7.4. Strategic Outlook
14.4.8. COMPANY8
14.4.8.1. Overview
14.4.8.2. Financials
14.4.8.3. Developments
14.4.8.4. Strategic Outlook
14.4.9. COMPANY9
14.4.9.1. Overview
14.4.9.2. Financials
14.4.9.3. Developments
14.4.9.4. Strategic Outlook
14.4.10. COMPANY 10
14.4.10.1. Overview
14.4.10.2. Financials
14.4.10.3. Developments
14.4.10.4. Strategic Outlook
14.4.11. COMPANY 11
14.4.11.1. Overview
14.4.11.2. Financials
14.4.11.3. Developments
14.4.11.4. Strategic Outlook
14.4.12. COMPANY 12
14.4.12.1. Overview
14.4.12.2. Financials
14.4.12.3. Developments
14.4.12.4. Strategic Outlook
14.4.13. COMPANY 13
14.4.13.1. Overview
14.4.13.2. Financials
14.4.13.3. Developments
14.4.13.4. Strategic Outlook
14.4.14. COMPANY 14
14.4.14.1. Overview
14.4.14.2. Financials
14.4.14.3. Developments
14.4.14.4. Strategic Outlook
14.4.15. COMPANY 15
14.4.15.1. Overview
14.4.15.2. Financials
14.4.15.3. Developments
14.4.15.4. Strategic Outlook
14.4.16. COMPANY 16
14.4.16.1. Overview
14.4.16.2. Financials
14.4.16.3. Developments
14.4.16.4. Strategic Outlook
14.4.17. COMPANY 17
14.4.17.1. Overview
14.4.17.2. Financials
14.4.17.3. Developments
14.4.17.4. Strategic Outlook
14.4.18. COMPANY 18
14.4.18.1. Overview
14.4.18.2. Financials
14.4.18.3. Developments
14.4.18.4. Strategic Outlook
14.4.19. COMPANY 19
14.4.19.1. Overview
14.4.19.2. Financials
14.4.19.3. Developments
14.4.19.4. Strategic Outlook
14.4.20. COMPANY 20
14.4.20.1. Overview
14.4.20.2. Financials
14.4.20.3. Developments
14.4.20.4. Strategic Outlook
