Tractors Market Overview, Industry Top Manufactures, Market Size, Industry Growth Analysis & Forecast: 2024

(The Express Wire via Comtex)

Global Tractors Industry 2019 research report signifies the detail overview of existing market State, Size, Share and forecast 2019-2024. The Tractors report further covers the comprehensive analysis of the future progress of the Tractors Market. Additionally, this report gives Tractors Market trends, share, development, and cost structure and drivers analysis.

Global “Tractors Market” report provides detail analysis of all market dynamics including drivers and restraints, and trends and opportunities. Important factors supporting growth across various is also provided. Using the industrial figures, the market finds growth figures between the forecast period from 2019 - 2024. In order to present an executive-level model of the market and its future perspectives, Tractors Market report presents a clear segmentation based on different parameters. The factors that affect these segments are also discussed in detail in the report.

Following Companies Are Covered by Tractors Market

  • Deere and Company
  • CNH Global NV (includes New Holland and Case IH)
  • AGCO Corporation (includes Massey Ferguson, Valtra, Fendt, and Challenger)
  • CLAAS KGaA mbH
  • Mahindra and Mahindra Corporation
  • Kubota Corporation
  • Escorts Group
  • Tractors and Farm Equipment Limited (TAFE)
  • Kuhn Group (Subsidiary of Bucher Industries)
  • Yanmar Company Limited
  • Deutz
  • Fahr

Get a Sample Copy of the Report - https://www.absolutereports.com/enquiry/request-sample/14244418

Market Overview:

  • The tractors market is expected to register a CAGR of 4.02%, during the forecast period, 2019-2024.
  • - The tractor segment, which covered a major share of 39% in the agricultural machinery market in 2018, is anticipated to remain a major machinery segment, during the forecast period, owing to the increasing demand for high horsepower tractors, ranging above 40 horsepower (HP) (i.e. utility tractors and row crop tractors), from the matured markets, such as Europe and North America.
  • - Increasing arable land area, along with the demand for agricultural mechanization in the matured and emerging markets, is driving the tractor market, globally.
  • - Four-wheel drive tractors being very less in number, in comparison to two-wheel drive tractors, is expected to see considerable growth over the forecast period, due to rising demand for efficient power utilization by eliminating the loss of torque due to low traction conditions.
  • - The rising demand for mechanization and the increased number of medium-scale farmers are the primary factors that have created a demand for tractor hiring in Ghana and other African countries, majorly in the south of the Sahara. This is expected to allow tractor owners to fully utilize their machines, while also providing services to farmers who cannot afford their own tractors. Small farmers in African countries, such as Nigeria, cannot afford tractors. However, an Uber-like program has been gradually expanding in the country, which makes it possible for farmers to get temporary access to tractors in demand.
  • - In order to increase productivity and to ensure sustainability in agricultural practices, autonomous tractors are being used.
  • - Case IH and New Holland introduced new autonomous tractors, recently. The new Case IH concept vehicle is a cab-less row-crop tractor, based on the existing Magnum tractor, which can operate autonomously on a wide range of field implements.
  • - Asia-Pacific is the largest market for tractors, with a share of nearly 50% of the global market. India and China are leading in the Asia-Pacific market, with market shares of 38% and 34%, respectively.
  • - Europe and America, being matured markets, have high growth potential for tractor sales under more than 100HP category. Germany and France stand second and third, in terms of market revenue positioning in 2018. Agricultural Machinery in Germany experienced a 9% growth in demand in 2017, owing to a rise in the sales of new tractors.

Scope of the Report:

  • The tractors market include agricultural tractors and lawn mowers/lawn tractors. The tractors with the following horsepower have been included in the study - below 40 HP, 40 HP - 100 HP, and above 100 HP. The drive types considered in the study are two-wheel drive and four-wheel/all-wheel drive.

The Research Document Will Answer Following Questions Such as:

What are the cutting-edge technologies responsible for driving the growth of the market?

What are the main applications of the market? What are the growth prospects to the market applications into the market?

At what stage of development are the key market products?

What are the shortcomings that has to face to become commercially viable? Is their growth and commercialization dependent on cost declines or technological/application breakthroughs?

What is the outlook for the industry?

What difference does performance characteristics of Tractors create from those of established entities?

For More Information or Query or Customization before Buying, Visit at - https://www.absolutereports.com/enquiry/pre-order-enquiry/14244418

Key Market Trends:

Tractors above the 100 HP Range are Projected to Grow at a Fast Pace

The global market for tractors above the 100 HP range was valued at USD 19.83 billion in 2018. The segment is expected to register a CAGR of 5.39%, during the forecast period.

- Tractors above the 100 HP range, generally referred to as farm tractors, which can handle almost all agricultural tasks, are suitable for commercial farming. However, they generally come with a huge price tag.
- They possess four to six cylinders and have huge engines of volume, varying from 2500-6000 cc. Hydraulics are fitted to these tractors for lifting and clearing purposes in the fields. Telematics is also being introduced for these tractors on a significant scale for auto-steer systems.
- As productivity in the agriculture field continues to rise, so does the need for more power in tractors. Larger engines mean large-sized tractors, which might not be practical for the existing infrastructure that customers have. Also, tier-4 emission standards are adding a significant amount of cost to the prices of large-sized tractors.
- An easy way to add value to offset these additional costs without reaching the customers is to add more horsepower to the tractors without increasing their size. A lot of technological developments are being researched into for realizing this idea and tractor launches are being made.
- For example, AGCO tweaked the existing models and increased their power by around 35 HP. These new tractors were launched in the Massey Ferguson 8600 and Challenger MT600C series. John Deere also achieved a similar power increase of around 15 HP from the earlier 330 HP in its 8000 and 9000 series tractors. In 2018, the Mahindra brand launched three new tractor series: 6000, 7000, and 9000, in North America, taking up the maximum available power to 120 HP.
- Emerging economies, such as China, India, and Brazil, with a high governmental thrust for agricultural development, are poised to become the greatest markets for these farm tractors.

Asia-Pacific Dominates the Global Market

Asia-Pacific dominated the tractors market, and the region is expected to witness the fastest growth rate during the forecast period.

In the Asia-Pacific region, India is the biggest market for tractors. The country accounted for 38.15% of the market in 2018, followed by China (with 34.06%). The country is also expected to witness the fastest growth during the forecast period. At 157.35 million hectares, India holds the second-largest agricultural land in the world. The agricultural sector, which is the backbone of the Indian economy, contributes majorly to the country’s GDP. As of February 2018, it was estimated that over 58% of rural Indians had depended on agriculture for their livelihood, with the sector contributing around 17-18% to the country’s GDP. The consistent growth of the agricultural sector is driving the agricultural machinery market in the country. Government initiatives, such as Tractor Subsidy Scheme, Kisan Credit Card, and National Mission on Agricultural Mechanization, have been continuously contributing to the growth of the agricultural machinery market in the country. Additionally, easy availability and access to low-cost credit may also drive the market toward growth, in turn, helping the farmers to obtain high yield, invest in assets, and earn more income.

Currently, Indian farmers are getting used to farm mechanization at a faster rate as compared to the past, and this is reflected on the increased sales of agricultural machinery. The Indian tractor industry has emerged as the largest in the world, accounting for about one-third of the total global tractor production, as per the Economic Survey 2017-2018. In India, tractors comprise 85% of organized mechanization, while only 15% comes from machinery, primarily because of the landholding size in India becoming much smaller. However, the market will see a change happening over the next three to five years, once the government contract farming policy is rolled out.

Reasons for Buying Tractors Market Report:

This report provides pin-point analysis for changing competitive dynamics

It provides a forward looking perspective on different factors driving or restraining market growth

It provides a five-year forecast assessed on the basis of how the market is predicted to grow

It helps in understanding the key product segments and their future

It provides pin point analysis of changing competition dynamics and keeps you ahead of competitors

It helps in making informed business decisions by having complete insights of market and by making in-depth analysis of market segments

Purchase this Report (Price 4250 USD for single user license) - https://www.absolutereports.com/purchase/14244418

Detailed TOC of Tractors Market Report 2019-2024:

1 INTRODUCTION
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study

2 RESEARCH METHODOLOGY

3 EXECUTIVE SUMMARY

4 MARKET DYNAMICS
4.1 Market Overview
4.2 Introduction to Market Drivers and Restraints
4.3 Market Drivers
4.4 Market Restraints
4.5 Industry Attractiveness - Porter's Five Forces Analysis
4.5.1 Threat of New Entrants
4.5.2 Bargaining Power of Buyers/Consumers
4.5.3 Bargaining Power of Suppliers
4.5.4 Threat of Substitute Products
4.5.5 Intensity of Competitive Rivalry

5 MARKET SEGMENTATION
5.1 By Horsepower
5.1.1 Below 40 HP
5.1.2 40 HP - 100 HP
5.1.3 Above 100 HP
5.2 By Drive Type
5.2.1 Two-wheel Drive
5.2.2 Four-wheel Drive/All-wheel Drive
5.3 Geography
5.3.1 North America
5.3.1.1 US
5.3.1.2 Canada
5.3.1.3 Rest of North America
5.3.2 Europe
5.3.2.1 Germany
5.3.2.2 UK
5.3.2.3 France
5.3.2.4 Spain
5.3.2.5 Italy
5.3.2.6 Rest of Europe
5.3.3 Asia-Pacific
5.3.3.1 China
5.3.3.2 Japan
5.3.3.3 India
5.3.3.4 Rest of Asia-Pacific
5.3.4 Rest of the World
5.3.4.1 Brazil
5.3.4.2 South Africa
5.3.4.3 Other Countries

6 COMPETITIVE LANDSCAPE
6.1 Vendor Market Share
6.2 Mergers and Acquisitions
6.3 Company Profiles
6.3.1 Deere and Company
6.3.2 CNH Global NV (includes New Holland and Case IH)
6.3.3 AGCO Corporation (includes Massey Ferguson, Valtra, Fendt, and Challenger)
6.3.4 CLAAS KGaA mbH
6.3.5 Mahindra and Mahindra Corporation
6.3.6 Kubota Corporation
6.3.7 Escorts Group
6.3.8 Tractors and Farm Equipment Limited (TAFE)
6.3.9 Kuhn Group (Subsidiary of Bucher Industries)
6.3.10 Yanmar Company Limited
6.3.11 Deutz-Fahr

7 MARKET OPPORTUNITIES AND FUTURE TRENDS

8 Disclaimer

Contact Us:

Name: Ajay More

Phone: US +14242530807/ UK +44 20 3239 8187

Email: [email protected]

Press Release Distributed by The Express Wire

To view the original version on The Express Wire visit Tractors Market Overview, Industry Top Manufactures, Market Size, Industry Growth Analysis & Forecast: 2024