This site uses cookies, including third-party cookies, that help us to provide and improve our services. Read More

Tractors Market

Tractors Market

Tractors Market Segmentation by Engine Types (22 to 25HP, 25 to 60HP, 60 to 140HP), by Mechanism Type (Electric Tractors, Hydraulic Tractors, Hybrid Tractors), by Application Type (Utility Tractors, Row Crop Tractor, Industrial Tractor, Garden Tractor) and Region (North America, Europe, Asia-Pacific and the Rest of the World) – Global Forecast to 2026

Tractors Market
  • Mar-2018
  • List of Tables : 131
  • List of Figures : 99
  • 170 Pages
  • Automotive


Rising demand for food continues to impose heavy burdens on the agricultural sector, the progress of which remains largely dependent on uncertain entities such as weather, quality of soil and effectiveness of farming practices.

However, farmers from several parts of the world rely on tractors for being the most essential agricultural machinery.

By undertaking heavy fieldwork operations, tractors have emerged as a robust commodity in the global agriculture industry.

New range of tractors entering the market are exhibiting higher efficiency in terms of fuel consumption and performance.

Manufacturers are also focusing on lowering the carbon footprint of tractors for supporting their utility in sustainable farming.

Furthermore, farmers are enrolling into training programs for extending their abilities in operating advanced tractors that come with a range of functionalities beyond their conventional purpose in tilling, plowing and harrowing.

global tractors market

Fact.MR observes that the adoption of tractors witnessed an impressive growth in the past decade.

According to its forecast study, the global market for tractors is assessed to witness sales of over 3,100 thousand units of tractors by the end of 2026.

The study also foresees that during the period, 2017-2026, the global tractors market will reflect a CAGR of 3.2% in terms of value.

Large Scale Farming to Drive the Demand for Tractors Equipped with 60-140 HP Engines

In 2017 and beyond, around 30% of tractors sold globally will be equipped with 60-140 HP engines.

The report identifies that increasing adoption of large-scale farming is driving the need for tractors with high power engines.

Governments are providing lucrative funding for large-scale farming, which extends the budgets of farmers in buying tractors with high power engines.

From the manufacturing standpoint, high prices of 60-140 HP tractors will translate into high profit margins in the view of their growing sales.

The demand for 140-400 HP tractors is also pegged to surge towards the end of the forecast period. By the end of 2026, nearly 330 thousand units of 140-400 HP tractors are pegged to be sold globally.

Hydraulic Mechanism to Remain Sought-After; Garden Applications to Register Fast Volume Growth

Majority of tractors manufactured globally will be developed on a hydraulic mechanism.

The advantages of hydraulic tractors in terms of efficient fuel and fluid transmissions, economical utility and conservative power consumption will drive their sales in the near future.

Throughout the forecast period, more than 50% of tractors sold globally will be developed on hydraulic mechanism.

It is further estimated that gardening application of tractors will gain traction through 2026. Over the forecast period, garden tractors are expected to reflect the highest volume CAGR of 3.7%, reflecting rampant adoption.

The report also foresees that utility tractors will be a high volume growth application in the global market. By the end of 2026, more than 740 thousand units of utility tractors are pegged to be sold worldwide.

Arrival of Driverless Tractors to Redefine Market Dynamics

Leading manufacturers of tractors are expected to focus on improving the safety of tractors by incorporating technologies and remodeling the structure of tractors, thereby eliminating the chances of rollovers. Companies such as

  • Caterpillar
  • Deere & Company
  • Tractors and Farm Equipment Limited
  • Kubota Corporation
  • AGCO Corporation
  • Claas KGaA mbH
  • New Holland
  • McCormick Tractor
  • Escorts Limited.
  • Bobcat (a Doosan company)
  • Mahindra & Mahindra Limited
  • KIOTI Tractor (subsidiary of Daedong Industrial Company, Ltd.)
  • Yanmar America Corporation
  • JCB

are observed as the key manufacturers of tractors in the world.

With the advent of autonomous driving technologies, self-driving tractors will be penetrating the agricultural machinery industry in the near future.

Driverless tractors will revolutionize the global landscape for tractor manufacturing. Advanced sensors and IoT technologies will be integrated with tractors to transform their functioning for meeting the future farming needs.

Avail customized purchase options for your needs

Market Taxonomy

  • North America
  • Latin America
  • Europe
  • Japan
  • APEJ
  • MEA
Engine Types
  • 22 to 25HP
  • 25 to 60HP
  • 60 to 140HP
  • 140 to 400 HP
  • 400 to 620 HP
Mechanism Type
  • Electric
  • Hydraulic
  • Hybrid
Application Type
  • Utility Tractors
  • Row Crop Tractor
  • Orchard Type
  • Industrial Tractor
  • Garden Tractor
  • Rotary Tillers
  • Implement Carrier
  • Earth Moving Tractors

Need an Exclusive Report for your Unique Requirement?

- Related Reports -

Motion Control Market

Motion Control Market expects a steady traction around 5% CAGR by 2031. AC servo motion control segm...

Spare Wheel Carrier Market

Spare Wheel Carrier Market research report covers detailed information on Global Spare Wheel Carrier...

Power Distribution Module Market

Power Distribution Module Market is poised to expand at a CARG of 5.5% and is anticipated to surpass...

Rail Gangways Market

[170 Pages Report] Rail Gangways Market research report segmented By Product Type (Single Piece Gang...

- Our Clients -

Report Client

- Evaluate How Fact.MR's Report Can Help. -

Is the market research conducted by Fact.MR?

Yes, the report has been compiled by expert analysts of Fact.MR, through a combination of primary and secondary research. To know more about how the research was conducted, you can speak to a research analyst.

What research methodology is followed by Fact.MR?

Fact.MR follows a methodology that encompasses the demand-side assessment of the market, and triangulates the same through a supply-side analysis. This methodology is based on the use of standard market structure, methods, and definitions.

What are the sources of secondary research?

Fact.MR conducts extensive secondary research through proprietary databases, paid databases, and information available in the public domain. We refer to industry associations, company press releases, annual reports, investor presentations, and research papers. More information about desk research is available upon request.

Who are the respondents for primary research?

Fact.MR speaks to stakeholders across the spectrum, including C-level executives, distributors, product manufacturers, and industry experts. For a full list of primary respondents, please reach out to us.

Is a sample of this report available for evaluation?

Yes, you can request a sample, and it will be sent to you through an email.