Tractors Market Forecast, Trend Analysis & Competition Tracking - Global Market insights 2017 to 2026

Published on : Mar-2018 | List of Tables : 131 | List of Figures : 99 | No. of Pages : 170 | Report Code : FACT510MR | Format :

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.

Market Taxonomy

Region

Engine Types

Mechanism Type

Application Type

North America

22 to 25HP

Electric

Utility Tractors

Latin America

25 to 60HP

Hydraulic

Row Crop Tractor

Europe

60 to 140HP

Hybrid

Orchard Type

Japan

140 to 400 HP

 

Industrial Tractor

APEJ

400 to 620 HP

 

Garden Tractor

MEA

   

Rotary Tillers

     

Implement Carrier

     

Earth Moving Tractors

 

(Additional information, including cross-sectional data and country-wise analysis & forecast is available in the report)

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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 and 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.

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Note: The insights mentioned here are of the respective analysts, and do not reflect the position of Fact.MR

Fact.MR’s Holistic Outlook on the Future of Global Tractor Market

An exclusive study by Fact.MR offers in-depth forecast on how the global demand for tractors will evolve in the near future. The study offers estimated valuations on the global tractors market for its forecasted expansion during the period, 2017-2026. By providing objective information, the report caters to key concerns of tractor manufacturers and analyses the impact of latest market trends. From changing guidelines on the development of agricultural equipment and soaring levels of food consumption to advancements in farming techniques and increasing integration of IoT technologies in the operability of heavy fieldwork machineries, a range of factors have been considered for gauging their impact on the growth of global tractors market through 2026. The report serves as a credible business document to tractor manufacturers aiming at extending their global market presence and staying ahead of the competition.

Delivering a Roadmap on Tractor Utility for Next Generations

By employing a collaborative research approach, this study aims to address the key shortcomings inhibiting the sales of tractors. After identifying these concerns, a comprehensive analytical methodology has been incorporated in finding their solutions. Information from individual market players has been procured, wherein individual stake of companies on global tractor sales has been assessed. This information has been quantified and aggregated across multiple parameters. Statistical forecasting techniques and tested market formulations have been exercised in developing accurate forecast on the global tractors market.

The study assesses the impact of government policies, industrial regulations and agricultural loan schemes on the adoption of tractors. With high interest rates on tractor loans being observed as key deterrent for market growth, valuable information on overcoming such impediments is also provided in distinct chapters compiled in this study.

Forecasted market size valuations have been validated through multiple levels of quality checks. By sourcing information from authentic databases, the validity of this information remains unhampered. Data-points procured from such processes have been illustrated in the form of segmental analysis and forecast. From type of engines, mechanism and applications to regional assessment, the global tractors market has been analyzed across multiple segments and sub-segments. Qualitative information reflecting latest market trends has been infused with this data to support the forecast market size estimations. Potential market related statistics, regional diversity in terms of regulations and trade policies, supply chain breakdown and cost structure of tractor manufacturing are also some of the underscored chapters analyzed in this study.

Detailed Assessment of Competitors & Valuable Manufacturing Insights

Companies that have been partaking in the manufacturing of tractors for years, and those that aim to continue being relevant in the future of global tractors market have been profiled in the report. An in-depth competitor analysis of these companies provides information on the strengths and weaknesses in an unbiased manner. Market entry barriers, high profit manufacturing practices, pricing analysis, and latest technological developments have been analyzed to deliver key foresights on the global tractor manufacturing landscape. The scope of this report is to enable tractor manufacturers in capturing untapped opportunities for business development. Inferences provided through the analysis in the report are designed for answering the key concerns of tractor manufacturing companies. Lucrative regions, new technologies and emerging applications have been revealed in the report for improving the understanding of these players towards future market direction.

1 Global Outlook

    1.1 Global Automotive Industry Outlook:

2 Global Tractors Market - Executive Summary

    2.1 Global Tractors Market: Opportunity Analysis

    2.2 Global Tractors Market: Megatrends

3 Global Tractors Market Overview

    3.1 Introduction

        3.1.1 Global Tractors Market Taxonomy

        3.1.2 Global Tractors Market Definition

    3.2 Global Tractors Market Size (US$ Mn & Volume) and Forecast, 2012-2026

        3.2.1 Global Tractors Market Y-o-Y Growth

    3.3 Global Tractors Market Dynamics

        3.3.1 Mechanization of Agricultural Activities Driving the Global Tractor Demand

        3.3.2 Advancement in Tractor Functionality Supporting the Growth of the Global Market

        3.3.3 Ever-Rising Global Demand for Food Boosting Adoption of Agricultural Equipment

        3.3.4 Increased Non-Agricultural Application of Tractor

        3.3.5 Growth of the Agricultural Equipment Industry Creating Opportunities

        3.3.6 Tractor Rental a Major Trend in Third World Countries

        3.3.7 High Cost and Lack of Skilled Labor Continues to Hamper the Adoption Rate

    3.4 Global Agricultural Machinery Market: Macroeconomic Factors and Impact Analysis

    3.5 Growth Opportunities of Tractors and other Agricultural Equipment in Agriculture Sector

    3.6 Impactful Trends Transforming Agriculture to High-Tech Industry

    3.7 Key Challenges and Opportunities

    3.8 Trademap Analysis

        3.8.1 Global Tractors Market: Import Data

        3.8.2 Global Tractors Market: Export Data

    3.9 Technological Road Map

    3.10 Investment Feasible Index

    3.11 Scenario Forecast

    3.12 Forecast Factors

    3.13 Market Competition Structure

    3.14 Supply Chain

    3.15 PESTLE Analysis

    3.16 Porter’s Five Forces Analysis

    3.17 Product Life Cycle

    3.18 Agricultural Machinery Analysis: Comparison (By Mode of Operation)

    3.19 Global Agricultural Machinery Market: Dynamic Developments

    3.20 Key Takeaways

    3.21 Pricing Analysis

    3.22 Global Tractors Market: Regional Key Supplier/ Manufacturer

        3.22.1 North America: Regional Key Supplier/ Manufacturer

        3.22.2 Latin America: Regional Key Supplier/ Manufacturer

        3.22.3 Japan: Regional Key Supplier/ Manufacturer

        3.22.4 APEJ: Regional Key Supplier/ Manufacturer

    3.23 Key Participants Market Presence (Intensity Map) By Region

4 Global Tractors Market Analysis and Forecast 2012-2026

    4.1 Global Tractors Market Size and Forecast By Engine Type, 2012-2026

        4.1.1. 22 to 25HP Market Size and Forecast, 2012-2026

            4.1.1.1 Revenue (US$ Mn) & Volume Comparison, By Region

            4.1.1.2 Market Share Comparison, By Region

            4.1.1.3 Y-o-Y growth Comparison, By Region

        4.1.2. 25 to 60HP Market Size and Forecast, 2012-2026

            4.1.2.1 Revenue (US$ Mn) & Volume Comparison, By Region

            4.1.2.2 Market Share Comparison, By Region

            4.1.2.3 Y-o-Y growth Comparison, By Region

        4.1.3. 60 to 140HP Market Size and Forecast, 2012-2026

            4.1.3.1 Revenue (US$ Mn) & Volume Comparison, By Region

            4.1.3.2 Market Share Comparison, By Region

            4.1.3.3 Y-o-Y growth Comparison, By Region

        4.1.4. 140 to 400 HP Market Size and Forecast, 2012-2026

            4.1.4.1 Revenue (US$ Mn) & Volume Comparison, By Region

            4.1.4.2 Market Share Comparison, By Region

            4.1.4.3 Y-o-Y growth Comparison, By Region

        4.1.5. 400 to 620 HP Market Size and Forecast, 2012-2026

            4.1.5.1 Revenue (US$ Mn) & Volume Comparison, By Region

            4.1.5.2 Market Share Comparison, By Region

            4.1.5.3 Y-o-Y growth Comparison, By Region

    4.2 Global Tractors Market Size and Forecast By Mechanism Type, 2012-2026

        4.2.1 Electric Market Size and Forecast, 2012-2026

            4.2.1.1 Revenue (US$ Mn) & Volume Comparison, By Region

            4.2.1.2 Market Share Comparison, By Region

            4.2.1.3 Y-o-Y growth Comparison, By Region

        4.2.2 Hydraulic Market Size and Forecast, 2012-2026

            4.2.2.1 Revenue (US$ Mn) & Volume Comparison, By Region

            4.2.2.2 Market Share Comparison, By Region

            4.2.2.3 Y-o-Y growth Comparison, By Region

        4.2.3 Hybrid Market Size and Forecast, 2012-2026

            4.2.3.1 Revenue (US$ Mn) & Volume Comparison, By Region

            4.2.3.2 Market Share Comparison, By Region

            4.2.3.3 Y-o-Y growth Comparison, By Region

            4.2.3.4 Global Tractors Market Size and Forecast By Application Type, 2012-2026

        4.2.4 Utility Tractors Market Size and Forecast, 2012-2026

            4.2.4.1 Revenue (US$ Mn) & Volume Comparison, By Region

            4.2.4.2 Market Share Comparison, By Region

            4.2.4.3 Y-o-Y growth Comparison, By Region

        4.2.5 Row Crop Tractor Market Size and Forecast, 2012-2026

            4.2.5.1 Revenue (US$ Mn) & Volume Comparison, By Region

            4.2.5.2 Market Share Comparison, By Region

            4.2.5.3 Y-o-Y growth Comparison, By Region

        4.2.6 Orchard Type Market Size and Forecast, 2012-2026

            4.2.6.1 Revenue (US$ Mn) & Volume Comparison, By Region

            4.2.6.2 Market Share Comparison, By Region

            4.2.6.3 Y-o-Y growth Comparison, By Region

        4.2.7 Industrial Tractor Market Size and Forecast, 2012-2026

            4.2.7.1 Revenue (US$ Mn) & Volume Comparison, By Region

            4.2.7.2 Market Share Comparison, By Region

            4.2.7.3 Y-o-Y growth Comparison, By Region

        4.2.8 Garden Tractor Market Size and Forecast, 2012-2026

            4.2.8.1 Revenue (US$ Mn) & Volume Comparison, By Region

            4.2.8.2 Market Share Comparison, By Region

            4.2.8.3 Y-o-Y growth Comparison, By Region

        4.2.9 Rotary Tillers Market Size and Forecast, 2012-2026

            4.2.9.1 Revenue (US$ Mn) & Volume Comparison, By Region

            4.2.9.2 Market Share Comparison, By Region

            4.2.9.3 Y-o-Y growth Comparison, By Region

        4.2.10 Implement Carrier Market Size and Forecast, 2012-2026

            4.2.10.1 Revenue (US$ Mn) & Volume Comparison, By Region

            4.2.10.2 Market Share Comparison, By Region

            4.2.10.3 Y-o-Y growth Comparison, By Region

        4.2.11 Earth Moving Tractors Market Size and Forecast, 2012-2026

            4.2.11.1 Revenue (US$ Mn) & Volume Comparison, By Region

            4.2.11.2 Market Share Comparison, By Region

            4.2.11.3 Y-o-Y growth Comparison, By Region

5 North America Tractors Market Size and Forecast, 2012-2026

    5.1 North America Outlook

    5.2 North America Automotive Industry Outlook

    5.3 North America Tractors Market Outlook

    5.4 Revenue (US$ Mn) & Volume Comparison, By Country

    5.5 Revenue (US$ Mn) & Volume Comparison, By Engine Type

    5.6 Revenue (US$ Mn) & Volume Comparison, By Mechanism Type

    5.7 Revenue (US$ Mn) & Volume Comparison, By Application Type

6 Latin America Tractors Market Size and Forecast, 2012-2026

    6.1 Latin America Outlook

    6.2 Latin America Automotive Industry Outlook

    6.3 Latin AmericaTractors Market Outlook

    6.4 Revenue (US$ Mn) & Volume Comparison, By Country

    6.5 Revenue (US$ Mn) & Volume Comparison, By Engine Type

    6.6 Revenue (US$ Mn) & Volume Comparison, By Mechanism Type

    6.7 Revenue (US$ Mn) & Volume Comparison, By Application Type

7 Europe Tractors Market Size and Forecast, 2012-2026

    7.1 Europe Outlook

    7.2 Europe Automotive Industry Outlook

    7.3 Europe Tractors Market Outlook

    7.4 Revenue (US$ Mn) & Volume Comparison, By Country

    7.5 Revenue (US$ Mn) & Volume Comparison, By Engine Type

    7.6 Revenue (US$ Mn) & Volume Comparison, By Mechanism Type

    7.7 Revenue (US$ Mn) & Volume Comparison, By Application Type

8 Japan Tractors Market Size and Forecast, 2012-2026

    8.1 Japan Outlook

    8.2 Japan Automotive Industry Outlook

    8.3 Japan Tractors Market Outlook

    8.4 Revenue (US$ Mn) & Volume Comparison

    8.5 Revenue (US$ Mn) & Volume Comparison, By Engine Type

    8.6 Revenue (US$ Mn) & Volume Comparison, By Mechanism Type

    8.7 Revenue (US$ Mn) & Volume Comparison, By Application Type

9 APEJ Tractors Market Size and Forecast, 2012-2026

    9.1 APEJ Outlook

    9.2 APEJ Automotive Industry Outlook

    9.3 APEJ Tractors Market Outlook

    9.4 Revenue (US$ Mn) & Volume Comparison, By Country

    9.5 Revenue (US$ Mn) & Volume Comparison, By Engine Type

    9.6 Revenue (US$ Mn) & Volume Comparison, By Mechanism Type

    9.7 Revenue (US$ Mn) & Volume Comparison, By Application Type

10 MEA Tractors Market Size and Forecast, 2012-2026

    10.1 MEA Outlook

    10.2 MEA Automotive Industry Outlook

    10.3 MEA Tractors Market Outlook

    10.4 Revenue (US$ Mn) & Volume Comparison, By Country

    10.5 Revenue (US$ Mn) & Volume Comparison, By Engine Type

    10.6 Revenue (US$ Mn) & Volume Comparison, By Mechanism Type

    10.7 Revenue (US$ Mn) & Volume Comparison, By Application Type

11 Global Tractors Market Company Share Analysis, Competition Landscape and Company Profiles

    11.1 Global Tractors Market: Company Share Analysis

    11.2 Global Tractors Market: Competitive Landscape

    11.3 Global Tractors Market: Company Profiles

        11.3.1 Caterpillar Inc.

            11.3.1.1 Company Overview

            11.3.1.2 Product Overview

            11.3.1.3 Key Financials

            11.3.1.4 Key Developments

            11.3.1.5 SWOT Analysis

        11.3.2 Deere & Co.

            11.3.2.1 Company Overview

            11.3.2.2 Product Overview

            11.3.2.3 Key Financials

            11.3.2.4 Key Developments

            11.3.2.5 SWOT Analysis

        11.3.3 Mahindra & Mahindra Limited

            11.3.3.1 Company Overview

            11.3.3.2 Product Overview

            11.3.3.3 Key Financials

            11.3.3.4 Key developments

            11.3.3.5 S.W.O.T Analysis

        11.3.4 KUBOTA Corporation

            11.3.4.1 Company Overview

            11.3.4.2 Product Overview

            11.3.4.3 Key Financials

            11.3.4.4 SWOT Analysis

        11.3.5 AGCO Corporation

            11.3.5.1 Company Overview

            11.3.5.2 Product Overview

            11.3.5.3 Key Financials

            11.3.5.4 Key developments

            11.3.5.5 S.W.O.T Analysis

        11.3.6 Yanmar Co., Ltd.

            11.3.6.1 Company Overview

            11.3.6.2 Product Overview

            11.3.6.3 Key Developments

            11.3.6.4 SWOT Analysis

        11.3.7 New Holland

            11.3.7.1 Company Overview

            11.3.7.2 Product Overview

            11.3.7.3 Key Financials

            11.3.7.4 Key Developments

            11.3.7.5 SWOT Analysis

        11.3.8 Doosan Bobcat Inc

            11.3.8.1 Company Overview

            11.3.8.2 Product Overview

            11.3.8.3 Key Financials

        11.3.9 CLAAS

            11.3.9.1 Company Overview

            11.3.9.2 Product Overview

            11.3.9.3 Key Developments

        11.3.10 Escorts Limited

            11.3.10.1 Company Overview

            11.3.10.2 Product Overview

            11.3.10.3 Key Financials

        11.3.11 ARGO Tractors

            11.3.11.1 Company Overview

            11.3.11.2 Product Overview

        11.3.12 JCB, Inc.

            11.3.12.1 Company Overview

            11.3.12.2 Product Overview

        11.3.13 Tractors and Farm Equipment Limited

            11.3.13.1 Company Overview

        11.3.14 KIOTI Tractor

            11.3.14.1 Company Overview

            11.3.14.2 Product Overview

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Tractors Market Forecast, Trend Analysis & Competition Tracking - Global Market insights 2017 to 2026