“The Global Agriculture Tractors Market is expected to grow at a CAGR of 6% during the forecasting period (2021-2028)”.
The agricultural tractor is majorly used in farming activities. These agriculture tractors are used in each natural and nonorganic farming. Most mechanized agricultural operations encompass a tractor as a primary strength unit globally. Nearly all modern-day tractors utilized in business agriculture are powered with diesel fuel.
Growing call for meals plants associated with a boom in installations of advanced agriculture equipment are elements riding the worldwide agriculture tractor marketplace in the latest years. The rise in the local calls for food products and the increase inside the local populace has strongly motivated the marketplace situation of the rural tractor machinery marketplace globally. The marketplace is predicted to have a continued boom inside the forecast period. Owing to the need to boom in yield and boom in cultivation activities in constrained arable land.
An increase in tractors registrations in advanced nations related to growing spending with the aid of the farmers across the globe are the factors moreover contributing to the boom of the market. According to the Data Published in Agri evolution in 2018, the once-a-year income of tractors globally multiplied from 1.903 million devices in 2016 to 2.153 million gadgets in 2017 with an annual growth rate of 13%.
High operational fees and massive charges of agriculture tractors are the essential restraints hampering the boom of the marketplace global.
By Horse Powers
Below 40 HP
41 HP to 99 HP
100 HP to 150 HP
More than 150 HP
4 Wheel Drive (4WD)
2 Wheel Drive (2WD)
By Tractor Type
Geographically, the market is segmented into North America, South America, Europe, Asia Pacific, and Middle East & Africa.
The United Kingdom is expected to dominate the European agriculture tractor market due to high agriculture wages, wide presence of agricultural farms in the region. According to the UK agriculture department in 2019, the utilization of agriculture area in the UK increased from 17,476 Hectares in 2017 to 17,521 Hectares in 2018, giving equal market growth for agriculture tractors and equipment. According to the data published in the AEA association in 2019, the annual registrations of UK agriculture tractors (> 50 HP) increased from 12,033 units in 2017 to 12,102 units in 2018. Some of the key players in the European Agriculture tractors market include John Deere UK & IE, JCB, and Kubota.
The global Agriculture tractors market is fragmented with various small and large players present globally. Some of the major market players are Mahindra & Mahindra Ltd, TAFE, Kubota Corporation, JCB, Iseki & Co. Ltd, Yanmar Co, Claas Group, Deere & Company, CNH Industrial NV, and Massey Ferguson Limited
Companies are focusing to launch new products globally due to the high demand from different applications.
For instance, In November 2017, Case IH extended its Puma tractor line, the Puma 155 ROPS (with a maximum output of 161 hp) and the Puma 185 ROPS (producing a maximum of 197 hp). Both vehicles are being introduced in response to demand for more powerful tractors with an open deck, a canopy, and a rollover protective structure (ROPS).
In September 2018, Escorts announced that they are about to lunch driverless tractors and other agrotech products. The new tractors are able to farm on their own while empowering farmers and maximizing output. Escorts has tied up with seven technology majors—Microsoft, Reliance Jio, Trimble, Samvardhana Motherson Group, WABCO, AVL, and BOSCH—for developing its innovative farming solutions.