Agricultural Tractors Market by Engine Capacity, Product, and Geography - Forecast and Analysis 2021-2025

  • Published: Apr 2021
  • Pages: 120
  • SKU: IRTNTR40891

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The agricultural tractor market has the potential to grow by 147.94 thousand units during 2021-2025, and the market’s growth momentum will accelerate at a CAGR of 1.91%.

This agricultural tractor market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers market segmentation by engine capacity (low power, mid power, and high power), product (all-wheel drive and two-wheel drive), and geography (APAC, Europe, North America, MEA, and South America). The agricultural tractor market report also offers information on several market vendors, including AGCO Corp., CLAAS KGaA mbH, CNH Industrial NV, Deere & Co., Escorts Ltd., J C Bamford Excavators Ltd., Kubota Corp., Mahindra & Mahindra Ltd., Tractors and Farm Equipment Ltd., and Yanmar Holdings Co. Ltd. among others.

What will the Agricultural Tractor Market Size be in 2021?

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Agricultural Tractor Market: Key Drivers and Trends

Based on our research output, there has been a negative impact on the market growth during and post COVID-19 era. The introduction of driverless agricultural tractors is notably driving the agricultural tractor market growth, although factors such as high upfront cost may impede market growth. To unlock information on the key market drivers and the COVID-19 pandemic impact on the agricultural tractor industry get your FREE report sample now.

  • The introduction of driverless agricultural tractors will be a significant factor driving the agricultural tractors market growth.
  • The increasing focus on technological innovations has helped several leading companies to develop various versions of driverless agricultural tractors.
  • Robotic tractors developed by Yanmar, in collaboration with Hokkaido University, have in-built sensors that identify obstacles and prevent collisions. The speed of the tractor is optimized by an engine control unit (ECU) based on the operating conditions. Similarly, Autonomous Concept Vehicle developed by CASE IH includes technologies such as GPS trackers, radars, and cameras and can be operated and programmed using a table interface.
  • The rising popularity of driverless tractors has also driven several startups, such as AutoNxt Automation Pvt Ltd, to invest in such ventures.
  • The increasing availability of agricultural tractors with improved features, which is one of the critical agricultural tractors market trends, will help in addressing various problems of farmers and increasing productivity with minimum inputs and cost-efficiency.
  • Leading vendors are increasingly focusing on R&D and the development of new product designs to gain a competitive edge over their rivals.
  • 9RX Series Tractor offered by Deere & Company has improved features such as parallel plane four-bar-linkage cab suspension that allows a smooth ride and eliminates unwanted bumps and vibrations.
  • Semi-autonomous Novo 65 HP & 75 HP tractors developed by Mahindra & Mahindra are integrated with new technology and ergonomics.
  • MAJOR HS80, offered by ZETOR, has innovative features such as enhanced operator’s view from the cabin and new locations of the lights illuminating a larger working area.

This agricultural tractor market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. Get detailed insights on the trends and challenges, which will help companies evaluate and develop growth strategies.

Who are the Major Agricultural Tractor Market Vendors?

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

 

  • AGCO Corp.
  • CLAAS KGaA mbH
  • CNH Industrial NV
  • Deere & Co.
  • Escorts Ltd.
  • J C Bamford Excavators Ltd.
  • Kubota Corp.
  • Mahindra & Mahindra Ltd.
  • Tractors and Farm Equipment Ltd.
  • Yanmar Holdings Co. Ltd.

 

The agricultural tractor market is concentrated and the vendors are deploying growth strategies such as differentiating their product offerings through a clear and unique value proposition to compete in the market. Click here to uncover other successful business strategies deployed by the vendors. 

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

Download a free sample of the agricultural tractor market forecast report for insights on complete key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies. 

Which are the Key Regions for Agricultural Tractor Market?

Agricultural-Tractor-Market-Market-Share-by-Region-2020-2025

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74% of the market’s growth will originate from APAC during the forecast period. India and China are the key markets for agricultural tractors in APAC. Market growth in APAC will be faster than the growth of the market in other regions.

The high focus on increasing farm yields and productivity will facilitate the agricultural tractor market growth in APAC over the forecast period. To garner further competitive intelligence and regional opportunities in store for vendors, view our sample report.

What are the Revenue-generating Engine Capacity Segments in the Agricultural Tractor Market?

Agricultural-Tractor-Market-Market-Share-by-Engine Capacity-2020-2025

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The agricultural tractor market share growth by the low power segment will be significant during the forecast period. The high fuel efficiency offered by low-power agricultural tractors has boosted their popularity among small and mid-sized farmers. The demand for low-powered agricultural tractors is especially high in regions with fragmented pieces of agricultural land.

Fetch actionable market insights on post COVID-19 impact on each segment. This report provides an accurate prediction of the contribution of all the segments to the growth of the agricultural tractor market size.

 

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What are the Key Factors Covered in this Agricultural Tractor Market Report?

  • CAGR of the market during the forecast period 2021-2025
  • Detailed information on factors that will drive agricultural tractor market growth during the next five years
  • Precise estimation of the agricultural tractor market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the agricultural tractor industry across APAC, Europe, North America, MEA, and South America
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of agricultural tractor market vendors

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Research Framework

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

INFORMATION SOURCES

Primary sources

  • Manufacturers and suppliers
  • Channel partners
  • Industry experts
  • Strategic decision makers

Secondary sources

  • Industry journals and periodicals
  • Government data
  • Financial reports of key industry players
  • Historical data
  • Press releases

DATA ANALYSIS

Data Synthesis

  • Collation of data
  • Estimation of key figures
  • Analysis of derived insights

Data Validation

  • Triangulation with data models
  • Reference against proprietary databases
  • Corroboration with industry experts

REPORT WRITING

Qualitative

  • Market drivers
  • Market challenges
  • Market trends
  • Five forces analysis

Quantitative

  • Market size and forecast
  • Market segmentation
  • Geographical insights
  • Competitive landscape
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The agricultural tractor market growth will increase by $481.84 thousand units during 2019-2024.
The agricultural tractor market is expected to grow at a CAGR of 3.68% during 2019-2024.
Technavio has segmented the agricultural tractor market by product (Strip exercise resistance bands and Tube exercise resistance bands) and geographic (APAC, North America, Europe, South America, and MEA).
AGCO Corp., Alamo Group Inc., CLAAS KGaA mbH, CNH Industrial NV, Deere & Co., J.C. Bamford Excavators Ltd., Kubota Corp., Mahindra & Mahindra Ltd., Tractors and Farm Equipment Ltd., Yanmar Co. Ltd. are a few of the key vendors in the agricultural tractor market.
APAC will register the highest growth rate of 71.65% among the other regions. Therefore, the agricultural tractor market in APAC is expected to garner significant business opportunities for the vendors during the forecast period.
The key factors driving the agricultural tractor market growth are:
  • Introduction of driverless agricultural tractors
  • Increase in M&A activities
The agricultural tractor market vendors should focus on grabbing business opportunities from the strip exercise resistance bands segment as it accounted for the largest market share in the base year.

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