Farm Tractors Market: Information by Design Type (Orchard Tractors, Row-Crop Tractors), Horse Power, Drive Type (Two-Wheeler Drive), System Type, and Region — Forecast till 2029

Nov 25, 2020   Market Overview Farm tractor is an engineering vehicle that is specifically designed to deliver high torque at slow speeds. The farm tractor market is expected to grow at a steady pace, owing to the advancements in tractor technology and rising innovations in the field. Increasing governmental investment in the agriculture sector to enhance the production of food crops provides an impetus to the market growth. The debouching trend of mechanization is surfacing in all sectors across the globe, ...
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Market Overview

Farm tractor is an engineering vehicle that is specifically designed to deliver high torque at slow speeds. The farm tractor market is expected to grow at a steady pace, owing to the advancements in tractor technology and rising innovations in the field. Increasing governmental investment in the agriculture sector to enhance the production of food crops provides an impetus to the market growth.

The debouching trend of mechanization is surfacing in all sectors across the globe, owing to the shortage of skilled labor force, increasing labor cost, rising import and export of cereals, and surging demand for productivity and operational efficiency. Mechanization has improved the efficiency of farm work, such as harvesting, plowing, digging, and reduced the workforce. Farm tractor helps in the loading/unloading of agricultural products and transportation of various crops, and has significantly reduced the usage of animals in agriculture.

Farm Tractors Market: Segmentation

Compact Size and Low Cost of Low Horse Power Farm Tractors to Drive Its Adoption in the Developing Economies

The less than 40 hp segment holds the highest market share on account of their compact size, low cost, and benefits related to all the general agricultural activities. The adoption of low horsepower farm tractors in the developing economies is expected to rise in the coming future. The 41–99 hp segments is expected to show substantial growth during the forecast period, owing to its increasing demand in the developed regions, such as Europe and North America. China and India are the largest users of 41–99 hp farm tractors due to the increasing population and rising food requirements. 

Versatile Features of Four Wheeler Drive to Surge Its Adoption during the Forecast Period

The four-wheeler drive segment dominates the market during the forecast period.The four-wheeler drive tractor has a dynamic movement of all four wheels, which makes them versatile and perfect for all the tasks performed in agriculture farming. It also has better traction to the ground than the two-wheeler drive tractor, which is why it is extensively used for tilling, livestock operations, crop protection, mowing, slashing, haulage, and loader applications. Thus, the four-wheel-drive tractor is witnessing a significant surge in demand in the developing regions. The two-wheeler drive, on the other hand, is projected to witness high demand in the developing and underdeveloped economies, such as India, China, Ghana, and Nigeria, among others, owing to its lower price.

Regional Overview

India to Spearhead Asia-Pacific’s Farm Tractor Market

Asia-Pacific leads the farm tractors market and is projected to continue the same during the forecast period as agriculture is the prime source of income, and plays a crucial role in increasing the region’s agricultural output. India is the leading contributor to the regional farm tractor market. As per the Food and Agriculture Organization (FAO), India is the world’s largest producer of pulses and jute. It is the second-largest producer of vegetables, fruit, cotton, groundnut, sugarcane, wheat, and rice. Moreover, it is one of the leading producers of plantation crops, spices, poultry, fish, and livestock.

As per the FAO data in India, agriculture accounted for 23% of the total GDP and employed around 59% of the country’s total workforce in 2016.As per the Tractor Manufacturing Association (TMA), the total sales of tractors in India in 2019 was 878,476 units, up by 10.24% from 796,873 in 2018. Moreover, Deere & Company announced that most of the company’s tractors that are used in the U.S. are manufactured in India. Asia-Pacific held around 65% share in the farm tractors market in 2019 in terms of volume.

Europe’s Farm Tractors Market to Be Backed by the Presence of Massive Agricultural Lands

Europe is expected to be the second-largest market for farm tractors, owing to the large agricultural lands in various European countries, such as Spain, Denmark, Hungary, and the Netherlands, among others. European farms cover around 38% of the total land area. Moreover, the European Agricultural Machinery Industry Association has mandated the lighting and braking features in all the tractors introduced on January 1, 2018. These mandates are anticipated to propel the regional farm tractor market growth over the forecast period. Moreover, the presence of leading manufacturers of farm tractors, such as CNH Industrial and CLAAS KGaA mbH, fosters regional market growth.

Key Players

  • John Deere
  • AGCO Corporation
  • CNH Industrial
  • CLAAS (Germany)
  • Kubota (Japan)
  • Mahindra & Mahindra (India)
  • SPF Group (Italy)
  • J C Bamford Excavators
  • Iseki (Japan)

Recent Developments

  • In 2016, Case IH unveiled its autonomous concept tractor and is performing extensive research on autonomous technology
  • On November 1, 2018, CNH Industrial, one of the leading farm machinery manufacturers, announced a strategic digital agriculture partnership with Farmers Edge
  • In 2018, KUBOTA Corporation declared plans of investing around USD 65 million in its new R&D center for tractors in Europe

Farm Tractors Market: Segmentation

By Design Type

  • Orchard Tractors
  • Row-Crop Tractors

By Horse Power

  • Less than 40 HP
  • 40–99 HP
  • 100–150 HP
  • 151–200 HP
  • 201–270 HP
  • 271–350 HP
  • 350 HP and above

By Drive Type

  • Two-Wheeler Drive
  • Four-Wheeler Drive

By System Type

  • Without Loaders
  • Front Loaders
  • Backhoe Loaders

By Region

North America

  • The U.S.
  • Canada
  • Mexico

Europe

  • Germany
  • France
  • The U.K.
  • Italy
  • Spain
  • The Netherlands
  • Russia
  • The Rest of Europe

Asia-Pacific

  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Malaysia
  • Singapore
  • Vietnam
  • The Rest of Asia-Pacific

Central and South America and the Caribbean

  • Brazil
  • Argentina
  • Colombia
  • The Rest of Central and South America and the Caribbean

The Middle East

  • Saudi Arabia
  • The UAE
  • Oman
  • Bahrain
  • The Rest of the Middle East

Africa

  • Nigeria
  • South Africa
  • Ghana
  • Tanzania
  • The Rest of Africa

Frequently Asked Questions (FAQs)

Four-Wheeler Drive Segment is expected to be the leading segment in Farm Tractors Market during the forecast period.
John Deere, AGCO Corporation, CNH Industrial, CLAAS, Kubota, Mahindra & Mahindra, SPF Group, J C Bamford Excavators, Iseki are the top players in Farm Tractors Market.
Asia-Pacific is expected to hold the highest market share in Farm Tractors Market.
Increasing labor cost, rising import and export of cereals, and surging demand for productivity and operational efficiency are the key factors expected to drive Farm Tractors Market during the forecast period.
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Market Overview

Farm tractor is an engineering vehicle that is specifically designed to deliver high torque at slow speeds. The farm tractor market is expected to grow at a steady pace, owing to the advancements in tractor technology and rising innovations in the field. Increasing governmental investment in the agriculture sector to enhance the production of food crops provides an impetus to the market growth.

The debouching trend of mechanization is surfacing in all sectors across the globe, owing to the shortage of skilled labor force, increasing labor cost, rising import and export of cereals, and surging demand for productivity and operational efficiency. Mechanization has improved the efficiency of farm work, such as harvesting, plowing, digging, and reduced the workforce. Farm tractor helps in the loading/unloading of agricultural products and transportation of various crops, and has significantly reduced the usage of animals in agriculture.

Farm Tractors Market: Segmentation

Compact Size and Low Cost of Low Horse Power Farm Tractors to Drive Its Adoption in the Developing Economies

The less than 40 hp segment holds the highest market share on account of their compact size, low cost, and benefits related to all the general agricultural activities. The adoption of low horsepower farm tractors in the developing economies is expected to rise in the coming future. The 41–99 hp segments is expected to show substantial growth during the forecast period, owing to its increasing demand in the developed regions, such as Europe and North America. China and India are the largest users of 41–99 hp farm tractors due to the increasing population and rising food requirements. 

Versatile Features of Four Wheeler Drive to Surge Its Adoption during the Forecast Period

The four-wheeler drive segment dominates the market during the forecast period.The four-wheeler drive tractor has a dynamic movement of all four wheels, which makes them versatile and perfect for all the tasks performed in agriculture farming. It also has better traction to the ground than the two-wheeler drive tractor, which is why it is extensively used for tilling, livestock operations, crop protection, mowing, slashing, haulage, and loader applications. Thus, the four-wheel-drive tractor is witnessing a significant surge in demand in the developing regions. The two-wheeler drive, on the other hand, is projected to witness high demand in the developing and underdeveloped economies, such as India, China, Ghana, and Nigeria, among others, owing to its lower price.

Regional Overview

India to Spearhead Asia-Pacific’s Farm Tractor Market

Asia-Pacific leads the farm tractors market and is projected to continue the same during the forecast period as agriculture is the prime source of income, and plays a crucial role in increasing the region’s agricultural output. India is the leading contributor to the regional farm tractor market. As per the Food and Agriculture Organization (FAO), India is the world’s largest producer of pulses and jute. It is the second-largest producer of vegetables, fruit, cotton, groundnut, sugarcane, wheat, and rice. Moreover, it is one of the leading producers of plantation crops, spices, poultry, fish, and livestock.

As per the FAO data in India, agriculture accounted for 23% of the total GDP and employed around 59% of the country’s total workforce in 2016.As per the Tractor Manufacturing Association (TMA), the total sales of tractors in India in 2019 was 878,476 units, up by 10.24% from 796,873 in 2018. Moreover, Deere & Company announced that most of the company’s tractors that are used in the U.S. are manufactured in India. Asia-Pacific held around 65% share in the farm tractors market in 2019 in terms of volume.

Europe’s Farm Tractors Market to Be Backed by the Presence of Massive Agricultural Lands

Europe is expected to be the second-largest market for farm tractors, owing to the large agricultural lands in various European countries, such as Spain, Denmark, Hungary, and the Netherlands, among others. European farms cover around 38% of the total land area. Moreover, the European Agricultural Machinery Industry Association has mandated the lighting and braking features in all the tractors introduced on January 1, 2018. These mandates are anticipated to propel the regional farm tractor market growth over the forecast period. Moreover, the presence of leading manufacturers of farm tractors, such as CNH Industrial and CLAAS KGaA mbH, fosters regional market growth.

Key Players

  • John Deere
  • AGCO Corporation
  • CNH Industrial
  • CLAAS (Germany)
  • Kubota (Japan)
  • Mahindra & Mahindra (India)
  • SPF Group (Italy)
  • J C Bamford Excavators
  • Iseki (Japan)

Recent Developments

  • In 2016, Case IH unveiled its autonomous concept tractor and is performing extensive research on autonomous technology
  • On November 1, 2018, CNH Industrial, one of the leading farm machinery manufacturers, announced a strategic digital agriculture partnership with Farmers Edge
  • In 2018, KUBOTA Corporation declared plans of investing around USD 65 million in its new R&D center for tractors in Europe

Farm Tractors Market: Segmentation

By Design Type

  • Orchard Tractors
  • Row-Crop Tractors

By Horse Power

  • Less than 40 HP
  • 40–99 HP
  • 100–150 HP
  • 151–200 HP
  • 201–270 HP
  • 271–350 HP
  • 350 HP and above

By Drive Type

  • Two-Wheeler Drive
  • Four-Wheeler Drive

By System Type

  • Without Loaders
  • Front Loaders
  • Backhoe Loaders

By Region

North America

  • The U.S.
  • Canada
  • Mexico

Europe

  • Germany
  • France
  • The U.K.
  • Italy
  • Spain
  • The Netherlands
  • Russia
  • The Rest of Europe

Asia-Pacific

  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Malaysia
  • Singapore
  • Vietnam
  • The Rest of Asia-Pacific

Central and South America and the Caribbean

  • Brazil
  • Argentina
  • Colombia
  • The Rest of Central and South America and the Caribbean

The Middle East

  • Saudi Arabia
  • The UAE
  • Oman
  • Bahrain
  • The Rest of the Middle East

Africa

  • Nigeria
  • South Africa
  • Ghana
  • Tanzania
  • The Rest of Africa

Frequently Asked Questions (FAQs)

Four-Wheeler Drive Segment is expected to be the leading segment in Farm Tractors Market during the forecast period.
John Deere, AGCO Corporation, CNH Industrial, CLAAS, Kubota, Mahindra & Mahindra, SPF Group, J C Bamford Excavators, Iseki are the top players in Farm Tractors Market.
Asia-Pacific is expected to hold the highest market share in Farm Tractors Market.
Increasing labor cost, rising import and export of cereals, and surging demand for productivity and operational efficiency are the key factors expected to drive Farm Tractors Market during the forecast period.
We will send you an email with login credentials to access the report. You will also be able to download the pdf.
Basically, choose Pay by Purchase Order when you are checking out. We will connect with you via email to set up your order.
Call us, email us, or chat with us! We encourage your questions and feedback. We have a research concierge team available at all times and included in every purchase.