The global sales of agricultural tractors will likely garner a market value of US$ 63 Mn in 2022 and is expected to register a CAGR of 6% by accumulating a market value of US$ 113 Mn through the assessment period 2022-2032. Increase in demand for food has burdened the agriculture industry across the globe. Thus, to escalate the production rate, farmers are relying on agricultural tractors for sowing, ploughing and spraying. Furthermore, improving mechanization in tractors is rapidly growing the adoption of the same.
The offer in this portion accompanies many open doors including fabricating items, appropriation, retail, and showcasing administrations. Broad rounds of essential and far-reaching optional exploration have been utilized by the examiners at Fact.MR to show up at different assessments and projections for Demand of Agricultural Tractors Market both at worldwide and provincial levels.
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Market Players: –
- CNH Industrial N.V.
- Deere & Company
- Kubota Corp.
- International Tractors Ltd.
- CLAAS KGaA
- Escorts Ltd.
- Mahindra & Mahindra Ltd.
- AGCO Corp.
- Yanmar Co., Ltd.
- Tractors and Farm Equipment Ltd.
Competitive Landscape
- In January 2022, Deere & Company revealed a fully autonomous tractor that is ready for large scale production. The tractor consists of GPS system, advanced technologies and Tru-Set enabled chisel plow. Furthermore, the tractor is expected to be available in the market by the end of 2022.
- In January 2022, Deere & Company received eight AE50 awards for innovative product engineering from ASABE. The company is focusing on increasing efficiency of its wide range products that would provide instant results.
Key Segments Covered in the Agricultural Tractors Industry Report
- By Engine Power
- Agricultural Tractors Less than 40 HP
- Agricultural Tractors between 41 to 100 HP
- Agricultural Tractors More than 100 HP
- By Driveline Type
- 2WD Agricultural Tractors
- 4WD Agricultural Tractors
Regional analysis includes
- North America (U.S., Canada)
- Latin America (Brazil, Mexico, Argentina, Chile, Peru, Rest of LATAM)
- EU – (Germany, France, Italy, Spain), UK, BENELUX (Belgium, Netherlands, Luxemburg), NORDIC (Norway, Denmark, Iceland, Sweden), Eastern Europe (Poland, Ukraine, Czech Rep. etc.), Rest of Europe
- CIS & Russia
- Japan
- Asia Pacific Excluding Japan (Greater China, India, S. Korea, ASEAN Countries, Rest of APEJ)
Trends of Agricultural Tractors Market
- Precision Agriculture Integration: Agricultural tractors were becoming increasingly equipped with precision farming technologies such as GPS, sensors, and data analytics. This integration allowed for more accurate planting, fertilizing, and harvesting, leading to improved efficiency and reduced resource wastage.
- Sustainability and Efficiency: There was a growing emphasis on sustainable agriculture. Many tractor manufacturers were focusing on producing more fuel-efficient and environmentally friendly models. Electric and hybrid tractors were also being explored as a way to reduce emissions and operational costs.
- Autonomous and Semi-Autonomous Tractors: The development of autonomous and semi-autonomous tractors was a significant trend. These tractors could operate without direct human control, enhancing operational efficiency, reducing labor requirements, and optimizing field operations.
- Digital Connectivity and IoT: Tractors were being equipped with IoT technology to enable real-time monitoring and control. This connectivity allowed farmers to remotely track the performance of their tractors, receive alerts for maintenance needs, and optimize routes and work patterns.
- Customization and Modularity: Tractor manufacturers were offering more customization options, allowing farmers to choose specifications that fit their specific needs. Modular designs allowed for easy attachment of various implements and tools, enhancing versatility.