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Agricultural Tractor Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2031)

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The "Agricultural Tractor Market" is focused on controlling cost, and improving efficiency. Moreover, the reports offer both the demand and supply aspects of the market. The Agricultural Tractor market is expected to grow annually by 5.20% (CAGR 2024 - 2031).

This entire report is of 182 pages.

Agricultural Tractor Introduction and its Market Analysis

Agricultural Tractors are vehicles used in farming for various tasks such as plowing, tilling, planting, and harvesting. The global Agricultural Tractor market is expected to witness significant growth due to increasing demand for food production and mechanization in agriculture. Major factors driving revenue growth include technological advancements, increasing farm sizes, and government support. Key players in the market include Deere, New Holland, Kubota, Mahindra, and more. The market analysis highlights competitive strategies, market share, and product offerings of these companies. The report recommends focusing on product innovation, expanding market presence, and strategic partnerships to accelerate growth in the Agricultural Tractor market.

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The Agricultural Tractor market is segmented into four categories based on power output- Below 10 KW, 10-30 KW, 30-50 KW, and Above 50 KW, with applications ranging from farm work to orchard and forest farming. Each segment caters to specific needs and requirements of farmers, ensuring optimal performance in various agricultural settings. Regulatory and legal factors play a crucial role in shaping the market conditions for these tractors. Strict emission standards, safety regulations, and subsidies for eco-friendly tractor technologies are key factors that influence the market dynamics. It is important for manufacturers and farmers to stay updated on these regulations to ensure compliance and sustainable operations in the Agricultural Tractor market.

Top Featured Companies Dominating the Global Agricultural Tractor Market

The global agricultural tractor market is highly competitive with several key players operating in the industry. Some of the major companies in the agricultural tractor market include Deere, New Holland, Kubota, Mahindra, Kioti, CHALLENGER, AGCO, Claas, CASEIH, JCB, AgriArgo, Same Deutz-Fahr, Tillers, Ferrari, Earth Tools, Grillo spa, and Zetor.

These companies offer a wide range of agricultural tractors with varying horsepower capabilities and features to cater to the diverse needs of farmers globally. They use innovative technology, research, and development to continuously improve their product offerings, making them more efficient and productive for farmers.

Deere, for example, is known for its advanced technology and precision agriculture solutions, which help farmers optimize their operations and increase productivity. New Holland is recognized for its extensive product range and focus on sustainable agriculture practices. Kubota is popular for its compact and versatile tractors suitable for small farms.

Mahindra, being a market leader in India, offers robust and reliable tractors that cater to the needs of farmers in the country. Kioti focuses on providing high-quality tractors at competitive prices, making it a popular choice for many farmers. AGCO offers a diverse range of tractors and is known for its strong dealer network and customer support services.

In terms of sales revenue, Deere reported a revenue of $35.5 billion in 2020, while AGCO reported a revenue of $9.1 billion in the same year. These companies contribute significantly to the growth of the agricultural tractor market by providing innovative solutions, expanding their product range, and offering excellent customer support services. Their continuous efforts help drive the adoption of modern agricultural practices and boost farm productivity worldwide.

  • Deere
  • New Holland
  • Kubota
  • Mahindra
  • Kioti
  • CHALLENGER
  • AGCO
  • Claas
  • CASEIH
  • JCB
  • AgriArgo
  • Same Deutz-Fahr
  • V.S.T Tillers
  • Ferrari
  • Earth Tools
  • Grillo spa
  • Zetor

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Agricultural Tractor Market Analysis, by Type:

  • Below 10 KW
  • 10-30 KW
  • 30-50KW
  • Above 50 KW

Agricultural tractors are categorized based on their engine power, with options below 10 kW, 10-30 kW, 30-50 kW, and above 50 kW. Tractors with lower power (below 30 kW) are suitable for small-scale farming operations, while those with higher power (above 50 kW) are preferred for larger farms and more demanding tasks. The variety in power options allows farmers to choose the right tractor for their specific needs, leading to increased demand in the agricultural tractor market. This diversification also helps manufacturers cater to a wider range of customers, driving growth in the industry.

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Agricultural Tractor Market Analysis, by Application:

  • Farm
  • Orchard
  • Forest Farm
  • Other

The application of agricultural tractors includes use in farms for plowing, planting, and harvesting, in orchards for maintenance and harvesting of fruits, in forests for logging and land clearing, and in other areas for various tasks like landscaping and construction. Agricultural tractors are used in these applications for their ability to tow or operate various implements like plows, mowers, and sprayers, thus increasing efficiency and productivity. The fastest growing application segment in terms of revenue is likely in the forestry sector, as the demand for land clearing and logging activities continues to rise due to increasing urbanization and industrialization.

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Agricultural Tractor Industry Growth Analysis, by Geography:

North America:

  • United States
  • Canada

Europe:

  • Germany
  • France
  • U.K.
  • Italy
  • Russia

Asia-Pacific:

  • China
  • Japan
  • South Korea
  • India
  • Australia
  • China Taiwan
  • Indonesia
  • Thailand
  • Malaysia

Latin America:

  • Mexico
  • Brazil
  • Argentina Korea
  • Colombia

Middle East & Africa:

  • Turkey
  • Saudi
  • Arabia
  • UAE
  • Korea

The agricultural tractor market is expected to witness significant growth in regions such as North America (United States, Canada), Europe (Germany, France, ., Italy, Russia), Asia-Pacific (China, Japan, South Korea, India, Australia, Indonesia, Thailand, Malaysia), Latin America (Mexico, Brazil, Argentina, Colombia), and Middle East & Africa (Turkey, Saudi Arabia, UAE). Among these regions, Asia-Pacific is expected to dominate the market with a market share of around 40%, followed by Europe with a market share of approximately 30%. North America and Latin America are projected to account for around 20% and 10% of the market share, respectively.

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