Market Overview 2021-2026:
The global tractor market is expected to grow at a CAGR of around 5% during 2021-2026. A tractor refers to a specifically engineered vehicle designed for providing high torque at a slow speed. Tractors are mainly used in the agriculture sector for plowing, tilling, harrowing, disking, and planting. Apart from this, they are also used for load carriage, earthmoving, and building activities in the construction industry. Some of the key factors driving the global demand for tractors include rising labour costs, increasing consumption of plant-based food products, rising rural incomes, government incentives, seasonal labour shortages, etc.
Global Tractor Market Trends and Drivers:
The introduction of precision farming along with the rising adoption of farm mechanization to increase productivity is also bolstering the demand for tractors. The tractor market is further being driven by the rising number of farm training programs promoting the use of agricultural machinery on a large scale. Additionally, governments across several developing countries are also providing subsidies and financial assistance to facilitate the automation of various agricultural processes. Apart from this, the rising number of building and construction projects is also augmenting the demand for tractors in the construction sector. Furthermore, various technological advancements have led to the emergence of advanced tractors with pre-installed GPS and telematics devices. The growing popularity of automated commercial vehicles along with the high penetration of wireless connectivity for remote monitoring is also expected to drive the global tractor market.
The COVID-19 pandemic outbreak in early 2020, however, has negatively impacted the global tractor market as several construction and agricultural activities came to a halt. Additionally, the production facilities manufacturing tractors were also temporarily shut down across the globe disrupting the supply chains. The global tractor market, however, is expected to recover from 2021 onwards and grow moderately in the coming years.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global tractor market report, along with forecasts for growth at the global, regional and country level from 2021-2026. Our report has categorized the market based on power output, drive type and application.
Breakup by Power Output:
- Below 40 HP
- 40 HP - 100 HP
- Above 100 HP
Breakup by Drive Type:
- 2-Wheel Drive
- 4-Wheel Drive
Breakup by Application:
- Agriculture
- Construction
- Mining
- Forestry
- Others
Breakup by Region:
- North America
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- Middle East and Africa
Competitive Landscape:
The competitive landscape of the industry has also been examined with some of the key players being Agco Corporation, Argo Tractors S.p.A, Changzhou Dongfeng Agricultural Machinery Group Co. Ltd., CLAAS KGaA mbH, CNH Industrial N.V. , Deere & Company, Escorts Limited, Kubota Corporation, Mahindra & Mahindra Ltd. (Mahindra Group), Sonalika Group, Tractors And Farm Equipment Limited (Amalgamations Group), and Yanmar Co. Ltd. (Yanmar Holdings Co., Ltd.).
Report Coverage:
| Report Features |
Details |
|---|
| Base Year of the Analysis |
2020 |
| Historical Period |
2015-2020 |
| Forecast Period |
2021-2026 |
| Units |
US$ Billion |
| Segment Coverage |
Power Output, Drive Type, Application, Region |
| Region Covered |
Asia Pacific, Europe, North America, Latin America, Middle East and Africa |
| Countries Covered |
United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico |
| Companies Covered |
Agco Corporation, Argo Tractors S.p.A, Changzhou Dongfeng Agricultural Machinery Group Co. Ltd., CLAAS KGaA mbH, CNH Industrial N.V. , Deere & Company, Escorts Limited, Kubota Corporation, Mahindra & Mahindra Ltd. (Mahindra Group), Sonalika Group, Tractors And Farm Equipment Limited (Amalgamations Group), and Yanmar Co. Ltd. (Yanmar Holdings Co., Ltd.) |
| Customization Scope |
10% Free Customization |
| Report Price and Purchase Option |
Single User License: US$ 2299
Five User License: US$ 3399
Corporate License: US$ 4499 |
| Post-Sale Analyst Support |
10-12 Weeks |
| Delivery Format |
PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request) |
Key Questions Answered in This Report:
- How has the global tractor market performed so far and how will it perform in the coming years?
- What are the key regional markets?
- What is the impact of COVID 19 on global tractor market?
- What is the breakup of the market based on the power output?
- What is the breakup of the market based on the drive type?
- What is the breakup of the market based on the application?
- What are the various stages in the value chain of the industry?
- What are the key driving factors and challenges in the market?
- What is the structure of the global tractor market and who are the key players?
- What is the degree of competition in the market?
1 Preface
2 Scope and Methodology
2.1 Objectives of the Study
2.2 Stakeholders
2.3 Data Sources
2.3.1 Primary Sources
2.3.2 Secondary Sources
2.4 Market Estimation
2.4.1 Bottom-Up Approach
2.4.2 Top-Down Approach
2.5 Forecasting Methodology
3 Executive Summary
4 Introduction
4.1 Overview
4.2 Key Industry Trends
5 Global Tractor Market
5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID 19
5.4 Market Forecast
6 Market Breakup by Power Output
6.1 Below 40 HP
6.1.1 Market Trends
6.1.2 Market Forecast
6.2 40 HP – 100 HP
6.2.1 Market Trends
6.2.2 Market Forecast
6.3 Above 100 HP
6.3.1 Market Trends
6.3.2 Market Forecast
7 Market Breakup by Drive Type
7.1 2-Wheel Drive
7.1.1 Market Trends
7.1.2 Market Forecast
7.2 4-Wheel Drive
7.2.1 Market Trends
7.2.2 Market Forecast
8 Market Breakup by Application
8.1 Agriculture
8.1.1 Market Trends
8.1.2 Market Forecast
8.2 Construction
8.2.1 Market Trends
8.2.2 Market Forecast
8.3 Mining
8.3.1 Market Trends
8.3.2 Market Forecast
8.4 Forestry
8.4.1 Market Trends
8.4.2 Market Forecast
8.5 Others
8.5.1 Market Trends
8.5.2 Market Forecast
9 Market Breakup by Region
9.1 North America
9.1.1 United States
9.1.1.1 Market Trends
9.1.1.2 Market Forecast
9.1.2 Canada
9.1.2.1 Market Trends
9.1.2.2 Market Forecast
9.2 Asia Pacific
9.2.1 China
9.2.1.1 Market Trends
9.2.1.2 Market Forecast
9.2.2 Japan
9.2.2.1 Market Trends
9.2.2.2 Market Forecast
9.2.3 India
9.2.3.1 Market Trends
9.2.3.2 Market Forecast
9.2.4 South Korea
9.2.4.1 Market Trends
9.2.4.2 Market Forecast
9.2.5 Australia
9.2.5.1 Market Trends
9.2.5.2 Market Forecast
9.2.6 Indonesia
9.2.6.1 Market Trends
9.2.6.2 Market Forecast
9.2.7 Others
9.2.7.1 Market Trends
9.2.7.2 Market Forecast
9.3 Europe
9.3.1 Germany
9.3.1.1 Market Trends
9.3.1.2 Market Forecast
9.3.2 France
9.3.2.1 Market Trends
9.3.2.2 Market Forecast
9.3.3 United Kingdom
9.3.3.1 Market Trends
9.3.3.2 Market Forecast
9.3.4 Italy
9.3.4.1 Market Trends
9.3.4.2 Market Forecast
9.3.5 Spain
9.3.5.1 Market Trends
9.3.5.2 Market Forecast
9.3.6 Russia
9.3.6.1 Market Trends
9.3.6.2 Market Forecast
9.3.7 Others
9.3.7.1 Market Trends
9.3.7.2 Market Forecast
9.4 Latin America
9.4.1 Brazil
9.4.1.1 Market Trends
9.4.1.2 Market Forecast
9.4.2 Mexico
9.4.2.1 Market Trends
9.4.2.2 Market Forecast
9.4.3 Others
9.4.3.1 Market Trends
9.4.3.2 Market Forecast
9.5 Middle East and Africa
9.5.1 Market Trends
9.5.2 Market Breakup by Country
9.5.3 Market Forecast
10 SWOT Analysis
10.1 Overview
10.2 Strengths
10.3 Weaknesses
10.4 Opportunities
10.5 Threats
11 Value Chain Analysis
11.1 Overview
11.2 Research & Development
11.3 Raw Materials/Components Suppliers
11.4 Manufacturers
11.5 Distributors
11.6 Exporters
11.7 End-Users
12 Porters Five Forces Analysis
12.1 Overview
12.2 Bargaining Power of Buyers
12.3 Bargaining Power of Suppliers
12.4 Degree of Competition
12.5 Threat of New Entrants
12.6 Threat of Substitutes
13 Price Analysis
14 Competitive Landscape
14.1 Market Structure
14.2 Key Players
14.3 Profiles of Key Players
14.3.1 Agco Corporation
14.3.1.1 Company Overview
14.3.1.2 Product Portfolio
14.3.1.3 Financials
14.3.1.4 SWOT Analysis
14.3.2 Argo Tractors S.p.A
14.3.2.1 Company Overview
14.3.2.2 Product Portfolio
14.3.3 Changzhou Dongfeng Agricultural Machinery Group Co. Ltd.
14.3.3.1 Company Overview
14.3.3.2 Product Portfolio
14.3.4 CLAAS KGaA mbH
14.3.4.1 Company Overview
14.3.4.2 Product Portfolio
14.3.4.3 Financials
14.3.5 CNH Industrial N.V.
14.3.5.1 Company Overview
14.3.5.2 Product Portfolio
14.3.5.3 Financials
14.3.6 Deere & Company
14.3.6.1 Company Overview
14.3.6.2 Product Portfolio
14.3.6.3 Financials
14.3.6.4 SWOT Analysis
14.3.7 Escorts Limited
14.3.7.1 Company Overview
14.3.7.2 Product Portfolio
14.3.7.3 Financials
14.3.8 Kubota Corporation
14.3.8.1 Company Overview
14.3.8.2 Product Portfolio
14.3.8.3 Financials
14.3.8.4 SWOT Analysis
14.3.9 Mahindra & Mahindra Ltd. (Mahindra Group)
14.3.9.1 Company Overview
14.3.9.2 Product Portfolio
14.3.9.3 Financials
14.3.10 Sonalika Group
14.3.10.1 Company Overview
14.3.10.2 Product Portfolio
14.3.11 Tractors and Farm Equipment Ltd. (Amalgamations Group)
14.3.11.1 Company Overview
14.3.11.2 Product Portfolio
14.3.12 Yanmar Co. Ltd. (Yanmar Holdings Co., Ltd.)
14.3.12.1 Company Overview
14.3.12.2 Product Portfolio
List of Figures
Figure 1: Global: Tractor Market: Major Drivers and Challenges
Figure 2: Global: Tractor Market: Sales Value (in Billion US$), 2015-2020
Figure 3: Global: Tractor Market: Breakup by Power Output (in %), 2020
Figure 4: Global: Tractor Market: Breakup by Drive Type (in %), 2020
Figure 5: Global: Tractor Market: Breakup by Application (in %), 2020
Figure 6: Global: Tractor Market: Breakup by Region (in %), 2020
Figure 7: Global: Tractor Market Forecast: Sales Value (in Billion US$), 2021-2026
Figure 8: Global: Tractor (Below 40 HP) Market: Sales Value (in Million US$), 2015 & 2020
Figure 9: Global: Tractor (Below 40 HP) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 10: Global: Tractor (40 HP – 100 HP) Market: Sales Value (in Million US$), 2015 & 2020
Figure 11: Global: Tractor (40 HP – 100 HP) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 12: Global: Tractor (Above 100 HP) Market: Sales Value (in Million US$), 2015 & 2020
Figure 13: Global: Tractor (Above 100 HP) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 14: Global: Tractor (2-Wheel Drive) Market: Sales Value (in Million US$), 2015 & 2020
Figure 15: Global: Tractor (2-Wheel Drive) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 16: Global: Tractor (4-Wheel Drive) Market: Sales Value (in Million US$), 2015 & 2020
Figure 17: Global: Tractor (4-Wheel Drive) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 18: Global: Tractor (Agriculture) Market: Sales Value (in Million US$), 2015 & 2020
Figure 19: Global: Tractor (Agriculture) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 20: Global: Tractor (Construction) Market: Sales Value (in Million US$), 2015 & 2020
Figure 21: Global: Tractor (Construction) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 22: Global: Tractor (Mining) Market: Sales Value (in Million US$), 2015 & 2020
Figure 23: Global: Tractor (Mining) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 24: Global: Tractor (Forestry) Market: Sales Value (in Million US$), 2015 & 2020
Figure 25: Global: Tractor (Forestry) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 26: Global: Tractor (Other Applications) Market: Sales Value (in Million US$), 2015 & 2020
Figure 27: Global: Tractor (Other Applications) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 28: North America: Tractor Market: Sales Value (in Million US$), 2015 & 2020
Figure 29: North America: Tractor Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 30: United States: Tractor Market: Sales Value (in Million US$), 2015 & 2020
Figure 31: United States: Tractor Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 32: Canada: Tractor Market: Sales Value (in Million US$), 2015 & 2020
Figure 33: Canada: Tractor Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 34: Asia Pacific: Tractor Market: Sales Value (in Million US$), 2015 & 2020
Figure 35: Asia Pacific: Tractor Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 36: China: Tractor Market: Sales Value (in Million US$), 2015 & 2020
Figure 37: China: Tractor Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 38: Japan: Tractor Market: Sales Value (in Million US$), 2015 & 2020
Figure 39: Japan: Tractor Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 40: India: Tractor Market: Sales Value (in Million US$), 2015 & 2020
Figure 41: India: Tractor Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 42: South Korea: Tractor Market: Sales Value (in Million US$), 2015 & 2020
Figure 43: South Korea: Tractor Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 44: Australia: Tractor Market: Sales Value (in Million US$), 2015 & 2020
Figure 45: Australia: Tractor Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 46: Indonesia: Tractor Market: Sales Value (in Million US$), 2015 & 2020
Figure 47: Indonesia: Tractor Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 48: Others: Tractor Market: Sales Value (in Million US$), 2015 & 2020
Figure 49: Others: Tractor Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 50: Europe: Tractor Market: Sales Value (in Million US$), 2015 & 2020
Figure 51: Europe: Tractor Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 52: Germany: Tractor Market: Sales Value (in Million US$), 2015 & 2020
Figure 53: Germany: Tractor Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 54: France: Tractor Market: Sales Value (in Million US$), 2015 & 2020
Figure 55: France: Tractor Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 56: United Kingdom: Tractor Market: Sales Value (in Million US$), 2015 & 2020
Figure 57: United Kingdom: Tractor Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 58: Italy: Tractor Market: Sales Value (in Million US$), 2015 & 2020
Figure 59: Italy: Tractor Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 60: Spain: Tractor Market: Sales Value (in Million US$), 2015 & 2020
Figure 61: Spain: Tractor Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 62: Russia: Tractor Market: Sales Value (in Million US$), 2015 & 2020
Figure 63: Russia: Tractor Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 64: Others: Tractor Market: Sales Value (in Million US$), 2015 & 2020
Figure 65: Others: Tractor Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 66: Latin America: Tractor Market: Sales Value (in Million US$), 2015 & 2020
Figure 67: Latin America: Tractor Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 68: Brazil: Tractor Market: Sales Value (in Million US$), 2015 & 2020
Figure 69: Brazil: Tractor Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 70: Mexico: Tractor Market: Sales Value (in Million US$), 2015 & 2020
Figure 71: Mexico: Tractor Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 72: Others: Tractor Market: Sales Value (in Million US$), 2015 & 2020
Figure 73: Others: Tractor Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 74: Middle East and Africa: Tractor Market: Sales Value (in Million US$), 2015 & 2020
Figure 75: Middle East and Africa: Tractor Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 76: Global: Tractor Industry: SWOT Analysis
Figure 77: Global: Tractor Industry: Value Chain Analysis
Figure 78: Global: Tractor Industry: Porter’s Five Forces Analysis
List of Tables
Table 1: Global: Tractor Market: Key Industry Highlights, 2020 and 2026
Table 2: Global: Tractor Market Forecast: Breakup by Power Output (in Million US$), 2021-2026
Table 3: Global: Tractor Market Forecast: Breakup by Drive Type (in Million US$), 2021-2026
Table 4: Global: Tractor Market Forecast: Breakup by Application (in Million US$), 2021-2026
Table 5: Global: Tractor Market Forecast: Breakup by Region (in Million US$), 2021-2026
Table 6: Global: Tractor Market: Competitive Structure
Table 7: Global: Tractor Market: Key Players