Agriculture Tractor Market - Industry Analysis, Market Size and Forecast 2022

The global agriculture tractor market is expected to grow at a CAGR of 5% during the forecast period 2016–2022. AGCO, CNH, Deere & Company, Kubota are the leading vendors in the global market. Increased food demand due to increased population is driving the requirement of agriculture tractors. The Below 40HP agriculture tractors segment is likely be a major segment with maximum share. The APAC region will remain the largest market till 2022, followed by North America. Africa is likely to emerge as the fastest growing region.

View report: https://www.arizton.com/reports/automotive-mobility/agriculture-tractor-market

Major Vendors are as following:
AGCO
CNH
Deere & Company
Kubota

Other vendors include ACE Tractors, Captain Tractors, Daedong, Escorts Group, Force Motors, Foton Lovol, HMT, Iseki, McCormick, Mahindra & Mahindra, Mars Group, SDF, Sonalika, TAFE, VST Tillers, Yanmar.

Horsepower (HP) (Below 40 HP, 40-100 HP, Above 100 HP, 4WD)

Major Geographies (APAC, Europe, Latin America, MEA, North America)

The report provides a detailed market size by HP for the above-mentioned regions.

Key Countries (Africa, Brazil, Canada, China, France, Germany, India, Italy, Russia, UK, US)

Use of advanced technology in agriculture machinery to drive the demand

The demand for two set of tractors is expected to increase during the period 2017–2022. The first being semi-professional, and the second is high HP tractors. Many vendors such as Deere, AGCO, and Kubota are focusing on high HP.

The sale of agriculture tractor in developed countries in 2016 witnessed a decline of an average of (15­–20%) due to various factors such as a slowdown in world economic growth, cyclic factors (earlier boom in the agriculture sector in 2012 in many developed countries), and decreased commodity prices. However, the outlook for 2017 remains strong, and the sale of agriculture tractor in developed economies is expected to register a moderate growth rate.

Advancement in agriculture tractor technology such as the use of telematics and GPS, and the increased use of precision farming is going to accelerate the sale. Further, increased farm mechanization in emerging economies and increased replacement demand for agriculture tractors in North America and Western Europe are among the other driving factors of the market.

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