The global agriculture tractor market is expected to grow at a CAGR of 5% during the forecast period 2016–2022.

Analysts at Arizton expect the global agriculture tractor market to grow at a healthy CAGR of 5% during the period 2016–2022. The growing demand for food grains across the globe is expected to push the sale.

The report provides a holistic view of the global market, the companies involved in the market, and the factors driving its growth. The report also provides information on some of the latest trends that have started to surface and are likely to become strong market driving forces over the next five years. This report also provides the Porter’s Five Forces analysis along with a description of each force and its impact on the market. Further, the report also provides complete value chain analysis of the global market.

View report: Agriculture Tractor Market - Global Outlook and Forecast 2017 - 2022

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

Agriculture Tractor Market: Key Vendor Analysis

The report profiles the leading vendors as well as emerging vendors. It includes product portfolios of several companies. The major vendors included in the report are AGCO, CNH, Deere & Company, Kubota. Other vendors include ACE, Captain, Daedong, Escorts Group, Force Motors, Foton Lovol, HMT, Iseki, McCormick, Mahindra & Mahindra, Mars Group, SDF, Sonalika, TAFE, VST Tillers, and Yanmar.

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.

Below 40 HP agriculture tractor segment will dominate the market

In terms of HP, a definite trend can be observed worldwide for the forecast period. There will be increasing demand for below 40 HP and above 100 HP agriculture tractor in almost all geographies. This is mainly due to the consolidation of small land and increased family-owned farming in countries such as the US.

The below 40 HP segment accounts for more than half of the total agriculture tractor sales, globally. In many regions and countries, this segment contributes more than two-thirds to the overall market. Countries such as India, China, the US, and Africa are witnessing a high demand for below 40 HP agriculture tractors.

APAC to remain the largest market

This report considers four major regions: APAC, Europe, North America, and RoW. The adoption of tractors to conduct agriculture operations varies with geography. While the market in developed economies is saturated, resulting in demand for advanced agriculture tractor, the market in developing economies continues to witness a low penetration. Therefore, the demand for agricultural tractor is coming from developing economies such as India, China, Thailand, and Bangladesh.

Major key countries and regions have started exhibiting the revival in demand for agriculture tractors. Germany, where the demand has been falling continuously since 2013, is witnessing the revival in demand from the beginning of 2017. Similarly, the demand for agriculture tractor from January and February 2017 onwards in the UK was high for the same period in 2016. India and China are also witnessing a positive growth.

In 2022, APAC is expected to account for 72% of the overall market share, whereas the percentage share of North America is expected to decline to 12% in 2022 from 14% in 2016. However, Africa is the fastest growing market, growing at a CAGR of more than 8%, followed by APAC during the forecast period.

View report: Agriculture Tractor Market - Global Outlook and Forecast 2017 - 2022

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

Related Report

Agricultural Tractor Tires Market - Global Outlook and Forecast 2017-2022

https://www.arizton.com/reports/automotive-mobility/agricultural-tractor-tires-market

About Arizton
Arizton – Advisory and Intelligence is an innovation and quality-driven firm, which offers cutting-edge research solutions to clients across the world. We excel in providing comprehensive market intelligence reports and advisory and consulting services.

Arizton has gained a paramount standpoint in the market research arena as it offers top of the line solutions to clients to assess market landscape and to finalize foolproof business strategies. We are committed to provide inclusive market research reports and consulting services to clients from diversified industries including –Consumer Goods & Retail Technology, Automotive and Mobility, Smart Tech, Healthcare and Lifesciences, Industrial Machinery, Chemicals and Materials, IT and Media, Logistics and Packaging

Arizton comprises a team of exuberant and well-experienced analysts who have mastered in generating incisive reports. Our specialist analysts possess exemplary skills in market research. We train our team in advanced research practices, techniques, and ethics to outperform in fabricating impregnable research reports.

Arizton Advisory & Intelligence
Chicago, Illinois, 60605
Mail: enquiry@arizton.com
Call: +1-312-465-7864

This release was published on openPR.