Agricultural Tractor Market, By Operation, By Engine power, By Type, By Drive type, By Geography

Description

The agricultural tractor market is estimated to be valued at US$ 83.56 Bn in 2024 and is expected to reach US$ 122.66 Bn by 2031, growing at a compound annual growth rate (CAGR) of 5.6% from 2024 to 2031.

Report Coverage		Report Details
Base Year:	2023	Market Size in 2024:	US$ 83.56 Bn
Historical Data for:	2019 To 2023	Forecast Period:	2024 To 2031
Forecast Period 2024 to 2031 CAGR:	5.60%	2031 Value Projection:	US$ 122.66 Bn

Figure. Agricultural Tractor Market Share (%), By Region, 2024

The global agricultural tractor market has been witnessing steady growth in the past few decades owing to the increasing mechanization of agricultural activities worldwide. Tractors help in minimizing the dependence on manual labor for activities like plowing, seeding, harvesting, etc. and boost farm output. Additionally, rising population has augmented the demand for food, giving an impetus to agricultural productivity. Tractors offer efficient and timely operations in farms and help meet the escalating food demand. Various government initiatives promoting farm mechanization through subsidy programs have further augmented the adoption of tractors among small and marginal farmers. However, the market faces challenges from decreasing average farm sizes and rising cost of fuel.

Market Dynamics:

The key drivers fueling the global agricultural tractor market include the growing demand for food grains owing to surge in population, shortage of agricultural labor, and initiatives by various governments to promote farm mechanization. Rising agricultural incomes and financing schemes for farmers have positively impacted tractor sales. Additionally, increasing opportunities in non-agricultural activities have led to the migration of farm labor from rural to urban areas aggravating the shortage of labor. This has boosted the demand for tractors for field cultivation. However, decreasing average land holdings especially in Asian countries along with rising fuel costs pose challenges to market growth. Increased adoption of technologies like autonomous tractors and electric tractors present significant opportunities for market players.

Key features of the study:

This report provides an in-depth analysis of the global agricultural tractor market, and provides market size (US$ Billion) and compound annual growth rate (CAGR %) for the forecast period (2024-2031), considering 2023 as the base year.
It elucidates potential revenue growth opportunities across different segments and explains attractive investment proposition matrices for this market.
This study also provides key insights about market drivers, restraints, opportunities, new product launches or approvals, market trends, regional outlook, and competitive strategies adopted by key players.
It profiles key players in the global agricultural tractor market based on the following parameters - company highlights, products portfolio, key highlights, financial performance, and strategies.
Key companies covered as a part of this study include Agco Tractors (Fendt), Captain Tractors, Eicher Tractors, Escorts Tractors, Force Tractors, Gromax Agri Equipment Limited, John Deere Tractors, JCB, Kubota Tractor, Mahindra Tractors, Monarch Tractor Electric Tractor, New Holland Tractors, SDF, Sonalika Tractors, SOLECTRAC, Standard Tractors, and Swaraj Tractors.
Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics.
The global agricultural tractor market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts.

Detailed Segmentation-

By Operation
- Manual
- Autonomous
By Engine Power
- Below 40 HP
- 40 HP-120 HP
- 121 HP-180 HP
- 181 HP-250 HP
- More than 250 HP
By Type
- ICE
- Electric/Hybrid
By Drive Type
- 2-Wheel Drive
- 4-Wheel Drive
By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East
- Africa
Key Players
- Agco Tractors (Fendt)
- Captain Tractors
- Eicher Tractors
- Escorts Tractors
- Force Tractors
- Gromax Agri Equipment Limited
- John Deere Tractors
- JCB
- Kubota Tractor
- Mahindra Tractors
- Monarch Tractor Electric Tractor
- New Holland Tractors
- SDF
- Sonalika Tractors
- SOLECTRAC
- Standard Tractors
- Swaraj Tractors

Product Code: CMI5341

1. Research Objectives and Assumptions

Research Objectives
Assumptions
Abbreviations

2. Market Purview

Report Description
- Market Definition and Scope
Executive Summary
- Market Snippet, By Operation
- Market Snippet, By Engine power
- Market Snippet, By Type
- Market Snippet, By Drive type
- Market Snippet, By Region
Coherent Opportunity Map (COM)

3. Market Dynamics, Regulations, and Trends Analysis

Market Dynamics
- Drivers
- Restraints
- Opportunities
Regulatory Scenario
Industry Trend
Merger and Acquisitions
New system Launch/Approvals
Impact of the COVID-19 Pandemic

4. Global Agricultural Tractor Market, By Operation, 2019-2031 (US$ Billion)

Introduction
- Market Share Analysis, 2024 and 2031 (%)
- Y-o-Y Growth Analysis, 2019-2031
- Segment Trends
Manual
- Introduction
- Market Size and Forecast, 2019-2031, (US$ Billion)
Autonomous
- Introduction
- Market Size and Forecast, 2019-2031, (US$ Billion)

5. Global Agricultural Tractor Market, By Engine power, 2019-2031 (US$ Billion)

Introduction
- Market Share Analysis, 2024 and 2031 (%)
- Y-o-Y Growth Analysis, 2019-2031
- Segment Trends
Below 40 HP
- Introduction
- Market Size and Forecast, 2019-2031, (US$ Billion)
40 HP-120 HP
- Introduction
- Market Size and Forecast, 2019-2031, (US$ Billion)
121 HP-180 HP
- Introduction
- Market Size and Forecast, 2019-2031, (US$ Billion)
181 HP-250 HP
- Introduction
- Market Size and Forecast, 2019-2031, (US$ Billion)
More than 250 HP
- Introduction
- Market Size and Forecast, 2019-2031, (US$ Billion)

6. Global Agricultural Tractor Market, By Type, 2019-2031 (US$ Billion)

Introduction
- Market Share Analysis, 2024 and 2031 (%)
- Y-o-Y Growth Analysis, 2019-2031
- Segment Trends
ICE
- Introduction
- Market Size and Forecast, 2019-2031, (US$ Billion)
Electric/Hybrid
- Introduction
- Market Size and Forecast, 2019-2031, (US$ Billion)

7. Global Agricultural Tractor Market, By Drive type, 2019-2031 (US$ Billion)

Introduction
- Market Share Analysis, 2024 and 2031 (%)
- Y-o-Y Growth Analysis, 2019-2031
- Segment Trends
2-Wheel Drive
- Introduction
- Market Size and Forecast, 2019-2031, (US$ Billion)
4-Wheel Drive
- Introduction
- Market Size and Forecast, 2019-2031, (US$ Billion)

8. Global Agricultural Tractor Market, By Region, 2019-2031 (US$ Billion)

Introduction
- Market Share Analysis, By Region, 2024 and 2031 (%)
- Y-o-Y Growth Analysis, 2019-2031
North America
- Regional Trends
- Market Size and Forecast, By Operation, 2019-2031 (US$ Billion)
- Market Size and Forecast, By Engine power, 2019-2031 (US$ Billion)
- Market Size and Forecast, By Type, 2019-2031 (US$ Billion)
- Market Size and Forecast, By Drive type, 2019-2031 (US$ Billion)
- Market Share Analysis, By Country, 2019 and 2031 (%)
  - U.S.
  - Canada
  - Europe
- Regional Trends
- Market Size and Forecast, By Operation, 2019-2031 (US$ Billion)
- Market Size and Forecast, By Engine power, 2019-2031 (US$ Billion)
- Market Size and Forecast, By Type, 2019-2031 (US$ Billion)
- Market Size and Forecast, By Drive type, 2019-2031 (US$ Billion)
- Market Share Analysis, By Country, 2019 and 2031 (%)
  - U.K.
  - Germany
  - Italy
  - France
  - Russia
  - Rest of Europe
  - Asia Pacific
- Regional Trends
- Market Size and Forecast, By Operation, 2019-2031 (US$ Billion)
- Market Size and Forecast, By Engine power, 2019-2031 (US$ Billion)
- Market Size and Forecast, By Type, 2019-2031 (US$ Billion)
- Market Size and Forecast, By Drive type, 2019-2031 (US$ Billion)
- Market Share Analysis, By Country, 2019 and 2031 (%)
  - China
  - India
  - ASEAN
  - Australia
  - South Korea
  - Japan
  - Rest of Asia Pacific
  - Latin America
- Regional Trends
- Market Size and Forecast, By Operation, 2019-2031 (US$ Billion)
- Market Size and Forecast, By Engine power, 2019-2031 (US$ Billion)
- Market Size and Forecast, By Type, 2019-2031 (US$ Billion)
- Market Size and Forecast, By Drive type, 2019-2031 (US$ Billion)
- Market Share Analysis, By Country, 2019 and 2031 (%)
  - Brazil
  - Argentina
  - Mexico
  - Rest of Latin America
  - Middle East and Africa
- Regional Trends
- Market Size and Forecast, By Operation, 2019-2031 (US$ Billion)
- Market Size and Forecast, By Engine power, 2019-2031 (US$ Billion)
- Market Size and Forecast, By Type, 2019-2031 (US$ Billion)
- Market Size and Forecast, By Drive type, 2019-2031 (US$ Billion)
- Market Share Analysis, By Country, 2019 and 2031 (%)
  - GCC Countries
  - South Africa
  - Rest of the Middle East and Africa

9. Competitive Landscape

Company Profiles
- Agco Tractors (Fendt)
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- Captain Tractors
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- Eicher Tractors
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- Escorts Tractors
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- Force Tractors
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- Gromax Agri Equipment Limited
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- John Deere Tractors
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- JCB
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- Kubota Tractor
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- Mahindra Tractors
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- Monarch Tractor Electric Tractor
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- New Holland Tractors
- SDF
- Sonalika Tractors
- SOLECTRAC
- Standard Tractors
- Swaraj Tractors

10. Analyst Recommendations

Wheel of Fortune
Analyst View
Coherent Opportunity Map

11. Research Methodology

References
Research Methodology
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