PUBLISHER: Coherent Market Insights | PRODUCT CODE: 1699519
PUBLISHER: Coherent Market Insights | PRODUCT CODE: 1699519
Tractors Market, By Power Output, By Drive Type, By Application, By Geography
Global Tractors Market is estimated to be valued at US$ 89.20 Bn in 2025 and is expected to reach US$ 132.36 Bn by 2032, growing at a compound annual growth rate (CAGR) of 5.8% from 2025 to 2032.
| Report Coverage | Report Details | ||
|---|---|---|---|
| Base Year: | 2024 | Market Size in 2025: | USD 89.20 Bn |
| Historical Data for: | 2020 To 2024 | Forecast Period: | 2025 To 2032 |
| Forecast Period 2025 to 2032 CAGR: | 5.80% | 2032 Value Projection: | USD 132.36 Bn |
The global tractors market has witnessed substantial growth over the past few decades. Tractors find widespread applications in agriculture for tasks such as plowing, harvesting, soil conditioning and lifting and distributing fertilizers and feed. Strong demand from the agricultural sector driven by the need to increase farm productivity and rising production of commodities, such as cereals and grains, has accelerated the sales of tractors. Furthermore, growing mechanization of agriculture along with government initiatives aimed at modernizing farm equipment has stimulated market growth. Various technologies integrated with tractors, such as GPS, auto-guidance systems, and telematics, have enhanced efficiency. Major manufacturers, such as AGCO Corporation and Mahindra & Mahindra Ltd., are focusing on producing high-powered and fuel-efficient tractors to meet the changing requirements of customers. The market is anticipated to continue expanding in the coming years due to rapid urbanization, increasing population, and rising food demand globally.
Market Dynamics:
Rising mechanization of agriculture across both developed and developing countries is a key factor propelling the demand for tractors. Growth in infrastructure projects related to irrigation systems and watershed management have also contributed to market revenues. Various government schemes aimed at providing financial assistance to adopt modern agricultural machinery have significantly boosted sales. However, high initial capital requirement for purchasing advanced tractors remains a major restraint. Moreover, availability of old/used tractors at cheaper prices may deter new equipment purchases to some extent. A growing emphasis on sustainable farming presents new opportunities. Introduction of emission-compliant tractors integrated with advanced technologies can address environmental issues and aid in adoption of precision farming techniques.
Key Features of the Study:
This report provides in-depth analysis of the global tractors market, and provides market size (US$ Billion) and compound annual growth rate (CAGR%) for the forecast period (2025-2032), considering 2024 as the base year
It elucidates potential revenue 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 tractors 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 Deere & Company, CNH Industrial N.V., Kubota Corporation, AGCO Corporation, Mahindra & Mahindra Ltd., CLAAS KGaA mbH, SDF Group, Yanmar Co., Ltd., Escorts Limited, Massey Ferguson Limited, Argo Tractors S.p.A., Kioti Tractor Division (Daedong Industrial Co., Ltd.), LS Mtron Ltd., Sonalika International Tractors Ltd., and TAFE (Tractors and Farm Equipment Limited)
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 tractors market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global tractors market
Market Segmentation
- Power Output Insights (Revenue, USD Bn, 2020 - 2032)
- Below 40 HP
- 40 HP to 100 HP
- Above 100 HP
- Drive Type Insights (Revenue, USD Bn, 2020 - 2032)
- Two-Wheel Drive (2WD)
- Four-Wheel Drive (4WD)
- Application Insights (Revenue, USD Bn, 2020 - 2032)
- Agriculture
- Construction
- Forestry and Others
- Regional Insights (Revenue, USD Bn, 2020 - 2032)
- North America
- U.S.
- Canada
- Latin America
- Brazil
- Argentina
- Mexico
- Rest of Latin America
- Europe
- Germany
- U.K.
- Spain
- France
- Italy
- Russia
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- Australia
- South Korea
- ASEAN
- Rest of Asia Pacific
- Middle East
- GCC Countries
- Israel
- Rest of Middle East
- Africa
- South Africa
- North Africa
- Central Africa
- Key Players Insights
- Deere & Company
- CNH Industrial N.V.
- Kubota Corporation
- AGCO Corporation
- Mahindra & Mahindra Ltd.
- CLAAS KGaA mbH
- SDF Group
- Yanmar Co., Ltd.
- Escorts Limited
- Massey Ferguson Limited
- Argo Tractors S.p.A.
- Kioti Tractor Division (Daedong Industrial Co., Ltd.)
- LS Mtron Ltd.
- Sonalika International Tractors Ltd.
- TAFE (Tractors and Farm Equipment Limited)
Table of Contents
1. Research Objectives and Assumptions
- Research Objectives
- Assumptions
- Abbreviations
2. Market Purview
- Report Description
- Market Definition and Scope
- Executive Summary
- Global Tractors Market, By Power Output
- Global Tractors Market, By Drive Type
- Global Tractors Market, By Application
- Global Tractors Market, By Region
3. Market Dynamics, Regulations, and Trends Analysis
- Market Dynamics
- Impact Analysis
- Key Highlights
- Regulatory Scenario
- Product Launches/Approvals
- PEST Analysis
- PORTER's Analysis
- Market Opportunities
- Regulatory Scenario
- Key Developments
- Industry Trends
4. Global Tractors Market, By Power Output, 2020-2032, (USD Bn)
- Introduction
- Market Share Analysis, 2025 and 2032 (%)
- Y-o-Y Growth Analysis, 2021 - 2032
- Segment Trends
- Below 40 HP
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2020-2032, (USD Bn)
- 40 HP to 100 HP
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2020-2032, (USD Bn)
- Above 100 HP
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2020-2032, (USD Bn)
5. Global Tractors Market, By Drive Type, 2020-2032, (USD Bn)
- Introduction
- Market Share Analysis, 2025 and 2032 (%)
- Y-o-Y Growth Analysis, 2021 - 2032
- Segment Trends
- Two-Wheel Drive (2WD)
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2020-2032, (USD Bn)
- Four-Wheel Drive (4WD)
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2020-2032, (USD Bn)
6. Global Tractors Market, By Application, 2020-2032, (USD Bn)
- Introduction
- Market Share Analysis, 2025 and 2032 (%)
- Y-o-Y Growth Analysis, 2021 - 2032
- Segment Trends
- Agriculture
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2020-2032, (USD Bn)
- Construction
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2020-2032, (USD Bn)
- Forestry and Others
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2020-2032, (USD Bn)
7. Global Tractors Market, By Region, 2020 - 2032, Value (USD Bn)
- Introduction
- Market Share (%) Analysis, 2025,2028 & 2032, Value (USD Bn)
- Market Y-o-Y Growth Analysis (%), 2021 - 2032, Value (USD Bn)
- Regional Trends
- North America
- Introduction
- Market Size and Forecast, By Power Output, 2020 - 2032, Value (USD Bn)
- Market Size and Forecast, By Drive Type, 2020 - 2032, Value (USD Bn)
- Market Size and Forecast, By Application, 2020 - 2032, Value (USD Bn)
- Market Size and Forecast, By Country, 2020 - 2032, Value (USD Bn)
- U.S.
- Canada
- Latin America
- Introduction
- Market Size and Forecast, By Power Output, 2020 - 2032, Value (USD Bn)
- Market Size and Forecast, By Drive Type, 2020 - 2032, Value (USD Bn)
- Market Size and Forecast, By Application, 2020 - 2032, Value (USD Bn)
- Market Size and Forecast, By Country, 2020 - 2032, Value (USD Bn)
- Brazil
- Argentina
- Mexico
- Rest of Latin America
- Europe
- Introduction
- Market Size and Forecast, By Power Output, 2020 - 2032, Value (USD Bn)
- Market Size and Forecast, By Drive Type, 2020 - 2032, Value (USD Bn)
- Market Size and Forecast, By Application, 2020 - 2032, Value (USD Bn)
- Market Size and Forecast, By Country, 2020 - 2032, Value (USD Bn)
- Germany
- U.K.
- Spain
- France
- Italy
- Russia
- Rest of Europe
- Asia Pacific
- Introduction
- Market Size and Forecast, By Power Output, 2020 - 2032, Value (USD Bn)
- Market Size and Forecast, By Drive Type, 2020 - 2032, Value (USD Bn)
- Market Size and Forecast, By Application, 2020 - 2032, Value (USD Bn)
- Market Size and Forecast, By Country, 2020 - 2032, Value (USD Bn)
- China
- India
- Japan
- Australia
- South Korea
- ASEAN
- Rest of Asia Pacific
- Middle East
- Introduction
- Market Size and Forecast, By Power Output, 2020 - 2032, Value (USD Bn)
- Market Size and Forecast, By Drive Type, 2020 - 2032, Value (USD Bn)
- Market Size and Forecast, By Application, 2020 - 2032, Value (USD Bn)
- Market Size and Forecast, By Country, 2020 - 2032, Value (USD Bn)
- GCC Countries
- Israel
- Rest of Middle East
- Africa
- Introduction
- Market Size and Forecast, By Power Output, 2020 - 2032, Value (USD Bn)
- Market Size and Forecast, By Drive Type, 2020 - 2032, Value (USD Bn)
- Market Size and Forecast, By Application, 2020 - 2032, Value (USD Bn)
- Market Size and Forecast, By Country/Region, 2020 - 2032, Value (USD Bn)
- South Africa
- North Africa
- Central Africa
8. Competitive Landscape
- Deere & Company
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
- CNH Industrial N.V.
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
- Kubota Corporation
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
- AGCO Corporation
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
- Mahindra & Mahindra Ltd.
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
- CLAAS KGaA mbH
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
- SDF Group
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
- Yanmar Co., Ltd.
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
- Escorts Limited
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
- Massey Ferguson Limited
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
- Argo Tractors S.p.A.
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
- Kioti Tractor Division (Daedong Industrial Co., Ltd.)
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
- LS Mtron Ltd.
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
- Sonalika International Tractors Ltd.
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
- TAFE (Tractors and Farm Equipment Limited)
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
9. Analyst Recommendations
- Wheel of Fortune
- Analyst View
- Coherent Opportunity Map
10. References and Research Methodology
- References
- Research Methodology
- About us
