Impact of Existing and Emerging Tractors Market Trends And Forecast 2017-2027

Fact.MR observes that the adoption of tractors witnessed an impressive growth in the past decade. According to its forecast study, the global market for tractors is assessed to witness sales of over 3,100 thousand units of tractors by the end of 2026. The study also foresees that during the period, 2017-2026, the global market for tractors will reflect a CAGR of 3.2% in terms of value.

Large Scale Farming to Drive the Demand for Tractors Equipped with 60-140 HP Engines

In 2017 and beyond, around 30% of tractors sold globally will be equipped with 60-140 HP engines. The report identifies that increasing adoption of large-scale farming is driving the need for tractors with high power engines. Governments are providing lucrative funding for large-scale farming, which extends the budgets of farmers in buying tractors with high power engines. From the manufacturing standpoint, high prices of 60-140 HP tractors will translate into high profit margins in the view of their growing sales. The demand for 140-400 HP tractors is also pegged to surge towards the end of the forecast period. By the end of 2026, nearly 330 thousand units of 140-400 HP tractors are pegged to be sold globally.

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Hydraulic Mechanism to Remain Sought-After; Garden Applications to Register Fast Volume Growth

Majority of tractors manufactured globally will be developed on a hydraulic mechanism. The advantages of hydraulic tractors in terms of efficient fuel and fluid transmissions, economical utility and conservative power consumption will drive their sales in the near future. Throughout the forecast period, more than 50% of tractors sold globally will be developed on hydraulic mechanism. It is further estimated that gardening application of tractors will gain traction through 2026. Over the forecast period, garden tractors are expected to reflect the highest volume CAGR of 3.7%, reflecting rampant adoption. The report also foresees that utility tractors will be a high volume growth application in the global market. By the end of 2026, more than 740 thousand units of utility tractors are pegged to be sold worldwide.

Arrival of Driverless Tractors to Redefine Market Dynamics

Leading manufacturers of tractors are expected to focus on improving the safety of tractors by incorporating technologies and remodeling the structure of tractors, thereby eliminating the chances of rollovers. Companies such as Caterpillar, Deere & Company, Tractors and Farm Equipment Limited, Kubota Corporation, AGCO Corporation, Claas KGaA mbH, New Holland, McCormick Tractor, Escorts Limited., Bobcat (a Doosan company), Mahindra & Mahindra Limited, KIOTI Tractor (subsidiary of Daedong Industrial Company, Ltd.), Yanmar America Corporation and JCB, are observed as the key manufacturers of tractors in the world. With the advent of autonomous driving technologies, self-driving tractors will be penetrating the agricultural machinery industry in the near future. Driverless tractors will revolutionize the global landscape for tractor manufacturing. Advanced sensors and IoT technologies will be integrated with tractors to transform their functioning for meeting the future farming needs.

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New range of tractors entering the market are exhibiting higher efficiency in terms of fuel consumption and performance. Manufacturers are also focusing on lowering the carbon footprint of tractors for supporting their utility in sustainable farming. Furthermore, farmers are enrolling into training programs for extending their abilities in operating advanced tractors that come with a range of functionalities beyond their conventional purpose in tilling, plowing and harrowing.

Table of Contents Covered in this reprot are:

1. Global Economic Outlook

2. Global Tractors Market – Executive Summary

3. Global Tractors Market Overview
3.1. Introduction
3.1.1. Global Tractors Market Taxonomy
3.1.2. Global Tractors Market Definition
3.2. Global Tractors Market Size (US$ Mn) and Volume (Units) Forecast, 2012-2026
3.2.1. Global Tractors Market Y-o-Y Growth
3.3. Global Tractors Market Dynamics
3.3.1. Mechanization of Agricultural Activities Driving the Global Tractor Demand
3.3.2. Advancement in Tractor Functionality Supporting the Growth of the Global Market
3.3.3. Ever-Rising Global Demand for Food Boosting Adoption of Agricultural Equipment
3.3.4. Increased Non-Agricultural Application of Tractor
3.3.5. Growth of the Agricultural Equipment Industry Creating Opportunities
3.3.6. Tractor Rental a Major Trend in Third World Countries
3.3.7. High Cost and Lack of Skilled Labor Continues to Hamper the Adoption Rate

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3.4. Global Agricultural Machinery Market: Macroeconomic Factors and Impact Analysis
3.5. Growth Opportunities of Tractors and other Agricultural Equipment in Agriculture Sector
3.6. Impactful Trends Transforming Agriculture to High-Tech Industry
3.7. Key Challenges and Opportunities
3.8. Trademap Analysis
3.8.1. Global Tractors Market: Import Data
3.8.2. Global Tractors Market: Export Data
3.9. Technological Road Map
3.10. Investment Feasible Index
3.11. Scenario Forecast
3.12. Forecast Factors
3.13. Market Competition Structure
3.14. Supply Chain
3.15. PESTLE Analysis
3.16. Porter’s Five Forces Analysis
3.17. Global Agricultural Machinery Market: List of Suppliers
3.18. Agricultural Machinery Analysis: Comparison (By Mode of Operation)
3.19. Global Agricultural Machinery Market: Dynamic Developments
3.20. Key Takeaways
3.21. Pricing Analysis
3.22. Global Tractors Market: Regional Bigwigs
3.22.1. North America: Regional Bigwigs
3.22.2. Latin America: Regional Bigwigs
3.22.3. Europe: Regional Bigwigs
3.22.4. Japan: Regional Bigwigs
3.22.5. APEJ: Regional Bigwigs
3.22.6. MEA: Regional Bigwigs
3.23. Key Participants Market Presence (Intensity Map) By Region

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4. Global Tractors Market Analysis and Forecast 2012-2026
4.1. Global Tractors Market Size and Volume Forecast By Engine Types, 2012-2026
4.1.1. 22 to 25HP Market Size and Volume Forecast, 2012-2026
4.1.1.1. Revenue (US$ Mn) & Volume (Unit) Comparison, By Region
4.1.1.2. Market Share Comparison, By Region
4.1.1.3. Y-o-Y growth Comparison, By Region
4.1.2. 25 to 60HP Market Size and Volume Forecast, 2012-2026
4.1.2.1. Revenue (US$ Mn) & Volume (Unit) Comparison, By Region
4.1.2.2. Market Share Comparison, By Region
4.1.2.3. Y-o-Y growth Comparison, By Region
4.1.3. 60 to 140HP Market Size and Volume Forecast, 2012-2026
4.1.3.1. Revenue (US$ Mn) & Volume (Unit) Comparison, By Region
4.1.3.2. Market Share Comparison, By Region
4.1.3.3. Y-o-Y growth Comparison, By Region
4.1.4. 140 to 400 HP Market Size and Volume Forecast, 2012-2026
4.1.4.1. Revenue (US$ Mn) & Volume (Unit) Comparison, By Region
4.1.4.2. Market Share Comparison, By Region
4.1.4.3. Y-o-Y growth Comparison, By Region
4.1.5. 400 to 620 HP Market Size and Volume Forecast, 2012-2026
4.1.5.1. Revenue (US$ Mn) & Volume (Unit) Comparison, By Region
4.1.5.2. Market Share Comparison, By Region
4.1.5.3. Y-o-Y growth Comparison, By Region
4.2. Global Tractors Market Size and Volume Forecast By Mechanism Type, 2012-2026
4.2.1. Electric Market Size and Volume Forecast, 2012-2026
4.2.1.1. Revenue (US$ Mn) & Volume (Unit) Comparison, By Region
4.2.1.2. Market Share Comparison, By Region
4.2.1.3. Y-o-Y growth Comparison, By Region
4.2.2. Hydraulic Market Size and Volume Forecast, 2012-2026
4.2.2.1. Revenue (US$ Mn) & Volume (Unit) Comparison, By Region
4.2.2.2. Market Share Comparison, By Region
4.2.2.3. Y-o-Y growth Comparison, By Region
4.2.3. Hybrid Market Size and Volume Forecast, 2012-2026
4.2.3.1. Revenue (US$ Mn) & Volume (Unit) Comparison, By Region
4.2.3.2. Market Share Comparison, By Region
4.2.3.3. Y-o-Y growth Comparison, By Region
4.3. Global Tractors Market Size and Volume Forecast By Application Type, 2012-2026
4.3.1. Utility Tractors Market Size and Volume Forecast, 2012-2026
4.3.1.1. Revenue (US$ Mn) & Volume (Unit) Comparison, By Region
4.3.1.2. Market Share Comparison, By Region
4.3.1.3. Y-o-Y growth Comparison, By Region
4.3.2. Row Crop Tractor Market Size and Volume Forecast, 2012-2026
4.3.2.1. Revenue (US$ Mn) & Volume (Unit) Comparison, By Region
4.3.2.2. Market Share Comparison, By Region
4.3.2.3. Y-o-Y growth Comparison, By Region
4.3.3. Orchard Type Market Size and Volume Forecast, 2012-2026
4.3.3.1. Revenue (US$ Mn) & Volume (Unit) Comparison, By Region
4.3.3.2. Market Share Comparison, By Region
4.3.3.3. Y-o-Y growth Comparison, By Region
4.3.4. Industrial Tractor Market Size and Volume Forecast, 2012-2026
4.3.4.1. Revenue (US$ Mn) & Volume (Unit) Comparison, By Region
4.3.4.2. Market Share Comparison, By Region
4.3.4.3. Y-o-Y growth Comparison, By Region
4.3.5. Garden Tractor Market Size and Volume Forecast, 2012-2026
4.3.5.1. Revenue (US$ Mn) & Volume (Unit) Comparison, By Region
4.3.5.2. Market Share Comparison, By Region
4.3.5.3. Y-o-Y growth Comparison, By Region
4.3.6. Rotary Tillers Market Size and Volume Forecast, 2012-2026
4.3.6.1. Revenue (US$ Mn) & Volume (Unit) Comparison, By Region
4.3.6.2. Market Share Comparison, By Region
4.3.6.3. Y-o-Y growth Comparison, By Region
4.3.7. Implement Carrier Market Size and Volume Forecast, 2012-2026
4.3.7.1. Revenue (US$ Mn) & Volume (Unit) Comparison, By Region
4.3.7.2. Market Share Comparison, By Region
4.3.7.3. Y-o-Y growth Comparison, By Region
4.3.8. Earth Moving Tractors Market Size and Volume Forecast, 2012-2026
4.3.8.1. Revenue (US$ Mn) & Volume (Unit) Comparison, By Region
4.3.8.2. Market Share Comparison, By Region
4.3.8.3. Y-o-Y growth Comparison, By Region

And Continue…

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About the Author: Mohit Loshali

Mohit Loshali, an experienced campaigner, writes about the latest evolutions and trends in the automotive and allied domains. He has helped clients from across the globe with his thought-provoking research and analysis.

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