The “Tractors Market” 2019 report provides market size (value and volume), market share, growth rate by types, applications, and combines both qualitative and quantitative methods to make micro and macro forecasts in different regions or countries. Tractors Market report also aims to provide useful and comprehensive insights into current market trends and future growth scenarios. Tractors market report contains information like SWOT analysis, business highlights, strength, weakness, threats and opportunities of industry.
Top Manufacturers of Tractors Market Are:
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Scope of the Report:
Tractors Market Report Answers the Following Questions:
- What will the market size and the growth rate be in 2024?
- What are the key factors driving the global Tractors market?
- What are the key market trends impacting the growth of the global Tractors market?
- What are the challenges to market growth?
- Who are the key vendors in the global Tractors market?
- What are the market opportunities and threats faced by the vendors in the global Tractors market?
- Trending factors influencing the market shares of the relevant regions.
- What are the key outcomes of the five forces analysis of the global Tractors market?
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Key Market Trends:
Tractors above the 100 HP Range are Projected to Grow at a Fast Pace
The global market for tractors above the 100 HP range was valued at USD 19.83 billion in 2018. The segment is expected to register a CAGR of 5.39%, during the forecast period.
– Tractors above the 100 HP range, generally referred to as farm tractors, which can handle almost all agricultural tasks, are suitable for commercial farming. However, they generally come with a huge price tag.
– They possess four to six cylinders and have huge engines of volume, varying from 2500-6000 cc. Hydraulics are fitted to these tractors for lifting and clearing purposes in the fields. Telematics is also being introduced for these tractors on a significant scale for auto-steer systems.
– As productivity in the agriculture field continues to rise, so does the need for more power in tractors. Larger engines mean large-sized tractors, which might not be practical for the existing infrastructure that customers have. Also, tier-4 emission standards are adding a significant amount of cost to the prices of large-sized tractors.
– An easy way to add value to offset these additional costs without reaching the customers is to add more horsepower to the tractors without increasing their size. A lot of technological developments are being researched into for realizing this idea and tractor launches are being made.
– For example, AGCO tweaked the existing models and increased their power by around 35 HP. These new tractors were launched in the Massey Ferguson 8600 and Challenger MT600C series. John Deere also achieved a similar power increase of around 15 HP from the earlier 330 HP in its 8000 and 9000 series tractors. In 2018, the Mahindra brand launched three new tractor series: 6000, 7000, and 9000, in North America, taking up the maximum available power to 120 HP.
– Emerging economies, such as China, India, and Brazil, with a high governmental thrust for agricultural development, are poised to become the greatest markets for these farm tractors.
Asia-Pacific Dominates the Global Market
Asia-Pacific dominated the tractors market, and the region is expected to witness the fastest growth rate during the forecast period.
In the Asia-Pacific region, India is the biggest market for tractors. The country accounted for 38.15% of the market in 2018, followed by China (with 34.06%). The country is also expected to witness the fastest growth during the forecast period. At 157.35 million hectares, India holds the second-largest agricultural land in the world. The agricultural sector, which is the backbone of the Indian economy, contributes majorly to the countrys GDP. As of February 2018, it was estimated that over 58% of rural Indians had depended on agriculture for their livelihood, with the sector contributing around 17-18% to the countrys GDP. The consistent growth of the agricultural sector is driving the agricultural machinery market in the country. Government initiatives, such as Tractor Subsidy Scheme, Kisan Credit Card, and National Mission on Agricultural Mechanization, have been continuously contributing to the growth of the agricultural machinery market in the country. Additionally, easy availability and access to low-cost credit may also drive the market toward growth, in turn, helping the farmers to obtain high yield, invest in assets, and earn more income.
Currently, Indian farmers are getting used to farm mechanization at a faster rate as compared to the past, and this is reflected on the increased sales of agricultural machinery. The Indian tractor industry has emerged as the largest in the world, accounting for about one-third of the total global tractor production, as per the Economic Survey 2017-2018. In India, tractors comprise 85% of organized mechanization, while only 15% comes from machinery, primarily because of the landholding size in India becoming much smaller. However, the market will see a change happening over the next three to five years, once the government contract farming policy is rolled out.
Market Dynamics: –
- Drivers: (Developing regions and growing markets)
- Limitations: (Regional, Key Player facing Issues, Future Barriers for growth)
- Opportunities: (Regional, Growth Rate, Competitive, Consumption)
The report provides key statistics on the market status of the Tractors Market manufacturers and is a valuable source of guidance and direction for companies and individuals interested in the Tractors .
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- Analyzing the size of the Tractors market on the basis of value and volume.
- Accurately calculating the market segments, consumption, and other dynamic factors of different sections of the global Tractors market.
- Determining the key dynamics of the Tractors market.
- Highlighting significant trends of the Tractors market in terms of manufacture, revenue, and sales.
- Deeply summarizing top players of the Tractors market and showing how they compete in the industry.
- Studying industry processes and costs, product pricing, and various trends related to them.
- Displaying the performance of different regions and countries in the global Tractors market.
Detailed TOC of Tractors Market Report 2019-2024:
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Introduction to Market Drivers and Restraints
4.3 Market Drivers
4.4 Market Restraints
4.5 Industry Attractiveness – Porter’s Five Forces Analysis
4.5.1 Threat of New Entrants
4.5.2 Bargaining Power of Buyers/Consumers
4.5.3 Bargaining Power of Suppliers
4.5.4 Threat of Substitute Products
4.5.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION
5.1 By Horsepower
5.1.1 Below 40 HP
5.1.2 40 HP – 100 HP
5.1.3 Above 100 HP
5.2 By Drive Type
5.2.1 Two-wheel Drive
5.2.2 Four-wheel Drive/All-wheel Drive
5.3.1 North America
18.104.22.168 Rest of North America
22.214.171.124 Rest of Europe
126.96.36.199 Rest of Asia-Pacific
5.3.4 Rest of the World
188.8.131.52 South Africa
184.108.40.206 Other Countries
6 COMPETITIVE LANDSCAPE
6.1 Vendor Market Share
6.2 Mergers and Acquisitions
6.3 Company Profiles
6.3.1 Deere and Company
6.3.2 CNH Global NV (includes New Holland and Case IH)
6.3.3 AGCO Corporation (includes Massey Ferguson, Valtra, Fendt, and Challenger)
6.3.4 CLAAS KGaA mbH
6.3.5 Mahindra and Mahindra Corporation
6.3.6 Kubota Corporation
6.3.7 Escorts Group
6.3.8 Tractors and Farm Equipment Limited (TAFE)
6.3.9 Kuhn Group (Subsidiary of Bucher Industries)
6.3.10 Yanmar Company Limited
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
Name: Ajay More
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