HOME Top Market Reports Farm Tractor Market by (Power Output (30, 31–100, 101–200, >200hp), Drive Type (2WD, 4WD, & Autonomous Tractor), Combines Market (Corn, Rice, Wheat, Soybean), Implements Market (Harvest, Hay, Plant & Fertilize, Plow & Cultivate, Spray) - Forecast to 2022

Farm Tractor Market by (Power Output (30, 31–100, 101–200, >200hp), Drive Type (2WD, 4WD, & Autonomous Tractor), Combines Market (Corn, Rice, Wheat, Soybean), Implements Market (Harvest, Hay, Plant & Fertilize, Plow & Cultivate, Spray) - Forecast to 2022

By: marketsandmarkets.com
Publishing Date: June 2017
Report Code: AT 2835

 

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With escalating demand for food owing to growing population, inadequate arable land, water scarcity, and degradation of soil fertility, the agriculture industry is facing concerns related to production. Due to industrialization, more agriculture lands are used for commercial purpose, resulting in population shift toward cities, limited availability of labor, and increased wages. To counter these concerns, mechanization trend is increasing to improve the efficiency of farmland. According to VDMA Economic Report 2015, China’s mechanization in agriculture increased to 61% in 2014 from 34% in 2004. The growth factors are a reduction in production time, improved quality, and cost saving. The agricultural equipment market is projected to grow at a CAGR of 5.31% from 2017 to 2022, to reach a market size of USD 139.41 Billion by 2022. The base year considered for the study is 2016, and forecast period is 2017 to 2022.

The primary objective of the study is to define, describe, and forecast the agricultural equipment market on the basis of farm tractors, combines, and implements at the regional level and provide detailed information regarding major factors that influence the market growth.

The bottom-up approach has been used to estimate the farm tractors market, by power output. The country-level tractor sales numbers are multiplied by country-level penetration of each category of power output. The country-level market, by volume, is multiplied by the country-level average selling price of farm tractors with each category of power output to get the country-level market, by value. The further addition of country-level to the regional level and then the summation of regional markets gives the farm tractors market, by power output, in value. A similar approach has been followed to derive the farm tractors market, by drive type & combines market by application.

The top-down approach has been used to estimate the size of the implements market, by function. It is derived by identifying the value of implements offered in agriculture industry globally. The regional penetration of each implement has been confirmed through primary sources, leading to the regional implements market.

The research methodology involves various secondary sources such as Association of Equipment Manufacturers (AEM), Verband Deutscher Maschinen- und Anlagenbau e.V. (VDMA), CEMA aisbl - European Agricultural Machinery, and China Agricultural Machinery Distribution Association (CAMDA), corporate filings (such as annual reports, investor presentations, and financial statements), business and industry magazines along with paid databases.

The figure below illustrates the break-up of the profile of industry experts who participated in primary discussions.

Farm Tractor Market

To know about the assumptions considered for the study, download the pdf brochure

The agricultural equipment market is dominated by a few globally established players such as Deere & Company (U.S.), CNH Industrial N.V. (U.K.), Kubota Corporation (Japan), AGCO Corporation (U.S.), and Claas KGaA mbH (Germany).

Target Audience

  • Agricultural Equipment (Farm tractors, Implements, & Combines) manufacturers
  • Agricultural equipment component suppliers
  • Agricultural equipment distributors
  • Connected solutions and other advanced technology providers to agriculture equipment industry
  • Agricultural equipment and component manufacturing associations
  • Government and regulatory authorities

Scope of the Report

  • Farm tractors Market, By Power Output
    • <30 hp
    • 31–100 hp
    • 101–200 hp
    • >200 hp
  • Farm tractors Market, By Drive Type & Region
    • Two-wheel Drive
    • Four-wheel Drive
  • Autonomous Tractors Market (Scenario Analysis)
    • Business As Usual (BAU)
    • Optimistic
    • Pessimistic
  • Implements Market, By Function & Region
    • Harvesting
    • Haying
    • Planting & fertilizing
    • Plowing & cultivating
    • Spraying
    • Others
  • Combines Market, By Application & Region
    • Corn
    • Rice
    • Soybean
    • Wheat
    • Others
  • Farm tractors Market, By Region
    • North America (Canada, Mexico, & the U.S.)
    • Europe (France, Germany, Italy, Turkey, U.K., & Rest of Europe)
    • Asia-Oceania (China, India, Japan, South Korea, & Rest of Asia-Oceania)
    • RoW (Brazil, Russia, & Rest of RoW)

Available Customizations

With given market data, MarketsandMarkets offers customizations in accordance with company’s specific needs.

  • Farm tractors Telematics Market, By Region
    • Asia-Oceania
    • Europe
    • North America
    • RoW
  • Combines Market, By Country
    • Asia-Oceania, By Country
      • China
      • Japan
      • India
    • Europe, By Country
      • Germany
      • U.K.
      • France
      • Italy
  • North America, By Country
    • U.S.
    • Canada
    • Mexico
  • RoW, By Country
    • Argentina
    • Brazil
    • South Africa
    • Russia

Table of Contents

1 Introduction (Page No. - 16)
    1.1 Objectives of the Study
    1.2 Market Definition
    1.3 Market Scope
           1.3.1 Markets Covered
           1.3.2 Years Considered for the Study
    1.4 Currency
    1.5 Limitations
    1.6 Stakeholders

2 Research Methodology (Page No. - 19)
    2.1 Research Data
    2.2 Secondary Data
    2.3 Primary Data
           2.3.1 Sampling Techniques & Data Collection Methods
           2.3.2 Primary Participants
    2.4 Factor Analysis
           2.4.1 Introduction
           2.4.2 Demand-Side Analysis
                    2.4.2.1 Increasing Population Around the Globe
           2.4.3 Supply-Side Analysis
                    2.4.3.1 Technological Advancements
                    2.4.3.2 Availability of Arable Land Per Person
    2.5 Market Estimation
           2.5.1 Bottom-Up Approach
           2.5.2 Top-Down Approach
           2.5.3 Market Breakdown & Data Triangulation
           2.5.4 Assumptions

3 Executive Summary (Page No. - 30)
    3.1 Introduction
    3.2 Agricultural Equipment Market, By Type
    3.3 Tractors Market, By Power Output
    3.4 Tractors Market, By Drive Type
    3.5 Combines Market, By Application
    3.6 Implements Market, By Function
    3.7 Autonomous Tractors Market (Scenario Analysis)

4 Premium Insights (Page No. - 37)
    4.1 Global Agricultural Equipment Market Trend, Forecast & Opportunity
    4.2 Agricultural Equipment Market, By Type
    4.3 Tractors Market, By Region
    4.4 Tractors Market, By Drive Type
    4.5 Tractors Market, By Power Output
    4.6 Combines Market, By Application
    4.7 Implements Market, By Function
    4.8 Autonomous Tractors Market, Optimistic vs Pessimistic Scenario

5 Market Overview (Page No. - 44)
    5.1 Introduction
    5.2 Market Segmentation
           5.2.1 Market Segmentation
    5.3 Market Dynamics
           5.3.1 Drivers
                    5.3.1.1 Increasing Mechanization Trend in Agriculture Industry
                               5.3.1.1.1 Decreasing Agriculture Employment & Increasing Labor Cost
                               5.3.1.1.2 Government Subsidies for Agriculture Equipment
                    5.3.1.2 Rising Need for Operational Efficiency and Profitability
           5.3.2 Restraints
                    5.3.2.1 High Cost of Agricultural Machinery
                    5.3.2.2 Growing Market for Used Equipment and Local/Unorganized Players
           5.3.3 Opportunities
                    5.3.3.1 Innovation in the Field of Autonomous Tractors
                    5.3.3.2 Increased Usage of Telematics & GPS Technology in Advanced Agricultural Equipment
                               5.3.3.2.1 Autopilot Technology
                               5.3.3.2.2 Swath Control and Variable Rate Technology (VRT)
                               5.3.3.2.3 Integration of Smartphone With Agricultural Equipment
           5.3.4 Challenges
                    5.3.4.1 Lack of Standardization in Advanced Agricultural Equipment
                    5.3.4.2 Attracting Small-Scale Farmers Toward Advanced Agricultural Equipment
    5.4 Porter’s Five Forces Analysis
           5.4.1 Agricultural Equipment Market
                    5.4.1.1 Porter’s Five Forces Analysis: Agricultural Equipment Market
                    5.4.1.2 Intensity of Competitive Rivalry
                    5.4.1.3 Threat of New Entrants
                    5.4.1.4 Threat of Substitutes
                    5.4.1.5 Bargaining Power of Suppliers
                    5.4.1.6 Bargaining Power of Buyers

6 Combines Market, By Application (Page No. - 61)
    6.1 Introduction
    6.2 Combines Market, By Application
    6.3 Combines Market, By Region
           6.3.1 Combine Harvesters for Corn Market, By Region
           6.3.2 Combine Harvesters for Rice Market, By Region
           6.3.3 Combine Harvesters for Soybean Market, By Region
           6.3.4 Combine Harvesters for Wheat Market, By Region
           6.3.5 Combine Harvesters for Other Crops Market

7 Implements Market, By Function (Page No. - 71)
    7.1 Introduction
    7.2 Implements Market, By Function
    7.3 Implements Market, By Region
           7.3.1 Harvesting Implements Market, By Region
           7.3.2 Haying Implements Market, By Region
           7.3.3 Planting & Fertilizing Implements Market, By Region
           7.3.4 Plowing & Cultivating Implements Market, By Region
           7.3.5 Spraying Implements Market, By Region
           7.3.6 Other Implements Market, By Region

8 Tractors Market, By Drive Type (Page No. - 78)
    8.1 Introduction
    8.2 Tractors Market, By Drive Type
           8.2.1 Two-Wheel Drive Tractors Market, By Region
           8.2.2 Four-Wheel Drive Tractor Market, By Region

9 Autonomous Tractors Market, Future Trends, & Scenario (2020-2027) (Page No. - 83)
    9.1 Introduction
    9.2 Autonomous Tractors Market - Normal Scenario
    9.3 Autonomous Tractors Market - Pessimistic Scenario
    9.4 Autonomous Tractors Market - Optimistic Scenario

10 Tractors Market, By Power Output & Region (Page No. - 87)
     10.1 Introduction
     10.2 Tractors Market, By Power Output
     10.3 Tractors Market, By Region
             10.3.1 Asia-Oceania Tractors Market, By Power Output & Country
                    Asia-Oceania - China, India, Japan, South Korea and Rest of Asia-Oceania
                        10.3.1.1 <30 hp Tractors Market, By Country
                        10.3.1.2 31-100 hp Tractors Market, By Country
                        10.3.1.3 101–200 hp Tractors Market, By Country
                        10.3.1.4 >200 hp Tractors Market, By Country
             10.3.2 Europe Tractors Market, By Power Output & Country
                    Europe- France, Germany, Italy, Turkey, U.K. and Rest of Europe
                        10.3.2.1 <30 hp Tractors Market, By Country
                        10.3.2.2 31–100 hp Tractors Market, By Country
                        10.3.2.3 101–200 hp Tractors Market, By Country
                        10.3.2.4 >200 hp Tractors Market, By Country
             10.3.3 North America Tractors Market, By Power Output & Country
                    North America - Canada, Mexico and U.S.
                        10.3.3.1 <30 hp Tractors Market, By Country
                        10.3.3.2 31–100 hp Tractors Market, By Country
                        10.3.3.3 101–200 hp Tractors Market, By Country
                        10.3.3.4 >200 hp Tractors Market, By Country
             10.3.4 Rest of the World Tractor Market, By Power Output & Country
                    Row - Brazil, Russia & Rest of RoW
                        10.3.4.1 <30 hp Tractors Market, By Country
                        10.3.4.2 31-100 hp Tractors Market, By Country
                        10.3.4.3 101-200 hp Tractors Market, By Country
                        10.3.4.4 >200 hp Tractors Market, By Country

11 Competitive Landscape (Page No. - 115)
     11.1 Introduction
             11.1.1 Vanguards
             11.1.2 Innovator
             11.1.3 Dynamic
             11.1.4 Emerging
             11.1.5 Vendor Dive Matrix - Agriculture Equipment Manufacturers
     11.2 Competitive Benchmarking
             11.2.1 Company-Wise Product Offering Analysis
             11.2.2 Company-Wise Business Strategy Analysis
*Top 15 Companies Analyzed for This Study are – AGCO Corporation, Alamo Group, Inc., Bucher Industries, Claas KGaA mbH, CNH Industrial N.V., Deere & Company, Escorts Ltd., Iseki & Co. Ltd., J C Bamford Excavators Ltd., Kubota Corporation, Mahindra & Mahindra, Ltd., Same Deutz-Fahr S.P.A, Tractors and Farm Equipment Limited, Yanmar Co., Ltd., Zetor Tractors A.S.
     11.3 Market Ranking Analysis: Agricultural Equipment Market

12 Company Profiles (Page No. - 120)
(Business Overview, Products Offered & Services Strategies, Key Insights, Recent Developments, MnM View)*
     12.1 AGCO Corporation
     12.2 Claas KGaA mbH
     12.3 CNH Industrial N.V.
     12.4 Mahindra & Mahindra Ltd.
     12.5 Deere & Company
     12.6 Iseki & Co., Ltd.
     12.7 J C Bamford Excavators Ltd.
     12.8 Kubota Corporation
     12.9 Same Deutz-Fahr Italia S.P.A.
     12.10 Yanmar Co., Ltd.
     12.11 Bucher Industries
     12.12 Escorts Ltd.
     12.13 Zetor Tractors A.S.
     12.14 Alamo Group, Inc.
     12.15 Tractors and Farm Equipment Limited

*Details on Business Overview, Products Offered & Services Strategies, Key Insights, Recent Developments, MnM View Might Not Be Captured in Case of Unlisted Companies.

13 Appendix (Page No. - 183)
     13.1 Insights of Industry Experts
     13.2 Additional Developments
     13.3 Discussion Guide
     13.4 Knowledge Store: Marketsandmarkets’ Subscription Portal
     13.5 Introducing RT: Real Time Market Intelligence
     13.6 Available Customizations
             13.6.1 Agriculture Tractors Telematics Market, By Region
                        13.6.1.1 Asia-Oceania
                        13.6.1.2 Europe
                        13.6.1.3 North America
                        13.6.1.4 RoW
             13.6.2 Agriculture Combines Market, By Country
                        13.6.2.1 Asia-Oceania, By Country
                                     13.6.2.1.1 China
                                     13.6.2.1.2 Japan
                                     13.6.2.1.3 India
                        13.6.2.2 Europe, By Country
                                     13.6.2.2.1 Germany
                                     13.6.2.2.2 U.K.
                                     13.6.2.2.3 France
                                     13.6.2.2.4 Italy
                        13.6.2.3 North America, By Country
                                     13.6.2.3.1 U.S.
                                     13.6.2.3.2 Canada
                                     13.6.2.3.3 Mexico
                        13.6.2.4 RoW, By Country
                                     13.6.2.4.1 Argentina
                                     13.6.2.4.2 Brazil
                                     13.6.2.4.3 South Africa
                                     13.6.2.4.4 Russia
             13.6.3 Detailed Analysis and Profiling of Additional Market Players (Upto 3)
     13.7 Related Reports
     13.8 Author Details


List of Tables (78 Tables)

Table 1 USD Exchange Rates
Table 2 Support From Regional Governments
Table 3 Average Selling Prices of Select Agricultural Equipment
Table 4 Key Players in Autonomous Tractors Market
Table 5 Porter’s Five Forces Analysis
Table 6 Combines Market: By Application, 2015–2022 (In '000 Units)
Table 7 Combines Market: By Application 2015–2022 (USD Million)
Table 8 Combines Market, By Region, 2015–2022 ('000 Units)
Table 9 Combines Market: By Region 2015–2022 (USD Million)
Table 10 Combine Harvesters for Corn Market, By Region, 2015–2022 ('000 Units)
Table 11 Combine Harvesters for Corn Market, By Region, 2015–2022 (USD Million)
Table 12 Combine Harvester for Rice Market, By Region 2015–2022 ( ‘000 Units)
Table 13 Combine Harvesters for Rice Market, By Region 2015–2022 (USD Million)
Table 14 Combine Harvesters for Soybean Market, By Region, 2015–2022 ('000 Units)
Table 15 Combine Harvesters for Soybean Market, By Region, 2015–2022 (USD Million)
Table 16 Combine Harvesters for Wheat Market, By Region, 2015–2022 ('000 Units)
Table 17 Combine Harvesters for Wheat Market, By Region, 2015–2022 (USD Million)
Table 18 Combine Harvesters for Other Crops Market, By Region, 2015–2022 ('000 Units)
Table 19 Combine Harvesters for Other Crops Market, By Region, 2015–2022 (USD Million)
Table 20 Implements Market, By Function, 2015–2022 (USD Million)
Table 21 Implements Market, By Region, 2015–2022 (USD Million)
Table 22 Harvesting Implements Market, By Region, 2015–2022 (USD Million)
Table 23 Haying Implements Market, By Region, 2015–2022 (USD Million)
Table 24 Planting & Fertilizing Implements Market, By Region, 2017–2022 (USD Million)
Table 25 Plowing & Cultivating Implements Market: By Region, 2015–2022 (USD Million)
Table 26 Spraying Implements Market: By Region, 2015–2022 (USD Million)
Table 27 Other Implements Market: By Region, 2015–2022 (USD Million)
Table 28 Tractors Market, By Drive Type, 2015–2022 ('000 Units)
Table 29 Tractors Market, By Drive Type 2015–2022 (USD Million)
Table 30 Two-Wheel Drive Tractors Market, By Region, 2015–2022 (In '000 Units)
Table 31 Two-Wheel Drive Tractors Market, By Region, 2015–2022 (USD Million)
Table 32 Four-Wheel Drive Tractors Market, By Region 2015–2022 (In '000 Units)
Table 33 Four-Wheel Drive Tractors Market, By Region, 2015–2022 (USD Million)
Table 34 Tractors Market, By Power Output, 2015–2022 (‘000 Units)
Table 35 Tractors Market, By Power Output, 2015–2022 (USD Million)
Table 36 Tractors Market, By Region, 2015–2022 (‘000 Units)
Table 37 Tractors Market, By Region, 2015–2022 (USD Million)
Table 38 Asia-Oceania: Tractors Market, By Power Output, 2015–2022 (‘000 Units)
Table 39 Asia-Oceania: Tractors Market, By Power Output, 2015–2022 (USD Million)
Table 40 Asia-Oceania: <30 hp Tractors Market, By Country, 2015–2022 (‘000 Units)
Table 41 Asia-Oceania: <30 hp Tractors Market, By Country, 2015–2022 (USD Million)
Table 42 Asia-Oceania: 31-100 hp Tractors Market, By Country, 2015–2022 (‘000 Units)
Table 43 Asia-Oceania: 31-100 hp Tractors Market, By Country, 2015–2022 (USD Million)
Table 44 Asia-Oceania: 101–200 hp Tractors Market, By Country, 2015–2022 (‘000 Units)
Table 45 Asia-Oceania: 101–200 hp Tractors Market, By Country, 2015–2022 (USD Million)
Table 46 Asia-Oceania: >200 hp Tractors Market, By Country, 2015–2022 (‘000 Units)
Table 47 Asia-Oceania: >200 hp Tractors Market, By Country, 2015–2022 (USD Million)
Table 48 Europe: Tractors Market, By Power Output, 2015–2022 (‘000 Units)
Table 49 Europe: Tractors Market, By Power Output, 2015–2022 (USD Million)
Table 50 Europe: <30 hp Tractors Market, By Country, 2015–2022 (‘000 Units)
Table 51 Europe: <30 hp Tractors Market, By Country, 2015–2022 (USD Million)
Table 52 Europe: 31–100 hp Tractors Market, By Country, 2015–2022 (‘000 Units)
Table 53 Europe: 31–100 hp Tractors Market, By Country, 2015–2022 (USD Million)
Table 54 Europe: 101–200 hp Tractors Market, By Country, 2015–2022 (‘000 Units)
Table 55 Europe: 101–200 hp Tractors Market, By Country, 2015–2022 (USD Million)
Table 56 Europe: >200 hp Tractors Market, By Country, 2015–2022 (‘000 Units)
Table 57 Europe: >200 hp Tractors Market, By Country, 2015–2022 (USD Million)
Table 58 North America: Tractors Market, By Power Output, 2015–2022 (‘000 Units)
Table 59 North America: Tractors Market, By Power Output, 2015–2022 (USD Million)
Table 60 North America <30 hp Tractors Market, By Country, 2015–2022 (‘000 Units)
Table 61 North America: <30 hp Tractors Market, By Country, 2015–2022 (USD Million)
Table 62 North America: 31–100 hp Tractors Market, By Country, 2015–2022 (‘000 Units)
Table 63 North America: 31–100 hp Tractors Market, By Country, 2015–2022 (USD Million)
Table 64 North America: 101–200 hp Tractors Market, By Country, 2015–2022 (‘000 Units)
Table 65 North America: 101–200 hp Tractors Market, By Country, 2015–2022 (USD Million)
Table 66 North America: >200 hp Tractors Market, By Country, 2015–2022 (‘000 Units)
Table 67 North America: >200 hp Tractors Market, By Country, 2015–2022 (USD Million)
Table 68 RoW: Tractors Market, By Power Output, 2015–2022 (‘000 Units)
Table 69 RoW: Tractors Market, By Power Output, 2015–2022 (USD Million)
Table 70 RoW: <30 hp Tractors Market, By Country, 2015–2022 (‘000 Units)
Table 71 RoW: <30 hp Tractors Market, By Country, 2015–2022 (USD Million)
Table 72 RoW: 31-100 hp Tractors Market, By Country, 2015–2022 (‘000 Units)
Table 73 RoW: 31-100 hp Tractors Market, By Country, 2015–2022 (USD Million)
Table 74 RoW: 101-200 hp Tractors Market, By Country, 2015–2022 (‘000 Units)
Table 75 RoW: 101-200 hp Tractors Market, By Country, 2015–2022 (USD Million)
Table 76 RoW: >200 hp Tractors Market, By Country, 2015–2022 (‘000 Units)
Table 77 RoW: >200 hp Tractors Market, By Country, 2015–2022 (USD Million)
Table 78 Agricultural Equipment Market Ranking: 2016
 
 
List of Figures (62 Figures)
 
Figure 1 Market Segmentation
Figure 2 Agricultural Equipment Market: Research Design
Figure 3 Research Design Model
Figure 4 Breakdown of Primary Interviews: By Company Type, Designation, & Region
Figure 5 Significant Growth in Global Population (Million), 2005–2015
Figure 6 Global Arable Land (Hectare Per Person)
Figure 7 Market Size Estimation Methodology: Bottom-Up Approach
Figure 8 Market Size Estimation Methodology: Top-Down Approach
Figure 9 Data Triangulation
Figure 10 Tractors are Estimated to Hold the Largest Market Size, 2015–2022 (USD Billion)
Figure 11 31-100 hp is Estimated to Hold the Largest Market Size, 2017–2022 (USD Billion)
Figure 12 Two-Wheel Drive is Estimated to Be the Largest Market, 2017–2022 (USD Million)
Figure 13 Combines for Rice Crop is Estimated to Be the Fastest Growing Market During the Forecast Period, 2017–2022 (USD Billion)
Figure 14 Plowing & Cultivating Implements Market is Projected to Grow at the Fastest Rate, 2017–2022 (USD Billion)
Figure 15 The Optimistic Scenario Holds the Largest Share for Autonomous Tractors, 2020–2027 (USD Billion)
Figure 16 Attractive Market Opportunities for Agricultural Equipment Market
Figure 17 Agriculture Tractors Holds Largest Share in Agricultural Equipment Market, 2017-2022 (USD Billion)
Figure 18 Asia-Oceania Leads the Market Share for Agricultural Tractors
Figure 19 Two-Wheel Drive Constitutes Major Share in the Tractors Market, 2017 (Value)
Figure 20 31 -100 hp Segment Expected to Dominate the Market of Tractors From 2017 – 2022 (USD Billion)
Figure 21 Combines for Wheat Crop Dominates the Combines Market, By Application, 2017 vs 2022 (USD Billion)
Figure 22 Harvesting Implements Holds the Largest Share of the Implements Market, 2017 (USD Billion)
Figure 23 Comparison of Optimistic vs Pessimistic Scenario for Autonomous Tractors, 2020 vs 2027 (USD Billion)
Figure 24 Agricultural Equipment Market: Market Dynamics
Figure 25 Employment in Agriculture (% of Total Employment)
Figure 26 Mobile Broadband Subscriptions Per 100 Inhabitants, 2010–2015
Figure 27 One Hectare of Land Per Person in Different Countries
Figure 28 Intensity of Competitive Rivalry in the Agricultural Equipment Market is Considered High
Figure 29 High Impact of Degree of Competition in the Agricultural Equipment Market
Figure 30 Medium Impact of Threat of New Entrants in the Agricultural Equipment Market
Figure 31 Low Impact of Threat of Substitutes in Agricultural Equipment Market
Figure 32 Medium Impact of Supplier Bargaining Power in Agricultural Equipment Market
Figure 33 Medium Impact of Buyer’s Bargaining Power in Agricultural Equipment Market
Figure 34 Combines Market Share, By Application, 2017 (USD Million)
Figure 35 Combines Market Share, By Region, 2017 (USD Million)
Figure 36 Implements Market, By Function, 2017 (USD Million)
Figure 37 Implements Market, By Region, 2017 (USD Million)
Figure 38 Tractors Market, By Drive Type
Figure 39 Autonomous Tractors Market (Normal), By Volume & Value, 2020 - 2027
Figure 40 Autonomous Tractors Market (Pessimistic), By Volume & Value, 2020 – 2027
Figure 41 Autonomous Tractors Market (Optimistic), By Volume & Value, 2020 - 2027
Figure 42 Tractors Market, 2017 vs 2022 (USD Million)
Figure 43 Asia-Oceania is Expected to Account for the Largest Market Share in the Global Tractors Market, 2017 (Value)
Figure 44 Asia-Oceania: Agricultural Equipment Market Snapshot
Figure 45 North America: Agricultural Tractors Market Snapshot
Figure 46 AGCO Corporation: Company Snapshot
Figure 47 Claas KGaA mbH: Company Snapshot
Figure 48 CNH Industrial N.V.: Company Snapshot
Figure 49 Mahindra & Mahindra Ltd. : Company Snapshot
Figure 50 Deere & Company: Company Snapshot
Figure 51 Iseki & Co., Ltd. : Company Snapshot
Figure 52 Kubota Corporation: Company Snapshot
Figure 53 Same Deutz-Fahr Italia S.P.A.: Company Snapshot
Figure 54 Same Deutz-Fahr Italia S.P.A.: Business Strategy Scorecard
Figure 55 Yanmar Co., Ltd.: Company Snapshot
Figure 56 Bucher Industries: Company Snapshot
Figure 57 Bucher Industries: Scorecard
Figure 58 Escorts Ltd.: Company Snapshot
Figure 59 Escorts Ltd.: Business Strategy Scorecard
Figure 60 Zetor Tractors A.S.: Company Snapshot
Figure 61 Zetor Tractors A.S.: Product Offering Scorecard
Figure 62 Alamo Group, Inc. : Company Snapshot

The Farm Tractors Market is projected to reach a market size of USD 65.57 Billion by 2022, at a CAGR of 5.24% during the forecast period & Agricultural Equipment Market is projected to grow at a CAGR of 5.31% during the forecast period, to reach a market size of USD 139.41 Billion by 2022. Although the agriculture industry plays a vital role in a country’s economy, a significant downturn has been noticed at a global level. According to World Bank data, the contribution of agriculture industry in global GDP declined from 4.36% to 3.91% between 2005 and 2015. This decline is also reflected in the agricultural equipment market, especially in North America and Europe. According to the Association of Equipment Manufacturers (AEM), the U.S. and Canada farm tractors market witnessed a decline of 0.72% and 12.47%, respectively in 2015, as compared to 2014. Further, the VDMA report mentioned that tractor sales in Europe declined to approximately 6.91% in 2014 from the previous year due to economic slowdown. However, the tractor sales of countries such as Argentina, Mexico, and Turkey had grown to 31.1%, 3.3%, and 4.1%, respectively in 2016. Hence, owing to the growth of farm tractors market in these countries and other factors such as rising mechanization and increasing productivity and efficiency requirements, the global agricultural equipment market is expected to witness a positive growth in the coming years.

The 31–100 hp segment is estimated to have the largest share in the farm tractors market, owing to the decrease in hectare land per farmer worldwide. According to World Bank Statistics, hectares farming land per farmer had declined from 0.218 to 0.196 during 2004 to 2014 globally. Also, 31–100 hp farm tractors are priced lower than high power farm tractors, and hence, are preferred in countries such as China, India, and Japan where the farming lands per farmer are smaller. A similar trend is projected to continue in the near future that further drives the 31–100 hp farm tractors market.

The combines market for wheat crop is estimated to hold the largest market share during the forecast period. The need to reduce crop production cost, eliminate crop losses, lower harvesting time, and increase productivity are some of the key factors that drive the growth of the combines market.

Along with the rise in global demand for food, the farmers are shifting toward higher mechanization through agricultural equipment. The established players are offering connected and precision farming methods such as tracking, monitoring, work scheduling, and navigation. Companies such as AGCO Corporation (U.S.), CNH Industrial N.V. (U.K.), and Deere and Company (U.S.) would shortly come up with autonomous tractors. The autonomous tractors use several technologies including GPS, LiDAR, and radar sensors to remotely handle equipment operation. In August 2016, Case IH (CNH Industrial N.V.) introduced its concept autonomous tractor in Farm Progress Show, Iowa (U.S.) to showcase its product capability. Currently, this concept is in the initial stage, and is likely to have a positive impact on the market in the coming years.

Asia-Oceania is estimated to be the largest and fastest growing market for agricultural equipment from 2017 to 2022. China and India hold a dominant position in this market owing to rising population, small arable land per farmer, and falling crop prices. Despite the slowdown in the global farm tractors market, India experienced a positive growth of 20.5% in 2016 as compared to 2015. Also, even though the tractor sales in China declined in recent years, it still holds the top positon in the global market as per the Agrievolution Tractors Market report (2015). Farmers are also using modern agricultural practices that are supported by government initiatives. In India, National Agricultural Development Program (NADP) provides subsidies ranging from 30%–50% on the purchase of agricultural equipment such as farm tractors, harvesters, sprayers, paddy transplanters, threshers, and tillers. Also, the Australian Government raised around USD 190.5 million for next eight years to 2021–22 to support R&D activities in the agriculture sector. All these factors have resulted in the growth of agricultural equipment market in this region.

Farm Tractor Market

The key factors restraining the growth of the agricultural equipment market are high agricultural machinery cost and increasing presence of unorganized players. Additionally, the growing market of used equipment would also have a negative impact on this market.

Some of key players in the agricultural equipment market include Deere & Company (U.S.), CNH Industrial N.V. (U.K.), Kubota Corporation (Japan), AGCO Corporation (U.S.), and Claas KGaA mbH (Germany). Deere & Company adopted the strategies of new product development and joint ventures to retain its market position. CNH Industrial followed policies of acquisition, expansion, and new product development to remain a prominent player in the market.

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