Farm Equipment Market

Farm Equipment Market by Tractor Power Output (<30, 31-70, 71-130, 131-250, >250HP), Tractor Drive Type, Autonomous Tractor, Electric Tractor (Hybrid, Electric), Farm Equipment (Combine, Baler, Sprayer), Implement, Rental & Region - Global Forecast to 2027

Report Code: AT 2835 Aug, 2022, by marketsandmarkets.com

[349 Pages Report] The global farm equipment market is projected to grow from USD 111.8 billion in 2022 to USD 141.6 billion by 2027, at a CAGR of 4.8% during the forecast period. The farm mechanization has shown a significant growth in the recent past and top OEMs are too investing in the same, which would further drive the demand for agriculture equipment. Though the demand for farm equipment is growing in Europe, and North America, the Asia Oceania remains the key market.

Farm Equipment Market

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Market Dynamics

DRIVER: Government support with farm loan waivers/ credit finance

The implementation of farm loan waiver schemes encourages farmers to buy agriculture equipment. Governments launched various schemes in different parts of the world to relieve farmers from their loans and encourage farm mechanization. According to the Agricultural Policy Monitoring and Evaluation, 2019, conducted by Organisation for Economic Co-operation and Development (OECD), farm policies in 53 countries–all OECD, EU countries, and 12 key emerging economies – provided on average of USD 728 billion per year direct support to farmers from 2018-2020. For instance, the government of Maharashtra (India) announced the Mahatma Phule Farm Loan Waiver Scheme in December 2019. In March 2021, it also announced a scheme named Maharashtra Agro Business Network Project (Magnet) for small and marginal fruit and vegetable growers.

Government subsidies play an essential role in the agriculture sector of a country. For instance, the US Farm Service Agency (FSA) provides guaranteed and direct farm ownership and operating loans to family-size farmers who cannot obtain commercial credit from a bank, farm credit system institution, or other lenders. FSA loans can also be used to purchase land, livestock, equipment, feed, seed, and supplies. The US department of agriculture also announced various loan programs, including direct farm ownership down payment program. The maximum loan amount increased from USD 250,000 to USD 300,000, and the guaranteed amount on conservation loans increased from 75 to 80%. This has helped the farm equipment market to grow significantly.

RESTRAINT: Growth of rental market

The purchase of farm equipment such as tractors and harvesters is a major investment in agricultural activities and accounts for the maximum share of the global rental market. All the steps involved in designing, producing, and distributing the equipment require huge investments, which is reflected in the cost of the machinery made available to farmers. The inability of small farmers to invest a high amount result in the low penetration of farm equipment in emerging countries.

Farmers opt for renting farm machinery to increase productivity and turnaround time, which, in turn, increases the efficiency and profitability of the business. Renting farm equipment is cost-effective compared to purchasing the equipment on a standard loan from a financial institution. Thus, the global scarcity of farm labor and increasing labor wages worldwide have driven farm equipment rental services. The increasing adoption of advanced technologies in rental agriculture machinery plays a crucial role in improving operational efficiency and profitability. It helps small-scale farmers use high-priced farming equipment on a rental basis to produce a more efficient and enhanced variety of crops in less time.

Continuous R&D efforts have resulted in the development of advanced products capable of handling multiple tasks. Advanced machinery includes complex mechatronic systems that require specialized manufacturing and assembly processes. All the steps involved in designing, producing, and distributing the equipment require huge investments, which is reflected in the cost of the machinery made available to farmers. The farm equipment manufactuters are opting for mobile applications and renting the equipments through dealers. For instance, in February 2022, Sonalika Group providing the farm machinery and equipment on rent through Sonalika Agro Solutions App, through which farmers can rent the available advanced agricultural machinery according to their needs. In August 2021, Farmkart launches farm machinery rentals platform rent4farm. The rent4farm will help farmers rent high quality machinery and equipment at competitive rates. The inability of small farmers to invest a high amount contributes to the low penetration rate of farm equipment in developing countries. Farmers in emerging economies such as Asia-Oceania are reluctant to invest in expensive machinery. However, the adoption of farm equipment in North America and Europe is high due to the unavailability of labor and the high cost of farm labor. Manufacturers of agriculture equipment need to upgrade their products regularly, owing to the constantly changing emission norms, which increases the equipment cost. Thus, the high cost of agricultural machinery such as high horsepower (HP) tractors, combines, balers, and sprayers limit their sales and thereby slow down the growth of the farm equipment market, especially in emerging countries.

OPPORTUNITY: Precision agriculture

According to Economic Survey, Farm mechanization and crop productivity has a direct correlation as farm mechanization saves time and labor, reduces drudgery, cut down production cost in the long run, reduces postharvest losses and boosts crop output and farm income. The agriculture industry is under constant pressure to produce agricultural products to cater to the growing population, forcing farmers to focus on efficiency and productivity to drive business growth. Precision farming is becoming common among farmers who want to produce more with limited resources. This farming technique could effectively tackle the issue of high demand for food across geographies. This technique also allows farmers to improve their operational efficiency and increase production, thereby minimizing the gap between the supply and consumption of agricultural products. Effective use of agriculture machinery helps to increase productivity & production of output, undertake timely farm operations and enable the farmers to quickly rotate crops on the same land. Precision farming technology facilitates the efficient use of water, seeds, land, fertilizers, and agricultural equipment, which, in turn, improves the overall quantity and quality of yields.

The increasing R&D activities and launches of hybrid & electric tractors by several companies are expected to create growth opportunities for the agriculture sector. In August 2021, Solectrac launched the e70N tractor with 70 HP, 60 kWh electric tractor for USD 75,000. CNH Industrial’s Design Center displayed a STEYR Konzept hybrid tractor at Agritechnica 2019. John Deere showcased an autonomous tractor concept with a rated electric-power output of 500 kilowatts – about 680 horsepower at a European dealer meeting in 2019. In 2020, Kubota developed a fully electric driverless tractor known as the X tractor. This tractor was designed as part of the company's Agrirobo automated technology program. Proxecto Engineering Services (India) decided to venture into the farming territory with its flagship product, hybrid agri vehicle (HAV), scheduled in 2020 to help farmers in India. In October 2020, Fendt (Germany) launched the new 75-kW (100 hp.) electric tractor named Fendt e100 Vario with 10 hours operating capacity that can be recharged to 80% in just 40 minutes. Gridtractor (India) launched a tool to develop, implement, and maintain fleet electrification services for farms utilizing electric tractors and heavy farming equipment. The company helps the farmers integrate electric charging and vehicle to grid (V2G) technology into their agricultural operations.

CHALLENGE: Rapidly changing emission norms and mandates

CNH Industrial, John Deere, and AGCO have expressed concerns about emission regulations in different parts of the world. The implementation of emission norms may limit the sales of construction and agricultural machinery. With amendments in emission regulations, significant investments are required in R&D. Each market has its emission norms that increase complexity while designing components, mainly engines.

The Indian government implemented the BS Term IV regulation,in March 2022, the TREM IV emission norms are slated to be applicable for tractors with a capacity more than 50 HP. However, a big proportion of the overall industry (<50 HP) would continue to be governed by TREM IIIA norms, impacting only ~10% of the overall Indian tractor industry volumes. Thus, changing emission regulations to comply with government regulations may challenge the sale of tractors. Furthermore, It is expected that stricter emission norms for farm equipment that conform to Euro Stage IV may result in prices of these equipment being increased by 10-15%.

Farm Equipment Market Ecosystem

The ecosystem analysis highlights farm equipment market players, primarily represented by component manufacturers, manufacturers, and dealers.

Role of Companies in Farm Equipment Market Ecosystem

COMPANY

ROLE IN ECOSYSTEM

Cummins

Component Manufacturer

Deutz

Component Manufacturer

FPR Industrial

Component Manufacturer

Carraro

Component Manufacturer

YTO France

Component Manufacturer

ZF TRW

Component Manufacturer

Daedong

Component Manufacturer

Yanmar

Component Manufacturer

John Deere

Farm Equipment Manufacturer

Mahindra & Mahindra

Farm Equipment Manufacturer

AGCO Corporation

Farm Equipment Manufacturer

CLAAS

Farm Equipment Manufacturer

Kubota

Farm Equipment Manufacturer

TAFE

Farm Equipment Manufacturer

SDF Group

Farm Equipment Manufacturer

Yanmar

Farm Equipment Manufacturer

Zetor Tractors

Farm Equipment Manufacturer

JCB

Farm Equipment Manufacturer

SEMA Equipment Inc

Dealer

Farol

Dealer

Baldwin Tractor & Equipment

Dealer

RDO Equipment Co.

Dealer

Brandt Holdings

Dealer

Sterling

Dealer

Farm Equipment Headquarters, Inc.

Dealer

Reynolds

Dealer

Titan Machinery

Dealer

Forrester Farm Equipment

Dealer

Everglades Equipment Group

Dealer

31–70 HP segment estimated to be the largest market during the forecast period

The 31–70 HP segment is expected to command the largest share of the farm equipment market. The increasing farm mechanization largely driven by government policies such as loan waivers/schemes/policies is expected to drive the 31-70 HP market in emerging countries. The 31-70 HP tractors segment is estimated to contribute ~33% of total tractor sales in 2022. The increasing farm mechanization in emerging countries driven by government efforts is expected to drive the market. The rising demand for high-powered tractors and the growing network of dealers with proper marketing are other factors expected to boost the market globally.

Four wheel drive segment to grow at the fastest CAGR from 2022 to 2027

The demand for four-wheel drive tractors is expected to grow in the future with the changing requirements in farming activities such as covering a larger acre of land or the need to pull large-size implements. The availability of low-powered tractors with four-wheel drive is expected to be a major factor for their growing demand. John Deere Model 5050 D is a low-powered tractor that delivers 50 HP and is available in four-wheel drive. In 2021, Sonalika Tractors (India) launched its advanced Tiger DI 75 four-wheel drive tractor with CRDs (Common Rail Diesel System) technology. Sonalika has also introduced the Tiger DI 65 four-wheel drive tractor customized with twin benefits to deliver 65 HP power and an economy of 55 HP. Both the new models are available in 4W and 2W drive versions.

Farm Equipment Market Size, and Share

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Asia Oceania is estimated to be the largest market in 2022

The Asia Oceania region includes China, India, Japan, South Korea, Australia, and the rest of Asia Oceania for the market analysis.

In addition to high containerized transportation, factors such as increasing Gross Domestic Product (GDP), infrastructure investments, rising per capita income, growing inclination toward mechanization, and government initiatives for FDI have created more opportunities for the farming business, in turn driving the farm tractor market in the Asia Oceania region. Asia Oceania is expected to lead the farm tractor market during the forecast period. Countries considered under Asia Oceania are India, Japan, China, South Korea, Australia, and the Rest of Asia Oceania. The increasing farm mechanization driven by government efforts and subsidies/loan waivers is expected to drive farm tractor sales in India. The Rest of Asia Oceania covers countries like Vietnam, Australia, Malaysia, Singapore, Indonesia, and the Philippines.

Key Market Players

The farm equipment market is led by established players, such as John Deere (US), AGCO Corporation (US), CNH Industrial (Netherlands), Kubota Corporation (Japan), and CLAAS (Germany). These companies have adopted several strategies to gain traction in the market. They have expanded in various geographical locations through mergers & acquisitions, expansions, and entered into joint ventures/collaborations with other industry players to sustain their position in the market.

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Scope of the Report

Report Metric

Details

Base year considered for estimation

2021

Forecast period

2022–2027

Market Growth and Revenue Forecast

USD 141.6 Bn by 2027 at a CAGR of 4.8%

Top Players

John Deere (US), CNH Industrial (Netherlands), Kubota Corporation (Japan), AGCO Corporation (US), and CLAAS (Germany)

Fastest Growing Market

Europe

Largest Market

Asia Oceania

Forecast units

Volume (Units) and Value (USD Million)

Segments covered

Farm Tractor Market By Power Output, Farm Tractor Market By Drive Type, Farm Equipment Market, By Equipment Type, Implements Market, By Function, Farm Tractor Rental Market, By Power Output, Farm Equipment Rental Market, By Equipment Type, Farm Tractor Rental Market, By Drive Type, Autonomous Tractor, By Power Output, Electric Tractor Market, By Propulsion, Farm Equipment Rental Market By Region.

Farm Tractor Market By Power Output

<30 HP, 31–70 HP, 71–130 HP, 131–250 HP, and >250 HP

Farm Tractor Market By Drive Type

Two-Wheel and Four-Wheel

Farm Equipment Market, By Equipment Type

Cereal Combines, Non-Cereal Combines, Balers, Tractor-Mounted Sprayers, and Self-Propelled Sprayers

Implements Market, By Function

Plowing & Cultivating, Harvesting & Threshing, Sowing & Planting, Plant Protection & Fertilizing, and Others

Farm Tractor Rental Market, By Power Output

<30 HP, 31–70 HP, 71–130 HP, 131–250 HP, and >250 HP

Farm Tractor Rental Market, By Drive Type

Two-Wheel and Four-Wheel

Autonomous Tractor, By Power Output

<30 HP, 31-100 HP, and >100 HP

Electric Tractor Market, By Propulsion

Battery Electric and Hybrid Electric

Farm Equipment Rental Market, By Equipment Type

Tractors, Combines, Balers, Sprayers, and Others

By Region

Asia Oceania
North America
Europe
Rest of the World

Additional customization to be offered

Farm Equipment Market, By Power Type & Country
Electric Tractor Market, By Power Output & Country
Detailed Analysis and Profiling Of Additional Market Players (Up To 3)

Along with the given market data, MarketsandMarkets offers customizations in accordance with the company’s specific needs

The study segments the farm equipment market :

Farm Tractor Market, By Power Output:

  • <30 HP
  • 31–70 HP
  • 71–130 HP
  • 131–250 HP
  • >250 HP

Farm Tractor Market, By Drive Type

  • Two-wheel
  • Four-wheel

Farm Implements Market, By Function

  • Plowing & Cultivating
  • Sowing & Planting
  • Plant Protection & Fertilizing
  • Harvesting & Threshing
  • Others

Farm Equipment Market, By Equipment Type

  • Cereal Combines
  • Non-Cereal Combines
  • Balers
  • Tractor-mounted Sprayers
  • Self-propelled Sprayers

Farm Equipment Rental Market, By Equipment Type

  • Tractors
  • Combines
  • Sprayers
  • Balers
  • Others

Farm Tractor Rental Market, By Power Output

  • <30 HP
  • 31–70 HP
  • 71–130 HP
  • 131–250 HP
  • >250 HP

Farm Tractor Rental Market, By Drive Type

  • Two-wheel
  • Four-wheel

Autonomous Tractor Market, By Power Output

  • <30 HP
  • 31-100 HP
  • >100 HP

Electric Tractor Market, By Propulsion

  • Battery Electric
  • Hybrid Electric

By Region

  • Asia Oceania
  • North America
  • Europe
  • Rest of the World [RoW]

Recent Developments

  • In January 2022, John Deere revealed a fully autonomous 8R tractor. The new tractor features with TruSet-enabled chisel plow, GPS guidance system, and new advanced technologies including six pairs of stereo cameras enabling 360-degree obstacle detection and calculation of distance, and a deep neural network that classifies each pixel of each image in 100 milliseconds.
  • In November 2021, John Deere developed new material collection systems and mechanical grappleS for compact utility tractors. The New Frontier MG20F Mechanical Grapple offers a quick-attach solution for fast installation and features a 1,200-pound (544 kg) lift capacity.
  • In December 2021, New Holland Agriculture designed a Straddle Tractor to meet the demanding requirements of the narrow vineyards typical of the premium wine growing regions such as Champagne, Mιdoc, and Burgundy.
  • In August 20201, AGCO Corporation brand Massey Ferguson launched VE Series planters. The series consists of rigid and folding-frame planters to narrow transport and track planters that offer growers straightforward, dependable, durable planters to deliver consistent, accurate seed placement for optimum yields.
  • In November 2021, CLAAS developed new flagship TORION 1913 and TORION 2014 models. They feature more engine power, higher lift capacity, and an even greater loading height.

Frequently Asked Questions (FAQ):

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TABLE OF CONTENTS

1 INTRODUCTION (Page No. - 39)
    1.1 OBJECTIVES
    1.2 MARKET DEFINITION
           1.2.1 INCLUSIONS & EXCLUSIONS
    1.3 MARKET SCOPE
           1.3.1 YEARS CONSIDERED FOR THE STUDY
    1.4 CURRENCY CONSIDERED
    1.5 SUMMARY OF CHANGES
    1.6 STAKEHOLDERS

2 RESEARCH METHODOLOGY (Page No. - 44)
    2.1 RESEARCH DATA
           FIGURE 1 RESEARCH DESIGN
           FIGURE 2 RESEARCH METHODOLOGY MODEL
           2.1.1 SECONDARY DATA
           2.1.2 LIST OF KEY SECONDARY SOURCES TO ESTIMATE FARM EQUIPMENT MARKET
           2.1.3 KEY DATA FROM SECONDARY SOURCES
           2.1.4 PRIMARY DATA
                    FIGURE 3 BREAKDOWN OF PRIMARY INTERVIEWS: BY COMPANY TYPE, DESIGNATION, AND REGION
           2.1.5 LIST OF PRIMARY PARTICIPANTS
    2.2 MARKET ESTIMATION METHODOLOGY
           FIGURE 4 RESEARCH METHODOLOGY: HYPOTHESIS BUILDING
           2.2.1 BOTTOM-UP APPROACH
                    FIGURE 5 FARM TRACTOR MARKET SIZE: BOTTOM-UP APPROACH (POWER OUTPUT AND REGION)
           2.2.2 TOP-DOWN APPROACH
                    FIGURE 6 FARM TRACTOR MARKET SIZE: TOP-DOWN APPROACH (FARM TRACTOR, BY DRIVE TYPE)
                    FIGURE 7 FARM EQUIPMENT MARKET: RESEARCH DESIGN & METHODOLOGY
                    FIGURE 8 FARM EQUIPMENT MARKET: RESEARCH METHODOLOGY ILLUSTRATION OF JOHN DEERE REVENUE ESTIMATION
           2.2.3 FACTOR ANALYSIS FOR MARKET SIZING: DEMAND- AND SUPPLY-SIDE
    2.3 DATA TRIANGULATION
           FIGURE 9 DATA TRIANGULATION METHODOLOGY
    2.4 FACTOR ANALYSIS
    2.5 RESEARCH ASSUMPTIONS
           2.5.1 ASSUMPTIONS
                    TABLE 1 ASSUMPTIONS
    2.6 RESEARCH LIMITATIONS

3 EXECUTIVE SUMMARY (Page No. - 59)
    3.1 PRE- VS POST-COVID-19 SCENARIO
           FIGURE 10 PRE- & POST-COVID-19 SCENARIO: FARM EQUIPMENT MARKET, 2018–2027 (USD MILLION)
           TABLE 2 FARM EQUIPMENT MARKET: PRE- VS. POST-COVID-19 SCENARIO, 2018–2027 (USD MILLION)
    3.2 REPORT SUMMARY
           FIGURE 11 FARM EQUIPMENT MARKET, BY EQUIPMENT TYPE, 2022 VS. 2027 (USD MILLION)

4 PREMIUM INSIGHTS (Page No. - 63)
    4.1 ATTRACTIVE OPPORTUNITIES IN FARM EQUIPMENT MARKET
           FIGURE 12 GROWING MECHANIZATION IN FARMING AND CONTRACT FARMING TO DRIVE FARM EQUIPMENT MARKET
    4.2 FARM EQUIPMENT MARKET, BY EQUIPMENT TYPE
           FIGURE 13 CEREAL COMBINES MARKET EXPECTED TO GROW AT HIGHEST CAGR FROM 2022 TO 2027
    4.3 FARM TRACTOR MARKET, BY DRIVE TYPE
           FIGURE 14 FOUR WHEEL DRIVE MARKET EXPECTED TO GROW AT HIGHEST CAGR FROM 2022 TO 2027
    4.4 FARM TRACTOR MARKET, BY POWER OUTPUT
           FIGURE 15 31-70 HP TRACTORS PROJECTED TO LEAD MARKET
    4.5 FARM IMPLEMENTS MARKET, BY FUNCTION
           FIGURE 16 PLOWING & CULTIVATING PROJECTED TO LEAD MARKET
    4.6 AUTONOMOUS TRACTOR MARKET, BY POWER OUTPUT
           FIGURE 17 <30 HP TRACTORS EXPECTED TO DOMINATE AUTONOMOUS SEGMENT OWING TO MAJOR APPLICATIONS IN VINEYARDS
    4.7 ELECTRIC TRACTOR MARKET, BY PROPULSION
           FIGURE 18 BATTERY ELECTRIC TRACTORS EXPECTED TO DRIVE MARKET OWING TO BETTER ROI
    4.8 FARM EQUIPMENT RENTAL MARKET, BY EQUIPMENT TYPE
           FIGURE 19 TRACTORS SEGMENT TO COMMAND HIGHEST SHARE IN FARM EQUIPMENT RENTAL MARKET IN 2022
    4.9 FARM TRACTOR RENTAL MARKET, BY DRIVE TYPE
           FIGURE 20 TWO-WHEEL DRIVE SEGMENT TO COMMAND HIGHEST SHARE IN FARM TRACTOR RENTAL MARKET IN 2022
    4.10 FARM TRACTOR RENTAL MARKET, BY POWER OUTPUT
           FIGURE 21 31-70 HP TO DOMINATE FARM TRACTOR RENTAL MARKET FROM 2022–2027
    4.11 FARM EQUIPMENT MARKET, BY REGION
                    FIGURE 22 ASIA OCEANIA ACCOUNTED FOR LARGEST SHARE OF MARKET IN 2022

5 MARKET OVERVIEW (Page No. - 69)
    5.1 INTRODUCTION
    5.2 Market Dynamics


           FIGURE 23 FARM EQUIPMENT MARKET: Market Dynamics

           5.2.1 DRIVERS
                    5.2.1.1 Government support with farm loan waivers/credit finance
                               TABLE 3 SCHEMES LAUNCHED BY GOVERNMENT OF INDIA
                    5.2.1.2 OEM/sales incentives to support dealer service and rental operations
                    5.2.1.3 Contract farming
                               TABLE 4 CHARACTERISTICS OF TRANSACTIONAL AND CONTRACT FARMING
                               FIGURE 24 US FARMS WITH CONTRACTS, 2020
                               FIGURE 25 US VALUE OF PRODUCTION UNDER CONTRACT, 2020
                               TABLE 5 SAMPLE SIZE AND PREVALENCE OF CONTRACT FARMING, 2019
                    5.2.1.4 Increase in farm mechanization
                               FIGURE 26 MECHANIZATION RATE AND CONTRIBUTION OF AGRICULTURE INDUSTRY TO GDP IN MAJOR GEOGRAPHIES, 2020
                               TABLE 6 MECHANIZATION RATE IN INDIA FOR SEVERAL AGRICULTURAL ACTIVITIES, 2020
                               TABLE 7 PATTERN OF ASSISTANCE IN VARIOUS SCHEMES OF GOVERNMENT OF INDIA
                               TABLE 8 SUPPORT FROM REGIONAL GOVERNMENTS
           5.2.2 RESTRAINTS
                    5.2.2.1 Growth of rental market
                               TABLE 9 JOHN DEERE: HARVESTERS RENTAL RATES IN US, 2020 (USD)
                               TABLE 10 JOHN DEERE: RENTAL RATES IN US, 2020 (USD)
                    5.2.2.2 High equipment cost in emerging economies
                               TABLE 11 PRICES OF TRACTORS IN US, 2020 (USD)
                               TABLE 12 PRICES OF VARIOUS FARM EQUIPMENT IN US, 2020 (USD)
           5.2.3 OPPORTUNITIES
                    5.2.3.1 Precision agriculture
                    5.2.3.2 Increasing R&D and adoption of electric tractors
           5.2.4 CHALLENGES
                    5.2.4.1 Rapidly changing emission norms and mandates
    5.3 PORTER’S FIVE FORCES ANALYSIS
           TABLE 13 PORTER’S FIVE FORCES ANALYSIS
           FIGURE 27 PORTER’S FIVE FORCES ANALYSIS
           5.3.1 THREAT OF NEW ENTRANTS
           5.3.2 THREAT OF SUBSTITUTES
           5.3.3 BARGAINING POWER OF SUPPLIERS
           5.3.4 BARGAINING POWER OF BUYERS
           5.3.5 INTENSITY OF COMPETITIVE RIVALRY
    5.4 TRADE ANALYSIS
           TABLE 14 IMPORT TRADE DATA, KEY COUNTRIES, 2020 (USD)
           TABLE 15 EXPORT TRADE DATA, KEY COUNTRIES, 2020 (USD)
    5.5 TRENDS/DISRUPTIONS IMPACTING CUSTOMER BUSINESS
           FIGURE 28 REVENUE SHIFT FOR FARM EQUIPMENT MARKET
    5.6 CASE STUDIES
           5.6.1 CASE STUDY: TRUCKER AND CATTLE FARMER BENEFIT FROM TELESKID EFFICIENCY
           5.6.2 CASE STUDY: KUBOTA UNVEILED PROTOTYPE OF COMPLETE ELECTRIC AUTONOMOUS TRACTOR
           5.6.3 CASE STUDY: JOHN DEERE PREVIEWED X9 COMBINE HARVESTER
           5.6.4 CASE STUDY: STEYR UNVEILED HYBRID CONCEPT TRACTOR
           5.6.5 CASE STUDY: AGRIROBO UNMANNED AUTONOMOUS AGRICULTURAL MACHINERY
    5.7 PATENT ANALYSIS
    5.8 SUPPLY CHAIN ANALYSIS
           FIGURE 29 SUPPLY CHAIN ANALYSIS: FARM EQUIPMENT MARKET
    5.9 FARM EQUIPMENT MARKET ECOSYSTEM
           TABLE 16 ROLE OF COMPANIES IN FARM EQUIPMENT MARKET ECOSYSTEM
           5.9.1 REGULATORY ANALYSIS: EMISSION REGULATIONS
                    5.9.1.1 Farm Equipment
                               FIGURE 30 NON-ROAD MOBILE MACHINERY EMISSION REGULATION OUTLOOK, 2019–2025
           5.9.2 AVERAGE SELLING PRICE (ASP) ANALYSIS, BY POWER OUTPUT AND REGION
                    TABLE 17 ASP: <30 HP TRACTORS: PRICE RANGE ANALYSIS, BY REGION, 2021 (USD)
                    TABLE 18 ASP: 31-70 HP TRACTORS: PRICE RANGE ANALYSIS, BY REGION, 2021 (USD)
                    TABLE 19 ASP: 71-130 HP TRACTORS: PRICE RANGE ANALYSIS, BY REGION, 2021 (USD)
                    TABLE 20 ASP: 131-250 HP TRACTORS: PRICE RANGE ANALYSIS, BY REGION, 2021 (USD)
                    TABLE 21 ASP: >250 HP TRACTORS: PRICE RANGE ANALYSIS, BY REGION, 2021 (USD)
           5.9.3 FARM EQUIPMENT: TECHNOLOGY TREND
                    5.9.3.1 Farm Equipment Automation
                    5.9.3.2 Agriculture 5.0
                               TABLE 22 CROP DATA MANAGEMENT SOFTWARE APPLICATIONS
           5.9.4 FARM EQUIPMENT MARKET SCENARIO
                    FIGURE 31 FARM EQUIPMENT MARKET SCENARIO, 2018–2027 (USD BILLION)
                    5.9.4.1 Realistic scenario
                               TABLE 23 FARM EQUIPMENT MARKET (REALISTIC SCENARIO), BY REGION, 2018–2027 (USD BILLION)
                    5.9.4.2 Low impact scenario
                               TABLE 24 FARM EQUIPMENT MARKET (LOW IMPACT SCENARIO), BY REGION, 2018–2027 (USD BILLION)
                    5.9.4.3 High impact scenario
                               TABLE 25 FARM EQUIPMENT MARKET (HIGH IMPACT SCENARIO), BY REGION, 2018–2027 (USD BILLION)

6 RECOMMENDATIONS BY MARKETSANDMARKETS (Page No. - 99)
    6.1 ASIA OCEANIA EXPECTED TO DOMINATE FARM EQUIPMENT MARKET
    6.2 KEY FOCUS AREAS OF ELECTRIC FARM TRACTORS
    6.3 FOUR-WHEEL DRIVE TRACTORS FOR FUTURE APPLICATIONS - KEY FOCUS AREA
    6.4 GROWTH OF AUTONOMOUS TRACTORS IN COMING YEARS
    6.5 CONCLUSION

7 FARM TRACTOR MARKET, BY POWER OUTPUT (Page No. - 102)
    7.1 INTRODUCTION
           7.1.1 RESEARCH METHODOLOGY
           7.1.2 ASSUMPTIONS
           7.1.3 INDUSTRY INSIGHTS
                    FIGURE 32 FARM TRACTOR MARKET, BY POWER OUTPUT, 2022 VS. 2027 (USD MILLION)
                    TABLE 26 FARM TRACTOR MARKET, BY POWER OUTPUT, 2018–2021 (‘000 UNITS)
                    TABLE 27 FARM TRACTOR MARKET, BY POWER OUTPUT, 2022–2027 (‘000 UNITS)
                    TABLE 28 FARM TRACTOR MARKET, BY POWER OUTPUT, 2018–2021 (USD MILLION)
                    TABLE 29 FARM TRACTOR MARKET, BY POWER OUTPUT, 2022–2027 (USD MILLION)
    7.2 <30 HP
           7.2.1 SMALL FARM SIZE IN SEVERAL COUNTRIES TO DRIVE SEGMENT
                    TABLE 30 <30 HP: FARM TRACTOR MARKET, BY REGION, 2018–2021 (‘000 UNITS)
                    TABLE 31 <30 HP: FARM TRACTOR MARKET, BY REGION, 2022–2027 (‘000 UNITS)
                    TABLE 32 <30 HP: FARM TRACTOR MARKET, BY REGION, 2018–2021 (USD MILLION)
                    TABLE 33 <30 HP: FARM TRACTOR MARKET, BY REGION, 2022–2027 (USD MILLION)
    7.3 31–70 HP
           7.3.1 FAVORABLE GOVERNMENT SUBSIDIES AND LOAN WAIVERS
                    TABLE 34 31–70 HP: FARM TRACTOR MARKET, BY REGION, 2018–2021 (‘000 UNITS)
                    TABLE 35 31–70 HP: FARM TRACTOR MARKET, BY REGION, 2022–2027 (‘000 UNITS)
                    TABLE 36 31–70 HP: FARM TRACTOR MARKET, BY REGION, 2018–2021 (USD MILLION)
                    TABLE 37 31–70 HP: FARM TRACTOR MARKET, BY REGION, 2022–2027 (USD MILLION)
    7.4 71–130 HP
           7.4.1 SUITABLE FOR LARGE FARMLANDS
                    TABLE 38 71–130 HP: FARM TRACTOR MARKET, BY REGION, 2018–2021 (‘000 UNITS)
                    TABLE 39 71–130 HP: FARM TRACTOR MARKET, BY REGION, 2022–2027 (‘000 UNITS)
                    TABLE 40 71–130 HP: FARM TRACTOR MARKET, BY REGION, 2018–2021 (USD MILLION)
                    TABLE 41 71–130 HP: FARM TRACTOR MARKET, BY REGION, 2022–2027 (USD MILLION)
    7.5 131–250 HP
           7.5.1 EUROPE - LEADING MARKET FOR 131–250 HP TRACTORS
                    TABLE 42 131–250 HP: FARM TRACTOR MARKET, BY REGION, 2018–2021 (‘000 UNITS)
                    TABLE 43 131–250 HP: FARM TRACTOR MARKET, BY REGION, 2022–2027 (‘000 UNITS)
                    TABLE 44 131–250 HP: FARM TRACTOR MARKET, BY REGION, 2018–2021 (USD MILLION)
                    TABLE 45 131–250 HP: FARM TRACTOR MARKET, BY REGION, 2022–2027 (USD MILLION)
    7.6 >250 HP
           7.6.1 ESSENTIAL IN ORGANIZED FARMING ACTIVITIES
                    TABLE 46 >250 HP: FARM TRACTOR MARKET, BY REGION, 2018–2021 (‘000 UNITS)
                    TABLE 47 >250 HP: FARM TRACTOR MARKET, BY REGION, 2022–2027 (‘000 UNITS)
                    TABLE 48 >250 HP: FARM TRACTOR MARKET, BY REGION, 2018–2021 (USD MILLION)
                    TABLE 49 >250 HP: FARM TRACTOR MARKET, BY REGION, 2022–2027 (USD MILLION)

8 FARM TRACTOR MARKET, BY DRIVE TYPE (Page No. - 114)
    8.1 INTRODUCTION
           8.1.1 RESEARCH METHODOLOGY
           8.1.2 ASSUMPTIONS
           8.1.3 INDUSTRY INSIGHTS
                    FIGURE 33 FARM TRACTOR MARKET, BY DRIVE TYPE, 2022 VS. 2027 (USD MILLION)
                    TABLE 50 FARM TRACTOR MARKET, BY DRIVE TYPE, 2018–2021 (‘000 UNITS)
                    TABLE 51 FARM TRACTOR MARKET, BY DRIVE TYPE, 2022–2027 (‘000 UNITS)
                    TABLE 52 FARM TRACTOR MARKET, BY DRIVE TYPE, 2018–2021 (USD MILLION)
                    TABLE 53 FARM TRACTOR MARKET, BY DRIVE TYPE, 2022–2027 (USD MILLION)
    8.2 TWO-WHEEL DRIVE
           8.2.1 SUITABLE FOR SOWING, PASTURE TOPPING, AND FERTILIZER APPLICATION
                    TABLE 54 TWO-WHEEL DRIVE: FARM TRACTOR MARKET, BY REGION, 2018–2021 (‘000 UNITS)
                    TABLE 55 TWO-WHEEL DRIVE: FARM TRACTOR MARKET, BY REGION, 2022–2027 (‘000 UNITS)
                    TABLE 56 TWO-WHEEL DRIVE: FARM TRACTOR MARKET, BY REGION, 2018–2021 (USD MILLION)
                    TABLE 57 TWO-WHEEL DRIVE: FARM TRACTOR MARKET, BY REGION, 2022–2027 (USD MILLION)
    8.3 FOUR-WHEEL DRIVE
           8.3.1 INCREASING LAUNCHES OF LOW-POWERED FOUR-WHEEL DRIVE TRACTORS
                    TABLE 58 FOUR-WHEEL DRIVE: FARM TRACTOR MARKET, BY REGION, 2018–2021 (‘000 UNITS)
                    TABLE 59 FOUR-WHEEL DRIVE: FARM TRACTOR MARKET, BY REGION, 2022–2027 (‘000 UNITS)
                    TABLE 60 FOUR-WHEEL DRIVE: FARM TRACTOR MARKET, BY REGION, 2018–2021 (USD MILLION)
                    TABLE 61 FOUR-WHEEL DRIVE: FARM TRACTOR MARKET, BY REGION, 2022–2027 (USD MILLION)

9 FARM EQUIPMENT MARKET, BY EQUIPMENT TYPE (Page No. - 121)
    9.1 INTRODUCTION
           9.1.1 RESEARCH METHODOLOGY
           9.1.2 ASSUMPTIONS
           9.1.3 INDUSTRY INSIGHTS
                    FIGURE 34 FARM EQUIPMENT MARKET, BY EQUIPMENT TYPE, 2022 VS. 2027 (USD MILLION)
                    TABLE 62 FARM EQUIPMENT MARKET, BY EQUIPMENT TYPE, 2018–2021 (‘000 UNITS)
                    TABLE 63 FARM EQUIPMENT MARKET, BY EQUIPMENT TYPE, 2022–2027 (‘000 UNITS)
                    TABLE 64 FARM EQUIPMENT MARKET, BY EQUIPMENT TYPE, 2018–2021 (USD MILLION)
                    TABLE 65 FARM EQUIPMENT MARKET, BY EQUIPMENT TYPE, 2022–2027 (USD MILLION)
    9.2 CEREAL COMBINES
           9.2.1 INCREASING FARM MECHANIZATION TO DRIVE SEGMENT
                    TABLE 66 CEREAL COMBINES MARKET, BY REGION, 2018–2021 (‘000 UNITS)
                    TABLE 67 CEREAL COMBINES MARKET, BY REGION, 2022–2027 (‘000 UNITS)
                    TABLE 68 CEREAL COMBINES MARKET, BY REGION, 2018–2021 (USD MILLION)
                    TABLE 69 CEREAL COMBINES MARKET, BY REGION, 2022–2027 (USD MILLION)
    9.3 NON-CEREAL COMBINES
           9.3.1 IMPROVED SILAGE QUALITY TO DRIVE DEMAND FOR FORAGE HARVESTERS
                    TABLE 70 NON-CEREAL COMBINES MARKET, BY REGION, 2018–2021 (‘000 UNITS)
                    TABLE 71 NON-CEREAL COMBINES MARKET, BY REGION, 2022–2027 (‘000 UNITS)
                    TABLE 72 NON-CEREAL COMBINES MARKET, BY REGION, 2018–2021 (USD MILLION)
                    TABLE 73 NON-CEREAL COMBINES MARKET, BY REGION, 2022–2027 (USD MILLION)
    9.4 BALERS
           9.4.1 MINIMAL WASTAGE AND HIGH PRODUCTIVITY
                    TABLE 74 BALERS MARKET, BY REGION, 2018–2021 (‘000 UNITS)
                    TABLE 75 BALERS MARKET, BY REGION, 2022–2027 (‘000 UNITS)
                    TABLE 76 BALERS MARKET, BY REGION, 2018–2021 (USD MILLION)
                    TABLE 77 BALERS MARKET, BY REGION, 2022–2027 (USD MILLION)
    9.5 SELF-PROPELLED SPRAYERS
           9.5.1 LARGE-SCALE DEMAND FOR FERTILIZERS TO BOOST DEMAND
                    TABLE 78 SELF-PROPELLED SPRAYERS MARKET, BY REGION, 2018–2021 (‘000 UNITS)
                    TABLE 79 SELF-PROPELLED SPRAYERS MARKET, BY REGION, 2022–2027 (‘000 UNITS)
                    TABLE 80 SELF-PROPELLED SPRAYERS MARKET, BY REGION, 2018–2021 (USD MILLION)
                    TABLE 81 SELF-PROPELLED SPRAYERS MARKET, BY REGION, 2022–2027 (USD MILLION)
    9.6 TRACTOR-MOUNTED SPRAYERS
           9.6.1 USED IN SMALL AND MID-SIZED FARMS FOR BETTER MANEUVERABILITY
                    TABLE 82 TRACTOR-MOUNTED SPRAYERS MARKET, BY REGION, 2018–2021 (‘000 UNITS)
                    TABLE 83 TRACTOR-MOUNTED SPRAYERS MARKET, BY REGION, 2022–2027 (‘000 UNITS)
                    TABLE 84 TRACTOR-MOUNTED SPRAYERS MARKET, BY REGION, 2018–2021 (USD MILLION)
                    TABLE 85 TRACTOR-MOUNTED SPRAYERS MARKET, BY REGION, 2022–2027 (USD MILLION)

10 FARM IMPLEMENTS MARKET, BY FUNCTION (Page No. - 134)
     10.1 INTRODUCTION
             10.1.1 RESEARCH METHODOLOGY
             10.1.2 ASSUMPTIONS
             10.1.3 INDUSTRY INSIGHTS
                       FIGURE 35 IMPLEMENTS MARKET, BY FUNCTION, 2022 VS. 2027 (USD MILLION)
                       TABLE 86 IMPLEMENTS MARKET, BY FUNCTION, 2018–2021 (USD MILLION)
                       TABLE 87 IMPLEMENTS MARKET, BY FUNCTION, 2022–2027 (USD MILLION)
     10.2 PLOWING & CULTIVATING
             10.2.1 INCREASE POROSITY OF SOIL AND ENHANCE WATER ABSORPTION
                       TABLE 88 PLOWING & CULTIVATING MARKET, BY REGION, 2018–2021 (USD MILLION)
                       TABLE 89 PLOWING & CULTIVATING MARKET, BY REGION, 2022–2027 (USD MILLION)
     10.3 SOWING & PLANTING
             10.3.1 REDUCES OVERALL COSTS INCURRED BY FARMERS
                       TABLE 90 SOWING & PLANTING MARKET, BY REGION, 2018–2021 (USD MILLION)
                       TABLE 91 SOWING & PLANTING MARKET, BY REGION, 2022–2027 (USD MILLION)
     10.4 PLANT PROTECTION & FERTILIZING
             10.4.1 INCREASING CROP PRODUCTION AND ENHANCED FOOD QUALITY
                       TABLE 92 PLANT PROTECTION & FERTILIZING MARKET, BY REGION, 2018–2021 (USD MILLION)
                       TABLE 93 PLANT PROTECTION & FERTILIZING MARKET, BY REGION, 2022–2027 (USD MILLION)
     10.5 HARVESTING & THRESHING
             10.5.1 HIGH DEMAND IN EMERGING ECONOMIES
                       TABLE 94 HARVESTING & THRESHING MARKET, BY REGION, 2018–2021 (USD MILLION)
                       TABLE 95 HARVESTING & THRESHING MARKET, BY REGION, 2022–2027 (USD MILLION)
     10.6 OTHER IMPLEMENTS
             10.6.1 SPECIFIC FARMING APPLICATIONS TO DRIVE DEMAND
                       TABLE 96 OTHER IMPLEMENTS MARKET, BY REGION, 2018–2021 (USD MILLION)
                       TABLE 97 OTHER IMPLEMENTS MARKET, BY REGION, 2022–2027 (USD MILLION)

11 FARM EQUIPMENT RENTAL MARKET, BY EQUIPMENT TYPE (Page No. - 143)
     11.1 INTRODUCTION
             11.1.1 RESEARCH METHODOLOGY
             11.1.2 ASSUMPTIONS
             11.1.3 INDUSTRY INSIGHTS
                       FIGURE 36 FARM EQUIPMENT RENTAL MARKET, BY EQUIPMENT TYPE, 2022 VS 2027 (USD MILLION)
                       TABLE 98 FARM EQUIPMENT RENTAL MARKET, BY EQUIPMENT TYPE, 2018–2021 (USD MILLION)
                       TABLE 99 FARM EQUIPMENT RENTAL MARKET, BY EQUIPMENT TYPE, 2022–2027 (USD MILLION)
     11.2 TRACTORS
             11.2.1 INCREASING COLLABORATION BETWEEN OEMS AND APPLICATION COMPANIES
                       TABLE 100 TRACTORS RENTAL MARKET, BY REGION, 2018–2021 (USD MILLION)
                       TABLE 101 TRACTORS RENTAL MARKET, BY REGION, 2022–2027 (USD MILLION)
     11.3 COMBINES
             11.3.1 DEMAND FOR HIGHER PRODUCTIVITY EXPECTED TO DRIVE MARKET
                       TABLE 102 COMBINES RENTAL MARKET, BY REGION, 2018–2021 (USD MILLION)
                       TABLE 103 COMBINES RENTAL MARKET, BY REGION, 2022–2027 (USD MILLION)
     11.4 SPRAYERS
             11.4.1 BETTER EFFICIENCY IN FARM OPERATIONS
                       TABLE 104 SPRAYERS RENTAL MARKET, BY REGION, 2018–2021 (USD MILLION)
                       TABLE 105 SPRAYERS RENTAL MARKET, BY REGION, 2022–2027 (USD MILLION)
     11.5 BALERS
             11.5.1 INCREASING PREFERENCE FOR ROUND BALERS WITH PRE-CUTTING SYSTEMS
                       TABLE 106 BALERS RENTAL MARKET, BY REGION, 2018–2021 (USD MILLION)
                       TABLE 107 BALERS RENTAL MARKET, BY REGION, 2022–2027 (USD MILLION)
     11.6 OTHER EQUIPMENT
             11.6.1 HIGH COST OF EQUIPMENT TO DRIVE FARMERS TO RENT OTHER EQUIPMENT
                       TABLE 108 OTHER EQUIPMENT RENTAL MARKET, BY REGION, 2018–2021 (USD MILLION)
                       TABLE 109 OTHER EQUIPMENT RENTAL MARKET, BY REGION, 2022–2027 (USD MILLION)

12 FARM TRACTOR RENTAL MARKET, BY POWER OUTPUT (Page No. - 152)
     12.1 INTRODUCTION
             12.1.1 RESEARCH METHODOLOGY
             12.1.2 ASSUMPTIONS
             12.1.3 INDUSTRY INSIGHTS
                       FIGURE 37 FARM TRACTOR RENTAL MARKET, BY POWER OUTPUT, 2022 VS. 2027 (USD MILLION)
                       TABLE 110 FARM TRACTOR RENTAL MARKET, BY POWER OUTPUT, 2018–2021 (USD MILLION)
                       TABLE 111 FARM TRACTOR RENTAL MARKET, BY POWER OUTPUT, 2022–2027 (USD MILLION)
     12.2 <30 HP
             12.2.1 DEMAND FOR UTILITY/COMPACT TRACTORS IS EXPECTED TO DRIVE <30 HP RENTAL MARKET
                       TABLE 112 <30 HP: FARM TRACTOR RENTAL MARKET, BY REGION, 2018–2021 (USD MILLION)
                       TABLE 113 <30 HP: FARM TRACTOR RENTAL MARKET, BY REGION, 2022–2027 (USD MILLION)
     12.3 31–70 HP
             12.3.1 MODERATELY POWERED AND ARE EASY TO USE
                       TABLE 114 31–70 HP: FARM TRACTOR RENTAL MARKET, BY REGION, 2018–2021 (USD MILLION)
                       TABLE 115 31–70 HP: FARM TRACTOR RENTAL MARKET, BY REGION, 2022–2027 (USD MILLION)
     12.4 71–130 HP
             12.4.1 AMERICAS - LARGEST RENTAL MARKET FOR FARM TRACTORS WITH 71-130 HP
                       TABLE 116 71–130 HP: FARM TRACTOR RENTAL MARKET, BY REGION, 2018–2021 (USD MILLION)
                       TABLE 117 71–130 HP: FARM TRACTOR RENTAL MARKET, BY REGION, 2022–2027 (USD MILLION)
     12.5 131–250 HP
             12.5.1 HIGH DEMAND IN EUROPE TO PERFORM LARGE-SCALE AGRICULTURAL OPERATIONS
                       TABLE 118 131–250 HP: FARM TRACTOR RENTAL MARKET, BY REGION, 2018–2021 (USD MILLION)
                       TABLE 119 131–250 HP: FARM TRACTOR RENTAL MARKET, BY REGION, 2022–2027 (USD MILLION)
     12.6 >250 HP
             12.6.1 INCREASING DEMAND FOR COMMERCIAL FARMING EXPECTED TO DRIVE >250 HP MARKET
                       TABLE 120 >250 HP: FARM TRACTOR RENTAL MARKET, BY REGION, 2018–2021 (USD MILLION)
                       TABLE 121 >250 HP: FARM TRACTOR RENTAL MARKET, BY REGION, 2022–2027 (USD MILLION)

13 FARM TRACTOR RENTAL MARKET, BY DRIVE TYPE (Page No. - 161)
     13.1 INTRODUCTION
             13.1.1 RESEARCH METHODOLOGY
             13.1.2 ASSUMPTIONS
             13.1.3 INDUSTRY INSIGHTS
                       FIGURE 38 FARM TRACTOR RENTAL MARKET, BY DRIVE TYPE, 2022–2027 (USD MILLION)
                       TABLE 122 FARM TRACTOR RENTAL MARKET, BY DRIVE TYPE, 2018–2021 (USD MILLION)
                       TABLE 123 FARM TRACTOR RENTAL MARKET, BY DRIVE TYPE, 2022–2027 (USD MILLION)
     13.2 TWO-WHEEL DRIVE
             13.2.1 INCREASED DEMAND FOR RENTAL SERVICES IN EMERGING COUNTRIES EXPECTED TO DRIVE 2WD RENTAL MARKET
                       TABLE 124 TWO-WHEEL DRIVE TRACTOR RENTAL MARKET, BY REGION, 2018–2021 (USD MILLION)
                       TABLE 125 TWO-WHEEL DRIVE TRACTOR RENTAL MARKET, BY REGION, 2022–2027 (USD MILLION)
     13.3 FOUR-WHEEL DRIVE
             13.3.1 GROWING DEMAND FOR HIGH-POWERED TRACTORS EXPECTED TO DRIVE THIS MARKET
                       TABLE 126 FOUR-WHEEL DRIVE TRACTOR RENTAL MARKET, BY REGION, 2018–2021 (USD MILLION)
                       TABLE 127 FOUR-WHEEL DRIVE TRACTOR RENTAL MARKET, BY REGION, 2022–2027 (USD MILLION)

14 AUTONOMOUS TRACTOR MARKET, BY POWER OUTPUT (Page No. - 167)
     14.1 INTRODUCTION
             14.1.1 RESEARCH METHODOLOGY
             14.1.2 ASSUMPTIONS
             14.1.3 INDUSTRY INSIGHTS
                       FIGURE 39 AUTONOMOUS TRACTOR MARKET, BY POWER OUTPUT, 2022–2030 (USD MILLION)
                       TABLE 128 AUTONOMOUS TRACTOR MARKET, BY POWER OUTPUT, 2022–2025 (‘000 UNITS)
                       TABLE 129 AUTONOMOUS TRACTOR MARKET, BY POWER OUTPUT, 2026–2030 (‘000 UNITS)
                       TABLE 130 AUTONOMOUS TRACTOR MARKET, BY POWER OUTPUT, 2022–2025 (USD MILLION)
                       TABLE 131 AUTONOMOUS TRACTOR MARKET, BY POWER OUTPUT, 2026–2030 (USD MILLION)
     14.2 <30 HP
             14.2.1 SMALLER FARM SIZES EXPECTED TO DRIVE DEMAND IN ASIA OCEANIA
                       TABLE 132 <30 HP: AUTONOMOUS TRACTOR MARKET, BY REGION, 2022–2025 (‘000 UNITS)
                       TABLE 133 <30 HP: AUTONOMOUS TRACTOR MARKET, BY REGION, 2026–2030 (‘000 UNITS)
                       TABLE 134 <30 HP: AUTONOMOUS TRACTOR MARKET, BY REGION, 2022–2025 (USD MILLION)
                       TABLE 135 <30 HP: AUTONOMOUS TRACTOR MARKET, BY REGION, 2026–2030 (USD MILLION)
     14.3 31–100 HP
             14.3.1 DEMAND DRIVEN BY COMMERCIAL FARMING WITH LARGE FARM SIZES
                       TABLE 136 31-100 HP: AUTONOMOUS TRACTOR MARKET, BY REGION, 2022–2025 (‘000 UNITS)
                       TABLE 137 31-100 HP: AUTONOMOUS TRACTOR MARKET, BY REGION, 2026–2030 (‘000 UNITS)
                       TABLE 138 31-100 HP: AUTONOMOUS TRACTOR MARKET, BY REGION, 2022–2025 (USD MILLION)
                       TABLE 139 31-100 HP: AUTONOMOUS TRACTOR MARKET, BY REGION, 2026–2030 (USD MILLION)
     14.4 >100 HP
             14.4.1 INCREASING POPULARITY OF COMMERCIAL FARMING TO DRIVE SEGMENT
                       TABLE 140 >100 HP: AUTONOMOUS TRACTOR MARKET, BY REGION, 2022–2025 (‘000 UNITS)
                       TABLE 141 >100 HP: AUTONOMOUS TRACTOR MARKET, BY REGION, 2026–2030 (‘000 UNITS)
                       TABLE 142 >100 HP: AUTONOMOUS TRACTOR MARKET, BY REGION, 2022–2025 (USD MILLION)
                       TABLE 143 >100 HP: AUTONOMOUS TRACTOR MARKET, BY REGION, 2026–2030 (USD MILLION)

15 ELECTRIC TRACTOR MARKET, BY PROPULSION (Page No. - 176)
     15.1 INTRODUCTION
             15.1.1 RESEARCH METHODOLOGY
             15.1.2 ASSUMPTIONS
             15.1.3 INDUSTRY INSIGHTS
                       FIGURE 40 ELECTRIC TRACTOR MARKET, BY PROPULSION, 2022–2027 (USD MILLION)
                       TABLE 144 ELECTRIC TRACTOR MARKET, BY PROPULSION, 2018–2021 (UNITS)
                       TABLE 145 ELECTRIC TRACTOR MARKET, BY PROPULSION, 2022–2027 (UNITS)
                       TABLE 146 ELECTRIC TRACTOR MARKET, BY PROPULSION, 2018–2021 (USD MILLION)
                       TABLE 147 ELECTRIC TRACTOR MARKET, BY PROPULSION, 2022–2027 (USD MILLION)
     15.2 BATTERY ELECTRIC
             15.2.1 USED FOR REDUCTION IN EMISSIONS
                       TABLE 148 BATTERY ELECTRIC TRACTOR MARKET, BY REGION, 2018–2021 (UNITS)
                       TABLE 149 BATTERY ELECTRIC TRACTOR MARKET, BY REGION, 2022–2027 (UNITS)
                       TABLE 150 BATTERY ELECTRIC TRACTOR MARKET, BY REGION, 2018–2021 (USD MILLION)
                       TABLE 151 BATTERY ELECTRIC TRACTOR MARKET, BY REGION, 2022–2027 (USD MILLION)
     15.3 HYBRID ELECTRIC
             15.3.1 INCREASE IN DEMAND FOR MEDIUM- AND HEAVY-DUTY TRACTORS TO DRIVE SEGMENT
                       TABLE 152 HYBRID ELECTRIC TRACTOR MARKET, BY REGION, 2018–2021 (UNITS)
                       TABLE 153 HYBRID ELECTRIC TRACTOR MARKET, BY REGION, 2022–2027 (UNITS)
                       TABLE 154 HYBRID ELECTRIC TRACTOR MARKET, BY REGION, 2018–2021 (USD MILLION)
                       TABLE 155 HYBRID ELECTRIC TRACTOR MARKET, BY REGION, 2022–2027 (USD MILLION)

16 FARM TRACTOR MARKET, BY REGION (Page No. - 184)
     16.1 INTRODUCTION
             16.1.1 RESEARCH METHODOLOGY
             16.1.2 ASSUMPTIONS
             16.1.3 INDUSTRY INSIGHTS
                       FIGURE 41 FARM TRACTOR MARKET, BY REGION, 2022 VS 2027 (USD MILLION)
                       TABLE 156 FARM TRACTOR MARKET, BY REGION, 2018–2021 (‘000 UNITS)
                       TABLE 157 FARM TRACTOR MARKET, BY REGION, 2022–2027 (‘000 UNITS)
                       TABLE 158 FARM TRACTOR MARKET, BY REGION, 2018–2021 (USD MILLION)
                       TABLE 159 FARM TRACTOR MARKET, BY REGION, 2022–2027 (USD MILLION)
     16.2 ASIA OCEANIA
             16.2.1 THE ASIA OCEANIA REGION INCLUDES CHINA, INDIA, JAPAN, SOUTH KOREA, AUSTRALIA, AND THE REST OF ASIA OCEANIA FOR THE MARKET ANALYSIS.
                       FIGURE 42 ASIA OCEANIA: FARM TRACTOR MARKET SNAPSHOT
                       TABLE 160 ASIA OCEANIA: FARM TRACTOR MARKET, BY COUNTRY, 2018–2021 (‘000 UNITS)
                       TABLE 161 ASIA OCEANIA: FARM TRACTOR MARKET, BY COUNTRY, 2022–2027 (‘000 UNITS)
                       TABLE 162 ASIA-OCEANIA: FARM TRACTOR MARKET, BY COUNTRY, 2018–2021 (USD MILLION)
                       TABLE 163 ASIA OCEANIA: FARM TRACTOR MARKET, BY COUNTRY, 2022–2027 (USD MILLION)
             16.2.2 AUSTRALIA
                       16.2.2.1 Government assistance to farmers expected to drive market
                                   TABLE 164 AUSTRALIA: FARM TRACTOR MARKET, BY POWER OUTPUT, 2018–2021 (‘000 UNITS)
                                   TABLE 165 AUSTRALIA: FARM TRACTOR MARKET, BY POWER OUTPUT, 2022–2027 (‘000 UNITS)
                                   TABLE 166 AUSTRALIA: FARM TRACTOR MARKET, BY POWER OUTPUT, 2018–2021 (USD MILLION)
                                   TABLE 167 AUSTRALIA: FARM TRACTOR MARKET, BY POWER OUTPUT, 2022–2027 (USD MILLION)
             16.2.3 CHINA
                       16.2.3.1 Favorable government policies to subsidize tractor sales
                                   TABLE 168 CHINA: FARM TRACTOR MARKET, BY POWER OUTPUT, 2018–2021 (‘000 UNITS)
                                   TABLE 169 CHINA: FARM TRACTOR MARKET, BY POWER OUTPUT, 2022–2027 (‘000 UNITS)
                                   TABLE 170 CHINA: FARM TRACTOR MARKET, BY POWER OUTPUT, 2018–2021 (USD MILLION)
                                   TABLE 171 CHINA: FARM TRACTOR MARKET, BY POWER OUTPUT, 2022–2027 (USD MILLION)
             16.2.4 INDIA
                       16.2.4.1 Rise in farm mechanization expected to drive Indian farm tractor market
                                   TABLE 172 INDIA: FARM TRACTOR MARKET, BY POWER OUTPUT, 2018–2021 (‘000 UNITS)
                                   TABLE 173 INDIA: FARM TRACTOR MARKET, BY POWER OUTPUT, 2022–2027 (‘000 UNITS)
                                   TABLE 174 INDIA: FARM TRACTOR MARKET, BY POWER OUTPUT, 2018–2021 (USD MILLION)
                                   TABLE 175 INDIA: FARM TRACTOR MARKET, BY POWER OUTPUT, 2022–2027 (USD MILLION)
             16.2.5 JAPAN
                       16.2.5.1 Focus on encouraging agricultural co-operatives
                                   TABLE 176 JAPAN: FARM TRACTOR MARKET, BY POWER OUTPUT, 2018–2021 (‘000 UNITS)
                                   TABLE 177 JAPAN: FARM TRACTOR MARKET, BY POWER OUTPUT, 2022–2027 (‘000 UNITS)
                                   TABLE 178 JAPAN: FARM TRACTOR MARKET, BY POWER OUTPUT, 2018–2021 (USD MILLION)
                                   TABLE 179 JAPAN: FARM TRACTOR MARKET, BY POWER OUTPUT, 2022–2027 (USD MILLION)
             16.2.6 SOUTH KOREA
                       16.2.6.1 Debt restructuring plans for farmers to influence South Korean farm tractor market
                                   TABLE 180 SOUTH KOREA: FARM TRACTOR MARKET, BY POWER OUTPUT, 2018–2021 (‘000 UNITS)
                                   TABLE 181 SOUTH KOREA: FARM TRACTOR MARKET, BY POWER OUTPUT, 2022–2027 (‘000 UNITS)
                                   TABLE 182 SOUTH KOREA: FARM TRACTOR MARKET, BY POWER OUTPUT, 2018–2021 (USD MILLION)
                                   TABLE 183 SOUTH KOREA: FARM TRACTOR MARKET, BY POWER OUTPUT, 2022–2027 (USD MILLION)
             16.2.7 REST OF ASIA OCEANIA
                       16.2.7.1 Favorable government policies drive farm tractors market in Rest of Asia Oceania
                                   TABLE 184 REST OF ASIA OCEANIA: FARM TRACTOR MARKET, BY POWER OUTPUT, 2018–2021 (‘000 UNITS)
                                   TABLE 185 REST OF ASIA OCEANIA: FARM TRACTOR MARKET, BY POWER OUTPUT, 2022–2027 (‘000 UNITS)
                                   TABLE 186 REST OF ASIA OCEANIA: FARM TRACTOR MARKET, BY POWER OUTPUT, 2018–2021 (USD MILLION)
                                   TABLE 187 REST OF ASIA OCEANIA: FARM TRACTOR MARKET, BY POWER OUTPUT, 2022–2027 (USD MILLION)
     16.3 EUROPE
               FIGURE 43 EUROPE: FARM TRACTOR MARKET SNAPSHOT
               TABLE 188 EUROPE: FARM TRACTOR MARKET, BY COUNTRY, 2018–2021 (‘000 UNITS)
               TABLE 189 EUROPE: FARM TRACTOR MARKET, BY COUNTRY, 2022–2027 (‘000 UNITS)
               TABLE 190 EUROPE: FARM TRACTOR MARKET, BY COUNTRY, 2018–2021 (USD MILLION)
               TABLE 191 EUROPE: FARM TRACTOR MARKET, BY COUNTRY, 2022–2027 (USD MILLION)
             16.3.1 FRANCE
                       16.3.1.1 Shortage of labor expected to drive French farm tractor market
                                   TABLE 192 FRANCE: FARM TRACTOR MARKET, BY POWER OUTPUT, 2018–2021 (‘000 UNITS)
                                   TABLE 193 FRANCE: FARM TRACTOR MARKET, BY POWER OUTPUT, 2022–2027 (‘000 UNITS)
                                   TABLE 194 FRANCE: FARM TRACTOR MARKET, BY POWER OUTPUT, 2018–2021 (USD MILLION)
                                   TABLE 195 FRANCE: FARM TRACTOR MARKET, BY POWER OUTPUT, 2022–2027 (USD MILLION)
             16.3.2 GERMANY
                       16.3.2.1 Increasing demand for high-powered tractors expected to fuel German market
                                   TABLE 196 GERMANY: FARM TRACTOR MARKET, BY POWER OUTPUT, 2018–2021 (‘000 UNITS)
                                   TABLE 197 GERMANY: FARM TRACTOR MARKET, BY POWER OUTPUT, 2022–2027 (‘000 UNITS)
                                   TABLE 198 GERMANY: FARM TRACTOR MARKET, BY POWER OUTPUT, 2018–2021 (USD MILLION)
                                   TABLE 199 GERMANY: FARM TRACTOR MARKET, BY POWER OUTPUT, 2022–2027 (USD MILLION)
             16.3.3 ITALY
                       16.3.3.1 Increasing popularity of precision agriculture expected to propel market in Italy
                                   TABLE 200 ITALY: FARM TRACTOR MARKET, BY POWER OUTPUT, 2018–2021 (‘000 UNITS)
                                   TABLE 201 ITALY: FARM TRACTOR MARKET, BY POWER OUTPUT, 2022–2027 (‘000 UNITS)
                                   TABLE 202 ITALY: FARM TRACTOR MARKET, BY POWER OUTPUT, 2018–2021 (USD MILLION)
                                   TABLE 203 ITALY: FARM TRACTOR MARKET, BY POWER OUTPUT, 2022–2027 (USD MILLION)
             16.3.4 POLAND
                       16.3.4.1 Farm subsidies in Poland expected to drive market
                                   TABLE 204 POLAND: FARM TRACTOR MARKET, BY POWER OUTPUT, 2018–2021 (‘000 UNITS)
                                   TABLE 205 POLAND: FARM TRACTOR MARKET, BY POWER OUTPUT, 2022–2027 (‘000 UNITS)
                                   TABLE 206 POLAND: FARM TRACTOR MARKET, BY POWER OUTPUT, 2018–2021 (USD MILLION)
                                   TABLE 207 POLAND: FARM TRACTOR MARKET, BY POWER OUTPUT, 2022–2027 (USD MILLION)
             16.3.5 RUSSIA
                       16.3.5.1 Small and medium-sized farms to support Russian market
                                   TABLE 208 RUSSIA: FARM TRACTOR MARKET, BY POWER OUTPUT, 2018–2021 (‘000 UNITS)
                                   TABLE 209 RUSSIA: FARM TRACTOR MARKET, BY POWER OUTPUT, 2022–2027 (‘000 UNITS)
                                   TABLE 210 RUSSIA: FARM TRACTOR MARKET, BY POWER OUTPUT, 2018–2021 (USD MILLION)
                                   TABLE 211 RUSSIA: FARM TRACTOR MARKET, BY POWER OUTPUT, 2022–2027 (USD MILLION)
             16.3.6 SPAIN
                       16.3.6.1 Shortage of labor and increasing focus on precision agriculture to fuel market in Spain
                                   TABLE 212 SPAIN: FARM TRACTOR MARKET, BY POWER OUTPUT, 2018–2021 (‘000 UNITS)
                                   TABLE 213 SPAIN: FARM TRACTOR MARKET, BY POWER OUTPUT, 2022–2027 (‘000 UNITS)
                                   TABLE 214 SPAIN: FARM TRACTOR MARKET, BY POWER OUTPUT, 2018–2021 (USD MILLION)
                                   TABLE 215 SPAIN: FARM TRACTOR MARKET, BY POWER OUTPUT, 2022–2027 (USD MILLION)
             16.3.7 TURKEY
                       16.3.7.1 Larger farm sizes and favorable government policies to accelerate market in Turkey
                                   TABLE 216 TURKEY: FARM TRACTOR MARKET, BY POWER OUTPUT, 2018–2021 (‘000 UNITS)
                                   TABLE 217 TURKEY: FARM TRACTOR MARKET, BY POWER OUTPUT, 2022–2027 (‘000 UNITS)
                                   TABLE 218 TURKEY: FARM TRACTOR MARKET, BY POWER OUTPUT, 2018–2021 (USD MILLION)
                                   TABLE 219 TURKEY: FARM TRACTOR MARKET, BY POWER OUTPUT, 2022–2027 (USD MILLION)
             16.3.8 UK
                       16.3.8.1 Demand for high-powered tractors to push UK market
                                   TABLE 220 UK: FARM TRACTOR MARKET, BY POWER OUTPUT, 2018–2021 (‘000 UNITS)
                                   TABLE 221 UK: FARM TRACTOR MARKET, BY POWER OUTPUT, 2022–2027 (‘000 UNITS)
                                   TABLE 222 UK: FARM TRACTOR MARKET, BY POWER OUTPUT, 2018–2021 (USD MILLION)
                                   TABLE 223 UK: FARM TRACTOR MARKET, BY POWER OUTPUT, 2022–2027 (USD MILLION)
             16.3.9 REST OF EUROPE
                       16.3.9.1 Financial aid from governments expected to drive Rest of Europe market
                                   TABLE 224 REST OF EUROPE: FARM TRACTOR MARKET, BY POWER OUTPUT, 2018–2021 (‘000 UNITS)
                                   TABLE 225 REST OF EUROPE: FARM TRACTOR MARKET, BY POWER OUTPUT, 2022–2027 (‘000 UNITS)
                                   TABLE 226 REST OF EUROPE: FARM TRACTOR MARKET, BY POWER OUTPUT, 2018–2021 (USD MILLION)
                                   TABLE 227 REST OF EUROPE: FARM TRACTOR MARKET, BY POWER OUTPUT, 2022–2027 (USD MILLION)
     16.4 NORTH AMERICA
               FIGURE 44 NORTH AMERICA FARM TRACTOR MARKET, BY COUNTRY, 2022 VS. 2027 (USD MILLION)
               TABLE 228 NORTH AMERICA: FARM TRACTOR MARKET, BY COUNTRY, 2018–2021 (‘000 UNITS)
               TABLE 229 NORTH AMERICA: FARM TRACTOR MARKET, BY COUNTRY, 2022–2027 (‘000 UNITS)
               TABLE 230 NORTH AMERICA: FARM TRACTOR MARKET, BY COUNTRY, 2018–2021 (USD MILLION)
               TABLE 231 NORTH AMERICA: FARM TRACTOR MARKET, BY COUNTRY, 2022–2027 (USD MILLION)
             16.4.1 CANADA
                       16.4.1.1 Government investment in crop production to expand market in Canada
                                   TABLE 232 CANADA: FARM TRACTOR MARKET, BY POWER OUTPUT, 2018–2021 (‘000 UNITS)
                                   TABLE 233 CANADA: FARM TRACTOR MARKET, BY POWER OUTPUT, 2022–2027 (‘000 UNITS)
                                   TABLE 234 CANADA: FARM TRACTOR MARKET, BY POWER OUTPUT, 2018–2021 (USD MILLION)
                                   TABLE 235 CANADA: FARM TRACTOR MARKET, BY POWER OUTPUT, 2022–2027 (USD MILLION)
             16.4.2 MEXICO
                       16.4.2.1 Government support and presence of OEMs fuel market in Mexico
                                   TABLE 236 MEXICO: FARM TRACTOR MARKET, BY POWER OUTPUT, 2018–2021 (‘000 UNITS)
                                   TABLE 237 MEXICO: FARM TRACTOR MARKET, BY POWER OUTPUT, 2022–2027 (‘000 UNITS)
                                   TABLE 238 MEXICO: FARM TRACTOR MARKET, BY POWER OUTPUT, 2018–2021 (USD MILLION)
                                   TABLE 239 MEXICO: FARM TRACTOR MARKET, BY POWER OUTPUT, 2022–2027 (USD MILLION)
             16.4.3 US
                       16.4.3.1 Presence of key players expected to amplify tractors market in US
                                   TABLE 240 US: FARM TRACTOR MARKET, BY POWER OUTPUT, 2018–2021 (‘000 UNITS)
                                   TABLE 241 US: FARM TRACTOR MARKET, BY POWER OUTPUT, 2022–2027 (‘000 UNITS)
                                   TABLE 242 US: FARM TRACTOR MARKET, BY POWER OUTPUT, 2018–2021 (USD MILLION)
                                   TABLE 243 US: FARM TRACTOR MARKET, BY POWER OUTPUT, 2022–2027 (USD MILLION)
     16.5 REST OF THE WORLD (ROW)
               FIGURE 45 REST OF THE WORLD: FARM TRACTOR MARKET, BY COUNTRY, 2022 VS 2027 (USD MILLION)
               TABLE 244 REST OF THE WORLD: FARM TRACTOR MARKET, BY COUNTRY, 2018–2021 (‘000 UNITS)
               TABLE 245 REST OF THE WORLD: FARM TRACTOR MARKET, BY COUNTRY, 2022–2027 (‘000 UNITS)
               TABLE 246 REST OF THE WORLD: FARM TRACTOR MARKET, BY COUNTRY, 2018–2021 (USD MILLION)
               TABLE 247 REST OF THE WORLD: FARM TRACTOR MARKET, BY COUNTRY, 2022–2027 (USD MILLION)
             16.5.1 ARGENTINA
                       16.5.1.1 Focus of key players on manufacturing tractors
                                   TABLE 248 ARGENTINA: FARM TRACTOR MARKET, BY POWER OUTPUT, 2018–2021 (‘000 UNITS)
                                   TABLE 249 ARGENTINA: FARM TRACTOR MARKET, BY POWER OUTPUT, 2022–2027 (‘000 UNITS)
                                   TABLE 250 ARGENTINA: FARM TRACTOR MARKET, BY POWER OUTPUT, 2018–2021 (USD MILLION)
                                   TABLE 251 ARGENTINA: FARM TRACTOR MARKET, BY POWER OUTPUT, 2022–2027 (USD MILLION)
             16.5.2 BRAZIL
                       16.5.2.1 Increasing export of tractors drive market in Brazil
                                   TABLE 252 BRAZIL: FARM TRACTOR MARKET, BY POWER OUTPUT, 2018–2021 (‘000 UNITS)
                                   TABLE 253 BRAZIL: FARM TRACTOR MARKET, BY POWER OUTPUT, 2022–2027 (‘000 UNITS)
                                   TABLE 254 BRAZIL: FARM TRACTOR MARKET, BY POWER OUTPUT, 2018–2021 (USD MILLION)
                                   TABLE 255 BRAZIL: FARM TRACTOR MARKET, BY POWER OUTPUT, 2022–2027 (USD MILLION)
             16.5.3 OTHERS IN ROW
                       16.5.3.1 Exports of produce and government subsidies accelerate market
                                   TABLE 256 OTHERS IN ROW: FARM TRACTOR MARKET, BY POWER OUTPUT, 2018–2021 (‘000 UNITS)
                                   TABLE 257 OTHERS IN ROW: FARM TRACTOR MARKET, BY POWER OUTPUT, 2022–2027 (‘000 UNITS)
                                   TABLE 258 OTHERS IN ROW: FARM TRACTOR MARKET, BY POWER OUTPUT, 2018–2021 (USD MILLION)
                                   TABLE 259 OTHERS IN ROW: FARM TRACTOR MARKET, BY POWER OUTPUT, 2022–2027 (USD MILLION)

17 COMPETITIVE LANDSCAPE (Page No. - 233)
     17.1 OVERVIEW
     17.2 FARM EQUIPMENT MARKET SHARE ANALYSIS, 2020
               TABLE 260 FARM EQUIPMENT MARKET SHARE ANALYSIS, 2020
               FIGURE 46 FARM EQUIPMENT MARKET SHARE, 2020
     17.3 REVENUE ANALYSIS OF TOP LISTED/PUBLIC PLAYERS
               FIGURE 47 REVENUE ANALYSIS OF TOP LISTED/PUBLIC PLAYERS, 2018-2020
     17.4 COMPANY EVALUATION QUADRANT: FARM EQUIPMENT SUPPLIERS
             17.4.1 STAR
             17.4.2 EMERGING LEADERS
             17.4.3 PERVASIVE
             17.4.4 PARTICIPANTS
                       TABLE 261 FARM EQUIPMENT MARKET: COMPANY PRODUCT FOOTPRINT, 2020
                       TABLE 262 FARM TRACTOR MARKET: COMPANY PROPULSION FOOTPRINT, 2020
                       TABLE 263 FARM EQUIPMENT MARKET: COMPANY REGION FOOTPRINT, 2020
                       FIGURE 48 COMPETITIVE EVALUATION MATRIX: FARM EQUIPMENT SUPPLIERS, 2020
                       FIGURE 49 DETAILS ON KEY DEVELOPMENTS BY LEADING PLAYERS
     17.5 COMPETITIVE SCENARIO
             17.5.1 NEW PRODUCT DEVELOPMENTS
                       TABLE 264 NEW PRODUCT DEVELOPMENTS, 2018–2022
             17.5.2 DEALS
                       TABLE 265 DEALS, 2018–2022
             17.5.3 OTHER DEVELOPMENTS
                       TABLE 266 OTHER DEVELOPMENTS, 2018–2021
     17.6 KEY PLAYER STRATEGIES/RIGHT TO WIN, 2018–2021
               TABLE 267 COMPANIES ADOPTED NEW PRODUCT DEVELOPMENTS, PARTNERSHIPS, AND SUPPLY CONTRACTS AS KEY GROWTH STRATEGIES FROM 2018 TO 2021

18 COMPANY PROFILES (Page No. - 263)
     18.1 KEY PLAYERS
(Business Overview, Products Offered,

Recent Developments, and MnM View (Key strengths/Right to Win, Strategic Choices Made, and Weaknesses and Competitive Threats))*
             18.1.1 JOHN DEERE
                       TABLE 268 JOHN DEERE: BUSINESS OVERVIEW
                       FIGURE 50 JOHN DEERE: COMPANY SNAPSHOT
                       TABLE 269 JOHN DEERE: PRODUCTS OFFERED
                       TABLE 270 JOHN DEERE: DEALS
                       TABLE 271 JOHN DEERE: NEW PRODUCT DEVELOPMENTS
             18.1.2 CNH INDUSTRIAL
                       TABLE 272 CNH INDUSTRIAL: BUSINESS OVERVIEW
                       FIGURE 51 CNH INDUSTRIAL: COMPANY SNAPSHOT
                       TABLE 273 CNH INDUSTRIAL: PRODUCTS OFFERED
                       TABLE 274 CNH INDUSTRIAL: NEW PRODUCT DEVELOPMENTS
                       TABLE 275 CNH INDUSTRIAL: DEALS
                       TABLE 276 CNH INDUSTRIAL: OTHER DEVELOPMENTS
             18.1.3 MAHINDRA & MAHINDRA
                       TABLE 277 MAHINDRA & MAHINDRA: BUSINESS OVERVIEW
                       FIGURE 52 MAHINDRA & MAHINDRA: COMPANY SNAPSHOT
                       TABLE 278 MAHINDRA & MAHINDRA: PRODUCTS OFFERED
                       TABLE 279 MAHINDRA & MAHINDRA: NEW PRODUCT DEVELOPMENTS
                       TABLE 280 MAHINDRA & MAHINDRA: DEALS
                       TABLE 281 MAHINDRA & MAHINDRA: OTHER DEVELOPMENT
             18.1.4 AGCO CORPORATION
                       TABLE 282 AGCO CORPORATION: BUSINESS OVERVIEW
                       FIGURE 53 AGCO CORPORATION: COMPANY SNAPSHOT
                       TABLE 283 AGCO CORPORATION: PRODUCTS OFFERED
                       TABLE 284 AGCO CORPORATION: NEW PRODUCT DEVELOPMENTS
                       TABLE 285 AGCO CORPORATION: DEALS
                       TABLE 286 AGCO CORPORATION.: OTHER DEVELOPMENT
             18.1.5 KUBOTA CORPORATION
                       TABLE 287 KUBOTA CORPORATION: BUSINESS OVERVIEW
                       FIGURE 54 KUBOTA CORPORATION: COMPANY SNAPSHOT
                       TABLE 288 KUBOTA CORPORATION: PRODUCTS OFFERED
                       TABLE 289 KUBOTA CORPORATION: NEW PRODUCT DEVELOPMENTS
                       TABLE 290 KUBOTA CORPORATION: DEALS
                       TABLE 291 KUBOTA CORPORATION.: OTHER DEVELOPMENT
             18.1.6 CLAAS KGAA MBH
                       TABLE 292 CLAAS KGAA MBH: BUSINESS OVERVIEW
                       FIGURE 55 CLAAS KGAA MBH: COMPANY SNAPSHOT
                       TABLE 293 CLAAS KGAA MBH: PRODUCTS OFFERED
                       TABLE 294 CLAAS KGAA MBH: NEW PRODUCT DEVELOPMENTS
                       TABLE 295 CLAAS KGAA MBH: DEALS
                       TABLE 296 CLAAS KGAA MBH: OTHER DEVELOPMENT
             18.1.7 ISEKI & CO., LTD.
                       TABLE 297 ISEKI & CO., LTD.: BUSINESS OVERVIEW
                       FIGURE 56 ISEKI & CO., LTD.: COMPANY SNAPSHOT
                       TABLE 298 ISEKI & CO., LTD.: PRODUCTS OFFERED
                       TABLE 299 ISEKI & CO., LTD.: DEALS
             18.1.8 ESCORTS LIMITED
                       TABLE 300 ESCORTS LIMITED: BUSINESS OVERVIEW
                       FIGURE 57 ESCORTS LIMITED: COMPANY SNAPSHOT
                       TABLE 301 ESCORTS LIMITED: PRODUCTS OFFERED
                       TABLE 302 ESCORTS LIMITED: NEW PRODUCT DEVELOPMENTS
                       TABLE 303 ESCORTS LIMITED: DEALS
             18.1.9 SDF GROUP
                       TABLE 304 SDF GROUP: BUSINESS OVERVIEW
                       FIGURE 58 SDF GROUP: COMPANY SNAPSHOT
                       TABLE 305 SDF GROUP: PRODUCTS OFFERED
                       TABLE 306 SDF GROUP: NEW PRODUCT DEVELOPMENTS
                       TABLE 307 SDF GROUP: DEALS
                       TABLE 308 SDF GROUP: OTHER DEVELOPMENT
             18.1.10 YANMAR HOLDINGS CO., LTD.
                       TABLE 309 YANMAR HOLDINGS CO., LTD.: BUSINESS OVERVIEW
                       FIGURE 59 YANMAR HOLDINGS CO., LTD.: COMPANY SNAPSHOT
                       TABLE 310 YANMAR HOLDINGS CO., LTD.: PRODUCTS OFFERED
                       TABLE 311 YANMAR HOLDINGS CO., LTD.: NEW PRODUCT DEVELOPMENTS
                       TABLE 312 YANMAR HOLDINGS CO., LTD.: DEALS
                       TABLE 313 YANMAR HOLDINGS CO., LTD.: OTHER DEVELOPMENT
     18.2 OTHER PLAYERS
             18.2.1 JCB
                       TABLE 314 JCB: COMPANY OVERVIEW
             18.2.2 TRACTORS AND FARM EQUIPMENT LIMITED
                       TABLE 315 TRACTORS AND FARM EQUIPMENT LIMITED: COMPANY OVERVIEW
             18.2.3 SONALIKA GROUP
                       TABLE 316 SONALIKA GROUP: COMPANY OVERVIEW
             18.2.4 TONG YANG MOOLSAN (TYM)
                       TABLE 317 TONG YANG MOOLSAN (TYM): COMPANY OVERVIEW
             18.2.5 DAEDONG INDUSTRIAL COMPANY LTD.
                       TABLE 318 DAEDONG INDUSTRIAL COMPANY LTD.: COMPANY OVERVIEW
             18.2.6 EXEL INDUSTRIES
                       TABLE 319 EXEL INDUSTRIES: COMPANY OVERVIEW
             18.2.7 BUCHER INDUSTRIES
                       TABLE 320 BUCHER INDUSTRIES: COMPANY OVERVIEW
             18.2.8 ZETOR TRACTORS
                       TABLE 321 ZETOR TRACTORS: COMPANY OVERVIEW
             18.2.9 ARGO TRACTORS S.P.A.
                       TABLE 322 ARGO TRACTORS S.P.A.: COMPANY OVERVIEW
             18.2.10 CONCERN TRACTOR PLANTS
                       TABLE 323 CONCERN TRACTOR PLANTS: COMPANY OVERVIEW
             18.2.11 AMAZONE H. DREYER GMBH & CO. KG
                       TABLE 324 AMAZONE H. DREYER GMBH & CO. KG: COMPANY OVERVIEW
             18.2.12 ALAMO GROUP INC.
                       TABLE 325 ALAMO GROUP INC.: COMPANY OVERVIEW
             18.2.13 BUHLER INDUSTRIES INC.
                       TABLE 326 BUHLER INDUSTRIES INC.: COMPANY OVERVIEW
             18.2.14 AUTONOMOUS TRACTOR CORPORATION
                       TABLE 327 AUTONOMOUS TRACTOR CORPORATION: COMPANY OVERVIEW
             18.2.15 CHANGZHOU DONGFENG AGRICULTURAL MACHINERY GROUP CO., LTD.
                       TABLE 328 CHANGZHOU DONGFENG AGRICULTURAL MACHINERY GROUP CO., LTD.: COMPANY OVERVIEW
             18.2.16 CHINA NATIONAL MACHINERY INDUSTRY CORPORATION
                       TABLE 329 CHINA NATIONAL MACHINERY INDUSTRY CORPORATION: COMPANY OVERVIEW
             18.2.17 WEICHAI LOVOL HEAVY INDUSTRY CO., LTD
                       TABLE 330 WEICHAI LOVOL HEAVY INDUSTRY CO., LTD: COMPANY OVERVIEW
             18.2.18 KRONE GMBH & CO. KG
                       TABLE 331 KRONE GMBH & CO. KG: COMPANY OVERVIEW
             18.2.19 VERMEER CORPORATION
                       TABLE 332 VERMEER CORPORATION: COMPANY OVERVIEW
             18.2.20 PΦTTINGER LANDTECHNIK GMBH
                       TABLE 333 PΦTTINGER LANDTECHNIK GMBH: COMPANY OVERVIEW

*Details on Business Overview, Products Offered,

Recent Developments, and MnM View (Key strengths/Right to Win, Strategic Choices Made, and Weaknesses and Competitive Threats) might not be captured in case of unlisted companies.

19 APPENDIX (Page No. - 339)
     19.1 INSIGHTS OF INDUSTRY EXPERTS
     19.2 DISCUSSION GUIDE
     19.3 KNOWLEDGESTORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL
     19.4 AVAILABLE CUSTOMIZATIONS
             19.4.1 FARM EQUIPMENT MARKET, BY POWER TYPE & COUNTRY
                       19.4.1.1 Asia Oceania
                                   19.4.1.1.1 China
                                   19.4.1.1.2 India
                                   19.4.1.1.3 Japan
                                   19.4.1.1.4 South Korea
                                   19.4.1.1.5 Australia
                                   19.4.1.1.6 Rest of Asia Oceania
                       19.4.1.2 Europe
                                   19.4.1.2.1 Germany
                                   19.4.1.2.2 France
                                   19.4.1.2.3 UK
                                   19.4.1.2.4 Spain
                                   19.4.1.2.5 Russia
                                   19.4.1.2.6 Italy
                                   19.4.1.2.7 Poland
                                   19.4.1.2.8 Turkey
                                   19.4.1.2.9 Rest of Europe
                       19.4.1.3 North America
                                   19.4.1.3.1 US
                                   19.4.1.3.2 Canada
                                   19.4.1.3.3 Mexico
                       19.4.1.4 Rest of the World
                                   19.4.1.4.1 Brazil
                                   19.4.1.4.2 Argentina
                                   19.4.1.4.3 Others
             19.4.2 ELECTRIC TRACTOR MARKET, BY POWER OUTPUT & COUNTRY
                       19.4.2.1 Asia Oceania
                                   19.4.2.1.1 China
                                   19.4.2.1.2 India
                                   19.4.2.1.3 Japan
                                   19.4.2.1.4 South Korea
                                   19.4.2.1.5 Australia
                                   19.4.2.1.6 Rest of Asia Oceania
                       19.4.2.2 Europe
                                   19.4.2.2.1 Germany
                                   19.4.2.2.2 France
                                   19.4.2.2.3 UK
                                   19.4.2.2.4 Spain
                                   19.4.2.2.5 Russia
                                   19.4.2.2.6 Italy
                                   19.4.2.2.7 Poland
                                   19.4.2.2.8 Turkey
                                   19.4.2.2.9 Rest of Europe
                       19.4.2.3 North America
                                   19.4.2.3.1 US
                                   19.4.2.3.2 Canada
                                   19.4.2.3.3 Mexico
                       19.4.2.4 Rest of the World
                                   19.4.2.4.1 Brazil
                                   19.4.2.4.2 Argentina
                                   19.4.2.4.3 Others
             19.4.3 DETAILED ANALYSIS AND PROFILING OF ADDITIONAL MARKET PLAYERS (UP TO 3)
     19.5 RELATED REPORTS
     19.6 AUTHOR DETAILS

The study involves four main activities to estimate the current size of the farm equipment market.

  • Exhaustive secondary research was done to collect information on the market, such as, farm tractor market by power output, farm tractor market by drive type, farm equipment market, by equipment type, implements market, by function, farm equipment rental market, by equipment type, farm tractor rental market, by power output, farm tractor rental market, by drive type, farm tractor market, by region, electric tractor market, by propulsion, autonomous tractor market, by power output.
  • The next step was to validate these findings, assumptions, and market analysis with industry experts across value chains through primary research.
  • Bottom-up and top-down approaches were employed to estimate the complete market size for different segments considered under this study.
  • Thereafter, market breakdown and data triangulation processes were used to estimate the market size of segments and subsegments.

Secondary Research

Secondary sources referred to in this research study included the Association of Equipment Manufacturers (AEM); corporate filings (such as annual reports, investor presentations, and financial statements); and trade, business, and farm equipment associations. The secondary data was collected and analyzed to arrive at the overall market size, which was further validated by primary research.

Primary Research

Extensive primary research was conducted after acquiring an understanding of the farm equipment market scenario through secondary research. Several primary interviews were conducted with market experts from farm equipment providers, component/system providers, and end-user organizations across three major regions, namely, North America, Europe, and Asia Oceania. 100% of the primary interviews were conducted from the farm equipment providers and component/system providers. Primary data was collected through questionnaires, emails, and telephonic interviews. Various departments within organizations, including sales, operations, and administrations, were contacted to provide a holistic viewpoint in the report while canvassing primaries.After interacting with industry participants, some brief sessions were conducted with experienced independent consultants to reinforce the findings from the primaries. This, along with the opinions of in-house subject matter experts, led to the findings delineated in the rest of this report.

Farm Equipment Market Size, and Share

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

Market Size Estimation

  • A detailed market estimation approach was followed to estimate and validate the value and volume of the farm equipment market and other dependent submarkets, as mentioned below:
  • The bottom-up approach was used to estimate and validate the size of the farm tractor market. The farm equipment market size by power output, in terms of volume, was derived by multiplying the region-level breakup for each type with region-level farm tractor sales. The farm tractor market size by power output, in terms of volume, was derived by multiplying the region-level breakup for each power output (<30 HP, 31–70 HP, 71–130 HP, 131–250 HP, and >250 HP) with region-level farm tractor sales.
  • The region-level farm equipment market by power output, by volume, was multiplied with the region-level average selling price (ASP) for each application to get the farm tractor market for each application by value.
  • The summation of the region-level market would give the global farm tractor market, by power output. The total value of each region was then summed up to derive the total value of the farm tractor market by power output.
  • All key macro indicators affecting the revenue growth of the market segments and subsegments were accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the validated and verified quantitative and qualitative data.
  • The gathered market data was consolidated and added with detailed inputs, analyzed, and presented in this report.
  • The top-down approach was used to estimate and validate the market by drive type in terms of volume and value. The farm tractor market value (USD million) by region (Asia oceania, North America, Europe, and RoW) was derived from the global farm tractor market. The penetration of each drive type (two wheel drive and four wheel drive) at the regional level was derived from secondary sources and validated through primaries. The penetration of each drive type was multiplied by the regional farm tractor market to get the farm tractor market value (USD million) for each region. A summation of all region-wise markets was carried out to derive the total farm tractor market value (USD million) by drive type. The top-down approach was followed by farm equipment market by equipment type, farm implements market, by function etc.

Farm Tractor Market Size: Bottom-Up Approach

Farm Equipment Market Size, and Share

To know about the assumptions considered for the study, Request for Free Sample Report

Farm Tractor Market Size: Top-Down Approach

Farm Equipment Market Size, and Share

Report Objectives

  • To define, describe, and forecast the farm equipment market, in terms of volume (’000 units) and value (USD million)
  • To define, describe, and forecast the farm tractors market, by value and volume, based on
    • Power output (<30 HP, 31–70 HP, 71–130 HP, 131–250 HP, and >250 HP) at country and regional levels
    • Drive type (two-wheel and four-wheel) at the regional level
    • Region [Asia Oceania, Europe, North America, and the Rest of the World (RoW)], along with key countries in each of these regions
  • To define, describe, and forecast the farm equipment market, by value, based on equipment type (cereal combines, non-cereal combines, balers, self-propelled sprayers, and tractor-mounted sprayers)
  • To define, describe, and forecast the implements market, by value, based on function (plowing & cultivating, sowing & planting, plant protection & fertilizing, harvesting & threshing, and others) at the regional level
  • To define, describe, and forecast the farm equipment rental market (tractors, combines, sprayers, balers, and other equipment) at the regional level
  • To define, describe, and forecast the farm tractor rental market, by value, based on
    • Power output (<30 HP, 31–70 HP, 71–130 HP, 131–250 HP, and >250 HP) at the regional level
    • Drive type (two-wheel and four-wheel) at the regional level
    • To define, describe, and forecast the autonomous tractor market, by value and volume, based on power output (<30 HP, 31–100 HP, and >100 HP) at the regional level
  • To define, describe, and forecast the electric tractor market, by value and volume, based on propulsion (battery electric and hybrid electric) at the regional level
  • To understand the market dynamics (drivers, restraints, opportunities, and challenges) of the farm equipment market
  • To analyze the impact of COVID-19 on the farm equipment market
  • To analyze the market share of the key players in the farm equipment market
  • To strategically analyze the market with Porter’s Five Forces analysis, supply chain analysis, market ecosystem, trade analysis, case studies, ASP analysis, patent analysis, trends/disruptions impacting buyers, technology trend, regulatory analysis, and the COVID-19 impact

Available Customizations

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Farm Equipment Market, By Application & Country

  • Asia Oceania
    • China
    • India
    • Japan
    • South Korea
    • Australia
    • Rest of Asia Oceania
  • Europe
    • Germany
    • France
    • UK
    • Spain
    • Russia
    • Italy
    • Poland
    • Turkey
    • Rest of Europe
  • North America
    • US
    • Canada
    • Mexico
  • RoW
    • Brazil
    • Argentina
    • Others

Farm Equipment Market, By Type & Country

  • Asia Oceania
    • China
    • India
    • Japan
    • South Korea
    • Australia
    • Rest of Asia Oceania
  • Europe
    • Germany
    • France
    • UK
    • Spain
    • Russia
    • Italy
    • Poland
    • Turkey
    • Rest of Europe
  • North America
    • US
    • Canada
    • Mexico
  • RoW
    • Brazil
    • Argentina
    • Others

detailed analysis and profiling of additional market players (UP TO 3)

Report Code
AT 2835
Published ON
Aug, 2022
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