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

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. - 29)
    3.1 Introduction
    3.2 Agriculture Equipment Market, By Type
    3.3 Farm Tractor Market, By Power Output
    3.4 Farm Tractor Market, By Drive Type
    3.5 Combines Market, By Application
    3.6 Implements Market, By Function
    3.7 Autonomous Tractor Market (Scenario Analysis)

4 Premium Insights (Page No. - 36)
    4.1 Agriculture Equipment Market Trend, Forecast & Opportunity
    4.2 Agriculture Equipment Market, By Type
    4.3 Farm Tractor Market, By Region
    4.4 Farm Tractor Market, By Drive Type
    4.5 Farm Tractor Market, By Power Output
    4.6 Combines Market, By Application
    4.7 Implements Market, By Function
    4.8 Autonomous Tractor Market, Optimistic vs Pessimistic Scenario

5 Market Overview (Page No. - 43)
    5.1 Introduction
    5.2 Market Dynamics
           5.2.1 Drivers
                    5.2.1.1 Increasing Mechanization Trend in Agriculture Industry
                               5.2.1.1.1 Decreasing Agriculture Employment & Increasing Labor Cost
                               5.2.1.1.2 Government Subsidies for Agriculture Equipment
                    5.2.1.2 Rising Need for Operational Efficiency and Profitability
           5.2.2 Restraints
                    5.2.2.1 High Cost of Agricultural Machinery
                    5.2.2.2 Growing Market for Used Equipment and Local/ Unorganized Players
           5.2.3 Opportunities
                    5.2.3.1 Innovation in the Field of Autonomous Tractors
                    5.2.3.2 Increased Use of Telematics & Gps Technology in Advanced Agriculture Equipment
                               5.2.3.2.1 Autopilot Technology
                               5.2.3.2.2 Swath Control and Variable Rate Technology (VRT)
                               5.2.3.2.3 Integration of Smartphones With Agriculture Equipment
           5.2.4 Challenges
                    5.2.4.1 Lack of Standardization in Advanced Agriculture Equipment
                    5.2.4.2 Attracting Small-Scale Farmers Toward Advanced Agriculture Equipment
    5.3 Porter’s Five Forces Analysis
           5.3.1 Agriculture Equipment Market
                    5.3.1.1 Porter’s Five Forces Analysis: Agriculture Equipment Market
                    5.3.1.2 Intensity of Competitive Rivalry
                    5.3.1.3 Threat of New Entrants
                    5.3.1.4 Threat of Substitutes
                    5.3.1.5 Bargaining Power of Suppliers
                    5.3.1.6 Bargaining Power of Buyers

6 Combines Market, By Application (Page No. - 59)
Note - The Chapter is Further Segmented at Regional Level (Asia-Oceania, Europe, North America, and RoW)
    6.1 Introduction
    6.2 Combines Market, By Application
           6.2.1 Combines Market for Corn Crop, By Region
           6.2.2 Combines Market for Rice Crop, By Region
           6.2.3 Combines Market for Soybean Crop, By Region
           6.2.4 Combines Market for Wheat Crop, By Region
           6.2.5 Combines Market for Other Crops, By Region

7 Implements Market, By Function (Page No. - 69)
Note - The Chapter is Further Segmented at Regional Level (Asia-Oceania, Europe, North America, and RoW)
    7.1 Introduction
    7.2 Implements Market, By Function
           7.2.1 Harvesting Implements Market, By Region
           7.2.2 Haying Implements Market, By Region
           7.2.3 Planting & Fertilizing Implements Market, By Region
           7.2.4 Plowing & Cultivating Implements Market, By Region
           7.2.5 Spraying Implements Market, By Region
           7.2.6 Other Implements Market, By Region

8 Farm Tractor Market, By Drive Type (Page No. - 77)
Note - The Chapter is Further Segmented at Regional Level (Asia-Oceania, Europe, North America, and RoW)
    8.1 Introduction
    8.2 Farm Tractor Market, By Drive Type
           8.2.1 Two-Wheel Drive Farm Tractor Market, By Region
           8.2.2 Four-Wheel Drive Farm Tractor Market, By Region

9 Autonomous Tractor Market, Future Trends, & Scenario (2020-2027) (Page No. - 82)
    9.1 Introduction
    9.2 Autonomous Tractors Market - Normal Scenario
    9.3 Autonomous Tractor Market - Pessimistic Scenario
    9.4 Autonomous Tractor Market - Optimistic Scenario

10 Farm Tractor Market, By Region & Power Output (Page No. - 86)
Note - The Chapter is Further Segmented at Country Level for Regions: Asia-Oceania (China, India, Japan, South Korea and Rest of Asia-Oceania, Europe (France, Germany, Italy, Turkey, U.K., and Rest of Europe), North America (U.S., Canada, and Mexico), and RoW (Brazil, Russia, and Rest of RoW)
     10.1 Introduction
     10.2 Farm Tractor Market, By Power Output
     10.3 Asia-Oceania
             10.3.1 <30 hp Farm Tractor Market, By Country
             10.3.2 31-100 hp Tractors Market, By Country
             10.3.3 101–200 hp Farm Tractor Market, By Country
             10.3.4 >200 hp Farm Tractor Market, By Country
     10.4 Europe
             10.4.1 <30 hp Farm Tractor Market, By Country
             10.4.2 31–100 hp Farm Tractor Market, By Country
             10.4.3 101–200 hp Farm Tractor Market, By Country
             10.4.4 >200 hp Farm Tractor Market, By Country
     10.5 North America
             10.5.1 <30 hp Farm Tractor Market, By Country
             10.5.2 31–100 hp Farm Tractor Market, By Country
             10.5.3 101–200 hp Farm Tractor Market, By Country
             10.5.4 >200 hp Farm Tractor Market, By Country
     10.6 RoW
             10.6.1 <30 hp Farm Tractor Market, By Country
             10.6.2 31-100 hp Farm Tractor Market, By Country
             10.6.3 101-200 hp Farm Tractor Market, By Country
             10.6.4 >200 hp Farm Tractor Market, By Country

11 Competitive Landscape (Page No. - 114)
     11.1 Introduction
             11.1.1 Vanguards
             11.1.2 Innovator
             11.1.3 Dynamic
             11.1.4 Emerging
     11.2 Competitive Benchmarking
             11.2.1 Company-Wise Product Offering Analysis
             11.2.2 Company-Wise Business Strategy Analysis
     11.3 Market Ranking Analysis: Agriculture Equipment Market

12 Company Profiles (Page No. - 119)
(Business Overview, Products Offered & Business Strategies, Key Insights, Recent Developments)*
     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 SDF 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 & Business Strategies, Key Insights, Recent Developments Might Not Be Captured in Case of Unlisted Companies.

13 Appendix (Page No. - 181)
     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 Farm Tractor 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 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 (Up to Three)
     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 Price (ASP) of Select Agriculture Equipment
Table 4 Key Players in the Autonomous Tractors Market
Table 5 Porter’s Five Forces Analysis
Table 6 Combines: Agriculture Equipment Market, By Application, 2015–2022 (’000 Units)
Table 7 Combines: Agriculture Equipment Market, By Application, 2015–2022 (USD Million)
Table 8 Combines: Agriculture Equipment Market, By Region, 2015–2022 (’000 Units)
Table 9 Combines: Agriculture Equipment Market, By Region, 2015–2022 (USD Million)
Table 10 Combines for Corn Crop: Agriculture Equipment Market, By Region, 2015–2022 (’000 Units)
Table 11 Combines for Corn Crop: Agriculture Equipment Market, By Region, 2015–2022 (USD Million)
Table 12 Combines for Rice Crop: Agriculture Equipment Market, By Region, 2015–2022 (‘000 Units)
Table 13 Combines for Rice Crop: Agriculture Equipment Market, By Region 2015–2022 (USD Million)
Table 14 Combines for Soybean Crop: Agriculture Equipment Market, By Region, 2015–2022 (’000 Units)
Table 15 Combines for Soybean Crop: Agriculture Equipment Market, By Region, 2015–2022 (USD Million)
Table 16 Combines for Wheat Crop: Agriculture Equipment Market, By Region, 2015–2022 (’000 Units)
Table 17 Combine for Wheat Crop: Agriculture Equipment Market, By Region, 2015–2022 (USD Million)
Table 18 Combines for Other Crops: Agriculture Equipment Market, By Region, 2015–2022 (’000 Units)
Table 19 Combines for Other Crops: Agriculture Equipment Market, By Region, 2015–2022 (USD Million)
Table 20 Implements: Agriculture Equipment Market, By Function, 2015–2022 (USD Million)
Table 21 Implements: Agriculture Equipment Market, By Region, 2015–2022 (USD Million)
Table 22 Harvesting Implements: Agriculture Equipment Market, By Region, 2015–2022 (USD Million)
Table 23 Haying Implements: Agriculture Equipment Market, By Region, 2015–2022 (USD Million)
Table 24 Planting & Fertilizing Implements: Agriculture Equipment Market, By Region, 2015–2022 (USD Million)
Table 25 Plowing & Cultivating Implements: Agriculture Equipment Market, By Region, 2015–2022 (USD Million)
Table 26 Spraying Implements: Agriculture Equipment Market, By Region, 2015–2022 (USD Million)
Table 27 Other Implements: Agriculture Equipment Market, By Region, 2015–2022 (USD Million)
Table 28 Farm Tractor Market, By Drive Type, 2015–2022 (’000 Units)
Table 29 Farm Tractor Market, By Drive Type 2015–2022 (USD Million)
Table 30 Two-Wheel Drive: Farm Tractor Market, By Region, 2015–2022 (’000 Units)
Table 31 Two-Wheel Drive: Farm Tractor Market, By Region, 2015–2022 (USD Million)
Table 32 Four-Wheel Drive: Farm Tractor Market, By Region 2015–2022 (’000 Units)
Table 33 Four-Wheel Drive: Farm Tractor Market, By Region, 2015–2022 (USD Million)
Table 34 Farm Tractor Market, By Power Output, 2015–2022 (’000 Units)
Table 35 Farm Tractor Market, By Power Output, 2015–2022 (USD Million)
Table 36 Farm Tractor Market, By Region, 2015–2022 (’000 Units)
Table 37 Farm Tractor Market, By Region, 2015–2022 (USD Million)
Table 38 Asia-Oceania: Farm Tractor Market, By Power Output, 2015–2022 (’000 Units)
Table 39 Asia-Oceania: Farm Tractor Market, By Power Output, 2015–2022 (USD Million)
Table 40 <30 hp: Farm Tractor Market, By Country, 2015–2022 (’000 Units)
Table 41 <30 hp: Farm Tractor Market, By Country, 2015–2022 (USD Million)
Table 42 31-100 hp: Farm Tractor Market, By Country, 2015–2022 (’000 Units)
Table 43 31-100 hp: Farm Tractor Market, By Country, 2015–2022 (USD Million)
Table 44 101–200 hp: Farm Tractor Market, By Country, 2015–2022 (’000 Units)
Table 45 101–200 hp: Farm Tractor Market, By Country, 2015–2022 (USD Million)
Table 46 >200 hp: Farm Tractor Market, By Country, 2015–2022 (’000 Units)
Table 47 >200 hp: Farm Tractor Market, By Country, 2015–2022 (USD Million)
Table 48 Europe: Farm Tractor Market, By Power Output, 2015–2022 (’000 Units)
Table 49 Europe: Farm Tractor Market, By Power Output, 2015–2022 (USD Million)
Table 50 <30 hp: Farm Tractor Market, By Country, 2015–2022 (’000 Units)
Table 51 <30 hp: Farm Tractor Market, By Country, 2015–2022 (USD Million)
Table 52 31–100 hp: Farm Tractor Market, By Country, 2015–2022 (’000 Units)
Table 53 31–100 hp: Farm Tractor Market, By Country, 2015–2022 (USD Million)
Table 54 101–200 hp: Farm Tractor Market, By Country, 2015–2022 (’000 Units)
Table 55 101–200 hp: Farm Tractor Market, By Country, 2015–2022 (USD Million)
Table 56 >200 hp: Farm Tractor Market, By Country, 2015–2022 (’000 Units)
Table 57 >200 hp: Farm Tractor Market, By Country, 2015–2022 (USD Million)
Table 58 North America: Farm Tractor Market, By Power Output, 2015–2022 (’000 Units)
Table 59 North America: Farm Tractor Market, By Power Output, 2015–2022 (USD Million)
Table 60 <30 hp: Farm Tractor Market, By Country, 2015–2022 (’000 Units)
Table 61 <30 hp: Farm Tractor Market, By Country, 2015–2022 (USD Million)
Table 62 31–100 hp: Farm Tractor Market, By Country, 2015–2022 (’000 Units)
Table 63 31–100 hp: Farm Tractor Market, By Country, 2015–2022 (USD Million)
Table 64 101–200 hp: Farm Tractor Market, By Country, 2015–2022 (’000 Units)
Table 65 101–200 hp: Farm Tractor Market, By Country, 2015–2022 (USD Million)
Table 66 >200 hp: Farm Tractor Market, By Country, 2015–2022 (’000 Units)
Table 67 >200 hp: Farm Tractor Market, By Country, 2015–2022 (USD Million)
Table 68 RoW: Farm Tractor Market, By Power Output, 2015–2022 (’000 Units)
Table 69 RoW: Farm Tractor Market, By Power Output, 2015–2022 (USD Million)
Table 70 <30 hp: Farm Tractor Market, By Country, 2015–2022 (’000 Units)
Table 71 <30 hp: Farm Tractor Market, By Country, 2015–2022 (USD Million)
Table 72 31-100 hp: Farm Tractor Market, By Country, 2015–2022 (’000 Units)
Table 73 31-100 hp: Farm Tractor Market, By Country, 2015–2022 (USD Million)
Table 74 101-200 hp: Farm Tractor Market, By Country, 2015–2022 (’000 Units)
Table 75 101-200 hp: Farm Tractor Market, By Country, 2015–2022 (USD Million)
Table 76 >200 hp: Farm Tractor Market, By Country, 2015–2022 (’000 Units)
Table 77 >200 hp: Farm Tractor Market, By Country, 2015–2022 (USD Million)
Table 78 Agriculture Equipment Market Ranking: 2016

List of Figures (61 Figures)

Figure 1 Market Segmentation
Figure 2 Agriculture 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 Farm Tractor is Estimated to Hold the Largest Market Size, 2015–2022 (USD Billion)
Figure 11 31-100 hp Farm Tractor Segment is Estimated to Hold the Largest Market Size, 2017–2022 (USD Billion)
Figure 12 Two-Wheel Drive Farm Tractor Segment 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 Increasing Wages, Farm Automation, and Customer Acceptance to Fuel the Demand for Autonomous Tractors, 2020–2027 (USD Billion)
Figure 16 Attractive Market Opportunities for the Agriculture Equipment Market
Figure 17 Farm Tractor is Expected to Hold the Largest Share in the Agriculture Equipment Market, 2017-2022 (USD Billion)
Figure 18 Asia-Oceania Leads the Market Share for Farm Tractor
Figure 19 Two-Wheel Drive Constitutes the Major Share in Farm Tractor Market, 2017 (USD Billion)
Figure 20 31-100 hp Segment is Expected to Dominate the Market of Farm Tractor During 2017–2022 (USD Billion)
Figure 21 Combines for Wheat Crop are Expected to Dominate the Combines Market, By Application, 2017 vs 2022 (USD Billion)
Figure 22 Harvesting Implements Held the Largest Share of the Implements Market, 2017 (USD Billion)
Figure 23 Comparison of Optimistic vs Pessimistic Scenario for Autonomous Tractor, 2020 vs 2027 (USD Billion)
Figure 24 Agriculture 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 Agriculture Equipment Market is Considered High
Figure 29 High Impact of Degree of Competition in the Agriculture Equipment Market
Figure 30 Medium Impact of Threat of New Entrants in the Agriculture Equipment Market
Figure 31 Low Impact of Threat of Substitutes in the Agriculture Equipment Market
Figure 32 Medium Impact of Supplier’s Bargaining Power in the Agriculture Equipment Market
Figure 33 Medium Impact of Buyer’s Bargaining Power in Agriculture Equipment Market
Figure 34 Combines: Agriculture Equipment Market, By Application, 2017 (USD Million)
Figure 35 Combines: Agriculture Equipment Market, By Region, 2017 (USD Million)
Figure 36 Implements: Agriculture Equipment Market, By Function, 2017 (USD Million)
Figure 37 Implements: Agriculture Equipment Market, By Region, 2017 (USD Million)
Figure 38 Farm Tractor: Agriculture Equipment Market, By Drive Type, 2017–2022 (USD Million)
Figure 39 Autonomous Tractor Market (Normal), By Volume & Value, 2020 - 2027
Figure 40 Autonomous Tractor Market (Pessimistic), By Volume & Value, 2020 – 2027
Figure 41 Autonomous Tractor Market (Optimistic), By Volume & Value, 2020 - 2027
Figure 42 Farm Tractor: Agriculture Equipment Market, By Power Output, 2017 vs 2022 (USD Million)
Figure 43 Asia-Oceania is Expected to Account for the Largest Share in the Farm Tractor Market, 2017 (USD Million)
Figure 44 Asia-Oceania: Farm Tractor Market Snapshot
Figure 45 North America: Farm Tractor Market Snapshot
Figure 46 Vendor Dive Matrix - Agriculture Equipment Manufacturers
Figure 47 Agco Corporation: Company Snapshot
Figure 48 Claas KGaA Mbh: Company Snapshot
Figure 49 CNH Industrial N.V.: Company Snapshot
Figure 50 Mahindra & Mahindra Ltd.: Company Snapshot
Figure 51 Deere & Company: Company Snapshot
Figure 52 Iseki & Co., Ltd.: Company Snapshot
Figure 53 Kubota Corporation: Company Snapshot
Figure 54 SDF S.P.A.: Company Snapshot
Figure 55 Yanmar Co., Ltd.: Company Snapshot
Figure 56 Bucher Industries: Company Snapshot
Figure 57 Escorts Ltd.: Company Snapshot
Figure 58 Escorts Ltd.: Business Strategy Scorecard
Figure 59 Zetor Tractors A.S.: Company Snapshot
Figure 60 Zetor Tractors A.S.: Product Offering Scorecard
Figure 61 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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