Farm Equipment Market

Farm Equipment Market by Tractor Power Output (<30,31–70,71–130,131–250,>250HP), Drive (2WD,4WD) & Autonomous, Combines, Baler, Sprayer, implement (Plowing & Cultivating, Sowing & Planting, Harvesting & Threshing), Rental & Region - Global Forecast to 2025

Report Code: AT 2835 Sep, 2020, by marketsandmarkets.com

Farm Equipment Market

Farm equipment are machines used on farmlands to perform various farming activities. These machines help enhance efficiency and productivity. Tractors, combines, rice transplanters, sprayers, balers, and implements are the key farm equipment categories, which are used in several farming activities such as plowing, planting & seeding, harvesting, crop care, and threshing.

Market Drivers

  • Government support with farm loan waivers/credit finance
  • OEM/sales incentives to support dealer service and rental operations
  • Contract farming
  • Increase in farm mechanization

Market Restraints

  • Growth of the rental market
  • High cost of equipment in emerging economies

Top 10 Players:


  • John Deere – John Deere was established in 1837 and is headquartered in Illinois, U.S. The company is engaged in the development, manufacture, and distribution of a diverse range of agricultural and construction equipment. The company operates through four business segments, namely, agriculture & turf, construction & forestry, financial services, and other revenues. It offers agricultural equipment and machinery under the agricultural & turf segment. The agriculture & turf segment further sub-segmented into three product lines-large agriculture, small agriculture & turf. The large agriculture segment includes net sales of tractors with more than approximately 200 horsepower and associated attachments, combines, cotton pickers, cotton strippers, self-propelled forage harvesters and related attachments, and sugarcane harvesters, harvesting front-end equipment, sugarcane loaders and pull behind scrapers, tillage, seeding, and application equipment, including sprayers, nutrient management, and soil preparation machinery, and related attachments and service parts.
  • CNH Industrial – CNH Industrial was formed through a merger between Fiat Industrial and CNH Global in 2013 and is headquartered in London, UK. It manages its business operations through five segments, namely, agriculture, construction, commercial & specialty vehicles, powertrain, and financial services. The agriculture segment designs, manufactures, and distributes a full line of farm machinery and implements, including two-wheel and four-wheel drive tractors, crawler tractors (Quadtracฎ), combines, cotton pickers, grape and sugar cane harvesters, hay and forage equipment, planting and seeding equipment, soil preparation and cultivation implements, and material handling equipment.
  • Mahindra & Mahindra – Mahindra & Mahindra is a flagship company of the Mahindra Group. It was established in 1945 and is headquartered in Mumbai, India. The company offers a wide range of products and solutions ranging from SUVs to electric vehicles, pickups, commercial vehicles, tractors, two-wheelers, and construction equipment. The farm equipment segment covers the sale of tractors, implements, spares, and related services. Its R&D facilities are set up across 11 countries-Australia, Finland, France, India, Italy, Japan, South Korea, Spain, Turkey, the UK, and the US. It has a presence in major regions such as Asia, Americas, Europe, the Middle East & Africa, and Australia.
  • AGCO Corporation – AGCO Corporation was established in 1990 and is headquartered in Georgia, US. The company is a manufacturer and distributor of agricultural equipment and related replacement parts throughout the world. It offers a full range of agricultural equipment, including tractors, combines, self-propelled sprayers, hay tools, forage equipment, seeding and tillage equipment, implements, and grain storage and protein production systems. The company’s products are marketed under a number of brands, including Challenger, Fendt, GSIฎ, Massey Ferguson, and Valtra. In some countries, the company utilizes associates and licensees to provide a distribution channel for its products and a source of low-cost production for certain Massey Ferguson and Valtra products.
  • Kubota Corporation – Kubota Corporation was founded in 1890 and is headquartered in Osaka, Japan. The company operates through three segments, namely, farm & industrial machinery, water & environment, and others. In addition to Japan and other Asian countries, the company has a presence in North America and Europe. In the farm & industrial machinery segment, the company offers tractors, implements, combine harvesters, rice transplanters, utility vehicles, and riding mowers. The company has deployed more than four million tractors worldwide. For instance, the company has developed a Kubota Smart Agri System (KSAS).
  • CLAAS KGAA
  • ISEKI & CO.
  • JCB
  • SDF GROUP
  • YANMAR

Other Regional Players:

  • Escorts Ltd.
  • Tractors and Farm Equipment Limited
  • Sonalika Group
  • Tong Yang Moolsan (TYM)
  • Daedong Industrial Company Ltd
  •  Exel Industries
  • Bucher Industries
  • Zetor Tractors
  • Argo Tractors S.P.A
  • Agrostroj Pelhrimov A.S
  • Concern Tractor Plants
  • Amazone H. Dreyer GMBH & Co. Kg
  • Alamo Group
  • Buhler Industries
  • Autonomous Tractor Corporation

Top Segments

  1. Farm Tractor Market, By Power Output
    • <30 HP
    • 31-70 HP
    • 71-130 HP
    • 131-250 HP
    • >250 HP
  2. Farm Equipment Market, By Equipment Type
    • Cereal Combines
    • Non Cereal Combines
    • Balers
    • Sprayers
  3. Implements Market, By Function
    • Plowing & Cultivating
    • Sowing & Planting
    • Plant Protection & Fertilizing
    • Harvesting & Threshing
    • Other Implements
  4. Farm Equipment Rental Market, By Equipment
    • Tractors
    • Combines
    • Others
  5. Autonomous Tractor Market, By Power Output
    • <30 HP
    • 31-100 HP
    • >100 HP

[225 Pages Report] The farm equipment market is projected to reach USD 113.0  billion by 2025 from an estimated USD 92.2 billion in 2020 at a CAGR of 4.2% during the forecast period. Government support to farmers in the form of loan waivers/credit finance/subsidized loans to drive farm mechanization is expected to be the major reason for the growth of farm equipment market.

Farm Equipment Market

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The farm equipment market is estimated to witness a slight downturn in 2020, owing to the COVID-19 and reluctance of farmers to purchase expensive high-powered farm equipment. However, the resumption of manufacturing facilities, opening up of international borders, good monsoon conditions in equatorial regions and government support to the agricultural industry are likely to restore momentum to a great extent by the end of the year. Governments around globe have taken several measures to tackle this pandemic, as well as boost the growth of the agriculture sector. For example, the US government announced a USD 19 billion relief program to farmers, including USD 16 billion in direct payments to producers.

Farm Equipment Market Dynamics

Driver: Government support with farm loan waivers/credit finance

The implementation of farm loan waiver schemes encourages farmers to buy farm equipment. Governments launched various schemes in different parts of the world to relieve farmers from their loans and encourage farm mechanization. For instance, the US Farm Service Agency provides guaranteed and direct farm ownership and operating loans to family-size farmers that are unable to 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. Every year, the government spends a lot of money on various subsidies to drive the agricultural sector. As farm equipment such as tractors, combines, and harvesters are expensive, it is challenging for farmers to purchase these equipment with their limited sources of funding. Therefore, several governments have increased their support in the form of subsidies/credits to encourage farmers to adopt modern farming equipment to increase food production.

Restraint: High cost of equipment in emerging economies

Continuous R&D efforts have resulted in the development of advanced products that are capable of handling multiple tasks. Advanced machinery includes complex mechatronic systems that require specialized manufacturing and assembly processes. All the steps involved in the designing, production, and distribution of 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 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.

Opportunities: Precision agriculture

The agriculture industry is under constant pressure to produce agricultural products to cater to the growing population, which has compelled 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 technique of farming 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. Precision farming technology facilitates the efficient use of resources such as water, seeds, land, and fertilizers, and agricultural equipment, which, in turn, improves the overall quantity and quality of yields. newly released agricultural drones to large farms, local governments, and distributors of agricultural products. Thus, the demand for precision agriculture is an opportunity for OEMs as they provide enhanced productivity to farmers.

Challenges: Rapidly changing emission norms and mandates

Various companies such as CNH Industrial, John Deere, and AGCO have expressed concerns related to 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 research and development. Each market has its own emission norms that increase the level of complexity while designing components, mainly engine.

Farm Equipment Market Ecosystem

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>250 HP tractors are expected to be the fastest market during the forecast period

>250 HP tractors are expected to be the fastest-growing market during the forecast period. Europe is the largest market for high-powered tractors because of the increasing traction of tractors with high-pulling power and the growing demand for commercial agriculture. Frequent new product launches of high-powered tractors by companies and farmer’s preference to invest in high-powered equipment are driving the market for tractors. Also, various benefits such as higher load carrying, better traction & control, and cultivating capacities is expected to boost its popularity in the coming years.

Tractor expected to remain the fastest and largest in equipment rental market

Tractors hold the largest share among all the rented farm equipment. Companies are collaborating with application companies to promote leasing business and encourage farmers to use farm equipment at affordable prices. The rental market for tractors in developing is expected to grow significantly during the forecast period, owing to the increasing farm mechanization and the growth of rental services. Thus, rising concerns over farm productivity across the globe and increasing farm mechanization would subsequently impel the growth of the tractor rental market during the forecast period. 

Two-wheel drive is estimated to be the largest market during the forecast period

Two-wheel drive tractors are suitable for sowing, pasture topping, and fertilizer spreading. These tractors are used on livestock, orchard, vineyard, or crop farms. Some of the advantages of the two-wheel drive are that they have a smaller turning circle, fewer mechanical parts, and lower purchase price. Developing countries holds the largest market for two-wheel drive tractors, majorly due to its price-sensitive nature. These tractors are popular in emerging countries such as India, China, and Japan with small farm sizes, as two-wheel drive tractors are less expensive, and their repair costs are less as well.

Asia Oceania is the largest market for farm equipment in the forecast period

Asia Oceania is the largest market in the forecast period due to the growing demand for high-powered tractors, growing horticulture industry and financial incentives by the government. Increasing government policies to promote agriculture mechanization, precision agriculture is expected to propel the farm equipment market. Several companies boost tractor sales in Asia Oceania with their new product launches and enhancements as per regions’ market demands at competitive prices. This is also expected to be a driving factor in the Asia Oceania farm tractor market.

Farm Equipment Market by Region

Key Market Players

The farm equipment market is dominated by globally established players such as John Deere (US), CNH Industrial (The Netherlands),  AGCO (US), CLAAS (Germany), Mahindra & Mahindra (India), and Kubota (Japan). These companies are key players in the farm equipment technology and adhere to strategies such as new product developments and strategic expansions through collaborations, partnerships, and mergers & acquisitions to gain traction in the growing demand for farm equipment.

Scope of the Report 

Report Metric

Details

Market size available for years

2018–2025

Base year considered

2019

Forecast period

2020–2025

Forecast units

Volume (Thousand Units) & Value (USD Million)

Segments covered

  • Farm Tractor Market By:
    • Equipment Type ((Tractors, Combines  (Cereal, Non-cereal), Balers, Sprayers))
    • Power Output
    • Drive Type
    • Region
  • Implements Market By Function
  • Farm Equipment Rental Market By:
    • Equipment Type
    • Power Output
    • Drive Type
  • Autonomous Tractor By Power Output

Geographies covered

Asia Oceania, Europe, North America and RoW

Companies covered

John Deere (US), CNH Industrial (The Netherlands), AGCO (US), CLAAS (Germany), Mahindra & Mahindra (India), and Kubota (Japan)
A total of 25 major players covered

This research report categorizes the given market, based farm tractor market by power output, farm tractor market by drive type, farm implements market by function, farm equipment market by equipment type, farm equipment rental market by equipment type, farm tractor rental market by power output, farm tractor rental market by drive type, autonomous tractor by power output and farm tractor market by region

Based on the farm tractor market by power output, the market has been segmented as follows:

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

Based on the farm tractor market by drive type, the market has been segmented as follows:

  • Two-wheel drive
  • Four-wheel drive

Based on farm equipment market by equipment type, the market has been segmented as follows:

  • Combines (Cereal, Non-cereal)
  • Balers
  • Sprayers

Based on the Implements market by function, the market has been segmented as follows:

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

Based on farm equipment rental market by equipment type, the market has been segmented as follows:

  • Tractors
  • Combines
  • Others

Based on farm tractor rental market by power output, the market has been segmented as follows:

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

Based on farm tractor rental market by drive type, the market has been segmented as follows:

  • Two-wheel drive
  • Four-wheel drive

Based on autonomous tractor by power output, the market has been segmented as follows:

  • <30 HP
  • 31-100 HP
  • >100 HP

Based on farm tractor market by Region, the market has been segmented as follows:

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

Recent Developments

  • In July 2020, John Deere unveiled its new CP18E, CP24E, and CP30E cold planers. These new attachments help operators who work on street repairs, leveling uneven pavement, texturing pavement, and cleaning around larger milling machines.
  • In June 2020, Massey Ferguson (brand of AGCO) announced the launch of its new MF 4700 M Series, which includes three new models from 82hp to 100hp, with the option of a completely new Dyna-2, 24 x 24 Powershift transmission.
  • In March 2020, Kubota Corporation announced to invest in an Indian leading tractor manufacturer, Escorts Limited. Through this investment, Kubota intends to increase its presence in India - the world’s largest tractor market.
  • In December 2019, CNH Industrial N.V acquired K Line Ag, an Australian agricultural tillage and residue management equipment manufacturer.
  • In November 2019, Mahindra & Mahindra Ltd. (M&M) showcased innovative Precision Farming solutions powered by advanced digital technologies for the very first time, at Agritechnica 2019. The new solutions include a Smart Fertilizing Solution and a Smart Spraying Solution that can translate the power of imagery analytics, artificial intelligence, and machine learning into commercial benefits for the small landholders.

Frequently Asked Questions (FAQ):

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TABLE OF CONTENTS

1 INTRODUCTION (Page No. - 27)
    1.1 OBJECTIVES
    1.2 MARKET DEFINITION
    1.3 INCLUSIONS & EXCLUSIONS
    1.4 MARKET SCOPE
        FIGURE 1 MARKET SEGMENTATION: FARM EQUIPMENT MARKET
    1.5 LIMITATIONS
    1.6 STAKEHOLDERS
    1.7 SUMMARY OF CHANGES

2 RESEARCH METHODOLOGY (Page No. - 31)
    2.1 RESEARCH DATA
        FIGURE 2 FARM EQUIPMENT MARKET: RESEARCH DESIGN
        FIGURE 3 RESEARCH DESIGN MODEL
    2.2 SECONDARY DATA
           2.2.1 KEY SECONDARY SOURCES FOR FARM EQUIPMENT SALES STATISTICS
           2.2.2 KEY SECONDARY SOURCES FOR MARKET SIZING
           2.2.3 KEY DATA FROM SECONDARY SOURCES
    2.3 PRIMARY DATA
        FIGURE 4 BREAKDOWN OF PRIMARY INTERVIEWS
           2.3.1 SAMPLING TECHNIQUES & DATA COLLECTION METHODS
           2.3.2 PRIMARY PARTICIPANTS
    2.4 MARKET SIZE ESTIMATION
           2.4.1 BOTTOM-UP APPROACH
                 FIGURE 5 FARM TRACTOR MARKET: BOTTOM-UP APPROACH
                 FIGURE 6 FARM TRACTOR RENTAL MARKET: BOTTOM-UP APPROACH
           2.4.2 TOP-DOWN APPROACH
                 FIGURE 7 IMPLEMENT MARKET: TOP-DOWN APPROACH
    2.5 DATA TRIANGULATION
        FIGURE 8 DATA TRIANGULATION
    2.6 ASSUMPTIONS
    2.7 RISK ASSESSMENT & RANGES
        TABLE 1 RISK ASSESSMENT & RANGES

3 EXECUTIVE SUMMARY (Page No. - 43)
    3.1 PRE- AND POST-COVID-19 SCENARIOS
        FIGURE 9 PRE- & POST-COVID-19 SCENARIOS: FARM EQUIPMENT MARKET, 2018-2025 (USD BILLION)
        TABLE 2 FARM EQUIPMENT MARKET: PRE- & POST-COVID-19 SCENARIOS, 2018–2025 (USD BILLION)
    3.2 REPORT SUMMARY
        FIGURE 10 FARM EQUIPMENT MARKET: GLOBAL OUTLOOK
        FIGURE 11 FARM EQUIPMENT MARKET, BY EQUIPMENT TYPE, 2020–2025 (USD MILLION)

4 PREMIUM INSIGHTS (Page No. - 48)
    4.1 FARM EQUIPMENT MARKET TRENDS, FORECASTS & OPPORTUNITIES
        FIGURE 12 ATTRACTIVE MARKET OPPORTUNITIES IN THE FARM EQUIPMENT MARKET
    4.2 FARM EQUIPMENT RENTAL MARKET, BY EQUIPMENT TYPE
        FIGURE 13 TRACTORS ACCOUNTED FOR THE LARGEST SHARE OF FARM EQUIPMENT RENTAL MARKET IN 2020
    4.3 FARM EQUIPMENT MARKET, BY EQUIPMENT TYPE
        FIGURE 14 CEREAL COMBINES MARKET IS EXPECTED TO GROW AT THE HIGHEST CAGR FROM 2020 TO 2025
    4.4 FARM TRACTOR MARKET, BY REGION
        FIGURE 15 ASIA OCEANIA IS ESTIMATED TO HOLD THE LARGEST SHARE OF FARM TRACTOR MARKET IN 2020
    4.5 FARM TRACTOR MARKET, BY DRIVE TYPE
        FIGURE 16 TWO-WHEEL DRIVE EXPECTED TO LEAD THE FARM TRACTOR MARKET FROM 2020 TO 2025
    4.6 FARM TRACTOR MARKET, BY POWER OUTPUT
        FIGURE 17 >250 HP MARKET EXPECTED TO GROW AT THE HIGHEST CAGR DURING FORECAST PERIOD
    4.7 IMPLEMENTS MARKET, BY FUNCTION
        FIGURE 18 PLOWING & CULTIVATING IS ESTIMATED TO LEAD THE IMPLEMENTS MARKET FROM 2020 TO 2025
    4.8 AUTONOMOUS TRACTOR MARKET, BY POWER OUTPUT
        FIGURE 19 <30 HP MARKET EXPECTED TO GROW AT THE HIGHEST CAGR DURING FORECAST PERIOD
    4.9 FARM TRACTOR RENTAL MARKET, BY DRIVE TYPE
        FIGURE 20 TWO-WHEEL DRIVE IS ESTIMATED TO LEAD THE FARM TRACTOR RENTAL MARKET IN 2020
    4.1 FARM TRACTOR RENTAL MARKET, BY POWER OUTPUT
        FIGURE 21 31-70 HP IS ESTIMATED TO LEAD THE FARM TRACTOR RENTAL MARKET FROM 2020–2025

5 MARKET OVERVIEW (Page No. - 54)
    5.1 INTRODUCTION
    5.2 YEARS CONSIDERED FOR THE STUDY
    5.3 GLOBAL HEALTHCARE & ECONOMY – RECOVERY FROM COVID-19 IMPACT & HEALTH ASSESSMENT
        FIGURE 22 COVID-19 PROPAGATION: SELECT COUNTRIES
    5.4 MARKET DYNAMICS
        FIGURE 23 FARM EQUIPMENT MARKET DYNAMICS: DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES
           5.4.1 DRIVERS
                    5.4.1.1 Government support with farm loan waivers/credit finance
                    5.4.1.2 OEM/sales incentives to support dealer service and rental operations
                    5.4.1.3 Contract farming
                            TABLE 3 CHARACTERISTICS OF TRANSACTIONAL AND CONTRACT FARMING
                            TABLE 4 SAMPLE SIZE AND PREVALENCE OF CONTRACT FARMING, 2019
                    5.4.1.4 Increase in farm mechanization
                            FIGURE 24 MECHANIZATION RATE AND CONTRIBUTION OF AGRICULTURE INDUSTRY TO GDP IN MAJOR GEOGRAPHIES, 2019
                            TABLE 5 MECHANIZATION RATE IN INDIA FOR SEVERAL AGRICULTURAL ACTIVITIES
                            TABLE 6 SUPPORT FROM REGIONAL GOVERNMENTS
           5.4.2 RESTRAINTS
                    5.4.2.1 Growth of the rental market
                            TABLE 7 JOHN DEERE: HARVESTERS RENTAL RATES IN THE US, 2019 (USD)
                            TABLE 8 JOHN DEERE: RENTAL RATES IN THE US, 2019 (USD)
                    5.4.2.2 High cost of equipment in emerging economies
                            TABLE 9 PRICES OF TRACTORS IN THE US, 2020 (USD)
                            TABLE 10 PRICES OF VARIOUS FARM EQUIPMENT IN THE US, 2020 (USD)
           5.4.3 OPPORTUNITIES
                    5.4.3.1 Precision agriculture
                    5.4.3.2 Increasing R&D and adoption of electric tractors
           5.4.4 CHALLENGES
                    5.4.4.1 Rapidly changing emission norms and mandates
    5.5 FARM EQUIPMENT MARKET: SCENARIO ANALYSIS
        FIGURE 25 FARM EQUIPMENT MARKET: COVID-19 SCENARIOS
           5.5.1 MOST LIKELY/REALISTIC SCENARIO
                 TABLE 11 REALISTIC SCENARIO: FARM TRACTOR MARKET, BY REGION, 2018–2025 (USD BILLION)
           5.5.2 HIGH COVID-19 IMPACT SCENARIO
                 TABLE 12 HIGH COVID-19 IMPACT SCENARIO: FARM TRACTOR MARKET, BY REGION, 2018–2025 (USD BILLION)
           5.5.3 LOW COVID-19 IMPACT SCENARIO
                 TABLE 13 LOW COVID-19 IMPACT SCENARIO: FARM TRACTOR MARKET, BY REGION, 2018–2025 (USD BILLION)
    5.6 REVENUE SHIFT DRIVING MARKET GROWTH
    5.7 AVERAGE SELLING PRICE TREND OF TRACTORS
        TABLE 14 <30 HP TRACTORS: PRICE RANGE ANALYSIS, BY REGION, 2019 (USD)
        TABLE 15 31-70 HP TRACTORS: PRICE RANGE ANALYSIS, BY REGION, 2019 (USD)
        TABLE 16 71-130 HP TRACTORS: PRICE RANGE ANALYSIS, BY REGION, 2019 (USD)
        TABLE 17 131-250 HP TRACTORS: PRICE RANGE ANALYSIS, BY REGION, 2019 (USD)
        TABLE 18 >250 HP TRACTORS: PRICE RANGE ANALYSIS, BY REGION, 2019 (USD)
    5.8 SUPPLY CHAIN ANALYSIS
    5.9 ECOSYSTEM/MARKET MAP
        FIGURE 26 FARM EQUIPMENT ECOSYSTEM
    5.10 CASE STUDY ANALYSIS

6 FARM TRACTOR MARKET, BY POWER OUTPUT (Page No. - 71)
    6.1 INTRODUCTION
           6.1.1 RESEARCH METHODOLOGY
           6.1.2 ASSUMPTIONS
           6.1.3 INDUSTRY INSIGHTS
                 FIGURE 27 FARM TRACTOR MARKET, BY POWER OUTPUT, 2020–2025 (USD MILLION)
                 TABLE 19 FARM TRACTOR MARKET, BY POWER OUTPUT, 2018–2025 (‘000 UNITS)
                 TABLE 20 FARM TRACTOR MARKET, BY POWER OUTPUT, 2018–2025 (USD MILLION)
    6.2 <30 HP
           6.2.1 SMALL FARM SIZE IN SEVERAL COUNTRIES IS EXPECTED TO DRIVE THE <30 HP TRACTOR MARKET
                 TABLE 21 <30 HP: FARM TRACTOR MARKET, BY REGION, 2018–2025 (‘000 UNITS)
                 TABLE 22 <30 HP: FARM TRACTOR MARKET, BY REGION, 2018–2025 (USD MILLION)
    6.3 31–70 HP
           6.3.1 GOVERNMENT SUBSIDIES AND LOAN WAIVERS IS EXPECTED TO DRIVE THE 31-70 HP TRACTOR MARKET
                 TABLE 23 31–70 HP: FARM TRACTOR MARKET, BY REGION, 2018–2025 (‘000 UNITS)
                 TABLE 24 31-70 HP: FARM TRACTOR MARKET, BY REGION, 2018–2025 (USD MILLION)
    6.4 71–130 HP
           6.4.1 TRACTORS WITH 71-130 HP ARE SUITABLE FOR LARGE FARMLANDS
                 TABLE 25 71–130 HP: FARM TRACTOR MARKET, BY REGION 2018–2025 (‘000 UNITS)
                 TABLE 26 71-130 HP: FARM TRACTOR MARKET, BY REGION, 2018–2025 (USD MILLION)
    6.5 131–250 HP
           6.5.1 EUROPE IS THE LEADING MARKET FOR 131–250 HP TRACTORS
                 TABLE 27 131–250 HP: FARM TRACTOR MARKET, BY REGION, 2018–2025 (‘000 UNITS)
                 TABLE 28 131–250 HP: FARM TRACTOR MARKET, BY REGION, 2018–2025 (USD MILLION)
    6.6 >250 HP
           6.6.1 >250 HP TRACTORS ARE ESSENTIAL IN ORGANIZED FARMING ACTIVITIES
                 TABLE 29 >250 HP: FARM TRACTOR MARKET, BY REGION, 2018-2025 (‘000 UNITS)
                 TABLE 30 >250 HP: FARM TRACTOR MARKET, BY REGION, 2018–2025 (USD MILLION)

7 FARM TRACTOR MARKET, BY DRIVE TYPE (Page No. - 80)
    7.1 INTRODUCTION
           7.1.1 RESEARCH METHODOLOGY
           7.1.2 ASSUMPTIONS
           7.1.3 INDUSTRY INSIGHTS
                 FIGURE 28 FARM TRACTOR MARKET, BY DRIVE TYPE, 2020-2025 (USD MILLION)
                 TABLE 31 FARM TRACTOR MARKET, BY DRIVE TYPE, 2018–2025 (‘000 UNITS)
                 TABLE 32 FARM TRACTOR MARKET, BY DRIVE TYPE, 2018–2025 (USD MILLION)
    7.2 TWO-WHEEL DRIVE
           7.2.1 TWO-WHEEL DRIVE TRACTORS ARE SUITABLE FOR SOWING, PASTURE TOPPING, AND FERTILIZER SPREADING
                 TABLE 33 TWO-WHEEL DRIVE: FARM TRACTOR MARKET, BY REGION, 2018-2025 (‘000 UNITS)
                 TABLE 34 TWO-WHEEL DRIVE: FARM TRACTOR MARKET, BY REGION, 2018-2025 (USD MILLION)
    7.3 FOUR-WHEEL DRIVE
           7.3.1 INCREASING LAUNCHES OF LOW-POWERED FOUR-WHEEL DRIVE TRACTORS IS EXPECTED TO DRIVE THIS MARKET
                 TABLE 35 FOUR-WHEEL DRIVE: FARM TRACTOR MARKET, BY REGION, 2018–2025 (‘000 UNITS)
                 TABLE 36 FOUR-WHEEL DRIVE: FARM TRACTOR MARKET, BY REGION, 2018-2025 (USD MILLION)

8 FARM EQUIPMENT MARKET, BY EQUIPMENT TYPE (Page No. - 86)
    8.1 INTRODUCTION
           8.1.1 RESEARCH METHODOLOGY
           8.1.2 ASSUMPTIONS
           8.1.3 INDUSTRY INSIGHTS
                 FIGURE 29 FARM EQUIPMENT MARKET, BY EQUIPMENT TYPE, 2020–2025 (USD MILLION)
                 TABLE 37 FARM EQUIPMENT MARKET, BY EQUIPMENT TYPE, 2018–2025 (‘000 UNITS)
                 TABLE 38 FARM EQUIPMENT MARKET, BY EQUIPMENT TYPE, 2018–2025 (USD MILLION)
    8.2 CEREAL COMBINES
           8.2.1 INCREASING FARM MECHANIZATION IS EXPECTED TO DRIVE DEMAND FOR COMBINES FOR CEREAL CROPS
                 TABLE 39 CEREAL COMBINES MARKET, BY REGION, 2018–2025 (‘000 UNITS)
                 TABLE 40 CEREAL COMBINES MARKET, BY REGION, 2018–2025 (USD MILLION)
    8.3 NON-CEREAL COMBINES
           8.3.1 IMPROVED SILAGE QUALITY DRIVE THE DEMAND FOR FORAGE HARVESTERS
                 TABLE 41 NON-CEREAL COMBINES MARKET, BY REGION, 2018–2025 (‘000 UNITS)
                 TABLE 42 NON-CEREAL COMBINES MARKET, BY REGION, 2018–2025 (USD MILLION)
    8.4 BALERS
           8.4.1 MINIMIZED WASTAGE AND INCREASED PRODUCTIVITY ARE DRIVE BALERS MARKET
                 TABLE 43 BALERS MARKET, BY REGION, 2018–2025 (‘000 UNITS)
                 TABLE 44 BALERS MARKET, BY REGION, 2018-2025 (USD MILLION)
    8.5 SPRAYERS
           8.5.1 LARGE-SCALE PRODUCTION DRIVE THE DEMAND FOR FERTILIZERS AND THEREBY SPRAYERS
                 TABLE 45 SPRAYERS MARKET, BY REGION, 2018–2025 (‘000 UNITS)
                 TABLE 46 SPRAYERS MARKET, BY REGION, 2018–2025 (USD MILLION)

9 IMPLEMENTS MARKET, BY FUNCTION (Page No. - 94)
    9.1 INTRODUCTION
           9.1.1 RESEARCH METHODOLOGY
           9.1.2 ASSUMPTIONS
           9.1.3 INDUSTRY INSIGHTS
                 FIGURE 30 IMPLEMENTS MARKET, BY FUNCTION, 2020–2025 (USD MILLION)
                 TABLE 47 IMPLEMENTS MARKET, BY FUNCTION, 2018–2025 (USD MILLION)
    9.2 PLOWING & CULTIVATING
           9.2.1 PLOWING & CULTIVATING IMPLEMENTS INCREASE POROSITY OF SOIL AND ENHANCE WATER ABSORBING CAPACITY
                 TABLE 48 PLOWING & CULTIVATING MARKET, BY REGION, 2018–2025 (USD MILLION)
    9.3 SOWING & PLANTING
           9.3.1 ADOPTION OF SOWING & PLANTING IMPLEMENTS REDUCES OVERALL COSTS INCURRED BY FARMERS
                 TABLE 49 SOWING & PLANTING MARKET, BY REGION, 2018–2025 (USD MILLION)
    9.4 PLANT PROTECTION & FERTILIZING
           9.4.1 INCREASING CROP PRODUCTION WITH MINIMAL DAMAGE AND ENHANCED FOOD QUALITY WILL PROPEL THE MARKET FOR PLANT PROTECTION & FERTILIZING IMPLEMENTS
                 TABLE 50 PLANT PROTECTION & FERTILIZING MARKET, BY REGION, 2018–2025 (USD MILLION)
    9.5 HARVESTING & THRESHING
           9.5.1 THE DEMAND FOR TRACTOR-MOUNTED HARVESTING AND THRESHING IMPLEMENTS ARE EXPECTED TO WITNESS POTENTIAL GROWTH ESPECIALLY IN EMERGING COUNTRIES
                 TABLE 51 HARVESTING & THRESHING MARKET, BY REGION, 2018–2025 (USD MILLION)
    9.6 OTHER IMPLEMENTS
           9.6.1 SPECIFIC FARMING APPLICATIONS DRIVE THE DEMAND FOR OTHER IMPLEMENTS
                 TABLE 52 OTHER IMPLEMENTS MARKET, BY REGION, 2018–2025 (USD MILLION)

10 FARM EQUIPMENT RENTAL MARKET, BY EQUIPMENT TYPE (Page No. - 102)
     10.1 INTRODUCTION
             10.1.1 RESEARCH METHODOLOGY
             10.1.2 ASSUMPTIONS
             10.1.3 INDUSTRY INSIGHTS
                    FIGURE 31 FARM EQUIPMENT RENTAL MARKET, BY EQUIPMENT TYPE, 2020–2025 (USD BILLION)
                    TABLE 53 FARM EQUIPMENT RENTAL MARKET, BY EQUIPMENT TYPE, 2018–2025 (USD BILLION)
     10.2 TRACTORS
             10.2.1 INCREASING COLLABORATIONS BETWEEN OEMS AND APPLICATION COMPANIES IS EXPECTED TO DRIVE MARKET
                    TABLE 54 TRACTORS RENTAL MARKET, BY REGION, 2018–2025 (USD BILLION)
     10.3 COMBINES
             10.3.1 DEMAND FOR HIGHER PRODUCTIVITY IS EXPECTED TO DRIVE COMBINES RENTAL MARKET
                    TABLE 55 COMBINES RENTAL MARKET, BY REGION, 2018–2025 (USD BILLION)
     10.4 OTHERS
             10.4.1 HIGH COST OF EQUIPMENT IS EXPECTED TO DRIVE FARMERS TO RENT OTHER EQUIPMENT
                    TABLE 56 OTHERS: FARM EQUIPMENT RENTAL MARKET, BY REGION, 2018–2025 (USD BILLION)

11 FARM TRACTOR RENTAL MARKET, BY POWER OUTPUT (Page No. - 107)
     11.1 INTRODUCTION
             11.1.1 RESEARCH METHODOLOGY
             11.1.2 ASSUMPTIONS
             11.1.3 INDUSTRY INSIGHTS
                    FIGURE 32 FARM TRACTOR RENTAL MARKET, BY REGION, 2020–2025 (USD MILLION)
                    TABLE 57 FARM TRACTOR RENTAL MARKET, BY POWER OUTPUT, 2018–2025 (USD MILLION)
     11.2 <30 HP
             11.2.1 DEMAND FOR UTILITY/COMPACT TRACTORS IS EXPECTED TO DRIVE<30 HP RENTAL MARKET
                    TABLE 58 <30 HP TRACTOR RENTAL MARKET, BY REGION, 2018–2025 (USD MILLION)
     11.3 31–70 HP
             11.3.1 TRACTORS WITH 31-70 HP ARE MODERATELY POWERED AND ARE EASY TO USE
                    TABLE 59 31–70 HP TRACTOR RENTAL MARKET SIZE, BY REGION, 2018–2025 (USD MILLION)
     11.4 71–130 HP
             11.4.1 THE AMERICAS IS THE LARGEST RENTAL MARKET FOR FARM TRACTOR WITH 71-130 HP
                    TABLE 60 71–130 HP TRACTOR RENTAL MARKET SIZE, BY REGION, 2018–2025 (USD MILLION)
     11.5 131–250 HP
             11.5.1 DEMAND FOR 131-250 HP TRACTORS IS HIGH IN EUROPE TO PERFORM LARGE-SCALE AGRICULTURAL OPERATIONS
                    TABLE 61 131–250 HP TRACTOR RENTAL MARKET SIZE, BY REGION, 2018–2025 (USD MILLION)
     11.6 >250 HP
             11.6.1 INCREASING DEMAND FOR COMMERCIAL FARMING IS EXPECTED TO DRIVE >250 HP MARKET
                    TABLE 62 >250 HP TRACTOR RENTAL MARKET SIZE, BY REGION, 2018–2025 (USD MILLION)

12 FARM TRACTOR RENTAL MARKET, BY DRIVE TYPE (Page No. - 113)
     12.1 INTRODUCTION
             12.1.1 RESEARCH METHODOLOGY
             12.1.2 ASSUMPTIONS
             12.1.3 INDUSTRY INSIGHTS
                    FIGURE 33 FARM TRACTOR RENTAL MARKET, BY DRIVE TYPE, 2020–2025 (USD MILLION)
                    TABLE 63 FARM TRACTOR RENTAL MARKET, BY DRIVE TYPE, 2018–2025 (USD MILLION)
     12.2 TWO-WHEEL DRIVE
             12.2.1 INCREASED DEMAND FOR RENTAL SERVICES IN EMERGING COUNTRIES IS EXPECTED TO DRIVE THE 2WD RENTAL MARKET
                    TABLE 64 TWO-WHEEL DRIVE TRACTOR RENTAL MARKET, BY REGION, 2018–2025 (USD MILLION)
     12.3 FOUR-WHEEL DRIVE
             12.3.1 GROWING DEMAND FOR HIGH-POWERED TRACTORS IS EXPECTED TO DRIVE THIS MARKET
                    TABLE 65 FOUR-WHEEL DRIVE TRACTOR RENTAL MARKET, BY REGION, 2018–2025 (USD MILLION)

13 AUTONOMOUS TRACTOR MARKET, BY POWER OUTPUT (Page No. - 118)
     13.1 INTRODUCTION
             13.1.1 RESEARCH METHODOLOGY
             13.1.2 ASSUMPTIONS
             13.1.3 INDUSTRY INSIGHTS
                    FIGURE 34 AUTONOMOUS TRACTOR MARKET, BY POWER OUTPUT, 2022–2030 (USD MILLION)
                    TABLE 66 AUTONOMOUS TRACTOR MARKET, BY POWER OUTPUT, 2022–2030 (‘000 UNITS)
                    TABLE 67 AUTONOMOUS TRACTOR MARKET, BY POWER OUTPUT, 2022–2030 (USD MILLION)
     13.2 <30 HP
             13.2.1 SMALLER FARM SIZES IS EXPECTED TO DRIVE THE DEMAND IN ASIA-OCEANIA
                    TABLE 68 <30 HP: AUTONOMOUS TRACTOR MARKET, BY REGION, 2022–2030 (‘000 UNITS)
                    TABLE 69 <30 HP: AUTONOMOUS TRACTOR MARKET, BY REGION, 2022–2030 (USD MILLION)
     13.3 31–100 HP
             13.3.1 INCREASING DEMAND FOR COMMERCIAL FARMING WITH LARGE FARM SIZES IS EXPECTED TO DRIVE THE 31-100 HP MARKET
                    TABLE 70 31-100 HP: AUTONOMOUS TRACTOR MARKET, BY REGION, 2022–2030 (‘000 UNITS)
                    TABLE 71 31-100 HP: AUTONOMOUS TRACTOR MARKET, BY REGION, 2022–2030 (USD MILLION)
     13.4 >100 HP
             13.4.1 INCREASING POPULARITY OF COMMERCIAL FARMING IS EXPECTED TO DRIVE >100 HP MARKET
                    TABLE 72 >100 HP: AUTONOMOUS TRACTOR MARKET, BY REGION, 2022–2030 (‘000 UNITS)
                    TABLE 73 >100 HP: AUTONOMOUS TRACTOR MARKET, BY REGION, 2022–2030 (USD MILLION)

14 FARM TRACTOR MARKET, BY REGION (Page No. - 125)
     14.1 INTRODUCTION
             14.1.1 RESEARCH METHODOLOGY
             14.1.2 ASSUMPTIONS
             14.1.3 INDUSTRY INSIGHTS
                    FIGURE 35 FARM TRACTOR MARKET, BY REGION, 2020–2025 (USD MILLION)
                    TABLE 74 FARM TRACTOR MARKET, BY REGION, 2018–2025 (‘000 UNITS)
                    TABLE 75 FARM TRACTOR MARKET, BY REGION, 2018–2025 (USD MILLION)
     14.2 ASIA OCEANIA
          FIGURE 36 ASIA OCEANIA: FARM TRACTOR MARKET SNAPSHOT
          TABLE 76 ASIA OCEANIA: FARM TRACTOR MARKER, BY COUNTRY, 2018–2025 (‘000 UNITS)
          TABLE 77 ASIA-OCEANIA: FARM TRACTOR MARKER, BY COUNTRY, 2018–2025 (USD MILLION)
             14.2.1 AUSTRALIA
                        14.2.1.1 Government assistance to farmers is expected to drive the market
                                 TABLE 78 AUSTRALIA: FARM TRACTOR MARKET, BY POWER OUTPUT, 2018–2025 (‘000 UNITS)
                                 TABLE 79 AUSTRALIA: FARM TRACTOR MARKET, BY POWER OUTPUT, 2018–2025 (USD MILLION)
             14.2.2 CHINA
                        14.2.2.1 Favorable government policies to subsidize tractor sales drive in china
                                 TABLE 80 CHINA: FARM TRACTOR MARKET, BY POWER OUTPUT, 2018–2025 (‘000 UNITS)
                                 TABLE 81 CHINA: FARM TRACTOR MARKET, BY POWER OUTPUT, 2018–2025 (USD MILLION)
             14.2.3 INDIA
                        14.2.3.1 Increasing farm mechanization is expected to drive the Indian farm tractor market
                                 TABLE 82 INDIA: FARM TRACTOR MARKET, BY POWER OUTPUT, 2018–2025 (‘000 UNITS)
                                 TABLE 83 INDIA: FARM TRACTOR MARKET, BY POWER OUTPUT, 2018–2025 (USD MILLION)
             14.2.4 JAPAN
                        14.2.4.1 Increasing focus on encouraging agricultural co-operatives is expected to fuel the market in Japan
                                 TABLE 84 JAPAN: FARM TRACTOR MARKET, BY POWER OUTPUT, 2018–2025 (‘000 UNITS)
                                 TABLE 85 JAPAN: FARM TRACTOR MARKET, BY POWER OUTPUT, 2018–2025 (USD MILLION)
             14.2.5 SOUTH KOREA
                        14.2.5.1 Debt restructuring plans for farmers is expected to drive the South Korean farm tractor market
                                 TABLE 86 SOUTH KOREA: FARM TRACTOR MARKET, BY POWER OUTPUT, 2018–2025 (‘000 UNITS)
                                 TABLE 87 SOUTH KOREA: FARM TRACTOR MARKET, BY POWER OUTPUT, 2018–2025 (USD MILLION)
             14.2.6 REST OF ASIA OCEANIA
                        14.2.6.1 Favorable government policies drive the farm tractors market in this region
                                 TABLE 88 REST OF ASIA OCEANIA: FARM TRACTOR MARKET, BY POWER OUTPUT, 2018–2025 (‘000 UNITS)
                                 TABLE 89 REST OF ASIA OCEANIA: FARM TRACTOR MARKET, BY POWER OUTPUT, 2018–2025 (USD MILLION)
     14.3 EUROPE
          FIGURE 37 EUROPE: FARM TRACTOR MARKET SNAPSHOT
          TABLE 90 EUROPE: FARM TRACTOR MARKER, BY COUNTRY, 2018–2025 (‘000 UNITS)
          TABLE 91 EUROPE: FARM TRACTOR MARKER, BY COUNTRY, 2018–2025 (USD MILLION)
             14.3.1 FRANCE
                        14.3.1.1 Shortage of labor is expected to drive the farm tractor market in France
                                 TABLE 92 FRANCE: FARM TRACTOR MARKET, BY POWER OUTPUT, 2018–2025 (‘000 UNITS)
                                 TABLE 93 FRANCE: FARM TRACTOR MARKET, BY POWER OUTPUT, 2018–2025 (USD MILLION)
             14.3.2 GERMANY
                        14.3.2.1 Increasing demand for high-powered tractors is expected to drive the market in this country
                                 TABLE 94 GERMANY: FARM TRACTOR MARKET, BY POWER OUTPUT, 2018–2025 (‘000 UNITS)
                                 TABLE 95 GERMANY: FARM TRACTOR MARKET, BY POWER OUTPUT, 2018–2025 (USD MILLION)
             14.3.3 ITALY
                        14.3.3.1 Increasing popularity of precision agriculture is expected to fuel market in Italy
                                 TABLE 96 ITALY: FARM TRACTOR MARKET, BY POWER OUTPUT, 2018–2025 (‘000 UNITS)
                                 TABLE 97 ITALY: FARM TRACTOR MARKET, BY POWER OUTPUT, 2018–2025 (USD MILLION)
             14.3.4 POLAND
                        14.3.4.1 Increasing farm subsidies is expected to drive market in Poland
                                 TABLE 98 POLAND: FARM TRACTOR MARKET, BY POWER OUTPUT, 2018–2025 (‘000 UNITS)
                                 TABLE 99 POLAND: FARM TRACTOR MARKET, BY POWER OUTPUT, 2018–2025 (USD MILLION)
             14.3.5 RUSSIA
                        14.3.5.1 Small and medium-sized farms are expected to propel the market in this country
                                 TABLE 100 RUSSIA: FARM TRACTOR MARKET, BY POWER OUTPUT, 2018–2025 (‘000 UNITS)
                                 TABLE 101 RUSSIA: FARM TRACTOR MARKET, BY POWER OUTPUT, 2018–2025 (USD MILLION)
             14.3.6 SPAIN
                        14.3.6.1 Shortage of labor and increasing focus on precision agriculture are expected to fuel market in Spain
                                 TABLE 102 SPAIN: FARM TRACTOR MARKET, BY POWER OUTPUT, 2018–2025 (‘000 UNITS)
                                 TABLE 103 SPAIN: FARM TRACTOR MARKET, BY POWER OUTPUT, 2018–2025 (USD MILLION)
             14.3.7 TURKEY
                        14.3.7.1 Increasing farm sizes & favorable government policies are expected to propel the market in Turkey
                                 TABLE 104 TURKEY: FARM TRACTOR MARKET, BY POWER OUTPUT, 2018–2025 (‘000 UNITS)
                                 TABLE 105 TURKEY: FARM TRACTOR MARKET, BY POWER OUTPUT, 2018–2025 (USD MILLION)
             14.3.8 UK
                        14.3.8.1 Growing demand for high-powered tractors is expected to drive the market in the UK
                                 TABLE 106 UK: FARM TRACTOR MARKET, BY POWER OUTPUT, 2018–2025 (‘000 UNITS)
                                 TABLE 107 UK: FARM TRACTOR MARKET, BY POWER OUTPUT, 2018–2025 (USD MILLION)
             14.3.9 REST OF EUROPE
                        14.3.9.1 Financial aids from the governments of the countries are expected to drive the market in this region
                                 TABLE 108 REST OF EUROPE: FARM TRACTOR MARKET, BY POWER OUTPUT, 2018–2025 (‘000 UNITS)
                                 TABLE 109 REST OF EUROPE: FARM TRACTOR MARKET, BY POWER OUTPUT, 2018–2025 (USD MILLION)
     14.4 NORTH AMERICA
          FIGURE 38 NORTH AMERICA FARM TRACTOR MARKET, BY COUNTRY, 2020–2025 (USD MILLION)
          TABLE 110 NORTH AMERICA: FARM TRACTOR MARKER, BY COUNTRY, 2018–2025 (‘000 UNITS)
          TABLE 111 NORTH AMERICA: FARM TRACTOR MARKER, BY COUNTRY, 2018–2025 (USD MILLION)
             14.4.1 CANADA
                        14.4.1.1 Growing farm mechanization and investment by government for crop production are expected to drive market in this country
                                 TABLE 112 CANADA: FARM TRACTOR MARKET, BY POWER OUTPUT, 2018–2025 (‘000 UNITS)
                                 TABLE 113 CANADA: FARM TRACTOR MARKET, BY POWER OUTPUT, 2018–2025 (USD MILLION)
             14.4.2 MEXICO
                        14.4.2.1 Government support and presence of OEMs fuel the market in Mexico
                                 TABLE 114 MEXICO: FARM TRACTOR MARKET, BY POWER OUTPUT, 2018–2025 (‘000 UNITS)
                                 TABLE 115 MEXICO: FARM TRACTOR MARKET, BY POWER OUTPUT, 2018–2025 (USD MILLION)
             14.4.3 US
                        14.4.3.1 Presence of key players is expected to boost the tractors market in the US
                                 TABLE 116 US: FARM TRACTOR MARKET, BY POWER OUTPUT, 2018–2025 (‘000 UNITS)
                                 TABLE 117 US: FARM TRACTOR MARKET, BY POWER OUTPUT, 2018–2025 (USD MILLION)
     14.5 ROW
          FIGURE 39 ROW FARM TRACTOR MARKET, BY COUNTRY, 2020–2025 (USD MILLION)
          TABLE 118 ROW: FARM TRACTOR MARKER, BY COUNTRY, 2018–2025 (‘000 UNITS)
          TABLE 119 ROW: FARM TRACTOR MARKER, BY COUNTRY, 2018–2025 (USD MILLION)
             14.5.1 ARGENTINA
                        14.5.1.1 Focus of key players in manufacturing tractors is expected to drive the market in Argentina
                                 TABLE 120 ARGENTINA: FARM TRACTOR MARKET, BY POWER OUTPUT, 2018–2025 (‘000 UNITS)
                                 TABLE 121 ARGENTINA: FARM TRACTOR MARKET, BY POWER OUTPUT, 2018–2025 (USD MILLION)
             14.5.2 BRAZIL
                        14.5.2.1 Increasing export of tractors drive the market in this country
                                 TABLE 122 BRAZIL: FARM TRACTOR MARKET, BY POWER OUTPUT, 2018–2025 (‘000 UNITS)
                                 TABLE 123 BRAZIL: FARM TRACTOR MARKET, BY POWER OUTPUT, 2018–2025 (USD MILLION)
             14.5.3 REST OF ROW
                        14.5.3.1 Exports of produce and government subsidies propel the market in this region
                                 TABLE 124 REST OF ROW: FARM TRACTOR MARKET, BY POWER OUTPUT, 2018–2025 (‘000 UNITS)
                                 TABLE 125 REST OF ROW: FARM TRACTOR MARKET, BY POWER OUTPUT, 2018–2025 (USD MILLION)

15 RECOMMENDATIONS BY MARKETSANDMARKETS (Page No. - 157)
     15.1 ASIA OCEANIA IS A POTENTIAL MARKET FOR FARM EQUIPMENT
     15.2 COMPANIES SHOULD INCREASE FOCUS ON FOUR-WHEEL DRIVE TRACTORS
     15.3 GROWTH OF AUTONOMOUS TRACTORS IN THE COMING YEARS
     15.4 CONCLUSION

16 COMPETITIVE LANDSCAPE (Page No. - 159)
     16.1 OVERVIEW
     16.2 MARKET EVALUATION FRAMEWORK
          FIGURE 40 FARM EQUIPMENT MARKET EVALUATION FRAMEWORK
     16.3 MARKET SHARE ANALYSIS
          FIGURE 41 FARM EQUIPMENT MARKET SHARE ANALYSIS, 2019
     16.4 REVENUE ANALYSIS OF TOP FIVE PLAYERS
     16.5 KEY MARKET DEVELOPMENTS
          FIGURE 42 COMPANIES ADOPTED NEW PRODUCT DEVELOPMENT AS A KEY GROWTH STRATEGY, 2018-2020
     16.6 COMPETITIVE SCENARIO
             16.6.1 NEW PRODUCT DEVELOPMENT
                    TABLE 126 NEW PRODUCT DEVELOPMENT, 2019-2020
             16.6.2 EXPANSIONS
                    TABLE 127 EXPANSIONS, 2019-2020
             16.6.3 ACQUISITIONS
                    TABLE 128 ACQUISITIONS, 2019-2020
             16.6.4 INVESTMENT/AGREEMENTS
                    TABLE 129 INVESTMENTS/AGREEMENTS, 2019-2020
     16.7 RIGHT TO WIN

17 COMPANY EVALUATION MATRIX AND COMPETITIVE PROFILES (Page No. - 168)
     17.1 INTRODUCTION
             17.1.1 STAR
             17.1.2 EMERGING LEADER
             17.1.3 PERVASIVE
             17.1.4 PARTICIPANT
     17.2 COMPETITIVE LEADERSHIP MAPPING: FARM EQUIPMENT MANUFACTURERS
     17.3 COMPETITIVE BENCHMARKING
          FIGURE 43 COMPANY-WISE PRODUCT OFFERING ANALYSIS
          FIGURE 44 COMPANY-WISE BUSINESS STRATEGY ANALYSIS
     17.4 COMPETITIVE LEADERSHIP MAPPING: FARM EQUIPMENT MANUFACTURERS
             17.4.1 COMPETITIVE BENCHMARKING
                        17.4.1.1 Company-wise product offering analysis
                        17.4.1.2 Company-wise business strategy analysis
     17.5 COMPANY PROFILES
(Business overview, Products offered, Recent Developments, SWOT analysis, MNM view)*
             17.5.1 JOHN DEERE
                    FIGURE 45 JOHN DEERE: COMPANY SNAPSHOT
                    TABLE 130 JOHN DEERE: ORGANIC DEVELOPMENTS
                    TABLE 131 JOHN DEERE: INORGANIC DEVELOPMENTS
             17.5.2 CNH INDUSTRIAL
                    FIGURE 46 CNH INDUSTRIAL: COMPANY SNAPSHOT
                    TABLE 132 CNH INDUSTRIAL: ORGANIC DEVELOPMENTS
                    TABLE 133 CNH INDUSTRIAL: INORGANIC DEVELOPMENTS
             17.5.3 MAHINDRA & MAHINDRA
                    FIGURE 47 MAHINDRA & MAHINDRA: COMPANY SNAPSHOT
                    TABLE 134 MAHINDRA & MAHINDRA: ORGANIC DEVELOPMENTS
             17.5.4 AGCO CORPORATION
                    FIGURE 48 AGCO CORPORATION: COMPANY SNAPSHOT
                    TABLE 135 AGCO: ORGANIC DEVELOPMENTS
                    TABLE 136 AGCO: INORGANIC DEVELOPMENTS
             17.5.5 KUBOTA CORPORATION
                    FIGURE 49 KUBOTA CORPORATION: COMPANY SNAPSHOT
                    TABLE 137 KUBOTA CORPORATION: ORGANIC DEVELOPMENTS
                    TABLE 138 KUBOTA CORPORATION: INORGANIC DEVELOPMENTS
             17.5.6 CLAAS KGAA
                    FIGURE 50 CLAAS KGAA: COMPANY SNAPSHOT
                    TABLE 139 CLAAS KGAA: ORGANIC DEVELOPMENTS,
                    TABLE 140 CLAAS KGAA: INORGANIC DEVELOPMENTS
             17.5.7 ISEKI & CO.
                    FIGURE 51 ISEKI & CO.: COMPANY SNAPSHOT
                    TABLE 141 INORGANIC DEVELOPMENTS, ISEKI & CO.
             17.5.8 JCB
                    FIGURE 52 JCB: COMPANY SNAPSHOT
                    TABLE 142 ORGANIC DEVELOPMENTS, JCB
                    TABLE 143 INORGANIC DEVELOPMENTS, JCB
             17.5.9 SDF GROUP
                    FIGURE 53 SDF GROUP: COMPANY SNAPSHOT
                    TABLE 144 ORGANIC DEVELOPMENTS, SDF GROUP
             17.5.10 YANMAR
                     FIGURE 54 YANMAR: COMPANY SNAPSHOT
                     TABLE 145 ORGANIC DEVELOPMENTS, YANMAR
*Details on Business overview, Products offered, Recent Developments, SWOT analysis, MNM view might not be captured in case of unlisted companies.
     17.6 ADDITIONAL COMPANIES
             17.6.1 ASIA OCEANIA
                        17.6.1.1 Escorts Ltd.
                        17.6.1.2 Tractors and Farm Equipment Limited
                        17.6.1.3 Sonalika Group
                        17.6.1.4 Tong Yang Moolsan (TYM)
                        17.6.1.5 Daedong Industrial Company Ltd.
             17.6.2 EUROPE
                        17.6.2.1 Exel Industries
                        17.6.2.2 Bucher Industries
                        17.6.2.3 Zetor Tractors
                        17.6.2.4 Argo Tractors S.P.A
                        17.6.2.5 Agrostroj Pelhrimov A.S
                        17.6.2.6 Concern Tractor Plants
                        17.6.2.7 Amazone H. Dreyer GMBH & Co. Kg
             17.6.3 NORTH AMERICA
                        17.6.3.1 Alamo Group
                        17.6.3.2 Buhler Industries
                        17.6.3.3 Autonomous Tractor Corporation

18 APPENDIX (Page No. - 217)
     18.1 CURRENCY & PRICING
     18.2 INSIGHTS OF INDUSTRY EXPERTS
     18.3 DISCUSSION GUIDE
     18.4 KNOWLEDGE STORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL
     18.5 AVAILABLE CUSTOMIZATIONS
             18.5.1 COMBINES MARKET, BY COUNTRY
                        18.5.1.1 Asia-Oceania
                        18.5.1.2 Europe
                        18.5.1.3 North America
                        18.5.1.4 RoW
             18.5.2 FARM TRACTORS TELEMATICS MARKET, BY REGION
                        18.5.2.1 Asia-Oceania
                        18.5.2.2 Europe
                        18.5.2.3 North America
                        18.5.2.4 RoW
             18.5.3 DETAILED ANALYSIS AND PROFILING OF ADDITIONAL MARKET PLAYERS (UPTO 3)
     18.6 RELATED REPORTS
     18.7 AUTHOR DETAILS

 

The study involved four major activities in estimating the current size of the farm equipment market. Exhaustive secondary research was done to collect information on the market, the peer market, and the parent market. The next step was to validate these findings, assumptions, and sizing with the industry experts across value chains through primary research. The bottom-up and top-down approaches were employed to estimate the complete market size. Thereafter, market breakdown and data triangulation processes were used to estimate the market size of segments and subsegments.

Secondary Research

In the secondary research process, various secondary sources farm equipment associations and organizations, corporate filings (such as annual reports, investor presentations, and financial statements), and trade, business, and industry associations [ Italian Agricultural Machinery Manufacturers Federation (FEDERUNACOMA), Tractors Manufacturers Association (TMA), European Agricultural Machinery Industry Association (CEMA) etc.],  related magazine articles, directories, technical handbooks, World Economic Outlook, trade websites, and technical articles have been used to identify and collect information useful for an extensive commercial study of the farm equipment market.

Primary Research

In the primary research process, various primary sources from both supply side and industry associations were interviewed to obtain qualitative and quantitative information on the market. Primary interviews have been conducted to gather insights such as farm equipment pump demand by power output, drive type, future technology trends, and highest potential region in the farm equipment market. The primary sources from the supply side included various industry experts, such as CXOs, vice presidents, directors from business development, marketing, product development/innovation teams, and related key executives from various key companies. Below is the breakdown of primary respondents:

Farm Equipment Market Size, and Share

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

Market Size Estimation

The top-down and bottom-up approaches were used to estimate and validate the size of the farm equipment market. In these approaches, the sales statistics for tractors, combines, balers, and sprayers at a country and regional level were considered to estimate the aggregate market of various farm equipment. The research methodology used to estimate the market size includes the following:

  • The key players in the industry and markets have been identified through extensive secondary research.
  • The industry’s supply chain and market size, in terms of value, have been determined through primary and secondary research processes.
  • All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources.
  • Qualitative aspects such as market drivers, restraints, opportunities, and challenges have been taken into consideration while calculating and forecasting the market size.

Bottom-Up approach

The bottom-up approach was used to estimate and validate the size of the tractor market, by power output. Country-level tractor sales were multiplied by country-level penetration of each power output category (<30 HP, 31-70 HP, 71-130 HP, 131-250 HP, and >250 HP) to determine the market size of farm tractors, by power output, in terms of volume. The country-level farm tractor market size, in terms of volume, of each power output category is added to derive the regional market. All the regional markets were further added to derive the global farm tractor market, by power output. The country level farm tractor market is then multiplied by the country-level average selling price of tractors by each power output category, which results in country-level market size. The addition of respective countries gives the regional level market, and then the summation of regional level markets gives the global farm tractor market, by power output, in terms of value.

A similar approach was used to derive the farm tractor market by equipment type (balers, sprayers, and combines), and the rental market, by equipment type (self-propelled and implements), however, these submarkets are analyzed at regional level.

Farm Equipment Market Size, and Share

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

Farm Equipment Market Size, and Share

Top-Down Approach

The top-down approach was used to estimate and validate the size of the implements market, by function. The global market size, in terms of value, for implements, by function, was derived by identifying the value of implements involved in different agricultural activities at a global level. Various secondary sources were used to estimate the regional-level penetration for each implement, which was validated through primary respondents. This leads to the estimation of regional-level implements market, by function (plowing & cultivating, sowing & planting, plant protection & fertilizing, harvesting & threshing, and haying). A similar of approach was used to derive the autonomous tractor market, by power output (<30 hp, 31-100 hp, and >100 hp), by drive type (2-wheel drive and 4-wheel drive), in terms of volume and value.

Farm Equipment Market Size, and Share

Data Triangulation

After arriving at the overall market size—using the market size estimation processes as explained above—the market was split into several segments and sub-segments. To complete the overall market engineering process and arrive at the statistics of each market segment and subsegment, the data triangulation and market breakdown procedures were employed, wherever applicable. The data was triangulated by studying various factors and trends from both the demand and supply sides.

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 tractor 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 Pacific, 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
  • 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, and others) 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 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 analyze recent developments, alliances, joint ventures, mergers & acquisitions,
    new product launches, and other activities carried out by key industry participants in the farm equipment market

Available Customizations

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  • Combines Market, by region (Asia Oceania, Europe, North America and RoW)
  • Farm Tractors telematics market, by region (Asia Oceania, Europe, North America and RoW)
COVID-19

Get in-depth analysis of the COVID-19 impact on the Farm Equipment Market

Benchmarking the rapid strategy shifts of the Top 100 companies in the Farm Equipment Market

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Report Code
AT 2835
Published ON
Sep, 2020
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