Farm Equipment Market

Farm Equipment Market by Tractor Power Output (<30,31–70, 71–130, 131–250, >250), Drive (2WD, 4WD, & Autonomous), Combines, Baler, Sprayer, Implement (Plow & Cultivate, Sow, Harvest, Plant Protection & Fertilizer), Rental, & Region - Global Forecast to 2025

Report Code: AT 2835 Oct, 2019, by marketsandmarkets.com
Updated date -

The farm equipment market is projected to reach USD 135.2 billion by 2025 from USD 102.5 billion in 2018, at a CAGR of 4.04% during the forecast period.

The key factors that influence a buyer’s decision include the strength and quality of a company’s dealers, the quality and pricing of products, dealer or brand loyalty, product availability, terms of financing, and customer services.

Farm Equipment Market

To request to know about sample pages on the above findings, click Request Sample

Market Dynamics

Increasing mechanization trends across the globe

The demand for food is directly proportional to the rising global population. According to the Population Reference Bureau, the world population is estimated to grow from 7.6 billion in 2017 to 9.9 billion by 2050. The increasing adoption of farm mechanization has contributed to the development and sustainability of the agricultural sector. Farm mechanization includes the usage of tractors, combines, balers, and sprayers to meet the demand for increased food products.

Developed countries such as the US, Europe, and Russia have a higher rate of mechanization in the range of 80–97%. However, in developing countries such as China and India, mechanization rate ranges between 40% and 45%. Rising adoption of mechanization in developing countries would help increase productivity in the coming years. The farm mechanization rate is about 90–95% in developed countries such as the US, Germany, Canada, and France. On the other hand, China, India, and Indonesia have a low mechanization rate. However, it is expected to grow at a significant rate in the coming years with the support of the government. Leading manufacturers such as John Deere and CNH Industrial have developed new mechanized irrigation systems that use regenerative water technology to conserve water and enhance crop productivity.

Thus, the growing population and urbanization have increased the use of mechanization in the farming process. With the increase in mechanization and deployment of technological products, the farm equipment market is expected to have a positive outlook during the forecast period.

Intense competition among regional players

The agricultural industry is highly competitive. The market players include several large national and international full-line suppliers, as well as numerous short-line and specialty manufacturers with different manufacturing and marketing methods. For instance, John Deere, AGCO Corporation, and CNH Industrial have a strong worldwide presence. These international players have to compete with regional players that have a significant market share in a country or region. For instance, Mahindra & Mahindra, VST Tillers, and Sonalika have a significant market share in India.

Stiff competition in the agriculture business may impact the market prices of farm equipment, which in turn may adversely affect the sale margins and operation of a company. Also, if a manufacturer fails to compete successfully against other farm equipment manufacturers, it could lose dealers and customers, and net sale and profitability may decline. Therefore, global players find it difficult to compete with regional players that offer farm equipment at a lower cost and a wide choice of products according to local preferences. Also, the regional players have an extensive distribution and service network. Hence, the dominance of regional players acts as a restraining factor for global manufacturers.

Increase in adoption of advanced technologies

The increased adoption of technology in the agriculture sector can be witnessed globally. Increased farm productivity can be attributed to technological advancements that have made farmers aware of the best practices in farming. Farmers can now predict weather conditions, assess soil conditions, predict yield, and prioritize crop sowing and cultivation that can help to increase the yield. Manufacturers of farm equipment have introduced machinery that is equipped with the latest technologies such as GPS, telematics, and guidance devices to optimize equipment performance. Technological adoptions include the use of big data, Internet of Things (IoT), and Artificial Intelligence (AI).

Big data

This technology offers a huge potential on farms. Sensors are used in the farm equipment to help farmers manage the fleet and reduce downtime of the tractors. The data collected is combined with historical and real-time weather data, soil conditions, crop features, and other data and presented on digital platforms. This information helps to make decisions such as which crops to plant, where to plant, when to plow, where the best return will be made, and other cropping-related decisions. Therefore, big data is a key driver of the progress made in cutting-edge technological interventions in farming such as precision agriculture and automated farm machinery operations.

IoT (internet of things)

The IoT technology uses robotics, drones, GPS, and remote sensing technologies and computer imaging. The sensors help to determine soil conditions, groundwater levels, determine NDVI, Chlorophyll Index, and highlight crop stress in time.

Artificial intelligence (AI)

A number of farm operations including sowing, planting, fertilizer spray, harvesting, weeding, and post-harvest will be carried out via applications and processes developed around AI. This technology is in a testing stage. With time and capital investment, all modern-day farm operations will be automated, leading to an increase in efficiency and reduction in production cost.

<30 hp power range is expected to be the largest segment in the farm tractor market, by power output, during the forecast period

Tractors with <30 hp power are estimated to hold the largest market share, in terms of volume, during the forecast period. China, India, and the US lead the sales of farm tractors and have a high demand for <30 hp tractors. The Chinese market has a high demand for less than 30 hp tractors and combines. According to the publication from “China Agricultural Machinery Distribution Association”, ~65% market belonged to <30 hp tractors in 2017. According to a publication from the Association of Equipment Manufacturers (AEM), the US and Canada had approximately 62–64% market of <40 hp farm tractors in 2017. Factors such as lower price compared to large tractors and small farmland per farmer would drive the market for small and medium farm tractors in Asia Oceania and North America.

Two-wheel drive is estimated to be the largest farm tractors market, by drive type, during the forecast period

The two-wheel drive is estimated to account for 90–95% share in the global farm tractor market in 2018. Due to the high sales of small tractors, Asia Oceania is estimated to be the key contributor to the growth of this market. North America is also expected to contribute significantly to the growth of this segment. According to John Deere factbook statistics (2017) published by AEM, the sales of two-wheel drive farm tractors was nearly 99% in Asia Oceania and North America.

Plowing & cultivating leads the implements market from 2018 to 2025

Plowing & cultivating is anticipated to hold the largest share in the implements market. The implements used in this process perform the initial operation of breaking compact earth surface and loosen the soil mass to help in even penetration of crops. The need to improve the soil fertility level, maintain the nutrients, and enhance productivity would boost the demand for plowing & cultivating implements during the forecast period.

<30 hp tractors are estimated to hold the largest share of autonomous tractors market, by power output

<30 hp tractors are expected to lead the autonomous tractors market, by power output. These tractors would be used for cash-rich crops such as grapes, vineries, and strawberry that require small, low weight tractors to reduce soil compaction and enhance precision and accuracy. Also, these tractors are ideal for improving the fuel economy and operational efficiency. These benefits can propel the growth of <30 hp farm tractors in the future.

Farm Equipment Market

Asia Oceania is expected to account for the largest market share during the forecast period

Asia Oceania is estimated to be the largest and fastest growing market for agricultural equipment from 2018 to 2025. China and India hold a dominant position in this market due 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. According to the Agrievolution Tractor Market report, China continues to hold the top position in the global market despite a decline in tractor sales in recent years. With increased government support and incentives, farmers have increased the usage of modern agricultural equipment and practices. In India, the 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. The Australian Government raised around USD 190.5 million to support R&D activities in the agriculture sector. All these factors have resulted in the growth of the market in the region.

Tractor is anticipated to be the largest and fastest growing segment of farm equipment rental market

Tractor is estimated to be the largest and fastest growing segment of market. Farm tractor accounts for 55–60% share of the market globally. The rental market is driven by factors such as the high cost of high horsepower tractors, combines, balers, and tillers. Renting equipment provides additional benefits such as low rental cost and no ownership and maintenance costs that ease the burden on farmers. Also, the newer equipment is equipped with advanced technologies such as telematics, swath control, and auto steering control that further hike the equipment cost. Thus, the availability of newer and advanced equipment such as tractors and others at a reasonable cost without the maintenance cost would drive the market.

Some of the key players in the farm equipment market are John Deere (US), AGCO Corporation (US), CNH Industrial (UK), CLAAS (Germany), Kubota (Japan), Mahindra & Mahindra (India), SPF Group (Italy), J C Bamford Excavators (UK), and Iseki (Japan). John Deere adopted the strategies of mergers and acquisitions and new product launch to retain its market position, while CNH Industrial adopted acquisition and expansion strategies to sustain its market position.

Scope of the Report

Report Metric

Details

 

Market Size Available for Years

 

2016–2025

Base Year Considered

2017

Forecast Period

2018–2025

Forecast Units

Value (USD million/billion) and Volume (‘000/million units)

Segments Covered

Tractor market by power output, Tractor market by drive type, Autonomous tractor by power output equipment type, Implement by function, Farm equipment rental market, and Region

Geographies Covered

Asia Oceania, Europe, North America, and RoW

Companies Covered

John Deere (US), CNH Industrial (UK), Mahindra & Mahindra (India), AGCO Corporation (US), Kubota Corporation (Japan)
Total 20 major players covered

To speak to our analyst for a discussion on the above findings, click Speak to Analyst

Table of Contents

1 Introduction (Page No. - 19)
    1.1 Objectives
    1.2 Farm Equipment Market Definition
    1.3 Market Scope
           1.3.1 Years Considered for the Study
    1.4 Currency & Pricing
    1.5 Package Size
    1.6 Limitations
    1.7 Stakeholders

2 Research Methodology (Page No. - 24)
    2.1 Research Data
    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
           2.3.1 Sampling Techniques & Data Collection Methods
           2.3.2 Primary Participants
    2.4 Farm Equipment Market Size Estimation
           2.4.1 Bottom-Up Approach
           2.4.2 Top-Down Approach
    2.5 Market Breakdown and Data Triangulation
    2.6 Assumptions

3 Executive Summary (Page No. - 34)

4 Premium Insights (Page No. - 37)
    4.1 Farm Equipment Market Trend, Forecast & Opportunity
    4.2 By Region
    4.3 By Equipment Type
    4.4 By Region
    4.5 Farm Tractor, By Drive Type
    4.6 Combines Market, By Crop Type
    4.7 Implements Market, By Function
    4.8 Autonomous Tractor Market, By Power Output
    4.9 Farm Equipment Rental Market

5 Overview (Page No. - 42)
    5.1 Introduction
    5.2 Farm Equipment Market Dynamics
           5.2.1 Drivers
                    5.2.1.1 Increasing Mechanization Trends Across the Globe
                               5.2.1.1.1 Shortage of Skilled Labor and Increasing Labor Cost
                               5.2.1.1.2 Rising Demand for Productivity and Operational Efficiency
                               5.2.1.1.3 Rising Import/Export of Cereals
                    5.2.1.2 Growing Institutional Credits/Increasing PPP
           5.2.2 Restraints
                    5.2.2.1 Fragmented Market
                               5.2.2.1.1 Intense Competition Among Regional Players
                               5.2.2.1.2 Local Implements Manufacturers vs OEMS
                    5.2.2.2 High Cost of Agriculture Equipment
           5.2.3 Opportunities
                    5.2.3.1 Innovation in the Field of Autonomous Tractors
                    5.2.3.2 Increase in Adoption of Advanced Technologies
                               5.2.3.2.1 Big Data
                               5.2.3.2.2 IoT (Internet of Things)
                               5.2.3.2.3 Artificial Intelligence (AI)
           5.2.4 Challenges
                    5.2.4.1 Lack of Safety-Related Regulation in Developing Regions

6 Industry Trends (Page No. - 51)
    6.1 Introduction
    6.2 Global Crop Production
           6.2.1 Asia Oceania
           6.2.2 Europe
           6.2.3 Americas
    6.3 Porter’s Five Forces Analysis
    6.4 Farm Equipment Market Trends: Indian Tractors
           6.4.1 Market Share: Indian Farm Tractors
           6.4.2 India: Key Industry Trends
           6.4.3 Tractor Sales, By States, 2017 vs 2018
    6.5 Revenue Impact

7 Farm Tractor Market, By Power Output (Page No. - 59)
The Chapter is Further Segmented at Regional Level and Considered Regions are Asia Oceania, Europe, North America and RoW
    7.1 Introduction
           7.1.1 Research Methodology
           7.1.2 Assumptions
           7.1.3 Industry Insights
    7.2 <30 hp
           7.2.1 China & US Dominate the <30 hp Tractor Market
    7.3 31–70 hp
           7.3.1 Asia Oceania Lead the 31-70 hp Tractor Market
    7.4 71–130 hp
           7.4.1 Europe Hold the Largest Market Share for 71-130 hp Tractor
    7.5 131–250 hp
           7.5.1 Europe & North America are the Prominent 131-250 hp Tractor Market
    7.6 >250 hp
           7.6.1 >250 hp Tractors are Essential in Organised Farming Activities

8 Farm Tractor Market, By Drive Type (Page No. - 68)
The Chapter is Further Segmented at Regional Level and Considered Regions are Asia Oceania, Europe, North America and RoW
    8.1 Introduction
           8.1.1 Research Methodology
           8.1.2 Assumptions
           8.1.3 Industry Insights
    8.2 Two-Wheel Drive
           8.2.1 Asia Oceania is Estimated to Lead Two-Wheel Drive Tractors
    8.3 Four-Wheel Drive
           8.3.1 Four-Wheel Drive Tractors Mainly Find Application in Large Farm Sizes

9 Autonomous Tractor Market, By Power Output (Page No. - 74)
The Chapter is Further Segmented at Regional Level and Considered Regions are Asia Oceania, Europe, North America and RoW
    9.1 Introduction
           9.1.1 Research Methodology
           9.1.2 Assumptions
           9.1.3 Industry Insights
    9.2 <30 hp
           9.2.1 Cash Crops Such as Grapes, Strawberry Etc. are the Prime Application for <30 hp Autonomous Tractors
    9.3 31–100 hp
           9.3.1 North America Hold the Largest Market Share for 31-100 hp Autonomous Tractor
    9.4 >100 hp
           9.4.1 Agricultural Contractors Will Prefer to Use >100 hp Autonomous Tractors

10 By Equipment Type (Page No. - 82)
The Chapter is Further Segmented at Regional Level and Considered Regions are Asia Oceania, Europe, North America and RoW
     10.1 Introduction
             10.1.1 Research Methodology
             10.1.2 Assumptions
             10.1.3 Industry Insights
     10.2 Combines
             10.2.1 Combines for Cereal Crops
                        10.2.1.1 Asia Oceania is Estimated to Lead the Combines Market for Cereals Crop
             10.2.2 Combines for Non-Cereal Crops
                        10.2.2.1 Forage Harvester Holds the Maximum Share in Combines Market for Non-Cereals Crop
     10.3 Balers
             10.3.1 North America is Estimated to Lead the Balers Market
     10.4 Sprayers
             10.4.1 Self-Propelled Sprayers are Used to Meet the Large-Scale Productivity Demand for Crops

11 Implement Market, By Function (Page No. - 90)
The Chapter is Further Segmented at Regional Level and Considered Regions are Asia Oceania, Europe, North America and RoW
     11.1 Introduction
             11.1.1 Research Methodology
             11.1.2 Assumptions
             11.1.3 Industry Insights
     11.2 Plowing & Cultivating
             11.2.1 Asia Oceania is Estimated to Lead the Plowing & Cultivating Implements Market
     11.3 Sowing & Planting
             11.3.1 in Order to Improve the Crop Quality, the Sowing & Planting Market is Expected to Grow at the Higher Rate
     11.4 Plant Protection & Fertilizing
             11.4.1 Growing Crop Production With Minimal Damage and Enhanced Food Quality Will Propel the Market for Plant Protection and Fertilizing Implements
     11.5 Harvesting & Threshing
             11.5.1 The Demand for Tractor-Mounted Harvesting and Threshing Implements are Expected to Witness Potential Growth Especially in Developing Countries
     11.6 Others
             11.6.1 Asia Oceania is the Largest Market for Other Implements

12 Farm Equipment Rental Market, By Type (Page No. - 98)
The Chapter is Further Segmented at Regional Level and Considered Regions are Asia Oceania, Europe, and Americas
     12.1 Introduction
             12.1.1 Research Methodology
             12.1.2 Assumptions
             12.1.3 Industry Insights
     12.2 Tractors
             12.2.1 Tractors Leads the Market During the Forecast Period
     12.3 Combines
             12.3.1 Combines and Forage Harvester Have Significant Demand on Rental Basis in Europe
     12.4 Others
             12.4.1 Equipment Such as Round and Square Balers, Self-Propelled Sprayers, and Power Tillers are Preferred in Rental Market

13 Farm Tractor Market, By Region (Page No. - 104)
The Chapter is Further Segmented at Regional and Country Level By Power Output- <30 hp, 31-70 hp, 71-130 hp, 131-250 hp, and >250 hp
     13.1 Introduction
             13.1.1 Research Methodology
             13.1.2 Assumptions
             13.1.3 Industry Insights
     13.2 Asia Oceania
             13.2.1 Australia
                        13.2.1.1 131–250 hp is the Leading Power Output Segment in Australia
             13.2.2 China
                        13.2.2.1 <30 hp is the Prominent Power Output Segment in China
             13.2.3 India
                        13.2.3.1 India is the Second Largest Market for Power Output Segment in Asia Oceania
             13.2.4 Japan
                        13.2.4.1 <30 hp Hold Maximum Share in Japan Tractor Market
             13.2.5 South Korea
                        13.2.5.1 <30 hp Tractors is Estimated to Be Largest Market During the Forecast Period
             13.2.6 Asia Oceania Others
                        13.2.6.1 31-70 hp is Estimated to Be Largest Market During the Forecast Period, By Value
     13.3 Europe
             13.3.1 France
                        13.3.1.1 131-250 hp is Anticipated to Be Largest Market for France By 2025
             13.3.2 Germany
                        13.3.2.1 Germany is the Largest Market in Europe for Farm Tractors
             13.3.3 Italy
                        13.3.3.1 71-130 hp Leads the Power Output Segment in Italy, By Volume
             13.3.4 Poland
                        13.3.4.1 31-70 hp is the Largest Tractor Power Output Segment By 2025, in Terms of Volume
             13.3.5 Russia
                        13.3.5.1 131-250 hp Tractors Hold Maximum Share in Russia
             13.3.6 Spain
                        13.3.6.1 131-250 hp is the Largest Tractor Power Output Segment By 2025, in Terms of Volume
             13.3.7 Turkey
                        13.3.7.1 31-70 hp Tractors Hold Maximum Share in Turkey
             13.3.8 UK
                        13.3.8.1 131–250 hp is Estimated to Be Largest Market in UK as of 2018
             13.3.9 Europe Others
                        13.3.9.1 131–250 hp is Projected to Be the Fastest Growing Market
     13.4 North America
             13.4.1 Canada
                        13.4.1.1 Canada is Estimated to Be the Second Largest Market in North America
             13.4.2 Mexico
                        13.4.2.1 <30 hp Tractor to Be the Largest & Fastest Growing Power Output Segment in Mexico
             13.4.3 US
                        13.4.3.1 <30 hp Tractor to Be the Largest Power Output Segment in US
     13.5 RoW
             13.5.1 Argentina
                        13.5.1.1 Argentina is Estimated to Be the Second Largest Market in Rest of the World
             13.5.2 Brazil
                        13.5.2.1 Brazil is Projected to Be the Largest Market in Rest of the World During the Forecast Period
             13.5.3 RoW Others
                        13.5.3.1 <30 hp Tractor to Be the Largest Power Output Segment in RoW Others

14 Competitive Landscape (Page No. - 137)
     14.1 Overview
     14.2 Farm Equipment Market: Market Share Analysis
     14.3 Competitive Leadership Mapping
             14.3.1 Introduction
             14.3.2 Visionary Leaders
             14.3.3 Innovators
             14.3.4 Dynamic Differentiators
             14.3.5 Emerging Companies
     14.4 Competitive Leadership Mapping: Global Farm Equipment Manufacturers
             14.4.1 Competitive Benchmarking
                        14.4.1.1 Company-Wise Product Offering Analysis
                        14.4.1.2 Company-Wise Business Strategy Analysis
     14.5 Competitive Leadership Mapping: Regional Farm Equipment Manufacturers
             14.5.1 Competitive Benchmarking
                        14.5.1.1 Company-Wise Product Offering Analysis
                        14.5.1.2 Company-Wise Business Strategy Analysis
     14.6 Competitive Scenario
             14.6.1 Expansion
             14.6.2 New Product Development
             14.6.3 Supply Contract/Joint Ventures/Partnerships/Collaborations

15 Company Profiles (Page No. - 152)
(Business Overview, Products Offered, Recent Developments & SWOT Analysis)*
     15.1 John Deere
     15.2 CNH Industrial
     15.3 Mahindra & Mahindra
     15.4 Agco Corporation
     15.5 Kubota Corporation
     15.6 Claas KGaA
     15.7 Iseki & Co.
     15.8 JCB
     15.9 SDF Group
     15.1 Yanmar
     15.11 Additional Companies
             15.11.1 Asia Oceania
                        15.11.1.1 Escorts Ltd.
                        15.11.1.2 Tractors and Farm Equipment Limited
                        15.11.1.3 International Tractors Limited
                        15.11.1.4 Tong Yang Moolsan (TYM)
             15.11.2 Europe
                        15.11.2.1 Exel Industries
                        15.11.2.2 Bucher Industries
                        15.11.2.3 Zetor Tractors
             15.11.3 North America
                        15.11.3.1 Alamo Group
                        15.11.3.2 Buhler Industries
                        15.11.3.3 Autonomous Tractor Corporation

*Details on Business Overview, Products Offered, Recent Developments & SWOT Analysis Might Not Be Captured in Case of Unlisted Companies.

16 Appendix (Page No. - 185)
     16.1 Insights of Industry Experts
     16.2 Discussion Guide
     16.3 Knowledge Store: Marketsandmarkets’ Subscription Portal
     16.4 Available Customizations
             16.4.1 Combines Market, By Country
                        16.4.1.1 Asia Oceania
                                     16.4.1.1.1 Australia
                                     16.4.1.1.2 China
                                     16.4.1.1.3 Japan
                                     16.4.1.1.4 India
                                     16.4.1.1.5 Japan
                        16.4.1.2 Europe
                                     16.4.1.2.1 France
                                     16.4.1.2.2 Germany
                                     16.4.1.2.3 Russia
                                     16.4.1.2.4 Turkey
                                     16.4.1.2.5 UK
                        16.4.1.3 North America
                                     16.4.1.3.1 Canada
                                     16.4.1.3.2 Mexico
                                     16.4.1.3.3 US
                        16.4.1.4 RoW
                                     16.4.1.4.1 Argentina
                                     16.4.1.4.2 Brazil
             16.4.2 Farm Tractors Telematics Market, By Region
                        16.4.2.1 Asia Oceania
                        16.4.2.2 Europe
                        16.4.2.3 North America
                        16.4.2.4 RoW
             16.4.3 Detailed Analysis and Profiling of Additional Market Players (Upto 3)
     16.5 Related Reports
     16.6 Author Details


List of Tables (115 Tables)

Table 1 Currency Exchange Rates (W.R.T. Per USD)
Table 2 Support From Regional Governments
Table 3 Regional Player Overall Revenue Comparison, 2017 (USD Billion)
Table 4 Average Selling Price (ASP) of Agriculture Equipment, 2017 (USD)
Table 5 Benefits Offered By Autonomous Tractors
Table 6 Mechanization Rate, By Country, 2017 (%)
Table 7 Asia Oceania: Key Crop Production, 2016–2017 (Million Metric Ton)
Table 8 Asia Oceania: Key Crop Production, 2016–2017 (Million Metric Ton)
Table 9 Europe: Key Crop Production, 2016–2017 (Million Metric Ton)
Table 10 Europe: Key Crop Production, 2016–2017 (Million Metric Ton)
Table 11 Americas: Key Crop Production, 2016–2017 (Million Metric Ton)
Table 12 Americas: Key Crop Production, 2016–2017 (Million Metric Ton)
Table 13 Farm Tractor Market, By Power Output, 2016–2025 (‘000 Units)
Table 14 Farm Tractor Market, By Power Output, 2016–2025 (USD Million)
Table 15 <30 hp: Farm Tractor Market, By Region, 2016–2025 (‘000 Units)
Table 16 <30 hp: Farm Tractor Market, By Region, 2016–2025 (USD Million)
Table 17 31–70 hp: Farm Tractor Market, By Region, 2016–2025 (‘000 Units)
Table 18 31-70 hp: Farm Tractor Market, By Region, 2016–2025 (USD Million)
Table 19 71–130 hp: Farm Tractor Market, By Region 2016–2025 (‘000 Units)
Table 20 71-130 hp: Farm Tractor Market, By Region, 2016–2025 (USD Million)
Table 21 131–250 hp: Farm Tractor Market, By Region, 2016–2025 (‘000 Units)
Table 22 131–250 hp: Farm Tractor Market, By Region, 2016–2025 (USD Million)
Table 23 >250 hp: Farm Tractor Market, By Region, 2016–2025 (‘000 Units)
Table 24 >250 hp: Farm Tractor Market, By Region, 2016–2025 (USD Million)
Table 25 Farm Tractor Market, By Drive Type, 2016–2025 (‘000 Units)
Table 26 Farm Tractor Market, By Drive Type, 2016–2025 (USD Million)
Table 27 Two-Wheel Drive Tractor Market, By Region, 2016-2025 (‘000 Units)
Table 28 Two-Wheel Drive Tractor Market, By Region, 2016-2025 (USD Million)
Table 29 Four-Wheel Drive Tractor Market, By Region, 2016–2025 (‘000 Units)
Table 30 Four-Wheel Drive Tractor Market, By Region, 2016-2025 (USD Million)
Table 31 Autonomous Tractor Market, By Power Output, 2022–2030 (‘000 Units)
Table 32 Autonomous Tractor Market, By Power Output, 2022–2030 (USD Million)
Table 33 <30 hp: Autonomous Tractor Market, By Region, 2022–2030 (‘000 Units)
Table 34 <30 hp: Autonomous Tractor Market, By Region, 2022–2030 (USD Million)
Table 35 31-100 hp: Autonomous Tractor Market, By Region, 2022–2030 (‘000 Units)
Table 36 31-100 hp: Autonomous Tractor Market, By Region, 2022–2030 (USD Million)
Table 37 >100 hp: Autonomous Tractor Market, By Region, 2022–2030 (‘000 Units)
Table 38 >100 hp: Autonomous Tractor Market, By Region, 2022–2030 (USD Million)
Table 39 Farm Equipment Market, By Equipment Type, 2016–2025 (‘000 Units)
Table 40 Farm Equipment Market, By Equipment Type, 2016–2025 (USD Million)
Table 41 Combines Market for Cereal Crops: Market, By Region, 2016–2025 (‘000 Units)
Table 42 Combines for Cereal Crops: Market, By Region, 2016–2025 (USD Million)
Table 43 Combines Market for Non-Cereal Crops: Market, By Region, 2016–2025 (‘000 Units)
Table 44 Combines Market for Non-Cereal Crops: Market, 2016–2025 (USD Million)
Table 45 Balers: Market, By Region, 2016–2025 (‘000 Units)
Table 46 Balers: Market, By Region, 2016-2025 (USD Million)
Table 47 Sprayers: Market, By Region, 2016–2025 (‘000 Units)
Table 48 Sprayers: Market, By Region, 2016–2025 (USD Million)
Table 49 Implements Market, By Function, 2016–2025 (USD Million)
Table 50 Plowing & Cultivating: Implements Market, By Region, 2016–2025 (USD Million)
Table 51 Sowing & Planting: Implements Market, By Region, 2016–2025 (USD Million)
Table 52 Plant Protection & Fertilizing: Implements Market, By Region, 2016–2025 (USD Million)
Table 53 Harvesting and Threshing: Implements Market, By Region, 2016–2025 (USD Million)
Table 54 Others: Implements Market, By Region, 2016–2025 (USD Million)
Table 55 Rental Rate for Farm Equipment in Canada
Table 56 Farm Equipment Rental Market, By Equipment Type, 2016–2025 (USD Billion)
Table 57 Tractor: Market, By Region, 2016–2025 (USD Billion)
Table 58 Combines: Market, By Region, 2016–2025 (USD Billion)
Table 59 Others: Market, By Region, 2016–2025 (USD Billion)
Table 60 Farm Tractor Market, By Region, 2016–2025 (‘000 Units)
Table 61 Farm Tractor Market, By Region, 2016–2025 (USD Million)
Table 62 Asia Oceania: Farm Tractor Marker, By Country, 2016–2025 (‘000 Units)
Table 63 Asia Oceania: Farm Tractor Marker, By Country, 2016–2025 (USD Million)
Table 64 Australia: Farm Tractor Market, By Power Output, 2016–2025 (‘000 Units)
Table 65 Australia: Farm Tractor Market, By Power Output, 2016–2025 (USD Million)
Table 66 China: Farm Tractor Market, By Power Output, 2016–2025 (‘000 Units)
Table 67 China: Farm Tractor Market, By Power Output, 2016–2025 (USD Million)
Table 68 India: Farm Tractor Market, By Power Output, 2016–2025 (‘000 Units)
Table 69 India: Farm Tractor Market, By Power Output, 2016–2025 (USD Million)
Table 70 Japan: Farm Tractor Market, By Power Output, 2016–2025 (‘000 Units)
Table 71 Japan: Farm Tractor Market, By Power Output, 2016–2025 (USD Million)
Table 72 South Korea: Farm Tractor Market, By Power Output, 2016–2025 (‘000 Units)
Table 73 South Korea: Farm Tractor Market, By Power Output, 2016–2025 (USD Million)
Table 74 Asia Oceania Others: Farm Tractor Market, By Power Output, 2016–2025 (‘000 Units)
Table 75 Asia Oceania Others: Farm Tractor Market, By Power Output, 2016–2025 (USD Million)
Table 76 Europe: Farm Tractor Marker, By Country, 2016–2025 (‘000 Units)
Table 77 Europe: Farm Tractor Marker, By Country, 2016–2025 (USD Million)
Table 78 France: Farm Tractor Market, By Power Output, 2016–2025 (‘000 Units)
Table 79 France: Farm Tractor Market, By Power Output, 2016–2025 (USD Million)
Table 80 Germany: Farm Tractor Market, By Power Output, 2016–2025 (‘000 Units)
Table 81 Germany: Farm Tractor Market, By Power Output, 2016–2025 (USD Million)
Table 82 Italy: Farm Tractor Market, By Power Output, 2016–2025 (‘000 Units)
Table 83 Italy: Farm Tractor Market, By Power Output, 2016–2025 (USD Million)
Table 84 Poland: Farm Tractor Market, By Power Output, 2016–2025 (‘000 Units)
Table 85 Poland: Farm Tractor Market, By Power Output, 2016–2025 (USD Million)
Table 86 Russia: Farm Tractor Market, By Power Output, 2016–2025 (‘000 Units)
Table 87 Russia: Farm Tractor Market, By Power Output, 2016–2025 (USD Million)
Table 88 Spain: Farm Tractor Market, By Power Output, 2016–2025 (‘000 Units)
Table 89 Spain: Farm Tractor Market, By Power Output, 2016–2025 (USD Million)
Table 90 Turkey: Farm Tractor Market, By Power Output, 2016–2025 (‘000 Units)
Table 91 Turkey: Farm Tractor Market, By Power Output, 2016–2025 (USD Million)
Table 92 UK: Farm Tractor Market, By Power Output, 2016–2025 (‘000 Units)
Table 93 UK: Farm Tractor Market, By Power Output, 2016–2025 (USD Million)
Table 94 Europe Others: Farm Tractor Market, By Power Output, 2016–2025 (‘000 Units)
Table 95 Europe Others: Farm Tractor Market, By Power Output, 2016–2025 (USD Million)
Table 96 North America: Farm Tractor Marker, By Country, 2016–2025 (‘000 Units)
Table 97 North America: Farm Tractor Marker, By Country, 2016–2025 (USD Million)
Table 98 Canada: Farm Tractor Market, By Power Output, 2016–2025 (‘000 Units)
Table 99 Canada: Farm Tractor Market, By Power Output, 2016–2025 (USD Million)
Table 100 Mexico: Farm Tractor Market, By Power Output, 2016–2025 (‘000 Units)
Table 101 Mexico: Farm Tractor Market, By Power Output, 2016–2025 (USD Million)
Table 102 US: Farm Tractor Market, By Power Output, 2016–2025 (‘000 Units)
Table 103 US: Farm Tractor Market, By Power Output, 2016–2025 (USD Million)
Table 104 RoW: Farm Tractor Marker, By Country, 2016–2025 (‘000 Units)
Table 105 RoW: Farm Tractor Marker, By Country, 2016–2025 (USD Million)
Table 106 Argentina: Farm Tractor Market, By Power Output, 2016–2025 (‘000 Units)
Table 107 Argentina: Farm Tractor Market, By Power Output, 2016–2025 (USD Million)
Table 108 Brazil: Farm Tractor Market, By Power Output, 2016–2025 (‘000 Units)
Table 109 Brazil: Farm Tractor Market, By Power Output, 2016–2025 (USD Million)
Table 110 RoW Others: Farm Tractor Market, By Power Output, 2016–2025 (‘000 Units)
Table 111 RoW Others: Farm Tractor Market, By Power Output, 2016–2025 (USD Million)
Table 112 Mergers & Acquisitions, 2017–2018
Table 113 Expansion, 2017–2018
Table 114 New Product Development, 2017–2018
Table 115 Supply Contract/Joint Ventures/Partnerships/Collaborations, 2017–2018


List of Figures (44 Figures)

Figure 1 Farm Equipment Market Segmentation: Market
Figure 2 Market: Research Design
Figure 3 Research Design Model
Figure 4 Breakdown of Primary Interviews
Figure 5 Bottom-Up Approach: Tractor Market
Figure 6 Top-Down Approach: Implement Market
Figure 7 Data Triangulation
Figure 8 Farm Equipment Market: Global Outlook
Figure 9 Market, By Equipment Type, 2018–2025 (USD Billion)
Figure 10 Attractive Market Opportunities in the Market
Figure 11 Asia Oceania Leads the Market for Farm Equipment, 2018 vs 2025 (USD Billion)
Figure 12 Tractor is Expected to Hold the Largest Share in the Market, 2018 vs 2025 (USD Billion)
Figure 13 Asia Oceania is Estimated to Hold the Largest Market for Farm Equipment, 2018–2025 (USD Billion)
Figure 14 Growing Demand for High hp Tractors in European Countries Would Fuel the Demand for Four-Wheel Drive Tractors, 2018–2025 (USD Billion)
Figure 15 Combines for Cereal Crops Account for Major Share, 2018–2025 (USD Billion)
Figure 16 Plowing & Cultivating Implements Held the Largest Share of the Implements Market, 2018–2025 (USD Billion)
Figure 17 Lack of Skilled Labor & Growing Labor Costs to Drive the Demand for Autonomous Tractors, 2018–2025 (USD Billion)
Figure 18 Tractors are Estimated to Lead the Farm Equipment Rental Market, 2018–2025 (USD Billion)
Figure 19 Farm Equipment Market: Market Dynamics
Figure 20 Significant Growth in Population, 2005 vs 2015 vs 2025 (Million)
Figure 21 Global Employment in Agriculture, 2010–2017 (% of Total Employment)
Figure 22 Global Imports/Exports of Cereals, 2010–2018 (Million Tons)
Figure 23 Porter’s Five Forces Analysis: Market
Figure 24 Farm Tractor Market, By Power Output, 2016–2025 (USD Million)
Figure 25 Farm Tractor Market, By Drive Type, 2018-2025 (USD Million)
Figure 26 Autonomous Tractor Market, By Power Output, 2022–2030 (USD Million)
Figure 27 Farm Equipment Market, By Equipment Type, 2018–2025 (USD Million)
Figure 28 Implements Market, By Function, 2018–2025 (USD Million)
Figure 29 Farm Equipment Rental Market, By Equipment Type, 2018–2025 (USD Billion)
Figure 30 Farm Tractor Market, By Region, 2018–2025 (USD Million)
Figure 31 Asia Oceania: Farm Tractor Market Snapshot
Figure 32 Europe: Farm Tractor Market Snapshot
Figure 33 Companies Adopted Expansion as the Key Growth Strategy, 2015–2017
Figure 34 Farm Equipment Market: Market Share Analysis, 2017
Figure 35 John Deere: Company Snapshot
Figure 36 CNH Industrial: Company Snapshot
Figure 37 Mahindra & Mahindra: Company Snapshot
Figure 38 Agco Corporation: Company Snapshot
Figure 39 Kubota Corporation: Company Snapshot
Figure 40 Claas KGaA: Company Snapshot
Figure 41 Iseki & Co.: Company Snapshot
Figure 42 JCB: Company Snapshot
Figure 43 SDF Group: Company Snapshot
Figure 44 Yanmar: Company Snapshot

The study involves four main activities to estimate the current size of the farm equipment market. Exhaustive secondary research was done to collect information about different farm equipment such as tractors, combines, and implements. The next step was to validate these findings, assumptions, and farm equipment market analysis with industry experts across value chains through primary research. Both, bottom-up and top-down approaches were employed to estimate the overall farm equipment market size for different segments considered under this study.

Secondary Research

The secondary sources referred for this research study include automotive industry organizations such as Mechanical Engineering Industry Association (VDMA), Agriculture Equipment Manufacturers Union (AXEMA), Italian Agricultural Machinery Manufacturers Federation (FEDERUNACOMA); corporate filings (such as annual reports, investor presentations, and financial statements); and trade, business, and regional farm equipment related associations. Secondary data has been collected and analyzed to arrive at the overall farm equipment market size, which is further validated by multiple industry experts.

Primary Research

Extensive primary research has been conducted after acquiring an understanding of the farm equipment market scenario through secondary research. Several primary interviews have been conducted with farm equipment market experts from both the demand- (OEMs) and supply-side (farm equipment manufacturers) across four major regions, namely, Asia Oceania, Europe, North America, and the Rest of the World. Primary data has been collected through questionnaires, emails, and telephonic interviews. In the canvassing of primaries, we have strived to cover various departments within organizations, such as sales, operations, and administration, to provide a holistic viewpoint in our report.

After interacting with industry experts, we have also conducted brief sessions with highly experienced independent consultants to reinforce the findings from our primaries. This, along with the in-house subject matter experts’ opinions, has led us to the findings as described in the remainder of this report.

Farm Equipment Market

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

Market Size Estimation

The bottom-up approach has been used to estimate and validate the size of the tractors market, by power output. To determine the market size, by power output, for farm tractors, in terms of volume, country-level tractor sales have been multiplied by country-level penetration of each power output category (<30 hp, 31–70 hp, 71–130 hp, 131–250 hp, and >250 hp). The country-level farm tractor market size, in terms of volume, of each power output category is added to derive the regional-level and further to get the global farm tractors market, by power output. The country-level farm tractor market is then multiplied by the country-level average selling price of tractors in each power output category to derive the country-level farm equipment market size, in terms of value. The further addition gives the regional level market and the summation of regional level markets gives the global farm tractors market, by power output, in terms of value. A similar approach has been followed to derive the agricultural tractors market, by drivetrain (2-wheel drive and 4-wheel drive), combines farm equipment market by crop type (corn, rice, wheat, soybean, and others), market by other equipment type (balers, sprayers, and forage harvesters), and rental market, by equipment type (self-propelled, and implements).

The top-down approach has been used to estimate and validate the size of the implements farm equipment market, by function. The global market size, in terms of value, of implements, by function, has been derived by identifying the value of implements used in different agricultural activities at a global level. Further, the regional-level penetration for each implement has been derived from various secondary sources and validated through primary and secondary sources to derive the regional-level implements farm equipment market, by function (plowing & cultivating, sowing & planting, plant protection & fertilizing, harvesting & threshing, and haying). A similar approach has been followed to derive the autonomous tractors market, by power output (<30 hp, 31–100 hp, and >100 hp), in terms of volume and value.

Data Triangulation

All percentage shares, splits, and breakdowns have been determined using secondary sources and verified by primary sources. All parameters that are said to affect the farm equipment markets covered in this research study have been accounted for, viewed in extensive detail, and analyzed to obtain the final quantitative and qualitative data. This data has been consolidated, enhanced with detailed inputs and analysis from MarketsandMarkets, and presented in the report. The data was triangulated by studying various factors and trends in the demand and supply sides in the farm equipment market.

Report Objectives

  • To define, describe, and forecast the global 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, on the basis of power output (<30 hp, 31–70 hp, 71–130 hp, 131–250 hp, and >250 hp) at country and regional level
  • To define, describe, and forecast the farm tractors market, by value and volume, on the basis of drive type (two-wheel and four-wheel) at regional level
  • To define, describe, and forecast the autonomous tractors market, by value and volume, on the basis of power output (<30 hp, 31–100 hp, and >100 hp) at regional level
  • To define, describe, and forecast the farm equipment market, by value and volume, on the basis of equipment type (combines, balers, and sprayers) at regional level
  • To define, describe, and forecast the implements market, by value, on the basis of function (plowing & cultivating, sowing & planting, plant protection & fertilizing, harvesting & threshing, and others) at regional level
  • To define, describe, and forecast the farm equipment rental market, by value, on the basis of equipment type (tractors, combines, and others) at regional level
  • To define, describe, and forecast the farm equipment market, by value and volume, on the basis of region (Asia Oceania, Europe, North America, and RoW)
  • To understand the market dynamics (drivers, restraints, opportunities, and challenges) of the farm equipment market
  • To analyze the market share of the key players operating 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

Key Questions addressed by the report

  • Which power output range of tractors is expected to dominate in the future?
  • Based on our findings, two-wheel drive tractors hold the maximum share in the global market. Please provide your insights and future market trends.
  • How are the global industry players addressing the competition from the regional and local players for different farm equipment?
  • When is the autonomous tractor expected to launch?
  • What is the average selling price of farm tractors for different power output range, and what are the pricing trends of this equipment?

Available Customizations

With the given market data, MarketsandMarkets offers customizations according to the company’s specific needs.

The following customization options are available for the report:

By Region

  • Asia Oceania
    • Australia
    • China
    • India
    • Japan
    • South Korea
  • Europe
    • France
    • Germany
    • Russia
    • Turkey
    • UK
  • North America
    • Canada
    • Mexico
    • US
  • RoW
    • Argentina
    • Brazil

Farm Tractor Telematics Market, By Region

  • Asia Oceania
  • Europe
  • North America
  • RoW

Detailed analysis and profiling of additional market players (Up To three)

Report Code
AT 2835
Published ON
Oct, 2019
Choose License Type
BUY NOW
  • SHARE
X
Request Customization
Speak to Analyst
Speak to Analyst
OR FACE-TO-FACE MEETING
PERSONALIZE THIS RESEARCH
  • Triangulate with your Own Data
  • Get Data as per your Format and Definition
  • Gain a Deeper Dive on a Specific Application, Geography, Customer or Competitor
  • Any level of Personalization
REQUEST A FREE CUSTOMIZATION
LET US HELP YOU!
  • What are the Known and Unknown Adjacencies Impacting the Farm Equipment Market
  • What will your New Revenue Sources be?
  • Who will be your Top Customer; what will make them switch?
  • Defend your Market Share or Win Competitors
  • Get a Scorecard for Target Partners
REQUEST A FREE WORKSHOP
ADJACENT MARKETS
REQUEST BUNDLE REPORTS
ONLINE CHAT
+1-888-600-6441
  • Call Us
  • +1-888-600-6441 (Corporate office hours)
  • +1-888-600-6441 (US/Can toll free)
  • +44-800-368-9399 (UK office hours)
CONNECT WITH US
ABOUT TRUST ONLINE
© MarketsandMarkets Research Private Ltd. All rights reserved
...

Digital Virtual Assistant - MarketsandMarkets

...

Digital Virtual Assistant - MarketsandMarkets

Home