Farm Equipment Market

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

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

[343 Pages Report] The global farm equipment market is projected to grow from USD 99.4 billion in 2021 to USD 126.0 billion by 2027, at a CAGR of 4.0% during the forecast period. The demand for farm mechanization is also observed to have increased in the recent past, which is expected to further pick momentum as the population is rising up. Asia Oceania remains the key market for Farm Equipment, though the demand is also increasing in Europe, and North America.

Farm Equipment Market

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Market Dynamics

DRIVER: Government support with farm loan waivers/ credit finance

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

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

RESTRAINT: Growth of rental market

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

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

Continuous R&D efforts have resulted in the development of advanced products capable of handling multiple tasks. Advanced machinery includes complex mechatronic systems that require specialized manufacturing and assembly processes. All the steps involved in designing, producing, and distributing the equipment require huge investments, which is reflected in the cost of the machinery made available to farmers. The inability of small farmers to invest a high amount contributes to the low penetration rate of farm equipment in developing countries. Farmers in emerging economies such as Asia-Oceania are reluctant to invest in expensive machinery. However, the adoption of farm equipment in North America and Europe is high due to the unavailability of labor and the high cost of farm labor. Manufacturers of agriculture equipment need to upgrade their products regularly, owing to the constantly changing emission norms, which increases the equipment cost. Thus, the high cost of agricultural machinery such as high horsepower (HP) tractors, combines, balers, and sprayers limit their sales and thereby slow down the growth of the farm equipment market, especially in emerging countries.

OPPORTUNITY: Precision agriculture

The agriculture industry is under constant pressure to produce agricultural products to cater to the growing population, forcing farmers to focus on efficiency and productivity to drive business growth. Precision farming is becoming common among farmers who want to produce more with limited resources. This farming technique could effectively tackle the issue of high demand for food across geographies. This technique also allows farmers to improve their operational efficiency and increase production, thereby minimizing the gap between the supply and consumption of agricultural products. Precision farming technology facilitates the efficient use of water, seeds, land, fertilizers, and agricultural equipment, which, in turn, improves the overall quantity and quality of yields.

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

CHALLENGE: Rapidly changing emission norms and mandates

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

The Indian government implemented the BS Term IV regulation, which applies to diesel engine equipment, including agricultural tractors and construction equipment, which came into force in October 2020. Tractors with <50 HP must comply with the new norms from October 2023. Thus, changing emission regulations to comply with government regulations may challenge the sale of tractors.

Farm Equipment Market Ecosystem

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

Role of Companies in Farm Equipment Market Ecosystem

COMPANY

ROLE IN ECOSYSTEM

Cummins

Component Manufacturer

Deutz

Component Manufacturer

FPR Industrial

Component Manufacturer

Carraro

Component Manufacturer

YTO France

Component Manufacturer

ZF TRW

Component Manufacturer

Daedong

Component Manufacturer

Yanmar

Component Manufacturer

John Deere

Farm Equipment Manufacturer

Mahindra & Mahindra

Farm Equipment Manufacturer

AGCO Corporation

Farm Equipment Manufacturer

CLAAS

Farm Equipment Manufacturer

Kubota

Farm Equipment Manufacturer

TAFE

Farm Equipment Manufacturer

SDF Group

Farm Equipment Manufacturer

Yanmar

Farm Equipment Manufacturer

Zetor Tractors

Farm Equipment Manufacturer

JCB

Farm Equipment Manufacturer

SEMA Equipment Inc

Dealer

Farol

Dealer

Baldwin Tractor & Equipment

Dealer

RDO Equipment Co.

Dealer

Brandt Holdings

Dealer

Sterling

Dealer

Farm Equipment Headquarters, Inc.

Dealer

Reynolds

Dealer

Titan Machinery

Dealer

Forrester Farm Equipment

Dealer

Everglades Equipment Group

Dealer

Source: Secondary Research and MarketsandMarkets Analysis

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

The 31–70 HP segment is expected to command the largest share of the farm equipment market. The increasing farm mechanization largely driven by government policies such as loan waivers/schemes/policies is expected to drive the 31-70 HP market in emerging countries. The 31-70 HP tractors segment is estimated to contribute ~46% of total tractor sales in 2021. The increasing farm mechanization in emerging countries driven by government efforts is expected to drive the market. The rising demand for high-powered tractors and the growing network of dealers with proper marketing are other factors expected to boost the market globally.

Four wheel drive segment to grow at the fastest CAGR from 2021 to 2027

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

Farm Equipment Market by Region

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Asia Oceania is estimated to be the largest farm equipment market in 2021

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

In addition to high containerized transportation, factors such as increasing Gross Domestic Product (GDP), infrastructure investments, rising per capita income, growing inclination toward mechanization, and government initiatives for FDI have created more opportunities for the farming business, in turn driving the farm tractor market in the Asia Oceania region. Asia Oceania is expected to lead the farm tractor market during the forecast period. Countries considered under Asia Oceania are India, Japan, China, South Korea, Australia, and the Rest of Asia Oceania. The increasing farm mechanization driven by government efforts and subsidies/loan waivers is expected to drive farm tractor sales in India. However, China has witnessed a decline in tractor sales in 2020 and 2019, owing to delays in farm equipment subsidies in the Chinese provinces and the upgradation of emission regulations. The Rest of Asia Oceania covers countries like Vietnam, Australia, Malaysia, Singapore, Indonesia, and the Philippines.

Key Market Players

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

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Scope of the Report

Report Attributes

Details

Market size value in 2021:

 USD 99.4 Billion

Projected to reach 2027:

 USD 126.0 Billion

CAGR:

 4.0%

Base Year Considered:

 2020

Forecast Period:

 2018-2027

Largest Market:

 Asia Oceania

Region Covered:

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

Segments Covered:

Farm tractor market by Power Output, Farm tractor market by Drive Type, Farm equipment market, by equipment type, Implements market, by function, Farm equipment Rental market, Farm equipment market by region, Farm equipment Rental market by region.

Companies Covered:

John Deere (US), CNH Industrial (Netherlands), CLAAS (Germany), and AGCO Corporation (US), Mahindra and Mahindra(India), Yanmar(Japan)

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

The study segments the farm equipment  market :

By Power Output

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

Farm tractor market, by drive type

  • Two-wheel
  • Four-wheel

Farm implements market, by function

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

Farm equipment rental market, by equipment type

  •  Tractors
  • Combines
  • Sprayers
  • Balers
  • Others

Farm tractor rental market, by power output

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

Farm tractor market, by drive type

  • Two-wheel
  • Four-wheel

Autonomous tractor market, by power output

  • <30 HP
  • 31-100 HP
  • >100 HP

Electric tractor market, by propulsion

  • Battery Electric
  • Hybrid Electric

By Region

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

Recent Developments

  • In November 2021, John Deere developed new material collection systems and mechanical grappleS for compact utility tractors. The New Frontier MG20F Mechanical Grapple offers a quick-attach solution for fast installation and features a 1,200-pound (544 kg) lift capacity.
  • In December 2021, New Holland Agriculture designed a Straddle Tractor to meet the demanding requirements of the narrow vineyards typical of the premium wine growing regions such as Champagne, Mιdoc, and Burgundy.
  • In August 20201, AGCO Corporation brand Massey Ferguson launched VE Series planters. The series consists of rigid and folding-frame planters to narrow transport and track planters that offer growers straightforward, dependable, durable planters to deliver consistent, accurate seed placement for optimum yields.
  • In November 2021, CLAAS developed new flagship TORION 1913 and TORION 2014 models. They feature more engine power, higher lift capacity, and an even greater loading height.

Frequently Asked Questions (FAQ):

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TABLE OF CONTENTS

1 INTRODUCTION (Page No. - 38)
    1.1 OBJECTIVES
    1.2 FARM EQUIPMENT MARKET DEFINITION
           1.2.1 INCLUSIONS & EXCLUSIONS
    1.3 MARKET SCOPE
           1.3.1 YEARS CONSIDERED FOR THE STUDY
    1.4 CURRENCY CONSIDERED
    1.5 SUMMARY OF CHANGES
    1.6 STAKEHOLDERS

2 RESEARCH METHODOLOGY (Page No. - 43)
    2.1 RESEARCH DATA
          FIGURE 1 RESEARCH DESIGN
          FIGURE 2 RESEARCH METHODOLOGY MODEL
           2.1.1 SECONDARY DATA
           2.1.2 LIST OF KEY SECONDARY SOURCES TO ESTIMATE FARM EQUIPMENT MARKET
           2.1.3 KEY DATA FROM SECONDARY SOURCES
           2.1.4 PRIMARY DATA
          FIGURE 3 BREAKDOWN OF PRIMARY INTERVIEWS: BY COMPANY TYPE, DESIGNATION, AND REGION
           2.1.5 LIST OF PRIMARY PARTICIPANTS
    2.2 MARKET ESTIMATION METHODOLOGY
          FIGURE 4 RESEARCH METHODOLOGY: HYPOTHESIS BUILDING
           2.2.1 BOTTOM-UP APPROACH
                    FIGURE 5 FARM TRACTOR MARKET SIZE: BOTTOM-UP APPROACH (POWER OUTPUT AND REGION)
           2.2.2 TOP-DOWN APPROACH
                    FIGURE 6 FARM EQUIPMENT MARKET SIZE: TOP-DOWN APPROACH (FARM TRACTOR, BY DRIVE TYPE)
                    FIGURE 7 FARM EQUIPMENT MARKET: RESEARCH DESIGN & METHODOLOGY
                    FIGURE 8 FARM EQUIPMENT MARKET: RESEARCH METHODOLOGY ILLUSTRATION OF JOHN DEERE REVENUE ESTIMATION
           2.2.3 FACTOR ANALYSIS FOR MARKET SIZING: DEMAND- AND SUPPLY-SIDE
    2.3 DATA TRIANGULATION
          FIGURE 9 DATA TRIANGULATION METHODOLOGY
    2.4 FACTOR ANALYSIS
    2.5 RESEARCH ASSUMPTIONS
           2.5.1 ASSUMPTIONS
                    TABLE 1 ASSUMPTIONS
    2.6 RESEARCH LIMITATIONS

3 EXECUTIVE SUMMARY (Page No. - 58)
    3.1 PRE- VS POST-COVID-19 SCENARIO
          FIGURE 10 PRE- & POST-COVID-19 SCENARIO: FARM EQUIPMENT MARKET SIZE, 2018–2027 (USD MILLION)
          TABLE 2 MARKET SIZE: PRE- VS. POST-COVID-19 SCENARIO, 2018–2027 (USD MILLION)
    3.2 REPORT SUMMARY
          FIGURE 11 MARKET, BY EQUIPMENT TYPE, 2021 VS. 2027 (USD MILLION)

4 PREMIUM INSIGHTS (Page No. - 62)
    4.1 ATTRACTIVE OPPORTUNITIES IN FARM EQUIPMENT MARKET
          FIGURE 12 GROWING MECHANIZATION IN FARMING AND CONTRACT FARMING TO DRIVE MARKET
    4.2 MARKET, BY EQUIPMENT TYPE
          FIGURE 13 CEREAL COMBINES MARKET EXPECTED TO GROW AT HIGHEST CAGR FROM 2021 TO 2027
    4.3 FARM TRACTOR MARKET, BY DRIVE TYPE
          FIGURE 14 FOUR WHEEL DRIVE MARKET EXPECTED TO GROW AT HIGHEST CAGR FROM 2021 TO 2027
    4.4 FARM TRACTOR MARKET, BY POWER OUTPUT
          FIGURE 15 31-70 HP TRACTORS PROJECTED TO LEAD MARKET
    4.5 FARM IMPLEMENTS MARKET, BY FUNCTION
          FIGURE 16 PLOWING & CULTIVATING PROJECTED TO LEAD MARKET
    4.6 AUTONOMOUS TRACTOR MARKET, BY POWER OUTPUT
          FIGURE 17 <30 HP TRACTORS EXPECTED TO DOMINATE AUTONOMOUS SEGMENT OWING TO MAJOR APPLICATIONS IN VINEYARDS
    4.7 ELECTRIC TRACTOR MARKET, BY PROPULSION
          FIGURE 18 BATTERY ELECTRIC TRACTORS EXPECTED TO DRIVE MARKET OWING TO BETTER ROI
    4.8 FARM EQUIPMENT RENTAL MARKET, BY EQUIPMENT TYPE
          FIGURE 19 TRACTORS SEGMENT TO COMMAND HIGHEST SHARE IN FARM EQUIPMENT RENTAL MARKET IN 2021
    4.9 FARM TRACTOR RENTAL MARKET, BY DRIVE TYPE
          FIGURE 20 TWO-WHEEL DRIVE SEGMENT TO COMMAND HIGHEST SHARE IN FARM TRACTOR RENTAL MARKET IN 2021
    4.1 FARM TRACTOR RENTAL MARKET, BY POWER OUTPUT
          FIGURE 21 31-70 HP TO DOMINATE FARM TRACTOR RENTAL MARKET FROM 2021–2027 67
    4.11 FARM EQUIPMENT MARKET, BY REGION
          FIGURE 22 ASIA OCEANIA ACCOUNTED FOR LARGEST SHARE OF MARKET IN 2021

5 MARKET OVERVIEW (Page No. - 68)
    5.1 INTRODUCTION
    5.2 FARM EQUIPMENT MARKET DYNAMICS
          FIGURE 23 MARKET: MARKET DYNAMICS
           5.2.1 DRIVERS
                    5.2.1.1 Government support with farm loan waivers/credit finance
                                TABLE 3 SCHEMES LAUNCHED BY GOVERNMENT OF INDIA
                    5.2.1.2 OEM/sales incentives to support dealer service and rental operations
                    5.2.1.3 Contract farming
                                TABLE 4 CHARACTERISTICS OF TRANSACTIONAL AND CONTRACT FARMING
                                FIGURE 24 US FARMS WITH CONTRACTS, 2020
                                FIGURE 25 US VALUE OF PRODUCTION UNDER CONTRACT, 2020
                                TABLE 5 SAMPLE SIZE AND PREVALENCE OF CONTRACT FARMING, 2019
                    5.2.1.4 Increase in farm mechanization
                                FIGURE 26 MECHANIZATION RATE AND CONTRIBUTION OF AGRICULTURE INDUSTRY TO GDP IN MAJOR GEOGRAPHIES, 2020
                                TABLE 6 MECHANIZATION RATE IN INDIA FOR SEVERAL AGRICULTURAL ACTIVITIES, 2020
                                TABLE 7 PATTERN OF ASSISTANCE IN VARIOUS SCHEMES OF GOVERNMENT OF INDIA
                                TABLE 8 SUPPORT FROM REGIONAL GOVERNMENTS
           5.2.2 RESTRAINTS
                    5.2.2.1 Growth of rental market
                                TABLE 9 JOHN DEERE: HARVESTERS RENTAL RATES IN US, 2020 (USD)
                                TABLE 10 JOHN DEERE: RENTAL RATES IN US, 2020 (USD)
                    5.2.2.2 High equipment cost in emerging economies
                                TABLE 11 PRICES OF TRACTORS IN US, 2020 (USD)
                                TABLE 12 PRICES OF VARIOUS FARM EQUIPMENT IN US, 2020 (USD)
           5.2.3 OPPORTUNITIES
                    5.2.3.1 Precision agriculture
                    5.2.3.2 Increasing R&D and adoption of electric tractors
           5.2.4 CHALLENGES
                    5.2.4.1 Rapidly changing emission norms and mandates
    5.3 PORTER’S FIVE FORCES ANALYSIS
          TABLE 13 PORTER’S FIVE FORCES ANALYSIS
          FIGURE 27 PORTER’S FIVE FORCES ANALYSIS
           5.3.1 THREAT OF NEW ENTRANTS
           5.3.2 THREAT OF SUBSTITUTES
           5.3.3 BARGAINING POWER OF SUPPLIERS
           5.3.4 BARGAINING POWER OF BUYERS
           5.3.5 INTENSITY OF COMPETITIVE RIVALRY
    5.4 TRADE ANALYSIS
          TABLE 14 IMPORT TRADE DATA, BY KEY COUNTRIES, 2020 (USD)
          TABLE 15 EXPORT TRADE DATA, BY KEY COUNTRIES, 2020 (USD)
    5.5 TRENDS/DISRUPTIONS IMPACTING CUSTOMER BUSINESS
          FIGURE 28 REVENUE SHIFT FOR FARM EQUIPMENT MARKET
    5.6 CASE STUDIES
           5.6.1 CASE STUDY: TRUCKER AND CATTLE FARMER BENEFITS FROM TELESKID EFFICIENCY
           5.6.2 CASE STUDY: KUBOTA UNVEILED PROTOTYPE OF COMPLETE ELECTRIC AUTONOMOUS TRACTOR
           5.6.3 CASE STUDY: JOHN DEERE PREVIEWED X9 COMBINE HARVESTER
           5.6.4 CASE STUDY: STEYR UNVEILED HYBRID CONCEPT TRACTOR
           5.6.5 CASE STUDY: AGRIROBO UNMANNED AUTONOMOUS AGRICULTURAL MACHINERY
    5.7 PATENT ANALYSIS
    5.8 SUPPLY CHAIN ANALYSIS
          FIGURE 29 SUPPLY CHAIN ANALYSIS: MARKET
    5.9 FARM EQUIPMENT MARKET ECOSYSTEM
          TABLE 16 ROLE OF COMPANIES IN MARKET ECOSYSTEM
           5.9.1 REGULATORY ANALYSIS: EMISSION REGULATIONS
                    5.9.1.1 Farm Equipment
                                FIGURE 30 NON-ROAD MOBILE MACHINERY EMISSION REGULATION OUTLOOK, 2019–2025
           5.9.2 AVERAGE SELLING PRICE (ASP) ANALYSIS, BY POWER OUTPUT AND REGION
                    TABLE 17 ASP: <30 HP TRACTORS: PRICE RANGE ANALYSIS, BY REGION, 2021 (USD)
                    TABLE 18 ASP: 31-70 HP TRACTORS: PRICE RANGE ANALYSIS, BY REGION, 2021 (USD)
                    TABLE 19 ASP: 71-130 HP TRACTORS: PRICE RANGE ANALYSIS, BY REGION, 2021 (USD)
                    TABLE 20 ASP: 131-250 HP TRACTORS: PRICE RANGE ANALYSIS, BY REGION, 2021 (USD)
                    TABLE 21 ASP: >250 HP TRACTORS: PRICE RANGE ANALYSIS, BY REGION, 2021 (USD)
           5.9.3 FARM EQUIPMENT: TECHNOLOGY TREND
                    5.9.3.1 Farm Equipment Automation
                    5.9.3.2 Agriculture 5.0
                                TABLE 22 CROP DATA MANAGEMENT SOFTWARE APPLICATIONS
           5.9.4 FARM EQUIPMENT MARKET SCENARIO
                                FIGURE 31 MARKET SCENARIO, 2018–2027 (USD BILLION)
                    5.9.4.1 Realistic scenario
                                TABLE 23 MARKET (REALISTIC SCENARIO), BY REGION,  2018–2027 (USD MILLION)
                    5.9.4.2 Low impact scenario
                                TABLE 24 FARM EQUIPMENT MARKET (LOW IMPACT SCENARIO), BY REGION, 2018–2027 (USD MILLION)
                    5.9.4.3 High impact scenario
                                TABLE 25 FARM EQUIPMENT MARKET (HIGH IMPACT SCENARIO), BY REGION, 2018–2027 (USD MILLION)

6 RECOMMENDATIONS BY MARKETSANDMARKETS (Page No. - 98)
    6.1 ASIA OCEANIA EXPECTED TO DOMINATE FARM EQUIPMENT MARKET
    6.2 KEY FOCUS AREAS OF ELECTRIC FARM TRACTORS
    6.3 FOUR-WHEEL DRIVE TRACTORS FOR FUTURE APPLICATIONS - KEY FOCUS AREA
    6.4 GROWTH OF AUTONOMOUS TRACTORS IN COMING YEARS
    6.5 CONCLUSION

7 FARM TRACTOR MARKET, BY POWER OUTPUT (Page No. - 101)
    7.1 INTRODUCTION
           7.1.1 RESEARCH METHODOLOGY
           7.1.2 ASSUMPTIONS
           7.1.3 INDUSTRY INSIGHTS
                    FIGURE 32 MARKET, BY POWER OUTPUT, 2021 VS. 2027 (USD MILLION)
                    TABLE 26 MARKET, BY POWER OUTPUT, 2016–2020 (‘000 UNITS)
                    TABLE 27 MARKET, BY POWER OUTPUT, 2021–2027 (‘000 UNITS)
                    TABLE 28 MARKET, BY POWER OUTPUT, 2016–2020 (USD MILLION)
                    TABLE 29 MARKET, BY POWER OUTPUT, 2021–2027 (USD MILLION)
    7.2 <30 HP
          TABLE 30 <30 HP: FARM TRACTOR MARKET, BY REGION, 2016–2020 (‘000 UNITS)
          TABLE 31 <30 HP: MARKET, BY REGION, 2021–2027 (‘000 UNITS)
          TABLE 32 <30 HP: MARKET, BY REGION, 2016–2020 (USD MILLION)
          TABLE 33 <30 HP: MARKET, BY REGION, 2021–2027 (USD MILLION)
    7.3 31–70 HP
          TABLE 34 31–70 HP: FARM TRACTOR MARKET, BY REGION, 2016–2020 (‘000 UNITS)
          TABLE 35 31–70 HP: MARKET, BY REGION, 2021–2027 (‘000 UNITS)
          TABLE 36 31–70 HP: MARKET, BY REGION, 2016–2020 (USD MILLION)
          TABLE 37 31–70 HP: MARKET, BY REGION, 2021–2027 (USD MILLION)
    7.4 71–130 HP
          TABLE 38 71–130 HP: FARM TRACTOR MARKET, BY REGION, 2016–2020 (‘000 UNITS)
          TABLE 39 71–130 HP: MARKET, BY REGION, 2021–2027 (‘000 UNITS)
          TABLE 40 71–130 HP: MARKET, BY REGION, 2016–2020 (USD MILLION)
          TABLE 41 71–130 HP: MARKET, BY REGION, 2021–2027 (USD MILLION)
    7.5 131–250 HP
          TABLE 42 131–250 HP: FARM TRACTOR MARKET, BY REGION, 2016–2020 (‘000 UNITS)
          TABLE 43 131–250 HP: MARKET, BY REGION, 2021–2027 (‘000 UNITS)
          TABLE 44 131–250 HP: MARKET, BY REGION, 2016–2020 (USD MILLION)
          TABLE 45 131–250 HP: MARKET, BY REGION, 2021–2027 (USD MILLION)
    7.6 >250 HP
          TABLE 46 >250 HP: FARM TRACTOR MARKET, BY REGION, 2016–2020 (‘000 UNITS)
          TABLE 47 >250 HP: MARKET, BY REGION, 2021–2027 (‘000 UNITS)
          TABLE 48 >250 HP: MARKET, BY REGION, 2016–2020 (USD MILLION)
          TABLE 49 >250 HP: MARKET, BY REGION, 2021–2027 (USD MILLION)

8 FARM TRACTOR MARKET, BY DRIVE TYPE (Page No. - 112)
    8.1 INTRODUCTION
           8.1.1 RESEARCH METHODOLOGY
           8.1.2 ASSUMPTIONS
           8.1.3 INDUSTRY INSIGHTS
                    FIGURE 33 MARKET, BY DRIVE TYPE, 2021 VS 2027 (USD MILLION)
                    TABLE 50 MARKET, BY DRIVE TYPE, 2016–2020 (‘000 UNITS)
                    TABLE 51 MARKET, BY DRIVE TYPE, 2021–2027 (‘000 UNITS)
                    TABLE 52 MARKET, BY DRIVE TYPE, 2016–2020 (USD MILLION)
                    TABLE 53 MARKET, BY DRIVE TYPE, 2021–2027 (USD MILLION)
    8.2 TWO-WHEEL DRIVE
          TABLE 54 TWO-WHEEL DRIVE: FARM TRACTOR MARKET, BY REGION, 2016–2020 (‘000 UNITS)
          TABLE 55 TWO-WHEEL DRIVE: MARKET, BY REGION, 2021–2027 (‘000 UNITS)
          TABLE 56 TWO-WHEEL DRIVE: MARKET, BY REGION, 2016–2020 (USD MILLION)
          TABLE 57 TWO-WHEEL DRIVE: MARKET, BY REGION, 2021–2027 (USD MILLION)
    8.3 FOUR-WHEEL DRIVE
          TABLE 58 FOUR-WHEEL DRIVE: FARM TRACTOR MARKET, BY REGION, 2016–2020 (‘000 UNITS)
          TABLE 59 FOUR-WHEEL DRIVE: MARKET, BY REGION, 2021–2027 (‘000 UNITS)
          TABLE 60 FOUR-WHEEL DRIVE: MARKET, BY REGION, 2016–2020 (USD MILLION)
          TABLE 61 FOUR-WHEEL DRIVE: MARKET, BY REGION, 2021–2027 (USD MILLION)

9 FARM EQUIPMENT MARKET, BY EQUIPMENT TYPE (Page No. - 118)
    9.1 INTRODUCTION
           9.1.1 RESEARCH METHODOLOGY
           9.1.2 ASSUMPTIONS
           9.1.3 INDUSTRY INSIGHTS
                    FIGURE 34 FARM EQUIPMENT MARKET, BY EQUIPMENT TYPE, 2021 VS. 2027 (USD MILLION)
                    TABLE 62 FARM EQUIPMENT MARKET, BY EQUIPMENT TYPE, 2016–2020 (‘000 UNITS)
                    TABLE 63 FARM EQUIPMENT MARKET, BY EQUIPMENT TYPE, 2021–2027 (‘000 UNITS)
                    TABLE 64 FARM EQUIPMENT MARKET, BY EQUIPMENT TYPE, 2016–2020 (USD MILLION)
                    TABLE 65 FARM EQUIPMENT MARKET, BY EQUIPMENT TYPE, 2021–2027 (USD MILLION)
    9.2 CEREAL COMBINES
          TABLE 66 CEREAL COMBINES MARKET, BY REGION, 2016–2020 (‘000 UNITS)
          TABLE 67 CEREAL COMBINES MARKET, BY REGION, 2021–2027 (‘000 UNITS)
          TABLE 68 CEREAL COMBINES MARKET, BY REGION, 2016–2020 (USD MILLION)
          TABLE 69 CEREAL COMBINES MARKET, BY REGION, 2021–2027 (USD MILLION)
    9.3 NON-CEREAL COMBINES
          TABLE 70 NON-CEREAL COMBINES MARKET, BY REGION, 2016–2020 (‘000 UNITS)
          TABLE 71 NON-CEREAL COMBINES MARKET, BY REGION, 2021–2027 (‘000 UNITS)
          TABLE 72 NON-CEREAL COMBINES MARKET, BY REGION, 2016–2020 (USD MILLION)
          TABLE 73 NON-CEREAL COMBINES MARKET, BY REGION, 2021–2027 (USD MILLION)
    9.4 BALERS
          TABLE 74 BALERS MARKET, BY REGION, 2016–2020 (‘000 UNITS)
          TABLE 75 BALERS MARKET, BY REGION, 2021–2027 (‘000 UNITS)
          TABLE 76 BALERS MARKET, BY REGION, 2016–2020 (USD MILLION)
          TABLE 77 BALERS MARKET, BY REGION, 2021–2027 (USD MILLION)
    9.5 SPRAYERS
          TABLE 78 SPRAYERS MARKET, BY REGION, 2016–2020 (‘000 UNITS)
          TABLE 79 SPRAYERS MARKET, BY REGION, 2021–2027 (‘000 UNITS)
          TABLE 80 SPRAYERS MARKET, BY REGION, 2016–2020 (USD MILLION)
          TABLE 81 SPRAYERS MARKET, BY REGION, 2021–2027 (USD MILLION)

10 FARM IMPLEMENTS MARKET, BY FUNCTION (Page No. - 129)
     10.1 INTRODUCTION
             10.1.1 RESEARCH METHODOLOGY
             10.1.2 ASSUMPTIONS
             10.1.3 INDUSTRY INSIGHTS
                        FIGURE 35 IMPLEMENTS MARKET, BY FUNCTION, 2021 VS. 2027 (USD MILLION)
                        TABLE 82 IMPLEMENTS MARKET, BY FUNCTION, 2016–2020 (USD MILLION)
                        TABLE 83 IMPLEMENTS MARKET, BY FUNCTION, 2021–2027 (USD MILLION)
     10.2 PLOWING & CULTIVATING
             TABLE 84 PLOWING & CULTIVATING MARKET, BY REGION, 2016–2020 (USD MILLION)
             TABLE 85 PLOWING & CULTIVATING MARKET, BY REGION, 2021–2027 (USD MILLION)
     10.3 SOWING & PLANTING
             TABLE 86 SOWING & PLANTING MARKET, BY REGION, 2016–2020 (USD MILLION)
             TABLE 87 SOWING & PLANTING MARKET, BY REGION, 2021–2027 (USD MILLION)
     10.4 PLANT PROTECTION & FERTILIZING
             TABLE 88 PLANT PROTECTION & FERTILIZING MARKET, BY REGION, 2016–2020 (USD MILLION)
             TABLE 89 PLANT PROTECTION & FERTILIZING MARKET, BY REGION, 2021–2027 (USD MILLION)
     10.5 HARVESTING & THRESHING
             TABLE 90 HARVESTING & THRESHING MARKET, BY REGION, 2016–2020 (USD MILLION)
             TABLE 91 HARVESTING & THRESHING MARKET, BY REGION, 2021–2027 (USD MILLION)
     10.6 OTHER IMPLEMENTS
             TABLE 92 OTHER IMPLEMENTS MARKET, BY REGION, 2016–2020 (USD MILLION)
             TABLE 93 OTHER IMPLEMENTS MARKET, BY REGION, 2021–2027 (USD MILLION)

11 FARM EQUIPMENT RENTAL MARKET, BY EQUIPMENT TYPE (Page No. - 137)
     11.1 INTRODUCTION
             11.1.1 RESEARCH METHODOLOGY
             11.1.2 ASSUMPTIONS
             11.1.3 INDUSTRY INSIGHTS
                        FIGURE 36 FARM EQUIPMENT RENTAL MARKET, BY EQUIPMENT TYPE, 2021 VS 2027 (USD MILLION)
                        TABLE 94 FARM EQUIPMENT RENTAL MARKET, BY EQUIPMENT TYPE, 2016–2020 (USD MILLION)
                        TABLE 95 FARM EQUIPMENT RENTAL MARKET, BY EQUIPMENT TYPE, 2021–2027 (USD MILLION)
     11.2 TRACTORS
             TABLE 96 TRACTORS RENTAL MARKET, BY REGION, 2016–2020 (USD MILLION)
             TABLE 97 TRACTORS RENTAL MARKET, BY REGION, 2021–2027 (USD MILLION)
     11.3 COMBINES
             TABLE 98 COMBINES RENTAL MARKET, BY REGION, 2016–2020 (USD MILLION)
             TABLE 99 COMBINES RENTAL MARKET, BY REGION, 2021–2027 (USD MILLION)
     11.4 SPRAYERS
             TABLE 100 SPRAYERS RENTAL MARKET, BY REGION, 2016–2020 (USD MILLION)
             TABLE 101 SPRAYERS RENTAL MARKET, BY REGION, 2021–2027 (USD MILLION)
     11.5 BALERS
             TABLE 102 BALERS RENTAL MARKET, BY REGION, 2016–2020 (USD MILLION)
             TABLE 103 BALERS RENTAL MARKET, BY REGION, 2021–2027 (USD MILLION)
     11.6 OTHER EQUIPMENT
             TABLE 104 OTHER EQUIPMENT RENTAL MARKET, BY REGION, 2016–2020 (USD MILLION)
             TABLE 105 OTHER EQUIPMENT RENTAL MARKET, BY REGION, 2021–2027 (USD MILLION)

12 FARM TRACTOR RENTAL MARKET, BY POWER OUTPUT (Page No. - 146)
     12.1 INTRODUCTION
             12.1.1 RESEARCH METHODOLOGY
             12.1.2 ASSUMPTIONS
             12.1.3 INDUSTRY INSIGHTS
                        FIGURE 37 FARM TRACTOR RENTAL MARKET, BY POWER OUTPUT, 2021 VS. 2027 (USD MILLION)
                        TABLE 106 FARM TRACTOR RENTAL MARKET, BY POWER OUTPUT, 2016–2020 (USD MILLION)
                        TABLE 107 FARM TRACTOR RENTAL MARKET, BY POWER OUTPUT, 2021–2027 (USD MILLION)
     12.2 <30 HP
             TABLE 108 <30 HP: FARM TRACTOR RENTAL MARKET, BY REGION, 2016–2020 (USD MILLION)
             TABLE 109 <30 HP: FARM TRACTOR RENTAL MARKET, BY REGION, 2021–2027 (USD MILLION)
     12.3 31–70 HP
             TABLE 110 31–70 HP: FARM TRACTOR RENTAL MARKET, BY REGION, 2016–2020 (USD MILLION)
             TABLE 111 31–70 HP: FARM TRACTOR RENTAL MARKET, BY REGION, 2021–2027 (USD MILLION)
     12.4 71–130 HP
             TABLE 112 71–130 HP: FARM TRACTOR RENTAL MARKET, BY REGION, 2016–2020 (USD MILLION)
             TABLE 113 71–130 HP: FARM TRACTOR RENTAL MARKET, BY REGION, 2021–2027 (USD MILLION)
     12.5 131–250 HP
             TABLE 114 131–250 HP: FARM TRACTOR RENTAL MARKET, BY REGION, 2016–2020 (USD MILLION)
             TABLE 115 131–250 HP: FARM TRACTOR RENTAL MARKET, BY REGION, 2021–2027 (USD MILLION)
     12.6 >250 HP
             TABLE 116 >250 HP: FARM TRACTOR RENTAL MARKET, BY REGION, 2016–2020 (USD MILLION)
             TABLE 117 >250 HP: FARM TRACTOR RENTAL MARKET, BY REGION, 2021–2027 (USD MILLION)

13 FARM TRACTOR RENTAL MARKET, BY DRIVE TYPE (Page No. - 155)
     13.1 INTRODUCTION
             13.1.1 RESEARCH METHODOLOGY
             13.1.2 ASSUMPTIONS
             13.1.3 INDUSTRY INSIGHTS
                        FIGURE 38 FARM TRACTOR RENTAL MARKET, BY DRIVE TYPE, 2021–2027 (USD MILLION)
                        TABLE 118 FARM TRACTOR RENTAL MARKET, BY DRIVE TYPE, 2016–2020 (USD MILLION)
                        TABLE 119 FARM TRACTOR RENTAL MARKET, BY DRIVE TYPE, 2021–2027 (USD MILLION)
     13.2 TWO-WHEEL DRIVE
             TABLE 120 TWO-WHEEL DRIVE TRACTOR RENTAL MARKET, BY REGION, 2016-2020 (USD MILLION)
             TABLE 121 TWO-WHEEL DRIVE TRACTOR RENTAL MARKET, BY REGION, 2021-2027 (USD MILLION)
     13.3 FOUR-WHEEL DRIVE
             TABLE 122 FOUR-WHEEL DRIVE TRACTOR RENTAL MARKET, BY REGION, 2016-2020 (USD MILLION)
             TABLE 123 FOUR-WHEEL DRIVE TRACTOR RENTAL MARKET, BY REGION, 2021-2027 (USD MILLION)

14 AUTONOMOUS TRACTOR MARKET, BY POWER OUTPUT (Page No. - 161)
     14.1 INTRODUCTION
             14.1.1 RESEARCH METHODOLOGY
             14.1.2 ASSUMPTIONS
             14.1.3 INDUSTRY INSIGHTS
                        FIGURE 39 AUTONOMOUS TRACTOR MARKET, BY POWER OUTPUT, 2022–2030 (USD MILLION)
                        TABLE 124 AUTONOMOUS TRACTOR MARKET, BY POWER OUTPUT, 2022–2025 (‘000 UNITS)
                        TABLE 125 AUTONOMOUS TRACTOR MARKET, BY POWER OUTPUT, 2026–2030 (‘000 UNITS)
                        TABLE 126 AUTONOMOUS TRACTOR MARKET, BY POWER OUTPUT, 2022–2025 (USD MILLION)
                        TABLE 127 AUTONOMOUS TRACTOR MARKET, BY POWER OUTPUT, 2026–2030 (USD MILLION)
     14.2 <30 HP
             TABLE 128 <30 HP: AUTONOMOUS TRACTOR MARKET, BY REGION, 2022–2025 (‘000 UNITS)
             TABLE 129 <30 HP: AUTONOMOUS TRACTOR MARKET, BY REGION, 2026–2030 (‘000 UNITS)
             TABLE 130 <30 HP: AUTONOMOUS TRACTOR MARKET, BY REGION, 2022–2025 (USD MILLION)
             TABLE 131 <30 HP: AUTONOMOUS TRACTOR MARKET, BY REGION, 2026–2030 (USD MILLION)
     14.3 31–100 HP
             TABLE 132 31-100 HP: AUTONOMOUS TRACTOR MARKET, BY REGION, 2022–2025 (‘000 UNITS)
             TABLE 133 31-100 HP: AUTONOMOUS TRACTOR MARKET, BY REGION, 2026–2030 (‘000 UNITS)
             TABLE 134 31-100 HP: AUTONOMOUS TRACTOR MARKET, BY REGION, 2022–2025 (USD MILLION)
             TABLE 135 31-100 HP: AUTONOMOUS TRACTOR MARKET, BY REGION, 2026–2030 (USD MILLION)
     14.4 >100 HP
             TABLE 136 >100 HP: AUTONOMOUS TRACTOR MARKET, BY REGION, 2022–2025 (‘000 UNITS)
             TABLE 137 >100 HP: AUTONOMOUS TRACTOR MARKET, BY REGION, 2026–2030 (‘000 UNITS)
             TABLE 138 >100 HP: AUTONOMOUS TRACTOR MARKET, BY REGION, 2022–2025 (USD MILLION)
             TABLE 139 >100 HP: AUTONOMOUS TRACTOR MARKET, BY REGION, 2026–2030 (USD MILLION)

15 ELECTRIC TRACTOR MARKET, BY PROPULSION (Page No. - 170)
     15.1 INTRODUCTION
             15.1.1 RESEARCH METHODOLOGY
             15.1.2 ASSUMPTIONS
             15.1.3 INDUSTRY INSIGHTS
                        FIGURE 40 ELECTRIC TRACTOR MARKET, BY PROPULSION, 2021–2027 (USD MILLION)
                        TABLE 140 ELECTRIC TRACTOR MARKET, BY PROPULSION, 2018-2020 (UNITS)
                        TABLE 141 ELECTRIC TRACTOR MARKET, BY PROPULSION, 2021–2027 (UNITS)
                        TABLE 142 ELECTRIC TRACTOR MARKET, BY PROPULSION, 2018-2020 (USD MILLION)
                        TABLE 143 ELECTRIC TRACTOR MARKET, BY PROPULSION, 2021–2027 (USD MILLION)
     15.2 BATTERY ELECTRIC
             TABLE 144 BATTERY ELECTRIC TRACTOR MARKET, BY REGION, 2018–2020 (UNITS)
             TABLE 145 BATTERY ELECTRIC TRACTOR MARKET, BY REGION, 2021–2027 (UNITS)
             TABLE 146 BATTERY ELECTRIC TRACTOR MARKET, BY REGION, 2018-2020 (USD MILLION)
             TABLE 147 BATTERY ELECTRIC TRACTOR MARKET, BY REGION, 2021–2027 (USD MILLION)
     15.3 HYBRID ELECTRIC
             TABLE 148 HYBRID ELECTRIC TRACTOR MARKET, BY REGION, 2018-2020 (UNITS)
             TABLE 149 HYBRID ELECTRIC TRACTOR MARKET, BY REGION, 2021–2027 (UNITS)
             TABLE 150 HYBRID ELECTRIC TRACTOR MARKET, BY REGION, 2018-2020 (USD MILLION)
             TABLE 151 HYBRID ELECTRIC TRACTOR MARKET, BY REGION, 2021–2027 (USD MILLION)

16 FARM TRACTOR MARKET, BY REGION (Page No. - 178)
     16.1 INTRODUCTION
             16.1.1 RESEARCH METHODOLOGY
             16.1.2 ASSUMPTIONS
             16.1.3 INDUSTRY INSIGHTS
                        FIGURE 41 FARM TRACTOR MARKET, BY REGION, 2021 VS 2027 (USD MILLION)
                        TABLE 152 MARKET, BY REGION, 2016–2020 (‘000 UNITS)
                        TABLE 153 MARKET, BY REGION, 2021–2027 (‘000 UNITS)
                        TABLE 154 MARKET, BY REGION, 2016–2020 (USD MILLION)
                        TABLE 155 MARKET, BY REGION, 2021–2027 (USD MILLION)
     16.2 ASIA OCEANIA
             FIGURE 42 ASIA OCEANIA: FARM TRACTOR MARKET SNAPSHOT
             TABLE 156 ASIA OCEANIA: MARKET, BY COUNTRY, 2016–2020 (‘000 UNITS)
             TABLE 157 ASIA OCEANIA: MARKET, BY COUNTRY, 2021–2027 (‘000 UNITS)
             TABLE 158 ASIA-OCEANIA: MARKET, BY COUNTRY, 2016–2020 (USD MILLION)
             TABLE 159 ASIA OCEANIA: MARKET, BY COUNTRY, 2021–2027 (USD MILLION)
             16.2.1 AUSTRALIA
                        16.2.1.1 Government assistance to farmers expected to drive market
                                      TABLE 160 AUSTRALIA: FARM TRACTOR MARKET, BY POWER OUTPUT, 2016–2020 (‘000 UNITS)
                                      TABLE 161 AUSTRALIA: MARKET, BY POWER OUTPUT, 2021–2027 (‘000 UNITS)
                                      TABLE 162 AUSTRALIA: MARKET, BY POWER OUTPUT, 2016–2020 (USD MILLION)
                                      TABLE 163 AUSTRALIA: MARKET, BY POWER OUTPUT, 2021–2027 (USD MILLION)
             16.2.2 CHINA
                        16.2.2.1 Favorable government policies to subsidize tractor sales drive in China
                                      TABLE 164 CHINA: MARKET, BY POWER OUTPUT, 2016–2020 (‘000 UNITS)
                                      TABLE 165 CHINA: MARKET, BY POWER OUTPUT, 2021–2027 (‘000 UNITS)
                                      TABLE 166 CHINA: MARKET, BY POWER OUTPUT, 2016–2020 (USD MILLION)
                                      TABLE 167 CHINA: MARKET, BY POWER OUTPUT, 2021–2027 (USD MILLION)
             16.2.3 INDIA
                        16.2.3.1 Rise in farm mechanization expected to drive Indian farm tractor market
                                      TABLE 168 INDIA: FARM TRACTOR MARKET, BY POWER OUTPUT, 2016–2020 (‘000 UNITS)
                                      TABLE 169 INDIA: MARKET, BY POWER OUTPUT, 2021–2027 (‘000 UNITS)
                                      TABLE 170 INDIA: MARKET, BY POWER OUTPUT, 2016–2020 (USD MILLION)
                                      TABLE 171 INDIA: MARKET, BY POWER OUTPUT, 2021–2027 (USD MILLION)
             16.2.4 JAPAN
                        16.2.4.1 Focus on encouraging agricultural co-operatives expected to fuel Japanese market
                                      TABLE 172 JAPAN: FARM TRACTOR MARKET, BY POWER OUTPUT, 2016–2020 (‘000 UNITS)
                                      TABLE 173 JAPAN: MARKET, BY POWER OUTPUT, 2021–2027 (‘000 UNITS)
                                      TABLE 174 JAPAN: MARKET, BY POWER OUTPUT, 2016–2020 (USD MILLION)
                                      TABLE 175 JAPAN: MARKET, BY POWER OUTPUT, 2021–2027 (USD MILLION)
             16.2.5 SOUTH KOREA
                        16.2.5.1 Debt restructuring plans for farmers to influence South Korean farm tractor market
                                      TABLE 176 SOUTH KOREA: FARM TRACTOR MARKET, BY POWER OUTPUT, 2016–2020 (‘000 UNITS)
                                      TABLE 177 SOUTH KOREA: MARKET, BY POWER OUTPUT, 2021–2027 (‘000 UNITS)
                                      TABLE 178 SOUTH KOREA: MARKET, BY POWER OUTPUT, 2016–2020 (USD MILLION)
                                      TABLE 179 SOUTH KOREA: MARKET, BY POWER OUTPUT, 2021–2027 (USD MILLION)
             16.2.6 REST OF ASIA OCEANIA
                        16.2.6.1 Favorable government policies drive farm tractors market in Rest of Asia Oceania
                                      TABLE 180 REST OF ASIA OCEANIA: FARM TRACTOR MARKET, BY POWER OUTPUT, 2016–2020 (‘000 UNITS)
                                      TABLE 181 REST OF ASIA OCEANIA: MARKET, BY POWER OUTPUT, 2021–2027 (‘000 UNITS)
                                      TABLE 182 REST OF ASIA OCEANIA: MARKET, BY POWER OUTPUT, 2016–2020 (USD MILLION)
                                      TABLE 183 REST OF ASIA OCEANIA: MARKET, BY POWER OUTPUT, 2021–2027 (USD MILLION)
     16.3 EUROPE
             FIGURE 43 EUROPE: FARM TRACTOR MARKET SNAPSHOT
             TABLE 184 EUROPE: MARKET, BY COUNTRY, 2016–2020 (‘000 UNITS)
             TABLE 185 EUROPE: MARKET, BY COUNTRY, 2021–2027 (‘000 UNITS)
             TABLE 186 EUROPE: MARKET, BY COUNTRY, 2016–2020 (USD MILLION)
             TABLE 187 EUROPE: MARKET, BY COUNTRY, 2021–2027 (USD MILLION)
             16.3.1 FRANCE
                        16.3.1.1 Shortage of labor expected to drive French farm tractor market
                                      TABLE 188 FRANCE: FARM TRACTOR MARKET, BY POWER OUTPUT, 2016–2020 (‘000 UNITS)
                                      TABLE 189 FRANCE: MARKET, BY POWER OUTPUT, 2021–2027 (‘000 UNITS)
                                      TABLE 190 FRANCE: MARKET, BY POWER OUTPUT, 2016–2020 (USD MILLION)
                                      TABLE 191 FRANCE: MARKET, BY POWER OUTPUT, 2021–2027 (USD MILLION)
             16.3.2 GERMANY
                        16.3.2.1 Increasing demand for high-powered tractors expected to fuel German market
                                      TABLE 192 GERMANY: FARM TRACTOR MARKET, BY POWER OUTPUT, 2016–2020 (‘000 UNITS)
                                      TABLE 193 GERMANY: MARKET, BY POWER OUTPUT, 2021–2027 (‘000 UNITS)
                                      TABLE 194 GERMANY: MARKET, BY POWER OUTPUT, 2016–2020 (USD MILLION)
                                      TABLE 195 GERMANY: MARKET, BY POWER OUTPUT, 2021–2027 (USD MILLION)
             16.3.3 ITALY
                        16.3.3.1 Increasing popularity of precision agriculture expected to propel market in Italy
                                      TABLE 196 ITALY: FARM TRACTOR MARKET, BY POWER OUTPUT, 2016–2020 (‘000 UNITS)
                                      TABLE 197 ITALY: MARKET, BY POWER OUTPUT, 2021–2027 (‘000 UNITS)
                                      TABLE 198 ITALY: MARKET, BY POWER OUTPUT, 2016–2020 (USD MILLION)
                                      TABLE 199 ITALY: MARKET, BY POWER OUTPUT, 2021–2027 (USD MILLION)
             16.3.4 POLAND
                        16.3.4.1 Farm subsidies in Poland expected to drive market
                                      TABLE 200 POLAND: FARM TRACTOR MARKET, BY POWER OUTPUT, 2016–2020 (‘000 UNITS)
                                      TABLE 201 POLAND: MARKET, BY POWER OUTPUT, 2021–2027 (‘000 UNITS)
                                      TABLE 202 POLAND: MARKET, BY POWER OUTPUT, 2016–2020 (USD MILLION)
                                      TABLE 203 POLAND: MARKET, BY POWER OUTPUT, 2021–2027 (USD MILLION)
             16.3.5 RUSSIA
                        16.3.5.1 Small and medium-sized farms to support Russian market
                                      TABLE 204 RUSSIA: FARM TRACTOR MARKET, BY POWER OUTPUT, 2016–2020 (‘000 UNITS)
                                      TABLE 205 RUSSIA: MARKET, BY POWER OUTPUT, 2021–2027 (‘000 UNITS)
                                      TABLE 206 RUSSIA: MARKET, BY POWER OUTPUT, 2016–2020 (USD MILLION)
                                      TABLE 207 RUSSIA: MARKET, BY POWER OUTPUT, 2021–2027 (USD MILLION)
             16.3.6 SPAIN
                        16.3.6.1 Shortage of labor and increasing focus on precision agriculture to fuel market in Spain
                                      TABLE 208 SPAIN: FARM TRACTOR MARKET, BY POWER OUTPUT, 2016–2020 (‘000 UNITS)
                                      TABLE 209 SPAIN: MARKET, BY POWER OUTPUT, 2021–2027 (‘000 UNITS)
                                      TABLE 210 SPAIN: MARKET, BY POWER OUTPUT, 2016–2020 (USD MILLION)
                                      TABLE 211 SPAIN: MARKET, BY POWER OUTPUT, 2021–2027 (USD MILLION)
             16.3.7 TURKEY
                        16.3.7.1 Larger farm sizes and favorable government policies to accelerate market in Turkey
                                      TABLE 212 TURKEY: FARM TRACTOR MARKET, BY POWER OUTPUT, 2016–2020 (‘000 UNITS)
                                      TABLE 213 TURKEY: MARKET, BY POWER OUTPUT, 2021–2027 (‘000 UNITS)
                                      TABLE 214 TURKEY: MARKET, BY POWER OUTPUT, 2016–2020 (USD MILLION)
                                      TABLE 215 TURKEY: MARKET, BY POWER OUTPUT, 2021–2027 (USD MILLION)
             16.3.8 UK
                        16.3.8.1 Demand for high-powered tractors to push UK market
                                      TABLE 216 UK: MARKET, BY POWER OUTPUT, 2016–2020 (‘000 UNITS)
                                      TABLE 217 UK: MARKET, BY POWER OUTPUT, 2021–2027 (‘000 UNITS)
                                      TABLE 218 UK: MARKET, BY POWER OUTPUT, 2016–2020 (USD MILLION)
                                      TABLE 219 UK: MARKET, BY POWER OUTPUT, 2021–2027 (USD MILLION)
             16.3.9 REST OF EUROPE
                        16.3.9.1 Financial aids from governments expected to drive Rest of Europe market
                                      TABLE 220 REST OF EUROPE: FARM TRACTOR MARKET, BY POWER OUTPUT, 2016–2020 (‘000 UNITS)
                                      TABLE 221 REST OF EUROPE: MARKET, BY POWER OUTPUT, 2021–2027 (‘000 UNITS)
                                      TABLE 222 REST OF EUROPE: MARKET, BY POWER OUTPUT, 2016–2020 (USD MILLION)
                                      TABLE 223 REST OF EUROPE: MARKET, BY POWER OUTPUT, 2021–2027 (USD MILLION)
     16.4 NORTH AMERICA
             FIGURE 44 NORTH AMERICA FARM TRACTOR MARKET, BY COUNTRY, 2021 VS 2027 (USD MILLION)
             TABLE 224 NORTH AMERICA: MARKET, BY COUNTRY, 2016–2020 (‘000 UNITS)
             TABLE 225 NORTH AMERICA: MARKET, BY COUNTRY, 2021–2027 (‘000 UNITS)
             TABLE 226 NORTH AMERICA: MARKET, BY COUNTRY, 2016–2020 (USD MILLION)
             TABLE 227 NORTH AMERICA: MARKET, BY COUNTRY, 2021–2027 (USD MILLION)
             16.4.1 CANADA
                        16.4.1.1 Farm mechanization and investment by government for crop production to expand market in Canada
                                      TABLE 228 CANADA: FARM TRACTOR MARKET, BY POWER OUTPUT, 2016–2020 (‘000 UNITS)
                                      TABLE 229 CANADA: MARKET, BY POWER OUTPUT, 2021–2027 (‘000 UNITS)
                                      TABLE 230 CANADA: MARKET, BY POWER OUTPUT, 2016–2020 (USD MILLION)
                                      TABLE 231 CANADA: MARKET, BY POWER OUTPUT, 2021–2027 (USD MILLION)
             16.4.2 MEXICO
                        16.4.2.1 Government support and presence of OEMs fuel market in Mexico
                                      TABLE 232 MEXICO: FARM TRACTOR MARKET, BY POWER OUTPUT, 2016–2020 (‘000 UNITS)
                                      TABLE 233 MEXICO: MARKET, BY POWER OUTPUT, 2021–2027 (‘000 UNITS)
                                      TABLE 234 MEXICO: MARKET, BY POWER OUTPUT, 2016–2020 (USD MILLION)
                                      TABLE 235 MEXICO: MARKET, BY POWER OUTPUT, 2021–2027 (USD MILLION)
             16.4.3 US
                        16.4.3.1 Presence of key players expected to amplify tractors market in US
                                      TABLE 236 US: FARM TRACTOR MARKET, BY POWER OUTPUT, 2016–2020 (‘000 UNITS)
                                      TABLE 237 US: MARKET, BY POWER OUTPUT, 2021–2027 (‘000 UNITS)
                                      TABLE 238 US: MARKET, BY POWER OUTPUT, 2016–2020 (USD MILLION)
                                      TABLE 239 US: MARKET, BY POWER OUTPUT, 2021–2027 (USD MILLION)
     16.5 REST OF THE WORLD (ROW)
             FIGURE 45 REST OF THE WORLD: MARKET, BY COUNTRY, 2021 VS 2027 (USD MILLION)
             TABLE 240 REST OF THE WORLD: MARKET, BY COUNTRY, 2016–2020 (‘000 UNITS)
             TABLE 241 REST OF THE WORLD: MARKET, BY COUNTRY, 2021–2027 (‘000 UNITS)
             TABLE 242 REST OF THE WORLD: MARKET, BY COUNTRY, 2016–2020 (USD MILLION)
             TABLE 243 REST OF THE WORLD: MARKET, BY COUNTRY, 2021–2027 (USD MILLION)
             16.5.1 ARGENTINA
                        16.5.1.1 Focus of key players in manufacturing tractors push market in Argentina
                                      TABLE 244 ARGENTINA: FARM TRACTOR MARKET, BY POWER OUTPUT, 2016–2020 (‘000 UNITS)
                                      TABLE 245 ARGENTINA: MARKET, BY POWER OUTPUT, 2021–2027 (‘000 UNITS)
                                      TABLE 246 ARGENTINA: MARKET, BY POWER OUTPUT, 2016–2020 (USD MILLION)
                                      TABLE 247 ARGENTINA: MARKET, BY POWER OUTPUT, 2021–2027 (USD MILLION)
             16.5.2 BRAZIL
                        16.5.2.1 Increasing export of tractors drive market in Brazil
                                      TABLE 248 BRAZIL: FARM TRACTOR MARKET, BY POWER OUTPUT, 2016–2020 (‘000 UNITS)
                                      TABLE 249 BRAZIL: MARKET, BY POWER OUTPUT, 2021–2027 (‘000 UNITS)
                                      TABLE 250 BRAZIL: MARKET, BY POWER OUTPUT, 2016–2020 (USD MILLION)
                                      TABLE 251 BRAZIL: MARKET, BY POWER OUTPUT, 2021–2027 (USD MILLION)
             16.5.3 OTHERS
                        16.5.3.1 Exports of produce and government subsidies accelerate market in Rest of RoW
                                      TABLE 252 OTHERS: FARM TRACTOR MARKET, BY POWER OUTPUT,  2016–2020 (‘000 UNITS)
                                      TABLE 253 OTHERS: MARKET, BY POWER OUTPUT, 2021–2027 (‘000 UNITS)
                                      TABLE 254 OTHERS: MARKET, BY POWER OUTPUT, 2016–2020 (USD MILLION)
                                      TABLE 255 OTHERS: MARKET, BY POWER OUTPUT, 2021–2027 (USD MILLION)

17 COMPETITIVE LANDSCAPE (Page No. - 227)
     17.1 OVERVIEW
     17.2 FARM EQUIPMENT MARKET SHARE ANALYSIS, 2020
             TABLE 256 FARM EQUIPMENT MARKET SHARE ANALYSIS, 2020
             FIGURE 46 FARM EQUIPMENT MARKET SHARE, 2020
     17.3 REVENUE ANALYSIS OF TOP LISTED/PUBLIC PLAYERS
             FIGURE 47 REVENUE ANALYSIS OF TOP LISTED/PUBLIC PLAYERS, 2018-2020
     17.4 COMPANY EVALUATION QUADRANT: FARM EQUIPMENT SUPPLIERS
             17.4.1 STAR
             17.4.2 EMERGING LEADERS
             17.4.3 PERVASIVE
             17.4.4 PARTICIPANTS
                        TABLE 257 FARM EQUIPMENT MARKET: COMPANY PRODUCT FOOTPRINT, 2020
                        TABLE 258 FARM TRACTOR MARKET: COMPANY PROPULSION FOOTPRINT, 2020
                        TABLE 259 FARM EQUIPMENT MARKET: COMPANY REGION FOOTPRINT, 2020
                        FIGURE 48 COMPETITIVE EVALUATION MATRIX: FARM EQUIPMENT SUPPLIERS, 2020
                        FIGURE 49 DETAILS ON KEY DEVELOPMENTS BY LEADING PLAYERS
     17.5 COMPETITIVE SCENARIO
             17.5.1 NEW PRODUCT DEVELOPMENTS
                        TABLE 260 NEW PRODUCT DEVELOPMENTS, 2018–2022
             17.5.2 DEALS
                        TABLE 261 DEALS, 2018–2022
             17.5.3 OTHER DEVELOPMENTS
                        TABLE 262 OTHER DEVELOPMENTS, 2018–2021
     17.6 KEY PLAYER STRATEGIES/RIGHT TO WIN, 2018–2021
             TABLE 263 COMPANIES ADOPTED NEW PRODUCT DEVELOPMENTS, PARTNERSHIPS, AND SUPPLY CONTRACTS AS KEY GROWTH STRATEGIES FROM 2018 TO 2021

18 COMPANY PROFILES (Page No. - 257)
     18.1 KEY PLAYERS
(Business Overview, Products Offered, Recent Developments, and MnM View (Key strengths/Right to Win, Strategic Choices Made, and Weaknesses and Competitive Threats))*
             18.1.1 JOHN DEERE
                        TABLE 264 JOHN DEERE: BUSINESS OVERVIEW
                        FIGURE 50 JOHN DEERE: COMPANY SNAPSHOT
                        TABLE 265 JOHN DEERE: PRODUCTS OFFERED
                        TABLE 266 JOHN DEERE: DEALS
                        TABLE 267 JOHN DEERE: NEW PRODUCT DEVELOPMENTS
             18.1.2 CNH INDUSTRIAL
                        TABLE 268 CNH INDUSTRIAL: BUSINESS OVERVIEW
                        FIGURE 51 CNH INDUSTRIAL: COMPANY SNAPSHOT
                        TABLE 269 CNH INDUSTRIAL: PRODUCTS OFFERED
                        TABLE 270 CNH INDUSTRIAL: NEW PRODUCT DEVELOPMENTS
                        TABLE 271 CNH INDUSTRIAL: DEALS
                        TABLE 272 CNH INDUSTRIAL: OTHER DEVELOPMENTS
             18.1.3 MAHINDRA & MAHINDRA
                        TABLE 273 MAHINDRA & MAHINDRA: BUSINESS OVERVIEW
                        FIGURE 52 MAHINDRA & MAHINDRA: COMPANY SNAPSHOT
                        TABLE 274 MAHINDRA & MAHINDRA: PRODUCTS OFFERED
                        TABLE 275 MAHINDRA & MAHINDRA: NEW PRODUCT DEVELOPMENTS
                        TABLE 276 MAHINDRA & MAHINDRA: DEALS
                        TABLE 277 MAHINDRA & MAHINDRA: OTHER DEVELOPMENT
             18.1.4 AGCO CORPORATION
                        TABLE 278 AGCO CORPORATION: BUSINESS OVERVIEW
                        FIGURE 53 AGCO CORPORATION: COMPANY SNAPSHOT
                        TABLE 279 AGCO CORPORATION: PRODUCTS OFFERED
                        TABLE 280 AGCO CORPORATION: NEW PRODUCT DEVELOPMENTS
                        TABLE 281 AGCO CORPORATION: DEALS
                        TABLE 282 AGCO CORPORATION.: OTHER DEVELOPMENT
             18.1.5 KUBOTA CORPORATION
                        TABLE 283 KUBOTA CORPORATION: BUSINESS OVERVIEW
                        FIGURE 54 KUBOTA CORPORATION: COMPANY SNAPSHOT
                        TABLE 284 KUBOTA CORPORATION: PRODUCTS OFFERED
                        TABLE 285 KUBOTA CORPORATION: NEW PRODUCT DEVELOPMENTS
                        TABLE 286 KUBOTA CORPORATION: DEALS
                        TABLE 287 KUBOTA CORPORATION.: OTHER DEVELOPMENT
             18.1.6 CLAAS KGAA MBH
                        TABLE 288 CLAAS KGAA MBH: BUSINESS OVERVIEW
                        FIGURE 55 CLAAS KGAA MBH: COMPANY SNAPSHOT
                        TABLE 289 CLAAS KGAA MBH: PRODUCTS OFFERED
                        TABLE 290 CLAAS KGAA MBH: NEW PRODUCT DEVELOPMENTS
                        TABLE 291 CLAAS KGAA MBH: DEALS
                        TABLE 292 CLAAS KGAA MBH: OTHER DEVELOPMENT
             18.1.7 ISEKI & CO., LTD.
                        TABLE 293 ISEKI & CO., LTD.: BUSINESS OVERVIEW
                        FIGURE 56 ISEKI & CO., LTD.: COMPANY SNAPSHOT
                        TABLE 294 ISEKI & CO., LTD.: PRODUCTS OFFERED
                        TABLE 295 ISEKI & CO., LTD.: DEALS
             18.1.8 ESCORTS LIMITED
                        TABLE 296 ESCORTS LIMITED: BUSINESS OVERVIEW
                        FIGURE 57 ESCORTS LIMITED: COMPANY SNAPSHOT
                        TABLE 297 ESCORTS LIMITED: PRODUCTS OFFERED
                        TABLE 298 ESCORTS LIMITED: NEW PRODUCT DEVELOPMENTS
                        TABLE 299 ESCORTS LIMITED: DEALS
             18.1.9 SDF GROUP
                        TABLE 300 SDF GROUP: BUSINESS OVERVIEW
                        FIGURE 58 SDF GROUP: COMPANY SNAPSHOT
                        TABLE 301 SDF GROUP: PRODUCTS OFFERED
                        TABLE 302 SDF GROUP: NEW PRODUCT DEVELOPMENTS
                        TABLE 303 SDF GROUP: DEALS
                        TABLE 304 SDF GROUP: OTHER DEVELOPMENT
             18.1.10 YANMAR HOLDINGS CO., LTD.
                        TABLE 305 YANMAR HOLDINGS CO., LTD.: BUSINESS OVERVIEW
                        FIGURE 59 YANMAR HOLDINGS CO., LTD.: COMPANY SNAPSHOT
                        TABLE 306 YANMAR HOLDINGS CO., LTD.: PRODUCTS OFFERED
                        TABLE 307 YANMAR HOLDINGS CO., LTD.: NEW PRODUCT DEVELOPMENTS
                        TABLE 308 YANMAR HOLDINGS CO., LTD.: DEALS
                        TABLE 309 YANMAR HOLDINGS CO., LTD.: OTHER DEVELOPMENT
     18.2 OTHER PLAYERS
             18.2.1 JCB
                        TABLE 310 JCB: COMPANY OVERVIEW
             18.2.2 TRACTORS AND FARM EQUIPMENT LIMITED
                        TABLE 311 TRACTORS AND FARM EQUIPMENT LIMITED: COMPANY OVERVIEW
             18.2.3 SONALIKA GROUP
                        TABLE 312 SONALIKA GROUP: COMPANY OVERVIEW
             18.2.4 TONG YANG MOOLSAN (TYM)
                        TABLE 313 TONG YANG MOOLSAN (TYM): COMPANY OVERVIEW
             18.2.5 DAEDONG INDUSTRIAL COMPANY LTD.
                        TABLE 314 DAEDONG INDUSTRIAL COMPANY LTD.: COMPANY OVERVIEW
             18.2.6 EXEL INDUSTRIES
                        TABLE 315 EXEL INDUSTRIES: COMPANY OVERVIEW
             18.2.7 BUCHER INDUSTRIES
                        TABLE 316 BUCHER INDUSTRIES: COMPANY OVERVIEW
             18.2.8 ZETOR TRACTORS
                        TABLE 317 ZETOR TRACTORS: COMPANY OVERVIEW
             18.2.9 ARGO TRACTORS S.P.A.
                        TABLE 318 ARGO TRACTORS S.P.A.: COMPANY OVERVIEW
             18.2.10 CONCERN TRACTOR PLANTS
                        TABLE 319 CONCERN TRACTOR PLANTS: COMPANY OVERVIEW
             18.2.11 AMAZONE H. DREYER GMBH & CO. KG
                        TABLE 320 AMAZONE H. DREYER GMBH & CO. KG: COMPANY OVERVIEW
             18.2.12 ALAMO GROUP INC.
                        TABLE 321 ALAMO GROUP INC.: COMPANY OVERVIEW
             18.2.13 BUHLER INDUSTRIES INC.
                        TABLE 322 BUHLER INDUSTRIES INC.: COMPANY OVERVIEW
             18.2.14 AUTONOMOUS TRACTOR CORPORATION
                        TABLE 323 AUTONOMOUS TRACTOR CORPORATION: COMPANY OVERVIEW
             18.2.15 CHANGZHOU DONGFENG AGRICULTURAL MACHINERY GROUP CO., LTD.
                        TABLE 324 CHANGZHOU DONGFENG AGRICULTURAL MACHINERY GROUP CO., LTD.: COMPANY OVERVIEW
             18.2.16 CHINA NATIONAL MACHINERY INDUSTRY CORPORATION
                        TABLE 325 CHINA NATIONAL MACHINERY INDUSTRY CORPORATION: COMPANY OVERVIEW
             18.2.17 WEICHAI LOVOL HEAVY INDUSTRY CO., LTD
                        TABLE 326 WEICHAI LOVOL HEAVY INDUSTRY CO., LTD: COMPANY OVERVIEW
             18.2.18 KRONE GMBH & CO. KG
                        TABLE 327 KRONE GMBH & CO. KG: COMPANY OVERVIEW
             18.2.19 VERMEER CORPORATION
                        TABLE 328 VERMEER CORPORATION: COMPANY OVERVIEW
             18.2.20 PΦTTINGER LANDTECHNIK GMBH
                        TABLE 329 PΦTTINGER LANDTECHNIK GMBH: COMPANY OVERVIEW

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

19 APPENDIX (Page No. - 333)
     19.1 INSIGHTS OF INDUSTRY EXPERTS
     19.2 DISCUSSION GUIDE
     19.3 KNOWLEDGESTORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL
     19.4 AVAILABLE CUSTOMIZATIONS
             19.4.1 FARM EQUIPMENT MARKET, BY POWER TYPE & COUNTRY
                        19.4.1.1 Asia Oceania
                                     19.4.1.1.1 China
                                     19.4.1.1.2 India
                                     19.4.1.1.3 Japan
                                     19.4.1.1.4 South Korea
                                     19.4.1.1.5 Australia
                                     19.4.1.1.6 Rest of Asia Oceania
                        19.4.1.2 Europe
                                     19.4.1.2.1 Germany
                                     19.4.1.2.2 France
                                     19.4.1.2.3 UK
                                     19.4.1.2.4 Spain
                                     19.4.1.2.5 Russia
                                     19.4.1.2.6 Italy
                                     19.4.1.2.7 Poland
                                     19.4.1.2.8 Turkey
                                     19.4.1.2.9 Rest of Europe
                        19.4.1.3 North America
                                     19.4.1.3.1 US
                                     19.4.1.3.2 Canada
                                     19.4.1.3.3 Mexico
                        19.4.1.4 Rest of the World
                                     19.4.1.4.1 Brazil
                                     19.4.1.4.2 Argentina
                                     19.4.1.4.3 Others
             19.4.2 ELECTRIC TRACTOR MARKET, BY POWER OUTPUT & COUNTRY
                        19.4.2.1 Asia Oceania
                                     19.4.2.1.1 China
                                     19.4.2.1.2 India
                                     19.4.2.1.3 Japan
                                     19.4.2.1.4 South Korea
                                     19.4.2.1.5 Australia
                                     19.4.2.1.6 Rest of Asia Oceania
                        19.4.2.2 Europe
                                     19.4.2.2.1 Germany
                                     19.4.2.2.2 France
                                     19.4.2.2.3 UK
                                     19.4.2.2.4 Spain
                                     19.4.2.2.5 Russia
                                     19.4.2.2.6 Italy
                                     19.4.2.2.7 Poland
                                     19.4.2.2.8 Turkey
                                     19.4.2.2.9 Rest of Europe
                        19.4.2.3 North America
                                     19.4.2.3.1 US
                                     19.4.2.3.2 Canada
                                     19.4.2.3.3 Mexico
                        19.4.2.4 Rest of the World
                                     19.4.2.4.1 Brazil
                                     19.4.2.4.2 Argentina
                                     19.4.2.4.3 Others
             19.4.3 DETAILED ANALYSIS AND PROFILING OF ADDITIONAL MARKET PLAYERS (UP TO 3)
     19.5 RELATED REPORTS
     19.6 AUTHOR DETAILS

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

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

Secondary Research

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

Primary Research

Extensive primary research was conducted after acquiring an understanding of the farm equipment market scenario through secondary research. Several primary interviews were conducted with market experts from farm equipment providers, component/system providers, and end-user organizations across three major regions, namely, North America, Europe, and Asia Oceania. 100% of the primary interviews were conducted from the farm equipment providers and component/system providers. Primary data was collected through questionnaires, emails, and telephonic interviews. Various departments within organizations, including sales, operations, and administrations, were contacted to provide a holistic viewpoint in the report while canvassing primaries.

After interacting with industry participants, some brief sessions were conducted with experienced independent consultants to reinforce the findings from the primaries. This, along with the opinions of in-house subject matter experts, led to the findings delineated in the rest of this report.

Farm Equipment Market Size, and Share

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

Market Size Estimation

A detailed market estimation approach was followed to estimate and validate the value and volume of the farm equipment  market and other dependent submarkets, as mentioned below:

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

Farm Equipment  Market Size: Bottom-Up Approach

Farm Equipment Market Size, and Bottom-up Approach

Farm Equipment  Market Size: Top-Down Approach

Farm Equipment Market Size, and Top-Down Approach

Report Objectives

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

Available customizations

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

Farm Equipment Market, by Application country

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

Farm Equipment Market, by Type & country

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

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

Farm Equipment Market Size,  Share & Growth Report
Report Code
AT 2835
Published ON
Jan, 2022
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