Agricultural tractor market: Growth opportunities led by Argo Tractors Spa, Caterpillar Inc, CLAAS KGaA mBH – Technavio

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NEW YORK, Feb. 3, 2023 /PRNewswire/ — The agricultural tractor market size is forecast to increase by 311.23 thousand units from 2022 to 2027, at a CAGR of 3.73%, according to the recent market study by Technavio. The report includes historic market data from 2017 to 2021. In 2017, the market was valued at 1441.15 thousand units.  The growth of the market will be driven by government support to promote growth in the agriculture sector, investments in research and development activities, and the introduction of driverless agricultural tractors – Download the sample report

Technavio has announced its latest market research report titled Global Agricultural Tractor Market 2023-2027

The market is segmented by product (two-wheel drive and all-wheel drive), and engine capacity (low power, mid power, and high power).

Segmentation by product (two-wheel drive and all-wheel drive)

  • Two-wheel drive: The two-wheel drive segment registered a growth of 1,144.58 thousand units in 2017 and continued to grow until 2021Two-wheel drive tractors offer several advantages over four-wheel drive tractors. Farmers increasingly prefer two-wheel drive tractors as they can manage diverse farm activities. For example, as the turning circles of these machines are comparatively bigger, they are most suitable for performing farming operations in large areas.  Two-wheel drive tractors are available in gas or diesel variants with electric start functionality.  As they are completely gear driven, the maintenance costs and operational expenses are lower than four-wheel drive tractors. This makes two-wheel drive tractors popular among backyard hobby farmers or home gardeners who operate small-scale agricultural practices in their backyards. Therefore, the above-mentioned factors will boost segment growth during the forecast period.

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Technavio has extensively analyzed 15 major vendors, including AGCO Corp., Argo Tractors Spa, Caterpillar Inc., CLAAS KGaA mBH, CNH Industrial NV, Daedong Corp., Deere and Co., Escorts Ltd., ISEKI and Co. Ltd., J C Bamford Excavators Ltd., Jiangsu Yueda Intelligent Agricultural Equipment Co. Ltd., Kubota Corp., Mahindra and Mahindra Ltd., Mitsubishi Heavy Industries Ltd., Pronar Ltd., SDF SpA, Tractors and Farm Equipment Ltd., Yanmar Holdings Co. Ltd., and Zetor Tractors AS

Key Benefits for Industry Players & Stakeholders – 

  • The report offers information on the criticality of vendor inputs, including R&D, CAPEX, and technology.
  • It also provides detailed analyses of the market’s competitive landscape and vendors’ product offerings.
  • The report also provides a qualitative and quantitative analysis of vendors to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.

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Customer Landscape – Analysis of Price Sensitivity, Adoption Lifecycle, Customer Purchase Basket, Adoption Rates, and Purchase Criteria by Technavio

  • One of the core components of the customer landscape is price sensitivity, an analysis of which will help companies refine marketing strategies to gain a competitive advantage. 
  • Another key aspect is price sensitivity drivers (purchases are undifferentiated, the purchase is a key cost to buyers, and quality is not important), which range between LOW and HIGH.
  • Furthermore, market adoption rates for all regions have been covered.

Get a holistic overview of the agricultural tractor market by industry experts to evaluate

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What are the key data covered in this agricultural tractor market report?

  • CAGR of the market during the forecast period
  • Detailed information on factors that will drive the growth of the agricultural tractor market between 2023 and 2027
  • Precise estimation of the size of the agricultural tractor market and its contribution to the parent market
  • Accurate predictions about upcoming trends and changes in consumer behavior
  • Growth of the agricultural tractor market across APAC, Europe, North America, Middle East and Africa, and South America
  • A thorough analysis of the market’s competitive landscape and detailed information about vendors
  • Comprehensive analysis of factors that will challenge the growth of agricultural tractor market vendors

Agricultural Tractor Market Scope

Report Coverage

Details

Page number

172

Base year

2022

Historic period

2017-2021

Forecast period

2023-2027

Growth momentum & CAGR

Accelerate at a CAGR of 3.73%

Market growth 2023-2027

311.23 th units

Market structure

Fragmented

YoY growth 2022-2023 (%)

2.37

Regional analysis

APAC, Europe, North America, Middle East and Africa, and South America

Performing market contribution

APAC at 71%

Key countries

US, Turkey, India, China, and Brazil

Competitive landscape

Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks

Key companies profiled

AGCO Corp., Argo Tractors Spa, Caterpillar Inc., CLAAS KGaA mBH, CNH Industrial NV, Daedong Corp., Deere and Co., Escorts Ltd., ISEKI and Co. Ltd., J C Bamford Excavators Ltd., Jiangsu Yueda Intelligent Agricultural Equipment Co. Ltd., Kubota Corp., Mahindra and Mahindra Ltd., Mitsubishi Heavy Industries Ltd., Pronar Ltd., SDF SpA, Tractors and Farm Equipment Ltd., Yanmar Holdings Co. Ltd., and Zetor Tractors AS

Market dynamics

Parent Market Analysis; Market growth inducers and obstacles; Fast-growing and slow-growing segment analysis for the forecast period

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

Browse for Technavio “Industrials” Research Reports

Table of Contents

1 Executive Summary

  • 1.1 Market overview 
    • Exhibit 01: Executive Summary – Chart on Market Overview
    • Exhibit 02: Executive Summary – Data Table on Market Overview
    • Exhibit 03: Executive Summary – Chart on Global Market Characteristics
    • Exhibit 04: Executive Summary – Chart on Market by Geography
    • Exhibit 05: Executive Summary – Chart on Market Segmentation by Product
    • Exhibit 06: Executive Summary – Chart on Market Segmentation by Engine Capacity
    • Exhibit 07: Executive Summary – Chart on Incremental Growth
    • Exhibit 08: Executive Summary – Data Table on Incremental Growth
    • Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

  • 2.1 Market ecosystem 
    • Exhibit 10: Parent market
    • Exhibit 11: Market Characteristics

3 Market Sizing

  • 3.1 Market definition 
    • Exhibit 12: Offerings of vendors included in the market definition
  • 3.2 Market segment analysis 
    • Exhibit 13: Market segments
  • 3.3 Market size 2022
  • 3.4 Market outlook: Forecast for 2022-2027 
    • Exhibit 14: Chart on Global – Market size and forecast 2022-2027 (thousand units)
    • Exhibit 15: Data Table on Global – Market size and forecast 2022-2027 (thousand units)
    • Exhibit 16: Chart on Global Market- Year-over-year growth 2022-2027 (%)
    • Exhibit 17: Data Table on Global Market- Year-over-year growth 2022-2027 (%)

4 Historic Market Size

  • 4.1 Global agricultural tractor market 2017 – 2021
    • Exhibit 18: Historic Market Size – Data Table on Global agricultural tractor market 2017 – 2021 (thousand units)
  • 4.2 By Product Segment Analysis 2017 – 2021
    • Exhibit 19: Historic Market Size – By Product Segment 2017 – 2021 (thousand units)
  • 4.3 By Engine capacity Segment Analysis 2017 – 2021
    • Exhibit 20: Historic Market Size – By Engine capacity Segment 2017 – 2021 (thousand units)
  • 4.4 Geography Segment Analysis 2017 – 2021 
    • Exhibit 21: Historic Market Size – Geography Segment 2017 – 2021 (thousand units)
  • 4.5 Country Segment Analysis 2017 – 2021 
    • Exhibit 22: Historic Market Size – Country Segment 2017 – 2021 (thousand units)

5 Five Forces Analysis

  • 5.1 Five forces summary 
    • Exhibit 23: Five forces analysis – Comparison between 2022 and 2027
  • 5.2 Bargaining power of buyers 
    • Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027
  • 5.3 Bargaining power of suppliers 
    • Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027
  • 5.4 Threat of new entrants 
    • Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027
  • 5.5 Threat of substitutes 
    • Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027
  • 5.6 Threat of rivalry 
    • Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027
  • 5.7 Market condition 
    • Exhibit 29: Chart on Market condition – Five forces 2022 and 2027

6 Market Segmentation by Product

  • 6.1 Market segments 
    • Exhibit 30: Chart on Product – Market share 2022-2027 (%)
    • Exhibit 31: Data Table on Product – Market share 2022-2027 (%)
  • 6.2 Comparison by Product 
    • Exhibit 32: Chart on Comparison by Product
    • Exhibit 33: Data Table on Comparison by Product
  • 6.3 Two-wheel drive – Market size and forecast 2022-2027
    • Exhibit 34: Chart on Two-wheel drive – Market size and forecast 2022-2027 (thousand units)
    • Exhibit 35: Data Table on Two-wheel drive – Market size and forecast 2022-2027 (thousand units)
    • Exhibit 36: Chart on Two-wheel drive – Year-over-year growth 2022-2027 (%)
    • Exhibit 37: Data Table on Two-wheel drive – Year-over-year growth 2022-2027 (%)
  • 6.4 All-wheel drive – Market size and forecast 2022-2027
    • Exhibit 38: Chart on All-wheel drive – Market size and forecast 2022-2027 (thousand units)
    • Exhibit 39: Data Table on All-wheel drive – Market size and forecast 2022-2027 (thousand units)
    • Exhibit 40: Chart on All-wheel drive – Year-over-year growth 2022-2027 (%)
    • Exhibit 41: Data Table on All-wheel drive – Year-over-year growth 2022-2027 (%)
  • 6.5 Market opportunity by Product 
    • Exhibit 42: Market opportunity by Product (thousand units)

7 Market Segmentation by Engine Capacity

  • 7.1 Market segments 
    • Exhibit 43: Chart on Engine Capacity – Market share 2022-2027 (%)
    • Exhibit 44: Data Table on Engine Capacity – Market share 2022-2027 (%)
  • 7.2 Comparison by Engine Capacity 
    • Exhibit 45: Chart on Comparison by Engine Capacity
    • Exhibit 46: Data Table on Comparison by Engine Capacity
  • 7.3 Low power – Market size and forecast 2022-2027
    • Exhibit 47: Chart on Low power – Market size and forecast 2022-2027 (thousand units)
    • Exhibit 48: Data Table on Low power – Market size and forecast 2022-2027 (thousand units)
    • Exhibit 49: Chart on Low power – Year-over-year growth 2022-2027 (%)
    • Exhibit 50: Data Table on Low power – Year-over-year growth 2022-2027 (%)
  • 7.4 Mid power – Market size and forecast 2022-2027
    • Exhibit 51: Chart on Mid power – Market size and forecast 2022-2027 (thousand units)
    • Exhibit 52: Data Table on Mid power – Market size and forecast 2022-2027 (thousand units)
    • Exhibit 53: Chart on Mid power – Year-over-year growth 2022-2027 (%)
    • Exhibit 54: Data Table on Mid power – Year-over-year growth 2022-2027 (%)
  • 7.5 High power – Market size and forecast 2022-2027
    • Exhibit 55: Chart on High power – Market size and forecast 2022-2027 (thousand units)
    • Exhibit 56: Data Table on High power – Market size and forecast 2022-2027 (thousand units)
    • Exhibit 57: Chart on High power – Year-over-year growth 2022-2027 (%)
    • Exhibit 58: Data Table on High power – Year-over-year growth 2022-2027 (%)
  • 7.6 Market opportunity by Engine Capacity 
    • Exhibit 59: Market opportunity by Engine Capacity (thousand units)

8 Customer Landscape

  • 8.1 Customer landscape overview 
    • Exhibit 60: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

  • 9.1 Geographic segmentation 
    • Exhibit 61: Chart on Market share by geography 2022-2027 (%)
    • Exhibit 62: Data Table on Market share by geography 2022-2027 (%)
  • 9.2 Geographic comparison 
    • Exhibit 63: Chart on Geographic comparison
    • Exhibit 64: Data Table on Geographic comparison
  • 9.3 APAC – Market size and forecast 2022-2027
    • Exhibit 65: Chart on APAC – Market size and forecast 2022-2027 (thousand units)
    • Exhibit 66: Data Table on APAC – Market size and forecast 2022-2027 (thousand units)
    • Exhibit 67: Chart on APAC – Year-over-year growth 2022-2027 (%)
    • Exhibit 68: Data Table on APAC – Year-over-year growth 2022-2027 (%)
  • 9.4 Europe – Market size and forecast 2022-2027
    • Exhibit 69: Chart on Europe – Market size and forecast 2022-2027 (thousand units)
    • Exhibit 70: Data Table on Europe – Market size and forecast 2022-2027 (thousand units)
    • Exhibit 71: Chart on Europe – Year-over-year growth 2022-2027 (%)
    • Exhibit 72: Data Table on Europe – Year-over-year growth 2022-2027 (%)
  • 9.5 North America – Market size and forecast 2022-2027
    • Exhibit 73: Chart on North America – Market size and forecast 2022-2027 (thousand units)
    • Exhibit 74: Data Table on North America – Market size and forecast 2022-2027 (thousand units)
    • Exhibit 75: Chart on North America – Year-over-year growth 2022-2027 (%)
    • Exhibit 76: Data Table on North America – Year-over-year growth 2022-2027 (%)
  • 9.6 Middle East and Africa – Market size and forecast 2022-2027 
    • Exhibit 77: Chart on Middle East and Africa – Market size and forecast 2022-2027 (thousand units)
    • Exhibit 78: Data Table on Middle East and Africa – Market size and forecast 2022-2027 (thousand units)
    • Exhibit 79: Chart on Middle East and Africa – Year-over-year growth 2022-2027 (%)
    • Exhibit 80: Data Table on Middle East and Africa – Year-over-year growth 2022-2027 (%)
  • 9.7 South America – Market size and forecast 2022-2027
    • Exhibit 81: Chart on South America – Market size and forecast 2022-2027 (thousand units)
    • Exhibit 82: Data Table on South America – Market size and forecast 2022-2027 (thousand units)
    • Exhibit 83: Chart on South America – Year-over-year growth 2022-2027 (%)
    • Exhibit 84: Data Table on South America – Year-over-year growth 2022-2027 (%)
  • 9.8 India – Market size and forecast 2022-2027
    • Exhibit 85: Chart on India – Market size and forecast 2022-2027 (thousand units)
    • Exhibit 86: Data Table on India – Market size and forecast 2022-2027 (thousand units)
    • Exhibit 87: Chart on India – Year-over-year growth 2022-2027 (%)
    • Exhibit 88: Data Table on India – Year-over-year growth 2022-2027 (%)
  • 9.9 China – Market size and forecast 2022-2027
    • Exhibit 89: Chart on China – Market size and forecast 2022-2027 (thousand units)
    • Exhibit 90: Data Table on China – Market size and forecast 2022-2027 (thousand units)
    • Exhibit 91: Chart on China – Year-over-year growth 2022-2027 (%)
    • Exhibit 92: Data Table on China – Year-over-year growth 2022-2027 (%)
  • 9.10 US – Market size and forecast 2022-2027
    • Exhibit 93: Chart on US – Market size and forecast 2022-2027 (thousand units)
    • Exhibit 94: Data Table on US – Market size and forecast 2022-2027 (thousand units)
    • Exhibit 95: Chart on US – Year-over-year growth 2022-2027 (%)
    • Exhibit 96: Data Table on US – Year-over-year growth 2022-2027 (%)
  • 9.11 Brazil – Market size and forecast 2022-2027
    • Exhibit 97: Chart on Brazil – Market size and forecast 2022-2027 (thousand units)
    • Exhibit 98: Data Table on Brazil – Market size and forecast 2022-2027 (thousand units)
    • Exhibit 99: Chart on Brazil – Year-over-year growth 2022-2027 (%)
    • Exhibit 100: Data Table on Brazil – Year-over-year growth 2022-2027 (%)
  • 9.12 Turkey – Market size and forecast 2022-2027
    • Exhibit 101: Chart on Turkey – Market size and forecast 2022-2027 (thousand units)
    • Exhibit 102: Data Table on Turkey – Market size and forecast 2022-2027 (thousand units)
    • Exhibit 103: Chart on Turkey – Year-over-year growth 2022-2027 (%)
    • Exhibit 104: Data Table on Turkey – Year-over-year growth 2022-2027 (%)
  • 9.13 Market opportunity by geography 
    • Exhibit 105: Market opportunity by geography (thousand units)

10 Drivers, Challenges, and Trends

  • 10.1 Market drivers
  • 10.2 Market challenges
  • 10.3 Impact of drivers and challenges 
    • Exhibit 106: Impact of drivers and challenges in 2022 and 2027
  • 10.4 Market trends

11 Vendor Landscape

  • 11.1 Overview
  • 11.2 Vendor landscape 
    • Exhibit 107: Overview on Criticality of inputs and Factors of differentiation
  • 11.3 Landscape disruption 
    • Exhibit 108: Overview on factors of disruption
  • 11.4 Industry risks 
    • Exhibit 109: Impact of key risks on business

12 Vendor Analysis

  • 12.1 Vendors covered 
    • Exhibit 110: Vendors covered
  • 12.2 Market positioning of vendors 
    • Exhibit 111: Matrix on vendor position and classification
  • 12.3 AGCO Corp. 
    • Exhibit 112: AGCO Corp. – Overview
    • Exhibit 113: AGCO Corp. – Business segments
    • Exhibit 114: AGCO Corp. – Key news
    • Exhibit 115: AGCO Corp. – Key offerings
    • Exhibit 116: AGCO Corp. – Segment focus
  • 12.4 Argo Tractors Spa 
    • Exhibit 117: Argo Tractors Spa – Overview
    • Exhibit 118: Argo Tractors Spa – Product / Service
    • Exhibit 119: Argo Tractors Spa – Key offerings
  • 12.5 CLAAS KGaA mBH 
    • Exhibit 120: CLAAS KGaA mBH – Overview
    • Exhibit 121: CLAAS KGaA mBH – Product / Service
    • Exhibit 122: CLAAS KGaA mBH – Key news
    • Exhibit 123: CLAAS KGaA mBH – Key offerings
  • 12.6 CNH Industrial NV 
    • Exhibit 124: CNH Industrial NV – Overview
    • Exhibit 125: CNH Industrial NV – Business segments
    • Exhibit 126: CNH Industrial NV – Key news
    • Exhibit 127: CNH Industrial NV – Key offerings
    • Exhibit 128: CNH Industrial NV – Segment focus
  • 12.7 Daedong Corp. 
    • Exhibit 129: Daedong Corp. – Overview
    • Exhibit 130: Daedong Corp. – Product / Service
    • Exhibit 131: Daedong Corp. – Key offerings
  • 12.8 Deere and Co. 
    • Exhibit 132: Deere and Co. – Overview
    • Exhibit 133: Deere and Co. – Business segments
    • Exhibit 134: Deere and Co. – Key news
    • Exhibit 135: Deere and Co. – Key offerings
    • Exhibit 136: Deere and Co. – Segment focus
  • 12.9 Escorts Ltd. 
    • Exhibit 137: Escorts Ltd. – Overview
    • Exhibit 138: Escorts Ltd. – Business segments
    • Exhibit 139: Escorts Ltd. – Key offerings
    • Exhibit 140: Escorts Ltd. – Segment focus
  • 12.10 ISEKI and Co. Ltd. 
    • Exhibit 141: ISEKI and Co. Ltd. – Overview
    • Exhibit 142: ISEKI and Co. Ltd. – Product / Service
    • Exhibit 143: ISEKI and Co. Ltd. – Key offerings
  • 12.11 J C Bamford Excavators Ltd. 
    • Exhibit 144: J C Bamford Excavators Ltd. – Overview
    • Exhibit 145: J C Bamford Excavators Ltd. – Product / Service
    • Exhibit 146: J C Bamford Excavators Ltd. – Key offerings
  • 12.12 Jiangsu Yueda Intelligent Agricultural Equipment Co. Ltd. 
    • Exhibit 147: Jiangsu Yueda Intelligent Agricultural Equipment Co. Ltd. – Overview
    • Exhibit 148: Jiangsu Yueda Intelligent Agricultural Equipment Co. Ltd. – Product / Service
    • Exhibit 149: Jiangsu Yueda Intelligent Agricultural Equipment Co. Ltd. – Key offerings
  • 12.13 Kubota Corp. 
    • Exhibit 150: Kubota Corp. – Overview
    • Exhibit 151: Kubota Corp. – Business segments
    • Exhibit 152: Kubota Corp. – Key news
    • Exhibit 153: Kubota Corp. – Key offerings
    • Exhibit 154: Kubota Corp. – Segment focus
  • 12.14 Mahindra and Mahindra Ltd. 
    • Exhibit 155: Mahindra and Mahindra Ltd. – Overview
    • Exhibit 156: Mahindra and Mahindra Ltd. – Business segments
    • Exhibit 157: Mahindra and Mahindra Ltd. – Key news
    • Exhibit 158: Mahindra and Mahindra Ltd. – Key offerings
    • Exhibit 159: Mahindra and Mahindra Ltd. – Segment focus
  • 12.15 Mitsubishi Heavy Industries Ltd. 
    • Exhibit 160: Mitsubishi Heavy Industries Ltd. – Overview
    • Exhibit 161: Mitsubishi Heavy Industries Ltd. – Business segments
    • Exhibit 162: Mitsubishi Heavy Industries Ltd. – Key news
    • Exhibit 163: Mitsubishi Heavy Industries Ltd. – Key offerings
    • Exhibit 164: Mitsubishi Heavy Industries Ltd. – Segment focus
  • 12.16 Tractors and Farm Equipment Ltd. 
    • Exhibit 165: Tractors and Farm Equipment Ltd. – Overview
    • Exhibit 166: Tractors and Farm Equipment Ltd. – Product / Service
    • Exhibit 167: Tractors and Farm Equipment Ltd. – Key offerings
  • 12.17 Yanmar Holdings Co. Ltd. 
    • Exhibit 168: Yanmar Holdings Co. Ltd. – Overview
    • Exhibit 169: Yanmar Holdings Co. Ltd. – Product / Service
    • Exhibit 170: Yanmar Holdings Co. Ltd. – Key news
    • Exhibit 171: Yanmar Holdings Co. Ltd. – Key offerings

13 Appendix

  • 13.1 Scope of the report
  • 13.2 Inclusions and exclusions checklist 
    • Exhibit 172: Inclusions checklist
    • Exhibit 173: Exclusions checklist
  • 13.3 Currency conversion rates for US$ 
    • Exhibit 174: Currency conversion rates for US$
  • 13.4 Research methodology 
    • Exhibit 175: Research methodology
    • Exhibit 176: Validation techniques employed for market sizing
    • Exhibit 177: Information sources
  • 13.5 List of abbreviations 
    • Exhibit 178: List of abbreviations

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Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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Global Agricultural Tractor Market 2023-2027

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