The production of large and medium tractors in China saw significant fluctuations over the past decade. The peak in production was observed in 2015 at 68.82 ten thousand units, followed by a sharp decline in 2017 to 34.44 ten thousand units. Post-2017, recovery was slow, reaching 42.97 ten thousand units in 2023. Between 2022 and 2023, there was a modest year-on-year increase of 2.09%, with a CAGR of 10.39% over the last five years.

The forecasted growth from 2024 to 2028 indicates a gradual increase in production, expected to reach 46.87 ten thousand units by 2028. The anticipated 5-year CAGR is 1.35%, reflecting a steady, albeit slow, growth trajectory.

Future trends to watch for:

Technological advancements in tractor manufacturing
Potential government subsidies and policy changes impacting agricultural machinery
Shifts in domestic and global agricultural demand