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Farm Tractor Market by, Drive Type, Combines Market, Implements Market - Forecast to 2022

Farm Tractor Market: Forecast until 2022

  • June 2017
  • 195 pages
  • ID: 4960851
In this report:
THE GLOBAL AGRICULTURAL EQUIPMENT MARKET IS ESTIMATED TO BE USD ##.## BILLION IN 2017 AND PROJECTED TO GROW AT A CAGR OF ##.##% FROM 2017 - 2022, TO REACH USD ##.## BILLION BY 2022 THE AGRICULTURE TRACTORS MARKET IS ESTIMATED TO GROW AT A CAGR OF ##.##% FROM 2017 TO 2022, PROJECTED TO REACH USD ##.## BILLION BY 2022 FROM USD ##.## BILLION IN 2017 FACTORS SUCH AS INCREASING MECHANIZATION LEVEL IN AGRICULTURE INDUSTRY, SCARCITY OF SKILLED LABOR AND RISING LABOR COST, GOVERNMENT SUBSIDIES, GROWING NEED FOR OPERATIONAL EFFICIENCY AND PROFITABILITY ARE EXPECTED TO FUEL THE MARKET DURING THE FORECAST PERIOD TECHNOLOGICAL ADVANCEMENTS IN THE FIELD OF AGRICULTURAL EQUIPMENT BY USING TELEMATICS AND GPS TECHNOLOGIES LIKELY TO CREATE PROMISING OPPORTUNITIES FOR THIS MARKET.

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The raised demand for food products, farm efficiency, and yield at minimal cost are anticipated to fuel the industry demand for the agricultural equipment market"

The Farm Tractors Market is projected to extend a market size of USD 65.57 Billion by 2022, at a compound annual growth rate of ~5.2 percent during the forecast period & Agricultural Equipment Market is expected to rise at a compound annual growth rate (CAGR) of 5.31% during the forecast horizon, to attain a market size of ~$139.4B by 2022. Increasing overall population, rised mechanization owing to shortage of skilled labor and growing labor wages, and rising government supports/subsidies and other financial aids are the top drivers for the agricultural equipment market. On the other hand, the high cost of machinery, increasing presence of unorganized actors for small equipment, and growing demand for used or rental equipment are some of the main restraints that could influence the increase of this market.

"Four-wheel drive farm tractors market is expected to grow at the quickest rate during the upcoming five years"

The four-wheel drive farm tractors segment is attesting significant increase in the farm tractors market. The main driving factors for this industry segment are the increased use of high powered farm tractors in regions including Europe owing to considerably big agricultural land and changing farmers' investment capabilities. The all-wheel drive farm tractors offer better traction, power, maneuverability, and performance as distinguished to two-wheel drive farm tractors.

On top of, as four-wheel drive farm tractors have better pulling capacity than conventional two-wheel drive farm tractors, they are the better option for pulling larger load implements. With the growth in mechanization and use of implements in the agriculture sector, the sector demand for four-wheel drive farm tractors is expected to grow in the upcoming future. According to Agrievolution report published in 2015, out of the total tractor sales in Germany (DE), every fifth tractor is a high power tractor.

"Combines market for wheat crop is projected to have the largest part of market share"

With more significant production and consumption of wheat in the worldwide market, the combines market for wheat is projected to have the biggest market share during the outlook period. As per the statistics of the United States Department of Agriculture, the overall wheat crop production recorded for approximately 30.0 percent of all types of grains during 2016-2017. Such high demand for wheat at the overall level would require these combines to expedite the whole process. Therefore, the market demand for wheat is forecasted to dominate the industry in the next years, which would further propel the rise of the combines market for the wheat crop.

"Oceania/Asia: Largest and quickest-increasing market between 2017 and 2022"

The Asia-Oceania market is forecasted to dominate the overall market for agricultural equipment and is expected to grow at the more important Compound annual growth rate of ~6.0 percent during the forecast period. The increase of the Asia-Oceania market can be accredited to increasing population, noticeable government initiatives at the country level, and shift toward modern agricultural practices to meet the industry demand for food. According to the United Nations Department of Economic and Social Affairs report, China (CN) and India (IN) helped 19.0 percent and 18.0 percent to the overall population, respectively while global Asia accounted for around 59.0 percent of the overall population in 2015. As per UNDESA, India (IN) is anticipated to surpass China (CN) and will become the biggest country by 2022. On top of, considering the small hectare of agricultural land per farmer, the farmers are under immense pressure to cope with the raised demand for food. There is a substantial need to improve the productivity of available land that has resulted in the quick increase of mechanization level. All these factors are forecast to steer the market of agriculture equipment in this area.

Key players' distribution profiles:

The report includes business insights specified by different market experts, ranging from component suppliers to Tier-1 firms and Original equipment manufacturers. The break-up of the primaries is like:

- By Company category: OEM - 73.0 percent, Tier-1-27 %

- By Description: C-suite - 57.0 percent, D-suite - 34.0 percent, Others - 9.0 percent

- By area: North america (NA) - 42.0 percent, Europe - 33.0 percent, and Asia-Oceania - 25.0 percent

Segment Research

- The primary objective of the study is to define, describe, and forecast the agriculture equipment market established on farm tractors by power output (<30 hp, 31-100 hp, 101-200 hp and >200 hp), drive type (two-wheel drive and four-wheel drive), autonomous tractors, optimistic, and pessimistic), combines by application (corn, rice, soybean, wheat, and others), implements by function (harvesting, haying, planting & fertilizing, plowing & cultivating, spraying, and others), and area.

- The analysis examines the alternatives provided by different segments of the market to stakeholders.

- The market research examines the regional sectors for increase trends, prospects, and their contribution to the global market.

- The industry report also tracks and analyzes competitive developments including new product launches, business developments, joint ventures (JV), acquisitions, and other industry activities carried out by top industry participants.

- The study also tracks and analyzes the vendor DIVE (Dynamic, Innovator, Vanguard, & Emerging) matrix for top players in the agricultural equipment market.

Reasons for buying the report:

- The analysis contains An in-depth study of the agriculture equipment market established on farm tractors, combines, and implements and the advanced technologies including autonomous tractors.

- The market research offers qualitative and quantitative analysis of each segment, which is represented in terms of quantity and value.

- The top fifteen firms that have a significant impact in the sector are profiled along with their financial structure, recent evolutions, and product portfolio.

- The market research includes the competitive landscape and Dive review, which reflects the market ranking of the leading actors together with the dominant strategy approved by these stakeholders to retain their leading position.

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