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Global Tractor Market 2026

Increasing mechanization in agriculture and growing popularity of bank financing facilities are expected to lead to the growth of tractors all over the globe in the forecast period.https://bit.ly/3tGrSg5

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Global Tractor Market 2026

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  1. 2016 – 2026 GLOBAL TRACTOR MARKET FORECAST & OPPORTUNITIES www.techsciresearch.com MARKET INTELLIGENCE . CONSULTING

  2. Scope of Report Type of Interest (POI): Tractor A tractor is referred to tractor head which has a heavy duty towing engine designed to transport cargo. A tractor head vary in size, power, and configuration and are majorly powered by diesel engines, followed by gasoline, CNG, Electric & hybrid engines. Market Segmentation TRACTOR MARKET TRACTOR MARKET POWER OUTPUT DRIVE TYPE Year Range Under 40 HP • 2-Wheel Drive • 40 HP & Under 100 HP • 4-Wheel Drive • Review Period 100 HP & Above • 2016 – 2019 REGION APPLICATION Base Year North America Agriculture • • 2020 Europe Non-Agriculture • • Asia-Pacific • Estimated Year South America • 2021 Middle East & Africa • Forecast Period 2022 – 2026 2

  3. Ta b l e o f C o n te n t s Table of Contents S. No. Contents Page No. 1. Product Overview (Definition of product and major terminologies used in the report) Research Methodology (Detailed description of the methodology used to conduct the research, Raw data backup, list of all secondary sources, List of respondents for primary surveys) 2. 3. Executive Summary (This chapter covers summary of the complete study.) 4. Voice of Customer 4.1. Factors Influencing Purchase Decision 4.2. Influencer of Purchase 4.3. Unaided/Aided Brand Recall 4.4. Brand Satisfaction Level Global Tractor Market Outlook, 2016-2026F (This chapter includes a brief overview of the product of interest market such as total market’s growth rate, expected growth rate, key growth levers, leading region, top grossing product types, etc. It includes more of a qualitative information about the market.) 5. 5.1. Market Size & Forecast 5.1.1. By Value & Volume 5.2. Market Share & Forecast 5.2.1. By Power Output (Under 40 HP, 40 HP & Under 100 HP and 100 HP & Above) 5.2.2. By Drive Type (2-Wheel Drive & 4-Wheel Drive) 5.2.3. By Application (Agriculture & Non-Agriculture) 5.2.4. By Company 5.2.5. By Region 5.3. Product Market Map(By Drive Type) 3

  4. Ta b l e o f C o n te n t s Table of Contents S. No. Contents Page No. 6. Asia-Pacific Tractor Market Outlook 6.1. Market Size & Forecast 6.1.1. By Value & Volume 6.2. Market Share & Forecast 6.2.1. By Power Output (Under 40 HP, 40 HP & Under 100 HP and 100 HP & Above) By Drive Type (2-Wheel Drive & 4-Wheel Drive) 6.2.2. 6.2.3. By Application (Agriculture & Non-Agriculture) By Country 6.2.4. 6.3. Product Market Map(By Drive Type) 6.4. Asia-Pacific: Country Analysis India Tractor Market Outlook 6.4.1. Market Size & Forecast 6.4.1.1. 6.4.1.1.1. By Value & Volume Market Share & Forecast 6.4.1.2. By Power Output (Under 40 HP, 40 HP & Under 100 HP and 100 HP & Above) 6.4.1.2.1. 6.4.1.2.2. By Drive Type (2-Wheel Drive & 4-Wheel Drive) 6.4.1.2.3. By Application (Agriculture & Non-Agriculture) Product Market Map(By Drive Type) 6.4.1.3. 4

  5. Ta b l e o f C o n te n t s Table of Contents S. No. Contents Page No. China Tractor Market Outlook 6.4.2. Market Size & Forecast 6.4.2.1. 6.4.2.1.1. By Value & Volume Market Share & Forecast 6.4.2.2. By Power Output (Under 40 HP, 40 HP & Under 100 HP and 100 HP & Above) 6.4.2.2.1. 6.4.2.2.2. By Drive Type (2-Wheel Drive & 4-Wheel Drive) 6.4.2.2.3. By Application (Agriculture & Non-Agriculture) Product Market Map(By Drive Type) 6.4.2.3. 6.4.3. Japan Tractor Market Outlook 6.4.3.1. Market Size & Forecast 6.4.3.1.1. By Value & Volume 6.4.3.2. Market Share & Forecast By Power Output (Under 40 HP, 40 HP & Under 100 HP and 100 HP & Above) 6.4.3.2.1. 6.4.3.2.2. By Drive Type (2-Wheel Drive & 4-Wheel Drive) 6.4.3.2.3. By Application (Agriculture & Non-Agriculture) 6.4.3.3. Product Market Map(By Drive Type) 5

  6. Ta b l e o f C o n te n t s Table of Contents S. No. Contents Page No. 6.4.4. Australia Tractor Market Outlook 6.4.4.1. Market Size & Forecast 6.4.4.1.1. By Value & Volume 6.4.4.2. Market Share & Forecast By Power Output (Under 40 HP, 40 HP & Under 100 HP and 100 HP & Above) 6.4.4.2.1. 6.4.4.2.2. By Drive Type (2-Wheel Drive & 4-Wheel Drive) 6.4.4.2.3. By Application (Agriculture & Non-Agriculture) 6.4.4.3. Product Market Map(By Drive Type) 7. Europe Tractor Market Outlook 7.1. Market Size & Forecast 7.1.1. By Value & Volume 7.2. Market Share & Forecast 7.2.2. By Drive Type (2-Wheel Drive & 4-Wheel Drive) 7.2.3. By Application (Agriculture & Non-Agriculture) 7.2.4. By Country 7.3. Product Market Map(By Drive Type) 7.4. Europe: Country Analysis 6

  7. Ta b l e o f C o n te n t s Table of Contents S. No. Contents Page No. Turkey Tractor Market Outlook 7.4.1. Market Size & Forecast 7.4.1.1. 7.4.1.1.1. By Value & Volume Market Share & Forecast 7.4.1.2. By Power Output (Under 40 HP, 40 HP & Under 100 HP and 100 HP & Above) 7.4.1.2.1. 7.4.1.2.2. By Drive Type (2-Wheel Drive & 4-Wheel Drive) 7.4.1.2.3. By Application (Agriculture & Non-Agriculture) Product Market Map(By Drive Type) 7.4.1.3. Germany Tractor Market Outlook 7.4.2. Market Size & Forecast 7.4.2.1. 7.4.2.1.1. By Value & Volume Market Share & Forecast 7.4.2.2. By Power Output (Under 40 HP, 40 HP & Under 100 HP and 100 HP & Above) 7.4.2.2.1. 7.4.2.2.2. By Drive Type (2-Wheel Drive & 4-Wheel Drive) 7.4.2.2.3. By Application (Agriculture & Non-Agriculture) Product Market Map(By Drive Type) 7.4.2.3. 7

  8. Ta b l e o f C o n te n t s Table of Contents S. No. Contents Page No. 7.4.3. France Tractor Market Outlook 7.4.3.1. Market Size & Forecast 7.4.3.1.1. By Value & Volume 7.4.3.2. Market Share & Forecast By Power Output (Under 40 HP, 40 HP & Under 100 HP and 100 HP & Above) 7.4.3.2.1. 7.4.3.2.2. By Drive Type (2-Wheel Drive & 4-Wheel Drive) 7.4.3.2.3. By Application (Agriculture & Non-Agriculture) 7.4.3.3. Product Market Map(By Drive Type) 7.4.4. Italy Tractor Market Outlook 7.4.4.1. Market Size & Forecast 7.4.4.1.1. By Value & Volume 7.4.4.2. Market Share & Forecast By Power Output (Under 40 HP, 40 HP & Under 100 HP and 100 HP & Above) 7.4.4.2.1. 7.4.4.2.2. By Drive Type (2-Wheel Drive & 4-Wheel Drive) 7.4.4.2.3. By Application (Agriculture & Non-Agriculture) 7.4.4.3. Product Market Map(By Drive Type) 8

  9. Ta b l e o f C o n te n t s Table of Contents S. No. Contents Page No. 7.4.5. United Kingdom Tractor Market Outlook 7.4.5.1. Market Size & Forecast 7.4.5.1.1. By Value & Volume 7.4.5.2. Market Share & Forecast By Power Output (Under 40 HP, 40 HP & Under 100 HP and 100 HP & Above) 7.4.5.2.1. 7.4.5.2.2. By Drive Type (2-Wheel Drive & 4-Wheel Drive) 7.4.5.2.3. By Application (Agriculture & Non-Agriculture) 7.4.5.3. Product Market Map(By Drive Type) 7.4.6. Spain Tractor Market Outlook 7.4.6.1. Market Size & Forecast 7.4.6.1.1. By Value & Volume 7.4.6.2. Market Share & Forecast By Power Output (Under 40 HP, 40 HP & Under 100 HP and 100 HP & Above) 7.4.6.2.1. 7.4.6.2.2. By Drive Type (2-Wheel Drive & 4-Wheel Drive) 7.4.6.2.3. By Application (Agriculture & Non-Agriculture) 7.4.6.3. Product Market Map(By Drive Type) 9

  10. Ta b l e o f C o n te n t s Table of Contents S. No. Contents Page No. 7.4.7. Portugal Tractor Market Outlook 7.4.7.1. Market Size & Forecast 7.4.7.1.1. By Value & Volume 7.4.7.2. Market Share & Forecast By Power Output (Under 40 HP, 40 HP & Under 100 HP and 100 HP & Above) 7.4.7.2.1. 7.4.7.2.2. By Drive Type (2-Wheel Drive & 4-Wheel Drive) 7.4.7.2.3. By Application (Agriculture & Non-Agriculture) 7.4.7.3. Product Market Map(By Drive Type) 7.4.8. Belgium Tractor Market Outlook 7.4.8.1. Market Size & Forecast 7.4.8.1.1. By Value & Volume 7.4.8.2. Market Share & Forecast By Power Output (Under 40 HP, 40 HP & Under 100 HP and 100 HP & Above) 7.4.8.2.1. 7.4.8.2.2. By Drive Type (2-Wheel Drive & 4-Wheel Drive) 7.4.8.2.3. By Application (Agriculture & Non-Agriculture) 7.4.8.3. Product Market Map(By Drive Type) 10

  11. Ta b l e o f C o n te n t s Table of Contents S. No. Contents Page No. 7.4.9. Austria Tractor Market Outlook 7.4.9.1. Market Size & Forecast 7.4.9.1.1. By Value & Volume 7.4.9.2. Market Share & Forecast By Power Output (Under 40 HP, 40 HP & Under 100 HP and 100 HP & Above) 7.4.9.2.1. 7.4.9.2.2. By Drive Type (2-Wheel Drive & 4-Wheel Drive) 9.4.9.2.3. By Application (Agriculture & Non-Agriculture) 7.4.9.3. Product Market Map(By Drive Type) 8. North America Tractor Market Outlook 8.1. Market Size & Forecast 8.1.1. By Value & Volume 8.2. Market Share & Forecast 8.2.1. By Power Output (Under 40 HP, 40 HP & Under 100 HP and 100 HP & Above) 8.2.2. By Drive Type (2-Wheel Drive & 4-Wheel Drive) 8.2.3. By Application (Agriculture & Non-Agriculture) 8.2.4. By Country 8.3. Product Market Map(By Drive Type) 8.4. Europe: Country Analysis 11

  12. Ta b l e o f C o n te n t s Table of Contents S. No. Contents Page No. 8.4.1. United States Tractor Market Outlook 8.4.1.1. Market Size & Forecast 8.4.1.1.1. By Value & Volume 8.4.1.2. Market Share & Forecast By Power Output (Under 40 HP, 40 HP & Under 100 HP and 100 HP & Above) 8.4.1.2.1. 8.4.1.2.2. By Drive Type (2-Wheel Drive & 4-Wheel Drive) 8.4.1.2.3. By Application (Agriculture & Non-Agriculture) 8.4.1.3. Product Market Map(By Drive Type) 8.4.2. Canada Tractor Market Outlook 8.4.2.1. Market Size & Forecast 8.4.2.1.1. By Value & Volume 8.4.2.2. Market Share & Forecast By Power Output (Under 40 HP, 40 HP & Under 100 HP and 100 HP & Above) 8.4.2.2.1. 8.4.2.2.2. By Drive Type (2-Wheel Drive & 4-Wheel Drive) 8.4.2.2.3. By Application (Agriculture & Non-Agriculture) 8.4.2.3. Product Market Map(By Drive Type) 12

  13. Ta b l e o f C o n te n t s Table of Contents S. No. Contents Page No. 8.4.3. Mexico Tractor Market Outlook 8.4.3.1. Market Size & Forecast 8.4.3.1.1. By Value & Volume 8.4.3.2. Market Share & Forecast By Power Output (Under 40 HP, 40 HP & Under 100 HP and 100 HP & Above) 8.4.3.2.1. 8.4.3.2.2. By Drive Type (2-Wheel Drive & 4-Wheel Drive) 8.4.3.2.3. By Application (Agriculture & Non-Agriculture) 8.4.3.3. Product Market Map(By Drive Type) 9. South America Tractor Market Outlook 9.1. Market Size & Forecast 9.1.1. By Value & Volume 9.2. Market Share & Forecast 9.2.1. By Power Output (Under 40 HP, 40 HP & Under 100 HP and 100 HP & Above) 9.2.2. By Drive Type (2-Wheel Drive & 4-Wheel Drive) 9.2.3. By Application (Agriculture & Non-Agriculture) 9.2.4. By Country 9.3. Product Market Map(By Drive Type) 9.4. South America: Country Analysis 13

  14. Ta b l e o f C o n te n t s Table of Contents S. No. Contents Page No. 9.4.1. Brazil Tractor Market Outlook 9.4.1.1. Market Size & Forecast 9.4.1.1.1. By Value & Volume 9.4.1.2. Market Share & Forecast By Power Output (Under 40 HP, 40 HP & Under 100 HP and 100 HP & Above) 9.4.1.2.1. 9.4.1.2.2. By Drive Type (2-Wheel Drive & 4-Wheel Drive) 9.4.1.2.3. By Application (Agriculture & Non-Agriculture) 9.4.1.3. Product Market Map(By Drive Type) 9.4.2. Argentina Tractor Market Outlook 9.4.2.1. Market Size & Forecast 9.4.2.1.1. By Value & Volume 9.4.2.2. Market Share & Forecast By Power Output (Under 40 HP, 40 HP & Under 100 HP and 100 HP & Above) 9.4.2.2.1. 9.4.2.2.2. By Drive Type (2-Wheel Drive & 4-Wheel Drive) 9.4.2.2.3. By Application (Agriculture & Non-Agriculture) 9.4.2.3. Product Market Map(By Drive Type) 14

  15. Ta b l e o f C o n te n t s Table of Contents S. No. Contents Page No. 10. Middle East & Africa Tractor Market Outlook 10.1. Market Size & Forecast 10.1.1. By Value & Volume 10.2. Market Share & Forecast 10.2.1. By Power Output (Under 40 HP, 40 HP & Under 100 HP and 100 HP & Above) 10.2.2. By Drive Type (2-Wheel Drive & 4-Wheel Drive) 10.2.3. By Application (Agriculture & Non-Agriculture) 10.2.4. By Country 10.3. Product Market Map(By Drive Type) 10.4. Middle East & Africa: Country Analysis 10.4.1. South Africa Tractor Market Outlook 10.4.1.1. Market Size & Forecast 10.4.1.1.1. By Value & Volume 10.4.1.2. Market Share & Forecast By Power Output (Under 40 HP, 40 HP & Under 100 HP and 100 HP & Above) 10.4.1.2.1. 10.4.1.2.2. By Drive Type (2-Wheel Drive & 4-Wheel Drive) 10.4.1.2.3. By Application (Agriculture & Non-Agriculture) 10.4.1.3. Product Market Map(By Drive Type) 15

  16. Ta b l e o f C o n te n t s Table of Contents S. No. Contents Page No. 10.4.2. Kenya Tractor Market Outlook 10.4.2.1. Market Size & Forecast 10.4.2.1.1. By Value & Volume 10.4.2.2. Market Share & Forecast By Power Output (Under 40 HP, 40 HP & Under 100 HP and 100 HP & Above) 10.4.2.2.1. 10.4.2.2.2. By Drive Type (2-Wheel Drive & 4-Wheel Drive) 10.4.2.2.3. By Application (Agriculture & Non-Agriculture) 10.4.2.3. Product Market Map(By Drive Type) 10.4.3. Saudi Arabia Tractor Market Outlook 10.4.3.1. Market Size & Forecast 10.4.3.1.1. By Value & Volume 10.4.3.2. Market Share & Forecast By Power Output (Under 40 HP, 40 HP & Under 100 HP and 100 HP & Above) 10.4.3.2.1. 10.4.3.2.2. By Drive Type (2-Wheel Drive & 4-Wheel Drive) 10.4.3.2.3. By Application (Agriculture & Non-Agriculture) 10.4.3.3. Product Market Map(By Drive Type) 16

  17. Table of Contents S. No. Contents Page No. 11. Impact of COVID-19 on Global Tractor Market 12. Market Dynamics 12.1. Drivers 12.2. Challenges 13. Market Trends & Developments 14. Pricing Analysis 16. Competitive Landscape 14.1. Competition Outlook 14.2. Company Profiles 14.2.1. Company Details 14.2.2. Products & Services 14.2.3. Financials (As Reported) 14.2.4. Key Market Focus & Geographical Presence 14.2.5. Recent Developments 14.2.6. Key Management Personnel 15. Strategic Recommendations 16. About Us & Disclaimer 17

  18. RESEARCH RESEARCH METHODOLOGY METHODOLOGY

  19. Research Methodology Market Profiling Data Analysis Data Data Developing List of Respondents Formulating Questionnaire Collection Validation In-depth secondary research was conducted to determine top players in the global tractor market, overall market size and segmental market size. The data was scrutinized using MS-Excel, statistical tools and internal proprietary database to obtain qualitative and quantitative insights about the global tractor market. Data obtained as a result of primary and secondary research was validated through rigorous triangulation. TechSci conducted interviews with industry experts and industry players for data collection and verification. In order to conduct industry experts’ interviews, TechSci formulated a detailed discussion guide. List of industry players and industry specialists was developed. Primary Research Desk Research Company Analysis ✓ ✓ Recent Developments Market Changing Aspects/Dynamics Government Policies Final Conclusion ✓ ✓ Market Participants Key Strengths ✓ Identifying Key Opinion Leaders Questionnaire Design In-depth Interviews Actionable Insights Data Filter & Analysis Business Solution Research & Intelligence Data Collection ✓ ✓ ✓ ✓ Primary Research Secondary Research Paid Sources LinkedIn TechSci Internal Database Company Websites Company Annual Reports White Paper Study Financial Reports Investor Presentations Regulatory Body Associations, etc. Factiva Hoovers ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ 19

  20. Research Methodology Baseline Methodology Our dedicated team of industry experts has monitored and analyzed various aspects of global tractor market. The team has analyzed the outlook of various segments of this market, while considering the major influencing factors such as surging demand for agricultural products, increasing consumer inclination towards small-sized tractors. The study includes market forecasting, which would enable our clients to take better decisions while planning their strategy to achieve sustainability in global tractor market. Methodology Followed for Calculation of Market Size: Market Size by Value and Volume: Market size, in terms of value and volume, for the year 2020 was calculated based on information • collected through exhaustive secondary research and primary surveys, with various key opinion leaders/stakeholders, such as tractor manufacturer and supplier companies, channel partners, market influencers & end users, industry experts, and other industry participants. The team interviewed more than 15 – 20 tractor manufacturers, supplier and distributor companies, 45 – 50 channel partners, 80 – 100 end • users, and 15 – 20 industry experts and other value chain stakeholders in the global tractor market to obtain the overall market size from 2016 to 2020, which was validated by the Delphi technique. Taking standard deviation into consideration, the market size was averaged out, to arrive at the market size data during 2016-2020. 20

  21. Research Methodology Respondents were asked about the current and future market growth rates, market shares by power output, by drive type, by region and by • company. Removing the outlier responses, the geometric mean of growth estimates and supplier wise revenue shares generated across various segments were considered, to arrive at the final revenue shares. Revenue shares generated across various segments were further triangulated from other stakeholders. Methodology Followed for Calculation of Market Shares: Market shares shares by power output, by drive type, by region and by company were calculated based on the responses received through primary surveys with industry experts, in which the respondents were asked about the market shares or revenue generated from various segments of tractor market. The final shares were calculated by taking the geometric mean of the responses gathered from key opinion leaders after eliminating the outliers. Methodology Followed for Forecasting: TechSci Research performed periodical checks on data collected through the surveys with logic checks and analyzed the survey results in • SPSS/Tableau Software. Data triangulation techniques were applied to fill the gaps and to present a more meaningful picture of the market. To forecast global • tractor market, TechSci Research used various forecast techniques such as: Moving Average ✓ Time Series Analysis ✓ Regression Analysis ✓ Econometric and Judgmental Analysis ✓ 21

  22. Research Methodology TechSci Research used its own forecast tool, which is based on the growth of various allied industries in respective regions. TechSci Research also used the impact analysis during short, medium and long term period to estimate the demand and to reach accurate market numbers. It should be noted that the figures compiled are only for the organized market including market share data. The currency used in the report is the United States Dollar (USD), with the market size indicated in USD million. Partial List of Companies Interviewed Key Secondary Sources ▪ Mahindra & Mahindra Ltd. ▪ World Bank ▪ Deere & Co. (John Deere) ▪ TechSci Research Proprietary Database & Knowledge ▪ Tractors & Farm Equipments Ltd. Repository ▪ Sonalika International Tractors Ltd. ▪ Company Annual Reports ▪ Escorts Ltd. ▪ Industry Magazines ▪ Kubota Corporation ▪ Industry Reports ▪ CNH Industrial N.V. (New Holland) ▪ News Dailies ▪ AGCO Group ▪ Credible Paid Databases ▪ YTO Group (Dongfanghong) ▪ Dongfeng Agricultural Machinery Group Co., Ltd 22

  23. Industry Brief According to TechSci Research report, “Global Tractor Market By Power Output (Under 40 HP, 40 HP - Under 100 HP and 100 HP & Above), By Drive Type (Two-Wheel Drive & Four-Wheel Drive), By Application (Agriculture & Non-Agriculture), By Region, Competition Forecast & Opportunities, 2016-2026F”, the global tractor market is anticipated to grow at a robust growth rate of 4.96% during the forecast period, owing to the booming demand of agriculture products and increasing mechanization in agricultural industry. The global tractor market is expected to reach 2.80 million units till 2026. India, being the largest tractor producer and market in the world, is expected to reach 1.27 million units till 2026. According to the laid-out Union Budget, the Government of India is planning to improve farm productivity and mechanization of agricultural practices, strengthen farmers’ income to ease the purchasing of tractors to sustain the growth in the country. China is the second largest tractor market in the world. According to the National Bureau of Statistics, in 2020, China produced 669.49 million tons of grain which was an increase of 5.65 million as compared to 2019 statistics. In the country, the wheat output also increased by 0.5%, soybean production edged up 8.3%, and rice output grew by 1.1%. All these hiked agricultural domestic as well as export demands have increased the mechanization and utilization of tractors in the field, as a result an increase in tractor demand has been observed. To cope with such increasing agricultural demand of rising population, tractor market is susceptible to withstand a robust growth in the forecast period. The global tractor market is classified on the basis of application type, by power output, by drive type, and by region. Based on application type, the market is segmented into agriculture and non- agricultural purposes. Tractors are designed to perform as all-purpose farming equipment for plowing, tilling, planting, etc. and hence is majorly used for such purposes. On the other hand, due to limited application of tractors in heavy construction, mining, and logistics industries, they hold a small share in non-agricultural purposes but increased usage of tractors in domains such as haulage in light construction and infrastructure projects, will further increase demand of tractors in the forecast period. In terms of engine power output, the tractor market is segmented in three categories. First, rated engines under 40HP, secondly the tractors with rated engines of 40HP but below 100HP and lastly, tractors with rated engine of 100HP & above. On the basis of drive type, the market is segmented among two-wheel drive and four-wheel drive. Tractors are significantly used or purchased by rural authorities/associations or farmers. For such communities, price of a tractor is a very significant factor of making a purchase decision, and on the other hand, utilization & performance of machine for their all-round purposes are considered by them while making a purchase. Tractors of engines with rated power output of 40HP to below 100HP and of two-wheel drive are most suitable to the consumers due to being relatively inexpensive as well as heavy enough to perform mentioned farming activities and hence are in most demand all over the globe. However, with increasing utilization of tractor in heavy construction as well as large scale farming activities are aiding the sales of heavy tractors with four-wheel drive and rated engine output of above 100HP. In addition to that, by region, the market is distributed into Asia-Pacific, North America, Europe, South America, and Middle East & Africa. India and China are one of the largest exporters of Rice. China has 7% of the arable land and with that, they feed 22% of the world’s population. Around 58% of Indian population is indulged in agricultural activities, the country has a total 96-million-hectare irrigated area. Both the countries are the largest wheat producers in the world. Hence, to withstand such enormous agricultural needs, tractor demand in these countries is the most. Tractor market in these two countries is expected to grow at a robust rate to reach around 1.30 million units cumulatively till 2026. Due to the implementation of lockdown to prevent the spread of the COVID-19 pandemic, sales of tractors in the end of first quarter and in the starting month of second quarter slightly declined in most of the countries. However, a very strong agricultural & food demand was followed afterwards in the remaining year of 2020, driving the year’s performance to a positive trend. India and China witnessed a massive increase of 10.94% and 53.12% in 2020 as compared to 2019 sales. Nevertheless, some of the countries including Japan, France, Italy, United Kingdom, Spain, Belgium, etc. witnessed a degrowth in the year 2020, mainly due to contraction of production units and halt on international trade. However, the market is seen to be recovering at a good pace and is expected to overcome in the 2021-2022 period. Hence, giving positive outlook to the market eventually. Mahindra & Mahindra Ltd. holds the largest share in global tractor market, followed by Deere & Co. (John Deere) and Tractor & Farm Equipments Ltd., which holds double-digit shares individually. Other international leaders of the market are Sonalika International Tractors Ltd., Escorts Ltd., Kubota Corporation, CNH Industrial N.V, AGCO Corporation (with subsidiary brands: Massey Fergusson, Valtra & Fendt), Case IH, CLAAS KGaA mbH, YTO Group (Dongfanhong), Deutz-Fahr GmbH, Dongfeng Agricultural Machinery Group Co., Ltd., etc. which holds single-digit shares. “Mahindra & Mahindra Ltd. dominated the market in the year 2020, due to its remarkable dealership network, which offers a wide range of economical yet qualitative products with adaptive technological demands of their customers as well as withstanding government’s safety and emission norms. The demand for tractors is anticipated to increase globally in the coming years, on account of increased needs of mechanized farming and growing government’s focus on strengthening agriculture industry and improving productivity.”, said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm. 23

  24. Sample Data - Snapshot Global Tractor Market Size, By Value (USD Million) & By Volume (Million Units), 2016–2026F 15.00 110.00 14.00 100.00 13.00 90.00 12.00 80.00 11.00 70.00 10.00 60.00 9.00 50.00 8.00 40.00 7.00 30.00 6.00 20.00 5.00 10.00 2016 2020 2021E 2026F CAGR By Value & Volume XX% CAGR By Value & Volume YY% By Value (USD Million) By Volume ( Million Units) Global Tractor Market Share, By Power Output, By Volume, 2016–2026F 33% 33% 33% 33% 33% 33% 33% 33% 33% 33% 33% 100 HP & Above 40 HP & Under 100 HP 34% 34% 34% 34% 34% 34% 34% 34% 34% 34% 34% 33% 33% 33% 33% 33% 33% 33% 33% 33% 33% 33% Under 40 HP 2016 2017 2018 2019 2020 2021E 2022F 2023F 2024F 2025F 2026F Europe Tractor Market Share, By Drive Type, By Volume, 2016–2026F 50% 50% 50% 50% 50% 50% 50% 50% 50% 50% 50% 2-Wheel Drive 50% 50% 50% 50% 50% 50% 50% 50% 50% 50% 50% 4-Wheel Drive 2016 2017 2018 2019 2020 2021E 2022F 2023F 2024F 2025F 2026F 24

  25. Report Ordering Report Name: GLOBAL TRACTOR MARKET FORECAST & OPPORTUNITIES 2016 – 2026 License Type Single User License Price $3500 Multi-User License Custom Research License $4500 $7500 To View Sample OR Purchase Report 25

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