The Asia Pacific Agricultural Tractors Market would witness market growth of 4.6% CAGR during the forecast period (2021-2027).
A tractor is a farm vehicle with one or two small wheels in front and two huge wheels in the back and is used for agricultural and other purposes. In addition, it is used to maneuver the associated implement, which ploughs the field or performs other tasks.
The growing global population has increased the demand for agricultural items that people use on a daily basis. Increased customer preference for small-scale tractors (usually with lower power output) and increasing popularity of self-directing (driver-less) tractors are two significant factors that are expected to boost agriculture tractor sales globally throughout the forecast period. Moreover, easy access to credit, rising labor costs, and increased investments in tractor product lines by prominent agriculture machinery manufacturers like John Deere, Mahindra & Mahindra, Tractors & Farm Equipment Limited, would encourage many farmers to adopt such modern machinery for different tasks.
Around 60.0 percent of China's farm activities are mechanized. China produced 617,700 tractors in 2019, according to figures from the National Bureau of Statistics of China. In addition, small tractors were eventually replaced by large and medium-sized tractors. China had 22.24 million agricultural tractors at the end of 2019, with 4.44 million large and medium-sized tractors. Agriculture machinery was featured in the government's "Made in China 2025" campaign in 2018. The program is expected to assist the country in producing the majority of its farm equipment locally, resulting in increased tractors sales in China.
The utilization of animal and human power in India's agriculture sector has decreased significantly. Many of these are propelled by fossil-fuel vehicles such as tractors and diesel engines. As a result, the traditional agricultural process has been replaced with one that is more mechanized. As a result, the old agricultural process has given way to a more mechanical one. In addition, farm productivity issues are mostly addressed by the extensive usage of tractors and other farm equipment. The use of automated power in the field has paved the way for significant changes in the agriculture sector of the country. The Government of India, State Governments, State Agro Industries Corporations, Machinery Manufacturers Associations, Farm Machinery Testing and Training Institutes (FMTTIs), manufacturers, importers, dealers, and farmers are all involved in the subsidy process. The subsidy in the market is shared by both the federal and state governments under direct benefit transfer in agricultural mechanization.
The China market dominated the Asia Pacific Agricultural Tractors Market by Country 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $13,949.5 million by 2027. The Japan market is experiencing a CAGR of 3.6% during (2021 - 2027). Additionally, The India market would display a CAGR of 5.1% during (2021 - 2027).
Based on Driveline Type, the market is segmented into Two-wheel Drive, and Four-wheel Drive. Based on Engine Power, the market is segmented into Less than 40 HP, 41 to 100 HP, and More than 100 HP. Based on countries, the market is segmented into China, Japan, India, South Korea, Australia, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Worldwide Agricultural Tractors Market is Projected to reach USD 81.4 Billion by 2027, at a CAGR of 4.2%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include AGCO Corporation, CNH Industrial N.V., Deere & Company, CLAAS KGaA mbH, Escorts Ltd., International Tractors Ltd., Yanmar Co., Ltd., Kubota Corp., Mahindra & Mahindra Ltd., and Tractors and Farm Equipment Ltd.
Scope of the Study
Market Segments Covered in the Report:
By Driveline Type
- Two-wheel Drive
- Four-wheel Drive
By Engine Power
- Less than 40 HP
- 41 to 100 HP
- More than 100 HP
By Country
- China
- Japan
- India
- South Korea
- Australia
- Malaysia
- Rest of Asia Pacific
Key Market Players
List of Companies Profiled in the Report:
- AGCO Corporation
- CNH Industrial N.V.
- Deere & Company
- CLAAS KGaA mbH
- Escorts Ltd.
- International Tractors Ltd.
- Yanmar Co., Ltd.
- Kubota Corp.
- Mahindra & Mahindra Ltd.
- Tractors and Farm Equipment Ltd.
Chapter 1. Market Scope & Methodology
1.1 Market Definition
1.2 Objectives
1.3 Market Scope
1.4 Segmentation
1.4.1 Asia Pacific Agricultural Tractors Market, by Driveline Type
1.4.2 Asia Pacific Agricultural Tractors Market, by Engine Power
1.4.3 Asia Pacific Agricultural Tractors Market, by Country
1.5 Methodology for the research
Chapter 2. Market Overview
2.1 Introduction
2.1.1 Overview
2.1.1.1 Market Composition and Scenario
2.2 Key Factors Impacting the Market
2.2.1 Market Drivers
2.2.2 Market Restraints
Chapter 3. Competition Analysis - Global
3.1 KBV Cardinal Matrix
3.2 Recent Industry Wide Strategic Developments
3.2.1 Partnerships, Collaborations and Agreements
3.2.2 Product Launches and Product Expansions
3.2.3 Acquisition and Mergers
3.3 Top Winning Strategies
3.3.1 Key Leading Strategies: Percentage Distribution (2017-2022)
3.3.2 Key Strategic Move: (Product Launches and Product Expansions : 2018, Sep – 2022, Feb) Leading Players
Chapter 4. Asia Pacific Agricultural Tractors Market by Driveline Type
4.1 Asia Pacific Two-wheel Drive Market by Country
4.2 Asia Pacific Four-wheel Drive Market by Country
Chapter 5. Asia Pacific Agricultural Tractors Market by Engine Power
5.1 Asia Pacific Less than 40 HP Market by Country
5.2 Asia Pacific 41 to 100 HP Market by Country
5.3 Asia Pacific More than 100 HP Market by Country
Chapter 6. Asia Pacific Agricultural Tractors Market by Country
6.1 China Agricultural Tractors Market
6.1.1 China Agricultural Tractors Market by Driveline Type
6.1.2 China Agricultural Tractors Market by Engine Power
6.2 Japan Agricultural Tractors Market
6.2.1 Japan Agricultural Tractors Market by Driveline Type
6.2.2 Japan Agricultural Tractors Market by Engine Power
6.3 India Agricultural Tractors Market
6.3.1 India Agricultural Tractors Market by Driveline Type
6.3.2 India Agricultural Tractors Market by Engine Power
6.4 South Korea Agricultural Tractors Market
6.4.1 South Korea Agricultural Tractors Market by Driveline Type
6.4.2 South Korea Agricultural Tractors Market by Engine Power
6.5 Australia Agricultural Tractors Market
6.5.1 Australia Agricultural Tractors Market by Driveline Type
6.5.2 Australia Agricultural Tractors Market by Engine Power
6.6 Malaysia Agricultural Tractors Market
6.6.1 Malaysia Agricultural Tractors Market by Driveline Type
6.6.2 Malaysia Agricultural Tractors Market by Engine Power
6.7 Rest of Asia Pacific Agricultural Tractors Market
6.7.1 Rest of Asia Pacific Agricultural Tractors Market by Driveline Type
6.7.2 Rest of Asia Pacific Agricultural Tractors Market by Engine Power
Chapter 7. Company Profiles
7.1 AGCO Corporation
7.1.1 Company Overview
7.1.2 Financial Analysis
7.1.3 Regional Analysis
7.1.4 Recent strategies and developments:
7.1.4.1 Partnerships, Collaborations, and Agreements:
7.1.4.2 Product Launches and Product Expansions:
7.1.4.3 Acquisition and Mergers:
7.2 Mahindra & Mahindra Limited (Mahindra Group)
7.2.1 Company Overview
7.2.2 Financial Analysis
7.2.3 Segmental and Regional Analysis
7.2.4 Research & Development Expense
7.2.5 Recent strategies and developments:
7.2.5.1 Collaborations, Partnerships and Agreements:
7.2.5.2 Product Launches and Product Expansions:
7.3 CNH Industrial N.V.
7.3.1 Company Overview
7.3.2 Financial Analysis
7.3.3 Segmental and Regional Analysis
7.3.4 Research & Development Expenses
7.3.5 Recent strategies and developments:
7.3.5.1 Partnerships, Collaborations, and Agreements:
7.3.5.2 Product Launches and Product Expansions:
7.3.5.3 Acquisition and Mergers:
7.4 Deere & Company
7.4.1 Company Overview
7.4.2 Financial Analysis
7.4.3 Segmental and Regional Analysis
7.4.4 Research & Development Expenses
7.4.5 Recent strategies and developments:
7.4.5.1 Product Launches and Product Expansions:
7.4.5.2 Acquisition and Mergers:
7.5 Claas KGaA mbH
7.5.1 Company Overview
7.5.2 Financial Analysis
7.5.3 Regional Analysis
7.5.4 Research & Development Expenses
7.5.5 Recent strategies and developments:
7.5.5.1 Partnerships, Collaborations, and Agreements:
7.5.5.2 Product Launches and Product Expansions:
7.6 Escorts Limited
7.6.1 Company Overview
7.6.2 Financial Analysis
7.6.3 Segmental and Regional Analysis
7.6.4 Research & Development Expenses
7.6.5 Recent strategies and developments:
7.6.5.1 Partnerships, Collaborations, and Agreements:
7.6.5.2 Product Launches and Product Expansions:
7.7 International Tractors Limited
7.7.1 Company Overview
7.7.2 Recent strategies and developments:
7.7.2.1 Partnerships, Collaborations, and Agreements:
7.7.2.2 Product Launches and Product Expansions:
7.8 Yanmar Holdings Co., Ltd.
7.8.1 Company Overview
7.9 KUBOTA Corporation
7.9.1 Company Overview
7.9.2 Financial Analysis
7.9.3 Segmental and Regional Analysis
7.9.4 Research & Development Expenses
7.10. Tractors and Farm Equipment Limited
7.10.1 Company Overview
7.10.2 Recent strategies and developments:
7.10.2.1 Product Launches and Product Expansions:
7.10.2.2 Acquisition and Mergers:
TABLE 1 Asia Pacific Agricultural Tractors Market, 2017 - 2020, USD Million
TABLE 2 Asia Pacific Agricultural Tractors Market, 2021 - 2027, USD Million
TABLE 3 Partnerships, Collaborations and Agreements– Agricultural Tractors Market
TABLE 4 Product Launches And Product Expansions– Agricultural Tractors Market
TABLE 5 Acquisition and Mergers– Agricultural Tractors Market
TABLE 6 Asia Pacific Agricultural Tractors Market by Driveline Type, 2017 - 2020, USD Million
TABLE 7 Asia Pacific Agricultural Tractors Market by Driveline Type, 2021 - 2027, USD Million
TABLE 8 Asia Pacific Two-wheel Drive Market by Country, 2017 - 2020, USD Million
TABLE 9 Asia Pacific Two-wheel Drive Market by Country, 2021 - 2027, USD Million
TABLE 10 Asia Pacific Four-wheel Drive Market by Country, 2017 - 2020, USD Million
TABLE 11 Asia Pacific Four-wheel Drive Market by Country, 2021 - 2027, USD Million
TABLE 12 Asia Pacific Agricultural Tractors Market by Engine Power, 2017 - 2020, USD Million
TABLE 13 Asia Pacific Agricultural Tractors Market by Engine Power, 2021 - 2027, USD Million
TABLE 14 Asia Pacific Less than 40 HP Market by Country, 2017 - 2020, USD Million
TABLE 15 Asia Pacific Less than 40 HP Market by Country, 2021 - 2027, USD Million
TABLE 16 Asia Pacific 41 to 100 HP Market by Country, 2017 - 2020, USD Million
TABLE 17 Asia Pacific 41 to 100 HP Market by Country, 2021 - 2027, USD Million
TABLE 18 Asia Pacific More than 100 HP Market by Country, 2017 - 2020, USD Million
TABLE 19 Asia Pacific More than 100 HP Market by Country, 2021 - 2027, USD Million
TABLE 20 Asia Pacific Agricultural Tractors Market by Country, 2017 - 2020, USD Million
TABLE 21 Asia Pacific Agricultural Tractors Market by Country, 2021 - 2027, USD Million
TABLE 22 China Agricultural Tractors Market, 2017 - 2020, USD Million
TABLE 23 China Agricultural Tractors Market, 2021 - 2027, USD Million
TABLE 24 China Agricultural Tractors Market by Driveline Type, 2017 - 2020, USD Million
TABLE 25 China Agricultural Tractors Market by Driveline Type, 2021 - 2027, USD Million
TABLE 26 China Agricultural Tractors Market by Engine Power, 2017 - 2020, USD Million
TABLE 27 China Agricultural Tractors Market by Engine Power, 2021 - 2027, USD Million
TABLE 28 Japan Agricultural Tractors Market, 2017 - 2020, USD Million
TABLE 29 Japan Agricultural Tractors Market, 2021 - 2027, USD Million
TABLE 30 Japan Agricultural Tractors Market by Driveline Type, 2017 - 2020, USD Million
TABLE 31 Japan Agricultural Tractors Market by Driveline Type, 2021 - 2027, USD Million
TABLE 32 Japan Agricultural Tractors Market by Engine Power, 2017 - 2020, USD Million
TABLE 33 Japan Agricultural Tractors Market by Engine Power, 2021 - 2027, USD Million
TABLE 34 India Agricultural Tractors Market, 2017 - 2020, USD Million
TABLE 35 India Agricultural Tractors Market, 2021 - 2027, USD Million
TABLE 36 India Agricultural Tractors Market by Driveline Type, 2017 - 2020, USD Million
TABLE 37 India Agricultural Tractors Market by Driveline Type, 2021 - 2027, USD Million
TABLE 38 India Agricultural Tractors Market by Engine Power, 2017 - 2020, USD Million
TABLE 39 India Agricultural Tractors Market by Engine Power, 2021 - 2027, USD Million
TABLE 40 South Korea Agricultural Tractors Market, 2017 - 2020, USD Million
TABLE 41 South Korea Agricultural Tractors Market, 2021 - 2027, USD Million
TABLE 42 South Korea Agricultural Tractors Market by Driveline Type, 2017 - 2020, USD Million
TABLE 43 South Korea Agricultural Tractors Market by Driveline Type, 2021 - 2027, USD Million
TABLE 44 South Korea Agricultural Tractors Market by Engine Power, 2017 - 2020, USD Million
TABLE 45 South Korea Agricultural Tractors Market by Engine Power, 2021 - 2027, USD Million
TABLE 46 Australia Agricultural Tractors Market, 2017 - 2020, USD Million
TABLE 47 Australia Agricultural Tractors Market, 2021 - 2027, USD Million
TABLE 48 Australia Agricultural Tractors Market by Driveline Type, 2017 - 2020, USD Million
TABLE 49 Australia Agricultural Tractors Market by Driveline Type, 2021 - 2027, USD Million
TABLE 50 Australia Agricultural Tractors Market by Engine Power, 2017 - 2020, USD Million
TABLE 51 Australia Agricultural Tractors Market by Engine Power, 2021 - 2027, USD Million
TABLE 52 Malaysia Agricultural Tractors Market, 2017 - 2020, USD Million
TABLE 53 Malaysia Agricultural Tractors Market, 2021 - 2027, USD Million
TABLE 54 Malaysia Agricultural Tractors Market by Driveline Type, 2017 - 2020, USD Million
TABLE 55 Malaysia Agricultural Tractors Market by Driveline Type, 2021 - 2027, USD Million
TABLE 56 Malaysia Agricultural Tractors Market by Engine Power, 2017 - 2020, USD Million
TABLE 57 Malaysia Agricultural Tractors Market by Engine Power, 2021 - 2027, USD Million
TABLE 58 Rest of Asia Pacific Agricultural Tractors Market, 2017 - 2020, USD Million
TABLE 59 Rest of Asia Pacific Agricultural Tractors Market, 2021 - 2027, USD Million
TABLE 60 Rest of Asia Pacific Agricultural Tractors Market by Driveline Type, 2017 - 2020, USD Million
TABLE 61 Rest of Asia Pacific Agricultural Tractors Market by Driveline Type, 2021 - 2027, USD Million
TABLE 62 Rest of Asia Pacific Agricultural Tractors Market by Engine Power, 2017 - 2020, USD Million
TABLE 63 Rest of Asia Pacific Agricultural Tractors Market by Engine Power, 2021 - 2027, USD Million
TABLE 64 Key Information – AGCO Corporation
TABLE 65 key Information – Mahindra & Mahindra Limited
TABLE 66 Key Information – CNH Industrial N.V.
TABLE 67 Key Information – Deere & Company
TABLE 68 Key Information – Claas KGaA mbH
TABLE 69 Key Information – Escorts Limited
TABLE 70 Key Information – International tractors limited
TABLE 71 Key Information – Yanmar Holdings Co., Ltd.
TABLE 72 Key Information – KUBOTA Corporation
TABLE 73 Key Information – Tractors and Farm Equipment Limited
List of Figures
FIG 1 Methodology for the research
FIG 2 KBV Cardinal Matrix
FIG 3 Key Leading Strategies: Percentage Distribution (2017-2022)
FIG 4 Key Strategic Move: (Product Launches and Product Expansions : 2018, Sep – 2022, Feb) Leading Players
FIG 5 Recent strategies and developments: AGCO Corporation
FIG 6 Recent strategies and developments: Mahindra & Mahindra Limited
FIG 7 Recent strategies and developments: CNH Industrial N.V.
FIG 8 Recent strategies and developments: Deere & Company
FIG 9 Recent strategies and developments: Claas KGaA mbH
FIG 10 Recent strategies and developments: Escorts Ltd.
FIG 11 Recent strategies and developments: International Tractors Ltd.
FIG 12 Recent strategies and developments: Tractors and Farm Equipment Ltd.