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Growth Opportunities in Agricultural Tractors
Growth Opportunities in Agricultural Tractors
Autonomous Tractors, Precision Agtech, and Business Model Transformation to Drive Growth through 2030
RELEASE DATE
26-Sep-2023
26-Sep-2023
REGION
North America
North America
DELIVERABLE TYPE
Market Research
Market Research
RESEARCH CODE
PE6E-01-00-00-00
PE6E-01-00-00-00
SKU
AU_2023_184
AU_2023_184
$4,950.00
Special Price $3,712.50 save 25 %
In stock
SKU
AU_2023_184
The global agricultural tractor industry is a critical component of the systems that make feeding a global population possible. Agricultural tractors are used to perform a variety of tasks on farms, including plowing, tilling, planting, and harvesting crops. This industry has grown significantly in recent years, with a global market size of $54.96 billion in 2022 that will reach approximately $81.42 billion in 2030, increasing at a compound annual growth rate (CAGR) of 5.0% during that period. Several factors are driving this growth, including an expanding global population, rising demand for food, and increasing mechanization of farming practices. During this same period, the developed markets of the United States and Europe will experience CAGRs of 4.8% and 6.4%, respectively, whereas the developing nations of India and China will show resilient growth rates of 7.1% and 2.6%. This is due to the large agricultural sector in India and China that see high demand for tractors. In North America and Europe, large-scale agriculture practices drive growth in the tractor market.
Overall, the agricultural tractor industry is highly competitive, with many manufacturers operating and competing for market share. The industry is dominated by a few major players, including John Deere, AGCO Corporation, CNH Industrial, and Kubota Corporation. These companies have a strong presence in many markets and offer a range of products, from small utility tractors to large industrial tractors. The industry is also characterized by a trend toward more sustainable and efficient tractors, with an increasing focus on reducing emissions and improving fuel efficiency. This trend is driving innovation, with manufacturers developing new technologies such as electric and autonomous tractors.
Frost & Sullivan expects major innovations in the agricultural tractor market to happen in the fields of precision agriculture, electrification, automation/robotics, new business model transformation, and autonomous tractors. The adoption of precision agriculture tools is already picking up pace in developed markets, yet the trend has yet to catch up in developing markets.
Research Highlights:
- Analyze market growth trends globally
- Evaluate technology trends and market dynamics
- Examine market status and understand expectations by 2030
Key Issues Addressed:
- What are the main areas of demand and growth?
- Who are the top industry participants, and what are their anticipated development and launch activities for 2023–2030?
- What are some of the notable industry partnerships and highlights?
- What are the main factors and trends shaping industry growth?
- What is the expected demand for tractor unit sales globally?
Why Is It Increasingly Difficult to Grow?
The Strategic Imperative 8™
The Impact of the Top 3 Strategic Imperatives on the Agricultural Tractor Industry
Growth Opportunities Fuel the Growth Pipeline Engine™
Economic Environment: Gross Domestic Product (GDP) Growth
Agricultural Outlook, 2021–2030
Global Use of Major Commodities
Regional Contributions to Food Demand Growth
Sources of Growth in Crop Production
GHG Impact
Commodity Returns
Commodity Price Forecast
Key Findings
Scope of Analysis
Market Segmentation
Value Chain Analysis
Agricultural Tractors: Key Competitors
Growth Metrics
Growth Drivers
Growth Restraints
Forecast Assumptions
Equipment in Operation (EIO) Forecast
Revenue Forecast
Revenue Forecast by Region
Unit Sales Forecast
Unit Sales Forecast by Region
Pricing Range for Different Power Segments: US and India
Competitive Environment
Market Share
Economic Environment
Trade and Land Usage
Economic Environment: Agricultural Acreage
Regional Indicators: North America
Growth Metrics
Equipment in Operation
Revenue Forecast
Unit Sales Forecast
Economic Environment
Russo-Ukrainian War: Agricultural Machinery Flow
Trade and Land Use
Regional Indicators
Growth Metrics
Equipment in Operation
Revenue Forecast
Unit Sales Forecast
Unit Sales Forecast by Country
Economic Environment
Area Harvested and Land Usage: Asia-Pacific
Regional Indicators: Asia-Pacific
Growth Metrics
Equipment in Operation
Revenue Forecast
Unit Sales Forecast
Economic Environment
Growth Metrics
Equipment in Operation
Revenue Forecast
Unit Sales Forecast
The Future of Tractors
Trend 1: Precision Agriculture
Precision Agriculture: OEM Product Mapping
Precision Agriculture: OEM Product Mapping (continued)
Precision Agriculture: OEM Product Mapping (continued)
Precision Agriculture: Third-party Solution Providers
Precision Agriculture: Third-party Solution Providers (continued)
Precision Agriculture: Third-party Solution Providers (continued)
Precision Agriculture: Third-party Solution Providers (continued)
Trend 2: Autonomous Tractors
Brief History of Tractors
Autonomous Tractor Tech
Connected Tractors
Autonomous Tractors: Key Product Launches
Autonomous Tractors: Key Product Launches (continued)
Autonomous Third-party Solution Providers
Trend 3: New Business Models
Custom Options for Using Tractors
Summary of Alternative Methods of Tractor Procurement
Disruptive Business Models in Agriculture
Disruptive Business Models in Agriculture (continued)
Disruptive Business Models in Agriculture (continued)
Trend 4: Decarbonization and Innovation
Major Levers of Carbon Emission Reduction
Considerations from Market Players on Emissions Regulations
Market Requirements for Energy Demand
Future Powertrain and Energy Storage Technologies
Emission Regulations for Nonroad Equipment in US (EPA) and Europe
Government Initiatives for Financing: United States
Government Initiatives for Emissions Control: United States
Carbon Market and Agriculture: United States
Government Initiatives: Europe
Emission Norms: India
Government Initiatives: India
Emission Norms: China
Targeted Tech in Tractors
Targeted Tech in Tractors (continued)
Major Players’ Product Launches
Major Players’ Product Launches (continued)
Major Players’ Product Launches (continued)
TCO Case Study by ICCT: India
Trend 5: Robotics
Key Mergers and Acquisitions
Key Mergers and Acquisitions (continued)
Investments in Tractor Tech
Growth Opportunity 1: Right Partners for Technological Development
Growth Opportunity 1: Right Partners for Technological Development (continued)
Growth Opportunity 2: New Business Model Revolution
Growth Opportunity 2: New Business Model Revolution (continued)
Growth Opportunity 3: Emission Targets and Electrification
Growth Opportunity 3: Emission Targets and Electrification (continued)
Your Next Steps
Why Frost, Why Now?
List of Exhibits
List of Exhibits (continued)
List of Exhibits (continued)
List of Exhibits (continued)
Legal Disclaimer
List of Figures
- Economic Environment: Annual GDP and Real GDP Growth, Global, 2022–2030
- Economic Environment: Population Growth, Global, 2011–2020 and 2021–2030
- Economic Environment: Major Agricultural Commodities Demand Growth, Global, 2011–2020 and 2021–2030
- Economic Environment: Use of Major Commodities, Global, 2018–2020 and 2030
- Economic Environment: Regional Contribution to Food Demand Growth, Global, 2011–2020 and 2021–2030
- Economic Environment: Cropland Growth, Global, 2020–2030
- Economic Environment: Source of Crop Production Growth, Global, 2011–2020 and 2021–2030
- Economic Environment: Source of Direct GHG Emissions, Global, 2020 and 2030
- Economic Environment: Annual Change in Agri Production and GHG Emissions, Global, 2020–2030
- Economic Environment: Major Agricultural Commodity Returns, by Country, 2012–2022
- Economic Environment: Commodity Price Forecast, Global, 2019–2030
- Economic Environment: Average Annual Real Price Change for Agricultural Commodities, Global, 2021–2030
- Agricultural Tractors: Growth Metrics, Global, 2022
- Agricultural Tractors: Growth Drivers, Global 2023–2030
- Agricultural Tractors: Growth Restraints, Global 2023–2030
- Agricultural Tractors: EIO Forecast, Global, 2022–2030
- Agricultural Tractors: Revenue Forecast, Global, 2022–2030
- Agricultural Tractors: Revenue Forecast, Global, 2022–2030
- Agricultural Tractors: Unit Sales Forecast, Global, 2022–2030
- Unit Sales by Power, Global, 2022*
- Agricultural Tractors: Pricing Matrix of Different Power Segments, India and US, 2022
- Agricultural Equipment Market: Market by Type, Global, 2022
- Agricultural Equipment Market: Market Size, Global, 2022*
- Economic Environment: Annual GDP and GDP Growth, United States, 2022–2030
- Economic Environment: Export Market Share of Selected Commodities, North America, 2010, 2020, and 2030
- Economic Environment: Area Harvested and Land Use, North America, 2020 and 2030
- Economic Environment: Acreage for Major Field Crops, United States, 2021–2030
- Economic Environment: Absolute Change in Land Use, North America, 2020–2030
- Economic Environment: Percentage Change in Land Use, North America, 2020–2030
- Agricultural Tractors: Growth Metrics, United States, 2022
- Agricultural Tractors: EIO Forecast, United States, 2022–2030
- Agricultural Tractors: Revenue Forecast, United States, 2022–2030
- Agricultural Tractors: Unit Sales Forecast, United States, 2022–2030
- Unit Sales by Power, United States, 2022
- Economic Environment: Annual GDP and GDP Growth, Europe, 2022–2030
- Economic Environment: Trade Flow of Tractors, Russia and Ukraine, 2020–2021
- Economic Environment: Percentage Change in Land Use, Europe, 2020–2030
- Economic Environment: Harvested Area (kha), by Commodity, Europe, 2020 and 2030
- Economic Environment: Net Exports of Agriculture and Fish Products, Europe, 2010, 2020, and 2030
- Economic Environment: Absolute Change in Land Use, Europe, 2020–2030
- Agricultural Tractors: Growth Metrics, Europe, 2022
- Agricultural Tractors: EIO Forecast, Europe, 2022–2030
- Agricultural Tractors: Revenue Forecast, Europe, 2022–2030
- Unit Sales by Power, Europe, 2022
- Agricultural Tractors: Unit Sales Forecast, Europe, 2022–2030
- Agricultural Tractors: Unit Sales Forecast by Country, Europe, 2022–2030
- Economic Environment: Annual GDP and GDP Growth, India, 2022–2030
- Economic Environment: Percentage Change in Land Use, Asia-Pacific, 2020–2030
- Economic Environment: Harvested Area (kha), by Commodity, Asia-Pacific, 2020–2030
- Economic Environment: Absolute Change in Land Use, Asia-Pacific, 2020–2030
- Agricultural Tractors: Growth Metrics, India, 2022
- Agricultural Tractors: EIO Forecast, India, 2022–2030
- Agricultural Tractors: Revenue Forecast, India, 2022–2030
- Unit Sales by Power, India, 2022
- Agricultural Tractors: Unit Sales Forecast, India, 2022–2030
- Economic Environment: Annual GDP and GDP Growth, China, 2022–2030
- Agricultural Tractors: Growth Metrics, China, 2022
- Agricultural Tractors: EIO Forecast, China, 2022–2030
- Agricultural Tractors: Revenue Forecast, China, 2022–2030
- Agricultural Tractors Market: Unit Sales by Drive Type, China, 2022–2030
- Unit Sales by Power, China, 2022
- Emission Regulations: NOx + HC Norms, United States and Europe, 1996–2019+
- Emission Regulations: PM Norms, United States and Europe, 1996–2019+
- Economic Environment: Farm Managers Classified by Age, Europe, 2022
- VC/Private Equity Investments ($ Million), 2022
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The global agricultural tractor industry is a critical component of the systems that make feeding a global population possible. Agricultural tractors are used to perform a variety of tasks on farms, including plowing, tilling, planting, and harvesting crops. This industry has grown significantly in recent years, with a global market size of $54.96 billion in 2022 that will reach approximately $81.42 billion in 2030, increasing at a compound annual growth rate (CAGR) of 5.0% during that period. Several factors are driving this growth, including an expanding global population, rising demand for food, and increasing mechanization of farming practices. During this same period, the developed markets of the United States and Europe will experience CAGRs of 4.8% and 6.4%, respectively, whereas the developing nations of India and China will show resilient growth rates of 7.1% and 2.6%. This is due to the large agricultural sector in India and China that see high demand for tractors. In North America and Europe, large-scale agriculture practices drive growth in the tractor market.
Overall, the agricultural tractor industry is highly competitive, with many manufacturers operating and competing for market share. The industry is dominated by a few major players, including John Deere, AGCO Corporation, CNH Industrial, and Kubota Corporation. These companies have a strong presence in many markets and offer a range of products, from small utility tractors to large industrial tractors. The industry is also characterized by a trend toward more sustainable and efficient tractors, with an increasing focus on reducing emissions and improving fuel efficiency. This trend is driving innovation, with manufacturers developing new technologies such as electric and autonomous tractors.
Frost & Sullivan expects major innovations in the agricultural tractor market to happen in the fields of precision agriculture, electrification, automation/robotics, new business model transformation, and autonomous tractors. The adoption of precision agriculture tools is already picking up pace in developed markets, yet the trend has yet to catch up in developing markets.--BEGIN PROMO--
Research Highlights:
- Analyze market growth trends globally
- Evaluate technology trends and market dynamics
- Examine market status and understand expectations by 2030
Key Issues Addressed:
- What are the main areas of demand and growth?
- Who are the top industry participants, and what are their anticipated development and launch activities for 2023–2030?
- What are some of the notable industry partnerships and highlights?
- What are the main factors and trends shaping industry growth?
- What is the expected demand for tractor unit sales globally?
| Deliverable Type | Market Research |
|---|---|
| Author | Akilan Veerabatheren |
| Industries | Automotive |
| No Index | No |
| Is Prebook | No |
| Keyword 1 | Tractor Industry Strategies |
| Keyword 2 | Agricultural Tractor Market Report |
| Keyword 3 | Tractor Industry Insights |
| List of Charts and Figures | Economic Environment: Annual GDP and Real GDP Growth, Global, 2022–2030~ Economic Environment: Population Growth, Global, 2011–2020 and 2021–2030~ Economic Environment: Major Agricultural Commodities Demand Growth, Global, 2011–2020 and 2021–2030~ Economic Environment: Use of Major Commodities, Global, 2018–2020 and 2030~ Economic Environment: Regional Contribution to Food Demand Growth, Global, 2011–2020 and 2021–2030~ Economic Environment: Cropland Growth, Global, 2020–2030~ Economic Environment: Source of Crop Production Growth, Global, 2011–2020 and 2021–2030~ Economic Environment: Source of Direct GHG Emissions, Global, 2020 and 2030~ Economic Environment: Annual Change in Agri Production and GHG Emissions, Global, 2020–2030~ Economic Environment: Major Agricultural Commodity Returns, by Country, 2012–2022~ Economic Environment: Commodity Price Forecast, Global, 2019–2030~ Economic Environment: Average Annual Real Price Change for Agricultural Commodities, Global, 2021–2030~ Agricultural Tractors: Growth Metrics, Global, 2022~ Agricultural Tractors: Growth Drivers, Global 2023–2030~ Agricultural Tractors: Growth Restraints, Global 2023–2030~ Agricultural Tractors: EIO Forecast, Global, 2022–2030~ Agricultural Tractors: Revenue Forecast, Global, 2022–2030~ Agricultural Tractors: Revenue Forecast, Global, 2022–2030~ Agricultural Tractors: Unit Sales Forecast, Global, 2022–2030~ Unit Sales by Power, Global, 2022*~ Agricultural Tractors: Pricing Matrix of Different Power Segments, India and US, 2022~ Agricultural Equipment Market: Market by Type, Global, 2022~ Agricultural Equipment Market: Market Size, Global, 2022*~ Economic Environment: Annual GDP and GDP Growth, United States, 2022–2030~ Economic Environment: Export Market Share of Selected Commodities, North America, 2010, 2020, and 2030~ Economic Environment: Area Harvested and Land Use, North America, 2020 and 2030~ Economic Environment: Acreage for Major Field Crops, United States, 2021–2030~ Economic Environment: Absolute Change in Land Use, North America, 2020–2030~ Economic Environment: Percentage Change in Land Use, North America, 2020–2030~ Agricultural Tractors: Growth Metrics, United States, 2022~ Agricultural Tractors: EIO Forecast, United States, 2022–2030~ Agricultural Tractors: Revenue Forecast, United States, 2022–2030~ Agricultural Tractors: Unit Sales Forecast, United States, 2022–2030~ Unit Sales by Power, United States, 2022~ Economic Environment: Annual GDP and GDP Growth, Europe, 2022–2030~ Economic Environment: Trade Flow of Tractors, Russia and Ukraine, 2020–2021~ Economic Environment: Percentage Change in Land Use, Europe, 2020–2030~ Economic Environment: Harvested Area (kha), by Commodity, Europe, 2020 and 2030~ Economic Environment: Net Exports of Agriculture and Fish Products, Europe, 2010, 2020, and 2030~ Economic Environment: Absolute Change in Land Use, Europe, 2020–2030~ Agricultural Tractors: Growth Metrics, Europe, 2022~ Agricultural Tractors: EIO Forecast, Europe, 2022–2030~ Agricultural Tractors: Revenue Forecast, Europe, 2022–2030~ Unit Sales by Power, Europe, 2022~ Agricultural Tractors: Unit Sales Forecast, Europe, 2022–2030~ Agricultural Tractors: Unit Sales Forecast by Country, Europe, 2022–2030~ Economic Environment: Annual GDP and GDP Growth, India, 2022–2030~ Economic Environment: Percentage Change in Land Use, Asia-Pacific, 2020–2030~ Economic Environment: Harvested Area (kha), by Commodity, Asia-Pacific, 2020–2030~ Economic Environment: Absolute Change in Land Use, Asia-Pacific, 2020–2030~ Agricultural Tractors: Growth Metrics, India, 2022~ Agricultural Tractors: EIO Forecast, India, 2022–2030~ Agricultural Tractors: Revenue Forecast, India, 2022–2030~ Unit Sales by Power, India, 2022~ Agricultural Tractors: Unit Sales Forecast, India, 2022–2030~ Economic Environment: Annual GDP and GDP Growth, China, 2022–2030~ Agricultural Tractors: Growth Metrics, China, 2022~ Agricultural Tractors: EIO Forecast, China, 2022–2030~ Agricultural Tractors: Revenue Forecast, China, 2022–2030~ Agricultural Tractors Market: Unit Sales by Drive Type, China, 2022–2030~ Unit Sales by Power, China, 2022~ Emission Regulations: NOx + HC Norms, United States and Europe, 1996–2019+~ Emission Regulations: PM Norms, United States and Europe, 1996–2019+~ Economic Environment: Farm Managers Classified by Age, Europe, 2022~ VC/Private Equity Investments ($ Million), 2022~ |
| Podcast | No |
| WIP Number | PE6E-01-00-00-00 |