- Two-wheeled tractors
- Four-wheeled tractors
Wheeled Tractor Machinery Market size was valued at USD 58.32 billion in 2022 and is poised to grow at a CAGR of 5.9% from 2023-2029. Wheeled tractors are the vehicles used in agriculture farming, to deliver high torque at low speeds. These tractors are commonly used in agriculture farming and outside farming for other purposes such as gardening. Tractors provide traction and power to agriculture works especially for tillage. Agriculture usage of tractors is the largest segment in the sector. These are commonly used to improve the efficiency of work by reducing time. Different types of wheeled tractor machinery are used for different purposes such as seeding, cutting, harvesting, planting, and tillage among others. In March 2017, Mahindra & Mahindra announced that the company expanding international play for its farm machinery and tractor business, to earn 50% of revenue from overseas markets in the next two years.
Wheeled Tractor Machinery Market Summary
Study Period
2023-29
Base Year
2022
CAGR
5.9%
Largest Market
North America
Fastest Growing Market
Asia Pacific
Wheeled Tractor Machinery Market Dynamics
Rise in demand from emerging countries for tractor machinery, increase in government support such as subsidies on purchase of tractor machinery, grow in agriculture farming, and rise in consumption of food due to increase in population are anticipated to fuel the global wheeled tractor machinery market. Moreover, technological advancements in tractor machinery, wide range of applications in agriculture sector, and increase in work efficiency with less time propel the growth of the market over the forecast period. However, high cost of machinery and some of wheeled tractors cannot be used on rough lands are expected to restrain the growth of the market.
North-America Got Significant Share of
Wheeled Tractor Machinery Market Regional Analysis
North America wheeled tractor machinery market is rising due increase in the fruits and vegetables farming in U.S., lack of agriculture labours, and launching of newer machinery are anticipated to fuel the market. Europe wheeled tractor machinery market is projected to grow at a significant rate owing to increase in the agriculture farming in UK, Germany, Spain, and Russia, rise in demand for food consumption, and adoption of newer technologies are witnessed to boost the market. Asia Pacific wheeled tractor machinery market has a significant share attributed to increase focus on agriculture farming in China, India, and Japan, government providing subsidies on purchasing of tractors in India, and collaborations between the companies for business expansion are propel the market. Latin America wheeled tractor machinery market is rising due to increase in the machinery used in Argentina and Brazil, rise in demand for food, and increase in agriculture farming are fuel the market. Middle East and Africa wheeled tractor machinery market is growing due to government-sponsored agriculture projects like Galana-Kulalu irrigation scheme at coastal area and large-scale projects by individual farmers have increased the demand for farm equipment.
Latin America
Europe
Asia Pacific
Middle East
North America
Key Features of the Reports
- The report provides granular level information about the market size, regional market share, historic market (2018 to 2022) and forecast (2023 to 2029)
- The report covers in-detail insights about the competitor’s overview, company share analysis, key market developments, and their key strategies
- The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market
- The report tracks recent innovations, key developments and startup’s details that are actively working in the market
- The report provides plethora of information about market entry strategies, regulatory framework and reimbursement scenario
- The report analyses the impact of socio-political environment through PESTLE Analysis and competition through Porter’s Five Force Analysis in addition to recent technology advancements and innovations in the market
Wheeled Tractor Machinery Market Segmentation
By Tractor Design
By Tractor Type
- Rotary tillers
- Row crop tractors
- Implement carrier
- Utility tractors
- Industrial tractor
- Earthmoving tractor
- Garden tractor
- Orchard type tractor
By Geography
- North America,
- Latin America
- Europe
- Asia Pacific
- Middle East and Africa
Frequently Asked Questions
The Wheeled Tractor Machinery Market size was valued at USD 58.32 billion in 2022
The report covers the five regions and 15+ countries market data: North America (United States, Canada), Europe (Germany, France, Italy, Spain, and United Kingdom (UK), Asia Pacific (China, India, Japan, Australia & New Zealand), Latin America (Brazil, Mexico, Argentina) and Middle East and Africa (Saudi Arabia, United Arab Emirates, South Africa).
Deere & Company (U.S.) Mahindra & Mahindra Ltd. (India) CNH Industrial (U.S.) Caterpillar (U.S.) Escorts Group (India) Deutz-Fahr Deutschland GmbH (Germany) CLASS KGaA mbH (Germany)
- Deere & Company (U.S.)
- Mahindra & Mahindra Ltd. (India)
- CNH Industrial (U.S.)
- Caterpillar (U.S.)
- Escorts Group (India)
- Deutz-Fahr Deutschland GmbH (Germany)
- CLASS KGaA mbH (Germany)
- AGCO Corporation (U.S.)
- Kubota Corporation (Japan)
- Mitsubishi Agriculture Machinery Co. Ltd. (Mitsubishi Heavy Industries, Ltd.) (Japan)