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Wheeled Tractor Machinery Market

: Global Market Estimation, Dynamics, Regional Share, Trends, Competitor Analysis 2013-2017 and Forecast 2018-2024

 

Global Wheeled Tractor Machinery Market: By Tractor Design (Two Wheeled Tractors and Four Wheeled Tractors), Tractor Type (Rotary Tillers, Row Crop Tractors, Implement Carrier, Utility Tractors, Industrial Tractor, Earth Moving Tractor, Garden Tractor, Orchard Type Tractor) and Geography

 

 

Global Wheeled Tractor Machinery Market Outline:

 

Wheeled tractors are the vehicles used in the agriculture farming, to deliver the high torque at low speeds. These tractors are commonly used in the agriculture farming and outside the farming for other purposes such as gardening. Tractors provide traction and power to agriculture works especially for tillage. Agriculture usage of tractors is largest segment in the sector. These are commonly used to improve the efficiency of work with reducing time. Different types of wheeled tractor machinery are used for different purposes such as seeding, cutting, harvesting, planting, and tillage among others.

 

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.

 

The market is segmented on the basis of tractor design and tractor type

Based on the tractor design, it is segmented into the following:

  • Two-wheeled tractors
  • Four-wheeled tractors

Based on the tractor type, it is segmented into the following:

  • Rotary tillers
  • Row crop tractors
  • Implement carrier
  • Utility tractors
  • Industrial tractor
  • Earthmoving tractor
  • Garden tractor
  • Orchard type tractor

 

Market Summary:

The market is growing at a significant CAGR owing to increase in the agriculture land coupled with lack of agriculture labours. Government support for the purchasing of tractors such as providing subsidy also increases the revenue of wheeled tractor machinery market. Moreover, acquisitions and mergers and collaborations for the business expansion are the strategies followed by the competitors for increasing their revenue in wheeled tractor machinery market. For instance, in May 2015, Mahindra & Mahindra Ltd acquired 33% stake in Mitsubishi Agriculture Machinery Co Ltd to jointly develop machinery products to address the opportunities in agri-machinery segment around the globe. In addition, launching of new products into the market also propel the wheeled tractor machinery market. For instance, in April 2015, John Deere launched new hay and forage machinery into the market.

 

Regional Analysis: 

Global wheeled tractor machinery market is segmented into North America, Asia-Pacific, Europe, Latin America, and Middle East and Africa. 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.

 

Competition Assessment: 

Key player profiles in the market include:

  • 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)

 

Notable Market Developments:

  • In March 2017, Mahindra & Mahindra announced that company expanding international play for its farm machinery and tractor business, to earn 50% revenue from overseas market in next two years

 

Key Features of the Report:

  • The report provides granular level information about the market size, regional market share, historic market (2013-2017) and forecast (2018-2024)
  • 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

 

  • 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)