Global Forestry and Agricultural Tractor Industry Market Report 2019 | Forecast Till 2026 | By Type, End-use, Geography, Player
A forestry and agricultural tractor is an engineering vehicle specifically designed to deliver at a high tractive effort (or torque) at slow speeds, for the purposes of hauling a trailer or machinery.
The global Forestry and Agricultural Tractor market is estimated to be USD 88,570 million in 2019 and is expected to reach USD 118,130 million by 2026, with a CAGR of 4.2% during the forecast period.
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Key Dynamics
Rising need to maximize agricultural output owing to the shrinking share of arable land is expected to boost the sales of tractors across the globe. Similarly, increasing trend of mechanization of agricultural and forest activities is expected to increase the adoption of tractors during the forecast period. Added to above, emerging economies in the Asia Pacific region such as India and China among others with the expected higher rate of agricultural activities could provide ample opportunities for forestry and agricultural tractor market players. However, the main challenge affecting current market growth is the limitations of downstream markets.
Segmentation
On the basis of type, Forestry and Agricultural Tractor Market segmented into
l Below 10 KW
l 10-30 KW
l 30-50KW
l Above 50 KW
By product type, this market is segmented into Below 10 KW, 10-30 KW, 30-50KW, and Above 50 KW. Among them, above 50 kW power range occupies the leading position. As farmers strive to complete their farm operations in lesser time, the adoption of higher power tractors has increased. To finish work rapidly on a vast piece of land, a bigger sized tractor is required to accommodate bigger equipment and tools for the same. As the size and weight of the tractor increase, so does the power required to pull the tractor.
Similarly, in forest lands, larger tractors with a higher power are preferred to carry out tedious jobs in a swift manner. Moreover, high powered tractors are preferable in uneven and steep land surfaces of forest land to offer better pulling power and traction. As a result, global demand for tractors with a power range above 50 kilowatts has been increasing. In 2016, around 1,500 units of above 50 kW power range of tractors were sold globally.
On the application, Forestry and Agricultural Tractor Market segmented into
l Forestry
l Agricultural
Based on the application, this market is divided into forestry and agricultural purposes. Agriculture dominated the global forestry and agricultural tractor sales market in 2016. In agriculture application, the tractor is utilized for numerous tasks. Gradually, more and more manual tasks in agriculture have been mechanized through the adoption of tractors in the farms. Along with these, special purpose tractors are also used in agriculture such as row crop tractors, wheatland tractors, and high crop tractors, among others.
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Competitive Landscape
The global forestry and agricultural tractor industry is mainly concentrated in Asia, the European Union, and the United States. With the large demand for health products at home and abroad, many companies have begun to enter this field. Important players profiled in the global Forestry and Agricultural Tractor market include Deere & Company, CNH Industrial, CNH Industrial, Kubota, Mahindra, Kioti, AGCO Corporation, Claas, BCS America, J C Bamford Excavators, SDF, Tractors and Farm Equipment, V.S.T Tillers Tractors, ZETOR TRACTORS, First Tractor, Indo Farm Equipment Limited, Lovol Heavy Industry, Shandong Shifeng, Sonalika International Tractors, Zoomlion Heavy Industry Science & Technology, and etc.
Regional Spotlights
Asia-Pacific region is the largest market for forestry and agricultural tractor in 2018, accounting for 34% of the world's sales, followed by North America and Europe, accounting for 33% and 23% respectively. Increasing agricultural activities, rising income levels, increasing labor costs, and need for enhanced crop output has boosted the demand for tractors in the Asia-Pacific region. Countries such as China and India are leading players in the region and hold a major share of Asia forestry and agricultural tractor sales market.
Overall Regions Outlook
l North America (U.S., Canada, Mexico)
l Europe (Germany, France, Italy, Spain, U.K., Nordic Countries, Belgium, Russia, Rest of Europe
l Asia Pacific (China, India, Australia, Japan, South Korea, Australia and New Zealand, Rest of Asia Pacific)
l Latin America, Middle East & Africa (Brazil, Nigeria, Argentina, South Africa, GCC Countries.
l Others
Table of Content
1 Report Overview
1.1 Product Definition and Scope
1.2 PEST (Political, Economic, Social and Technological) Analysis of Forestry and Agricultural Tractor Market
…
2 Market Trends and Competitive Landscape
3 Segmentation of Forestry and Agricultural Tractor Market by Types
4 Segmentation of Forestry and Agricultural Tractor Market by End-Users
5 Market Analysis by Major Regions
6 Product Commodity of Forestry and Agricultural Tractor Market in Major Countries
7 North America Forestry and Agricultural Tractor Landscape Analysis
8 Europe Forestry and Agricultural Tractor Landscape Analysis
9 Asia Pacific Forestry and Agricultural Tractor Landscape Analysis
10 Latin America, Middle East & Africa Forestry and Agricultural Tractor Landscape Analysis
11 Major Players Profile
11.1 Deere & Company
11.1.1 Deere & Company Company Profile and Recent Development
11.1.2 Market Performance
11.1.3 Product and Service Introduction
11.2 CNH Industrial
11.3 Kubota
11.4 Mahindra
11.5 Kioti
11.6 AGCO Corporation
11.7 Claas
11.8 BCS America
11.9 J C Bamford Excavators
11.10 SDF
11.11 Tractors and Farm Equipment
11.12 V.S.T Tillers Tractors
11.13 ZETOR TRACTORS
11.14 First Tractor
11.15 Indo Farm Equipment Limited
11.16 Lovol Heavy Industry
11.17 Shandong Shifeng
11.18 Sonalika International Tractors
11.19 Zoomlion Heavy Industry Science & Technology
11.20 Changzhou Dongfeng Agricultural Machinery
…
In-depth Forestry and Agricultural Tractor Market Report: Intended Audience
l Forestry and Agricultural Tractor manufacturers
l Downstream vendors and end-users
l Traders, distributors, and resellers of Forestry and Agricultural Tractor
l Forestry and Agricultural Tractor industry associations and research organizations
l Product managers, Forestry and Agricultural Tractor industry administrator, C-level executives of the industries
l Market Research and consulting firms
l Small and Medium-sized Enterprises (SMEs)
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Years considered for the study
l Base Year: 2018
l Estimated Year: 2019
l Forecast Period: 2019 to 2026
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