Agricultural Tractors Market
Agricultural Tractors Market Forecasts to 2032 - Global Analysis By Tractor Type (Utility Tractors, Row Crop Tractors, Orchard Tractors, Compact Tractors, Garden Tractors, High-Horsepower and Other Tractor Types), Fuel Type, Tire Type, Application, End User and By Geography
|
Years Covered |
2024-2032 |
|
Estimated Year Value (2025) |
US $73.8 BN |
|
Projected Year Value (2032) |
US $112.4 BN |
|
CAGR (2025-2032) |
6.2% |
|
Regions Covered |
North America, Europe, Asia Pacific, South America, and Middle East & Africa |
|
Countries Covered |
US, Canada, Mexico, Germany, UK, Italy, France, Spain, Japan, China, India, Australia, New Zealand, South Korea, Rest of Asia Pacific, South America, Argentina, Brazil, Chile, Middle East & Africa, Saudi Arabia, UAE, Qatar, and South Africa |
|
Largest Market |
North America |
|
Highest Growing Market |
Asia Pacific |
According to Stratistics MRC, the Global Agricultural Tractors Market is accounted for $73.8 billion in 2025 and is expected to reach $112.4 billion by 2032 growing at a CAGR of 6.2% during the forecast period. Agricultural tractors are powerful, versatile machines designed to perform a variety of tasks in farming and agriculture. These vehicles are primarily used for plowing, tilling, planting, and harvesting crops. Equipped with large wheels and a high-torque engine, they can pull heavy implements like plows, harrows, and seeders. Tractors also support tasks such as hauling, irrigation, and fertilizing, making them essential for modern farming. With technological advancements, agricultural tractors now include features like GPS navigation, automated systems, and enhanced fuel efficiency, improving productivity and reducing manual labor on farms.
According to the National Bureau of Statistics of China, small tractors are increasingly replacing large and medium-sized tractors. By the end of 2023, the country recorded 4.4 million large and medium-sized tractors.
Market Dynamics:
Driver:
Increasing farm mechanization
Increasing farm mechanization is driving significant growth in the market. As farms expand in size and demand for higher efficiency rises, tractors are essential for automating tasks such as plowing, planting, and harvesting. Mechanization reduces labor costs, improves productivity, and enhances crop yield. Additionally, technological innovations like GPS systems, precision farming tools, and fuel-efficient engines make tractors more advanced and accessible. This trend is particularly evident in developing regions, where mechanization is revolutionizing agricultural practices and boosting tractor demand.
Restraint:
Lack of infrastructure
The lack of infrastructure in the market can significantly hinder growth and efficiency. Inadequate road networks, poor maintenance facilities, and limited access to spare parts prevent tractors from being fully utilized, especially in remote areas. This leads to frequent breakdowns, reduced productivity, and higher operational costs for farmers. Additionally, limited infrastructure hampers the timely delivery of tractors and accessories, making it difficult for farmers to access the latest technology, ultimately impeding agricultural advancement and mechanization.
Opportunity:
Rising trend of custom hiring
The rising trend of custom hiring in the market is reshaping the industry. Small-scale farmers are increasingly opting for tractor rental services rather than purchasing expensive equipment. Custom hiring allows farmers to access high-quality machinery for specific tasks like plowing, planting, or harvesting without the financial burden of ownership. This trend is driven by the growing need for cost-effective, efficient farming solutions and the availability of specialized equipment tailored to individual crop and field requirements, fostering greater accessibility and productivity.
Threat:
Lack of awareness and skilled manpower
The lack of awareness and skilled manpower in the market negatively impacts productivity and efficiency. Many farmers are unaware of the latest tractor technologies and their benefits, leading to underutilization of modern machinery. Additionally, a shortage of skilled operators and maintenance personnel results in improper handling and poor maintenance, causing frequent breakdowns and reduced lifespan of tractors. This skill gap not only affects tractor performance but also limits the adoption of advanced mechanization, slowing down agricultural progress.
Covid-19 Impact:
The COVID-19 pandemic had a significant impact on the market, disrupting production, supply chains, and demand. Factory closures and restrictions led to delays in manufacturing and deliveries, while labour shortages affected tractor maintenance and repairs. On the demand side, many farmers faced financial difficulties, limiting their ability to invest in new equipment. However, the pandemic also highlighted the need for efficient, mechanized farming, leading to increased interest in tractors as a means to ensure food security and reduce dependence on labour.
The utility tractors segment is expected to be the largest market share during the forecast period
The utility tractors segment is expected to account for the largest market share during the forecast period. These compact, multi-purpose machines are ideal for small to medium-sized farms, performing tasks such as plowing, tilling, mowing, hauling, and hauling equipment. Utility tractors are designed to be durable, fuel-efficient, and easy to operate, making them an attractive option for farmers seeking cost-effective solutions. Their adaptability to various attachments further enhances their value, driving demand in diverse agricultural sectors.
The irrigation segment is expected to have the highest CAGR during the forecast period
Over the forecast period, the irrigation segment is predicted to witness the highest growth rate. Tractors equipped with specialized irrigation attachments, such as sprayers and irrigation pumps, allow farmers to automate and optimize watering processes. This reduces water wastage, improves crop health, and boosts productivity. With growing concerns over water scarcity and climate change, demand for tractor-based irrigation solutions is rising, making it an essential feature for modern, sustainable farming practices.
Region with largest share:
During the forecast period, the North America region is expected to hold the largest market share. The region's well-established agricultural sector relies heavily on tractors for tasks such as plowing, planting, and harvesting. Increasing adoption of precision farming technologies, such as GPS and automated systems, is further boosting tractor demand. Additionally, favorable government policies and incentives supporting farm mechanization contribute to market growth. The U.S. and Canada lead in market share, with a focus on sustainable and advanced machinery.
Region with highest CAGR:
Over the forecast period, the Asia Pacific region is anticipated to exhibit the highest CAGR. Governments in countries like India and China are implementing policies to promote agricultural mechanization, including subsidies and financial incentives for farmers adopting modern equipment. Manufacturers across the Asia Pacific are investing in research and development to introduce tractors with enhanced fuel efficiency, improved ergonomics, and advanced features like GPS tracking and automated controls.
Key players in the market
Some of the key players in Agricultural Tractors market include John Deere, CNH Industrial, AGCO Corporation, Kubota Corporation, Mahindra & Mahindra Ltd., New Holland Agriculture, Foton Lovol, Escorts Group, JCB, Belarus Tractor Company, TYM Tractors, Apollo Tractors, Jinma Tractor, Zetor Tractors a.s. and Argo Tractors S.p.A.
Key Developments:
In August 2024, New Holland, a brand of CNH, introduced India's first domestically manufactured tractor exceeding 100 horsepower. The WORKMASTER 105, equipped with a TREM-IV emission standard-compliant engine, delivers advanced technology and performance to the Indian market.
In February 2024, Mahindra introduced 2 new sub-compact and compact tractor models at the National Farm Machinery Show. The new “Powered by OJA” tractors are designed to improve user experience with enhanced power comfort and features.
Tractor Types Covered:
• Utility Tractors
• Row Crop Tractors
• Orchard Tractors
• Compact Tractors
• Garden Tractors
• High-Horsepower
• Other Tractor Types
Fuel Types Covered:
• Diesel
• Gasoline
• Electric
• Hybrid
Tire Types Covered:
• Radial Ply Tires
• Bias Ply Tires
• Dual Tires
Applications Covered:
• Plowing & Cultivating
• Harvesting
• Hauling & Transporting
• Soil Preparation
• Irrigation
• Other Applications
End Users Covered:
• Individual Farmers
• Commercial
• Government
• Agricultural Contractors
• Other End Users
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2024, 2025, 2026, 2028, and 2032
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Application Analysis
3.7 End User Analysis
3.8 Emerging Markets
3.9 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Agricultural Tractors Market, By Tractor Type
5.1 Introduction
5.2 Utility Tractors
5.3 Row Crop Tractors
5.4 Orchard Tractors
5.5 Compact Tractors
5.6 Garden Tractors
5.7 High-Horsepower
5.8 Other Tractor Types
6 Global Agricultural Tractors Market, By Fuel Type
6.1 Introduction
6.2 Diesel
6.3 Gasoline
6.4 Electric
6.5 Hybrid
7 Global Agricultural Tractors Market, By Tire Type
7.1 Introduction
7.2 Radial Ply Tires
7.3 Bias Ply Tires
7.4 Dual Tires
8 Global Agricultural Tractors Market, By Application
8.1 Introduction
8.2 Plowing & Cultivating
8.3 Harvesting
8.4 Hauling & Transporting
8.5 Soil Preparation
8.6 Irrigation
8.7 Other Applications
9 Global Agricultural Tractors Market, By End User
9.1 Introduction
9.2 Individual Farmers
9.3 Commercial
9.4 Government
9.5 Agricultural Contractors
9.6 Other End Users
10 Global Agricultural Tractors Market, By Geography
10.1 Introduction
10.2 North America
10.2.1 US
10.2.2 Canada
10.2.3 Mexico
10.3 Europe
10.3.1 Germany
10.3.2 UK
10.3.3 Italy
10.3.4 France
10.3.5 Spain
10.3.6 Rest of Europe
10.4 Asia Pacific
10.4.1 Japan
10.4.2 China
10.4.3 India
10.4.4 Australia
10.4.5 New Zealand
10.4.6 South Korea
10.4.7 Rest of Asia Pacific
10.5 South America
10.5.1 Argentina
10.5.2 Brazil
10.5.3 Chile
10.5.4 Rest of South America
10.6 Middle East & Africa
10.6.1 Saudi Arabia
10.6.2 UAE
10.6.3 Qatar
10.6.4 South Africa
10.6.5 Rest of Middle East & Africa
11 Key Developments
11.1 Agreements, Partnerships, Collaborations and Joint Ventures
11.2 Acquisitions & Mergers
11.3 New Product Launch
11.4 Expansions
11.5 Other Key Strategies
12 Company Profiling
12.1 John Deere
12.2 CNH Industrial
12.3 AGCO Corporation
12.4 Kubota Corporation
12.5 Mahindra & Mahindra Ltd.
12.6 New Holland Agriculture
12.7 Foton Lovol
12.8 Escorts Group
12.9 JCB
12.10 Belarus Tractor Company
12.11 TYM Tractors
12.12 Apollo Tractors
12.13 Jinma Tractor
12.14 Zetor Tractors a.s.
12.15 Argo Tractors S.p.A.
List of Tables
1 Global Agricultural Tractors Market Outlook, By Region (2024-2032) ($MN)
2 Global Agricultural Tractors Market Outlook, By Tractor Type (2024-2032) ($MN)
3 Global Agricultural Tractors Market Outlook, By Utility Tractors (2024-2032) ($MN)
4 Global Agricultural Tractors Market Outlook, By Row Crop Tractors (2024-2032) ($MN)
5 Global Agricultural Tractors Market Outlook, By Orchard Tractors (2024-2032) ($MN)
6 Global Agricultural Tractors Market Outlook, By Compact Tractors (2024-2032) ($MN)
7 Global Agricultural Tractors Market Outlook, By Garden Tractors (2024-2032) ($MN)
8 Global Agricultural Tractors Market Outlook, By High-Horsepower (2024-2032) ($MN)
9 Global Agricultural Tractors Market Outlook, By Other Tractor Types (2024-2032) ($MN)
10 Global Agricultural Tractors Market Outlook, By Fuel Type (2024-2032) ($MN)
11 Global Agricultural Tractors Market Outlook, By Diesel (2024-2032) ($MN)
12 Global Agricultural Tractors Market Outlook, By Gasoline (2024-2032) ($MN)
13 Global Agricultural Tractors Market Outlook, By Electric (2024-2032) ($MN)
14 Global Agricultural Tractors Market Outlook, By Hybrid (2024-2032) ($MN)
15 Global Agricultural Tractors Market Outlook, By Tire Type (2024-2032) ($MN)
16 Global Agricultural Tractors Market Outlook, By Radial Ply Tires (2024-2032) ($MN)
17 Global Agricultural Tractors Market Outlook, By Bias Ply Tires (2024-2032) ($MN)
18 Global Agricultural Tractors Market Outlook, By Dual Tires (2024-2032) ($MN)
19 Global Agricultural Tractors Market Outlook, By Application (2024-2032) ($MN)
20 Global Agricultural Tractors Market Outlook, By Plowing & Cultivating (2024-2032) ($MN)
21 Global Agricultural Tractors Market Outlook, By Harvesting (2024-2032) ($MN)
22 Global Agricultural Tractors Market Outlook, By Hauling & Transporting (2024-2032) ($MN)
23 Global Agricultural Tractors Market Outlook, By Soil Preparation (2024-2032) ($MN)
24 Global Agricultural Tractors Market Outlook, By Irrigation (2024-2032) ($MN)
25 Global Agricultural Tractors Market Outlook, By Other Applications (2024-2032) ($MN)
26 Global Agricultural Tractors Market Outlook, By End User (2024-2032) ($MN)
27 Global Agricultural Tractors Market Outlook, By Individual Farmers (2024-2032) ($MN)
28 Global Agricultural Tractors Market Outlook, By Commercial (2024-2032) ($MN)
29 Global Agricultural Tractors Market Outlook, By Government (2024-2032) ($MN)
30 Global Agricultural Tractors Market Outlook, By Agricultural Contractors (2024-2032) ($MN)
31 Global Agricultural Tractors Market Outlook, By Other End Users (2024-2032) ($MN)
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.
List of Figures
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
For more details about research methodology, kindly write to us at info@strategymrc.com
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