Tractor Implements Market Size, Share & Analysis Report, 2023-2032
The global tractor implements market size was exhibited at USD 30.81 billion in 2022 and is projected to hit around USD 52.03 billion by 2032, growing at a CAGR of 5.38% during the forecast period 2023 to 2032.
Key Pointers:
Tractor Implements Market Report Scope
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Report Coverage |
Details |
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Market Size in 2023 |
USD 32.47 Billion |
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Market Size by 2032 |
USD 52.03 Billion |
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Growth Rate From 2023 to 2032 |
CAGR of 5.38% |
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Base Year |
2022 |
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Forecast Period |
2023 to 2032 |
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Segments Covered |
By Phase Type, By Power Type, and By Drive |
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Market Analysis (Terms Used) |
Value (US$ Million/Billion) or (Volume/Units) |
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Regional Scope |
North America; Europe; Asia Pacific; Central and South America; the Middle East and Africa |
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Key Companies Profiled |
Claas KGaA Mbh, Deere & Company, Kubota Corp, CNH Industrial N.V., Agco Corporation, Tractors and Farm Equipment Limited, SDF Group, Mahindra & Mahindra, J C Bamford Excavators Ltd., Actuant, Kuhn Group, Alamo Group, and Others. |
Rapid industrialization in the agriculture sector has resulted in increased expenditures on labor-intensive products, such as cultivators, harrows, and tillers, boosting industrygrowth. Furthermore, the increasing scarcity of skilled labor leads to the adoption of new equipment and tools, supportingindustry growth. For instance, according to the data published by the International Labor Organization (ILO), headquartered in Geneva, Switzerland, the percentage of people working in the agriculture sector globally decreased from 44% in 1991 to 26% in 2020.
Several companies have recently focused on launching tractor implements integrated with new technologies like GPS, Google Earth, and robotics due to the rising adoption among farmers, which is driving the industry growth. For instance, in March 2022, KUHN SAS based out in SAVERNE, France, launched a stubble cultivator for contractors and farmers, which is equipped with an operating speed of 15 kph and enables better cultivation of crops. Furthermore, several governments worldwide are investing in agricultural infrastructure expected to propel the industry forward. For instance, in 2020, the Chinese Ministry of Finance issued more than USD 2.8 billion in subsidies for agricultural machinery purchases.
It is expected that by 2025, China will have mechanized 75% of its crop plowing, planting, and harvesting processes. The rising adoption of modernized farm equipment is expected to fuel industry growth, which involves improving crop production and quality. Furthermore, the world’s rising population and increasing disposable income in various developing countries are increasing the global food demand. For instance, in July 2021, according to study findings by Wageningen University & Research, based out inthe Netherlands, food demand is expected to increase by between 35% to 56 % from 2010-2050.
This is shaping the market and boosting the adoption of various tractor implements to increase crop production. Several tractors implement manufacturers struggled to remain operational during the COVID-19 lockdowns, resulting in a sharp decline in business. The industry was negatively impacted in the first half of 2020. However, it bounced back and witnessed growth due to various significant global economies opening. In addition, manufacturers started adopting innovative strategies to recover from the pandemic.
For instance, in August 2021, Farmkart, an agricultural technology startup based out in India, launched rent4farm, a technology-enabled platform that provides unstructured agriculture equipment rental services. It offers competitive prices for renting advanced agriculture equipment and machinery.Although the prospects look promising, the industry is still faced with several challenges regarding the high capital costs of tractor implements, which is one of the bottlenecks for their adoption, especially for small farmers. Furthermore, farmers with small land holdings do not find it cost-effective to invest in tractor implements, which has resulted in one of the challenges hampering the industry growth.
Some of the prominent players in the Tractor Implements Market include:
Segments Covered in the Report
This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2032. For this study, Nova one advisor, Inc. has segmented the global Tractor Implements market.
By Phase Type
By Power Type
By Drive
By Region
Chapter 1. Introduction
1.1. Research Objective
1.2. Scope of the Study
1.3. Definition
Chapter 2. Research Methodology
2.1. Research Approach
2.2. Data Sources
2.3. Assumptions & Limitations
Chapter 3. Executive Summary
3.1. Market Snapshot
Chapter 4. Market Variables and Scope
4.1. Introduction
4.2. Market Classification and Scope
4.3. Industry Value Chain Analysis
4.3.1. Raw Material Procurement Analysis
4.3.2. Sales and Distribution Channel Analysis
4.3.3. Downstream Buyer Analysis
Chapter 5. COVID 19 Impact on Tractor Implements Market
5.1. COVID-19 Landscape: Tractor Implements Industry Impact
5.2. COVID 19 - Impact Assessment for the Industry
5.3. COVID 19 Impact: Global Major Government Policy
5.4. Market Trends and Opportunities in the COVID-19 Landscape
Chapter 6. Market Dynamics Analysis and Trends
6.1. Market Dynamics
6.1.1. Market Drivers
6.1.2. Market Restraints
6.1.3. Market Opportunities
6.2. Porter’s Five Forces Analysis
6.2.1. Bargaining power of suppliers
6.2.2. Bargaining power of buyers
6.2.3. Threat of substitute
6.2.4. Threat of new entrants
6.2.5. Degree of competition
Chapter 7. Competitive Landscape
7.1.1. Company Market Share/Positioning Analysis
7.1.2. Key Strategies Adopted by Players
7.1.3. Vendor Landscape
7.1.3.1. List of Suppliers
7.1.3.2. List of Buyers
Chapter 8. Global Tractor Implements Market, By Phase Type
8.1. Tractor Implements Market Revenue and Volume, by Phase Type, 2023-2032
8.1.1 Tillage
8.1.1.1. Market Revenue and Volume Forecast (2020-2032)
8.1.2. Irrigation & Crop Protection
8.1.2.1. Market Revenue and Volume Forecast (2020-2032)
8.1.3. Sowing & Planting
8.1.3.1. Market Revenue and Volume Forecast (2020-2032)
8.1.4. Harvesting & Threshing
8.1.4.1. Market Revenue and Volume Forecast (2020-2032)
8.1.5. Others
8.1.5.1. Market Revenue and Volume Forecast (2020-2032)
Chapter 9. Global Tractor Implements Market, By Power Type
9.1. Tractor Implements Market Revenue and Volume, by Power Type, 2023-2032
9.1.1. Powered
9.1.1.1. Market Revenue and Volume Forecast (2020-2032)
9.1.2. Unpowered
9.1.2.1. Market Revenue and Volume Forecast (2020-2032)
Chapter 10. Global Tractor Implements Market, By Drive
10.1. Tractor Implements Market Revenue and Volume, by Drive, 2023-2032
10.1.1. 2-wheel Drive
10.1.1.1. Market Revenue and Volume Forecast (2020-2032)
10.1.2. 4-wheel Drive
10.1.2.1. Market Revenue and Volume Forecast (2020-2032)
Chapter 11. Global Tractor Implements Market, Regional Estimates and Trend Forecast
11.1. North America
11.1.1. Market Revenue and Volume Forecast, by Phase Type (2020-2032)
11.1.2. Market Revenue and Volume Forecast, by Power Type (2020-2032)
11.1.3. Market Revenue and Volume Forecast, by Drive (2020-2032)
11.1.4. U.S.
11.1.4.1. Market Revenue and Volume Forecast, by Phase Type (2020-2032)
11.1.4.2. Market Revenue and Volume Forecast, by Power Type (2020-2032)
11.1.4.3. Market Revenue and Volume Forecast, by Drive (2020-2032)
11.1.5. Rest of North America
11.1.5.1. Market Revenue and Volume Forecast, by Phase Type (2020-2032)
11.1.5.2. Market Revenue and Volume Forecast, by Power Type (2020-2032)
11.1.5.3. Market Revenue and Volume Forecast, by Drive (2020-2032)
11.2. Europe
11.2.1. Market Revenue and Volume Forecast, by Phase Type (2020-2032)
11.2.2. Market Revenue and Volume Forecast, by Power Type (2020-2032)
11.2.3. Market Revenue and Volume Forecast, by Drive (2020-2032)
11.2.4. UK
11.2.4.1. Market Revenue and Volume Forecast, by Phase Type (2020-2032)
11.2.4.2. Market Revenue and Volume Forecast, by Power Type (2020-2032)
11.2.4.3. Market Revenue and Volume Forecast, by Drive (2020-2032)
11.2.5. Germany
11.2.5.1. Market Revenue and Volume Forecast, by Phase Type (2020-2032)
11.2.5.2. Market Revenue and Volume Forecast, by Power Type (2020-2032)
11.2.5.3. Market Revenue and Volume Forecast, by Drive (2020-2032)
11.2.6. France
11.2.6.1. Market Revenue and Volume Forecast, by Phase Type (2020-2032)
11.2.6.2. Market Revenue and Volume Forecast, by Power Type (2020-2032)
11.2.6.3. Market Revenue and Volume Forecast, by Drive (2020-2032)
11.2.7. Rest of Europe
11.2.7.1. Market Revenue and Volume Forecast, by Phase Type (2020-2032)
11.2.7.2. Market Revenue and Volume Forecast, by Power Type (2020-2032)
11.2.7.3. Market Revenue and Volume Forecast, by Drive (2020-2032)
11.3. APAC
11.3.1. Market Revenue and Volume Forecast, by Phase Type (2020-2032)
11.3.2. Market Revenue and Volume Forecast, by Power Type (2020-2032)
11.3.3. Market Revenue and Volume Forecast, by Drive (2020-2032)
11.3.4. India
11.3.4.1. Market Revenue and Volume Forecast, by Phase Type (2020-2032)
11.3.4.2. Market Revenue and Volume Forecast, by Power Type (2020-2032)
11.3.4.3. Market Revenue and Volume Forecast, by Drive (2020-2032)
11.3.5. China
11.3.5.1. Market Revenue and Volume Forecast, by Phase Type (2020-2032)
11.3.5.2. Market Revenue and Volume Forecast, by Power Type (2020-2032)
11.3.5.3. Market Revenue and Volume Forecast, by Drive (2020-2032)
11.3.6. Japan
11.3.6.1. Market Revenue and Volume Forecast, by Phase Type (2020-2032)
11.3.6.2. Market Revenue and Volume Forecast, by Power Type (2020-2032)
11.3.6.3. Market Revenue and Volume Forecast, by Drive (2020-2032)
11.3.7. Rest of APAC
11.3.7.1. Market Revenue and Volume Forecast, by Phase Type (2020-2032)
11.3.7.2. Market Revenue and Volume Forecast, by Power Type (2020-2032)
11.3.7.3. Market Revenue and Volume Forecast, by Drive (2020-2032)
11.4. MEA
11.4.1. Market Revenue and Volume Forecast, by Phase Type (2020-2032)
11.4.2. Market Revenue and Volume Forecast, by Power Type (2020-2032)
11.4.3. Market Revenue and Volume Forecast, by Drive (2020-2032)
11.4.4. GCC
11.4.4.1. Market Revenue and Volume Forecast, by Phase Type (2020-2032)
11.4.4.2. Market Revenue and Volume Forecast, by Power Type (2020-2032)
11.4.4.3. Market Revenue and Volume Forecast, by Drive (2020-2032)
11.4.5. North Africa
11.4.5.1. Market Revenue and Volume Forecast, by Phase Type (2020-2032)
11.4.5.2. Market Revenue and Volume Forecast, by Power Type (2020-2032)
11.4.5.3. Market Revenue and Volume Forecast, by Drive (2020-2032)
11.4.6. South Africa
11.4.6.1. Market Revenue and Volume Forecast, by Phase Type (2020-2032)
11.4.6.2. Market Revenue and Volume Forecast, by Power Type (2020-2032)
11.4.6.3. Market Revenue and Volume Forecast, by Drive (2020-2032)
11.4.7. Rest of MEA
11.4.7.1. Market Revenue and Volume Forecast, by Phase Type (2020-2032)
11.4.7.2. Market Revenue and Volume Forecast, by Power Type (2020-2032)
11.4.7.3. Market Revenue and Volume Forecast, by Drive (2020-2032)
11.5. Latin America
11.5.1. Market Revenue and Volume Forecast, by Phase Type (2020-2032)
11.5.2. Market Revenue and Volume Forecast, by Power Type (2020-2032)
11.5.3. Market Revenue and Volume Forecast, by Drive (2020-2032)
11.5.4. Brazil
11.5.4.1. Market Revenue and Volume Forecast, by Phase Type (2020-2032)
11.5.4.2. Market Revenue and Volume Forecast, by Power Type (2020-2032)
11.5.4.3. Market Revenue and Volume Forecast, by Drive (2020-2032)
11.5.5. Rest of LATAM
11.5.5.1. Market Revenue and Volume Forecast, by Phase Type (2020-2032)
11.5.5.2. Market Revenue and Volume Forecast, by Power Type (2020-2032)
11.5.5.3. Market Revenue and Volume Forecast, by Drive (2020-2032)
Chapter 12. Company Profiles
12.1. Claas KGaA Mbh
12.1.1. Company Overview
12.1.2. Product Offerings
12.1.3. Financial Performance
12.1.4. Recent Initiatives
12.2. Deere & Company
12.2.1. Company Overview
12.2.2. Product Offerings
12.2.3. Financial Performance
12.2.4. Recent Initiatives
12.3. Kubota Corp.
12.3.1. Company Overview
12.3.2. Product Offerings
12.3.3. Financial Performance
12.3.4. Recent Initiatives
12.4. CNH Industrial N.V.
12.4.1. Company Overview
12.4.2. Product Offerings
12.4.3. Financial Performance
12.4.4. Recent Initiatives
12.5. Agco Corporation
12.5.1. Company Overview
12.5.2. Product Offerings
12.5.3. Financial Performance
12.5.4. Recent Initiatives
12.6. Tractors and Farm Equipment Limited (TAFE)
12.6.1. Company Overview
12.6.2. Product Offerings
12.6.3. Financial Performance
12.6.4. Recent Initiatives
12.7. SDF Group
12.7.1. Company Overview
12.7.2. Product Offerings
12.7.3. Financial Performance
12.7.4. Recent Initiatives
12.8. Mahindra & Mahindra
12.8.1. Company Overview
12.8.2. Product Offerings
12.8.3. Financial Performance
12.8.4. Recent Initiatives
12.9. J C Bamford Excavators Ltd. (JCB)
12.9.1. Company Overview
12.9.2. Product Offerings
12.9.3. Financial Performance
12.9.4. Recent Initiatives
12.10. Actuant
12.10.1. Company Overview
12.10.2. Product Offerings
12.10.3. Financial Performance
12.10.4. Recent Initiatives
Chapter 13. Research Methodology
13.1. Primary Research
13.2. Secondary Research
13.3. Assumptions
Chapter 14. Appendix
14.1. About Us
14.2. Glossary of Terms
Cross-segment Market Size and Analysis for
Mentioned Segments
Additional Company Profiles (Upto 5 With No Cost)
Additional Countries (Apart From Mentioned Countries)
Country/Region-specific Report
Go To Market Strategy
Region Specific Market DynamicsRegion Level Market Share Import Export AnalysisProduction AnalysisOthers