Asia-Pacific Utility Tractor Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

The Asia Pacific utility tractor market is segmented by countries such as China, Japan, India, Australia, and the rest of Asia-Pacific.

Market Snapshot

utility tractors
Study Period: 2016 - 2026
Base Year: 2020
CAGR: 2.9 %

Need a report that reflects how COVID-19 has impacted this market and its growth?

Market Overview

The Asia-Pacific utility tractors market is projected to register a CAGR of 2.9% during the forecast period (2020-2025). Due to the low disposable income of farmers and high labor costs, farmers prefer small and customized compact/utility tractors for agricultural purposes due to small farmland sizes. Moreover, lesser fuel consumption by small tractors helps to empower small and marginal farmers. The trend behind the increase in farm mechanization in China has been due to increased investments in agriculture and technological development. All these factors are said to drive market growth during the study period. Deere and Company, AGCO Corp, Kuhn Group, Kubota Tractor Corp. Mahindra & Mahindra Ltd. and International Tractors Limited are some of the leading players in this region.

Scope of the report

The tractors used in agricultural operations between 35 HP-100 HP, especially four-wheeled tractors, have been considered for the study. The report does not cover other agricultural machinery and attachments to tractors. Tractors used for industrial and construction purposes are also excluded from the study.

Geography
Asia Pacific
China
Japan
India
Australia
Rest of Asia-Pacific

Report scope can be customized per your requirements. Click here.

Key Market Trends

Increasing Cost of Farm Labour

The cost of farm labor is directly proportional to the cost of production, hence increasing labor wages and lack of farm labor have led to the increasing rates of mechanization in the region. This is driving the growth of the utility tractor market. Farmers are increasingly adopting agricultural mechanization as a substitute for manual labor with a more cost-effective, easily available, and more efficient means of agricultural operation. According to the world bank, the employment rate in agriculture is declining. For instance, in 2016 the agricultural employment rate in China was 27.7% which declined to 26.6% in 2019. Additionally, in India, the employment rate has been declining every year. In 2019 the employment rate in agriculture declined to 43. 21% as against 45.12% in 2016. The trend is further expected to continue, thus driving the market.

Asia-Pacific Utility Tractor Market

Rise in Technological Advancements

Farmers in the Asia Pacific region are looking for utility tractors with tailored features, which can fulfill their needs for effective farming. So, to meet consumer demand, many international and domestic agriculture machinery manufacturers are coming up with new technologically-advanced utility tractors, which can handle various farming applications. For instance, in 2019, Mahindra & Mahindra, a leading tractor manufacturer launched ARJUN NOVO 605 DI-I, a 50 HP technologically-advanced tractor that can handle 40 applications, including puddling, harvesting, reaping, and haulage. Further, the tractor can deliver uniform and consistent power with minimum RPM drop in all soil conditions.

Asia Pacific Tractors table.jpg

Competitive Landscape

The Asia-Pacific utility tractors market is highly consolidated with very few players cornering the majority of the market share. New product launches, partnerships, and acquisitions are the major strategies adopted by the leading companies in the market, globally. Along with innovations and expansions, investments in R&D and developing novel product portfolios are likely to be crucial strategies in the coming years.

Deere and Company, AGCO Corp, Kuhn Group, Kubota Tractor Corp. Mahindra & Mahindra Ltd. and International Tractors Limited are some of the leading players in this region.

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions & Market Definition

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Overview

    2. 4.2 Market Drivers

    3. 4.3 Market Restraints

    4. 4.4 Industry Attractiveness - Porter's Five Force Analysis

      1. 4.4.1 Bargaining Power of Suppliers

      2. 4.4.2 Bargaining Power of Buyers/Consumers

      3. 4.4.3 Threat of New Entrants

      4. 4.4.4 Threat of Substitute Products

      5. 4.4.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 Geography

      1. 5.1.1 Asia Pacific

        1. 5.1.1.1 China

        2. 5.1.1.2 Japan

        3. 5.1.1.3 India

        4. 5.1.1.4 Australia

        5. 5.1.1.5 Rest of Asia-Pacific

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Most Adopted Competitor Strategies

    2. 6.2 Market Share Analysis

    3. 6.3 Company Profiles

      1. 6.3.1 Claas KGaA mbH

      2. 6.3.2 Mahindra & Mahindra Ltd

      3. 6.3.3 Kubota Agricultural Machinery

      4. 6.3.4 Deere & Company

      5. 6.3.5 Yanmar Co. Ltd

      6. 6.3.6 Kuhn Group

      7. 6.3.7 CNH Global NV

      8. 6.3.8 Massey Ferguson

      9. 6.3.9 Escorts Limited

      10. 6.3.10 International Tractors Limited

      11. 6.3.11 AGCO Corp

  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

  8. 8. IMPACT OF COVID-19

**Subject to Availability

You can also purchase parts of this report. Do you want to check out a section wise price list?

Frequently Asked Questions

The Asia-Pacific Utility Tractor Market market is studied from 2016 - 2026.

The Asia-Pacific Utility Tractor Market is growing at a CAGR of 2.9% over the next 5 years.

Mahindra & Mahindra Ltd., AGCO Corporation, Deere & Company, Kubota Agricultural Machinery India Pvt. Ltd., Massey Ferguson are the major companies operating in Asia-Pacific Utility Tractor Market.

80% of our clients seek made-to-order reports. How do you want us to tailor yours?

Please enter a valid email id!

Please enter a valid message!