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

The Asia-Pacific wheeled tractor machinery market, estimated at USD XX billion in 2016 is expected to reach USD XX billion by 2021, at a CAGR of 6.8% over the forecast period. Tractors provide the power and traction to automate agricultural jobs, especially tillage. Agricultural implements are towed behind a tractor, providing a source of power for the mechanization of implements. The agricultural usage of tractors is the largest segment in the agricultural machinery sector. Ease of working and improvement in efficiency are some of the reasons why tractors are popularly employed by farmers.

Market Dynamics

The demand from emerging economies and the high level of government support in these regions are fueling the growth of the industry. India leads the market with the highest number of tractors purchased in the world, followed by China. Agriculture is the backbone of India with 60.6% geographical area being agricultural land. China, with 300 million agricultural employees, produces food for 20% of the world’s population with only 10% arable land worldwide. The Japanese use highly technical equipment for agriculture.

The driving forces of the market are increasing population, growing demand for food, the necessity to amplify yield and productivity. Opportunities lie in higher market penetration in the developing nations like China and India, where machinery use in agriculture is growing. In addition, government subsidies and incentives aid the growth of the wheeled tractor market to a great extent. However, food security issues along with lower purchasing power in the developing regions appear to be a hindrance to the otherwise lucrative market.

Market Segmentation

By wheel tractor type, the market is segmented into:

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

On the basis of geography, the market is segmented into China, Japan, India, Australia, and others.

Key Industry Players

The major companies in Asia-Pacific wheeled tractor machinery market are:

• AGCO Tractor
• Belarus Tractor
• Case IH
• Caterpillar Inc.
• CLAAS Tractor
• CNH Global NV
• Deere and Company
• Escorts
• Farmtrac Tractor
• Fendt
• Kioti Tractor
• Kubota Tractor Corp
• Mahindra & Mahindra Ltd.
• Massey Ferguson Tractor
• McCormick Tractors
• Valtra

Key Deliverables in the Study

• Market analysis for the Asia-Pacific wheeled tractor machinery market, with region specific assessments and competition analysis on Asia-Pacific and regional scales.
• Market definition along with the identification of key drivers and restraints.
• Identification of factors instrumental in changing the market scenarios, rising prospective opportunities, and identification of key companies that can influence this market on Asia-Pacific and regional scales.
• Extensively researched competitive landscape section with profiles of major companies along with their market shares.
• Identification and analysis of the macro and micro factors that affect the Asia-Pacific wheeled tractor machinery market on both Asia-Pacific and regional scales.
• A comprehensive list of key market players along with the analysis of their current strategic interests and key financial information.
• Wide-ranging knowledge and insights about the major players in this industry and the key strategies adopted by them to sustain and grow in the studied market.
• Insights into the major countries/regions in which this industry is growing and identifying the regions still untapped.