China Agricultural Tractor Machinery Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

The Chinese agricultural tractor machinery market is segmented by Horsepower (25-100 HP and Above 100 HP)

Market Snapshot

Market Snapshot
Study Period: 2016 - 2026
Base Year: 2020
CAGR: 1.5 %

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

Market Overview

The Chinese agricultural tractor machinery market is projected to register a CAGR of 1.5% during the forecast period of 2020-2025.

  • the growing preference for farm mechanization and an increase in the number of government-funded policies are promoting the market's growth. China has introduced ‘Made in China 2025’ scheme which aims at focusing on producing 90% of its own agricultural equipment with high-end machines, like agricultural tractors, holding a one-third share of their segments by 2020. This, in turn, boosts indigenously produced tractors leading to the agricultural tractor market in the country.
  • Deere & Company, CNH Industrial NV, AGCO Corporation, and Shandong Wuzheng Group Co. Ltd are some of the major players operating in this market.

Scope of the report

For this report, tractors used in agricultural operations, especially four-wheeled tractors, have been considered. The report does not cover other agricultural machinery and attachments for tractors. Tractors used for industrial and construction purposes are also excluded from the study. The agricultural tractors market is segmented by engine power into 25-100 HP and Above 100 HP.

By Horsepower
25-100 HP
Above 100 HP

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

Key Market Trends

Growing Preference For Farm Mechanization

There is a growing need for farm mechanization in the region, as farmer's income has not been able to keep pace, such as to cater to the increasing cost of production, including labor wages. Farm mechanization, such as using tractors in agriculture, will reduce the wage-labor costs as less man-power is used for farming, besides enhancing manpower productivity. There is an urgent need for farm mechanization in crops such as rice, wheat, corn, potato, oilseed rape, cotton, and sugarcane to boost production. Tractors (of 25-100 HP) are dominating the market currently, owing to the low cost of purchase, compared to high-end tractors. Several regional regulatory bodies such as China Agricultural Industry Mechanization Association promotes farm mechanization in the country, by educating both co-operatives and individual farmers, about the benefits of using high-horsepower tractors in larger farm areas. Thus, the rapid increase in farm mechanization by farmers across the region is driving the sales of tractors, thereby promoting the growth of the market.

china-agricultural-tractor-machinery-market

To understand key trends, Download Sample Report

Favorable Government Policies is Supporting the Market Growth

China has a lack of effective supply of agricultural machinery, which includes tractors, due to low-end production capacity. It cannot meet the full-scale agricultural diversification needs, due to inadequate technologies supporting product growth. In order to boost the domestic production of farm machinery, the Chinese government framed a new agricultural machinery subsidy policy for the purchase of agricultural machinery, including tractors. The types of subsidy equipment cover 45 items in 23 categories and 11 categories, including farming and land preparation machinery, planting and fertilizing machinery, and field management machinery. The buyers of tractors above 60 HP and above can enjoy a subsidy of CNY 150,000.

Capture.PNG

Competitive Landscape

Deere & Company, CNH Industrial NV, AGCO Corporation, and Shandong Wuzheng Group Co. Ltd are some of the major players operating in this market. These companies are making strategic partnerships by partnering with domestic companies to expand their distribution network and launch new innovative tractors that cater to the needs of the farmers in this region.

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions and 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 Porter's Five Forces Analysis

      1. 4.4.1 Bargaining Power of Suppliers

      2. 4.4.2 Bargaining Power of Buyers

      3. 4.4.3 Threat of New Entrants

      4. 4.4.4 Threat of Substitute Products and Services

      5. 4.4.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 By Horsepower

      1. 5.1.1 25-100 HP

      2. 5.1.2 Above 100 HP

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Most Adopted Strategies

    2. 6.2 Market Share Analysis

    3. 6.3 Company Profiles

      1. 6.3.1 Deere & Company

      2. 6.3.2 CNH Industrial NV

      3. 6.3.3 AGCO Corporation

      4. 6.3.4 Kubota Corporation

      5. 6.3.5 Tractors and Farm Equipment Limited

      6. 6.3.6 YTO Group Corporation

      7. 6.3.7 Shandong Wuzheng Group Co. Ltd

      8. 6.3.8 Shandong Shifeng (Group) Co. Ltd

    4. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

**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 China Agricultural Tractors Market market is studied from 2016 - 2026.

The China Agricultural Tractors Market is growing at a CAGR of 1.5% over the next 5 years.

Deere & Company, AGCO Corporation, Tractors and Farm Equipment Limited, YTO Group Corporation, Shandong Wuzheng Group Co. Ltd are the major companies operating in China Agricultural Tractors 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!