Market Size of Germany Agricultural Tractor Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 4.90 % |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Germany Agricultural Tractor Market Analysis
Germany's agricultural tractor machinery market is projected to register a CAGR of 4.9% during the forecast period.
- The two-wheel-drive segment accounted for more than 85% of the overall tractor market. The 50-100 HP segment accounted for the largest market share and is expected to grow at a CAGR of 5.04% (by volume) during the forecast period.
- According to the European Agricultural Machinery Association (EAMA), there was an increase of 5% in the pre-registrations of tractors in 2019 compared to the previous year. The sales of the tractors reflected a positive trend. Also, according to The Mechanical Engineering Industry Association (VDMA), in 2019, farmers and other custom operators bought around 570 more agricultural tractors resulting in a 2.6% increase in sales compared to 2018. The sub-50 horsepower compact sector contributed more to the tractor market growth in 2019, selling 730 units. This results in the growth of the market.
- The biggest tractor markets in the European Union are Germany and France. The country generates more than 27% of the agricultural machinery and equipment components manufactured in Europe. Thus, Germany has become one of the leaders in producing agricultural machinery in Europe, which signifies its dominance in the agricultural tractors market. With the availability of advanced technology, coupled with the declining availability of farm labor, the farmers are shifting toward using tractors in agriculture, as they save time and resources, decrease costs, and enhance productivity.
- Market players are also launching web-based applications to connect better with consumers and increase their market penetration. Deutz-Fahr launched the mySAME and myDEUTZ-FAHR apps in Germany in 2019 to provide information on the new products and interact directly with the manufacturers. Owing to the dominance of the country in agricultural technology and the growing sales of tractors, the market is anticipated to grow during the forecast period.
