The North American agricultural tractor machinery market of USD XX million in 2016 is estimated to reach a value of USD XX million by 2021 at a CAGR of XX%. With changing industrial trends, leading to the development of more sophisticated agricultural machinery, farming methods have taken a giant leap forward. The first tractor came into use in the late 19th century. This equipment increased the productivity of the producer, improved the quality of product and reduced the hazards of operations. However, with developing technology, in the foreseeable future, driverless tractors, which use GPS maps and electronic sensors, may come into play.
Market Dynamics
The several subsidies by the government for farm mechanization is driving the market. The increasing modernization and decrease in farmland is a hindrance to the growth of the tractor market. The agricultural tractors are also being used in several other non-agricultural applications such as sand mines, brick kilns, road making etc., thus providing an opportunity for growth for the key players in the market. However, most of these tractors have much lower average power than the tractors used in the mainly large scale farming structures in major agricultural countries like the US.
Market Segmentation
The market has been segmented based on product type into pedestrian and wheeled tractors. Depending on the end applications, the market is segmented into utility, row crop, orchard type, industrial, garden, rotary tillers, implement carriers, and earth moving tractors.
Key Industry Players
Major companies operating in the segment, which are constantly trying to increase their presence and market share by several strategies include:
- Deere and Company
- CNH Global NV
- Mahindra & Mahindra Ltd.
- AGCO Tractor
- Farmtrac Tractor Europe
- Massey Ferguson
- Escorts
Key Deliverables in the Study
- Market analysis for the North American agricultural tractor machinery market, with region specific assessments and competition analysis.
- 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.
- 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 North American agricultural tractor machinery market.
- 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.
