The North America utility tractor market of USD XX million in 2016 is expected to reach USD XX million by 2021 at a CAGR of XX% over the forecast period. Utility tractors are high power operators, with compact design, and easy to use multiple functions, and are used for various purposes such as agriculture, landscaping, plowing, grounds keeping etc. The ease of fixing and detaching supporting parts is an important feature of this machine. Also, it is used in such farms where farmers cannot afford to keep multiple machineries for agricultural operations. North America is the leading market for utility tractors with a share of XX%.
The major drivers for the market are continuous innovation in technology in agri-machinery, minimizing the need for multi machinery for agriculture, an increase in demand for agriculture products as a result of growing population, government subsidies for agro machinery to farmers, efficient and potential use with low space requirement making it attractive to the farmers. However, the fluctuation in grain prices leading to lower farm income creates unwillingness amongst farmers to invest in equipment. The availability of other similar functioning machinery for agriculture, high power and energy requirement and growing urbanization resulting in the decrease of farmland are factors affecting the market.
Market segmentation of utility tractors is categorized by application, drive, and geography. By application type, the market is segmented into dairy field operations, hay & agriculture products operations and landscaping. Utility tractors have major applications in hay and agriculture products. The market segment by drive includes pedestrian and wheeled type. The wheeled type market is sub segmented into two, three and four wheel type. Two-wheeled tractors are extremely common in agricultural operations worldwide and have the highest market share among others.
Key Industry Players
The leaders in the market include:
- Deere and Company
- CNH Global NV
- Mahindra & Mahindra Ltd.
- AGCO Tractor
- Farmtrac Tractor Europe
- Massey Ferguson
Key Deliverables in the Study
- Market analysis for the North America utility tractor market, with region specific assessments and competition analysis on national 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 national 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 North America utility tractor market on both national 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.
1.1 Key Deliverables of the Study
1.2 Study Assumptions
1.3 Market Definitions
2. Research Approach and Methodology
2.2 Research Design
2.3 Study Timelines
2.4 Study Phases
2.4.1 Secondary Research
2.4.2 Discussion Guide
2.4.3 Market Engineering & Econometric Modelling
2.4.4 Expert Validation
3. Key Findings of the Study
4. Market Overview
4.2 Market Dynamics
22.214.171.124 Increased Demand for High Power Tractor in the Region
126.96.36.199 High Agriculture Productivity in the Region
188.8.131.52 Minimizing the Need for Multiple Agri-Machinery
184.108.40.206 Government Subsidies for Farm Mechanization
220.127.116.11 Growth in Population and Need for Agriculture Productivity
18.104.22.168 Scarcity of Labor
22.214.171.124 Availability of Other Similar Functioning Agri-Machinery
126.96.36.199 High Energy Requirement
188.8.131.52 Fluctuation in Grain Price and Lower Farm Income of Farmers
184.108.40.206 Growing Urbanization and Decreasing Farmland
220.127.116.11 Shorter Replacement Cycle of Tractors Boost Sales Volume
18.104.22.168 Use of Tractors for Non-Agriculture Purpose
4.2.4 Porter's Five Forces Analysis
22.214.171.124 Bargaining Power of Suppliers
126.96.36.199 Bargaining Power of Buyers
188.8.131.52 Threat of New Entrants
184.108.40.206 Threat of Substitute Products and Services
220.127.116.11 Degree of Competition
5. Market Segmentation
5.1 By Application
5.1.1 Dairy Farmland
5.1.2 Hay & Agriculture Products
5.2 By Drive Type
18.104.22.168 Two Wheels
22.214.171.124 Three Wheelers
126.96.36.199 Four Wheelers
5.3 By Geography
5.3.1 North America
6. Competitive Landscape
6.1 Mergers & Acquisitions
6.2 Joint Ventures
6.3 New Product Launches
6.4 Most Active Companies by Market Strategies
6.5 Market Share Analysis
7. Company Profiles
7.1 Deere and Company
7.2 CNH Global NV
7.3 Mahindra & Mahindra Ltd.
7.4 AGCO Tractor
7.5 Farmtrac Tractor Europe
7.6 Kubota Tractor Corp
7.7 McCormick Tractors
7.8 Case IH
7.10 Claas Tractor
7.11 Kioti Tractor
7.12 Belarus Tractor
7.13 Massey Ferguson Tractor
7.14 Caterpillar Inc.
7.15 SAME Deutz-Fahr
7.19 Daedong-USA Inc.