Turkey Agricultural Tractor Market Size

Turkey Agricultural Tractor Market Analysis

The Turkish agricultural tractor market is projected to register a CAGR of 6.1% over the forecast period.

• Turkey's tractor market has been continuously growing. The decrease in the total agricultural area and the expansion of fragmented land prevented agricultural production from achieving expected levels. While the organic growth of sales of tractors is delivering a year-on-year increase, more than 45% of the tractors currently operating on farms across the country can be placed under the age range above 25 years. Among all, 60+ HP range tractors are most popular among farmers owing to the convenience of carrying out multiple operations.
• TurkTraktor, the major player in the Turkish tractor market with the highest tractor volume of 28,000-33,000 units and occupying 15,500 units with local tractor sales, worked to prevent the disruption of agricultural operations amid coronavirus outbreaks with 147 R&D centers employees, of which 123 are research. TurkTraktor launched its Online Training Program in April 2020 to share the technical knowledge that will enable farmers to get higher efficiency from their greatest companions, their tractors, and related agricultural equipment in the pandemic days when agricultural productivity is even more critical than before.
• The domestic market for tractors has been steadily increasing on account of the increased value generated by the country's agricultural businesses. There has also been a robust demand for the export market of Turkish tractors since they are observed to be highly price-competitive compared to those from Europe. The tractor export has increased from 20,309 units to 23,135 units from 2020-2021. The major export markets for Turkish tractors included Ukraine, Australia, and Algeria, which together accounted for exports worth USD 22 billion in 2020.