Utility Tractor Market
The global 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 compact versions of agriculture tractor and are used for various agriculture operations and non-agriculture purpose. It has high potential, low-priced, more user-friendly and requires limited space. They are perfectly designed for wide applications such as landscaping, grounds keeping, and agricultural operations. The innovative technological construction type of drive has made it much efficient for agriculture purpose, like pulling and powering implements such as hay mowers, balers, disc hallows. The major end-users for the market include agriculture farmers, dairy farmers, and landscape contractors.
The major drivers for the market include an increase in demand for agriculture products as a result of growing population, government subsidies for agro machinery to farmers, growth in adoption in developing countries and enhancement in technology. However, the high cost of tractors and low purchasing power of farmers creates unwillingness amongst them to invest in equipment. The high power and energy requirement for tractors, mounting 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.
Extensive farming in North America, South America, and Europe requires high power tractors and the utility tractor has a major market in these regions.
Key Industry Players
Major companies operating in the segment are:
- Deere and Company
- CNH Global NV
- Mahindra & Mahindra Ltd.
- AGCO Tractor
- Farmtrac Tractor Europe
- Massey Ferguson
The major players focus on new product innovation with low power consumption and less space requirement for best usage of agri-machinery by users. The majority of companies involved are multinational with a strategy to invest in countries with low labor cost to attain competitive advantage.
Key Deliverables in the Study
- Market analysis for the global utility tractor market, with region specific assessments and competition analysis on global 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 global 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 global utility tractor market on both global 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
220.127.116.11 New Innovation in Agri-Machinery
18.104.22.168 Growing Population and Need for Agri-Products
22.214.171.124 Government Subsidies for Farm Mechanization
126.96.36.199 Growth in Adoption in Developing Regions
188.8.131.52 Low Purchasing Power for Farmers and High-Cost
184.108.40.206 High Energy Requirement
220.127.116.11 Growing Urbanization and Decreasing Farmland
18.104.22.168 Shorter Replacement Cycle of Tractors Boost Sales Volume
22.214.171.124 Higher Tractor Penetration in Developing Countries like India, South Africa Etc.
126.96.36.199 Use of Tractors for Non-Agriculture Purpose
4.2.4 Porter's Five Forces Analysis
188.8.131.52 Bargaining Power of Suppliers
184.108.40.206 Bargaining Power of Buyers
220.127.116.11 Threat of New Entrants
18.104.22.168 Threat of Substitute Products and Services
22.214.171.124 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
126.96.36.199 Two Wheels
188.8.131.52 Three Wheelers
184.108.40.206 Four Wheelers
5.3 By Geography
5.3.1 North America
5.3.4 South America
220.127.116.11 South Africa
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.