Asia-Pacific Wheeled Tractor Machinery Market (2017 - 2022)

Published - Jan 2017 | Category - Agriculture | No. of Pages - 116 | Published By - Mordor Intelligence

Report Highlights

The Asia-Pacific wheeled tractor machinery market has been estimated at USD XX.X billion in 2016 and is expected to reach USD XX.X billion by 2021 at a CAGR of 6.8% during the forecast period from 2016 to 2021. Tractors provide the power and traction to automate agricultural jobs, especially tillage. However, they are used in varied tasks even outside agriculture. Agricultural implements are towed behind a tractor, which provides a source of power for the mechanization of implements. The agricultural usage of tractors is the largest segment in the agricultural machinery sector. Ease of working and improvement in efficiency are some of the reasons why tractors are popularly employed by farmers. Besides, demand from emerging economies and the high level of government support in these regions is fueling the growth of the industry.

India leads the market with the highest number of tractors purchased in the world, followed by China as of 2016. Agriculture is the backbone of India with 60.6% geographical area being agricultural land. China, with 300 million agricultural employees, produces food for 20% of the world’s population with only 10% arable land worldwide. The Japanese use highly technical equipment for agriculture.

Market Dynamics

The driving forces of the market are increasing population, growing demand for food, the necessity to increase yields, and increase in productivity. The future of the wheeled tractor machinery market appears to be optimistic. Opportunities lie in higher market penetration in the developing nations like China and India where machinery use in agriculture is growing. In addition, government subsidies and incentives aid the growth of the wheeled tractor market to a great extent. However, food security issues along with lower purchasing power in the developing regions appear to be a hindrance to the otherwise lucrative market.

Market Segmentation

The report has been segmented based on the wheel tractor type and by geography.

By wheel tractor type, the market is segmented into:

Utility Tractors

Row crop tractors

Orchard type tractor

Industrial Tractor

Garden Tractor

Rotary tillers

Implement Carrier

Earth Moving Tractor

On the basis of geography, the market is segmented into China, Japan, India, Australia, and Others.

The major companies in Asia-Pacific wheeled tractor machinery market are:

AGCO tractor

Belarus Tractor

Case IH

Caterpillar Inc.

Claas Tractor

CNH Global NV

Deere and Company

Escorts

Farmtrac Tractor

Fendt

Kioti Tractor

Kubota Tractor Corp

Mahindra & Mahindra Ltd.

Massey Ferguson Tractor

McCormick Tractors

Valtra

 

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