Global Utility Tractor Market - By Product Type, Application and Geography-Market Shares, Forecasts And Trends (2017 - 2022)

Published - Jan 2017 | Category - Agriculture | No. of Pages - 165 | Published By - Mordor Intelligence

Report Highlights

The global utility tractor market was XX million US$ in 2014 and expected to reach XX million US$ by 2020 growing at a CAGR of XX% during the forecasted period 2015-2020. Utility tractor is a compact and smaller version of agriculture tractor which are used for various agriculture operations and other non-agriculture purpose also. It has high potential, multiple purpose usage, and low price, more user friendly and requires limited space.

Utility tractors are perfect designed for wide applications such as landscaping, grounds keeping, and for agriculture operations. The innovative technological construction, type of drive has made it much efficient use for agriculture purpose, for pulling and powering implements such as hay mowers, balers, disc hallows. The main end user for the market are agriculture farmers, Dairy farmers, and landscape contractors.

The major driver for the market are increase in demand of 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. The efficient and potential use with low space requirement making it attractive to the farmers is driving the market. However the high cost of tractors and low purchasing power of farmers creates unwillingness for farmers to invest in the purchasing equipment’s. The high power and energy requirement for tractors to complete the agriculture operations are also affecting the market. Growing urbanization has resulted in decrease of farmland which is also major factor affecting its market growth.

Market segmentation of utility tractors are categorised by the application type, by drive type and by geography. In the application type market is further segmented into three types as dairy field operations, hay & agriculture products operations and landscaping. Utility tractors have major applications in hay and agriculture products. The market segment by drive type includes pedestrian type and wheeled type. Wheeled type market is sub segmented into two, three and four wheel type. Wheel type utility tractor has a major market than the track type. Two wheeled tractors are extremely common in the agriculture operations worldwide and has the highest market share among others.

The market segmentation according to geography is divided into the North America, Europe, Asia Pacific, South America and Global. The extensive use of farming in North America, South America and Europe requires high power tractors and the utility tractor has a major market in these regions.

The new technological advancement which is continuously working on providing modified feature tractors is paving a good opportunity for the market. However high cost and power requirement is still a big challenge for the growing market. Major companies operating in the segment are Deere and Company, CNH Global NV, Mahindra & Mahindra Ltd., AGCO tractor, Farmtrac Tractor Europe, Massey Ferguson, and Escorts etc. The major player focuses on new product innovation with low power consumption and les space requirement for best usage of agrimachinery by users. Also majority of companies involved are multinational with strategy to invest in countries with low labour cost to attain competitive advantage.

Key Deliverables

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 a Global and regional scale

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

A 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 on the major countries/regions in which this industry is blooming and to also identify the regions that are still untapped

 

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