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The agricultural tractor market in North America covers the following areas:
Agricultural Tractor Market in North America - Drivers & Challenges
The introduction of driverless agricultural tractors is one of the key drivers supporting the agricultural tractor market growth in North America. The global population has seen rapid growth, accompanied by greater environmental awareness, and therefore farmers must produce more food more sustainably with the same amount of land. Ultimately, autonomous technology will make a difference in the years to come. The factors that will drive the adoption of autonomous tractors are freeing up skilled labor, which can be redeployed, 24/7 working capability, advanced obstacle detection, and others. Such factors are expected to drive market growth during the forecast period.
However, the availability of agricultural tractors on a rental basis is hindering the agricultural tractor market growth in North America. Renting agricultural equipment is a global trend based on the needs of the farmers. The purchase of high-cost machinery is not an option for small-scale farmers who use tractors for a period of three to six months. This is because the average time a tractor is used on the field is 120 days per year.
Therefore, it is much more feasible for a small-scale farmer to rent the equipment instead of purchasing it. As more farmers opt for agricultural tractors on a rental basis, it curtails the growth prospects of new units of agricultural tractors.
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Agricultural Tractor Market in North America - Segmentation & Revenue Generating Segment
The agricultural tractor market in North America analysis includes segmentation by engine capacity (low power, mid-power, and high power) and geography (US, Canada, and Mexico).
The agricultural tractor market share growth in North America by the low power segment will be significant for revenue generation. On average, a low-power agricultural tractor with 24 hp consumes about one liter of fuel per hour. This is opposed to 14 liters of fuel consumption in tractors with 150 hp. This efficiency attracts various small and mid-sized farmers to purchase low-power agricultural tractors. Thus, the popularity of low-hp agricultural tractors has increased over the years and is expected to drive market growth during the forecast period.
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Companies Mentioned
The agricultural tractor market in North America is fragmented and the vendors are deploying growth strategies such as price, quality, innovation, reputation, brand identity, and distribution to compete in the market. The report analyzes the market's competitive landscape and offers information on several market vendors, including:
- AGCO Corp.
- CLAAS KGaA mbH
- CNH Industrial NV
- Deere and Co.
- Escorts Ltd.
- Kubota Corp.
- Kverneland AS
- Mahindra & Mahindra Ltd.
- SDF SpA
- Tractors and Farm Equipment Ltd.
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Agricultural Tractor Market Scope in North America |
Report Coverage |
Details |
Page number |
120 |
Base year |
2021 |
Forecast period |
2022-2026 |
Growth momentum & CAGR |
Accelerate at a CAGR of 2.43% |
Market growth 2022-2026 |
25.98 th units |
Market structure |
Fragmented |
YoY growth (%) |
1.59 |
Regional analysis |
US, Canada, and Mexico |
Performing market contribution |
US at 77% |
Key consumer countries |
US, Canada, and Mexico |
Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
Key companies profiled |
AGCO Corp., CLAAS KGaA mbH, CNH Industrial NV, Deere and Co., Escorts Ltd., Kubota Corp., Kverneland AS, Mahindra & Mahindra Ltd., SDF SpA, and Tractors and Farm Equipment Ltd. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
Table of Contents:
1. Executive Summary
2. Market Landscape
2.1 Market ecosystem
Exhibit 01: Parent market
2.2: Market Characteristics
Exhibit 02: Market Characteristics
2.2 Value chain analysis
Exhibit 03: Value chain analysis: Agricultural and farm machinery
2.2.1 Input
2.2.2 Inbound logistics
2.2.3 Operations
2.2.4 Distribution and logistics
2.2.5 Marketing and sales
2.2.6 After-sales services
2.2.7 Innovations
3. Market Sizing
3.1 Market definition
Exhibit 04: Offerings of vendors included in the market definition
3.2 Market segment analysis
Exhibit 05: Market segments
3.3 Market size 2020
3.4 Market outlook: Forecast for 2020 - 2025
3.4.1 Estimating growth rates for emerging and high-growth markets
3.4.2 Estimating growth rates for mature markets
Exhibit 06: North America - Market size and forecast 2021 - 2026 (thousand units)
Exhibit 07: North America market: Year-over-year growth 2021 - 2026 (%)
4. Five Forces Analysis
4.1 Five Forces Summary
Exhibit 08: Five forces analysis 2021 & 2026
4.2 Bargaining power of buyers
Exhibit 09: Bargaining power of buyers
4.3 Bargaining power of suppliers
Exhibit 10: Bargaining power of suppliers
4.4 Threat of new entrants
Exhibit 11: Threat of new entrants
4.5 Threat of substitutes
Exhibit 12: Threat of substitutes
4.6 Threat of rivalry
Exhibit 13: Threat of rivalry
4.7 Market condition
Exhibit 14: Market condition - Five forces 2021
5 Market Segmentation by Engine capacity
5.1 Market segments
The segments covered in this chapter are:
- Low power
- Mid power
- High power
Exhibit 15: Engine capacity - Market share 2021-2026 (%)
5.2 Comparison by Engine capacity
Exhibit 16: Comparison by Engine capacity
5.3 Low power - Market size and forecast 2021-2026
Exhibit 17: Low power - Market size and forecast 2021-2026 (thousand units)
Exhibit 18: Low power - Year-over-year growth 2021-2026 (%)
5.4 Mid power - Market size and forecast 2021-2026
Exhibit 19: Mid power - Market size and forecast 2021-2026 (thousand units)
Exhibit 20: Mid power - Year-over-year growth 2021-2026 (%)
5.5 High power - Market size and forecast 2021-2026
Exhibit 21: High power - Market size and forecast 2021-2026 (thousand units)
Exhibit 22: High power - Year-over-year growth 2021-2026 (%)
5.6 Market opportunity by Engine capacity
Exhibit 23: Market opportunity by Engine capacity
6 Customer landscape
6.1 Overview
Exhibit 24: Customer landscape
7 Geographic Landscape
7.1 Geographic segmentation
Exhibit 25: Market share by geography 2021-2026 (%)
7.2 Geographic comparison
Exhibit 26: Geographic comparison
7.3 US - Market size and forecast 2021-2026
Exhibit 27: US - Market size and forecast 2021-2026 (thousand units)
Exhibit 28: US - Year-over-year growth 2021-2026 (%)
7.4 Canada - Market size and forecast 2021-2026
Exhibit 29: Canada - Market size and forecast 2021-2026 (thousand units)
Exhibit 30: Canada - Year-over-year growth 2021-2026 (%)
7.5 Mexico - Market size and forecast 2021-2026
Exhibit 31: Mexico - Market size and forecast 2021-2026 (thousand units)
Exhibit 32: Mexico - Year-over-year growth 2021-2026 (%)
7.6 Market opportunity by geography
Exhibit 33: Market opportunity by geography (thousand units)
8 Drivers, Challenges, and Trends
8.1 Market drivers
8.1.1 Introduction of driverless agricultural tractors
8.1.2 Government initiatives to support sustainable agriculture practices
8.1.3 Growing use of compact tractors by small-scale farmers
8.2 Market challenges
8.2.1 Availability of agricultural tractors on a rental basis
8.2.2 Product recalls
8.2.3 Small size farmlands encourage the use of manual workers
Exhibit 34: Impact of drivers and challenges
8.3 Market trends
8.3.1 Use of telematics in tractors
8.3.2 Increased popularity of small tractors
8.3.3 Investments in the development of the agriculture sector
9. Vendor Landscape
10.1 Competitive scenario
10.2 Vendor landscape
Exhibit 35: Vendor Landscape
10.3 Landscape disruption
Exhibit 36: Landscape disruption
10.4 Industry risks
Exhibit 37: Industry risks
11. Vendor Analysis
11.1 Vendors covered
Exhibit 38: Vendors covered
10.2 Market positioning of vendors
Exhibit 39: Market positioning of vendors
10.3 AGCO Corp.
Exhibit 40: AGCO Corp. - Overview
Exhibit 41: AGCO Corp. - Business segments
Exhibit 42: AGCO Corp. - Key offerings
Exhibit 43: AGCO Corp. - Segment focus
10.4 CLAAS KGaA mbH
Exhibit 44: CLAAS KGaA mbH - Overview
Exhibit 45: CLAAS KGaA mbH - Product and service
Exhibit 46: CLAAS KGaA mbH - Key offerings
Exhibit 47: CLAAS KGaA mbH - Segment focus
10.5 CNH Industrial NV
Exhibit 48: CNH Industrial NV - Overview
Exhibit 49: CNH Industrial NV - Business segments
Exhibit 50: CNH Industrial NV - Key offerings
Exhibit 51: CNH Industrial NV - Segment focus
10.6 Deere and Co.
Exhibit 52: Deere and Co. - Business segments
Exhibit 53: Deere and Co. - Key offerings
Exhibit 54: Deere and Co. - Segment focus
10.7 Escorts Ltd.
Exhibit 55: Escorts Ltd. - Overview
Exhibit 56: Escorts Ltd. - Business segments
Exhibit 57: Escorts Ltd. - Key offerings
Exhibit 58: Escorts Ltd. - Segment focus
10.8 Kubota Corp.
Exhibit 59: Kubota Corp. - Overview
Exhibit 60: Kubota Corp. - Business segments
Exhibit 61: Kubota Corp. - Key offerings
Exhibit 62: Kubota Corp. - Segment focus
10.9 Kverneland AS
Exhibit 63: Kverneland AS - Overview
Exhibit 64: Kverneland AS - Product and service
Exhibit 65: Kverneland AS - Key offerings
10.10 Mahindra & Mahindra Ltd.
Exhibit 66: Mahindra & Mahindra Ltd. - Overview
Exhibit 67: Mahindra & Mahindra Ltd. - Product and service
Exhibit 68: Mahindra & Mahindra Ltd. - Key offerings
10.11 SDF SpA
Exhibit 69: SDF SpA - Overview
Exhibit 70: SDF SpA - Business segments
Exhibit 71: SDF SpA - Key offerings
Exhibit 72: SDF SpA - Segment focus
10.12 Tractors and Farm Equipment Ltd.
Exhibit 73: Tractors and Farm Equipment Ltd. - Overview
Exhibit 74: Tractors and Farm Equipment Ltd. - Product and service
Exhibit 75: Tractors and Farm Equipment Ltd. - Key offerings
12. Appendix
12.1 Scope of the report
12.1.1 Market definition
12.1.2 Objectives
12.1.3 Notes and caveats
12.2 Currency conversion rates for US$
Exhibit 76: Currency conversion rates for US$
12.3 Research Methodology
Exhibit 77: Research Methodology
Exhibit 78: Validation techniques employed for market sizing
Exhibit 79: Information sources
12.4 List of abbreviations
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