New Zealand Tractors Market Report 2022 to 2028: Increasing Usage of Energy Efficient Tractors Presents Opportunities

DUBLIN, Dec. 7, 2022 /PRNewswire/ -- The "New Zealand Tractors Market - Industry Analysis & Forecast 2022-2028" report has been added to  ResearchAndMarkets.com's offering.

The New Zealand tractors market is expected to grow at a CAGR of 3.14% during 2022-2028.

New Zealand has over 5.1 million food consumers and is one of Oceania's second largest food markets. The country is implementing the concept of precision agriculture to increase productivity. The focus on agricultural mechanization in developing countries will increase the demand for tractors and the growing sense of accuracy in farming for technologically advanced tractors in the New Zealand tractors market.

As the global challenge regarding the shortage of food crops mirrors that of New Zealand, stakeholders in food production, including public and private bodies and farmers, are shifting focus toward closing the yield gap and substantial increments in the amount of food produced.

The New Zealand tractor market will again play a pivotal role in operating all the new-age, technologically advanced equipment to fulfill the need for increased farm output. Governments must adopt effective and sustainable farming practices to ensure food security and safety. The country has witnessed a massive increase in farm mechanization, both in terms of agricultural and industrial productivity, over the past four decades, driven by the technological renaissance.

Key Highlights

1. Regarding agricultural acreage, New Zealand is one of the second largest countries in Oceania. Arable land covers 491 thousand hectares of the total land of New Zealand.
2. The New Zealand tractor market increased by 22% in 2021 compared to 2020. The increase in crop production and tractor sales was due to favorable monsoon rains in 2020 and 2021, which helped to recover post-COVID-19 pandemic.
3. New Zealand's farmers are wealthy and have sufficient money to invest in agriculture machinery such as tractors. In addition, the country's farmers also benefit from easy credit loans for purchasing agricultural machinery.
4. In 2020, New Zealand imported USD 187 million worth of tractors, of which Germany accounted for a 28.1% share of the imports, followed by Australia (14.8%) and France (11.6%).
5. The New Zealand agricultural industry exports about one-third of its products. Cereals are grown on about one-third of New Zealand's agricultural land. Barley is the leading crop grown on around 55,500 hectares of land, followed by wheat and maize; such factors promote the New Zealand tractor market.
6. In 2020, New Zealand exported USD 10 million worth of tractors, of which Australia accounted for an 82.5% share of the overall exports of tractors from New Zealand, followed by Germany (4.1%) and the Cook Islands (2.8%).

Market Trends & Opportunities

Increasing Usage of Energy Efficient Tractors

The AgriStarters project aims to improve the living conditions of those who are a part of the agricultural supply chain and to provide essential equipment sustainably. This aim joins an already announced objective to reduce total greenhouse gas (GHC) emissions by 40% by 2030 and zero emissions by 2040. Adopting energy-efficient tractors in the New Zealand tractor market will fulfill these objectives.

Use of Non-conventional Fuels in Tractors

The New Zealand tractor market is witnessing a massive demand for tractors running on different fuels. The sale of tractors is affected due to fluctuating prices of conventional fuels such as diesel. Thus, manufacturers are focusing on developing alternative fuel-based tractors; nowadays, tractors running on liquefied natural gas (LNG), compressed natural gas (CNG), propane, diesel, and kerosene are also available. To support net zero emissions use of diesel in a tractor in the Auckland region are in a high position.

Competitive Landscape

• John Deere and New Holland dominate the New Zealand tractor market with a collective market share of over 40%. The threat of rivalry is high in the New Zealand agriculture tractor market since more than 50% of the share belongs to the top three key players
• John Deere offers new Electric Variable Transmission for select 8 Series Tractors new JD14X engine for 9 Series; EVT enables electric power generation, a way the industry will leverage power produced by the tractor for its implements in the future
• In February 2022, Massey Ferguson launched the MF 6S series tractors. This machine provides up to 180 HP with advanced technology
• In March 2021, CNH Industrial partnered with Monarch Tractors, a US-based Agri-technology company, to improve long-term sustainability and raise awareness among farmers of the importance of zero-emission agriculture
• Massey Ferguson launched the MF 8S series tractors. This series of tractors is distinguished by a guard-u install engine and a neo-retro design. These tractors are designed to advance smart farming technologies

Key Questions Answered:

1. How many tractors are sold in New Zealand each year?

2. What are the expected units to be sold in the New Zealand tractor market by 2028?

3. What is the growth rate of the New Zealand tractor market?

4. Tractors with which horsepower type will constitute the largest share by 2028 in New Zealand?

5. Which wheel drive holds the highest market shares in the New Zealand tractor market?

6. Which companies dominate the New Zealand tractor market share?

Key Topics Covered:

1 Research Methodology

2 Research Objectives

3 Research Process

4 Scope & Coverage

4.1 Market Definition

4.1.1 Inclusions

4.1.2 Exclusions

4.1.3 Market Estimation Caveats

4.2 Base Year

4.3 Scope of the Study

5 Report Assumptions & Caveats

5.1 Key Caveats

5.2 Currency Conversion

5.3 Market Derivation

6 Market at a Glance

7 Premium Insights

7.1 Report Coverage in Terms of Data

8 Introduction

8.1 Overview

8.2 New Zealand Agricultural Innovation Policy

8.2.1 Recent Changes to Agricultural Policies

8.3 Value Chain Analysis

8.3.1 Overview

8.3.2 Raw Material & Component Suppliers

8.3.3 Manufacturers

8.3.4 Dealers/Distributors

8.3.5 Retailers

8.3.6 End-Users

8.4 New Zealand Agricultural Evolution

8.5 Land Holding Structures by Regions

8.6 Import & Export Analysis

8.7 Technological Advances

9 Market Landscape

9.1 Market Overview

9.1.1 Major Labor Shortage in Agriculture Sector

9.2 Market Size & Forecast

10 Horsepower

10.1 Market Snapshot & Growth Engine

10.2 Market Overview

10.3 Less Than 80 Hp

10.3.1 Market Overview

10.3.2 Market Size & Forecast

10.3.3 Less Than 80 Hp Agriculture Tractor Market in New Zealand by Regions

10.4 80-160 Hp

10.4.1 Market Overview

10.4.2 Market Size & Forecast

10.4.3 80-160 Hp Tractor Market in New Zealand by Regions

10.5 161-260 Hp

10.5.1 Market Overview

10.5.2 Market Size & Forecast

10.5.3 161-260 Hp Tractor Market in New Zealand by Regions

10.6 Above 260 Hp

10.6.1 Market Overview

10.6.2 Market Size & Forecast

10.6.3 Above 260 Hp Agriculture Tractor Market in New Zealand by Regions

11 Wheel Drive

11.1 Market Snapshot & Growth Engine

11.2 Market Overview

11.2.1 Market Size & Forecast

11.3 2Wd Tractors

11.3.1 Market Overview

11.3.2 Market Size & Forecast

11.3.3 2Wd Agriculture Tractor Market in New Zealand by Regions

11.4 4Wd Tractors

11.4.1 Market Overview

11.4.2 Market Size & Forecast

11.4.3 4Wd Agriculture Tractor Market in New Zealand by Regions

12 Regions

12.1 Market Snapshot & Growth Engine

12.2 Market Overview

12.3 Auckland

12.3.1 Market Overview

12.3.2 Market Size & Forecast

12.3.3 Auckland Agriculture Tractor Market by Hp

12.3.4 Auckland Agriculture Tractor Market by Wheel Drive

12.4 Nelson

12.4.1 Market Overview

12.4.2 Market Size & Forecast

12.4.3 Nelson Agriculture Tractor Market by Hp

12.4.4 Nelson Agriculture Tractor Market by Wheel Drive

12.5 Taranaki

12.5.1 Market Overview

12.5.2 Market Size & Forecast

12.5.3 Taranaki Agriculture Tractor Market by Hp

12.5.4 Taranaki Agriculture Tractor Market by Wheel Drive

12.6 Wellington

12.6.1 Market Overview

12.6.2 Market Size & Forecast

12.6.3 Wellington Agriculture Tractor Market by Hp

12.6.4 Wellington Agriculture Tractor Market by Wheel Drive

12.7 Otago

12.7.1 Market Overview

12.7.2 Market Size & Forecast

12.7.3 Otago Agriculture Tractor Market by Hp

12.7.4 Otago Region Agriculture Tractor Market by Wheel Drive

12.8 Canterbury

12.8.1 Market Overview

12.8.2 Market Size & Forecast

12.8.3 Canterbury Agriculture Tractor Market by Hp

12.8.4 Canterbury Agriculture Tractor Market by Wheel Drive

12.9 Hawke'S Bay

12.9.1 Market Overview

12.9.2 Market Size & Forecast

12.9.3 Hawke'S Bay Agriculture Tractor Market by Hp

12.9.4 Hawke'S Bay Agriculture Tractor Market by Wheel Drive

13 Market Opportunities & Trends

13.1 Technological Advances in Tractors

13.1.1 Gps Technology

13.1.2 Growing Demand for Autonomous Tractors

13.2 Increasing Potential for Low-Emission and Electric Tractors

13.3 Increasing Use of Non-Conventional Fuel in Tractors

14 Market Growth Enablers

14.1 Financial Support to Farmers Through Loans & Subsidies

14.2 Increased Food Consumption & Population Growth

14.3 Reducing Workforce to Boost Farm Mechanization

14.4 Growth in Agricultural Productivity & Exports

14.4.1 Agricultural Exports

15 Market Restraints

15.1 Farmers Unaware of Latest Innovations in Agricultural Equipment

15.1.1 Low Levels of Education Among Farmers in Emerging Countries

15.1.2 Resource Scarcity of Small and Medium Farmers

15.2 Rising Demand for Used & Rental Tractors

15.3 Climate Change Adversely Impacting Agricultural Activities

16 Five Forces Analysis

16.1.1 Threat of New Entrants

16.1.2 Bargaining Power of Suppliers

16.1.3 Bargaining Power of Buyers

16.1.4 Threat of Substitutes

16.1.5 Competitive Rivalry

17 Competitive Landscape

17.1 Competition Overview

17.1.1 Brand Loyalty Among Farmers

17.1.2 Recent Developments by Top Players

17.1.3 Sales & Exports

18 Key Company Profiles

18.1 John Deere

18.1.1 Business Overview

18.1.2 John Deere in Agriculture Tractor Market

18.1.3 Product Offerings

18.1.4 Key Strategies

18.1.5 Key Strengths

18.1.6 Key Opportunities

18.2 Agco

18.2.1 Business Overview

18.2.2 Agco in Agriculture Tractor Market

18.2.3 Product Offerings

18.2.4 Key Strategies

18.2.5 Key Strengths

18.2.6 Key Opportunities

18.3 Cnh Industrial

18.3.1 Business Overview

18.3.2 Cnh in Agriculture Tractor Market

18.3.3 Product Offerings

18.3.4 Key Strategies

18.3.5 Key Strengths

18.3.6 Key Opportunities

18.4 Kubota

18.4.1 Business Overview

18.4.2 Kubota in Agriculture Tractor Market

18.4.3 Product Offerings

18.4.4 Key Strategies

18.4.5 Key Strengths

18.4.6 Key Opportunities

19 Other Prominent Vendors

19.1 Deutz-Fahr

19.1.1 Business Overview

19.1.2 Product Offerings

19.2 Yanmar

19.2.1 Business Overview

19.2.2 Product Offerings

19.3 Claas Group

19.3.1 Business Overview

19.3.2 Product Offerings

19.4 Jcb

19.4.1 Business Overview

19.4.2 Product Offerings

19.5 Iseki

19.5.1 Business Overview

19.5.2 Product Offerings

19.6 Kioti

19.6.1 Business Overview

19.6.2 Product Offerings

20 Report Summary

21 Quantitative Summary

22 Appendix

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