THE SALE OF THE NORTH AMERICA TRACTOR MARKET IS TO REACH 391,799 UNITS BY 2028, LESS THAN 50 HP TRACTORS LIKELY TO BE SOLD MORE IN THE UPCOMING YEARS - ARIZTON

CHICAGO, March 23, 2023 /PRNewswire/ -- According to Arizton's latest research report, the North America tractor market will grow at a CAGR of 4.4% from 2022 to 2028.

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BROWSE IN-DEPTH TOC ON THE "NORTH AMERICA TRACTOR MARKET"  

43 - Tables  
43 - Figures  
152 – Pages  

The US and Canadian governments have launched several initiatives and policies to assist farmers by offering them financial support, improved infrastructure, competitive crop prices, loan waivers, subsidies, and agricultural loans. The government is also committed to enhancing the situation and implementing farm mechanization. North America is one of the world's top crop-producing regions due to its high agricultural productivity. Nations in North America are the leading producers of barley, wheat, potatoes, fruits, and vegetables.

NORTH AMERICA TRACTOR MARKET REPORT SCOPE

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The North American agricultural tractor market, by less than 50HP, witnessed shipments of 195,804 units in 2022.

Farmers and public and private organizations are also stakeholders in food production because there is a global food crop shortage that is like North America's. They have shifted their attention to increasing food production significantly and closing the yield gap. To operate all the modern, technologically advanced equipment and meet the demand for higher farm output, tractors will once again play a crucial role.

The less than 50 HP segment generated the highest sales in almost all the countries of North America. This segment mainly includes semi-professional tractors with a customer base in small-scale agriculture farms and hobby farmers.

RECENT DEVELOPMENTS FROM VENDORS:

• John Deere launched the new electric variable transmission (EVT) for select 8 Series Tractors and a new JD14X engine for 9 Series. In 2022, John Deere started selling self-driving or autonomous tractors. The farmer can operate the company's R8 tractor using mobile phones. Farmers can use program routes to help them navigate the field with self-driving and GPS-enabled tractors.
• Massey Ferguson launched the MF 6S series tractors. This machine provides up to 180 HP with advanced technology.
• In February 2022, New Holland North America, CNH industrial brand, announced the launch of the world's first production T6 Methane Power tractor in the US.
• CNH Industrial partnered with Monarch Tractors, a US-based agri-technology company, to improve long-term sustainability and raise awareness of the importance of zero-emission agriculture among farmers.
• Massey Ferguson launched the MF 8S series tractors. A guard-u install engine and a neo-retro design distinguish this series of tractors. These tractors are designed to advance smart farming technologies.

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MARKET OPPORTUNITIES

Increasing Use of Bioenergy in Tractors

Conventionally, farmers used diesel engine tractors known for their high power. Tractors are now more efficient and can complete tasks with less power because of advances in machine technology, fuel, and engine technology. Farmers' budget management is hampered by the volatility of diesel prices.

Technological Advance in Tractor Technology

As agriculture met digital technology, a new frontier of innovation emerged, opening various paths to a smart agricultural future. Tractor manufacturers compete fiercely, and firms are constantly striving to innovate and ensure product differentiation at reasonable prices. Tractors with cutting-edge technology are now available on the market. GPS and remote sensing improve farming accuracy and productivity.

WHY SHOULD YOU BUY THIS REPORT?

This North American tractor market report is among the few in the market that offer outlook and opportunity analyses forecast in terms of:

• Market Size & Forecast Volume (Units) 2020–2028
• Segmentation by Horsepower
• Segmentation by Wheel Drive
• Segmentation by Geography
• Production and trade values
• Major current and upcoming projects and investments
• Competitive intelligence about the economic scenario, advantages in Europe, industry dynamics, and market shares
• Latest and innovative technologies
• COVID-19 impact analysis of the industry.
• Company profiles of major and other prominent vendors
• Industry shares of major vendors

KEY VENDORS

• John Deere
• CNH Industrial
• AGCO
• Kubota

• SDF
• Mahindra & Mahindra
• JCB
• CLAAS
• KIOTI
• Foton Motor
• Yanmar

MARKET SEGMENTATION

Horsepower

• Less than 50 HP
• 50–100 HP
• Above 100 HP

Drive Type

• 2-Wheel-Drive
• 4-Wheel-Drive

Geography

• The US
• Canada

CHECK OUT SOME OF THE TOP-SELLING RESEARCH REPORTS:

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Brazil Tractors Market - Industry Analysis & Forecast 2022-2028: Brazil tractors market is expected to reach 62,033 units by 2028 growing at a CAGR of 4.75% during the forecast period (2021-2028).

Canada Tractors Market – Industry Analysis & Forecast 2022-2028: Canada tractor market is expected to reach 43,766 units by 2028 growing at a CAGR of 3.91%.

U.S. Tractors Market – Industry Analysis & Forecast 2022-2028: U.S. tractors market is expected to grow at a CAGR of over 3% from 2022 to 2028 and is expected to reach 4,13,243 units by 2028.

TABLE OF CONTENT

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 PREMIUM INSIGHTS

7 MARKET AT A GLANCE

8 INTRODUCTION

8.1 OVERVIEW

8.1 VALUE CHAIN ANALYSIS

8.1.1 OVERVIEW

8.1.2 RAW MATERIAL & COMPONENT SUPPLIERS

8.1.3 MANUFACTURERS

8.1.4 DEALERS/DISTRIBUTORS

8.1.5 RETAILERS

8.1.6 END-USERS

8.2 DISTRIBUTION CHANNELS FOR FARM EQUIPMENT

8.2.1 FINANCING OPTIONS FOR ACQUIRING FARM MACHINERY

8.3 SWOT ANALYSIS OF AGRICULTURAL TRACTOR INDUSTRY

8.4 GOVERNMENT SUPPORT TO FARMERS

8.5 TECHNOLOGICAL ADVANCES

9 MARKET OPPORTUNITIES & TRENDS

9.1 TECHNOLOGICAL ADVANCES IN TRACTOR TECHNOLOGY

9.1.1 SWATH CONTROL AND VARIABLE RATE TECHNOLOGY

9.1.2 HIGH DEMAND FOR AUTONOMOUS EQUIPMENT

9.2 SHORTAGE OF AGRICULTURAL LABORERS

9.3 USE OF ENERGY-EFFICIENT AGRI TRACTORS

10 MARKET GROWTH ENABLERS

10.1 ASSISTANCE TO FARMERS THROUGH LOANS & SUBSIDIES

10.2 INCREASED AGRICULTURAL PRODUCTIVITY & EXPORTS

10.3 INCREASED FARM MECHANIZATION

10.4 HIGH LOCAL PRODUCTION CAPACITIES IN US

11 MARKET RESTRAINTS

11.1 LACK OF AWARENESS OF LATEST INNOVATIONS IN AGRICULTURAL TRACTOR

11.2 HIGH DEMAND FOR USED & RENTAL TRACTORS

11.3 CLIMATE CHANGE ADVERSELY IMPACTS AGRICULTURAL ACTIVITIES

12 MARKET LANDSCAPE

12.1 MARKET OVERVIEW

12.2 MARKET SIZE & FORECAST

12.3 FIVE FORCES ANALYSIS

12.3.1 THREAT OF NEW ENTRANTS

12.3.2 BARGAINING POWER OF SUPPLIERS

12.3.3 BARGAINING POWER OF BUYERS

12.3.4 THREAT OF SUBSTITUTES

12.3.5 COMPETITIVE RIVALRY

13 HORSEPOWER

13.1 MARKET SNAPSHOT & GROWTH ENGINE

13.2 MARKET OVERVIEW

13.3 LESS THAN 50 HP

13.3.1 MARKET OVERVIEW

13.3.2 MARKET SIZE & FORECAST

13.3.3 MARKET BY GEOGRAPHY

13.4 50 HP-100 HP

13.4.1 MARKET OVERVIEW

13.4.2 MARKET SIZE & FORECAST

13.4.3 MARKET BY GEOGRAPHY

13.5 ABOVE 100 HP

13.5.1 MARKET OVERVIEW

13.5.2 MARKET SIZE & FORECAST

13.5.3 MARKET BY GEOGRAPHY

14 WHEEL-DRIVE

14.1 MARKET SNAPSHOT & GROWTH ENGINE

14.2 MARKET OVERVIEW

14.3 2-WHEEL-DRIVE

14.3.1 MARKET OVERVIEW

14.3.2 MARKET SIZE & FORECAST

14.3.3 MARKET BY GEOGRAPHY

14.4 4-WHEEL-DRIVE

14.4.1 MARKET OVERVIEW

14.4.2 MARKET SIZE & FORECAST

14.4.3 MARKET BY GEOGRAPHY

15 GEOGRAPHY

15.1 MARKET SNAPSHOT & GROWTH ENGINE

15.2 GEOGRAPHIC OVERVIEW

15.3 US

15.3.1 MARKET OVERVIEW

15.3.2 US LAND HOLDING STRUCTURES

15.3.3 FARM PRODUCTION EXPENDITURE BY CATEGORY

15.3.4 MARKET SIZE & FORECAST

15.3.5 HORSEPOWER

15.3.6 WHEEL-DRIVE

15.3.7 MARKET SHARE ANALYSIS

15.4 CANADA

15.4.1 MARKET OVERVIEW

15.4.2 LAND HOLDING STRUCTURES IN CANADA

15.4.3 MARKET SIZE & FORECAST

15.4.4 HORSEPOWER

15.4.5 WHEEL-DRIVE

15.4.6 MARKET SHARE ANALYSIS

16 COMPETITIVE LANDSCAPE

16.1 COMPETITION OVERVIEW

16.1.1 RECENT DEVELOPMENTS BY TOP BRANDS

16.1.2 BRAND LOYALTY

16.1.3 SALES & EXPORTS

17 KEY COMPANY PROFILES

17.1 JOHN DEERE

17.1.1 BUSINESS OVERVIEW

17.1.2 PRODUCT OFFERINGS

17.1.3 KEY STRATEGIES

17.1.4 KEY STRENGTHS

17.1.5 KEY OPPORTUNITIES

17.2 CNH INDUSTRIAL

17.3 AGCO

17.4 KUBOTA

18 OTHER PROMINENT VENDORS

18.1 SDF

18.1.1 BUSINESS OVERVIEW

18.1.2 PRODUCT OFFERINGS

18.2 MAHINDRA

18.3 JCB

18.4 CLAAS

18.5 KIOTI

18.6 FOTON

18.7 YANMAR

19 REPORT SUMMARY

19.1 KEY TAKEAWAYS

19.2 STRATEGIC RECOMMENDATIONS

20 QUANTITATIVE SUMMARY

20.1 MARKET BY GEOGRAPHY

20.2 MARKET BY HORSEPOWER

20.3 MARKET BY WHEEL-DRIVE TYPE

21 APPENDIX

21.1 ABBREVIATIONS

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SOURCE Arizton Advisory & Intelligence

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