United Kingdom Tractors Industry Report to 2028 - Increased Agricultural Productivity & Exports is Driving Growth

DUBLIN, Nov. 15, 2022 /PRNewswire/ -- The "UK Tractors Market - Industry Analysis and Forecast 2022-2028" report has been added to ResearchAndMarkets.com's offering.

The 141-200 HP segment accounted for the largest share in 2021. The country needs to boost its production capacity to feed its ever-growing population, which stood at 68.2 million in 2021. The production of major crops in the country increased in 2018 and is expected to grow during the forecast period continuously. This increase can be attributed to farmers relying on farm mechanization and improving their crop production by reducing the yield gap.

Key Highlights

• The UK was the fourth-largest tractor market in Europe in 2021, with an overall sale of 13,572 units. There was an increase in crop production and tractor sales in 2021 due to incentives and loans offered to farmers by the UK government, which helped the country to recover from the COVID-19 pandemic.
• England and Scotland region of the country reportedly showed a higher market share for agriculture machinery than other regions in 2021. England region is expected to witness the highest growth during the forecast period.
• UK tractor registrations are a broad indicator of the strength of the domestic market for agricultural equipment. In value terms, the cost of tractors, plus parts and accessories, accounts for almost 50% of farmers' spending on equipment, making this a prime indicator for industry growth.

Market Trends & Opportunities

• There is a trend of feminization of agriculture due to the migration of men to urban cities in the UK agriculture sector, which drives the demand for tractors and other agricultural machinery to perform farming activities.
• The trend of alternative fuel-based tractors is growing in the country. Farmers are more fuel-conscious and moving toward green farming. Also, agriculture is expected to flourish with the help of precision farming and telematics in tractors, which bodes well for the country's agriculture tractor market.
• The Positive Agriculture project aims to improve the living conditions of those who are part of the agricultural supply chain and to provide 100% of the essential raw materials sustainably.
• There is a rapid increase in innovation and extensive use of robotics and AI worldwide. The current way of farming will likely be revolutionized using autonomous machinery and agricultural robots, which will perform time-consuming tasks much more efficiently and effectively.
• Several original equipment manufacturers (OEMs) shifted their focus from matured markets in England to the underpenetrated states of Scotland. The agriculture farm machine market is currently in the growth stage, and manufacturers are looking for capacity augmentation in the country. The Wales region still has negligible farm mechanization, and vendors can explore these regions with a portfolio of small tractors suitable for hilly terrains.

Government's Agriculture Incentives

• The government needs to ensure self-sufficiency in food grain production to fulfill the needs of the large population. To support that, the government is consistently increasing its budget allocation to agriculture and allied activities. The government also implements schemes, such as CAP, with fertilizers, electricity, and fuel subsidies.
• There is an increase in the presence of agriculture-focused Non-Banking Financial Companies in the country. These corporations enable small and medium-scale farmers to buy agricultural machinery for their farms on credit, which helps boost agricultural machinery sales. Tractors represent more than 50% of the total agricultural equipment sold in the country.

The Labor Shortage in the UK Leading to the Mechanization of Farms

• Money and time can be saved, and farm yields can be increased by adopting technologically advanced tractors and implements. The UK government plans to increase the rate of farm mechanization among farmers, which will boost the demand and sales of new tractors. The mechanization of farms is deemed necessary in the UK to increase crop production.
• Small farmers frequently encounter labor shortages for field preparation, sowing, and inter-culture operations during peak seasons. Farm machinery can efficiently accomplish specific agricultural duties. These factors can help the industry to grow in the forecast period.

Key Questions Answered:
1. What is the growth rate of the UK Tractor Market?
2. What are the expected units to be sold in the UK tractors market by 2028?
3. Who are the Key Players in the UK Tractor Market?
4. Which wheel drive tractors hold the largest market shares in the UK region?
5. Which companies will dominate the UK 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

8 Introduction
8.1 Overview
8.2 Value Chain Analysis
8.2.1 Overview
8.2.2 Raw Material & Component Suppliers
8.2.3 Manufacturers
8.2.4 Dealers/Distributors
8.2.5 Retailers
8.2.6 End-Users
8.3 Brexit Impact on UK Agricultural Industry
8.4 Tractor Regulations & Requirements
8.4.1 Speed Limits
8.4.2 Driver Licensing
8.4.3 Vehicle Excise Duty (Ved)/Vehicle Registration
8.4.4 Roadworthiness Testing
8.4.5 Drivers Hours & Tachographs
8.4.6 Operator Licensing
8.5 Agricultural Land Holding Structures
8.6 Common Agricultural Policy & the European Union Agricultural Expenditure
8.7 Import & Export Analysis
8.8 Technological Advances

9 Market Landscape
9.1 Market Overview
9.1.1 Labor Shortages in the Agriculture Sector
9.2 Market Size & Forecast

10 Horsepower
10.1 Market Snapshot & Growth Engine
10.2 Market Overview
10.3 Less Than 50 Hp
10.3.1 Market Overview
10.3.2 Market Size & Forecast
10.3.3 UK Less Than 50 Hp Agriculture Tractor Market by Region
10.4 50-100 Hp
10.4.1 Market Overview
10.4.2 Market Size & Forecast
10.4.3 UK 50-100 Hp Tractor Market by Region
10.5 101-140 Hp
10.5.1 Market Overview
10.5.2 Market Size & Forecast
10.5.3 UK 101-140 Hp Agriculture Tractor Market by Region
10.6 141-200 Hp
10.6.1 Market Overview
10.6.2 Market Size & Forecast
10.6.3 UK 141-200 Hp Agriculture Tractor Market by Region
10.7 201-240 Hp
10.7.1 Market Overview
10.7.2 Market Size & Forecast
10.7.3 UK 201-240 Hp Agriculture Tractor Market by Region
10.8 Above 240 Hp
10.8.1 Market Overview
10.8.2 Market Size & Forecast
10.8.3 UK Above 240 Hp Agriculture Tractor Market by Region

11 Drive Type
11.1 Market Snapshot & Growth Engine
11.2 Market Overview
11.2.1 Market Size & Forecast
11.3 2-Wheel Drive
11.3.1 Market Overview
11.3.2 Market Size & Forecast
11.3.3 UK 2-Wheel Drive Agriculture Tractor Market by Region
11.4 4-Wheel Drive
11.4.1 Market Overview
11.4.2 Market Size & Forecast
11.4.3 UK 4-Wheel Drive Agriculture Tractor Market by Region

12 Region
12.1 Market Snapshot & Growth Engine
12.2 Market Overview
12.3 England
12.3.1 Market Overview
12.3.2 Market Size & Forecast
12.3.3 UK England Agriculture Tractor Market by Horsepower
12.3.4 UK England Agriculture Tractor Market by Drive Type
12.4 Wales
12.4.1 Market Overview
12.4.2 Market Size & Forecast
12.4.3 UK Wales Agriculture Tractor Market by Horsepower
12.4.4 UK Wales Agriculture Tractor Market by Drive Type
12.5 Scotland
12.5.1 Market Overview
12.5.2 Market Size & Forecast
12.5.3 UK Scotland Agriculture Tractor Market by Horsepower
12.5.4 UK Scotland Agriculture Tractor Market by Drive Type
12.6 Northern Ireland
12.6.1 Market Overview
12.6.2 Market Size & Forecast
12.6.3 UK Northern Ireland Agriculture Tractor Market by Horsepower
12.6.4 UK Northern Ireland Agriculture Tractor Market by Drive Type

13 Market Opportunities & Trends
13.1 Technological Advances in Tractor Technology
13.1.1 Self-Driving Tractors
13.1.2 Gps Technology
13.1.3 High Demand for Autonomous Tractors
13.2 Shortage of Agricultural Laborers
13.3 Use of Energy-Efficient Tractors
13.4 Use of Non-Conventional Fuels in Tractors

14 Market Growth Enablers
14.1 Assistance to Farmers Through Loans & Subsidies
14.2 Increased Agricultural Productivity & Exports
14.2.1 Agricultural Exports
14.3 Increased Farm Mechanization

15 Market Restraints
15.1 Lack of Awareness of Latest Innovations in Agricultural Equipment
15.1.1 Lack of Education Among Farmers in the UK
15.2 High Demand for Used & Rental Tractors
15.3 Fluctuations in Commodity Prices
15.4 Five Forces Analysis
15.4.1 Threat of New Entrants
15.4.2 Bargaining Power of Suppliers
15.4.3 Bargaining Power of Buyers
15.4.4 Threat of Substitutes
15.4.5 Competitive Rivalry

16 Competitive Landscape
16.1 Competition Overview
16.1.1 Brand Loyalty
16.1.2 Sales & Exports

17 Key Company Profiles
17.1 John Deere
17.1.1 Business Overview
17.1.2 John Deere in the Agriculture Tractor Market
17.1.3 Product Offerings
17.1.4 Key Strategies
17.1.5 Key Strengths
17.1.6 Key Opportunities
17.2 Cnh Industrial
17.2.1 Business Overview
17.2.2 Cnh Industrial in the Agriculture Tractor Market
17.2.3 Product Offerings
17.2.4 Key Strategies
17.2.5 Key Strengths
17.2.6 Key Opportunities
17.3 Agco
17.3.1 Business Overview
17.3.2 Agco in the Agriculture Tractor Market
17.3.3 Product Offerings
17.3.4 Key Strategies
17.3.5 Key Strengths
17.3.6 Key Opportunities
17.4 Kubota
17.4.1 Business Overview
17.4.2 Kubota in the Agriculture Tractor Market
17.4.3 Product Offerings
17.4.4 Key Strategies
17.4.5 Key Strengths
17.4.6 Key Opportunities

18 Other Prominent Vendors
18.1 Sdf
18.1.1 Business Overview
18.1.2 Product Offerings
18.2 Jcb
18.2.1 Business Overview
18.2.2 Product Offerings
18.3 Tafe
18.3.1 Business Overview
18.3.2 Product Offerings
18.4 Foton
18.4.1 Business Overview
18.4.2 Product Offerings
18.5 Iseki & Co. Ltd.
18.5.1 Business Overview
18.5.2 Product Offerings
18.6 Yanmar
18.6.1 Business Overview
18.6.2 Product Offerings
18.7 Arbos Group
18.7.1 Business Overview
18.7.2 Product Offerings

19 Report Summary

20 Quantitative Summary

21 Appendix

For more information about this report visit https://www.researchandmarkets.com/r/i81gki

Media Contact:

Research and Markets
Laura Wood, Senior Manager
[email protected]
 
For E.S.T Office Hours Call +1-917-300-0470
For U.S./CAN Toll Free Call +1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
 
U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716

Logo: https://mma.prnewswire.com/media/539438/Research_and_Markets_Logo.jpg

SOURCE Research and Markets