Study #: 3908 | Published: 10/2020 | Pages: 147 | Individual User License: US$ 3,900

Global demand for farm tractors is projected to grow 4.0% per year through 2024 to $56.1 billion. Despite the severe disruptions in agricultural commodity supply chains and a drop in crop prices in 2020 caused by the COVID-19 pandemic, the global farm tractor market is expected to reverse the losses of the 2014-2019 period as:

  • global agricultural activity expands and agricultural sector mechanization rates rise in developing countries, supported by the growing use of more sophisticated farming techniques and the expansion of the food and beverage processing industries
  • national governments continue to support farmers through a variety of mechanisms, ranging from subsidies to trade policies to regulatory changes
  • conditions improve in China, the world’s second largest market, after a period of significant losses (caused partly by government agricultural reforms)
  • the introduction of new tractors that feature a variety of advanced technologies – due in part to the adoption of new emissions, technical, and safety regulations for tractors – adding to gains in value terms

However, further global gains will be restrained by several factors, including:

  • high levels of demand for used tractors in many markets
  • very low farm income levels and limited equipment financing options in many Asian, Central and South American, and Africa/Mideast nations
  • the large existing stocks of farm machinery in many North American, European, and developed Asian nations

The Asia/Pacific Region to Post the Largest Gains

Led by China and India, the Asia/Pacific region is expected to account for 37% of all new global agricultural tractor demand between 2019 and 2024. Sales of farm tractors will rebound in China, while farmers in India, Thailand, Indonesia, and other developing Asia/Pacific nations will increase their use of more sophisticated crop management techniques, driving up demand for tractors and other agricultural machinery. In mature markets – such as Australia, Japan, and Taiwan – demand will be driven by both a rebound in replacement sales and the growing use of state-of-the-art, newly developed tractors.


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Table of Contents

1. Executive Summary

2. About This Report

Report Details

Study Scope & Product Description

Impact of COVID-19 Pandemic

3. Overview

Historical Market Trends

Demand by Region

Demand by Type

Wheeled Tractors

Crawler Tractors

Pedestrian-Controlled Tractors

Pricing Trends

International Trade

Leading Producers

4. Factors Impacting Farm Tractor Demand

Global Agricultural Outlook

Agricultural Commodity Pricing

Labor Force Productivity in Agriculture

Government Subsidies & Regulations

Crop Subsidies

Emissions Regulations

Safety Regulations

Technical Standards

Technology Trends

Current Agricultural Equipment Technology

Technological Outlook: Automation & Other Advanced Technologies

Functional Competition (Used & Rebuilt Equipment)

5. North America

North America: Farm Tractor Market Size

North America: Demand by Country

United States

Canada

Mexico

6. Central & South America

Central & South America: Farm Tractor Market Size

Central & South America: Demand by Country

Brazil

Argentina

Other Central & South America

7. Western Europe

Western Europe: Farm Tractor Market Size

Western Europe: Demand by Country

France

Germany

Italy

United Kingdom

Spain

Netherlands

Other Western Europe

8. Eastern Europe

Eastern Europe: Market Size

Eastern Europe: Demand by Country

Russia

Poland

Other Eastern Europe

9. Asia/Pacific

Asia/Pacific: Market Size

Asia/Pacific: Demand by Country

China

India

Japan

Australia

South Korea

Thailand

Other Asia/Pacific

10. Africa/Mideast

Africa/Mideast: Market Size

Africa/Mideast: Demand by Country

Turkey

Other Africa/Mideast

11. Appendix

Scope

Definitions

Freedonia Methodology

Study-Specific Methodology

Sources

Associations & Agencies

Related Studies & Reports

Country Lists by Region

Macroeconomic Assumptions

Global Economic Outlook

Demographic Trends

Global Agricultural Land Usage


List of Tables

3. Overview

Table 3-1 | Global Farm Tractor Demand, 2009 - 2019

Table 3-2 | Global Farm Tractor Demand by Region, 2009 - 2029 (million dollars)

Table 3-3 | Global Farm Tractor Demand by Type, 2009 - 2029 (million dollars)

Table 3-4 | Global Wheeled Farm Tractor Demand by Region, 2009 - 2029 (million dollars)

Table 3-5 | Global Crawler Farm Tractor Demand by Region, 2009 - 2029 (million dollars)

Table 3-6 | Global Pedestrian-Controlled Farm Tractor Demand by Region, 2009 - 2029 (million dollars)

4. Factors Impacting Farm Tractor Demand

Table 4-1 | Global Agricultural Value Added, 2009 - 2029 (billion 2018 dollars)

5. North America

Table 5-1 | North America: Farm Tractor Demand by Country & Type, 2009 - 2029 (million dollars)

Table 5-2 | United States: Farm Tractor Demand by Type, 2009 - 2029 (million dollars)

Table 5-3 | Canada: Farm Tractor Demand by Type, 2009 - 2029 (million US dollars)

Table 5-4 | Mexico: Farm Tractor Demand by Type, 2009 - 2029 (million dollars)

6. Central & South America

Table 6-1 | Central & South America: Farm Tractor Demand by Country & Type, 2009 - 2029 (million dollars)

Table 6-2 | Brazil: Farm Tractor Demand by Type, 2009 - 2029 (million dollars)

Table 6-3 | Argentina: Farm Tractor Demand by Type, 2009 - 2029 (million dollars)

Table 6-4 | Other Central & South America: Farm Tractor Demand by Type, 2009 - 2029 (million dollars)

7. Western Europe

Table 7-1 | Western Europe: Farm Tractor Demand by Country & Type, 2009 - 2029 (million dollars)

Table 7-2 | France: Farm Tractor Demand by Type, 2009 - 2029 (million dollars)

Table 7-3 | Germany: Farm Tractor Demand by Type, 2009 - 2029 (million dollars)

Table 7-4 | Italy: Farm Tractor Demand by Type, 2009 - 2029 (million dollars)

Table 7-5 | United Kingdom: Farm Tractor Demand by Type, 2009 - 2029 (million dollars)

Table 7-6 | Spain: Farm Tractor Demand by Type, 2009 - 2029 (million dollars)

Table 7-7 | Netherlands: Farm Tractor Demand by Type, 2009 - 2029 (million dollars)

Table 7-8 | Other Western Europe: Farm Tractor Demand by Type, 2009 - 2029 (million dollars)

8. Eastern Europe

Table 8-1 | Eastern Europe: Farm Tractor Demand by Country & Type, 2009 - 2029 (million dollars)

Table 8-2 | Russia: Farm Tractor Demand by Type, 2009 - 2029 (million dollars)

Table 8-3 | Poland: Farm Tractor Demand by Type, 2009 - 2029 (million dollars)

Table 8-4 | Other Eastern Europe: Farm Tractor Demand by Type, 2009 - 2029 (million dollars)

9. Asia/Pacific

Table 9-1 | Asia/Pacific: Farm Tractor Demand by Country & Type, 2009 - 2029 (million dollars)

Table 9-2 | China: Farm Tractor Demand by Type, 2009 - 2029 (million dollars)

Table 9-3 | India: Farm Tractor Demand by Type, 2009 - 2029 (million dollars)

Table 9-4 | Japan: Farm Tractor Demand by Type, 2009 - 2029 (million dollars)

Table 9-5 | Australia: Farm Tractor Demand by Type, 2009 - 2029 (million US dollars)

Table 9-6 | South Korea: Farm Tractor Demand by Type, 2009 - 2029 (million dollars)

Table 9-7 | Thailand: Farm Tractor Demand by Type, 2009 - 2029 (million dollars)

Table 9-8 | Other Asia/Pacific: Farm Tractor Demand by Type, 2009 - 2029 (million dollars)

10. Africa/Mideast

Table 10-1 | Africa/Mideast: Farm Tractor Demand by Country & Type, 2009 - 2029 (million dollars)

Table 10-2 | Turkey: Farm Tractor Demand by Type, 2009 - 2029 (million dollars)

Table 10-3 | Other Africa/Mideast: Farm Tractor Demand by Type, 2009 - 2029 (million dollars)

11. Appendix

Table 11-1 | Relevant HS Codes

Table 11-2 | Relevant NAICS & SIC Codes

Table 11-3 | Relevant NACE Codes

Table 11-4 | Countries in North America

Table 11-5 | Countries in Central & South America

Table 11-6 | Countries in Western Europe

Table 11-7 | Countries in Eastern Europe

Table 11-8 | Countries in the Asia/Pacific Region

Table 11-9 | Countries in the Africa/Mideast Region

Table 11-10 | Global Gross Domestic Product by Region & Country, 2009 - 2029 (billion 2018 dollars)

Table 11-11 | Global Population by Region & Country, 2009 - 2029 (million persons)

Table 11-12 | Global Land Area Harvested by Region, 2009 - 2029 (million hectares)


List of Figures

1. Executive Summary

Figure 1-1 | Global Farm Tractors Market

3. Overview

Figure 3-1 | Global Farm Tractor Demand, 2009 - 2019 (million dollars)

Figure 3-2 | Global Farm Tractor Demand by Region, 2009 - 2029 (billion dollars)

Figure 3-3 | Average Global Farm Tractor Prices, 2009 - 2029 (dollars per unit)

4. Factors Impacting Farm Tractor Demand

Figure 4-1 | Agricultural Commodity Pricing, 2002 - 2019 (2014-2016=100)

5. North America

Figure 5-1 | North America: Farm Tractor Demand by Country, 2009 - 2029 (billion dollars)

Figure 5-2 | United States: Farm Tractor Demand, 2009 - 2019 (million dollars)

Figure 5-3 | Canada: Farm Tractor Demand, 2009 - 2019 (million US dollars)

Figure 5-4 | Mexico: Farm Tractor Demand, 2009 - 2019 (million dollars)

6. Central & South America

Figure 6-1 | Central & South America: Farm Tractor Demand by Country, 2009 - 2029 (billion dollars)

Figure 6-2 | Brazil: Farm Tractor Demand, 2009 - 2019 (million dollars)

Figure 6-3 | Argentina: Farm Tractor Demand, 2009 - 2019 (million dollars)

Figure 6-4 | Other Central & South America: Farm Tractor Demand, 2009 - 2019 (million dollars)

7. Western Europe

Figure 7-1 | Western Europe: Farm Tractor Demand by Country, 2009 - 2029 (billion dollars)

Figure 7-2 | France: Farm Tractor Demand, 2009 - 2019 (million dollars)

Figure 7-3 | Germany: Farm Tractor Demand, 2009 - 2019 (million dollars)

Figure 7-4 | Italy: Farm Tractor Demand, 2009 - 2019 (million dollars)

Figure 7-5 | United Kingdom: Farm Tractor Demand, 2009 - 2019 (million dollars)

Figure 7-6 | Spain: Farm Tractor Demand, 2009 - 2019 (million dollars)

Figure 7-7 | Netherlands: Farm Tractor Demand, 2009 - 2019 (million dollars)

Figure 7-8 | Other Western Europe: Farm Tractor Demand, 2009 - 2019 (million dollars)

8. Eastern Europe

Figure 8-1 | Eastern Europe: Farm Tractor Demand by Country, 2009 - 2029 (billion dollars)

Figure 8-2 | Russia: Farm Tractor Demand, 2009 - 2019 (million dollars)

Figure 8-3 | Poland: Farm Tractor Demand, 2009 - 2019 (million dollars)

Figure 8-4 | Other Eastern Europe: Farm Tractor Demand, 2009 - 2019 (million dollars)

9. Asia/Pacific

Figure 9-1 | Asia/Pacific: Farm Tractor Demand by Country, 2009 - 2029 (billion dollars)

Figure 9-2 | China: Farm Tractor Demand, 2009 - 2019 (million dollars)

Figure 9-3 | India: Farm Tractor Demand, 2009 - 2019 (million dollars)

Figure 9-4 | Japan: Farm Tractor Demand, 2009 - 2019 (million dollars)

Figure 9-5 | Australia: Farm Tractor Demand, 2009 - 2019 (million US dollars)

Figure 9-6 | South Korea: Farm Tractor Demand, 2009 - 2019 (million dollars)

Figure 9-7 | Thailand: Farm Tractor Demand, 2009 - 2019 (million dollars)

Figure 9-8 | Other Asia/Pacific: Farm Tractor Demand, 2009 - 2019 (million dollars)

10. Africa/Mideast

Figure 10-1 | Africa/Mideast: Historical Farm Tractor Demand by Country, 2009 - 2019 (billion dollars)

Figure 10-2 | Turkey: Farm Tractor Demand, 2009 - 2019 (million dollars)

Figure 10-3 | Other Africa/Mideast: Farm Tractor Demand, 2009 - 2019 (million dollars)

11. Appendix


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