World Tractors

As Quoted In AgFax

Slowing growth in many large, developing countries (e.g., Brazil, China, India) after an extended period of rapid gains will counterbalance a strong recovery in the US, Western Europe, and Japan.

World demand to rise 6.8% annually through 2016

World demand for tractors is expected to increase 6.8 percent per year through 2016 to $122 billion, growing at the same pace as during the 2006-2011 period. A moderation in sales growth in many large, developing countries -- particularly Brazil, China, and India -- after an extended period of rapid gains will counterbalance a strong recovery in the US, Western Europe, and Japan from the effects of the 2009 global economic recession.

Asia/Pacific region to remain dominant market

Demand for tractors in the Asia/Pacific region will be more than twice that of any other region in 2016, with China alone comprising 31 percent of the global total. Healthy population expansion and economic growth in China and other developing Asian nations such as India and Thailand will drive an expansion in construction activity in these countries and place heightened pressure on their agricultural sectors to become more efficient and productive, boosting associated tractor sales. Central and South America will post strong sales gains as well, due primarily to the large and increasingly mechanized agricultural sectors in Brazil and Argentina.

In the mature markets of the industrialized world, sales of tractors will continue to be largely determined by demand for replacement machinery and the efficiency gains provided by newer, more sophisticated equipment. During the 2008-2009 economic crisis, many tractor operators in the agriculture, construction, and mining sectors delayed replacing older machinery, and the inherent time lag in each of these markets in response to improving economic circumstances will govern tractor sales growth patterns going forward. While the construction and mining sectors tend to respond more slowly to changes in economic conditions due to the large amounts of capital that must be committed, the agricultural sector typically responds much more quickly. This release of pent-up demand will act as a restraint on market growth for a number of years, until the start of a new replacement cycle.

Construction and mining markets to see strong gains

Agricultural tractors will continue to account for the largest share of product sales in 2016, followed by tractors for construction and mining applications. However, due primarily to high 2011 levels of demand and the timing of replacement cycles in the US, Western Europe, and Japan, global agricultural tractor sales growth will slow through 2016. Increased construction expenditures and mining output in many areas of the world will drive healthy gains in these market segments. On the other hand, demand for commercial and consumer tractors will be hindered by limited opportunities for sales growth in the US.

Study Scope

This study analyzes the $88 billion world tractor industry. It presents historical demand data for the years 2001, 2006 and 2011, and forecasts for 2016 and 2021 by market (e.g., agriculture, construction, mining, consumer and commercial), product (wheeled, crawler, pedestrian-controlled), world region and for 23 countries. The study also considers market environment factors, details industry structure, evaluates company market share and profiles 40 industry participants, including Caterpillar, Deere, and AGCO.

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  1. World Tractors

    $6,300.00

    1. 1 INTRODUCTION

      $365.00

    2. 2 EXECUTIVE SUMMARY

      $200.00

      1. Table | WORLD TRACTOR DEMAND (billion dollars)

    3. 3 MARKET ENVIRONMENT

      $2,107.00

      1. 3.1 General

        $82.00

      2. 3.2 World Economic Overview

        $445.00

        1. 3.2.1 Recent Historical Trends

          $125.00

        2. 3.2.2 World Economic Outlook

          $284.00

          1. Table | WORLD GROSS DOMESTIC PRODUCT BY REGION (billion 2010 dollars)

      3. 3.3 World Demographic Overview

        $229.00

        1. 3.3.1 Population

          $91.00

          1. Table | WORLD POPULATION BY REGION (million persons)

        2. 3.3.2 Nonurban Population

          $98.00

          1. Table | WORLD NONURBAN POPULATION BY REGION (million persons)

      4. 3.4 World Gross Fixed Investment Outlook

        $122.00

        1. Table | WORLD GROSS FIXED INVESTMENT BY REGION (billion 2010 dollars)

      5. 3.5 World Agricultural Outlook

        $129.00

        1. Table | WORLD AGRICULTURAL VALUE ADDED BY REGION (billion 2010 dollars)

      6. 3.6 World Construction Outlook

        $326.00

        1. Table | WORLD CONSTRUCTION EXPENDITURES BY REGION (billion 2010 dollars)

      7. 3.7 World Mining Outlook

        $120.00

        1. Table | WORLD MINING OUTPUT BY REGION (million metric tons)

      8. 3.8 Pricing Patterns

        $167.00

        1. Table | WORLD TRACTOR PRICING PATTERNS

      9. 3.9 Technology Trends

        $253.00

      10. 3.10 Used & Rebuilt Equipment

        $114.00

      11. 3.11 Legal & Regulatory Environment

        $137.00

    4. 4 OVERVIEW

      $2,027.00

      1. 4.1 General

        $82.00

      2. 4.2 Regional Overview

        $531.00

        1. 4.2.1 Demand

          $213.00

          1. Table | WORLD TRACTOR DEMAND BY REGION (million dollars)

        2. 4.2.2 Production

          $152.00

          1. Table | WORLD TRACTOR SHIPMENTS BY REGION (million dollars)

        3. 4.2.3 International Trade

          $120.00

          1. Table | WORLD TRACTOR NET EXPORTS BY REGION (million dollars)

      3. 4.3 Demand by Market

        $860.00

        1. Table | WORLD TRACTOR DEMAND BY MARKET (million dollars)

        2. 4.3.1 Agriculture

          $166.00

          1. Table | WORLD AGRICULTURAL TRACTOR DEMAND BY REGION (million dollars)

        3. 4.3.2 Construction

          $162.00

          1. Table | WORLD CONSTRUCTION TRACTOR DEMAND BY REGION (million dollars)

        4. 4.3.3 Mining

          $149.00

          1. Table | WORLD MINING TRACTOR DEMAND BY REGION (million dollars)

        5. 4.3.4 Consumer & Commercial

          $161.00

          1. Table | WORLD CONSUMER & COMMERCIAL TRACTOR DEMAND BY REGION (million dollars)

        6. 4.3.5 Other

          $175.00

          1. Table | WORLD OTHER TRACTOR DEMAND BY REGION (million dollars)

      4. 4.4 Demand by Type

        $566.00

        1. Table | WORLD TRACTOR DEMAND BY TYPE (million dollars)

        2. 4.4.1 Wheeled

          $184.00

          1. Table | WORLD WHEELED TRACTOR DEMAND BY REGION (million dollars)

        3. 4.4.2 Crawler

          $164.00

          1. Table | WORLD CRAWLER TRACTOR DEMAND BY REGION (million dollars)

        4. 4.4.3 Pedestrian-Controlled

          $149.00

          1. Table | WORLD PEDESTRIAN-CONTROLLED TRACTOR DEMAND BY REGION (million dollars)

    5. 5 NORTH AMERICA

      $1,275.00

      1. 5.1 North America: General

        $89.00

      2. 5.2 North America: Tractor Supply & Demand

        $90.00

        1. Table | NORTH AMERICA: TRACTOR SUPPLY & DEMAND (million dollars)

      3. 5.3 North America: Tractor Outlook & Suppliers

        $120.00

        1. Table | NORTH AMERICA: TRACTOR DEMAND BY MARKET & TYPE (million dollars)

      4. 5.4 United States

        $393.00

        1. Table | UNITED STATES: TRACTOR SUPPLY & DEMAND (million dollars)

        2. Table | UNITED STATES: TRACTOR DEMAND BY MARKET & TYPE (million dollars)

      5. 5.5 Canada

        $290.00

        1. Table | CANADA: TRACTOR SUPPLY & DEMAND (million US dollars)

        2. Table | CANADA: TRACTOR DEMAND BY MARKET & TYPE (million US dollars)

      6. 5.6 Mexico

        $292.00

        1. Table | MEXICO: TRACTOR SUPPLY & DEMAND (million dollars)

        2. Table | MEXICO: TRACTOR DEMAND BY MARKET & TYPE (million dollars)

    6. 6 WESTERN EUROPE

      $2,579.00

      1. 6.1 Western Europe: General

        $109.00

      2. 6.2 Western Europe: Tractor Supply & Demand

        $117.00

        1. Table | WESTERN EUROPE: TRACTOR SUPPLY & DEMAND (million dollars)

      3. 6.3 Western Europe: Tractor Outlook & Suppliers

        $121.00

        1. Table | WESTERN EUROPE: TRACTOR DEMAND BY MARKET & TYPE (million dollars)

      4. 6.4 Germany

        $285.00

        1. Table | GERMANY: TRACTOR SUPPLY & DEMAND (million dollars)

        2. Table | GERMANY: TRACTOR DEMAND BY MARKET & TYPE (million dollars)

      5. 6.5 France

        $265.00

        1. Table | FRANCE: TRACTOR SUPPLY & DEMAND (million dollars)

        2. Table | FRANCE: TRACTOR DEMAND BY MARKET & TYPE (million dollars)

      6. 6.6 Italy

        $298.00

        1. Table | ITALY: TRACTOR SUPPLY & DEMAND (million dollars)

        2. Table | ITALY: TRACTOR DEMAND BY MARKET & TYPE (million dollars)

      7. 6.7 United Kingdom

        $277.00

        1. Table | UNITED KINGDOM: TRACTOR SUPPLY & DEMAND (million dollars)

        2. Table | UNITED KINGDOM: TRACTOR DEMAND BY MARKET & TYPE (million dollars)

      8. 6.8 Spain

        $252.00

        1. Table | SPAIN: TRACTOR SUPPLY & DEMAND (million dollars)

        2. Table | SPAIN: TRACTOR DEMAND BY MARKET & TYPE (million dollars)

      9. 6.9 The Netherlands

        $262.00

        1. Table | THE NETHERLANDS: TRACTOR SUPPLY & DEMAND (million dollars)

        2. Table | THE NETHERLANDS: TRACTOR DEMAND BY MARKET & TYPE (million dollars)

      10. 6.10 Other Western Europe

        $593.00

        1. Table | OTHER WESTERN EUROPE: TRACTOR SUPPLY & DEMAND (million dollars)

        2. Table | OTHER WESTERN EUROPE: TRACTOR DEMAND BY MARKET & TYPE (million dollars)

        3. Table | OTHER WESTERN EUROPE: TRACTOR SUPPLY & DEMAND BY COUNTRY (million dollars)

    7. 7 ASIA/PACIFIC

      $2,550.00

      1. 7.1 Asia/Pacific: General

        $112.00

      2. 7.2 Asia/Pacific: Tractor Supply & Demand

        $141.00

        1. Table | ASIA/PACIFIC: TRACTOR SUPPLY & DEMAND (million dollars)

      3. 7.3 Asia/Pacific: Tractor Outlook & Suppliers

        $125.00

        1. Table | ASIA/PACIFIC: TRACTOR DEMAND BY MARKET & TYPE (million dollars)

      4. 7.4 China

        $368.00

        1. Table | CHINA: TRACTOR SUPPLY & DEMAND (million dollars)

        2. Table | CHINA: TRACTOR DEMAND BY MARKET & TYPE (million dollars)

      5. 7.5 India

        $315.00

        1. Table | INDIA: TRACTOR SUPPLY & DEMAND (million dollars)

        2. Table | INDIA: TRACTOR DEMAND BY MARKET & TYPE (million dollars)

      6. 7.6 Japan

        $306.00

        1. Table | JAPAN: TRACTOR SUPPLY & DEMAND (million dollars)

        2. Table | JAPAN: TRACTOR DEMAND BY MARKET & TYPE (million dollars)

      7. 7.7 South Korea

        $308.00

        1. Table | SOUTH KOREA: TRACTOR SUPPLY & DEMAND (million dollars)

        2. Table | SOUTH KOREA: TRACTOR DEMAND BY MARKET & TYPE (million dollars)

      8. 7.8 Australia

        $280.00

        1. Table | AUSTRALIA: TRACTOR SUPPLY & DEMAND (million US dollars)

        2. Table | AUSTRALIA: TRACTOR DEMAND BY MARKET & TYPE (million US dollars)

      9. 7.9 Thailand

        $298.00

        1. Table | THAILAND: TRACTOR SUPPLY & DEMAND (million dollars)

        2. Table | THAILAND: TRACTOR DEMAND BY MARKET & TYPE (million dollars)

      10. 7.10 Other Asia/Pacific

        $296.00

        1. Table | OTHER ASIA/PACIFIC: TRACTOR SUPPLY & DEMAND (million dollars)

        2. Table | OTHER ASIA/PACIFIC: TRACTOR DEMAND BY MARKET & TYPE (million dollars)

    8. 8 OTHER REGIONS

      $3,992.00

      1. 8.1 Central & South America

        $1,337.00

        1. 8.1.1 Central & South America: General

          $97.00

        2. 8.1.2 Central & South America: Tractor Supply & Demand

          $130.00

          1. Table | CENTRAL & SOUTH AMERICA: TRACTOR SUPPLY & DEMAND (million dollars)

        3. 8.1.3 Central & South America: Tractor Outlook & Suppliers

          $131.00

          1. Table | CENTRAL & SOUTH AMERICA: TRACTOR DEMAND BY MARKET & TYPE (million dollars)

        4. 8.1.4 Brazil

          $361.00

          1. Table | BRAZIL: TRACTOR SUPPLY & DEMAND (million dollars)

          2. Table | BRAZIL: TRACTOR DEMAND BY MARKET & TYPE (million dollars)

        5. 8.1.5 Argentina

          $284.00

          1. Table | ARGENTINA: TRACTOR SUPPLY & DEMAND (million dollars)

          2. Table | ARGENTINA: TRACTOR DEMAND BY MARKET & TYPE (million dollars)

        6. 8.1.6 Other Central & South America

          $334.00

          1. Table | OTHER CENTRAL & SOUTH AMERICA: TRACTOR SUPPLY & DEMAND (million dollars)

          2. Table | OTHER CENTRAL & SOUTH AMERICA: TRACTOR DEMAND BY MARKET & TYPE (million dollars)

      2. 8.2 Eastern Europe

        $1,409.00

        1. 8.2.1 Eastern Europe: General

          $97.00

        2. 8.2.2 Eastern Europe: Tractor Supply & Demand

          $105.00

          1. Table | EASTERN EUROPE: TRACTOR SUPPLY & DEMAND (million dollars)

        3. 8.2.3 Eastern Europe: Tractor Outlook & Suppliers

          $113.00

          1. Table | EASTERN EUROPE: TRACTOR DEMAND BY MARKET & TYPE (million dollars)

        4. 8.2.4 Russia

          $276.00

          1. Table | RUSSIA: TRACTOR SUPPLY & DEMAND (million dollars)

          2. Table | RUSSIA: TRACTOR DEMAND BY MARKET & TYPE (million dollars)

        5. 8.2.5 Poland

          $282.00

          1. Table | POLAND: TRACTOR SUPPLY & DEMAND (million dollars)

          2. Table | POLAND: TRACTOR DEMAND BY MARKET & TYPE (million dollars)

        6. 8.2.6 Other Eastern Europe

          $533.00

          1. Table | OTHER EASTERN EUROPE: TRACTOR SUPPLY & DEMAND (million dollars)

          2. Table | OTHER EASTERN EUROPE: TRACTOR DEMAND BY MARKET & TYPE (million dollars)

          3. Table | OTHER EASTERN EUROPE: TRACTOR SUPPLY & DEMAND BY COUNTRY (million dollars)

      3. 8.3 Africa/Mideast

        $1,246.00

        1. 8.3.1 Africa/Mideast: General

          $108.00

        2. 8.3.2 Africa/Mideast: Tractor Supply & Demand

          $114.00

          1. Table | AFRICA/MIDEAST: TRACTOR SUPPLY & DEMAND (million dollars)

        3. 8.3.3 Africa/Mideast: Tractor Outlook & Suppliers

          $94.00

          1. Table | AFRICA/MIDEAST: TRACTOR DEMAND BY MARKET & TYPE (million dollars)

        4. 8.3.4 Turkey

          $263.00

          1. Table | TURKEY: TRACTOR SUPPLY & DEMAND (million dollars)

          2. Table | TURKEY: TRACTOR DEMAND BY MARKET & TYPE (million dollars)

        5. 8.3.5 Iran

          $310.00

          1. Table | IRAN: TRACTOR SUPPLY & DEMAND (million dollars)

          2. Table | IRAN: TRACTOR DEMAND BY MARKET & TYPE (million dollars)

        6. 8.3.6 Other Africa/Mideast

          $358.00

          1. Table | OTHER AFRICA/MIDEAST: TRACTOR SUPPLY & DEMAND (million dollars)

          2. Table | OTHER AFRICA/MIDEAST: TRACTOR DEMAND BY MARKET & TYPE (million dollars)

    9. 9 INDUSTRY STRUCTURE

      $8,956.00

      1. 9.1 General

        $82.00

      2. 9.2 Industry Composition

        $85.00

        1. Table | WORLD TRACTOR SALES BY COMPANY, 2011 (million dollars)

      3. 9.3 Market Share

        $322.00

      4. 9.4 Product Development & Manufacturing

        $139.00

      5. 9.5 Marketing & Distribution

        $111.00

      6. 9.6 Cooperative Agreements

        $353.00

        1. Table | SELECTED COOPERATIVE AGREEMENTS

      7. 9.7 Financial Requirements

        $118.00

      8. 9.8 Mergers & Acquisitions

        $98.00

        1. Table | SELECTED ACQUISITIONS & DIVESTITURES

      9. 9.9 Company Profiles

        $8,139.00

        1. 9.9.1 AGCO Corporation

          $421.00

        2. 9.9.2 ARGO SpA

          $103.00

        3. 9.9.3 Briggs & Stratton Corporation

          $252.00

        4. 9.9.4 Caterpillar Incorporated

          $433.00

        5. 9.9.5 Changzhou Dongfeng Agricultural Machinery Group Company Limited

          $98.00

        6. 9.9.6 Chelyabinsk Tractor Plant-Uraltrac Limited

          $105.00

        7. 9.9.7 China National Machinery Industry Corporation

          $312.00

        8. 9.9.8 CLAAS KGaA mbH

          $212.00

        9. 9.9.9 Concern Tractor Plants NV

          $148.00

        10. 9.9.10 Daedong Industrial Company Limited

          $141.00

        11. 9.9.11 Deere & Company

          $516.00

        12. 9.9.12 Doosan Infracore Company Limited

          $236.00

        13. 9.9.13 Escorts Limited

          $225.00

        14. 9.9.14 Fiat Industrial SpA

          $439.00

        15. 9.9.15 Foton Lovol International Heavy Industries Company Limited

          $82.00

        16. 9.9.16 Goldhofer AG

          $97.00

        17. 9.9.17 HTC holdings as

          $176.00

        18. 9.9.18 Husqvarna AB

          $139.00

        19. 9.9.19 Hyundai Heavy Industries Company Limited

          $133.00

        20. 9.9.20 Iseki & Company Limited

          $176.00

        21. 9.9.21 JCB Limited

          $129.00

        22. 9.9.22 John Bean Technologies Corporation

          $135.00

        23. 9.9.23 Komatsu Limited

          $336.00

        24. 9.9.24 Kubota Corporation

          $317.00

        25. 9.9.25 Liebherr-International AG

          $220.00

        26. 9.9.26 Lonking Holdings Limited

          $134.00

        27. 9.9.27 Mahindra & Mahindra Limited

          $300.00

        28. 9.9.28 MTD Products Incorporated

          $227.00

        29. 9.9.29 Same Deutz-Fahr Group SpA

          $319.00

        30. 9.9.30 Shandong Shifeng Group Company Limited

          $82.00

        31. 9.9.31 Terex Corporation

          $194.00

        32. 9.9.32 Toro Company

          $191.00

        33. 9.9.33 Tractors and Farm Equipment Limited

          $160.00

        34. 9.9.34 Trepel Airport Equipment GmbH

          $132.00

        35. 9.9.35 TUG Technologies Corporation

          $100.00

        36. 9.9.36 Volvo AB

          $227.00

        37. 9.9.37 WORLD Group

          $90.00

        38. 9.9.38 Xuzhou Construction Machinery Group Company Limited

          $104.00

        39. 9.9.39 Yanmar Company Limited

          $163.00

        40. 9.9.40 Zoomlion Heavy Industry Science and Technology Company Limited

          $112.00

      10. 9.10 Other Companies Mentioned in Study

        $424.00

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