Global Agricultural Tractors Market Advancements Report 2023: Autonomous Tractors, Precision Agtech, and Business Model Transformation to Drive Growth through 2030

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Oct 16, 2023, 13:30 ET

DUBLIN, Oct. 16, 2023 /PRNewswire/ -- The "Growth Opportunities in Agricultural Tractors" report has been added to ResearchAndMarkets.com's offering.

The global agricultural tractor industry is a critical component of the systems that make feeding a global population possible.

Agricultural tractors are used to perform a variety of tasks on farms, including plowing, tilling, planting, and harvesting crops. This industry has grown significantly in recent years, with a global market size of $54.96 billion in 2022 that will reach approximately $81.42 billion in 2030, increasing at a compound annual growth rate (CAGR) of 5% during that period.

Several factors are driving this growth, including an expanding global population, rising demand for food, and increasing mechanization of farming practices. During this same period, the developed markets of the United States and Europe will experience CAGRs of 4.8% and 6.4%, respectively, whereas the developing nations of India and China will show resilient growth rates of 7.1% and 2.6%.

This is due to the large agricultural sector in India and China that see high demand for tractors. In North America and Europe, large-scale agriculture practices drive growth in the tractor market.

Overall, the agricultural tractor industry is highly competitive, with many manufacturers operating and competing for market share. The industry is dominated by a few major players, including John Deere, AGCO Corporation, CNH Industrial, and Kubota Corporation. These companies have a strong presence in many markets and offer a range of products, from small utility tractors to large industrial tractors.

The industry is also characterized by a trend toward more sustainable and efficient tractors, with an increasing focus on reducing emissions and improving fuel efficiency. This trend is driving innovation, with manufacturers developing new technologies such as electric and autonomous tractors.

The analyst expects major innovations in the agricultural tractor market to happen in the fields of precision agriculture, electrification, automation/robotics, new business model transformation, and autonomous tractors. The adoption of precision agriculture tools is already picking up pace in developed markets, yet the trend has yet to catch up in developing markets.

Research Highlights

Analyze market growth trends globally
Evaluate technology trends and market dynamics
Examine market status and understand expectations by 2030

Key Issues Addressed

What are the main areas of demand and growth?
Who are the top industry participants, and what are their anticipated development and launch activities for 2023-2030?
What are some of the notable industry partnerships and highlights?
What are the main factors and trends shaping industry growth?
What is the expected demand for tractor unit sales globally?

Key Topics Covered:

1. Strategic Imperatives

Why Is It Increasingly Difficult to Grow?
The Strategic Imperative
The Impact of the Top 3 Strategic Imperatives on the Agricultural Tractor Industry
Growth Opportunities Fuel the Growth Pipeline Engine

2. Global Agricultural Outlook

Economic Environment: Gross Domestic Product (GDP) Growth
Agricultural Outlook, 2021-2030
Global Use of Major Commodities
Regional Contributions to Food Demand Growth
Sources of Growth in Crop Production
GHG Impact
Commodity Returns
Commodity Price Forecast

3. Growth Opportunity Analysis

Key Findings
Scope of Analysis
Market Segmentation
Value Chain Analysis
Agricultural Tractors: Key Competitors
Growth Metrics
Growth Drivers
Growth Restraints
Forecast Assumptions
Equipment in Operation (EIO) Forecast
Revenue Forecast
Revenue Forecast by Region
Unit Sales Forecast
Unit Sales Forecast by Region
Pricing Range for Different Power Segments: US and India
Competitive Environment
Market Share

4. Growth Opportunity Analysis: United States

Economic Environment
Trade and Land Usage
Economic Environment: Agricultural Acreage
Regional Indicators: North America
Growth Metrics
Equipment in Operation
Revenue Forecast
Unit Sales Forecast

5. Growth Opportunity Analysis: Europe

Economic Environment
Russo-Ukrainian War: Agricultural Machinery Flow
Trade and Land Use
Regional Indicators
Growth Metrics
Equipment in Operation
Revenue Forecast
Unit Sales Forecast
Unit Sales Forecast by Country

6. Growth Opportunity Analysis: India

Economic Environment
Area Harvested and Land Usage: Asia-Pacific
Regional Indicators: Asia-Pacific
Growth Metrics
Equipment in Operation
Revenue Forecast
Unit Sales Forecast

7. Growth Opportunity Analysis: China

Economic Environment
Growth Metrics
Equipment in Operation
Revenue Forecast
Unit Sales Forecast

8. TechVision

The Future of Tractors
Trend 1: Precision Agriculture
Precision Agriculture: OEM Product Mapping
Precision Agriculture: Third-party Solution Providers
Trend 2: Autonomous Tractors
Brief History of Tractors
Autonomous Tractor Tech
Connected Tractors
Autonomous Tractors: Key Product Launches
Autonomous Third-party Solution Providers
Trend 3: New Business Models
Custom Options for Using Tractors
Summary of Alternative Methods of Tractor Procurement
Disruptive Business Models in Agriculture
Trend 4: Decarbonization and Innovation
Major Levers of Carbon Emission Reduction
Considerations from Market Players on Emissions Regulations
Market Requirements for Energy Demand
Future Powertrain and Energy Storage Technologies
Emission Regulations for Nonroad Equipment in US (EPA) and Europe
Government Initiatives for Financing: United States
Government Initiatives for Emissions Control: United States
Carbon Market and Agriculture: United States
Government Initiatives: Europe
Emission Norms: India
Government Initiatives: India
Emission Norms: China
Targeted Tech in Tractors
Major Players' Product Launches
TCO Case Study by ICCT: India
Trend 5: Robotics

9. Major Mergers and Acquisitions

Key Mergers and Acquisitions
Investments in Tractor Tech

10. Growth Opportunity Universe

Growth Opportunity 1: Right Partners for Technological Development
Growth Opportunity 2: New Business Model Revolution
Growth Opportunity 3: Emission Targets and Electrification

11. Next Steps

A selection of companies mentioned in this report includes

AGCO Corporation
CNH Industrial
John Deere
Kubota Corporation

For more information about this report visit https://www.researchandmarkets.com/r/edz56g

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