North America's Agriculture Tractors Market Projected to Rise at a CAGR of 5.6% During 2019-2024 - Driverless Tractors Present Lucrative Opportunities
DUBLIN, Jan. 21, 2020 /PRNewswire/ -- The "North America Agriculture Tractors Market-Size, Trends, Competitive Analysis and Forecasts (2019-2024)" report has been added to ResearchAndMarkets.com's offering.
Agriculture in North America is mechanized and heavily dependent upon an integrated system of supporting agribusinesses. In the United States and Canada, most farmers and ranchers depend heavily upon technology. The introduction of new technologies has resulted in an increase in both farm size and agricultural output, a decrease in the demand for farm labor, making agriculture more profitable for the farmers. The Governments, especially in Mexico are providing subsidies to buy tractors and farm equipment to promote mechanization. This along with low-interest rates on tractor finance is expected to push the sales of the tractor.
North America is the matured market for tractors and is forecasted to grow at a CAGR of 5.6% during 2019-2024. Driverless tractors are the opportunity segment in North America.
The U.S. accounts for major market share in North America. The country is the origin of most of the technological advancements in the tractor industry in the region. Due to the reduced farm labor supply and drive for greater productivity the use of tractors in Canada has been continuously increasing. The agricultural economy in Mexico is large and modernizing rapidly. Mexico currently employs around 15% of the workforce for agriculture, however, the number has been rapidly declining since the last decade. The push from Government for mechanization to increase farm output indicates a strong potential for tractors market. Mexico is the major exports market of tractors and its parts for the U.S.
The market has been segmented based on the:
- End applications: Utility, Row crop, Garden type, Orchard type, Rotary tillers, and Implement carriers.
- Horse Power: Below 40 HP, 40 HP-100 HP and Above 100 HP
- Wheel Type: Two Wheel and Four Wheel
Competitve Landscape
Deere and Company, CNH Global NV, Mahindra & Mahindra Ltd., AGCO Tractor, Massey Ferguson, and Escorts are a few key players in the market. Aggressive marketing and strengthening the distribution network are major strategies adopted by key players.
Key Deliverables
- Market trends since 2015 and five-year forecasts of market growth
- Detailed analysis of the micro and macro elements influencing demand trends
- Identifying opportunity spaces across segments and countries
- Supply & demand side trend and analysis
- Price trend analysis, investment prospects and competition pattern
- Insights on the growth potential of the market
- Detailed analysis of major producers covering financial investments & strategies adopted
- Competitive landscape of the industry
Key Topics Covered
1. Introduction
1.1 Research Methodology
1.2 Scope of the Study
1.3 Assumptions
2. Summary
2.1 Market Summary By Type
2.2 Market Summary by Geography
3. Industry Dynamics
3.1 Drivers
3.1.1 Growing Access to Subsidies and Credits for Farm Machinery in Asia
3.1.2 Push for Agriculture Mechanization from Policy Makers
3.1.3 Focus to Increase Cropping Intensity
3.1.4 Dwindling Agriculture Laborers Due to Urbanization
3.2 Restraints
3.2.1 Diminishing Area Under Agriculture
3.2.2 Increased Number of Fragmented Landholding in Asia
3.2.2 Consolidating Farmland Under Contract Farming & Co-Operatives
3.3 Opportunities
3.3.1 Growing Emphasis on Precision Farming
3.3.2 Hill Agriculture
3.3.3 Gender Friendly Tools and Equipment
3.3.4 Crop Specific Package of Machines
3.4 Porter's Five Forces Analysis
3.4.1 Bargaining power of Suppliers
3.4.2 Bargaining power of Buyers
3.4.3 Degree of Competition
3.4.4 Threat of Substitution
3.4.5 Threat of new entrants
3.5 Future Trends in the Industry
3.6 Value Chain Analysis
3.7 Industry Policies & Regulations
3.8 Market Innovations
4. Market Size and Forecast
4.1 Market Share, By Types
4.1.1 Utility Tractors
4.1.2 Row crop tractors
4.1.3 Garden Tractor
4.1.4 Orchard Tractor
4.1.4 Rotary Tillers
4.1.5 Others
4.2 Market Share, By Horse Power
4.2.1 Below 40 HP
4.2.2 40 HP-100 HP
4.2.3 Above 100 HP
4.3 Market Share, By Wheel Type
4.3.1 Two Wheel
4.3.2 Four Wheel
5. Country Market Share
5.1 North America
5.1.1 U.S.
5.1.2 Canada
5.1.3 Mexico
5.1.4 Others
6. Competitive Analysis
6.1 Market Share Analysis
6.2 Growth Strategies of leading players
6.3 Investment and Development Prospects
6.3.1 Investment in past five years
6.3.2 Investment Opportunities
6.4 Competition Pattern
6.4.1 Concentration Ratio
6.4.2 Industry Competition
6.5 Price Trend Analysis
6.5.1 Product Classifications and Their Prices
6.5.2 Factors Influencing Prices
7. Company Profiles
7.1 AGCO Corp.
7.2 Claas KGaA mbH
7.3 CNH Industrial N.V.
7.4 Deere and Company
7.5 Deutz-Fahr
7.6 Escorts Limited
7.7 Kubota Corporation
7.8 Kuhn Group
7.9 Mahindra & Mahindra Ltd.
7.10 Tractors & Farm Equipment Ltd.
7.11 Yanmar Company Limited
For more information about this report visit https://www.researchandmarkets.com/r/k2l7hm
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