A tractor is a farm automobile that provides the power and traction to automate agricultural industry, especially in villages. However, the tractor is used in various tasks even outside agriculture. Agricultural implements are towed behind a tractor, which then provides the source of power for the mechanization of implements. Agricultural usage of a tractor is the largest segment in the agricultural machinery sector. Improvement in efficiency is one of the reasons why farmers popularly employ tractors
Agriculture wheeled machinery market is segmented into utility tractors, row crop tractors, orchard tractors, industrial tractor, garden tractor, rotary tillers, implement carrier by type. Row crop, utility, and orchard are the most widely used tractors in the world and accounted for largest share of the markets respectively.
The increase in demand from emerging economies along with government collaboration in this sector is boosting the growth of the market. Apart from this, the necessity to increase the productivity every year, population growth and rise in demand for food all over the world are the key drivers for this market. The wheeled tractors can’t be used in rough lands which hinder the growth of the market.
Based on geography, countries in the North America and APAC region are the top contributors to this market. India, China, Argentina, and Brazil are identified as the predominant markets for Wheeled Tractor.
With the technological advancement of tractors, smart tractors that use GPS maps and electronic sensors have been added to the Indian agricultural tractor market recently. The growth rate of agricultural tractor sales in India was one of the highest recorded in the global market, in the last three years. Several government subsidies and incentives for farm mechanization are driving the agricultural tractor machinery market in India.
The growth in the tractor market of the country is also driven by the huge land holdings available in the country. A tractor is a cost-intensive machinery, which is versatile and serves multiple purposes, including that of land reclamation and for implementing various crop cultivation. Also, getting into this market does not require any license, government regulations or any other constraints that otherwise play a role in preventing companies from entering the tractors and agricultural machinery manufacturing industry. However, the erratic nature of the demand-side dynamics in the country for agricultural tractors prevents the growth of the market to an extent.
Short shelf-life of conventional machines increases the need for technically advanced machinery to achieve higher productivity and substitute human labour. Technological advancement, along with the heavy integration of precision farming, is going to provide opportunities for future growth in the tractor machinery market. There are comprehensive farm mechanization programs in India, which aim to integrate the use of available human and animal farm power with mechanical sources of power like that for tractors, for increasing the productivity, thus, driving the market growth.
The major companies operating in the global Wheeled Tractor Market are Mahindra & Mahindra, Deere and Company, AGCO tractor, CNH Global NV, Massey Ferguson, Farmtrac Tractor, Escorts, Foton Loval, Kukje, Lindner, LS Mtron, Machinery and Industrial group NV, Shibaura, Tractorul UTB and VST Tillers.
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