Agricultural Tractor Market in North America – 77% of Growth to Originate from the US| Introduction of Driverless Agricultural Tractors to Boost Market | Technavio – PR Newswire


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NEW YORK, June 2, 2022 /PRNewswire/ — 77% of the growth will originate from the US for the Agricultural Tractor Market in North America. The US is the key market for the agricultural tractor market in North America. Market growth in this region will be slower than the growth of the market in other regions. The high level of farming activities in 2021 will facilitate the agricultural tractor market growth in the US over the forecast period. The agricultural tractor market in North America size is expected to increase by 25.98 thousand units from 2021 to 2026, registering a CAGR of  2.43%, according to the latest research report from Technavio.
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The agricultural tractor market in North America covers the following areas:
Agricultural Tractor Market in North America Drivers & Challenges
The introduction of driverless agricultural tractors is one of the key drivers supporting the agricultural tractor market growth in North America. The global population has seen rapid growth, accompanied by greater environmental awareness, and therefore farmers must produce more food more sustainably with the same amount of land. Ultimately, autonomous technology will make a difference in the years to come. The factors that will drive the adoption of autonomous tractors are freeing up skilled labor, which can be redeployed, 24/7 working capability, advanced obstacle detection, and others. Such factors are expected to drive market growth during the forecast period.
However, the availability of agricultural tractors on a rental basis is hindering the agricultural tractor market growth in North America. Renting agricultural equipment is a global trend based on the needs of the farmers. The purchase of high-cost machinery is not an option for small-scale farmers who use tractors for a period of three to six months. This is because the average time a tractor is used on the field is 120 days per year.
Therefore, it is much more feasible for a small-scale farmer to rent the equipment instead of purchasing it. As more farmers opt for agricultural tractors on a rental basis, it curtails the growth prospects of new units of agricultural tractors.
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Agricultural Tractor Market in North America Segmentation & Revenue Generating Segment
The agricultural tractor market in North America analysis includes segmentation by engine capacity (low power, mid-power, and high power) and geography (US, Canada, and Mexico). 
The agricultural tractor market share growth in North America by the low power segment will be significant for revenue generation. On average, a low-power agricultural tractor with 24 hp consumes about one liter of fuel per hour. This is opposed to 14 liters of fuel consumption in tractors with 150 hp. This efficiency attracts various small and mid-sized farmers to purchase low-power agricultural tractors. Thus, the popularity of low-hp agricultural tractors has increased over the years and is expected to drive market growth during the forecast period. 
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Companies Mentioned
The agricultural tractor market in North America is fragmented and the vendors are deploying growth strategies such as price, quality, innovation, reputation, brand identity, and distribution to compete in the market. The report analyzes the market’s competitive landscape and offers information on several market vendors, including:
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Agricultural Tractor Market Scope in North America 
Report Coverage
Page number
Base year
Forecast period
Growth momentum & CAGR
Accelerate at a CAGR of 2.43%
Market growth 2022-2026
25.98 th units
Market structure
YoY growth (%)
Regional analysis
US, Canada, and Mexico
Performing market contribution
US at 77%
Key consumer countries
US, Canada, and Mexico
Competitive landscape
Leading companies, Competitive strategies, Consumer engagement scope
Key companies profiled
AGCO Corp., CLAAS KGaA mbH, CNH Industrial NV, Deere and Co., Escorts Ltd., Kubota Corp., Kverneland AS, Mahindra & Mahindra Ltd., SDF SpA, and Tractors and Farm Equipment Ltd.
Market dynamics
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period
Customization purview
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.
Table of Contents:
1. Executive Summary                         
2. Market Landscape                            
               2.1 Market ecosystem             
                              Exhibit 01: Parent market
               2.2: Market Characteristics
                           Exhibit 02: Market Characteristics
               2.2 Value chain analysis           
                              Exhibit 03: Value chain analysis: Agricultural and farm machinery
                              2.2.1 Input
                              2.2.2 Inbound logistics
                              2.2.3 Operations
                              2.2.4 Distribution and logistics
                              2.2.5 Marketing and sales
                              2.2.6 After-sales services
                              2.2.7 Innovations
3. Market Sizing                      
               3.1 Market definition
                              Exhibit 04: Offerings of vendors included in the market definition
               3.2 Market segment analysis  
                              Exhibit 05: Market segments
               3.3 Market size 2020 
               3.4 Market outlook: Forecast for 2020 – 2025 
                              3.4.1 Estimating growth rates for emerging and high-growth markets
                              3.4.2 Estimating growth rates for mature markets
                              Exhibit 06: North America – Market size and forecast 2021 – 2026 (thousand units)
                              Exhibit 07: North America market: Year-over-year growth 2021 – 2026 (%)
4. Five Forces Analysis                         
               4.1 Five Forces Summary         
                              Exhibit 08: Five forces analysis 2021 & 2026
               4.2 Bargaining power of buyers            
                              Exhibit 09: Bargaining power of buyers
               4.3 Bargaining power of suppliers        
                              Exhibit 10: Bargaining power of suppliers
               4.4 Threat of new entrants     
                              Exhibit 11: Threat of new entrants
               4.5 Threat of substitutes          
                              Exhibit 12: Threat of substitutes
               4.6 Threat of rivalry   
                              Exhibit 13: Threat of rivalry
               4.7 Market condition 
                              Exhibit 14: Market condition – Five forces 2021
5 Market Segmentation by Engine capacity                
               5.1 Market segments
                              The segments covered in this chapter are:
                              Exhibit 15: Engine capacity – Market share 2021-2026 (%)
               5.2 Comparison by Engine capacity     
                              Exhibit 16: Comparison by Engine capacity
               5.3 Low power – Market size and forecast 2021-2026  
                              Exhibit 17: Low power – Market size and forecast 2021-2026 (thousand units)
                              Exhibit 18: Low power – Year-over-year growth 2021-2026 (%)
               5.4 Mid power – Market size and forecast 2021-2026  
                              Exhibit 19: Mid power – Market size and forecast 2021-2026 (thousand units)
                              Exhibit 20: Mid power – Year-over-year growth 2021-2026 (%)
               5.5 High power – Market size and forecast 2021-2026 
                              Exhibit 21: High power – Market size and forecast 2021-2026 (thousand units)
                              Exhibit 22: High power – Year-over-year growth 2021-2026 (%)
               5.6 Market opportunity by Engine capacity     
                              Exhibit 23: Market opportunity by Engine capacity
6 Customer landscape                         
               6.1 Overview
                              Exhibit 24: Customer landscape
7 Geographic Landscape                     
               7.1 Geographic segmentation
                              Exhibit 25: Market share by geography 2021-2026 (%)
               7.2 Geographic comparison    
                              Exhibit 26: Geographic comparison
               7.3 US – Market size and forecast 2021-2026   
                              Exhibit 27: US – Market size and forecast 2021-2026 (thousand units)
                              Exhibit 28: US – Year-over-year growth 2021-2026 (%)
               7.4 Canada – Market size and forecast 2021-2026         
                              Exhibit 29: Canada – Market size and forecast 2021-2026 (thousand units)
                              Exhibit 30: Canada – Year-over-year growth 2021-2026 (%)
               7.5 Mexico – Market size and forecast 2021-2026         
                              Exhibit 31: Mexico – Market size and forecast 2021-2026 (thousand units)
                              Exhibit 32: Mexico – Year-over-year growth 2021-2026 (%)
               7.6 Market opportunity by geography
                              Exhibit 33: Market opportunity by geography (thousand units)
8 Drivers, Challenges, and Trends                   
               8.1 Market drivers      
                              8.1.1 Introduction of driverless agricultural tractors
                              8.1.2 Government initiatives to support sustainable agriculture practices
                              8.1.3 Growing use of compact tractors by small-scale farmers
               8.2     Market challenges          
                              8.2.1 Availability of agricultural tractors on a rental basis
                              8.2.2 Product recalls
                              8.2.3 Small size farmlands encourage the use of manual workers
                              Exhibit 34: Impact of drivers and challenges
               8.3 Market trends      
                              8.3.1 Use of telematics in tractors
                              8.3.2 Increased popularity of small tractors
                              8.3.3 Investments in the development of the agriculture sector
9. Vendor Landscape                            
               10.1   Competitive scenario     
               10.2   Vendor landscape           
                              Exhibit 35: Vendor Landscape
               10.3   Landscape disruption     
                              Exhibit 36: Landscape disruption
               10.4   Industry risks     
                              Exhibit 37: Industry risks
11.   Vendor Analysis                             
               11.1   Vendors covered             
                              Exhibit 38: Vendors covered
               10.2 Market positioning of vendors   
                              Exhibit 39: Market positioning of vendors
                              10.3     AGCO Corp.
                              Exhibit 40: AGCO Corp. – Overview
                              Exhibit 41: AGCO Corp. – Business segments
                              Exhibit 42: AGCO Corp. – Key offerings
                              Exhibit 43: AGCO Corp. – Segment focus
               10.4 CLAAS KGaA mbH             
                              Exhibit 44: CLAAS KGaA mbH – Overview
                              Exhibit 45: CLAAS KGaA mbH – Product and service
                              Exhibit 46: CLAAS KGaA mbH – Key offerings
                              Exhibit 47: CLAAS KGaA mbH – Segment focus
               10.5 CNH Industrial NV            
                              Exhibit 48: CNH Industrial NV – Overview
                              Exhibit 49: CNH Industrial NV – Business segments
                              Exhibit 50: CNH Industrial NV – Key offerings
                              Exhibit 51: CNH Industrial NV – Segment focus
               10.6 Deere and Co.    
                              Exhibit 52: Deere and Co. – Business segments
                              Exhibit 53: Deere and Co. – Key offerings
                              Exhibit 54: Deere and Co. – Segment focus
               10.7 Escorts Ltd.         
                              Exhibit 55: Escorts Ltd. – Overview
                              Exhibit 56: Escorts Ltd. – Business segments
                              Exhibit 57: Escorts Ltd. – Key offerings
                              Exhibit 58: Escorts Ltd. – Segment focus
               10.8 Kubota Corp.      
                              Exhibit 59: Kubota Corp. – Overview
                              Exhibit 60: Kubota Corp. – Business segments
                              Exhibit 61: Kubota Corp. – Key offerings
                              Exhibit 62: Kubota Corp. – Segment focus
               10.9 Kverneland AS    
                              Exhibit 63: Kverneland AS – Overview
                              Exhibit 64: Kverneland AS – Product and service
                              Exhibit 65: Kverneland AS – Key offerings
               10.10 Mahindra & Mahindra Ltd.        
                              Exhibit 66: Mahindra & Mahindra Ltd. – Overview
                              Exhibit 67: Mahindra & Mahindra Ltd. – Product and service
                              Exhibit 68: Mahindra & Mahindra Ltd. – Key offerings
               10.11 SDF SpA             
                              Exhibit 69: SDF SpA – Overview
                              Exhibit 70: SDF SpA – Business segments
                              Exhibit 71: SDF SpA – Key offerings
                              Exhibit 72: SDF SpA – Segment focus
               10.12 Tractors and Farm Equipment Ltd.         
                              Exhibit 73: Tractors and Farm Equipment Ltd. – Overview
                              Exhibit 74: Tractors and Farm Equipment Ltd. – Product and service
                              Exhibit 75: Tractors and Farm Equipment Ltd. – Key offerings
12. Appendix                           
               12.1 Scope of the report         
                              12.1.1 Market definition
                              12.1.2 Objectives
                              12.1.3 Notes and caveats
               12.2 Currency conversion rates for US$            
                              Exhibit 76: Currency conversion rates for US$
               12.3 Research Methodology   
                              Exhibit 77: Research Methodology
                              Exhibit 78: Validation techniques employed for market sizing
                              Exhibit 79: Information sources
               12.4 List of abbreviations        
About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com/
SOURCE Technavio
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