PUBLISHER: Arizton Advisory & Intelligence | PRODUCT CODE: 1275609
PUBLISHER: Arizton Advisory & Intelligence | PRODUCT CODE: 1275609
The Middle East and Africa tractor market is expected to grow at a CAGR of 4.77% from 2022-2028.
KEY HIGHLIGHTS
MARKET TRENDS & OPPORTUNITIES
Use of Energy-efficient Agri Equipment
The Middle East & African countries' governments aim to improve the living conditions of those in the agricultural supply chain and to provide essential equipment sustainably. This aim joins an already announced objective to reduce total greenhouse gas (GHG) emissions by 30-40% by 2030 and zero emissions by 2040. The adoption of energy-efficient agricultural equipment will enable the fulfillment of these objectives.
Technological Advances in Tractor Technology
A new frontier of innovation emerged as agriculture met digital technology, opening various paths to a smart agricultural future. Tractor manufacturers are competitive, and companies constantly strive to innovate and ensure product differentiation at affordable prices. State-of-the-art technology-based tractors are currently available in the market. GPS and remote sensing make farming more accurate and productive.
SEGMENTATION INSIGHTS
INSIGHTS BY HORSEPOWER
In 2022, the less 50 HP segment recorded a high share in the Middle East and Africa tractor market. The major factor for the steady growth of the low-power range of tractors is the increased business turnover among hobby and livestock farmers. Compact tractors are widely used by farmers engaged in row-crop farming and horticulture in Middle East & African countries. Individuals keen to grow organic foods at a small level also use these tractors. The less than 50 HP tractors are best suited for inter-culture operations and in and around crops with softer stems and low-rise plants. Moreover, compact tractors can be used for pesticide spraying.
Segmentation by Horsepower
INSIGHTS BY WHEEL-DRIVE
The tractor market in MEA mainly consists of 2WD tractors and 4WD tractors are a few in the region. The prospect for both 2WD & 4WD tractors is promising in the region. The governments of MEA countries are focusing on farmers and devising policies such as financial assistance and subsidies to empower small-scale farmers. The Middle East and Africa tractor market is dominated by low-range HP 2WD tractors. Among the several tractor models available in the country, 2WD tractors are the most favored by farmers. The low relative cost of ownership, the sufficiency of features and haulage power, and convention make 2WD tractors more popular among farmers. Ease of driving and flexibility with light loads and in plain fields are major factors that boost the demand for two-wheel-drive tractors. John Deere, Massey Ferguson, and New Holland share most of the 2-wheel drive tractors segment.
Segmentation by Wheel Drive
GEOGRAPHICAL ANALYSIS
Turkey holds the highest Middle East and Africa tractor market share, accounting for around 80% in 2022. Mechanized feedlots typically characterize the agricultural scenario in Turkey through automatic irrigation systems and agricultural machinery. As the demand for food and associated resources from the Middle East & Africa's largest economy rises, there has been a tremendous rise in input resources such as farm machinery usage to improve productivity and efficiency. Also, the agriculture sector in Turkey is typically marked by a tremendous decline in the labor force, a consistent rise in productivity, and the segregation of larger farms into smaller and medium ones. The Government of Turkey plays a major role in ensuring self-sufficiency in food grain production as per the increasing population. The government has consistently increased its budget allocation for agriculture and allied activities.
Segmentation by Geography
COMPETITIVE LANDSCAPE
John Deere, New Holland, Massey Ferguson, and Mahindra dominated the Middle East and Africa tractor market with a collective industry share of over 40% in 2022. These brands have adopted several strategies to gain traction in the industry. These players are thriving on innovation in the tractor industry. They are increasingly investing in developing advanced agricultural tractor technology for precision farming and machine automation.
Key Company Profiles
Other Prominent Vendors
Recent Developments
WHY SHOULD YOU BUY THIS REPORT?
This report is among the few in the market that offer outlook and opportunity analyses forecast in terms of:
I. Segmentation by Horsepower
II. Segmentation by Wheel Drive
III. Segmentation by Geography
KEY QUESTIONS ANSWERED: