PUBLISHER: Arizton Advisory & Intelligence | PRODUCT CODE: 1499326
PUBLISHER: Arizton Advisory & Intelligence | PRODUCT CODE: 1499326
The French tractor market size is expected to grow at a CAGR of 3.93% from 2023-2029.
The market is expected to witness considerable year-over-year (YoY) growth due to the following factors:
In addition to the above factors, the growth of the France tractor market is also driven by the increasing demand for food products and the expansion of agricultural land. Farmers are adopting mechanization to meet the growing food demand and improve profitability.
KEY HIGHLIGHTS
MARKET OPPORTUNITIES
Conventionally, farmers used diesel engine tractors known for their high power. Tractors are now more efficient and can complete tasks with less power requirements due to advances in machine technologies and engines. The volatility in diesel prices hampers farmers' budget management. Thus, the agricultural tractor industry witnesses a considerable demand for tractors that run on different fuels, such as plant-oil and biogas-powered tractors.
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
The 50HP-100HP segment is a strong performer in the France tractor market, holding the largest industry share in 2023. This segment caters to medium-scale farmers typically owning 10-20 acres of land. Here's a breakdown of some key points:
Overall, the 50HP-100HP tractor segment is crucial for the France tractor industry, and its future looks favorable due to rising farm mechanization and a growing demand for efficient tractors.
Segmentation by Horsepower
INSIGHTS BY DRIVE TYPE
The France 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, New Holland, and Claas share most of the 2-wheel drive tractors segment.
Segmentation by Drive Type
REGIONAL ANALYSIS
The north zone leads the country in the adoption and penetration of farm mechanization practices. The major agricultural states in the north zone are Hauts-de-France, Ile-de-France, and Centre Val-de-Loire. The agriculture and food industry in the north zone is strong and well-established. The Hauts-de-France region is known for its agriculture, which is highly developed, productive, and diverse. Furthermore, in 2023, the North region held the largest share of the France tractor market, accounting for over 32%. Also, the states in the country's northern zone have a higher level of mechanization than any other part of the country.
Segmentation by Geography
COMPETITIVE LANDSCAPE
The France tractor market is characterized by various global vendors that account for most of the industry share. Therefore, it would be difficult for new players to compete with well-established vendors in the industry. The key competitive factors of the industry players include efficiency, product reliability & availability, after-sales service, and price. Furthermore, the key players in the France tractor market include John Deere, CNH Industrial, AGCO Corporation, and Kubota Corporation. These companies invest heavily in research and development (R&D) to develop new and innovative tractor technologies. They are also expanding their presence in emerging markets to capitalize on the growing demand for agricultural tractors.
Competition in the France tractor industry in pursuing large-scale farming is intense. Agriculture industries experiencing slow growth tend to foster a competitive environment heavily influenced by price due to supply balancing demand. Also, price competition tends to be more significant for new tractor orders than aftermarket services. Considering the forecast for 2029, pricing for new tractor orders is expected to be a particularly influential competitive factor. Furthermore, competition in the aftermarket portion is primarily against large, well-established national and global competitors and, in the country, against the local companies.
Key Company Profiles
Other Prominent Vendors
KEY QUESTIONS ANSWERED:
LIST OF TABLES