PUBLISHER: Freedonia Group | PRODUCT CODE: 1248725
PUBLISHER: Freedonia Group | PRODUCT CODE: 1248725
Through 2026, global farm tractor demand is forecast to increase 7% per annum to over $55 billion, exceeding the 2016-2021 rate of growth. After most regional markets performed poorly in 2020 because of the COVID-19 pandemic, global farm tractors sales increased at a double-digit annual pace in 2021 as agricultural sector conditions stabilized, commodity prices rebounded, farm incomes rose, and international trade recovered. Between 2022 and 2023, dramatic rise in world farm tractor prices - caused by high rates of inflation, disruptions to global supply chains, and a worldwide chip shortage - will be the primary driver of global market gains in dollar terms. Real product demand, however, will contract in 2022 and grow at a subdued pace in 2023 because of the surge in prices and issues with the availability of farm tractors in some nations. The market will register healthy growth in both dollar and real terms through 2026 as global farming activity climbs, agricultural sector mechanization rates rise in developing nations, and the use of advanced, high performance tractors increases around the world. Continuing government support for farmers will also support the rise in tractor spending.
This study covers the following types of farm tractors:
Wheel Tractors
Crawler Tractors
Pedestrian-Controlled Tractors
Farm tractor demand data is provided for 20 nations in the following regions:
Scope of the Report
This report covers the scope, size and growth of the global agricultural equipment market, including demand by tractor type. Historical figures are provided for 2011, 2016, and 2021 with forecast for 2026 and 2031. This edition also presents annual demand data for the 2018-2025 period for all countries. Global agricultural tractor demand is also presented in units. In addition, the study gives market share figures for the top six producers in 2021 in dollar terms.
List of Tables
List of Figures