Europe Agricultural Tractors Market Size (2024 - 2029)

Europe Agricultural Tractors Market Analysis

The Europe Agricultural Tractors Market size is estimated at USD 15.47 billion in 2024, and is expected to reach USD 19.66 billion by 2029, growing at a CAGR of 4.90% during the forecast period (2024-2029).

• The European agricultural tractors market has grown substantially in recent years, fueled by various factors. Technological advancements like precision farming and automation have allowed farmers to enhance efficiency and productivity. The growing emphasis on sustainability and environmental issues has also increased demand for eco-friendly tractors. Moreover, as farms across Europe consolidate, there is a rising need for larger and more powerful tractors to manage the heavier workloads.
• France, Germany, Italy, and the United Kingdom are among the largest markets for tractors in the European Union, together representing about 60% of agricultural tractor registrations within the region in 2023, according to the European Agricultural Machinery Association (CEMA). In the United Kingdom, tractor registrations are a key indicator of the domestic agricultural machinery market. Tractors and accessories make up nearly half of farmers' expenditures in terms of value. Like other European nations, France has been at the forefront of agricultural mechanization, accounting for around 23% of all agricultural tractors registered in the region in 2023, highlighting its significant role in the European market.
• Factors such as increasing total tractor productivity in farming, reducing post-harvest loss, adding value to agricultural raw materials, and improving the quality of agricultural products are driving the market in the region. The government of France has formulated programs to aid and finance the purchase of agricultural machinery and equipment, including tractors. These factors, coupled with government policies to promote agricultural exports, aid the growth of agriculture mechanization and the adoption of tractors in the country.

Europe Agricultural Tractors Industry Segmentation

An agricultural tractor is a vehicle designed to deliver a high tractive effort to haul a trailer or machinery at slow speeds. The report does not cover other agricultural machinery and attachments for tractors. Tractors used for industrial and construction purposes are also excluded from the study.

The European agricultural tractors market is segmented by horsepower into less than 40 HP, 40 to 99 HP, 100 to 150 HP, 151 to 200 HP, and above 200 HP. The market is segmented by geography into Germany, the United Kingdom, France, Spain, Italy, Russia, Poland, and Rest of Europe. The report offers the market sizing in terms of volume (units) and value (USD).