How big is the Tractors Market?

The Tractors Market size is expected to reach USD 84.80 billion in 2024 and grow at a CAGR of 5.90% to reach USD 114.5 billion by 2029. Read More

What is the current Tractors Market size?

In 2024, the Tractors Market size is expected to reach USD 84.80 billion. Read More

Who are the key players in Tractors Market?

Deere and Company, Kubota Corporation, Mahindra Tractors, CNH Industrial and AGCO Corporation are the major companies operating in the Tractors Market. Read More

Which is the fastest growing region in Tractors Market?

Asia-Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029). Read More

Which region has the biggest share in Tractors Market?

In 2024, the Asia-Pacific accounts for the largest market share in Tractors Market. Read More

What years does this Tractors Market cover, and what was the market size in 2023?

In 2023, the Tractors Market size was estimated at USD 79.80 billion. The report covers the Tractors Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Tractors Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029. Read More

What are the key drivers of the Tractors Market?

Key factors driving the Tractors Market are: a) Rising demand for food due to the growing global population b) Technological advancements in farming practices c) Government subsidies for agricultural machinery Read More

What are the key drivers of the Tractors Market?

Key factors driving the Tractors Market are: a) Rising demand for food due to the growing global population b) Technological advancements in farming practices c) Government subsidies for agricultural machinery Read More

Tractor Market Share & Size

Tractor Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

The Report Covers Global Tractor Market is Segmented by Horsepower (Below 40 HP, 40 HP - 100 HP, and Above 100 HP), by Drive Type (Two-Wheel Drive and Four-Wheel Drive/All-Wheel Drive), and by Geography (North America, Europe, Asia-Pacific, and the Rest of the World). The Report Offers Market Size and Forecasts in Terms of Value in USD Billion for all the Above Segments.

Tractors Industry Overview

The tractor market is moderately consolidated as it witnesses active engagement from several global and regional players. Major players such as Mahindra & Mahindra, Tractor, Kubota Corporation, Farm Equipment Limited, and HMT Limited are adopting agreements and product launches as key developmental strategies to improve the product portfolio of tractor products. For instance,

In December 2023, AutoNxt Automation unveiled its latest innovations at Krishithon 2023, the largest agricultural exhibition in the country. During the event, Kaustubh Dhonde, the company's Founder and CEO, proudly introduced a new Loader application in a 45HP tractor and presented the prototype of a 20HP Electric Tractor. Krishithon 2023, now in its 16th edition, served as a pivotal platform for AutoNxt Automation to showcase its dedication to transforming the agricultural sector.
In July 2023, Monarch Tractor, renowned for its MK-V, a fully electric, driver-optional, and connected tractor, announced the expansion of its operations in Singapore. This move signifies substantial growth and a strong interest in the company's AI, robotics, and smart farming technology within Asia Pacific. The decision to extend operations reflects Monarch Tractor's strategic positioning to capitalize on the burgeoning demand for advanced agricultural technologies in Asia-Pacific.
In November 2022, At SIMA 2022, New Holland debuted the T8 tractor with Raven Autonomy, a driverless grain cart harvest application. It incorporates OMNiDRIVE, the world's first driverless agriculture technology for grain cart harvesting. The cutting-edge technology stack allows the farmer to monitor, synchronize, and operate a driverless tractor from the harvester's cab.