The global four-wheel drive tractor market size is expected to reach US$ 23 billion by 2030 expanding at a CAGR of 3.6% from 2021 to 2030. The increase in global warming is prompting most tractor manufacturers to develop efficient tractor technologies for their tractors, which is anticipated to boost the four-wheel drive tractor market across the globe.
Additionally, subsidies provided by governments for farmers on agricultural equipment, in order to boost the production of farms, is anticipated to propel the market for agriculture tractors during the forecast period. Moreover, rising adoption of agricultural equipment in developing and developed countries, where agriculture is a major contributor to their respective economies, is boosting the rate of harvesting. Increasing population is fueling the demand for agricultural products consistently, which further boosts the demand for powerful tractors with four-wheel drives. Currently, farmers require large and more powerful tractors for heavy applications in farming in order to boost agricultural yield. This, in turn, is estimated to propel the demand for four-wheel drive tractors across the globe.
Technological progression and development of several advanced combustion modes is anticipated to boost the automotive sector, owing to rise in the demand for high efficiency and to lower carbon emission. Moreover, advancements in terms of electric tractor technology are expected to boost the production of electric tractors across the globe, owing to increase in the demand for tractors during the forecast period. This, in turn is driving the four-wheel drive tractor market, globally.
Sales of Four Wheel Drive Tractors to Grow amid COVID-19 Pandemic
Although the automotive sector is treading through a dark phase in 2020 due to the novel COVID-19 pandemic, the four-wheel-drive tractor market is projected to remain unaffected by the ongoing COVID-19 situation. The sale of four-wheel drive tractors in developing regions of the Asia Pacific region, including India, is witnessing consistent growth. Positive market sentiments in the semi-urban and rural sectors of the Asia Pacific region are expected to drive the expansion of the market for four-wheel drive tractors in 2020. In addition, relaxation in rules for the farming sector during lockdown in several nations is another factor expected to propel the growth of the global four-wheel drive tractor market in 2020.
Expansion of Four-wheel Drive Tractor Market
A surge in demand for high performance tractors across the globe is projected to boost the four-wheel drive tractor market during the forecast period. China witnessed a surge in the production of both diesel and electric propulsion enabled tractors.
Based on propulsion system, the diesel segment dominated the market, as the production of diesel engine tractors is higher as compared to that of electric and hybrid tractors. However, rise in preference toward electric tractors is anticipated to boost the electric segment during the forecast period.
In terms of operation, the global four-wheel drive tractor market was dominated by the manual segment. However, increase in the demand for autonomous tractor technology prompted by high performance, fuel efficient tractors, coupled with enactment of emission regulation is fueling the demand for autonomous tractors during the forecast period.
Based on power output, consumer preference toward tractors with power output ranging from 40 HP to 100 HP, led the segment to account for a prominent share of the market, in terms of revenue. Tractors in this segment are cost-effective and can deliver enough power output to perform a wide range of agricultural and forest applications. This, in turn, is estimated to propel the 40 HP to 100 HP segment during the forecast period.
Regional Analysis of Four-wheel Drive Tractor Market
Based on region, the global four-wheel drive tractor market has been segregated into North America, Latin America, Europe, East Asia Pacific, South Asia Pacific, and Middle East & Africa. North America is projected to be highly lucrative market, globally, during the forecast period. This is primarily due to the presence of prominent tractor manufacturers in the U.S. and Canada. Tractor manufacturers in North America are projected to increase investment in electric propulsion and autonomous tractor technologies during the forecast period, which led the region to account for a major share of the global market.
Major Players in Four-wheel Drive Tractor Market
A few of prominent players operating in the global four-wheel drive tractor market include AGCO Corporation, CLAAS KGaA GmbH, CNH Industrial N.V., Deere & Company, Escorts Limited, Hitachi, Ltd., Komatsu Corp., Mahindra & Mahindra Ltd., SAME DEUTZ-FAHR Italia S.p.A., and YANMAR CO., LTD.
By Power Output
By Propulsion System
By End Use
The Four-wheel Drive Tractor market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.
The report provides size (in terms of volume and value) of Four-wheel Drive Tractor market for the base year 2020 and the forecast between 2021 and 2030. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.
This report focuses on the global Four-wheel Drive Tractor market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Four-wheel Drive Tractor market development in United States, Europe and China.
It is pertinent to consider that in a volatile global economy, we haven’t just conducted Four-wheel Drive Tractor market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.
In terms of production side, this report researches the Four-wheel Drive Tractor capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.
In terms of consumption side, this report focuses on the consumption of Four-wheel Drive Tractor by regions (countries) and application.
Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Four-wheel Drive Tractor market. These figures have been provided in terms of both revenue and volume for the period 2017 to 2030. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.
With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Four-wheel Drive Tractor market companies.
Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Four-wheel Drive Tractor market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.
The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.
Overall, this is an in-depth research report specifically for the Four-wheel Drive Tractor industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.
Four-wheel Drive Tractor market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Four-wheel Drive Tractor market.
Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Four-wheel Drive Tractor market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.
Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Four-wheel Drive Tractor market. These factors have benefited the growth of the global market for Four-wheel Drive Tractor. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.
New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Four-wheel Drive Tractor. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).
In this study, the years considered to estimate the market size of Four-wheel Drive Tractor are as follows:
Reasons to Purchase this Report:
- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.
This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.
Market Size Estimation
Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users).
The market estimations in this report are based on the selling price (excluding any discounts provided by the manufacturer, distributor, wholesaler or traders). Market share analysis, assigned to each of the segments and regions are achieved through product utilization rate and average selling price.
Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.
All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or others factors are accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Vision Research Reports and presented in this report.
Market Breakdown and Data Triangulation
After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation. Extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report.
Secondary Sources occupies approximately 25% of data sources, such as press releases, annual reports, Non-Profit organizations, industry associations, governmental agencies and customs data, and so on. This research study includes secondary sources; directories; databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), TRADING ECONOMICS, and avention; Investing News Network; statista; Federal Reserve Economic Data; annual reports; investor presentations; and SEC filings of companies.
In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product manufacturers (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.
The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end users (product buyers), and related key executives from various key companies and organizations operating in the global market.
The study objectives of this report are:
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