Global Agricultural Compact Tractor Market 2023-2030

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    GLOBAL AGRICULTURAL COMPACT TRACTOR MARKET

     

    KEY FINDINGS

     

    1. Mahindra, John Deere, New Holland, and Kubota are today’s leading producers in the agricultural compact tractor category.
    2. Mahindra is the market leader in selling compact tractors worldwide, over ~85% of tractors in their fleet are <60 HP tractors.
    3. In China about ~180,000 units of agricultural compact tractors were sold in 2020.
    4. Sales in India closed at 802,670 units in 2020, 11 % higher than 2019 volumes and ~80% of which were compact tractors.
    5. Total farm tractor unit sales are up more than 50 percent in the U.S., and nearly 60 percent in Canada, according to the AEM in the first half of 2021.
    6. In the U.S, the sub-40 horsepower segment is still up a strong 26% year-to-date according to Association of Equipment Manufacturers which is slightly ahead of the overall farm tractor market, and, over and above already-strong 2020 sales gains.

     

     

    INTRODUCTION

    Agricultural development depends largely on technological innovation and its successful transfer. Both are influenced by factor prices, factor scarcity, and incentives. Modernized agriculture can contribute substantially to economic growth; the question is what forms of capital investment are most appropriate.

     

     

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    Tractors and field machinery are tools of agricultural production.  These equipment increase the productivity of the producer, improve the quality of product and reduce the hazards of operations.

     

    AGRICULTURAL COMPACT TRACTOR MARKET SEGMENTATION

     

    By Power Output

    1. <20 HP
    2. 21 – 40 HP
    3. 41 – 60 HP

     

     

    By Region

    1. U.S
    2. Europe
    3. China
    4. India
    5. Rest of the World

     

    AGRICULTURAL COMPACT TRACTOR  MARKET DYNAMICS

    Currently, Industry is trending with integration of Light-weight materials, fuel sipping engines, hybridization, advanced energy storage capabilities and the use of global positioning systems and telematics developed to make the most of expensive equipment are increasingly found in compact tractors that help equipment owners reduce fuel use to control costs but also conserve energy resources and reduce greenhouse gas emissions, and, more importantly, improve air quality for everyone. 

     

    The widespread electrification of farm tractors and machinery would have little impact on agriculture’s global carbon emissions. The level of emissions from farming machinery is tiny by comparison, so trying to reduce the emissions produced by agricultural machinery will be helpful, as they won’t have a significant impact on total emissions from the sector.

     

    The larger manufacturers offer two or more lines of subcompact and compact tractors with several models in each line. With small frame and large frame tractors within each model line with two or three horsepower sizes within each frame size. The result can be a bewildering array of models from which to choose. Some will be tempted to select the least expensive tractor; on the other hand, some people may be tempted to buy the biggest, most powerful tractor. For most customers, they need to decide what specifications and features you really need based on the way you intend to use the tractor.

     

    Researchers are now looking towards the realization of autonomous agricultural vehicles. The first stage of development, automatic vehicle guidance, the robotics industry has developed a wide range of remarkable robots. In the near future, farmers will be using affordable, dependable autonomous vehicles in compact segments.

     

    POPULAR AGRICULTURAL COMPACT TRACTOR MODELS, BY REGION

     

    1. INDIA

     

    SL No Models
    1 Mahindra 475 DI
    2 Mahindra YUVO 575 DI
    3 Escorts Farmtrac 45 Classic
    4 Sonalika DI 42
    5 TAFE MF 7250 DI

     

    1. CHINA

     

    SL No Models
    1 YTO ME504
    2 Lovol 504-E
    3 DONG FENG 504-16
    4 YTO SK504
    5 YTO MF504

     

     

    INNOVATION TRENDS

     

    New Holland’s T6.160 Dynamic Command delivers all the benefits of the exclusive Dual Clutch technology and delivers a full drive without loss of torque during the gear change at the lowest fuel consumption rate; the model features the exclusive 24×24 Dynamic Command transmission developed in-house by New Holland. The innovative design, with 8-step push-button gear changes using Dual Clutch technology and three push-button robotized range changes, ensures that the best gear for the application is always engaged. The result is high productivity with low operator fatigue.

     

    The first production unit of the T6 Methane Power tractor, a cornerstone of New Holland’s Energy Independent Farm concept, was presented at the Agritechnica show in 2019 and now targets full commercial availability in 2021. Field trials are in the final stages and by the first half of the year production units will be delivered to selected customers.

     

    Sonalika launches the ‘Tiger Electric’ powered by a IP67 compliant 25.5 kW natural cooling compact battery with 1/4th running costs against the traditionally used diesel. The innovative, high quality battery of Tiger Electric tractor can be fully charged with a regular home charging point in 10 hours, which reduces the effort of frequent travelling to petrol pumps for refuel.

     

    Monarch Tractor announced the world’s first fully electric, driver optional, smart tractor integrated on a single platform and the company addresses these issues by combining electrification, automation, machine learning, and data analysis to enhance farmer’s existing operations, increase labor productivity and safety, and maximize yields to cut overhead costs and emissions.

     

    Kubota has unveiled a prototype of Electric autonomous tractor In Japan, 100% electric power by combination of lithium-ion batteries and solar batteries and capable of performing complete unmanned operation by AI.

     

     

    ENGINE SPECS OF AGRICULTURAL COMPACT TRACTORS, BY REGION

     

    Regions Power Displacement Torque
    U.S 15 – 60HP 0.9-2.4L 47-180Nm
    Europe 150 – 691HP 1.5-2.4L 50-180Nm
    India 15 – 57HP 1-3.7L 73-180 Nm

     

     

    AGRICULTURAL COMPACT TRACTOR MARKET SIZE AND FORECAST

     

    The Global Agricultural Compact Tractor Market accounted for $XX Billion in 2022 and is anticipated to reach $XX Billion by 2030, registering a CAGR of XX% from 2023 to 2030.

     

    RECENT DEVELOPMENT AND INNOVATION

    S No Company Name Development
    1 VST Tillers Tractors A new line of small tractors is introduced by VST Tillers Tractors. A producer of farm equipment called VST Tillers Tractors has introduced six new models in its series 9 range of small tractors.
    2 Swaraj Tractors ‘Swaraj Target’ is a new lineup of compact, lightweight tractors from Swaraj Tractors. Through an exchange filing, Swaraj Tractors announced the debut of their “Swaraj Target” line of compact, light-weight tractors. 

    Due to its unrivaled performance, best-in-class features, and cutting-edge technology, the new Swaraj series is anticipated to establish a new standard in the Compact LightWeight tractor market.

     

    VST Tillers Tractors has introduced the series 9 line of small tractors, starting at 18 HP, intends to solidify its dominance in the nation’s 4WD compact tractor category. Its Hosur factory is where this new generation of tractors is created and built.

     

    The six new versions vary in horsepower from 18HP to 36HP. The firm claims that the series 9 by VST is the most cutting-edge compact range with global design and technical integration to handle the expanding demands of agricultural mechanization in orchards, horticulture, conventional agriculture crops, and non-agriculture domains.

     

    The dedication to farm mechanization of various crops and improving the lives of Indian farmers is shown in the introduction of the new series of tractors. The series range will be the most cutting-edge and adaptable tractor offering in its class as the Indian agricultural community embraces newer, more effective technology.

     

    An elevated platform, a luxury appearance, projector headlights, a heat shield, a new generation instrument cluster, a deluxe seat, and a small turning radius are some of the ergonomic features of the new tractor. 

     

    These adaptable tractors are useful for a variety of tasks and may be used with a variety of implements, including tillers, rotavators, MB ploughs, ridgers, duck foot cultivators, sprayers, loaders, haulers, threshers, and gensets.

     

    The name “Swaraj Target” represents the thoughtful design of the new tractor line, which is intended to meet the specific demands of Indian farmers and help them embrace specialized mechanization solutions in order to meet their agricultural production objectives.

     

    The new range seamlessly combines power and advanced technology features, providing exceptional efficiency in spraying, intercultural operations, and a variety of other applications. It was created specifically for progressive and aspirational farmers who are eager to embrace the latest agricultural practices and technology.

     

    The new range, which uses cutting-edge technology, enhances operator comfort with special technological features like a synchromesh gear box for seamless gear shifts that feel like they are happening in a car, while also allowing the operator to operate multiple implements with the touch of a button.

     

    Farmers can easily maneuver in confined locations because of its smallest track width and small turning radius, which considerably boosts production and reduces crop damage.Under the Swaraj Target line, Swaraj Tractors will initially introduce two models in the 20–30 HP category. 

     

    COMPETITIVE LANDSCAPE

     

    New Holland Agriculture extends its all-purpose T6 tractor range with a new 6-cylinder model, the T6.160 Dynamic Command. This unique tractor combines the high performance of the proven NEF 6-cylinder engine with New Holland’s exclusive Dual Clutch and CVT technology to deliver high efficiency and productivity. This comes in a compact package with a 2.6-m wheelbase and 10.5 tonnes Gross Vehicle Weight (GVW).

     

    Case IH introduced new Quadtrac and Steiger AFS Connect series tractors for the 2021 season with specific features for the European market, and incorporating new technology designed to ease the data recording and transfer requirements central to modern large-scale farming.

     

    AGCO Corporation will bring the fourth generation of Fendt 300 Vario tractors to North American producers for delivery in early 2022. The 300 Vario tractors are light yet powerful, offering the features and superior quality of larger Fendt tractors in a range perfect for hay and livestock production, field work and general farm use.

     

    John Deere announced the launch of its Mechanical Self-Leveling Loader (MSL) option for small tractors. Designed to keep loads level throughout the lift, the new loaders are compatible with John Deere 1E, 1R, 2R and 3E compact utility tractors.

     

    John Deere launched the new John Deere 4M Heavy-Duty Tractor. Designed with commercial customers and large property owners in mind, the new 4M Heavy-Duty delivers all the performance customers demand from their utility tractor in a compact, easy-to-use package.

     

    Valtra is expanding its A Series with the introduction of new smaller models. These agile three-cylinder tractors are ideal as general purpose farm tractors, as well as for fruit farming and property maintenance

     

    Case IH is launching enhancements to its Puma series tractor lineup to provide operators with greater efficiency, convenience and operational flexibility. These updates include longer service intervals and new styling features for greater productivity and a more comfortable in-cab experience.

     

    For model year 2022, John Deere has added new technology and transmission options to its line of 5M Series tractors. In addition, a new 125-hp tractor has been introduced to the lineup to provide more horsepower options. These added capabilities and features will appeal to hay, livestock, and commercial customers, along with anyone doing work on a large property.

     

     

    Sl no Topic
    1 Market Segmentation
    2 Scope of the report
    3 Abbreviations
    4 Research Methodology
    5 Executive Summary
    6 Introduction
    7 Insights from Industry stakeholders
    8 Cost breakdown of Product by sub-components and average profit margin
    9 Disruptive innovation in the Industry
    10 Technology trends in the Industry
    11 Consumer trends in the industry
    12 Recent Production Milestones
    13 Component Manufacturing in US, EU and China
    14 COVID-19 impact on overall market
    15 COVID-19 impact on Production of components
    16 COVID-19 impact on Point of sale
    17 Market Segmentation, Dynamics and Forecast by Geography, 2023-2030
    18 Market Segmentation, Dynamics and Forecast by Product Type, 2023-2030
    19 Market Segmentation, Dynamics and Forecast by Application, 2023-2030
    20 Market Segmentation, Dynamics and Forecast by End use, 2023-2030
    21 Product installation rate by OEM, 2023
    22 Incline/Decline in Average B-2-B selling price in past 5 years
    23 Competition from substitute products
    24 Gross margin and average profitability of suppliers
    25 New product development in past 12 months
    26 M&A in past 12 months
    27 Growth strategy of leading players
    28 Market share of vendors, 2023
    29 Company Profiles
    30 Unmet needs and opportunity for new suppliers
    31 Conclusion
    32 Appendix
       
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