Global Tractor Engine Market 2023-2030

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    GLOBAL TRACTOR ENGINE MARKET

     

    KEY FINDINGS

    • Standard and articulated tractors across the globe continue to get an increase in power as the implements become wider, larger, and heavier and continued demand is expected to further increase the working speed.
    • OEMs are losing interest in Dual fuel-powered tractors (CNG & Diesel) with the focus now shifting towards hybrid models.
    • At least 10 out of 35+ tractor manufacturers globally have plans to introduce electric/hybrid tractors by 2023.
    • European agricultural equipment industry sales volumes for the year 2020 were down in all segments, however, the market started recovering by the second half of the year.
    • In North America with the COVID-19 impact, the industry required some flexibility for machines to be fitted with transition engines already manufactured and procured before the crisis.
    • From the past four decades, the tractor industry in India has been growing at a compound annual growth rate (CAGR) of 10%.

     

    INTRODUCTION

    Agriculture mainly depends upon farm mechanization and farmers. Penetration of tractors is imperative. The tractor is a means of production, cultivation, transport, construction, electricity generation, and is also used for non-agricultural purposes.

     

    In addition to agricultural, social and economic growth drivers of mechanization, macroeconomic and intrinsic factors.

     

    Growing population and demand, urbanization, surge in tractor exports, improved flow of engine technologies is also necessitating the adoption of mechanized solutions.

     

    TRACTOR ENGINE MARKET DYNAMICS

    India, China and US are the top 3 tractor markets globally, accounting for ~60% share of global tractor sales. The European farm tractor market retails about 180,000-200,000 units annually.

     

    In US, after tier- 4 emission standards phased out in 2015, cooled EGR, DPF and DOC became a standard fitment, Now the replacement market for SCR and DPF cleaning has become bigger.

     

    European Institutions rightly amended the most urgent aspects of Stage V Regulation and extended deadlines for the production and placing on the market of NRMM and tractors fitted with transition engines <56 kW and ≥130 kW by 12 months till December 31, 2020.

     

    In 2020, due to the disruption of the supply chain, the production schedule of the tractor facilities was not able to return to regular production. Orders received from the domestic market were far more satisfactory than in 2019, which has been a rather bad year. Moreover, the market demand is ahead of supply in many tractor models for now.

     

    It remains to be seen if tractor registrations will confirm this return to pre-COVID levels for the second half of the year and if the lost business for the first half will be even partly recovered.

     

    New SA Series Utility Tractors are released by Yanmar. The SA line of versatile compact tractors from Yanmar America Corporation has been updated. Yanmar has made major performance improvements to this tough and dependable tractor model based on feedback from its owners.

     

    The SA series of tractors are made for people who share their love of the outdoors and adhere to the principle of treating the land with respect. They have increased comfort and efficiency with this makeover of the SA series so that clients may do more on their land. Beginning in June, the US market began selling the brand-new SA series. 

     

    The brand-new SA series guarantees precise control with an exceptional blend of strength and effectiveness. All-new SA223 models from Yanmar have a net power of 19.4 HP, SA325 models have a net power of 21.7 HP, and SA425 models have a net power of 21.7 HP. All models include Yanmar’s 10 year/3000 hour limited powertrain warranty and are assembled in Yanmar’s cutting-edge Adairsville factory in the United States.

     

    With dual range speeds, differential lock as standard, and True Position Control on the 3-point hitch, the SA223 provides exceptional performance in a small tractor.Dual rear remote valves and a 12V outlet are standard on the SA325 and SA425 to make it easier to use a variety of tools and accessories, including those that use hydraulic power.

     

    An effective and clean diesel engine The SA series is powered by Yanmar’s own strong and dependable, 3-cylinder, liquid-cooled, clean diesel engine. Yanmar designs and manufactures all of its engines with Japanese engineering and quality. These tried-and-true workhorses provide lightweight, long-lasting power with low fuel consumption, clean emissions, and minimal noise and vibration.

     

    TRACTOR ENGINE MARKET SIZE AND FORECAST 

    The global tractor engine market is estimated at $XX Billion in 2022 and growing at XX% CAGR till 2028. In Europe and North America, Variable geometry turbo-equipped engines have been growing in volume. Compact emission treatment units including selective catalyst reduction, diesel particulate filter and diesel oxidation catalyst are also gaining prominence.

     

    In terms of engine specs, the tractors in Asia are vastly different from their European and American counterparts. Markets of India and China are dominated by low-power output tractors(<40hp) whereas the US and European markets are dominated by >50hp tractors.

     

     

    TRACTOR SALES IN IN INDIA(WORLD`S BIGGEST TRACTOR MARKET)

    Tractor sales in India in past four years have grown by 12% CAGR but in FY 2019 the industry will de grow

     

     

    RECENT DEVELOPMENT

     

    S.NO Overview of Development  Details  of  Development
    1.

    M&M to roll out new lightweight platform for Swaraj Tractors

    The unveiling of a new platform for their line of lightweight Swaraj tractor models was announced by Mahindra & Mahindra (M&M). This platform, which has fresh look and other functionality, will support tractors with 25 horsepower and 29 horsepower engine. This is a brand-new segment for Swaraj that will feature goods for specialized spraying and cross-cultural application. 
    2.

    Solis Yanmar Launches YM3 Series Tractors In India

    International Tractors, a renowned tractor manufacturer, has announced the release of its new YM3 tractor series, which will be sold under the Solis Yanmar brand.
    3.

    John Deere Introduces a Fully Autonomous Tractor 

    A completely automated tractor that is prepared for industrial manufacturing was unveiled by John Deere. The device combines the 8R tractor from Deere, a chisel plow with TruSet functionality, a GPS guidance system, and new, cutting-edge technologies.

     

    The two new tractors of Solis Yanmar , the YM 342A and YM 348A, are calibrated to provide improved production and performance, according to a press statement from the business. The new YM3 series was created using Yanmar’s 110-year-old expertise in diesel engines and is completely customized to meet the needs of Indian farmers and the environment there. The tractors are equipped with fully synchromesh gear, a push-button PTO, and maximum weight to meet the needs of farmers who use them for farming and other specialized applications. 

    For the comfort of farmers, the Yanmar YM3 series has an aerodynamic hornet design, a 4-way adjustable seat, and power steering. In combination with balancer shafts, the 4-cylinder engine’s Mono Plunger FIP and feather-touch 8F+8R shuttle shift transmission deliver exceptional performance by eliminating noise and vibration.

    The Yanmar Supernova engine was used in the tractors to create an ideal design. For extended, fatigue-free working hours during a variety of operations, the engineers ensured that the YM series tractors delivered zero noise and zero vibration. To meet the unique needs of farmers, Solis Yanmar will keep introducing new tractor models. 

    The John Deere autonomous tractor’s primary function is to feed people worldwide. Additionally, farmers must deal with the inherent uncertainties of farming, such as shifting weather and climate, variations in soil quality, and the presence of weeds and pests, as well as

     

    COMPETITIVE LANDSCAPE

    New Holland is investing in new products by expanding its machinery solutions. They also highlighted some of the new products which are planned to hit the market in the first half of 2021.

     

    Methane-Powered Tractor will be delivered to select customers in Europe before entering the product range later in the year. Companies are widely acknowledging the most effective and fuel-efficient methods of meeting present and future EPA emissions requirements.

     

    The technology has already been proven in Europe and by introducing it early, customers will have the opportunity to reduce their fuel use and improve their overall productivity. It also gives the number of farm equipment makers a head start on the competition.

     

    The partnerships will be formed to test a new bio-methane tractor prototype as well as electrification of implements for vineyards and orchards.

     

    The AGCO’s tractor is powered by a methane-fuelled engine developed with sister brand FPT Industrial which provides diesel-like performance. The use of methane helps to reduce emissions; the engine also offers noise reductions and lower operating costs.

     

    THIS REPORT WILL ANSWER THE FOLLOWING QUESTIONS

    1. Opportunity for tractor engine sub-component suppliers, by region, by OEM, 2023-2028
    2. Sales breakdown of global tractor sales by engine type, output, and model
    3. Upcoming tractor models, by powertrain
    4. Revenue growth and strategic analysis of tractor engine manufacturers globally
    5. Opportunities in the tractor engine after-treatment market
    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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