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COMING SOON
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.
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.
The global tractor engine market is estimated at $XX Billion in 2020 and growing at XX% CAGR till 2025.
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.
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.