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- The tractor market size Europe is estimated at $3.6-$4 Billion annually.
- As of August 2019,there are ~12-12.5 Million farmers in Europe and ~60% of them are 55+ years of age.
- The tractor market in Europe is very different than the top 2 biggest tractor markets globally – India and China. Both Indian and Chinese markets are dominated by low power<40hp tractors whereas >50hp tractors are more popular in the European market.
- The market size of tractor market in Europe is estimated at 160,000-180,000 units per annum. Germany, France, Italy and UK make up for roughly 50% of the new tractors sold annually. About 80% of them are used in agricultural applications and the rest in other off-highway applications
- Growth in intelligent and connected tractors is the biggest trend in tractor market in Europe. Trials are on to allow tractor to car communication to improve safety.
- There are 17 tractor manufacturers in Europe, but 5 of them including John Deere, Massey Ferguson, AGCO have more than 60% market share cumulatively.
- Tractors with an EU27-issued whole vehicle type-approval will require a provisional UK whole vehicle type-approval to be sold in the UK market. This provision will expire by March 2021
- Growing international competition and lower farm productivity could reduce exports of agri-food products and is a major cause of concern for Tractor market in Europe
- In Europe, across all agricultural machines, new drive systems are being used to power electrically-driven implements, to improve fuel efficiency
- A rough Brexit could disrupt European markets for key products like dairy, meat and sugar seat and poses a major risk to the market
KEY CONTENTS OF THE REPORT INCLUDE-
- Market Size and Forecast by (Volume and Value)
- By Country- UK, Germany, France, Italy, Spain and Eastern Europe
- By Application- Sprayer, Rice Transplanter, Combine harvester, Corn Combiner
- By Power output (HP) – <50, 50-100, >100
- Opportunities for component and sub-component manufacturers
- Most important farming trends which could affect the design and technologies of tractors sold in Europe
- Impact of Brexit on agricultural raw material suppliers and produced exports
- Market Dynamics (Opportunities, Trends, Drivers, and Challenges) by each segment
- Market share and competitive landscape of Farm Tractor market in Europe
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