New York, NY, April 05, 2018 (GLOBE NEWSWIRE) -- Zion Market Research has published a new report titled “Forestry and Agricultural Tractor Sales Market by Drive Type (4-Wheel Drive and 2-Wheel Drive); By Power (Below 10 kW, 10-30 kW, 30-50 kW, and Above 50 kW); and By Application (Forestry and Agricultural) – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2017 – 2025”. According to the report, global forestry and agricultural tractor sales market was valued more than USD 77 billion in the year 2016 and it is expected to reach more than USD 100 billion by 2025. The global forestry and agricultural tractor sales market is expected to exhibit a CAGR of around 4% between 2017 and 2025. In 2016, more than 2 million units of forestry and agricultural tractors were sold across the globe.
In the year 2016, the global forestry and agricultural tractor sales (FATS) market were valued at more than USD 77 billion in the year 2016 and it is expected to reach more than USD 100 billion by 2025. The global forestry and agricultural tractor sales market is expected to exhibit a CAGR of around 4% between 2017 and 2025. In terms of volume, more than 2,000,000 units of tractors were sold for forestry and agricultural applications in the year 2016 across the globe.
Browse through 25 Tables & 29 Figures spread over 110 Pages and in-depth TOC on "Global Forestry And Agricultural Tractor Sales Market Analysis and Forecast 2017 – 2025”.
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Market Report Highlights:
- The scarcity of arable land coupled with rising necessity to increase output has compelled mechanization of agricultural activities. This is expected to boost the demand for tractors across the globe during the forecast period.
- Increasing farm cash receipts (revenues and profits generated from agricultural activities) would further boost the demand for tractors.
- The lower interest rate on loans for farmers has further facilitated the adoption of tractors.
- Emerging economies in Asia are expected to experience a significant market growth owing to increasing awareness regarding advantages of tractors.
- Even developed economies such as North America and Europe are expected to witness significant growth in forestry and agricultural tractor sales market.
- Tractors could assist in plowing, tilling, disking, harrowing, and planting among others which could save cost and time of farmers.
- Tractors also aid in timber removal, chipping, and forest harvesting among others activities on forest land.
- Different types of tools and machinery such as tedders, balers, seed drills, field chopper, field sprayers, combine harvester, compost turner, beet or potato harvesters, sugarcane harvester, chippers, feller bunchers, forwarders, and skidders, among others, could be attached to tractors.
- 4-wheel drive type tractor held major share since it provides various advantages such as the better power to weight ratio which results in extra power and lower fuel consumption.
- Tractors having above 50 kW power range dominated the global forestry and agricultural tractor sales market since high powered tractors are preferable in uneven and steep land surfaces to offer better pulling and pushing power coupled with good traction and torque.
- Agriculture application dominated the global market owing to numerous uses of tractors in the agriculture industry.
- Asia held the dominant position in the global forestry and agricultural tractor sales market with more than 50% share in 2016.
- Asia and Europe together constitute for more than 70% share of the global forestry and agricultural tractor sales market.
- Increasing use of automation and remote operated machinery in agriculture and forest activities could invalidate the need of tractors thus limiting the market growth.
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According to the analysts and insights shared by industry experts during primary research, rising need to maximize agricultural output owing to shrinking share of arable land is expected to boost the sales of tractors across the globe. Similarly, increasing trend of mechanization of agricultural and forest activities is expected to increase adoption of tractors during the forecast period.
In the drive type segment, 4-wheel drive type held major market share. 4-wheel drive tractors provide various advantages such as the better power to weight ratio which results in extra power and lower fuel consumption. This type of tractor pulls well, especially on steep surfaces. This type of tractor offers better ballast characteristics to all the tires thus reduces slippage. As the surface is usually uneven or muddy in farms and forests, this 4-wheel drive type of tractor provides better traction and overall performance than other types of tractors.
Browse the full " Forestry And Agricultural Tractor Sales Market by Drive Type (4-Wheel Drive and 2-Wheel Drive); By Power (Below 10 kW, 10-30 kW, 30-50 kW, and Above 50 kW); and By Application (Forestry and Agricultural) – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2017 – 2025" report at https://www.zionmarketresearch.com/report/forestry-and-agricultural-tractor-sales-market
Tractors are available for forestry and agricultural purposes in abundant power ranges and choices. Among them, above 50 kW power range is dominating the market. As farmers strive to complete their farm operations in lesser time, the adoption of higher power tractors has increased. To finish work rapidly on a vast piece of land, a bigger sized tractor is required to accommodate bigger equipment and tools for the same. As the size and weight of tractor increases, so does the power required to pull the tractor. Similarly, in forest lands, larger tractors with higher power are preferred to carry out tedious jobs in a swift manner. Moreover, high powered tractors are preferable in uneven and steep land surfaces of forest land to offer better pulling power and traction. Thus, the demand for above 50 kW power range tractors has been increasing across the globe. In 2016, around 1,500 units of above 50 kW power range of tractors were sold across the globe.
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The market is progressing at a rapid pace in the developing as well as developed regions. Currently, the major share for the forestry and agricultural tractor sales market is contributed by Asia. Asia dominates the global market which is followed by Europe. Increasing agricultural activities, rising income levels, increasing labor costs, and need for enhanced crop output has boosted the demand for tractors in this region. Countries such as China and India are leading players in the region and hold a major share of Asia forestry and agricultural tractor sales market. Countries such as the U.S. and Mexico are expected to witness a leading CAGR of more than 5% during the forecast period.
The major players in the global forestry and agricultural tractor sales market are Deere & Company, CNH Industrial, Kubota, Mahindra, Kioti, AGCO Corporation, Claas, BCS America, J C Bamford Excavators Ltd., SDF, Tractors and Farm Equipment Limited, V.S.T Tillers Tractors Ltd., ZETOR TRACTORS a.s., First Tractor Co. Ltd. (YTO), Indo Farm Equipment Limited, Lovol Heavy Industry Co., Ltd., Shandong Shifeng (Group) Co., Ltd., Sonalika International Tractors Ltd., Zoomlion Heavy Industry Science & Technology Co., Ltd., Changzhou Dongfeng Agricultural Machinery Group Corp., Ltd., Shandong Wuzheng Group Co. Ltd., Jiangsu Yueda Intelligent Agricultural Equipment Co., Ltd., and Force Motors Ltd., among others.
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The global forestry and agricultural tractor sales market is segmented on the basis of drive type, power, application, and the geographical regions.
Global Forestry and Agricultural Tractor Sales Market: Drive Type Segment Analysis
- 4-Wheel Drive
- 2-Wheel Drive
Global Forestry and Agricultural Tractor Sales Market: Power Segment Analysis
- Below 10 kW
- 10 – 30 kW
- 30 – 50 kW
- Above 50 kW
Global Forestry and Agricultural Tractor Sales Market: Application Segment Analysis
- Forestry
- Agricultural
Global Forestry and Agricultural Tractor Sales Market: Regional Segment Analysis
- North America
- The U.S.
- Europe
- UK
- France
- Germany
- Asia Pacific
- China
- Japan
- India
- Latin America
- Brazil
- The Middle East and Africa
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