AP NEWS
Press release content from Business Wire. The AP news staff was not involved in its creation.
PRESS RELEASE: Paid content from Business Wire
Press release content from Business Wire. The AP news staff was not involved in its creation.

North America Agriculture Tractors Market Forecasted to Grow at the CAGR of 5.6% During the Forecast Period, 2019-2024 - ResearchAndMarkets.com

January 23, 2020 GMT

DUBLIN--(BUSINESS WIRE)--Jan 23, 2020--

The “North America Agriculture Tractors Market-Size, Trends, Competitive Analysis and Forecasts (2019-2024)” report has been added to ResearchAndMarkets.com’s offering.

North America is the matured market for tractors and is forecasted to grow at a CAGR of 5.6% during 2019-2024. Driverless tractors are the opportunity segment in North America.

Agriculture in North America is mechanized and heavily dependent upon an integrated system of supporting agribusinesses. In the United States and Canada, most farmers and ranchers depend heavily upon technology. The introduction of new technologies has resulted in an increase in both farm size and agricultural output, a decrease in the demand for farm labor, making agriculture more profitable for the farmers. The Governments, especially in Mexico are providing subsidies to buy tractors and farm equipment to promote mechanization. This along with low-interest rates on tractor finance is expected to push the sales of the tractor.

The U.S. accounts for major market share in North America. The country is the origin of most of the technological advancements in the tractor industry in the region. Due to the reduced farm labor supply and drive for greater productivity the use of tractors in Canada has been continuously increasing. The agricultural economy in Mexico is large and modernizing rapidly. Mexico currently employs around 15% of the workforce for agriculture, however, the number has been rapidly declining since the last decade. The push from Government for mechanization to increase farm output indicates a strong potential for tractors market. Mexico is the major exports market of tractors and its parts for the U.S.

Key Deliverables

Key Topics Covered:

1. Introduction

1.1 Research Methodology

1.2 Scope of the Study

1.3 Assumptions

2. Summary

2.1 Market Summary By Type

2.2 Market Summary by Geography

3. Industry Dynamics

3.1 Drivers

3.1.1 Growing access to subsidies and credits for Farm Machinery in Asia

3.1.2 Push for agriculture mechanization from policy makers

3.1.3 Focus to increase cropping intensity

3.1.4 Dwindling agriculture laborers due to Urbanization

3.2 Restraints

3.2.1 Diminishing area under agriculture

3.2.2 Increased number of fragmented landholding in Asia

3.2.2 Consolidating farmland under contract farming & co-operatives

3.3 Opportunities

3.3.1 Growing emphasis on Precision farming

3.3.2 Hill Agriculture

3.3.3 Gender friendly tools and Equipment

3.3.4 Crop Specific Package of machines

3.4 Porter’s Five Forces Analysis

3.4.1 Bargaining power of Suppliers

3.4.2 Bargaining power of Buyers

3.4.3 Degree of Competition

3.4.4 Threat of Substitution

3.4.5 Threat of new entrants

3.5 Future Trends in the Industry

3.6 Value Chain Analysis

3.7 Industry Policies & Regulations

3.8 Market Innovations

4. Market Size and Forecast

4.1 Market Share, By Types

4.1.1 Utility Tractors

4.1.2 Row crop tractors

4.1.3 Garden Tractor

4.1.4 Orchard Tractor

4.1.4 Rotary Tillers

4.1.5 Others

4.2 Market Share, By Horse Power

4.2.1 Below 40 HP

4.2.2 40 HP-100 HP

4.2.3 Above 100 HP

4.3 Market Share, By Wheel Type

4.3.1 Two Wheel

4.3.2 Four Wheel

5. Country Market Share

5.1 North America

5.1.1 U.S.

5.1.2 Canada

5.1.3 Mexico

5.1.4 Others

6. Competitive Analysis

6.1 Market Share Analysis

6.2 Growth Strategies of leading players

6.3 Investment and Development Prospects

6.3.1 Investment in past five years

6.3.2 Investment Opportunities

6.4 Competition Pattern

6.4.1 Concentration Ratio

6.4.2 Industry Competition

6.5 Price Trend Analysis

6.5.1 Product Classifications and Their Prices

6.5.2 Factors Influencing Prices

7. Company Profiles

7.1 AGCO Corp.

7.2 Claas KGaA mbH

7.3 CNH Industrial N.V

7.4 Deere and Company

7.5 Deutz-Fahr

7.6 Escorts Limited

7.7 Kubota Corporation

7.8 Kuhn Group

7.9 Mahindra & Mahindra Ltd.

7.10 Tractors and Farm Equipment Ltd.

7.11 Yanmar Company Limited

For more information about this report visit https://www.researchandmarkets.com/r/qj5n1m

View source version on businesswire.com:https://www.businesswire.com/news/home/20200123005285/en/

CONTACT: ResearchAndMarkets.com

Laura Wood, Senior Press Manager

press@researchandmarkets.com

For E.S.T Office Hours Call 1-917-300-0470

For U.S./CAN Toll Free Call 1-800-526-8630

For GMT Office Hours Call +353-1-416-8900

KEYWORD: NORTH AMERICA

INDUSTRY KEYWORD: AGRICULTURE NATURAL RESOURCES

SOURCE: Research and Markets

Copyright Business Wire 2020.

PUB: 01/23/2020 03:47 AM/DISC: 01/23/2020 03:47 AM

http://www.businesswire.com/news/home/20200123005285/en