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South America Agriculture Tractors is Forecasted to Grow at a CAGR of 5.4% During the Forecast Period, 2019-2024 - ResearchAndMarkets.com

January 23, 2020 GMT

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

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

The agriculture tractor market was worth USD 7.5 billion in 2018 and is forecasted to grow at a CAGR of 5.4% during 2019-2024.

The South America region is an important region for global agricultural commodity production, accounting for 14% of total global food and agriculture exports and 4% of total food and agriculture imports. The region is expected to play a pivotal role in global food production and exports in the future considering the vast expanse of unexploited agricultural land. Nevertheless, the region is focused on raising agriculture productivity to meet domestic food demand in a sustainable manner and develop export competitiveness. To achieve these goals, the Governments in the region are opting for innovation and technology in agriculture.

This has brought the focus of the region towards agricultural mechanization. The push from the Government for mechanization has created a very strong condition for the growth of the agriculture tractor market.

Drivers

The push for agricultural mechanization for the overall development of the agriculture sector is a major demand driving factor agriculture tractors in South America. The aim to boost agriculture productivity is another major factor pushing for the use of agriculture tractors in the region. Urbanization, decreasing agricultural population leading to labor shortages, coupled with increasing demand for agriculture products for domestic consumption and exports have triggered the demand for agricultural machinery market in the region.

Restraints

However, the low penetration of mechanization in the region, concentrated demand for machinery in few countries, and use of tractors being restricted to large scale production systems like sugar, soybean, and corn are restricting the expansion of the market. Also, small producers may not have the money or access to credit to invest in machinery and tractors, thus restricting the growth of the market. Governments throughout the region have recognized these constraints and instituted programs to help increase small farmers’ access to financing. Other obstacles include lower prices and price volatility of agricultural commodities as a disincentive to invest in mechanization; political instability observed in some countries, and the existence of certain regulatory framework that inhibits the adoption of mechanization.

Opportunity

Tractors meant for small and hilly plots are the opportunity segment in the region.

Brazil-The Dominant market in the region

Application of tractors in the agriculture industry has brought a vital change in the agricultural mechanization in leading countries including Brazil, Argentina, and Colombia. Brazil is the largest market for agriculture tractors in the region followed by Argentina. Experts believe that with expanding production of row crops and horticultural crops in South America, the usage of tractors is expected to grow at a very rapid pace as it provides the possibility of covering larger farm area within short time periods.

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

3.2 Restraints

3.3 Opportunities

3.4 Porter’s Five Forces Analysis

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 South America

5.1.1 Brazil

5.1.2 Argentina

5.1.3 Colombia

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/xjwhw3

View source version on businesswire.com:https://www.businesswire.com/news/home/20200123005398/en/

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KEYWORD: SOUTH AMERICA

INDUSTRY KEYWORD: OFF-ROAD TRUCKS & SUVS AGRICULTURE NATURAL RESOURCES AUTOMOTIVE

SOURCE: Research and Markets

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PUB: 01/23/2020 07:47 AM/DISC: 01/23/2020 07:47 AM

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