The Latin America, Middle East and Africa Agricultural Tractors Market would witness market growth of 5.6% CAGR during the forecast period (2021-2027).
Increased earnings in urban regions, a higher standard of living in urban areas in comparison to rural areas, and limited access to labor are all factors that drive population movement, resulting in a labor shortage in the agriculture sector. In addition, mechanization and automation are becoming more popular as a means of increasing agriculture effectiveness and efficiency while also addressing labor shortages. Due to enhanced and sophisticated automation in the agriculture industry, demand for agricultural tractors is rapidly increasing. The rise of the agriculture business has resulted in a rise in demand for equipment used in farming applications.
The regional market is witnessing the governments' increased support for its development. For example, the Ghanaian government offers subsidized tractors to entrepreneurs who operate 89 tractor rental and service stations. Tractor sales climbed by 10.4 percent in 2018 compared to 2017, according to the South African Agricultural Machinery Association. Tractor sales reached 3,930 units in July 2018, compared to 3,557 units in July 2017.
Agriculture is extremely important to Africa's economic development. However, the industry is not performing to its full potential. Despite the fact that agriculture provides a living for about 60% of Africa's people, the sector's contribution to GDP in 2016 was a meager 21%. Africa has the world's largest uncultivated arable land area, with about 202 million hectares in 2016. As a result, its production falls well behind that of other developing regions. Moreover, crop yields are only 56 percent of the international average.
The Brazil market dominated the LAMEA Agricultural Tractors Market by Country 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $2,117.8 million by 2027. The Argentina market is anticipated to grow at a CAGR of 6.1% during (2021 - 2027). Additionally, The UAE market would showcase a CAGR of 5.2% during (2021 - 2027).
Based on Driveline Type, the market is segmented into Two-wheel Drive, and Four-wheel Drive. Based on Engine Power, the market is segmented into Less than 40 HP, 41 to 100 HP, and More than 100 HP. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
Free Valuable Insights: The Global Agricultural Tractors Market is Predict to reach $81.4 Billion by 2027, at a CAGR of 4.2%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include AGCO Corporation, CNH Industrial N.V., Deere & Company, CLAAS KGaA mbH, Escorts Ltd., International Tractors Ltd., Yanmar Co., Ltd., Kubota Corp., Mahindra & Mahindra Ltd., and Tractors and Farm Equipment Ltd.
Scope of the Study
Market Segments Covered in the Report:
By Driveline Type
- Two-wheel Drive
- Four-wheel Drive
By Engine Power
- Less than 40 HP
- 41 to 100 HP
- More than 100 HP
By Country
- Brazil
- Argentina
- UAE
- Saudi Arabia
- South Africa
- Nigeria
- Rest of LAMEA
Key Market Players
List of Companies Profiled in the Report:
- AGCO Corporation
- CNH Industrial N.V.
- Deere & Company
- CLAAS KGaA mbH
- Escorts Ltd.
- International Tractors Ltd.
- Yanmar Co., Ltd.
- Kubota Corp.
- Mahindra & Mahindra Ltd.
- Tractors and Farm Equipment Ltd.
Chapter 1. Market Scope & Methodology
1.1 Market Definition
1.2 Objectives
1.3 Market Scope
1.4 Segmentation
1.4.1 LAMEA Agricultural Tractors Market, by Driveline Type
1.4.2 LAMEA Agricultural Tractors Market, by Engine Power
1.4.3 LAMEA Agricultural Tractors Market, by Country
1.5 Methodology for the research
Chapter 2. Market Overview
2.1 Introduction
2.1.1 Overview
2.1.1.1 Market Composition and Scenario
2.2 Key Factors Impacting the Market
2.2.1 Market Drivers
2.2.2 Market Restraints
Chapter 3. Competition Analysis - Global
3.1 KBV Cardinal Matrix
3.2 Recent Industry Wide Strategic Developments
3.2.1 Partnerships, Collaborations and Agreements
3.2.2 Product Launches and Product Expansions
3.2.3 Acquisition and Mergers
3.3 Top Winning Strategies
3.3.1 Key Leading Strategies: Percentage Distribution (2017-2022)
3.3.2 Key Strategic Move: (Product Launches and Product Expansions : 2018, Sep – 2022, Feb) Leading Players
Chapter 4. LAMEA Agricultural Tractors Market by Driveline Type
4.1 LAMEA Two-wheel Drive Market by Country
4.2 LAMEA Four-wheel Drive Market by Country
Chapter 5. LAMEA Agricultural Tractors Market by Engine Power
5.1 LAMEA Less than 40 HP Market by Country
5.2 LAMEA 41 to 100 HP Market by Country
5.3 LAMEA More than 100 HP Market by Country
Chapter 6. LAMEA Agricultural Tractors Market by Country
6.1 Brazil Agricultural Tractors Market
6.1.1 Brazil Agricultural Tractors Market by Driveline Type
6.1.2 Brazil Agricultural Tractors Market by Engine Power
6.2 Argentina Agricultural Tractors Market
6.2.1 Argentina Agricultural Tractors Market by Driveline Type
6.2.2 Argentina Agricultural Tractors Market by Engine Power
6.3 UAE Agricultural Tractors Market
6.3.1 UAE Agricultural Tractors Market by Driveline Type
6.3.2 UAE Agricultural Tractors Market by Engine Power
6.4 Saudi Arabia Agricultural Tractors Market
6.4.1 Saudi Arabia Agricultural Tractors Market by Driveline Type
6.4.2 Saudi Arabia Agricultural Tractors Market by Engine Power
6.5 South Africa Agricultural Tractors Market
6.5.1 South Africa Agricultural Tractors Market by Driveline Type
6.5.2 South Africa Agricultural Tractors Market by Engine Power
6.6 Nigeria Agricultural Tractors Market
6.6.1 Nigeria Agricultural Tractors Market by Driveline Type
6.6.2 Nigeria Agricultural Tractors Market by Engine Power
6.7 Rest of LAMEA Agricultural Tractors Market
6.7.1 Rest of LAMEA Agricultural Tractors Market by Driveline Type
6.7.2 Rest of LAMEA Agricultural Tractors Market by Engine Power
Chapter 7. Company Profiles
7.1 AGCO Corporation
7.1.1 Company Overview
7.1.2 Financial Analysis
7.1.3 Regional Analysis
7.1.4 Recent strategies and developments:
7.1.4.1 Partnerships, Collaborations, and Agreements:
7.1.4.2 Product Launches and Product Expansions:
7.1.4.3 Acquisition and Mergers:
7.2 Mahindra & Mahindra Limited (Mahindra Group)
7.2.1 Company Overview
7.2.2 Financial Analysis
7.2.3 Segmental and Regional Analysis
7.2.4 Research & Development Expense
7.2.5 Recent strategies and developments:
7.2.5.1 Collaborations, Partnerships and Agreements:
7.2.5.2 Product Launches and Product Expansions:
7.3 CNH Industrial N.V.
7.3.1 Company Overview
7.3.2 Financial Analysis
7.3.3 Segmental and Regional Analysis
7.3.4 Research & Development Expenses
7.3.5 Recent strategies and developments:
7.3.5.1 Partnerships, Collaborations, and Agreements:
7.3.5.2 Product Launches and Product Expansions:
7.3.5.3 Acquisition and Mergers:
7.4 Deere & Company
7.4.1 Company Overview
7.4.2 Financial Analysis
7.4.3 Segmental and Regional Analysis
7.4.4 Research & Development Expenses
7.4.5 Recent strategies and developments:
7.4.5.1 Product Launches and Product Expansions:
7.4.5.2 Acquisition and Mergers:
7.5 Claas KGaA mbH
7.5.1 Company Overview
7.5.2 Financial Analysis
7.5.3 Regional Analysis
7.5.4 Research & Development Expenses
7.5.5 Recent strategies and developments:
7.5.5.1 Partnerships, Collaborations, and Agreements:
7.5.5.2 Product Launches and Product Expansions:
7.6 Escorts Limited
7.6.1 Company Overview
7.6.2 Financial Analysis
7.6.3 Segmental and Regional Analysis
7.6.4 Research & Development Expenses
7.6.5 Recent strategies and developments:
7.6.5.1 Partnerships, Collaborations, and Agreements:
7.6.5.2 Product Launches and Product Expansions:
7.7 International Tractors Limited
7.7.1 Company Overview
7.7.2 Recent strategies and developments:
7.7.2.1 Partnerships, Collaborations, and Agreements:
7.7.2.2 Product Launches and Product Expansions:
7.8 Yanmar Holdings Co., Ltd.
7.8.1 Company Overview
7.9 KUBOTA Corporation
7.9.1 Company Overview
7.9.2 Financial Analysis
7.9.3 Segmental and Regional Analysis
7.9.4 Research & Development Expenses
7.10. Tractors and Farm Equipment Limited
7.10.1 Company Overview
7.10.2 Recent strategies and developments:
7.10.2.1 Product Launches and Product Expansions:
7.10.2.2 Acquisition and Mergers:
TABLE 1 LAMEA Agricultural Tractors Market, 2017 - 2020, USD Million
TABLE 2 LAMEA Agricultural Tractors Market, 2021 - 2027, USD Million
TABLE 3 Partnerships, Collaborations and Agreements– Agricultural Tractors Market
TABLE 4 Product Launches And Product Expansions– Agricultural Tractors Market
TABLE 5 Acquisition and Mergers– Agricultural Tractors Market
TABLE 6 LAMEA Agricultural Tractors Market by Driveline Type, 2017 - 2020, USD Million
TABLE 7 LAMEA Agricultural Tractors Market by Driveline Type, 2021 - 2027, USD Million
TABLE 8 LAMEA Two-wheel Drive Market by Country, 2017 - 2020, USD Million
TABLE 9 LAMEA Two-wheel Drive Market by Country, 2021 - 2027, USD Million
TABLE 10 LAMEA Four-wheel Drive Market by Country, 2017 - 2020, USD Million
TABLE 11 LAMEA Four-wheel Drive Market by Country, 2021 - 2027, USD Million
TABLE 12 LAMEA Agricultural Tractors Market by Engine Power, 2017 - 2020, USD Million
TABLE 13 LAMEA Agricultural Tractors Market by Engine Power, 2021 - 2027, USD Million
TABLE 14 LAMEA Less than 40 HP Market by Country, 2017 - 2020, USD Million
TABLE 15 LAMEA Less than 40 HP Market by Country, 2021 - 2027, USD Million
TABLE 16 LAMEA 41 to 100 HP Market by Country, 2017 - 2020, USD Million
TABLE 17 LAMEA 41 to 100 HP Market by Country, 2021 - 2027, USD Million
TABLE 18 LAMEA More than 100 HP Market by Country, 2017 - 2020, USD Million
TABLE 19 LAMEA More than 100 HP Market by Country, 2021 - 2027, USD Million
TABLE 20 LAMEA Agricultural Tractors Market by Country, 2017 - 2020, USD Million
TABLE 21 LAMEA Agricultural Tractors Market by Country, 2021 - 2027, USD Million
TABLE 22 Brazil Agricultural Tractors Market, 2017 - 2020, USD Million
TABLE 23 Brazil Agricultural Tractors Market, 2021 - 2027, USD Million
TABLE 24 Brazil Agricultural Tractors Market by Driveline Type, 2017 - 2020, USD Million
TABLE 25 Brazil Agricultural Tractors Market by Driveline Type, 2021 - 2027, USD Million
TABLE 26 Brazil Agricultural Tractors Market by Engine Power, 2017 - 2020, USD Million
TABLE 27 Brazil Agricultural Tractors Market by Engine Power, 2021 - 2027, USD Million
TABLE 28 Argentina Agricultural Tractors Market, 2017 - 2020, USD Million
TABLE 29 Argentina Agricultural Tractors Market, 2021 - 2027, USD Million
TABLE 30 Argentina Agricultural Tractors Market by Driveline Type, 2017 - 2020, USD Million
TABLE 31 Argentina Agricultural Tractors Market by Driveline Type, 2021 - 2027, USD Million
TABLE 32 Argentina Agricultural Tractors Market by Engine Power, 2017 - 2020, USD Million
TABLE 33 Argentina Agricultural Tractors Market by Engine Power, 2021 - 2027, USD Million
TABLE 34 UAE Agricultural Tractors Market, 2017 - 2020, USD Million
TABLE 35 UAE Agricultural Tractors Market, 2021 - 2027, USD Million
TABLE 36 UAE Agricultural Tractors Market by Driveline Type, 2017 - 2020, USD Million
TABLE 37 UAE Agricultural Tractors Market by Driveline Type, 2021 - 2027, USD Million
TABLE 38 UAE Agricultural Tractors Market by Engine Power, 2017 - 2020, USD Million
TABLE 39 UAE Agricultural Tractors Market by Engine Power, 2021 - 2027, USD Million
TABLE 40 Saudi Arabia Agricultural Tractors Market, 2017 - 2020, USD Million
TABLE 41 Saudi Arabia Agricultural Tractors Market, 2021 - 2027, USD Million
TABLE 42 Saudi Arabia Agricultural Tractors Market by Driveline Type, 2017 - 2020, USD Million
TABLE 43 Saudi Arabia Agricultural Tractors Market by Driveline Type, 2021 - 2027, USD Million
TABLE 44 Saudi Arabia Agricultural Tractors Market by Engine Power, 2017 - 2020, USD Million
TABLE 45 Saudi Arabia Agricultural Tractors Market by Engine Power, 2021 - 2027, USD Million
TABLE 46 South Africa Agricultural Tractors Market, 2017 - 2020, USD Million
TABLE 47 South Africa Agricultural Tractors Market, 2021 - 2027, USD Million
TABLE 48 South Africa Agricultural Tractors Market by Driveline Type, 2017 - 2020, USD Million
TABLE 49 South Africa Agricultural Tractors Market by Driveline Type, 2021 - 2027, USD Million
TABLE 50 South Africa Agricultural Tractors Market by Engine Power, 2017 - 2020, USD Million
TABLE 51 South Africa Agricultural Tractors Market by Engine Power, 2021 - 2027, USD Million
TABLE 52 Nigeria Agricultural Tractors Market, 2017 - 2020, USD Million
TABLE 53 Nigeria Agricultural Tractors Market, 2021 - 2027, USD Million
TABLE 54 Nigeria Agricultural Tractors Market by Driveline Type, 2017 - 2020, USD Million
TABLE 55 Nigeria Agricultural Tractors Market by Driveline Type, 2021 - 2027, USD Million
TABLE 56 Nigeria Agricultural Tractors Market by Engine Power, 2017 - 2020, USD Million
TABLE 57 Nigeria Agricultural Tractors Market by Engine Power, 2021 - 2027, USD Million
TABLE 58 Rest of LAMEA Agricultural Tractors Market, 2017 - 2020, USD Million
TABLE 59 Rest of LAMEA Agricultural Tractors Market, 2021 - 2027, USD Million
TABLE 60 Rest of LAMEA Agricultural Tractors Market by Driveline Type, 2017 - 2020, USD Million
TABLE 61 Rest of LAMEA Agricultural Tractors Market by Driveline Type, 2021 - 2027, USD Million
TABLE 62 Rest of LAMEA Agricultural Tractors Market by Engine Power, 2017 - 2020, USD Million
TABLE 63 Rest of LAMEA Agricultural Tractors Market by Engine Power, 2021 - 2027, USD Million
TABLE 64 Key Information – AGCO Corporation
TABLE 65 key Information – Mahindra & Mahindra Limited
TABLE 66 Key Information – CNH Industrial N.V.
TABLE 67 Key Information – Deere & Company
TABLE 68 Key Information – Claas KGaA mbH
TABLE 69 Key Information – Escorts Limited
TABLE 70 Key Information – International tractors limited
TABLE 71 Key Information – Yanmar Holdings Co., Ltd.
TABLE 72 Key Information – KUBOTA Corporation
TABLE 73 Key Information – Tractors and Farm Equipment Limited
List of Figures
FIG 1 Methodology for the research
FIG 2 KBV Cardinal Matrix
FIG 3 Key Leading Strategies: Percentage Distribution (2017-2022)
FIG 4 Key Strategic Move: (Product Launches and Product Expansions : 2018, Sep – 2022, Feb) Leading Players
FIG 5 Recent strategies and developments: AGCO Corporation
FIG 6 Recent strategies and developments: Mahindra & Mahindra Limited
FIG 7 Recent strategies and developments: CNH Industrial N.V.
FIG 8 Recent strategies and developments: Deere & Company
FIG 9 Recent strategies and developments: Claas KGaA mbH
FIG 10 Recent strategies and developments: Escorts Ltd.
FIG 11 Recent strategies and developments: International Tractors Ltd.
FIG 12 Recent strategies and developments: Tractors and Farm Equipment Ltd.