TRACTORS MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2025-2032)

The Global Tractors Market is estimated to be valued at USD 89.20 Billion in 2025 and is expected to reach USD 132.36 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 5.8% from 2025 to 2032. The global tractors market has witnessed substantial growth over the past few decades. Tractors find widespread applications in agriculture for tasks such as plowing, harvesting, soil conditioning and lifting and distributing fertilizers and feed. Strong demand from the agricultural sector driven by the need to increase farm productivity and rising production of commodities, such as cereals and grains, has accelerated the sales of tractors. Furthermore, growing mechanization of agriculture along with government initiatives aimed at modernizing farm equipment has stimulated market growth. Various technologies integrated with tractors, such as GPS, auto-guidance systems, and telematics, have enhanced efficiency. Major manufacturers, such as AGCO Corporation and Mahindra & Mahindra Ltd., are focusing on producing high-powered and fuel-efficient tractors to meet the changing requirements of customers. The market is anticipated to continue expanding in the coming years due to rapid urbanization, increasing population, and rising food demand globally.

Market Dynamics:

Rising mechanization of agriculture across both developed and developing countries is a key factor propelling the demand for tractors. Growth in infrastructure projects related to irrigation systems and watershed management have also contributed to market revenues. Various government schemes aimed at providing financial assistance to adopt modern agricultural machinery have significantly boosted sales. However, high initial capital requirement for purchasing advanced tractors remains a major restraint. Moreover, availability of old/used tractors at cheaper prices may deter new equipment purchases to some extent. A growing emphasis on sustainable farming presents new opportunities. Introduction of emission-compliant tractors integrated with advanced technologies can address environmental issues and aid in adoption of precision farming techniques.

Key Features of the Study:

- This report provides in-depth analysis of the global tractors market, and provides market size (US$ Billion) and compound annual growth rate (CAGR%) for the forecast period (2025–2032), considering 2024 as the base year

- It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market

- This study also provides key insights about market drivers, restraints, opportunities, new product launches or approvals, market trends, regional outlook, and competitive strategies adopted by key players

- It profiles key players in the global tractors market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies

- Key companies covered as a part of this study include Deere & Company, CNH Industrial N.V., Kubota Corporation, AGCO Corporation, Mahindra & Mahindra Ltd., CLAAS KGaA mbH, SDF Group, Yanmar Co., Ltd., Escorts Limited, Massey Ferguson Limited, Argo Tractors S.p.A., Kioti Tractor Division (Daedong Industrial Co., Ltd.), LS Mtron Ltd., Sonalika International Tractors Ltd., and TAFE (Tractors and Farm Equipment Limited)

- Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics

- The global tractors market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts

- Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global tractors market

Market Segmentation

•  Power Output Insights (Revenue, USD Bn, 2020 - 2032)
• • Below 40 HP
  • 40 HP to 100 HP
  • Above 100 HP
•  Drive Type Insights (Revenue, USD Bn, 2020 - 2032)
• • Two-Wheel Drive (2WD)
  • Four-Wheel Drive (4WD)
•  Application Insights (Revenue, USD Bn, 2020 - 2032)
• • Agriculture
  • Construction
  • Forestry and Others
• Regional Insights (Revenue, USD Bn, 2020 - 2032)
  • North America
    • U.S.
    • Canada
  • Latin America
    • Brazil
    • Argentina
    • Mexico
    • Rest of Latin America
  • Europe
    • Germany
    • U.K.
    • Spain
    • France
    • Italy
    • Russia
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • Australia
    • South Korea
    • ASEAN
    • Rest of Asia Pacific
  • Middle East
    • GCC Countries
    • Israel
    • Rest of Middle East
  • Africa
    • South Africa
    • North Africa
    • Central Africa
• Key Players Insights
  • Deere & Company
  • CNH Industrial N.V.
  • Kubota Corporation
  • AGCO Corporation
  • Mahindra & Mahindra Ltd.
  • CLAAS KGaA mbH
  • SDF Group
  • Yanmar Co., Ltd.
  • Escorts Limited
  • Massey Ferguson Limited
  • Argo Tractors S.p.A.
  • Kioti Tractor Division (Daedong Industrial Co., Ltd.)
  • LS Mtron Ltd.
  • Sonalika International Tractors Ltd.
  • TAFE (Tractors and Farm Equipment Limited)