Utility Tractor Market - Introduction
Utility tractor is a low/medium horsepower tractor that is used for agriculture and construction applications. Utility tractors are fitted with attachments in order to carry out applications in agriculture, landscaping, and maintenance.
Utility Tractor Market - Competitive Landscape
In May 2019, Solectrac, a North America-based tractor manufacturer announced it had bagged orders for its electric utility tractor ‘eUtility’. The company’s eUtility tractor has a 30KWh on-board battery. The eUtility is available in 2-wheel drive (2WD) and 4WD options, which are anticipated to be launched by the end of 2019.
Deere & Company
Deere & Company is a leading manufacturer of utility tractors. The company presently has it’s headquarter in Grand Detour, Illinois, U.S. It operates through a network of facilities in around 30 countries, worldwide. Deere & Company operates through four major business segments: Deere equipment operations, construction & forestry, agriculture & turf, and financial services.
CNH Industrial N.V.
Founded in 1999, CNH Industrial N.V. is a key player in the utility tractor market. The company operates through five major business segments, namely, agricultural equipment, commercial vehicles, construction equipment, powertrain, and elimination and others.
Established in 1990, AGCO Corporation, currently based in Duluth, Georgia, U.S., is a leading manufacturer of utility tractors. The company has presence across the globe with manufacturing & distribution facilities located across North America, South America, Asia Pacific & Africa, Europe, and the Middle East
Find out more about our latest report on utility tractor market with exclusive Report brochure here
Utility Tractor Market Dynamics
Rise in demand for mechanization amongst farmers driving the utility tractor market
Rise in spending power of farmers and demand to improve farm yield has driven the adoption of tractors. Consequently, subsistence and small-scale farmers in rural areas are adopting utility tractors, which in turn is driving the market. Utility tractors are cost-effective and use attachments such as mowers, log splitters, trailers, rotavators, and harrows. Utility tractors are easier to maintain as compared to high power tractors and are easy to customize as per their need in applications in agriculture and construction jobs. Therefore, the utility tractor market is estimated to expand owing to the rising demand for mechanization and increased adoption of tractors for agricultural operations.
4WD tractor segment to witness higher demand
The 4WD tractors provide considerably high forward traction during acceleration. This is helpful for agricultural conditions and when driving on moderate off-road terrain. Maximum power output increases from 12% to 45% in (4WD) four-wheel drive, depending on soil type and conditions. 4WD utility tractors are more efficient and improve fuel economy; hence, demand for these tractors is expected to rise significantly in the near future.
Looking for exclusive market insights on utility tractor market? Request a Custom Report here
Utility Tractor Market Segmentation
Based on the engine, the utility tractor market can be bifurcated into
- Internal Combustion
Based on the drive type, the utility tractor market can be classified into
Based on the application, the utility tractor market can be divided into
- Agriculture/ Landscaping
The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.
The study is a source of reliable data on:
- Market segments and sub-segments
- Market trends and dynamics
- Supply and demand
- Market size
- Current trends/opportunities/challenges
- Competitive landscape
- Technological breakthroughs
- Value chain and stakeholder analysis
The regional analysis covers:
- North America (U.S. and Canada)
- Latin America (Mexico, Brazil, Peru, Chile, and others)
- Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
- Eastern Europe (Poland and Russia)
- Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
- Middle East and Africa (GCC, Southern Africa, and North Africa)
The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.
A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.
Highlights of the report:
- A complete backdrop analysis, which includes an assessment of the parent market
- Important changes in market dynamics
- Market segmentation up to the second or third level
- Historical, current, and projected size of the market from the standpoint of both value and volume
- Reporting and evaluation of recent industry developments
- Market shares and strategies of key players
- Emerging niche segments and regional markets
- An objective assessment of the trajectory of the market
- Recommendations to companies for strengthening their foothold in the market
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.