Asia Pacific Agricultural Tractor Market Size & Outlook
Asia Pacific agricultural tractor market, 2018-2030 (US$M)
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Asia Pacific agricultural tractor market highlights
- The Asia Pacific agricultural tractor market generated a revenue of USD 75,412.4 million in 2023.
- The market is expected to grow at a CAGR of 8.5% from 2024 to 2030.
- In terms of segment, less than 40 hp was the largest revenue generating engine power in 2023.
- Less than 40 Hp is the most lucrative engine power segment registering the fastest growth during the forecast period.
- Country-wise, India is expected to register the highest CAGR from 2024 to 2030.
Asia Pacific data book summary
| Market revenue in 2023 | USD 75,412.4 million |
| Market revenue in 2030 | USD 133,522.9 million |
| Growth rate | 8.5% (CAGR from 2023 to 2030) |
| Largest segment | Less than 40 hp |
| Fastest growing segment | Less than 40 Hp |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Less than 40 Hp, 41 to 100 Hp, More than 100 Hp |
| Key market players worldwide | AGCO Corp, CNH Industrial NV, Deere & Co, CLAAS, Kubota Corp, Mahindra & Mahindra Ltd DR, International Tractors Ltd, Yanmar, Escorts, Tractors and Farm Equipment |
Other key industry trends
- In terms of revenue, Asia Pacific region accounted for 72.0% of the global agricultural tractor market in 2023.
- Globally, Asia Pacific is projected to lead the regional market in terms of revenue in 2030.
- North America is the fastest growing regional market and is projected to reach USD 26,559.3 million by 2030.
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Agricultural Tractor Market Scope
Agricultural Tractor Market Companies
| Name | Profile | # Employees | HQ | Website |
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Asia Pacific agricultural tractor market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to agricultural tractor market will help companies and investors design strategic landscapes.
Less than 40 hp was the largest segment with a revenue share of 36.14% in 2023. Horizon Databook has segmented the Asia Pacific agricultural tractor market based on less than 40 hp, 41 to 100 hp, more than 100 hp covering the revenue growth of each sub-segment from 2018 to 2030.
The agricultural tractors market in Asia Pacific has witnessed robust growth, driven by a combination of factors that have shaped the agricultural landscape in the region. The increasing mechanization of farming practices has been a primary driver as countries across the Asia Pacific have aimed to enhance productivity and efficiency in agriculture.
Major players in the market, such as Mahindra & Mahindra, Kubota Corporation, and Yanmar Co., Ltd., have played significant roles in introducing advanced tractor models tailored to meet the diverse needs of farmers in the region.
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Target buyers of Asia Pacific agricultural tractor market databook
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Our clientele includes a mix of agricultural tractor market companies, investment firms, advisory firms & academic institutions.
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30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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The rest of the revenue is generated working with academic and research not-for-profit institutes. We do our bit of pro-bono by working with these institutions at subsidized rates.
Horizon Databook provides a detailed overview of continent-level data and insights on the Asia Pacific agricultural tractor market , including forecasts for subscribers. This continent databook contains high-level insights into Asia Pacific agricultural tractor market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Asia Pacific agricultural tractor market size, by country, 2018-2030 (US$M)
Asia Pacific Agricultural Tractor Market Outlook Share, 2023 & 2030 (US$M)
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