Brazil Agricultural Tractor Market Size & Outlook
Brazil agricultural tractor market, 2018-2030 (US$M)
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Brazil agricultural tractor market highlights
- The Brazil agricultural tractor market generated a revenue of USD 1,854.0 million in 2023 and is expected to reach USD 3,268.4 million by 2030.
- The Brazil market is expected to grow at a CAGR of 8.4% from 2024 to 2030.
- In terms of segment, more than 100 hp was the largest revenue generating engine power in 2023.
- 41 to 100 Hp is the most lucrative engine power segment registering the fastest growth during the forecast period.
Agricultural tractor market data book summary
| Market revenue in 2023 | USD 1,854.0 million |
| Market revenue in 2030 | USD 3,268.4 million |
| Growth rate | 8.4% (CAGR from 2023 to 2030) |
| Largest segment | More than 100 hp |
| Fastest growing segment | 41 to 100 Hp |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 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, Brazil accounted for 1.8% of the global agricultural tractor market in 2023.
- Country-wise, India is expected to lead the global market in terms of revenue in 2030.
- In Latin America, Brazil agricultural tractor market is projected to lead the regional market in terms of revenue in 2030.
- Brazil is the fastest growing regional market in Latin America and is projected to reach USD 3,268.4 million by 2030.
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Agricultural Tractor Market Scope
Agricultural Tractor Market Companies
| Name | Profile | # Employees | HQ | Website |
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Brazil 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.
More than 100 hp was the largest segment with a revenue share of 37.5% in 2023. Horizon Databook has segmented the Brazil 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 practice of farming has long been labor-intensive in Brazilian agriculture. With labor costs rising and labor availability becoming more limited in certain regions, Brazilian farmers are increasingly turning to farm mechanization to improve efficiency and reduce dependency on manual labor, which is fueling the growth of the market.
Moreover, Brazil's agricultural sector continues to diversify, with expansion into new crops and agroforestry systems. Tractors designed to handle a variety of crops, including grains, oilseeds, fruits, and vegetables, are essential for supporting this diversification.
Furthermore, to manufacture low-horsepower tractors and avoid tariffs on Chinese goods, numerous U.S.-based companies, such as AGCO Corporation, have expanded their operations in Brazil due to the trade conflict between the U.S. and China.
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Our clientele includes a mix of agricultural tractor market companies, investment firms, advisory firms & academic institutions.
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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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Horizon Databook provides a detailed overview of country-level data and insights on the Brazil agricultural tractor market , including forecasts for subscribers. This country databook contains high-level insights into Brazil agricultural tractor market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Brazil agricultural tractor market size, by engine power, 2018-2030 (US$M)
Brazil Agricultural Tractor Market Outlook Share, 2023 & 2030 (US$M)
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