Canada Agricultural Tractor Market Size & Outlook
Canada agricultural tractor market, 2018-2030 (US$M)
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Canada agricultural tractor market highlights
- The Canada agricultural tractor market generated a revenue of USD 1,334.7 million in 2023 and is expected to reach USD 2,199.2 million by 2030.
- The Canada market is expected to grow at a CAGR of 7.4% from 2024 to 2030.
- In terms of segment, more than 100 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.
Agricultural tractor market data book summary
| Market revenue in 2023 | USD 1,334.7 million |
| Market revenue in 2030 | USD 2,199.2 million |
| Growth rate | 7.4% (CAGR from 2023 to 2030) |
| Largest segment | More than 100 hp |
| Fastest growing segment | Less than 40 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, Canada accounted for 1.3% 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 North America, U.S. agricultural tractor market is projected to lead the regional market in terms of revenue in 2030.
- U.S. is the fastest growing regional market in North America and is projected to reach USD 24,360.1 million by 2030.
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Agricultural Tractor Market Scope
Agricultural Tractor Market Companies
| Name | Profile | # Employees | HQ | Website |
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Canada 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 42.59% in 2023. Horizon Databook has segmented the Canada 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.
Canada's agricultural sector is witnessing a surge in new tractor sales owing to the widespread adoption of farm mechanization methods. Tractors and farm equipment play a vital role in conducting organized agricultural practices.
The availability of low-interest loans further facilitates the purchase of tractors and equipment by farmers in Canada. The increasing business turnover among hobby and livestock farmers primarily drives the sales of smaller tractors.
These smaller tractors cater to the needs of farmers with landholdings under 2 hectares, often managed by families who engage in farming alongside other employment during their leisure time.
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Our clientele includes a mix of agricultural tractor market companies, investment firms, advisory firms & academic institutions.
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Horizon Databook provides a detailed overview of country-level data and insights on the Canada agricultural tractor market , including forecasts for subscribers. This country databook contains high-level insights into Canada agricultural tractor market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Canada agricultural tractor market size, by engine power, 2018-2030 (US$M)
Canada Agricultural Tractor Market Outlook Share, 2023 & 2030 (US$M)
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