China Agricultural Tractor Market Size & Outlook
China agricultural tractor market, 2018-2030 (US$M)
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China agricultural tractor market highlights
- The China agricultural tractor market generated a revenue of USD 20,750.4 million in 2023 and is expected to reach USD 38,062.8 million by 2030.
- The China market is expected to grow at a CAGR of 9.1% from 2024 to 2030.
- In terms of segment, 41 to 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 20,750.4 million |
| Market revenue in 2030 | USD 38,062.8 million |
| Growth rate | 9.1% (CAGR from 2023 to 2030) |
| Largest segment | 41 to 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, China accounted for 19.8% 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 Asia Pacific, India agricultural tractor market is projected to lead the regional market in terms of revenue in 2030.
- India is the fastest growing regional market in Asia Pacific and is projected to reach USD 78,205.1 million by 2030.
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Agricultural Tractor Market Scope
Agricultural Tractor Market Companies
| Name | Profile | # Employees | HQ | Website |
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China 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.
41 to 100 hp was the largest segment with a revenue share of 36.28% in 2023. Horizon Databook has segmented the China 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.
Farm mechanization is becoming increasingly necessary in China as farmers’ income has been unable to keep pace with rising living costs.
The adoption of tractors in agricultural activities can lower labor costs by reducing labor requirements, increase labor productivity, and lower wage-labor costs. Mechanization is necessary to increase the productivity of crops such as rice, wheat, corn, potatoes, oilseed rice, cotton, and sugarcane.
Several regional regulatory organizations, such as the China Agricultural Industry Mechanization Association, are educating cooperatives and individual farmers about the advantages of using highhorsepower tractors in larger farm areas.
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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 China agricultural tractor market , including forecasts for subscribers. This country databook contains high-level insights into China agricultural tractor market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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China agricultural tractor market size, by engine power, 2018-2030 (US$M)
China Agricultural Tractor Market Outlook Share, 2023 & 2030 (US$M)
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