Europe Agricultural Tractor Market Size & Outlook, 2023-2030
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Europe agricultural tractor market highlights
- The Europe agricultural tractor market generated a revenue of USD 8,403.9 million in 2023.
- The market is expected to grow at a CAGR of 7.3% 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.
- Country-wise, France is expected to register the highest CAGR from 2024 to 2030.
Europe data book summary
| Market revenue in 2023 | USD 8,403.9 million |
| Market revenue in 2030 | USD 13,803.6 million |
| Growth rate | 7.3% (CAGR from 2024 to 2030) |
| Largest segment | More than 100 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, Europe region accounted for 8.0% 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 |
|---|---|---|---|---|
| Tractors and Farm Equipment | View profile | 501-1000 | Chennai, Tamil Nadu, India, Asia | https://www.tafe.com |
| Escorts | View profile | 5001-10000 | Faridabad, Haryana, India, Asia | https://www.escortsgroup.com/ |
| Yanmar | View profile | 1001-5000 | Adairsville, Georgia, United States, North America | http://yanmar.com |
| International Tractors Ltd | View profile | 501-1000 | Hoshiarpur, Punjab, India, Asia | http://www.international.sonalika.com/ |
| CLAAS | View profile | 10001+ | Harsewinkel, Nordrhein-Westfalen, Germany, Europe | https://claas-gruppe.com |
| Kubota Corp | View profile | 65532 | 2-47, Shikitsuhigashi 1-Chome, Naniwa-ku, Osaka, Japan, 556-8601 | http://www.kubota.co.jp |
| Mahindra & Mahindra Ltd DR | View profile | 61874 | Dr. G. M. Bhosale Marg, Mahindra Towers, 5th Floor, Worli, Mumbai, MH, India, 400 018 | https://www.mahindra.com |
| AGCO Corp | View profile | 27900 | 4205 River Green Parkway, Duluth, GA, United States, 30096 | https://www.agcocorp.com |
| CNH Industrial NV | View profile | 40496 | Cranes Farm Road, Basildon, Essex, London, United Kingdom, SS14 3AD | https://www.cnhindustrial.com |
| Deere & Co | View profile | 83000 | One John Deere Place, Moline, IL, United States, 61265 | https://www.deere.com |
Europe 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 37.95% in 2023. Horizon Databook has segmented the Europe 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 Europe has witnessed substantial growth in recent years, driven by various factors that have reshaped the industry landscape. The increasing demand for advanced farming equipment to enhance productivity has been a significant contributor to the market expansion.
Key players in the industry, such as John Deere, Claas, and CNH Industrial N.V., have responded to this demand by introducing innovative tractor models with advanced features, including precision farming technologies, GPS guidance, and telematics systems.
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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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Horizon Databook provides a detailed overview of continent-level data and insights on the Europe agricultural tractor market , including forecasts for subscribers. This continent databook contains high-level insights into Europe agricultural tractor market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Europe agricultural tractor market size, by country, 2018-2030 (US$M)
Europe Agricultural Tractor Market Outlook Share, 2023 & 2030 (US$M)
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