Middle East & Africa Agricultural Tractor Market Size & Outlook
Middle East & Africa agricultural tractor market, 2018-2030 (US$M)
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MEA agricultural tractor market highlights
- The MEA agricultural tractor market generated a revenue of USD 2,777.6 million in 2023.
- The market is expected to grow at a CAGR of 6.1% 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.
MEA data book summary
| Market revenue in 2023 | USD 2,777.6 million |
| Market revenue in 2030 | USD 4,191.6 million |
| Growth rate | 6.1% (CAGR from 2023 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, MEA region accounted for 2.7% 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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Middle East & Africa 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 38.32% in 2023. Horizon Databook has segmented the Middle East & Africa 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 the Middle East and Africa (MEA) region is witnessing significant growth due to several factors. Firstly, the increasing population and urbanization are driving the demand for improved agricultural productivity.
Farmers in the MEA region are increasingly adopting modern farming techniques, leading to a rising need for efficient and powerful tractors. Moreover, government initiatives and subsidies aimed at promoting mechanized agriculture are playing a crucial role in fueling the tractors market growth.
The need for sustainable and advanced farming practices is encouraging farmers to invest in technologically advanced tractors equipped with features such as precision farming and GPS navigation.
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Target buyers of Middle East & Africa 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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Horizon Databook provides a detailed overview of continent-level data and insights on the Middle East & Africa agricultural tractor market , including forecasts for subscribers. This continent databook contains high-level insights into Middle East & Africa agricultural tractor market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Middle East & Africa agricultural tractor market
Middle East & Africa Agricultural Tractor Market Outlook Share, 2023 & 2030 (US$M)
Middle East & Africa agricultural tractor market
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