Spain Agricultural Tractor Market Size & Outlook
Spain agricultural tractor market, 2018-2030 (US$M)
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Spain agricultural tractor market highlights
- The Spain agricultural tractor market generated a revenue of USD 878.9 million in 2023 and is expected to reach USD 1,219.4 million by 2030.
- The Spain market is expected to grow at a CAGR of 4.8% 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 878.9 million |
| Market revenue in 2030 | USD 1,219.4 million |
| Growth rate | 4.8% (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, Spain accounted for 0.8% 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 Europe, France agricultural tractor market is projected to lead the regional market in terms of revenue in 2030.
- France is the fastest growing regional market in Europe and is projected to reach USD 2,361.9 million by 2030.
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Agricultural Tractor Market Scope
Agricultural Tractor Market Companies
| Name | Profile | # Employees | HQ | Website |
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Spain 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 34.49% in 2023. Horizon Databook has segmented the Spain 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.
Agriculture is an important source of income for Spain's economy. Thus, Spain's government supports and empowers its farmers. A number of initiatives and measures have been adopted by the government to help farmers, including loan forgiveness programs, improved infrastructure, competitive agricultural pricing, and subsidies.
Farmers typically employed diesel-powered tractors, well-known for having high power in the Spanish tractors market. Machines are now more effective and can execute jobs with less power due to engine technology developments.
The fluctuation hampers farmers' ability to manage their budgets in diesel costs. Spanish manufacturers are currently focused on developing tractors powered by alternative fuels. Some tractors run on propane, diesel, kerosene, Compressed Natural Gas (CNG), and Liquefied Natural Gas (LNG).
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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 Spain agricultural tractor market , including forecasts for subscribers. This country databook contains high-level insights into Spain agricultural tractor market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Spain agricultural tractor market size, by engine power, 2018-2030 (US$M)
Spain Agricultural Tractor Market Outlook Share, 2023 & 2030 (US$M)
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