Wheeled Tractor Machinery Market Forecasts to 2030 – Global Analysis By Product (Two-Wheeled Tractors, Four-Wheeled Tractors and Other Products), Function (Implement Carrier, Garden Tractor, Earth Moving Tractor, Row Crop Tractors, Utility Tractors, Indus

Wheeled Tractor Machinery Market Forecasts to 2030 – Global Analysis By Product (Two-Wheeled Tractors, Four-Wheeled Tractors and Other Products), Function (Implement Carrier, Garden Tractor, Earth Moving Tractor, Row Crop Tractors, Utility Tractors, Industrial Tractors, Rotatory Tillers, Orchard Tractors and Other Functions), Application (Agriculture, Industry, Construction Industry and Other Applications) and By GeographyAccording to Stratistics MRC, the Global Wheeled Tractor Machinery Market is accounted for $64.40 billion in 2023 and is expected to reach $109.66 billion by 2030 growing at a CAGR of 7.9% during the forecast period. Wheeled tractors are the vehicles used in farming to deliver high torque at low speeds. These tractors are frequently used in agriculture, farming, and outside of farming for other purposes like gardening. Particularly for tillage, tractors provide traction and power for agricultural tasks. These are frequently used to increase work productivity while cutting down on time. Moreover, numerous uses for wheeled tractor equipment exist, including tillage, planting, harvesting, cutting, and seeding.

According to Mahindra and Mahindra Ltd., it is a prominent player in the market for wheeled tractor machinery. The company's division, Mahindra Tractors, is well-known for manufacturing a wide range of tractors and agricultural machinery, catering to the needs of farmers and agricultural businesses.

Market Dynamics:

Driver:

Rising need for food and agricultural goods

The global Wheeled Tractor Machinery market expected to drive growth during the forecast period. The demand for food and agricultural products is rising along with global population growth. Farmers have been encouraged to increase their yield as a result of rising food demand, which has also led to an increase in investments in agricultural equipment like wheeled tractor machinery. Additionally, the demand for high-quality produce has increased as a result of changing eating habits and dietary patterns, necessitating the use of contemporary agricultural equipment.

Restraint:

Lack of knowledgeable operators

The global Wheeled Tractor Machinery market expected to hinder growth during the forecast period. Wheeled tractor machinery must be operated by trained professionals who have the necessary skills. Farmers may find it challenging to effectively operate and maintain their machinery due to a lack of skilled labor in the agriculture industry. Additionally, to increase the downtime and repair costs, this may result in decreased productivity and efficiency.

Opportunity:

Expanding demand from emerging markets

The global Wheeled Tractor Machinery market expected to drive growth during the forecast period. In developing nations like India, China, and Brazil, the agriculture sector is growing quickly. These nations have sizable populations and swift economic expansion, which has increased demand for food and agricultural goods. Moreover, by providing reasonably priced and effective wheeled tractor machinery in these areas, manufacturers will have the chance to increase their market share.

Threat:

Environment-related issues

The global Wheeled Tractor Machinery market expected to hamper growth during the forecast period. The use of wheeled tractor equipment may harm the environment, primarily as a result of greenhouse gas emissions. Regulations are being put in place by governments all over the world to reduce emissions and encourage sustainable lifestyles, which might affect the demand for equipment used with wheeled tractors. Moreover, the implementation of more stringent emissions regulations may raise the cost of production for producers, lowering the competitiveness of their goods and decreasing demand.

Covid-19 Impact:

The COVID-19 pandemic had a significant impact on the market for wheeled tractor machinery, causing supply chain disruptions, a shortage of equipment, decreased demand as a result of the economy's slowdown and a decline in construction and agricultural activity, disrupted manufacturing operations, a decline in agricultural investment, and changes in distribution channels towards online sales and digital platforms. The market for wheeled tractor machinery has been significantly impacted by these interrelated factors during the pandemic, posing difficulties for manufacturers, suppliers, and industry stakeholders.

The four-wheel tractor segment is expected to be the largest during the forecast period

The four-wheel tractor segment is expected to be the largest share during the forecast period. The four-wheel tractor is a self-propelled vehicle created to transport, pull, or propel agricultural equipment and implements. Quad tractors and quads are other names for the four-wheeled tractors. It has four tires up front and wheels in back. This car's design is typically square, and its large tires give it stability while driving. Moreover, contractors and businesses that need heavy equipment for their projects typically use these vehicles for farming tasks like landscaping, digging ditches, moving soil, and similar civil works. This device can speed up and simplify the processes involved in preparing the land. It has better traction and is adaptable to both dry and wet soil conditions.

The Agricultural segment is expected to have the highest CAGR during the forecast period

Due to the rising demand for tractors with high horsepower and payload capacities for agricultural use, the agricultural segment is anticipated to experience the highest CAGR during the forecast period. Tractors are used by farmers for agricultural tasks like plowing, sowing, tilling, grinding, and other tasks. Additionally, the tractor is used to pull or push equipment, simplifying farming tasks, and government investments in rural infrastructure development will increase, along with policies that are supportive of farmers.

Region with largest share:

During the anticipated period, Asia-Pacific will hold the largest market share for wheeled tractor machinery. This region includes nations with significant market presences, including China, India, Japan, and Australia. Due to its active farming practices and thriving agricultural industry, the Asia-Pacific region is dominant. The need to increase agricultural productivity and efficiency is what is driving the region's demand for wheeled tractor equipment. It's crucial to keep in mind that market dynamics can shift over time and that the current market share may change. It is advised to consult updated sources or the most recent market research reports for the most recent information.

Region with highest CAGR:

North America will experience the highest CAGR in the market for wheeled tractor machinery during the forecast period. The Wheeled Tractor Machinery Market was also expanding significantly in the North American region. The demand for wheeled tractor machinery was increasing in nations like the United States and Canada as a result of factors like agricultural modernization, the use of precision farming methods, and the need for greater efficiency in farming operations. Additionally, the expansion of the wheeled tractor machinery market in North America was facilitated by governmental support for agricultural innovation and the integration of cutting-edge technologies into agricultural practices.

Key players in the market

Some of the key players in Wheeled Tractor Machinery market include AGCO Corporation, Belarus Tractor, Caterpillar Inc., Claas Tractor, CNH Industrial, Deere and Company, Deutz-Fahr, Escorts Group, Farmtrac Tractor, Foton Loval, Kioti Tractor , Kubota Corporation , Kubota Tractor Corp., Mahindra and Mahindra Ltd., Massey Ferguson Tractor, McCormick Tractors, Mitsubishi Agriculture Machinery Co. Ltd., SAME Deutz-Fahr and Valtra.

Key Developments:

In May 2022, AGCO acquired JCA Industries, a Winnipeg, Manitoba based company specializing in autonomous software for agricultural machines, implement controls and electronic system components.

In August 2021, CLAAS unveiled a new product line of harvesters called TRION. The range consists of the TRION 700, TRION 600, and TRION 500 series. They are powered by Cummins engine.

In April 2020, Mahindra and Renault ended its joint venture which operated from 2005 onwards, with Mahindra buying out Renault's stake. Renault continues to licence and supply key components such as engines and transmissions to Mahindra & Mahindra.

Products Covered:
• Two-Wheeled Tractors
• Four-Wheeled Tractors
• Other Products

Functions Covered:
• Implement Carrier
• Garden Tractor
• Earth Moving Tractor
• Row Crop Tractors
• Utility Tractors
• Industrial Tractors
• Rotatory Tillers
• Orchard Tractors
• Other Functions

Applications Covered:
• Agriculture
• Construction
• Other Applications

Regions Covered:
• North America
US
Canada
Mexico
• Europe
Germany
UK
Italy
France
Spain
Rest of Europe
• Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
• South America
Argentina
Brazil
Chile
Rest of South America
• Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements