What is the global market size of the Industrial Tractor Market?

Global Industrial Tractor Market size was valued at USD 67.39 billion in 2021 and is poised to grow from USD 70.09 billion in 2022 to USD 95.92 billion by 2030, growing at a CAGR of 4% in the forecast period (2023-2030).

Who are the key vendors in the Global Industrial Tractor Market?

These companies provide a range of industrial tractors, including models made for forestry, construction, and agricultural use. To increase market share and stay competitive in the industry, they compete on a set of factors, including price, quality, innovation, and customer service. In addition, a lot of these companies work over many countries and countries, giving it a strong global presence. 'John Deere', 'CNH Industrial N.V.', 'AGCO Corporation', 'Kubota Corporation', 'Mahindra & Mahindra Ltd.', 'Escorts Limited', 'Yanmar Co., Ltd.', 'Claas KGaA mbH', 'Same Deutz-Fahr Group S.p.A.', 'JCB Inc.', 'Hitachi Construction Machinery Co., Ltd.', 'SDF S.p.A.', 'Doosan Bobcat Inc.', 'KIOTI Tractor', 'New Holland Agriculture', 'TAFE - Tractors and Farm Equipment Limited', 'Foton Lovol International Heavy Industry Co., Ltd.', 'Farmtrac Tractors Europe', 'VST Tillers Tractors Ltd.', 'Argo Tractors S.p.A.'

Industrial Tractor Market Size, Share, Growth Analysis, By Type (Utility Tractors, Row Crop Tractors), By Application (Agriculture, Construction), By Power Output (Below 40 HP, 40-99 HP), By Driver Type, By Region - Industry Forecast 2025-2032

Report ID: SQMIG20H2019 | Region: Global | Published Date: February, 2024
Pages: 232 | Tables: 117 | Figures: 77

Industrial Tractor Market News

In November 2022, The T8 tractor with Raven Autonomy, an autonomous grain cart harvest application, made its debut at SIMA 2022 for New Holland. It uses Omni DRIVE, the first driverless agriculture technology for harvesting grain carts in the world. The farmer may control, synchronize, and monitor an autonomous tractor from the harvester's cab thanks to cutting-edge technology stack.

In August 2022, in order to increase traction and lessen soil compaction, John Deere introduced the 9RX Series of four-track tractors.

Industrial Tractor Market Report Snapshots

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Global Industrial Tractor Market size was valued at USD 71.2 billion in 2023 and is poised to grow from USD 74.76 billion in 2024 to USD 110.45 billion by 2032, growing at a CAGR of 5.0% during the forecast period (2025-2032).

These companies provide a range of industrial tractors, including models made for forestry, construction, and agricultural use. To increase market share and stay competitive in the industry, they compete on a set of factors, including price, quality, innovation, and customer service. In addition, a lot of these companies work over many countries and countries, giving it a strong global presence. 'Caterpillar Inc. (USA) ', 'Komatsu Ltd. (Japan) ', 'CNH Industrial N.V. (UK/Netherlands) ', 'Volvo Construction Equipment (Sweden) ', 'Hitachi Construction Machinery Co., Ltd. (Japan) ', 'JCB (UK) ', 'Liebherr Group (Switzerland) ', 'Toyota Industries Corporation (Japan) ', 'Kion Group AG (Germany) ', 'Jungheinrich AG (Germany) ', 'Crown Equipment Corporation (USA) ', 'Hyster-Yale Materials Handling, Inc. (USA) ', 'Kalmar (Finland) ', 'Terex Corporation (USA) ', 'John Deere (USA) ', 'Kubota Corporation (Japan) ', 'SANY Group (China) ', 'Zoomlion Heavy Industry Science & Technology Co., Ltd. (China) ', 'Hyundai Construction Equipment (South Korea) ', 'Doosan Infracore (South Korea) '

The development of the agricultural industry is tightly linked to the demand for industrial tractors. The demand for food is rising as the world’s largest population expands, which has fueled the growth of the agricultural sector and increased the need for industrial tractors.

The market for industrial tractors is also being affected by the rise of electric cars, since several companies are developing electric tractors that have lower operating costs and emissions.

Asia-Pacific dominated the global market. The need for industrial tractors is being driven by the region's strong rise in infrastructure development activities, including construction and mining. In addition, the industry is expanding as more nations, including China and India, adopt precision agriculture methods. Major manufacturers like Mahindra & Mahindra (India) and Kubota Corporation (Japan) are present in the region, which is assisting to fuel the development of the industrial tractor market in the Asia-Pacific region.

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Industrial Tractor Market Size, Share, Growth Analysis, By Type (Utility Tractors, Row Crop Tractors), By Application (Agriculture, Construction), By Power Output (Below 40 HP, 40-99 HP), By Driver Type, By Region - Industry Forecast 2025-2032

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What is the global market size of Industrial Tractor Market?

Who are the key vendors in the Industrial Tractor Market?

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