Top Tractor Companies

Global Tractor Market size was valued at USD 60.27 Billion in 2024 and is poised to grow from USD 62.51 Billion in 2025 to USD 83.73 Billion by 2033, growing at a CAGR of 3.72% during the forecast period (2026–2033).

Global companies, such as AGCO Corporation (Massey Ferguson and Fendt), John Deere, CNH Industrial (Case IH and New Holland), and Kubota, dominate the European market. These highly aggressive players offer an extensive range of models with various capabilities and powers to cater to the diverse needs of farmers within Europe. Since after-sales services are vital in the agricultural machinery industry, competition is not just on product offers but also on networks of service and support.   'John Deere (USA) ', 'CNH Industrial (UK/Netherlands) ', 'AGCO Corporation (USA) ', 'Kubota Corporation (Japan) ', 'Mahindra & Mahindra (India) ', 'Claas (Germany) ', 'SDF Group (Italy) ', 'Yanmar Co., Ltd. (Japan) ', 'Kioti (Daedong Industrial Co., Ltd.) (South Korea) ', 'Argo Tractors (Landini, McCormick) (Italy) ', 'TYM Corporation (South Korea) ', 'Zetor Tractors a.s. (Czech Republic) ', 'Branson Tractors (Kukje Machinery) (South Korea) ', 'Sonalika Group (India) ', 'Escorts Limited (India) ', 'Massey Ferguson (AGCO brand) (USA) ', 'Fendt (AGCO brand) (Germany) ', 'New Holland Agriculture (CNH brand) (Italy)'

It relates the rising population worldwide directly to increased agricultural production and is one of the important reasons for the growing demand for tractors. To cater to increased food demands, farmers are now using tractors to perform all the necessary chores such as planting, harvesting, or plowing. These devices facilitate more massive farming activities, and combined with greater productivity, allow farmers to farm more land within less time. Food security is increasingly a very urgent requirement globally and as farmers realize that purchasing new machinery raises productivity and aids in sustainable farming, tractor sales are predicted to increase.  

Alternative Fuels and Electrification: The tractor market is undergoing an emerging trend of electrification and more utilization of alternative fuel. The threat of carbon emissions and environmental is making the producers invest more in electric and hybrid tractor models. Environmentally conscious farmers will be interested in these vehicles because they not only offer silent functions and reduce dependence on fossil fuels but save running costs. On top of that, when biofuels and hydrogen-powered tractors are developed, the market is set to become yet more diversified. This supports global sustainability goals and fosters innovation in agriculture as more farmers seek higher output while leaving as little environmental impact as possible. 

Asia-Pacific held the largest share of the global tractor market over the forecast period due to the massive presence of smallholder farmers in the region and increasing government support for agricultural mechanization. Innovations in tractors and their companion technologies are significant in the region. Traction manufacturers are incorporating technological aspects like robotics, automation, and GPS in such tractors to counter the competition from Chinese companies, which is selling its merchandise at a lower price than international participants. In addition, the government of each country is seriously pursuing several initiatives to enhance the mechanism in farming. For instance, to boost the development of the tractor market in India, the Government put forward schemes, such as the Rashtriya Krishi Vikas Yojana, that provides incentives to farmers, and National Bank for Agriculture and Rural Development (NABARD), providing incentives.