Global Agricultural Tractor Market is estimated to be valued at USD 88.41 Bn in 2025 and is expected to reach USD 131.28 Bn by 2032, growing at a compound annual growth rate (CAGR) of 5.8% from 2025 to 2032.
Report Coverage
Report Details
Base Year:
2024
Market Size in 2025:
USD 88.41 Bn
Historical Data for:
2020 To 2024
Forecast Period:
2025 To 2032
Forecast Period 2025 to 2032 CAGR:
5.80%
2032 Value Projection:
USD 131.28 Bn
Figure. Agricultural Tractor Market Share (%), By Region 2025
Report Description:
The global agricultural tractor market has been witnessing steady growth in the past few decades owing to the increasing mechanization of agricultural activities worldwide. Tractors help in minimizing the dependence on manual labor for activities like plowing, seeding, harvesting, etc. and boost farm output. Additionally, rising population has augmented the demand for food, giving an impetus to agricultural productivity. Tractors offer efficient and timely operations in farms and help meet the escalating food demand. Various government initiatives promoting farm mechanization through subsidy programs have further augmented the adoption of tractors among small and marginal farmers. However, the market faces challenges from decreasing average farm sizes and rising cost of fuel.
Market Dynamics:
The key drivers fueling the global agricultural tractor market include the growing demand for food grains owing to surge in population, shortage of agricultural labor, and initiatives by various governments to promote farm mechanization. Rising agricultural incomes and financing schemes for farmers have positively impacted tractor sales. Additionally, increasing opportunities in non-agricultural activities have led to the migration of farm labor from rural to urban areas aggravating the shortage of labor. This has boosted the demand for tractors for field cultivation. However, decreasing average land holdings especially in Asian countries along with rising fuel costs pose challenges to market growth. Increased adoption of technologies like autonomous tractors and electric tractors present significant opportunities for market players.
Key features of the study:
This report provides an in-depth analysis of the global agricultural tractor market, and provides market size (US$ Billion) and compound annual growth rate (CAGR %) for the forecast period (2025-2032), considering 2024 as the base year.
It elucidates potential revenue growth opportunities across different segments and explains attractive investment proposition matrices for this market.
This study also provides key insights about market drivers, restraints, opportunities, new product launches or approvals, market trends, regional outlook, and competitive strategies adopted by key players.
It profiles key players in the global agricultural tractor market based on the following parameters - company highlights, products portfolio, key highlights, financial performance, and strategies.
Key companies covered as a part of this study include Agco Tractors (Fendt), Captain Tractors, Eicher Tractors, Escorts Tractors, Force Tractors, Gromax Agri Equipment Limited, John Deere Tractors, JCB, Kubota Tractor, Mahindra Tractors, Monarch Tractor Electric Tractor, New Holland Tractors, SDF, Sonalika Tractors, SOLECTRAC, Standard Tractors, and Swaraj Tractors.
Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics.
The global agricultural tractor market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts.
Detailed Segmentation-
By Operation
Manual
Autonomous
By Engine Power
Below 40 HP
40 HP-120 HP
121 HP-180 HP
181 HP-250 HP
More than 250 HP
By Type
ICE
Electric/Hybrid
By Drive Type
2-Wheel Drive
4-Wheel Drive
By Region
North America
Europe
Asia Pacific
Latin America
Middle East
Africa
Key Players
Agco Tractors (Fendt)
Captain Tractors
Eicher Tractors
Escorts Tractors
Force Tractors
Gromax Agri Equipment Limited
John Deere Tractors
JCB
Kubota Tractor
Mahindra Tractors
Monarch Tractor Electric Tractor
New Holland Tractors
SDF
Sonalika Tractors
SOLECTRAC
Standard Tractors
Swaraj Tractors
Table of Contents
1. Research Objectives and Assumptions
Research Objectives
Assumptions
Abbreviations
2. Market Purview
Report Description
Market Definition and Scope
Executive Summary
Market Snippet, By Operation
Market Snippet, By Engine power
Market Snippet, By Type
Market Snippet, By Drive type
Market Snippet, By Region
Coherent Opportunity Map (COM)
3. Market Dynamics, Regulations, and Trends Analysis
Market Dynamics
Drivers
Restraints
Opportunities
Regulatory Scenario
Industry Trend
Merger and Acquisitions
New system Launch/Approvals
Impact of the COVID-19 Pandemic
4. Global Agricultural Tractor Market, By Operation, 2020-2032 (US$ Billion)
Introduction
Market Share Analysis, 2025 and 2032 (%)
Y-o-Y Growth Analysis, 2020-2032
Segment Trends
Manual
Introduction
Market Size and Forecast, 2020-2032, (US$ Billion)
Autonomous
Introduction
Market Size and Forecast, 2020-2032, (US$ Billion)
5. Global Agricultural Tractor Market, By Engine power, 2020-2032 (US$ Billion)
Introduction
Market Share Analysis, 2025 and 2032 (%)
Y-o-Y Growth Analysis, 2020-2032
Segment Trends
Below 40 HP
Introduction
Market Size and Forecast, 2020-2032, (US$ Billion)
40 HP-120 HP
Introduction
Market Size and Forecast, 2020-2032, (US$ Billion)
121 HP-180 HP
Introduction
Market Size and Forecast, 2020-2032, (US$ Billion)
181 HP-250 HP
Introduction
Market Size and Forecast, 2020-2032, (US$ Billion)
More than 250 HP
Introduction
Market Size and Forecast, 2020-2032, (US$ Billion)
6. Global Agricultural Tractor Market, By Type, 2020-2032 (US$ Billion)
Introduction
Market Share Analysis, 2025 and 2032 (%)
Y-o-Y Growth Analysis, 2020-2032
Segment Trends
ICE
Introduction
Market Size and Forecast, 2020-2032, (US$ Billion)
Electric/Hybrid
Introduction
Market Size and Forecast, 2020-2032, (US$ Billion)
7. Global Agricultural Tractor Market, By Drive type, 2020-2032 (US$ Billion)
Introduction
Market Share Analysis, 2025 and 2032 (%)
Y-o-Y Growth Analysis, 2020-2032
Segment Trends
2-Wheel Drive
Introduction
Market Size and Forecast, 2020-2032, (US$ Billion)
4-Wheel Drive
Introduction
Market Size and Forecast, 2020-2032, (US$ Billion)
8. Global Agricultural Tractor Market, By Region, 2020-2032 (US$ Billion)
Introduction
Market Share Analysis, By Region, 2025 and 2032 (%)
Y-o-Y Growth Analysis, 2020-2032
North America
Regional Trends
Market Size and Forecast, By Operation, 2020-2032 (US$ Billion)
Market Size and Forecast, By Engine power, 2020-2032 (US$ Billion)
Market Size and Forecast, By Type, 2020-2032 (US$ Billion)
Market Size and Forecast, By Drive type, 2020-2032 (US$ Billion)
Market Share Analysis, By Country, 2020 and 2032 (%)
U.S.
Canada
Europe
Regional Trends
Market Size and Forecast, By Operation, 2020-2032 (US$ Billion)
Market Size and Forecast, By Engine power, 2020-2032 (US$ Billion)
Market Size and Forecast, By Type, 2020-2032 (US$ Billion)
Market Size and Forecast, By Drive type, 2020-2032 (US$ Billion)
Market Share Analysis, By Country, 2020 and 2032 (%)
U.K.
Germany
Italy
France
Russia
Rest of Europe
Asia Pacific
Regional Trends
Market Size and Forecast, By Operation, 2020-2032 (US$ Billion)
Market Size and Forecast, By Engine power, 2020-2032 (US$ Billion)
Market Size and Forecast, By Type, 2020-2032 (US$ Billion)
Market Size and Forecast, By Drive type, 2020-2032 (US$ Billion)
Market Share Analysis, By Country, 2020 and 2032 (%)
China
India
ASEAN
Australia
South Korea
Japan
Rest of Asia Pacific
Latin America
Regional Trends
Market Size and Forecast, By Operation, 2020-2032 (US$ Billion)
Market Size and Forecast, By Engine power, 2020-2032 (US$ Billion)
Market Size and Forecast, By Type, 2020-2032 (US$ Billion)
Market Size and Forecast, By Drive type, 2020-2032 (US$ Billion)
Market Share Analysis, By Country, 2020 and 2032 (%)
Brazil
Argentina
Mexico
Rest of Latin America
Middle East and Africa
Regional Trends
Market Size and Forecast, By Operation, 2020-2032 (US$ Billion)
Market Size and Forecast, By Engine power, 2020-2032 (US$ Billion)
Market Size and Forecast, By Type, 2020-2032 (US$ Billion)
Market Size and Forecast, By Drive type, 2020-2032 (US$ Billion)
Market Share Analysis, By Country, 2020 and 2032 (%)