Agricultural Tractor Market Share In North America will Witness a YOY Growth Rate of 1.59% in 2022

The agricultural tractor market share in North America is expected to grow by 25.98 thousand units, accelerating at a CAGR of 2.43% during the forecast period. The market is fragmented. The introduction of driverless agricultural tractors will offer immense growth opportunities to market vendors.

In addition, the use of telematics in tractors is the major agricultural tractor market trend in North America. However, the availability of agricultural tractors on a rental basis is hindering the market growth over the next five years.

Technavio's research report provides a detailed analysis of the market with insights on trends, drivers, and challenges that are likely to impact market growth. It also provides a competitive analysis of the key market players and their product portfolios. Unlock Free Sample Analysis Report

Agricultural Tractor Market In North America: The US to lead market growth during the forecast period

• The agricultural tractor market in North America is segmented by Engine capacity (Low power, mid-power, and high power) and Geography (US, Canada, and Mexico).
• The agricultural tractor market growth in North America by the low-power segment will be significant during the forecast period. The growth of the segment is attributed to the popularity of low-hp agricultural tractors.
• Based on the geographical segmentation, the high level of farming activities will facilitate the agricultural tractor market growth in the US. 77% of the market's growth will originate from the US during the forecast period. The US is the key market for the agricultural tractor market in North America.
• The report provides an accurate prediction of the contribution of all the geographic segments to the growth of the agricultural tractor market size in North America.

Agricultural Tractor Market In North America: Vendor Landscape

AGCO Corp., CLAAS KGaA mbH, CNH Industrial NV, Deere and Co., Escorts Ltd., Kubota Corp., Kverneland AS, Mahindra & Mahindra Ltd., SDF SpA, and Tractors and Farm Equipment Ltd. are some of the major agricultural tractor market vendors in North America.

The market is fragmented, and the growth of the players depends on several factors such as market conditions, government support, and industry development. To survive and succeed in such an intensely competitive market, players must distinguish their product and service offerings through clear and unique value propositions.

Download the Free PDF sample report for highlights on the market size, growth momentum, regional growth opportunities, vendor analysis, and other factors influencing the market growth.

The report provides insights into the following FAQs:

1. What is the market CAGR?
   The market is accelerating at a CAGR of 2.43%.
    
2. What is the incremental growth of the market?
   The market is expected to grow by 25.98 thousand units.
    
3. What is a key factor driving this market?
   The introduction of driverless agricultural tractors will drive market growth over the forecast period.
    
4. What are the key regions covered in this market research report?
   The US, Canada, and Mexico are the key regions featured in this research report.
    
5. Which is the leading geographic region for this market?
   77% growth will originate from the US.
    
6. Who are the leading market vendors?
   The leading vendors in this market are AGCO Corp., CLAAS KGaA mbH, CNH Industrial NV, Deere and Co., Escorts Ltd., Kubota Corp., Kverneland AS, Mahindra & Mahindra Ltd., SDF SpA, and Tractors and Farm Equipment Ltd.
    
7. What are the market segments covered in this report?
   The market is segmented by Engine capacity (Low power, mid-power, and high power) and Geography (US, Canada, and Mexico).