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Austria Tractor Market - Industry Analysis & Forecast 2023-2028

TO BE PUBLISHED : Jun 2023 | Pages : 128

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THE AUSTRIA TRACTOR MARKET SIZE WAS VALUED AT 5,353 UNITS IN 2022 AND IS EXPECTED TO REACH 6,814 UNITS BY 2028, GROWING AT A CAGR OF 4.10% DURING THE FORECAST PERIOD

The Austria Tractor Market Size, Share, and Trends Analysis Report By:

  • Horsepower: Less Than 50 HP, 50 HP-100 HP, and Above 100 HP
  • Wheel Drive: 2-Wheel-Drive and 4-Wheel-Drive
  • Geography: Lower Austria, Styria, Carinthia, Burgenland, and Others

Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2023–2028

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Most Exhaustive Report

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128 Pages

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45 Tables

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39 Charts

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5 Regions

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1 Countries

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10 Companies

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3 Market Segment

AUSTRIA TRACTOR MARKET REPORT SCOPE

Report Attribute Details
Market Size (2028) 6,814 Units
Market Size (2022) 5,353 Units
CAGR (2022-2028) 4.10%
HISTORIC YEAR 2020-2021
BASE YEAR 2022
Forecast Year 2023-2028
SEGMENTS BY Horsepower, Drive Type, and Geography
LARGEST SEGMENT BY HORSEPOWER 50 HP-100 HP
LARGEST SEGMENT BY DRIVE TYPE 2-Wheel Drive
LARGEST SEGMENT BY GEOGRAPHY Lower Austria
KEY VENDORS John Deere, Kubota, AGCO, CNH Industrial, and Steyr Traktoren

INDUSTRY INSIGHTS

The Austria tractor market witnessed registrations of 5,353 units in 2022, which is expected to reach 6,814 units by 2028 growing at a CAGR of 4.10% during the forecast period. The expanding demand for food items, rising use of advanced farming methods, and government backing for the agriculture industry are significant factors that have contributed to the market growth. Farmers in Austria have access to various international and local brands in the relatively stable market for agricultural tractors. But the market is also subject to fluctuation in supply and demand, adoption of new technology, and regulation changes.

The agriculture tractor market in Austria increased by 27.29% in 2022 from 2021. The increase in crop production and tractor sales was due to favorable climate conditions and government support to farmers. Further, precision agriculture technology has been more popular in Austria in recent years, increasing the demand for tractors with GPS and other advanced technologies. The need for new tractors in the nation is likely to increase due to this trend in the upcoming years. Overall, the Austria tractor market is an important sector that supports the country’s agricultural industry. The industry is anticipated to be steady over time due to the availability of various international and local farmers and the growth of new technology.

MARKET TRENDS & DRIVERS

Increasing Potential for Electric Tractors
There is certainly increasing potential for electric tractors in Austria, as the country has been actively promoting the adoption of electric vehicles in recent years. The government has set a goal of achieving 100% renewable electricity by 2030, and part of this effort is offering various incentives and subsidies for the purchase of electric vehicles. The Austria tractor market has around eighty electric vehicle startups, like Kreisel Electric and Fronius International. In December 2021,  John Deere signed an agreement with Kreisel Electric, a battery technology provided and based in Austria.

Growth in Agricultural Productivity & Exports
Austria has been experiencing significant agricultural productivity and export growth in recent years. The growth has been driven by a combination of factors, including adopting new technologies and farming practices, investment in research and development, and increased demand for high-quality food products domestically and internationally. One of Austria's main drivers of agricultural productivity has been adopting sustainable and environmentally friendly farming practices. This includes using organic farming methods, which have become increasingly popular recently.

INDUSTRY RESTRAINTS

Rising Demand for Used & Rental Tractors
One of the reasons for the rising demand for used and rented tractors in Austria is that it has become increasingly difficult for many farmers to afford to buy new tractors as their price has risen in recent years. As a result, many people are switching to used tractors as a more cost-effective choice. Used tractors are frequently more affordable than new ones and can still be highly reliable and productive for agricultural tasks. Such factors are projected to hamper the growth of the Austria tractor market. 

SEGMENTATION INSIGHTS

INSIGHTS BY HORSEPOWER
Tractors in the power range of 50 HP-100 HP are likely to be the largest contributors to the Austria tractor market growth. Some factors that favor the sales of tractors in the 50 HP-100 HP range are as follows: versatility, presence of hard soil in Austria, and increase in purchasing power of farmers due to better minimum support price (MSP) and crop realization. Stakeholders in food production, including public and private bodies and farmers, focus on closing the yield gap and substantial increments in the amount of food produced as the global challenge regarding food shortage mirrors in the country. Tractors will play a pivotal role in operating all new-age, technologically advanced equipment to fulfill the increased farm output needs

INSIGHTS BY DRIVE TYPE
The Austria tractor market is categorized into the following segments based on the drive type of tractors 2-wheel drive and 4-wheel drive. The industry is dominated by mid-range HP 2WD tractors, as 2WD tractors are the most preferred tractors by farmers in the country. The low relative cost of ownership and numerous features and haulage power make 2WD tractors more popular among farmers. Popular brands, including John Deere, CNH Industrial, and AGCO, are the preferred choices for 2WD tractors among farmers in the country.

REGIONAL ANALYSIS

The Lower Austria region held the most substantial Austria tractor market share in 2022. The Lower Austria region leads the nation in adopting and penetrating farm mechanization practices. The major regions in the Lower Austria region are Waldviertel, Mostviertel, Industrieviertel, and Weinviertel. In Lower Austria, Waldviertel is a high-potential industry for new tractors and advanced agricultural tools. Further, with a focus on premium goods and environmentally friendly farming methods, Lower Austria’s agricultural sector is diverse and productive overall. The area contributes significantly to Austria’s agricultural production due to its rich soil, pleasant temperature, and market accessibility.

COMPETITIVE LANDSCAPE

CNH, AGCO, and John Deere dominated the Austria tractor market. These players focus on innovations to compete in the industry. They invest in developing advanced agriculture tractor technology for precision farming and machine automation. Further, the industry has many established players that provide their products in open fields, vineyards, and others. The threat of new vendors in the country is quite low. This can be attributed to the following factors:

  • Tractors have a long replacement cycle. Moreover, vendors improve their aftersales services, increasing customer loyalty toward existing brands.
  • The Austria tractor market is dominated largely by companies with a comprehensive portfolio of offerings for various use cases.
  • There is a high demand for used and certified tractors. Vendors sell certified and used tractors under their brand names. The price for such a tractor is nearly half that of a new tractor.

Frequently Asked Questions

What are the expected units sold in the Austria tractor market by 2028?

Around 6,814 unit shipments will be sold in the Austria tractor market by 2028.

What is the growth rate of the Austria tractor market?

The Austria tractor market share is expected to grow at a CAGR of 4.10% from 2022 to 2028.

How big is the Austria tractor market?

The Austria tractor market size crossed shipments of 5,353 units in 2022.

Which region holds the largest Austria tractor market share?

Lower Austria holds the largest share in the Austria tractor market share, accounting for over 28% in 2022.

Who are the key companies in the Austria tractor market?

John Deere, Kubota, AGCO, CNH Industrial, and Steyr Traktoren are the key players in the Austria tractor market.

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The Austria tractor market size witnessed shipments of 5,353 units in 2022 and is expected to reach 6,814 units by 2028.

The following factors are likely to contribute to the Austria tractor market growth:

  • Fiscal Support to Farmers Through Loans & Subsidies
  • Reducing Workforce Boosting Farm Mechanization
  • Growing Agricultural Productivity & Exports
  • Socio-Demographic Changes in Austria

Base Year: 2022

Forecast Year: 2023-2028

The report considers the present scenario of the Austria tractor market and its market dynamics for 2023−2028. It covers a detailed overview of several market growth enablers, restraints, and trends. The study covers both the demand and supply sides of the industry. It also profiles and analyzes leading companies and several other prominent companies operating in the industry.

Key Company Profiles

  • John Deere
    • Business Overview
    • Product Offerings
    • Key Strategies
    • Key Strengths
    • Key Opportunities
  • Kubota
  • AGCO
  • CNH Industrial
  • Steyr Traktoren

Other Prominent Vendors

  • Arbos
    • Business Overview
    • Product Offerings
  • CLAAS
  • Iseki
  • SDF
  • Yanmar

Segmentation by Horsepower

  • Less Than 50 HP
  • 50 HP-100 HP
  • Above 100 HP

Segmentation by Wheel Drive

  • 2-Wheel-Drive
  • 4-Wheel-Drive

Segmentation by Geography

  • Lower Austria
  • Styria
  • Carinthia
  • Burgenland
  • Others

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