Latin America Tractor market size, share, growth a

Tractor Market in Latin America - Industry Outlook and Forecast 2018-2023

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This market research report on tractor market in Latin America offers analysis on market size & forecast, market share, industry trends, growth drivers, and vendor analysis. The market study also includes insights on segmentation by horsepower type (<40 HP, 40-100 HP, 100+ HP, and 4 WD), by wheel drive (2 WD and 4 WD), and by countries (Brazil, Mexico, and Argentina).

Tractor Market in Latin America - Overview

The availability of significant natural resources and vast expanses of unexploited agricultural land is one of the main factors attributing to the demand in the tractor market in Latin America. The annual food and agricultural exports in 2016 across Brazil, Argentina, Mexico, and Chile accounted for over $100 billion. The favorable government policies and the growing demand for ethanol will drive the tractor sales in the Latin American market. The rising demand for 40-200 HP tractors across the region will create lucrative opportunities for leading manufacturers in the Latin American market. The growing awareness among land-owners about the potential agricultural mechanization will encourage large-scale farmers to adopt technology-driven farming methods in the region. The growing trend of precision agriculture aided with the increasing penetration of the Internet and rise in the number of smartphones is propelling the demand for farm mechanization in the Latin American market. Leading IT and telecommunication provider such as Cisco is investing in the development of the Internet of Things network in Argentina. Such investments will promote easy access to farmers to agricultural solutions and advanced technology that requires internet connectivity to operate thereby, accelerating the growth of the tractor market in Latin America.

The leading vendors are focusing on offering aftermarket services to increase the credibility of the product and increase brand loyalty among consumers to boost their revenues in the Latin American market. The farmers are leveraging smart technologies such as sensor technology, GPS, and climate satellites to understand the impact of climate change on crop production and promote sustainable practices in the region. The tractor market in Latin America is expected to reach volumes of around 87 thousand units by 2023, growing at a CAGR of more than 4% during 2018-2023.

Latin America Tractor Market at a Glance

Latin America Tractor Market Size, Growth Analysis 2023

 

Tractor Market in Latin America - Dynamics

The growing focus on using alternate fuel-based machines will propel the growth of the tractor market in Latin America. The leading manufacturers are developing tractors with alternative fuels such as bio-diesel and electric or battery operated machines to attract new consumers and boost sales in the Latin American market. The introduction of products will alternative fuel sources will help vendors gain a larger market share and boost their revenues. The increasing availability of machines that run on liquefied natural gas (LNG), compressed natural gas (CNG), propane, diesel, and kerosene will help in the development of the Latin American market. Bio-diesel tractors initially cost a lot of money but over the period of time require less maintenance thereby, making them more profitable than the traditional ones. The increasing investments in R&D and manufacturing of machines that operate on alternative fuels will revolutionize the tractor market in Latin America.

Tractor Market in Latin America - Segmentation

This market research report includes a detailed segmentation of the market by HP type, by wheel drive, and by countries.

Segmentation of Tractor Market in Latin America

 

 

Tractor Market in Latin America – By Horsepower Type

Agribusinesses to drive the demand for 40-100 HP machines in the tractor market in Latin America during 2023

The tractor market in Latin America by HP type is segmented into <40 HP, 40-100 HP, 100+ HP, and 4 WD. The 40-100 HP segment dominated the majority market share in 2017, growing at a CAGR of more than 3% during the forecast period. Brazil recorded the highest sale of 40-100 HP machines in the Latin American market. The increasing productivity and rise in crop exports in Argentina will boost the demand for 40-100 HP machines in the Latin American market. Brazil, Argentina, and Mexico together contributed to more than 85% of the unit sales in this segment and is expected to increase over the next few years. The growing adoption of farm mechanization and the introduction of precision farming will propel the growth of this segment in the market in Latin America. The development of agribusiness that enables production and commercialization of agricultural commodities will have a positive impact on the tractor market in Latin America. The trend of using modern agricultural techniques and minimal input cost to increase productivity will augment the development of this segment in the Latin American market.

Tractor Market in Latin America – By Wheel Drive

Upgrades to boost the use of 2WD machines in the tractor market in Latin America during the forecast period

The wheel drive segment in the tractor market in Latin America is classified into 2 WD and 4 WD. The 2 WD segment controls more than 3/4th of the market share in 2017, growing at a CAGR of more than 4% during the forecast period. The increasing use of 2 WD machines by traditionalist farmers and the cost efficiency of these products is driving the growth of this segment in the Latin American market. The leading vendors are focusing on designing 2 WD models to introduce more power and ease of handling features, so that farmers can upgrade their tractors and buy new ones as per the usage in the Latin American market. The introduction of machines with better fuel efficiency and operational at confined spaces especially in countries such as Brazil and Mexico will help manufacturers gain a larger market share and boost their revenues in the region. The focus on customization as per the requirement of the farmers will contribute to the growth of the tractor market in Latin America. Massey Ferguson and John Deere are largest manufacturers in the 2 WD segment in the regional market.

Tractor Market in Latin America – By Countries

Government subsidies in Brazil will drive the growth in the tractor market in Latin America during the forecast period

The tractor market in Latin America by countries is divided into Brazil, Mexico, and Argentina. Brazil is the largest consumer and occupied most of the market share in 2017, growing at a CAGR of approximately 5% during the forecast period. Brazil is the largest exporter of coffee, soybeans, crop-based ethanol, and a major exporter of cotton, corn, rice, and sugarcane in the world. Brazil is the second largest region after the US in tractor sales across the world market. The availability of government financing subsidies in the country will propel the growth of the Latin American market during the forecast period. The introduction of a new emission standard, called as "Mar 1" will help vendors launch new agricultural machines in the Brazilian market. The growing demand for high HP tractors for better productivity and yield will propel the development of the tractor market in Latin America during the forecast period.

Key Vendor Analysis

The tractor market in Latin America witnesses the presence of several established players in various segments that includes open fields and horticulture. These companies are driving the demand and controlling the level of competition in the Latin American market. The leading vendors are focusing on offering superior aftermarket services to improve customer loyalty and increase their market share. The increase in farm consolidation is encouraging players to introduce higher horsepower tractors, especially in Brazil to boost their revenues in the Latin American market. Free trade policies will encourage international companies to invest in business expansion plans in the Latin American market. The increasing focus on the integration of production, machines, and agronomic data will encourage vendors to introduce technologically advanced agricultural solutions to sustain the competition in the tractor market in Latin America.

The major vendors in the Latin American market are:

  • Deere & Company
  • CNH Industrial
  • AGCO
  • Kubota

Other prominent vendors include SDF, Claas, Argo Tractors, LS Corporation, Mahindra & Mahindra, Agrale, Zetor, Sonalika Group, and Agrinar.

Key market insights include

  1. The analysis of tractor market in Latin America provides market size and growth rate for the forecast period 2018-2023.
  2. It offers comprehensive insights on current industry trends, trend forecast, and growth drivers about the tractor market in Latin America.
  3. The report provides the latest analysis of market share, growth drivers, challenges, and investment opportunities.
  4. It offers a complete overview of market segments and the regional outlook of tractor market in Latin America.
  5. The report offers a detailed overview of the vendor landscape, competitive analysis, and key market strategies to gain competitive advantage.

The tractor market in Latin America is estimated to reach volumes of around 87 thousand units by 2023, growing at a CAGR of over 4% during 2018-2023.

The tractor market in Latin America is driven by increasing investments made by governments and large corporations to improve agricultural solutions in the region. The use of smart technology to intensify production and meet increasing food demand from growing populations without expanding farmland will transform the Latin American market. The market research report provides in-depth market analysis and segmental analysis of the Latin American market by HP type, by wheel drive, and by countries.

Base Year:                  2017

Forecast Year:           2018–2023

The report studies the present scenario of the tractor market in Latin America and its market dynamics for the period 2018−2023. It covers a detailed overview of various market growth enablers, restraints, and trends. The study covers both the supply and demand sides of the market. It also profiles and analyzes the leading companies and various other prominent companies operating in the market.

Major Vendors in the Tractor Market in Latin America

  • Deere & Company
    • Business Overview
    • Deere & Company in the European Market
    • Major Product Offerings
    • Key Strategies
    • Key Strengths
    • Key Opportunities
  • CNH Industrial
  • AGCO
  • Kubota

Prominent Players in the Tractor Market in Latin America

  • SDF
    • Business Overview
    • Product Offerings
  • Claas
  • Argo Tractors
  • LS Corporation
  • Mahindra & Mahindra
  • Agrale
  • Zetor
  • Sonalika Group
  • Agrinar

Market Segmentation by HP Type

  • <40 HP
  • 40-100 HP
  • 100+ HP
  • 4 WD

Market Segmentation by Wheel Drive

  • 2 WD
  • 4 WD

Market Segmentation by Countries

  • Brazil
  • Mexico
  • Argentina

1          Research Methodology

2          Research Objectives

3          Research Process

 

4          Report Coverage

4.1       Tractor Market in Latin America Definition

4.2       Base Year

4.3       Scope of Study

4.3.1   Market Segmentation by HP Type

4.3.2   Market Segmentation by Countries

4.3.3   Segmentation by Wheel Drive

 

5          Report Assumptions & Caveats

5.1       Key Caveats

5.2       Inclusions

5.3       Exclusions

5.4       Currency Conversion

5.5       Tractor Market in Latin America Derivation

 

6          Tractor Market in Latin America at a Glance

 

7          Introduction

7.1       Overview

 

8          Tractor Market in Latin America Dynamics

8.1       Tractor Market in Latin America Growth Enablers

8.1.1   Government Subsidies and Credit Support Systems

8.1.2   Investments by International Manufacturers

8.1.3   Agriculture as Increasing Part of GDP

8.1.4   YOY Impact of Market Growth Enablers

8.2       Tractor Market in Latin America Growth Restraints

8.2.1   Looming Unfavorable Weather Conditions

8.2.2   Fluctuating Commodity and Fertilizer Prices

8.2.3   Growing Usage of Rental Tractors

8.2.4   YOY Impact of Market Growth Restraints

8.3       Tractor Market in Latin America Opportunities & Trends

8.3.1   Growing Prospects of Precision Farming

8.3.2   Increasing Focus on Smart and Autonomous Tractors

8.3.3   YOY Impact of Market Opportunities & Trends

 

9          Agriculture Tractor Market in Latin America

9.1       Historical Data 2010–2016

9.2       Market Size & Forecast 2017–2023

9.3       Porter’s Five Forces Analysis

9.3.1   Threat of New Entrants

9.3.2   Bargaining Power of Suppliers

9.3.3   Bargaining Power of Buyers

9.3.4   Threat of Substitutes

9.3.5   Competitive Rivalry

 

10        Market by Wheel Drive

10.1    Market Overview

10.2    2WD MArket

10.2.1 Market Size & Forecast

10.3    4WD Market

10.3.1 Market Size & Forecast

 

11        Market by HP

11.1    Market Overview

11.2    Below 40 HP

11.2.1 Market Size & Forecast

11.3    40-100 HP

11.3.1 Market Size & Forecast

11.4    Above 100 HP

11.4.1 Market Size & Forecast

11.5    4WD

11.5.1 Market Size & Forecast

 

12        Major Countries: AGRI Market

 

13        Brazil: Market

13.1    Historical Data 2010–2016

13.2    Market Size & Forecast 2017–2023

13.2.1 Investment and Regulatory Outlook in Brazil

13.3    Segmentation by HP

13.3.1 Below 40 HP Tractor: Market Size & Forecast

13.3.2 40-100 HP Tractor: Market Size & Forecast

13.3.3 Above 100 HP Tractor: Market Size & Forecast

13.3.4 4WD Market: Market Size & Forecast

13.4    Market Share Analysis

 

14        Mexico: Market

14.1    Historical Data 2010−2016

14.2    Market Size & Forecast

14.3    Segmentation by HP

14.3.1 Below 40 HP Tractor: Market Size & Forecast

14.3.2 40-100 HP Tractor: Market Size & Forecast

14.3.3 Above 100 HP Tractor: Market Size & Forecast

14.3.4 4WD Market: Market Size & Forecast

14.4    Market Share Analysis

 

15        Argentina: Market

15.1    Historical Data 2010−2016

15.2    Market Size & Forecast

15.3    Segmentation by HP

15.3.1 Below 40 HP Tractor: Market Size & Forecast

15.3.2 40-100 HP Tractor: Market Size & Forecast

15.3.3 Above 100 HP Tractor: Market Size & Forecast

15.3.4 4WD Market: Market Size & Forecast

15.4    Market Share Analysis

 

16        Competitive Landscape

16.1.1 Marketing and Promotional Activities

 

17        Key Company Profiles

17.1    Deere & Company

17.1.1 Business Overview

17.1.2 Deere & Company Tractor Market in Latin America

17.1.3 Major Product Offerings

17.1.4 Key Strategies

17.1.5 Key Strengths

17.1.6 Key Opportunities

17.2    CNH

17.2.1 Business Overview

17.2.2 CNH Tractor Market in Latin America

17.2.3 Major Product Offerings

17.2.4 Key Strategies

17.2.5 Key Strengths

17.2.6 Key Opportunities

17.3    AGCO

17.3.1 Business Overview

17.3.2 AGCO Tractor Market in Latin America

17.3.3 Major Product Offerings

17.3.4 Key Strategies

17.3.5 Key Strengths

17.3.6 Key Opportunities

17.4    Kubota

17.4.1 Business Overview

17.4.2 Kubota Tractor Market in Latin America

17.4.3 Major Product Offerings

17.4.4 Key strategies

17.4.5 Key Strengths

17.4.6 Key Opportunities

 

18        Other Prominent Vendors

18.1    SDF

18.1.1 Business Overview

18.1.2 Product Offerings

18.2    CLASS

18.2.1 Business Overview

18.2.2 Product Offerings

18.3    Argo Tractors

18.3.1 Business Overview

18.3.2 Product Offering

18.4    LS CORP.

18.4.1 Business Overview

18.4.2 Product Offerings

18.5    Mahindra & Mahindra

18.5.1 Business Overview

18.5.2 Product Offerings

18.6    Agrale

18.6.1 Business Overview

18.6.2 Product Offerings

18.7    Zetro Tractors

18.7.1 Business Overview

18.7.2 Product Offering

18.8    Sonalika

18.8.1 Business Overview

18.8.2 Product Offering

18.9    Agrinar

18.9.1 Business Overview

18.9.2 Product Offering

 

19        Report Summary

19.1    Key Takeaways

19.2    Qualitative Summary: Tractor Market in Latin America

19.3    Quantitative Summary: Tractor Market in Latin America

19.3.1 Market by Geography

19.3.2 Market by HP

19.3.3 Market by Wheel Drive

 

20        Appendix

20.1    Abbreviations

 

           

                                   

List of Exhibits       

Exhibit 1         Segmentation of Tractor Market in Latin America

Exhibit 2         Market Size Calculation Approach 2017

Exhibit 3         Tractor Market in Latin America Overview 2017 & 2023 (000 ‘units)

Exhibit 4         Share of Agriculture in Latin America’s Workforce

Exhibit 5         Land Holding Structure in Latin America Economies 2014

Exhibit 6         Precision Agriculture Market in Latin America 2017−2023 ($ million)

Exhibit 7         Agriculture as Part of GDP Latin America 2010−2016 (%)

Exhibit 8         Latin America: Average Price of Commodities ($ per metric ton)

Exhibit 9         Latin America Fertilizer Price Changes

Exhibit 10       Latin America: Number of Cases When Weeds are Resistant to any Herbicide

Exhibit 11       Global Autonomous Market 2017−2023 (units)

Exhibit 12       Tractor Market in Latin America 2010–2016 (000’ units)

Exhibit 13       Tractor Market in Latin America 2017−2023 (000’ units)

Exhibit 14       Tractor Seasonality Sales in Latin America 2017

Exhibit 15       Tractor Market in Latin America 2017 & 2023 (000’ units)

Exhibit 16       Typology of Family Farming

Exhibit 17       Five Forces Analysis 2017

Exhibit 18       Tractor Market in Latin America by Wheel Drive 2017 & 2023 (000’ units)

Exhibit 19       Market by Wheel Drive 2017–2023

Exhibit 20       2WD Market in Latin America 2017–2023 (ooo’ units)

Exhibit 21       2WD Market Share (Changes from 2017 to 2023)

Exhibit 22       4WD Market in Latin America 2017–2023 (000’ units)

Exhibit 23       4WD Drive Segment Market Share Changes 2017 to 2023

Exhibit 24       Tractor Market in Latin America by HP 2017 and 2023 (000’ units)

Exhibit 25       Tractor Market in Latin America by HP 2017–2023

Exhibit 26       Latin America: Below 40HP Market 2017–2023 (000’ units)

Exhibit 27       Latin America: 40-100HP Market 2017–2023 (00o’ units)

Exhibit 28       Latin America: Above 100 HP Market 2017–2023 (000’ units)

Exhibit 29       Latin America: 4WD Tractor Market 2017–2023 (000’ units)

Exhibit 30       Tractor Market in Latin America by Major Countries 2017 and 2023 (units)

Exhibit 31       Market in Brazil 2010–2016 (000’ units)

Exhibit 32       Market in Brazil 2017–2023 (units)

Exhibit 33       Market in Brazil by HP 2017−2023 (000’ units)

Exhibit 34       Below 40 HP Market in US 2017–2023 (000’ units)

Exhibit 35       40-100 HP Market in Brazil 2017–2023 (000’ units)

Exhibit 36       Above 100 HP Market in Brazil 2017–2023 (000’ units)

Exhibit 37       4WD Market in Brazil 2017–2023 (units)

Exhibit 38       Market in Brazil by Leading Players 2017

Exhibit 39       Market in Mexico 2010−2016 (000’ units)

Exhibit 40       Market in Mexico 2017−2023 (units)

Exhibit 41       Market in Mexico by HP 2017−2023 (units)

Exhibit 42       Below 40 HP Market in Mexico 2017–2023 (000’ units)

Exhibit 43       40-100 HP Market in Mexico 2017–2023 (000’ units)

Exhibit 44       Above 100 HP Market in Mexico 2017–2023 (000’ units)

Exhibit 45       4WD Market in Mexico 2017–2023 (000’ units)

Exhibit 46       Market in Mexico by Leading Players 2017 (%)

Exhibit 47       Market in Argentina 2010–2016 (000’ units)

Exhibit 48       Market in Argentina 2017–2023 (000’ units)

Exhibit 49       Market in Argentine by HP 2017–2023 (000’ units)

Exhibit 50       Below40 HP Market in Argentina 2017–2023 (000’ units)

Exhibit 51       40-100 HP Market in Argentina 2017–2023 (000’ units)

Exhibit 52       Above 100 HP Market in Argentina 2017–2023 (000’ units)

Exhibit 53       4WD Market in Argentina 2017–2023 (units)

Exhibit 54       Market in Argentina by Leading Brands 2017

                                   

List of Tables          

Table 1            Key Caveats

Table 2            Currency Conversion 2013−2017

Table 3            YOY Impact of Market Growth Enablers 2017−2023

Table 4            YOY Impact of Market Growth Restraints 2017−2023

Table 5            YOY Impact of Market Opportunities & Trends 2017−2023

Table 6            Farmland Investment Funds by Region and Agricultural Focus 2017

Table 7            Tractor Market in Latin America by Wheel Drive 2017–2023 (units)

Table 8            2 WD Tractor Market in Latin America 2017–2023 (000’ units)

Table 9            4 WD Tractor Market in Latin America 2017–2023 (000’ units)

Table 10         Latin America: Percentage Share of Tractors by Power by Countries 2017

Table 11         Latin America Tractor Sales by HP in Major Countries 2017–2023

Table 12         Below 40HP Tractors in Major Countries 2017–2023 (units)

Table 13         Below 40HP Tractors in Major Countries 2017–2023 (Market Share %)

Table 14         40HP to 100HP Tractor Sales in Major Countries 2017–2023 (units)

Table 15         40HP to 100HP Tractor Sales in Major Countries 2017–2023 (Market Share)

Table 16         100 + HP Tractor Sales in Major Countries 2017–2023 (Units)

Table 17         100 + HP Tractor Sales in Major Countries 2017–2023 (Market Share %)

Table 18         4 WD Tractor Sales in Major Countries 2017–2023 (Units)

Table 19         4 WD Tractor Sales in Major Countries 2017–2023 (Market Share)

Table 20         Market in Brazil 2017−2023 (000’ units)

Table 21         Market in Mexico 2017–2023 (000’ units)

Table 22         Market in Argentina 2017−2023 (000’ units)

Table 23         Major Players Market Share in Latin America 2017

Table 24         Deere & Company: Product Offerings

Table 25         CNH: Product Offerings

Table 26         AGCO: Product Offerings

Table 27         Kubota: Product Offerings

Table 28         Qualitative Summary of Tractor Market in Latin America

Table 29         Quantitative Summary of Tractor Market in Latin America by Geography (000’ units)

Table 30         Quantitative Summary of Tractor Market in Latin America by HP  2017–2023 (000’ units)

Table 31         Quantitative Summary of Tractor Market in Latin America by Below 40 HP  2017–2023 (000’ units)

Table 32         Quantitative Summary of Tractor Market in Latin America by 40 - 100 HP  2017–2023 (000’ units)

Table 33         Quantitative Summary of Tractor Market in Latin America by 100+ HP  2017–2023 (000’ units)

Table 34         Quantitative Summary of Tractor Market in Latin America by 4WD  2017–2023 (000’ units)

Table 35         Quantitative Summary of Tractor Market in Latin America by 2WD  2017–2023 (000’ units)

 

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