More than 7,477 Units of Tractors to be Sold in Benelux, In 2022, the 50-100 HP Tractors Recorded High Growth in the Benelux Market
Arizton publishes the latest research report, the Benelux Tractor Market – Industry Analysis & Forecast 2023-2028. The Benelux tractor market witnessed registrations of 6,277 units in 2022, growing at a CAGR of 2.96% during the forecast period.
A new frontier of innovation emerged in Benelux as agriculture met digital technology, opening various paths to a smart agricultural future. Tractor manufacturers are competitive, and companies constantly strive to innovate and ensure product differentiation at affordable prices. State-of-the-art technology-based tractors are available on the market.
The demand for tractors in the Benelux region is primarily driven by the size of the agricultural sector, government support, and technological advances. Farmers often require more powerful and efficient tractors to handle larger fields and increased workloads as farms expand. For instance, government subsidies and support programs for farmers can impact tractor demand. Likewise, advances in tractor technology, such as improved fuel efficiency, GPS systems, and precision farming capabilities, can drive the market as farmers seek more efficient and productive machinery.
The sale of agriculture tractors in the 50–100 HP segment is rising due to the segregation of medium- and large-scale farmlands. Some manufacturers launched a new 50-100 medium HP range of tractors to capitalize on this benefit. In 2022, the largest share of Belgium's agricultural tractor market was held by the 50-100 HP segment, followed by the less than 50 HP segment. Money and time can be saved, and farm yields can be increased by adopting technologically advanced tractors and implements. The Belgium government plans to increase the rate of farm mechanization among farmers, boosting the demand and sales of new tractors.
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The report considers the present scenario of the Benelux 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.
Recent Developments in the Benelux Tractor Market
- In March 2023, John Deere announced MY24 updates for its 7, 8, and 9 Series Tractors lineup that will help prepare them for the future of precision agriculture.
- AGCO launched the latest Fendt 700 Vario series tractors in August 2022, featuring an upgraded powertrain with VarioDrive transmission and Fendt iD low engine speed concept. This new generation aims to enhance efficiency and productivity for customers.
- In June 2022, The CLAAS AXION 900 series of large tractors for contractors and big farms, the new AXION 900 series, is equipped as standard with the updated, continuously variable ZF Terramatic transmission.
- John Deere launched the new electric variable transmission (EVT) in March 2022 for select 8 Series Tractors and a new JD14X engine for 9 Series.
- Massey Ferguson launched the MF 6S series tractors in February 2022. This machine provides up to 180 HP with advanced technology.
The Belgian tractor market comprises various stakeholders, including manufacturers, dealerships, distributors, and end-users. Several international and domestic tractor manufacturers operate in Belgium, offering various tractor models with different specifications and features. Some well-known tractor brands available in Belgium include John Deere, New Holland, Case IH, Massey Ferguson, and Fendt.
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Key Questions Answered in the Report
- What are the expected units sold in the Benelux tractor market by 2028?
- What is the growth rate of the Benelux tractor market?
- How big is the Benelux tractor market?
- Which region holds the largest Benelux tractor market share?
- Who are the key companies in the Benelux tractor market?
Check the detailed table of contents of the report @ https://www.arizton.com/market-reports/benelux-tractor-market?details=tableOfContents
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