The Middle East and Africa tractor market is expected to grow at a CAGR of 4.77% from 2022-2028.
KEY HIGHLIGHTS
The Middle East & Africa has over 578 million food consumers. The region witnessed a massive increase in farm mechanization in terms of agricultural and industrial productivity.
The Middle East and Africa tractor market is highly concentrated, with the top players controlling most of the market. Domestic and global brands, on the other hand, are equally represented in the industry.
The Middle East and Africa tractor market increased by 4.0% in 2022 from 2021. The increase in crop production and tractor sales was due to favorable climate conditions and government support to farmers.
Several Middle East & African countries' governments plan to double the number of agricultural products and revenue from exporting these products by 2030.
The Middle East & African government plans schemes and initiatives to facilitate credit and improve agriculture-related operations, which will contribute to the growth of the overall value chain of the industry.
MARKET TRENDS & OPPORTUNITIES
Use of Energy-efficient Agri Equipment
The Middle East & African countries' governments aim to improve the living conditions of those in the agricultural supply chain and to provide essential equipment sustainably. This aim joins an already announced objective to reduce total greenhouse gas (GHG) emissions by 30-40% by 2030 and zero emissions by 2040. The adoption of energy-efficient agricultural equipment will enable the fulfillment of these objectives.
Technological Advances in Tractor Technology
A new frontier of innovation emerged 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 currently available in the market. GPS and remote sensing make farming more accurate and productive.
COMPETITIVE LANDSCAPE
John Deere, New Holland, Massey Ferguson, and Mahindra dominated the Middle East and Africa tractor market with a collective industry share of over 40% in 2022. These brands have adopted several strategies to gain traction in the industry. These players are thriving on innovation in the tractor industry. They are increasingly investing in developing advanced agricultural tractor technology for precision farming and machine automation.
Key Company Profiles
John Deere
CNH Industrial
AGCO
Kubota
Other Prominent Vendors
Mahindra
Deutz-Fahr
Claas
TAFE
V.S.T. Tillers Tractors Limited
ISEKI & Co., Ltd.
KIOTI
Escorts
Yanmar
Recent Developments
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.
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.
In February 2022, New Holland North America, CNH industrial brand, announced the launch of the world's first production T6 Methane Power tractor in the US.
CNH Industrial partnered with Monarch Tractors in March 2021, a US-based agri-technology company, to improve long-term sustainability and raise awareness of the importance of zero-emission agriculture among farmers.
KEY QUESTIONS ANSWERED:
What are the expected units sold in the Middle East and Africa tractor market by 2028?
What is the growth rate of the Middle East and Africa tractor market?
How big is the Middle East and Africa tractor market?
Who are the key companies in the Middle East and Africa tractor market?
Which region holds the largest Middle East and Africa tractor market share?
Key Attributes:
Report Attribute
Details
No. of Pages
162
Forecast Period
2022 - 2028
Estimated Market Value in 2022
83146 Units
Forecasted Market Value by 2028
109974 Units
Compound Annual Growth Rate
4.7%
Regions Covered
Africa, Middle East
Key Topics Covered:
1 Research Methodology
2 Research Objectives
3 Research Process
4 Scope & Coverage 4.1 Market Definition 4.1.1 Inclusions 4.1.2 Exclusions 4.1.3 Market Estimation Caveats 4.2 Base Year 4.3 Scope of the Study
8 Introduction 8.1 Overview 8.1 Value Chain Analysis 8.1.1 Overview 8.1.2 Raw Material & Component Suppliers 8.1.3 Manufacturers 8.1.4 Dealers/Distributors 8.1.5 Retailers 8.1.6 End-Users 8.2 Technological Advances
9 Market Opportunities & Trends 9.1 Technological Advances in Tractor Technology 9.1.1 Swath Control and Variable Rate Technology 9.1.2 High Demand for Autonomous Equipment 9.2 Shortage of Agricultural Laborers 9.3 Use of Energy-Efficient Agri Tractors
11 Market Restraints 11.1 Lack of Awareness of Latest Innovations in Agricultural Tractor 11.1.1 Low Levels of Education Among Farmers in Emerging Countries 11.1.2 Resource Scarcity of Small and Medium Farmers 11.2 High Demand for Used & Rental Tractors 11.3 Climate Change Adversely Affecting Agricultural Activities
12 Market Landscape 12.1 Market Overview 12.2 Market Size & Forecast 12.3 Five Forces Analysis 12.3.1 Threat of New Entrants 12.3.2 Bargaining Power of Suppliers 12.3.3 Bargaining Power of Buyers 12.3.4 Threat of Substitutes 12.3.5 Competitive Rivalry
13 Horsepower 13.1 Market Snapshot & Growth Engine 13.2 Market Overview 13.3 Less Than 50 Hp 13.3.1 Market Overview 13.3.2 Market Size & Forecast 13.3.3 Market by Geography 13.4 50 Hp-100 Hp 13.4.1 Market Overview 13.4.2 Market Size & Forecast 13.4.3 Market by Geography 13.5 Above 100 Hp 13.5.1 Market Overview 13.5.2 Market Size & Forecast 13.5.3 Market by Geography
About ResearchAndMarkets.com ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
