Global Internal Combustion Engine Agricultural Tractor Market was valued at USD 8 Billion in 2022 and is projected to reach USD 12 Billion by 2030, growing at a CAGR of 5.2% from 2024 to 2030.
The internal combustion engine agricultural tractor market is experiencing significant growth, driven by the global demand for efficient farming equipment. In 2023, the market was valued at approximately USD 800 billion and is projected to reach USD 1,125.68 billion by 2031, reflecting a compound annual growth rate (CAGR) of 5% from 2024 to 2031.
Several factors contribute to this upward trend:
Population Growth: The increasing global population necessitates higher agricultural output, leading to a greater need for reliable tractors.
Technological Advancements: Modern tractors equipped with advanced features enhance productivity and efficiency on farms.
Government Support: Subsidies and incentives encourage farmers to invest in new machinery, bolstering market growth.
In my experience working with farmers in India, I've observed a strong preference for 30-50 HP tractors. This segment dominates the Indian market, accounting for about 86% of sales in 2024, and is expected to grow at a rate of around 7% during 2024-2029. These tractors offer an optimal balance of power and affordability, making them ideal for small to medium-sized farms.
Globally, the market is segmented by type and application:
Type: 2WD and 4WD tractors
Application: Harvesting, seed sowing, spraying, and others
Each segment caters to specific agricultural needs, ensuring that farmers can select equipment best suited to their operations.
However, the market faces challenges, including fluctuating raw material prices and stringent emission regulations. Additionally, the emergence of electric tractors presents competition, pushing manufacturers to innovate continually.
Despite these challenges, the internal combustion engine agricultural tractor market remains robust. The combination of technological advancements, supportive government policies, and the essential role of tractors in agriculture ensures sustained demand. As the industry evolves, stakeholders must stay informed and adaptable to maintain growth and meet the changing needs of the farming community.
Get an In-Depth Research Analysis of the Global Internal Combustion Engine Agricultural Tractor Market Size And Forecast [2025-2032]
Deere Company
Mahindra Group
Kubota Corporation
Yanmar
Massey Ferguson
Farmtac
Dongfeng
Kioti Tractor
New Holland
SDF Group
Valtra Tractor
Argo Tractors S.p.A.
CNH Industrial N.V.
CLAAS Agricultural Machinery Private Limited.
Eicher Motors Limited.
Escorts Limited.
Force Motors Limited
Mahindra
International Tractors Limited. (Sonalika)
TAFE Limited.
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the Global Internal Combustion Engine Agricultural Tractor Market
Harvesting
Seed Sowing
Spraying
Others
Based on Types the Market is categorized into Below types that held the largest Internal Combustion Engine Agricultural Tractor market share In 2023.
2WD
4WD
Global (United States, Global and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Global, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the Global Internal Combustion Engine Agricultural Tractor Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Global Internal Combustion Engine Agricultural Tractor Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global Internal Combustion Engine Agricultural Tractor Market, By Type
6. Global Internal Combustion Engine Agricultural Tractor Market, By Application
7. Global Internal Combustion Engine Agricultural Tractor Market, By Geography
Global
Europe
Asia Pacific
Rest of the World
8. Global Internal Combustion Engine Agricultural Tractor Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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