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REPORT OUTLOOK
| Market Size | CAGR | Dominating Region |
|---|---|---|
| USD 23.9 billion | 7.3% | Asia Pacific |
| By Engine Power | by Region |
|---|---|
|
|
SCOPE OF THE REPORT
Tractor Engines Market Overview
The global tractor engine market size is estimated at USD 12.7 billion in 2020 and is projected to reach USD 23.9 billion by 2029, at a CAGR of 7.3% for the forecasted years 2022 to 2029.
Tractor engines are specialized internal combustion engines meticulously engineered to power heavy-duty agricultural vehicles known as tractors, essential for a myriad of farming tasks including plowing, tilling, planting, and hauling. Typically fueled by diesel due to their superior torque output and fuel efficiency, although certain models may utilize gasoline or alternative fuels, these engines are designed to deliver consistent and dependable performance amidst heavy workloads and diverse operational conditions encountered in agricultural environments. Recognized for their sturdy construction, efficient cooling systems, and tailored power output to meet the demands of contemporary agricultural machinery, tractor engines are indispensable components in modern farming practices.
The Tractor Engines market is witnessing dynamic trends influenced by a confluence of factors such as technological innovations, surging demand for mechanization in agriculture, and evolving regulatory standards. The pursuit of heightened efficiency, improved fuel economy, and diminished emissions is fueling the uptake of cutting-edge engine technologies like turbocharging, electronic fuel injection, and hybrid power systems. Furthermore, the burgeoning adoption of precision agriculture and autonomous farming is fostering demand for engines integrated with connectivity features and data analytics capabilities.
The global regulatory landscape governing the Tractor Engines Market is multifaceted, characterized by an array of regulations and standards that vary across different regions and countries. Regulatory entities such as the United States Environmental Protection Agency (EPA), the European Commission within the European Union (EU), and analogous agencies worldwide wield significant influence in setting emissions standards, safety protocols, and performance criteria for tractor engines. Adherence to regulations such as the EPA’s Tier 4 Final standards or the EU’s Stage V emissions regulations holds paramount importance for market access and ensuring compliance with environmental directives.
Tractor Engines Market Segment Analysis
Tractor Engine market is broadly classified into engine power and region. On the basis of engine power, the market is further bifurcated into high power and low power. The high-power segment is anticipated to grow at a higher CAGR owing to greater demand for medium-duty tractors in the Asia Pacific region, which holds the largest share of the agricultural tractor market.
The demand for high-performance tractors is particularly high in Europe and North America and are likely to show significant growth in these regions over the forecast period.
Tractor Engines Market Players
Caterpillar Inc., CNH Industrial NV, Cummins Inc., Deere and Co., Escorts Ltd., Kohler Co., Mahindra and Mahindra Ltd., Sonalika International Tractors Ltd., Volkswagen AG, and Yanmar Holdings Co. Ltd. Also, the tractor engines market analysis report includes information on upcoming trends and challenges that will influence market growth.
- Caterpillar Inc. is an American Fortune 100 corporation that designs, develops, engineers, manufactures, markets, and sells machinery, engines, financial products, and insurance to customers via a worldwide dealer network.
- CNH Industrial NV (CNH) is a capital goods company. It designs, produces, markets, sells and finances commercial vehicles, buses and specialty vehicles and axles for these vehicles; and engines for marine and power generation applications.
- Cummins Inc. is an American multinational corporation that designs, manufactures, and distributes engines, filtration, and power generation products.
Who Should Buy? Or Key stakeholders
- Automotive Industry
- Mechanical Industry
- Transportation Industry
- Scientific Research and Development
- Investors
- Manufacturing companies
- Scientific Research and Development
- End-user companies
- Others
Key Takeaways:
- The global tractor engine market is estimated to grow at a CAGR of 7.3% for the forecasted years.
- On the basis of engine power, the high-power segment is anticipated to grow at a higher CAGR.
- The regional share for the market is dominated by APAC region.
- Over the forecast period, key manufacturers’ R&D spending to create advanced machinery for tractor engines is expected to expand.
- The tractor engines market is experiencing a shift towards hybrid and electric powertrains driven by sustainability and efficiency demands.
Tractor Engines Market Regional Analysis
The global tractor engine market by region includes North America, Asia-Pacific (APAC), Europe, South America, and Middle East & Africa (MEA).
- North America: includes the US, Canada, Mexico
- Asia Pacific: includes China, Japan, South Korea, India, Australia, ASEAN and Rest of APAC
- Europe: includes UK, Germany, France, Italy, Spain, Russia, and Rest of Europe
- South America: includes Brazil, Argentina and Rest of South America
- Middle East & Africa: includes Turkey, UAE, Saudi Arabia, South Africa, and Rest of MEA
Growth in agricultural activities such as farming and cultivation, among others, characterizes the Asia Pacific market, which stimulates demand for agricultural equipment and, in turn, augments the market for tractor engines. Furthermore, India and China are two of the world’s largest tractor markets, with government initiatives geared at increasing agricultural machinery used in the coming years. These factors are to account for Asia Pacific’s dominance in the tractor engine market.
Key Market Segments: Global Tractor Engines Market
Tractor Engines Market By Engine Power, 2020-2029, (USD Million) (Thousand Units)
- Low Power Engine
- High Power Engine
Tractor Engines Market by Region, 2020-2029, (USD Million) (Thousand Units)
- North America
- Europe
- Asia Pacific
- South America
- Middle East And Africa
Important Countries In All Regions Are Covered.
Key Question Answered
- What are the growth opportunities related to the adoption of tractor engines across major regions in the future?
- What are the new trends and advancements in the tractor engines market?
- Which product categories are expected to have the highest growth rate in the tractor engines market?
- Which are the key factors driving the tractor engines market?
- What will the market growth rate, growth momentum, or acceleration the market carries during the forecast period?
Table of Content
- INTRODUCTION
- MARKET DEFINITION
- MARKET SEGMENTATION
- RESEARCH TIMELINES
- ASSUMPTIONS AND LIMITATIONS
- RESEARCH METHODOLOGY
- DATA MINING
- SECONDARY RESEARCH
- PRIMARY RESEARCH
- SUBJECT-MATTER EXPERTS’ ADVICE
- QUALITY CHECKS
- FINAL REVIEW
- DATA TRIANGULATION
- BOTTOM-UP APPROACH
- TOP-DOWN APPROACH
- RESEARCH FLOW
- DATA SOURCES
- DATA MINING
- EXECUTIVE SUMMARY
- MARKET OVERVIEW
- GLOBAL TRACTOR ENGINES MARKET OUTLOOK
- MARKET DRIVERS
- MARKET RESTRAINTS
- MARKET OPPORTUNITIES
- IMPACT OF COVID-19 ON TRACTOR ENGINES MARKET
- PORTER’S FIVE FORCES MODEL
- THREAT FROM NEW ENTRANTS
- THREAT FROM SUBSTITUTES
- BARGAINING POWER OF SUPPLIERS
- BARGAINING POWER OF CUSTOMERS
- DEGREE OF COMPETITION
- INDUSTRY VALUE CHAIN ANALYSIS
- GLOBAL TRACTOR ENGINES MARKET OUTLOOK
- GLOBAL TRACTOR ENGINES MARKET BY ENGINE POWER (USD MILLIONS) (THOUSAND UNITS)
- LOW POWER ENGINE
- HIGH POWER ENGINE
- GLOBAL TRACTOR ENGINES MARKET BY REGION (USD MILLIONS) (THOUSAND UNITS)
- NORTH AMERICA
- US
- CANADA
- MEXICO
- SOUTH AMERICA
- BRAZIL
- ARGENTINA
- COLOMBIA
- REST OF SOUTH AMERICA
- EUROPE
- GERMANY
- UK
- FRANCE
- ITALY
- SPAIN
- RUSSIA
- REST OF EUROPE
- ASIA PACIFIC
- INDIA
- CHINA
- JAPAN
- SOUTH KOREA
- AUSTRALIA
- SOUTH-EAST ASIA
- REST OF ASIA PACIFIC
- MIDDLE EAST AND AFRICA
- UAE
- SAUDI ARABIA
- SOUTH AFRICA
- REST OF THE MIDDLE EAST AND AFRICA
- NORTH AMERICA
- COMPANY PROFILES* (BUSINESS OVERVIEW, COMPANY SNAPSHOT, PRODUCTS OFFERED, RECENT DEVELOPMENTS)
- CATERPILLAR INC.
- CNH INDUSTRIAL NV
- CUMMINS INC.
- DEERE AND CO.
- ESCORTS LTD.
- KOHLER CO.
- MAHINDRA AND MAHINDRA LTD.
- SONALIKA INTERNATIONAL TRACTORS LTD.
- VOLKSWAGEN AG
- YANMAR HOLDINGS CO. LTD *THE COMPANY LIST IS INDICATIVE
LIST OF TABLES
TABLE 1Â Â Â Â Â Â Â Â Â GLOBAL TRACTOR ENGINE MARKET BY ENGINE POWER (USD MILLIONS) 2020-2029
TABLE 2Â Â Â Â Â Â Â Â Â GLOBAL TRACTOR ENGINE MARKET BY ENGINE POWER (THOUSAND UNITS) 2020-2029
TABLE 3Â Â Â Â Â Â Â Â Â GLOBAL TRACTOR ENGINE MARKET BY REGION (USD MILLIONS) 2020-2029
TABLE 4Â Â Â Â Â Â Â Â Â GLOBAL TRACTOR ENGINE MARKET BY REGION (THOUSAND UNITS) 2020-2029
TABLE 5Â Â Â Â Â Â Â Â Â US TRACTOR ENGINE MARKET BY ENGINE POWER (USD MILLIONS) 2020-2029
TABLE 6Â Â Â Â Â Â Â Â US TRACTOR ENGINE MARKET BY ENGINE POWER (THOUSAND UNITS) 2020-2029
TABLE 7Â Â Â Â Â Â Â Â CANADA TRACTOR ENGINE MARKET BY ENGINE POWER (USD MILLIONS) 2020-2029
TABLE 8Â Â Â Â Â Â Â Â CANADA TRACTOR ENGINE MARKET BY ENGINE POWER (THOUSAND UNITS) 2020-2029
TABLE 9Â Â Â Â Â Â Â Â MEXICO TRACTOR ENGINE MARKET BY ENGINE POWER (USD MILLIONS) 2020-2029
TABLE 10Â Â Â Â Â Â Â Â Â Â Â Â Â MEXICO TRACTOR ENGINE MARKET BY ENGINE POWER (THOUSAND UNITS) 2020-2029
TABLE 11Â Â Â Â Â Â Â Â Â Â Â Â Â BRAZIL TRACTOR ENGINE MARKET BY ENGINE POWER (USD MILLIONS) 2020-2029
TABLE 12Â Â Â Â Â Â Â Â Â Â Â Â Â BRAZIL TRACTOR ENGINE MARKET BY ENGINE POWER (THOUSAND UNITS) 2020-2029
TABLE 13Â Â Â Â Â Â Â Â Â Â Â Â Â ARGENTINA TRACTOR ENGINE MARKET BY ENGINE POWER (USD MILLIONS) 2020-2029
TABLE 14Â Â Â Â Â Â Â Â Â Â Â Â Â ARGENTINA TRACTOR ENGINE MARKET BY ENGINE POWER (THOUSAND UNITS) 2020-2029
TABLE 15Â Â Â Â Â Â Â Â Â Â Â Â Â COLOMBIA TRACTOR ENGINE MARKET BY ENGINE POWER (USD MILLIONS) 2020-2029
TABLE 16Â Â Â Â Â Â Â Â Â Â Â Â Â COLOMBIA TRACTOR ENGINE MARKET BY ENGINE POWER (THOUSAND UNITS) 2020-2029
TABLE 17Â Â Â Â Â Â Â Â Â Â Â Â Â REST OF SOUTH AMERICA TRACTOR ENGINE MARKET BY ENGINE POWER (USD MILLIONS) 2020-2029
TABLE 18Â Â Â Â Â Â Â Â Â Â Â Â Â REST OF SOUTH AMERICA TRACTOR ENGINE MARKET BY ENGINE POWER (THOUSAND UNITS) 2020-2029
TABLE 19Â Â Â Â Â Â Â Â Â Â Â Â Â INDIA TRACTOR ENGINE MARKET BY ENGINE POWER (USD MILLIONS) 2020-2029
TABLE 20Â Â Â Â Â Â Â Â Â Â Â Â Â INDIA TRACTOR ENGINE MARKET BY ENGINE POWER (THOUSAND UNITS) 2020-2029
TABLE 21Â Â Â Â Â Â Â Â Â Â Â Â Â CHINA TRACTOR ENGINE MARKET BY ENGINE POWER (USD MILLIONS) 2020-2029
TABLE 22Â Â Â Â Â Â Â Â Â Â Â Â Â CHINA TRACTOR ENGINE MARKET BY ENGINE POWER (THOUSAND UNITS) 2020-2029
TABLE 23Â Â Â Â Â Â Â Â Â Â Â Â Â JAPAN TRACTOR ENGINE MARKET BY ENGINE POWER (USD MILLIONS) 2020-2029
TABLE 24Â Â Â Â Â Â Â Â Â Â Â Â Â JAPAN TRACTOR ENGINE MARKET BY ENGINE POWER (THOUSAND UNITS) 2020-2029
TABLE 25Â Â Â Â Â Â Â Â Â Â Â Â Â SOUTH KOREA TRACTOR ENGINE MARKET BY ENGINE POWER (USD MILLIONS) 2020-2029
TABLE 26Â Â Â Â Â Â Â Â Â Â Â Â Â SOUTH KOREA TRACTOR ENGINE MARKET BY ENGINE POWER (THOUSAND UNITS) 2020-2029
TABLE 27Â Â Â Â Â Â Â Â Â Â Â Â Â AUSTRALIA TRACTOR ENGINE MARKET BY ENGINE POWER (USD MILLIONS) 2020-2029
TABLE 28Â Â Â Â Â Â Â Â Â Â Â Â Â AUSTRALIA TRACTOR ENGINE MARKET BY ENGINE POWER (THOUSAND UNITS) 2020-2029
TABLE 29Â Â Â Â Â Â Â Â Â Â Â Â Â SOUTH-EAST ASIA TRACTOR ENGINE MARKET BY ENGINE POWER (USD MILLIONS) 2020-2029
TABLE 30Â Â Â Â Â Â Â Â Â Â Â Â Â SOUTH-EAST ASIA TRACTOR ENGINE MARKET BY ENGINE POWER (THOUSAND UNITS) 2020-2029
TABLE 31Â Â Â Â Â Â Â Â Â Â Â Â Â REST OF ASIA PACIFIC TRACTOR ENGINE MARKET BY ENGINE POWER (USD MILLIONS) 2020-2029
TABLE 32Â Â Â Â Â Â Â Â Â Â Â Â Â REST OF ASIA PACIFIC TRACTOR ENGINE MARKET BY ENGINE POWER (THOUSAND UNITS) 2020-2029
TABLE 33Â Â Â Â Â Â Â Â Â Â Â Â Â GERMANY TRACTOR ENGINE MARKET BY ENGINE POWER (USD MILLIONS) 2020-2029
TABLE 34Â Â Â Â Â Â Â Â Â Â Â Â Â GERMANY TRACTOR ENGINE MARKET BY ENGINE POWER (THOUSAND UNITS) 2020-2029
TABLE 35Â Â Â Â Â Â Â Â Â Â Â Â Â UK TRACTOR ENGINE MARKET BY ENGINE POWER (USD MILLIONS) 2020-2029
TABLE 36Â Â Â Â Â Â Â Â Â Â Â Â Â UK TRACTOR ENGINE MARKET BY ENGINE POWER (THOUSAND UNITS) 2020-2029
TABLE 37Â Â Â Â Â Â Â Â Â Â Â Â Â FRANCE TRACTOR ENGINE MARKET BY ENGINE POWER (USD MILLIONS) 2020-2029
TABLE 38Â Â Â Â Â Â Â Â Â Â Â Â Â FRANCE TRACTOR ENGINE MARKET BY ENGINE POWER (THOUSAND UNITS) 2020-2029
TABLE 39Â Â Â Â Â Â Â Â Â Â Â Â Â ITALY TRACTOR ENGINE MARKET BY ENGINE POWER (USD MILLIONS) 2020-2029
TABLE 40Â Â Â Â Â Â Â Â Â Â Â Â Â ITALY TRACTOR ENGINE MARKET BY ENGINE POWER (THOUSAND UNITS) 2020-2029
TABLE 41Â Â Â Â Â Â Â Â Â Â Â Â Â SPAIN TRACTOR ENGINE MARKET BY ENGINE POWER (USD MILLIONS) 2020-2029
TABLE 42Â Â Â Â Â Â Â Â Â Â Â Â Â SPAIN TRACTOR ENGINE MARKET BY ENGINE POWER (THOUSAND UNITS) 2020-2029
TABLE 43Â Â Â Â Â Â Â Â Â Â Â Â Â RUSSIA TRACTOR ENGINE MARKET BY ENGINE POWER (USD MILLIONS) 2020-2029
TABLE 44Â Â Â Â Â Â Â Â Â Â Â Â Â RUSSIA TRACTOR ENGINE MARKET BY ENGINE POWER (THOUSAND UNITS) 2020-2029
TABLE 45Â Â Â Â Â Â Â Â Â Â Â Â Â REST OF EUROPE TRACTOR ENGINE MARKET BY ENGINE POWER (USD MILLIONS) 2020-2029
TABLE 46Â Â Â Â Â Â Â Â Â Â Â Â Â REST OF EUROPE TRACTOR ENGINE MARKET BY ENGINE POWER (THOUSAND UNITS) 2020-2029
TABLE 47Â Â Â Â Â Â Â Â Â Â Â Â Â UAE TRACTOR ENGINE MARKET BY ENGINE POWER (USD MILLIONS) 2020-2029
TABLE 48Â Â Â Â Â Â Â Â Â Â Â Â Â UAE TRACTOR ENGINE MARKET BY ENGINE POWER (THOUSAND UNITS) 2020-2029
TABLE 49Â Â Â Â Â Â Â Â Â Â Â Â Â SAUDI ARABIA TRACTOR ENGINE MARKET BY ENGINE POWER (USD MILLIONS) 2020-2029
TABLE 50Â Â Â Â Â Â Â Â Â Â Â Â Â SAUDI ARABIA TRACTOR ENGINE MARKET BY ENGINE POWER (THOUSAND UNITS) 2020-2029
TABLE 51Â Â Â Â Â Â Â Â Â Â Â Â Â SOUTH AFRICA TRACTOR ENGINE MARKET BY ENGINE POWER (USD MILLIONS) 2020-2029
TABLE 52Â Â Â Â Â Â Â Â Â Â Â Â Â SOUTH AFRICA TRACTOR ENGINE MARKET BY ENGINE POWER (THOUSAND UNITS) 2020-2029
TABLE 53Â Â Â Â Â Â Â Â Â Â Â Â Â REST OF MIDDLE EAST AND AFRICA TRACTOR ENGINE MARKET BY ENGINE POWER (USD MILLIONS) 2020-2029
TABLE 54Â Â Â Â Â Â Â Â Â Â Â Â Â REST OF MIDDLE EAST AND AFRICA TRACTOR ENGINE MARKET BY ENGINE POWER (THOUSAND UNITS) 2020-2029
LIST OF FIGURES
FIGURE 1Â Â Â Â Â Â Â MARKET DYNAMICS
FIGURE 2Â Â Â Â Â Â Â MARKET SEGMENTATION
FIGURE 3Â Â Â Â Â Â Â REPORT TIMELINES: YEARS CONSIDERED
FIGURE 4Â Â Â Â Â Â Â DATA TRIANGULATION
FIGURE 5Â Â Â Â Â Â Â BOTTOM-UP APPROACH
FIGURE 6Â Â Â Â Â Â Â TOP-DOWN APPROACH
FIGURE 7Â Â Â Â Â Â Â RESEARCH FLOW
FIGURE 8Â Â Â Â Â Â Â GLOBAL TRACTOR ENGINES MARKET BY ENGINE POWER, USD MILLION, 2020-2029
FIGURE 9Â Â Â Â Â Â Â GLOBAL TRACTOR ENGINES MARKET BY REGION, USD MILLION, 2020-2029
FIGURE 10    PORTER’S FIVE FORCES MODEL
FIGURE 11Â Â Â Â NORTH AMERICA TRACTOR ENGINES MARKET SNAPSHOT
FIGURE 12Â Â Â Â EUROPE TRACTOR ENGINES MARKET SNAPSHOT
FIGURE 13Â Â Â Â ASIA PACIFIC TRACTOR ENGINES MARKET SNAPSHOT
FIGURE 14Â Â Â Â SOUTH AMERICA TRACTOR ENGINES MARKET SNAPSHOT
FIGURE 15Â Â Â Â MIDDLE EAST & AFRICA TRACTOR ENGINES MARKET SNAPSHOT
FIGURE 16Â Â Â Â CATERPILLAR INC.: COMPANY SNAPSHOT
FIGURE 17Â Â Â Â CNH INDUSTRIAL NV: COMPANY SNAPSHOT
FIGURE 18Â Â Â Â CUMMINS INC.: COMPANY SNAPSHOT
FIGURE 19Â Â Â Â DEERE AND CO.: COMPANY SNAPSHOT
FIGURE 20Â Â Â Â ESCORTS LTD.: COMPANY SNAPSHOT
FIGURE 21Â Â Â Â KOHLER CO.: COMPANY SNAPSHOT
FIGURE 22Â Â Â Â MAHINDRA AND MAHINDRA LTD.: COMPANY SNAPSHOT
FIGURE 23Â Â Â Â SONALIKA INTERNATIONAL TRACTORS LTD.: COMPANY SNAPSHOT
FIGURE 24Â Â Â Â VOLKSWAGEN AG: COMPANY SNAPSHOT
FIGURE 25Â Â Â Â YANMAR HOLDINGS CO. LTD: COMPANY SNAPSHOT
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