China Agricultural Tractors Market Size (2024 - 2029)

China Agricultural Tractors Machinery Market Analysis

The China Agricultural Tractors Market size is estimated at USD 10.20 billion in 2024, and is expected to reach USD 13.80 billion by 2029, growing at a CAGR of 5.60% during the forecast period (2024-2029).

• China stands as the one of world's largest food producers and exporters, boasting the most extensive food reserve systems globally. In 2023, China exported vegetables valued at over USD 17 billion, marking a 9% rise from the prior year, as per ITC Trademap statistics. In parallel, the Chinese government is taking proactive measures to enhance its long-term food security, underscoring the importance of self-reliance in agricultural production through various initiatives. China has intensified its focus on food security in response to volatile global markets, climate change impacts on food sources, and geopolitical challenges. The Chinese government is tackling the challenges associated with the "three rural" (agriculture, rural areas, and farmers), focusing on food security. Policymakers in China, recognize food security as a "top national priority". This heightened emphasis on increasing crop production is poised to boost the nation's agricultural tract market.
• Farm mechanization is gaining traction in China, bolstered by a surge in government-backed initiatives. Under its 'Made in China 2025' initiative, China is targeting a self-sufficiency goal, aiming to produce 90% of its agricultural equipment domestically. Notably, high-end machines, such as agricultural tractors, command a significant one-third share entire agricultural machinery market. This focus on domestic production is propelling the growth of the agricultural tractor market in China.
• China is actively pursuing the development of hydrogen and fuel cell-powered autonomous tractors, signaling a transformative shift in the agricultural tractor market. To enhance the environmental sustainability of agricultural machinery, Chinese companies are making substantial investments in tractor innovation. A notable instance is a tractor co-developed by the Luoyang Research Institute for Intelligent Agricultural Equipment Co., Ltd. (CHIAIC) and Tsinghua University's Tianjin Research Institute for Advanced Equipment, part of the advanced manufacturing industry R&D base. Designed from inception for autonomous operations, this tractor utilizes China Mobile's 5G network, augmented by a GPS antenna, millimeter-wave radar, and advanced data technology for remote functionalities.

China Agricultural Tractors Machinery Industry Segmentation

A tractor is a farm vehicle that is used to pull farm machinery and provide the energy needed for the machinery to work. For this report, tractors used in agricultural operations, especially four-wheeled tractors, have been considered. The report does not cover other agricultural machinery and attachments for tractors. Tractors used for industrial and construction purposes are also excluded from the study. The report covers China Agricultural Tractor Machinery Suppliers and is Segmented by Horsepower (Below 40 HP, 40-100 HP, and Above 100 HP), and Tractor Type (Utility Tractors, Row Crop Tractors, Garden & Orchard Type Tractors, and Other Tractor Types). The report offers market size and forecasts for all the above segments in terms of value (USD).