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Europe Utility Tractor Market Size (2024 - 2029)

The Europe Utility Tractor Market is experiencing growth driven by factors such as rising labor costs and increased agricultural income, which are influencing the market size in the region. The shortage of farm labor has led to a higher adoption of compact utility tractors by small-scale farmers, as these tractors are more affordable and smaller compared to traditional agricultural tractors. Germany, France, and Italy represent significant portions of the market share for utility tractor sales in Europe.

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Market Size of Europe Utility Tractor Industry

Europe Utility Tractor Market Size
Study Period 2019 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
Historical Data Period 2019 - 2022
CAGR 2.80 %
Market Concentration High

Major Players

Europe Utility Tractor Market Key Players

*Disclaimer: Major Players sorted in no particular order

Europe Utility Tractor Market Analysis

Europe Utility Tractor Market is projected to grow at a CAGR of 2.8% during the forecast period (2020-2025). The rise in labor cost and increase in agricultural factor income are some of the factors driving the market for utility tractors in the region. An acute shortage of farm labor has currently surfaced on the farm fields in the region. Compact utility tractors (40HP-70HP) are being increasingly adopted by small-scale farmers as they are much smaller in size than the average agricultural tractors and are priced much lower. In Europe, Germany France, and Italy are the largest markets for utility tractor sales in the region which account for a major share in this segment in the region.

Europe Utility Tractor Industry Segmentation

For the purpose of this report, the tractors used in agricultural operations between 35 HP-100 HP, especially four-wheeled tractors, have been considered. The report does not cover other agricultural machinery and attachments to tractors. Tractors used for industrial and construction purposes are also excluded from the study.

Geography
Germany
United Kingdom
France
Spain
Italy
Rest of Europe
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Europe Utility Tractor Market Size Summary

The European utility tractor market is experiencing a steady growth trajectory, driven by factors such as rising labor costs and increased agricultural income. The region is witnessing a significant shift towards farm mechanization due to a shortage of farm labor, which has led to higher wage rates. This has prompted farmers to adopt compact utility tractors, which are smaller and more affordable than traditional agricultural tractors, making them particularly appealing to small-scale farmers. Germany, France, and Italy are the leading markets within Europe, accounting for a substantial portion of utility tractor sales. The market is further bolstered by technological advancements in farming equipment, which are transforming agricultural practices across the continent.

The competitive landscape of the European utility tractor market is characterized by the presence of both local and international players, including prominent companies like CLAAS KGaA mbH, Deere & Company, and AGCO Corporation. These companies are actively expanding their operations to enhance their market positions. Germany stands out as a key player in the production of agricultural machinery, contributing significantly to the region's market share. The preference for compact and customized tractors is driven by the smaller size of farmlands in Europe, and the involvement of major international brands such as John Deere, Kubota Corporation, and CLAAS KGaA mbH is further propelling market growth.

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Europe Utility Tractor Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Market Overview

    2. 1.2 Market Drivers

    3. 1.3 Market Restraints

    4. 1.4 Porter's Five Forces Analysis

      1. 1.4.1 Bargaining Power of Suppliers

      2. 1.4.2 Bargaining Power of Buyers

      3. 1.4.3 Threat of New Entrants

      4. 1.4.4 Threat of Substitute Products and Services

      5. 1.4.5 Intensity of Competitive Rivalry

  2. 2. MARKET SEGMENTATION

    1. 2.1 Geography

      1. 2.1.1 Germany

      2. 2.1.2 United Kingdom

      3. 2.1.3 France

      4. 2.1.4 Spain

      5. 2.1.5 Italy

      6. 2.1.6 Rest of Europe

Europe Utility Tractor Market Size FAQs

The Europe Utility Tractor Market is projected to register a CAGR of 2.80% during the forecast period (2024-2029)

Deere & Company, CNH Global NV, CLAAS KGaA mbH and Kubota Corporation are the major companies operating in the Europe Utility Tractor Market.

Europe Utility Tractor Report Snapshots

Europe Utility Tractor Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)