Dublin, Nov. 22, 2022 (GLOBE NEWSWIRE) -- The "Australia Tractors Market - Industry Analysis & Forecast 2022-2028" report has been added to ResearchAndMarkets.com's offering.
The Australia tractors market is expected to grow at a CAGR of 3.43% during 2022-2028.
Australia has over 25.8 million food consumers and is one of the largest food markets in Oceania. The country has witnessed a massive increase in farm mechanization in terms of agricultural and industrial productivity. In 2021, the 50-100 HP segment accounted for the largest share due to flexible operation capabilities.
The Government schemes and initiatives to facilitate credit and improve agriculture-related operations are the major drivers contributing to the Australian agricultural tractors market growth. In September 2020, the country's agricultural ministry announced the national agricultural innovation policy statement, an essential component of the Australian Government's National Agricultural Innovation Agenda. A world-class agricultural innovation system is a priority for the Australian government and a key component of Delivering Ag2030, which supports the industry's target of a USD 100 billion sector by 2030.
The Australian agriculture tractor market grew by 33.3% in 2021 compared to 2020. The increase in crop production and tractor sales was due to favorable monsoon rains in 2020 and 2021, which helped to recover post-COVID-19 pandemic
Regarding agricultural acreage, the country is one of the second largest countries in the APAC region. Arable land covers 30.9 million hectares of the total land in the country and makes it a growing market.
With the share of agricultural exports growing relatively slowly, the Australian government is working on measures to double the quantity and revenues from agricultural products exported by 2025. The government is identifying regions according to their current production of export foods and their potential to increase production with the help of new institutional reforms.
The farmers in Australia are wealthy and have sufficient money to invest in agricultural machinery such as tractors. In addition, the farmers in the country also benefit from easy credit loans for purchasing agriculture machinery.
In 2020, the country imported USD 1.01 billion worth of tractors, of which the U.S. accounted for 37.8% of the imports, followed by Germany.
The Australia agricultural machinery market exports about one-third of its products. Wheat is grown on about one-third of Australia's agricultural land; Wheat is the leading crop with a share of around 58%, followed by barley and canola.
In 2020, the country exported USD 39.6 million worth of tractors, of which New Zealand accounted for a 70.0% share of the overall exports of tractors from Australia, followed by Bolivia and Peru.
Market Trends and Opportunities
Increasing Usage of Energy Efficient Tractors
The AgriStarters project aims to improve the living conditions of those who are a part of the agricultural supply chain and to provide essential equipment sustainably. This aim joins an already announced objective to reduce total greenhouse gas (GHC) emissions by 40% by 2030 and zero emissions by 2040. The adoption of energy-efficient tractors will fulfill these objectives and further drive the Australia tractor market growth.
Use of Non-conventional Fuels in Tractors
The Australia agriculture tractor market is witnessing a massive demand for tractors running on different fuels. The sale of tractors is affected due to fluctuating prices of conventional fuels such as diesel. Thus, manufacturers are focusing on developing alternative fuel-based tractors; nowadays, tractors running on liquefied natural gas (LNG), compressed natural gas (CNG), propane, diesel, and kerosene are also available. Also, the growing concerns over environmental pollution fuel the demand for biodiesel tractors. Farmers, however, are increasingly preferring them because of their considerably low operating costs as they require lesser maintenance.
Technologies Across Agricultural Equipment in the Australia Tractor Market
Telematics enables the agriculture tractor driver or operators to closely monitor their fleet of vehicles and trucks through use of a GPS tracker. It captures data from farm equipment operating in a field and transfers it to the internet in real-time.
Robotic seeding and weeding technology help identify the correct quantity of pesticides required by a crop. It is incredibly accurate and reduces pesticide usage by 90%. It helps the farmers to control and prevent herbicide-resistant weeds.
AI helps to analyze plant health, soil condition, temperature, humidity, etc. It allows the farmers to make better decisions by interpreting the field's environment data collected with the help of sensors.
John Deere and Case IH dominate the Australia tractors market with a collective market share of over 30%. The threat of rivalry is high in Australia agriculture tractor market since more than 40% of the share belongs to the top three key players.
John Deere offers new Electric Variable Transmission for select 8 Series Tractors new JD14X engine for 9 Series; EVT enables electric power generation, a way the industry will leverage power produced by the tractor for its implements in the future.
CNH Industrial partnered with Monarch Tractors, a US-based Agri-technology company, in March 2021. The partnership will help to improve long-term sustainability and raise awareness among farmers of the importance of zero-emission agriculture.
Other Prominent Vendors
Mahindra & Mahindra
Key Questions Answered:
1. What is the growth rate of the Australia Tractors Market?
2. How many tractors are sold in Australia each year?
3. What are the expected units to be sold in the Australian tractors market by 2028?
4. Which wheel drive holds the highest market shares in the Australian region?
5. Which companies dominate the Australia tractor market share?
Key Topics Covered:
1 Research Methodology
2 Research Objectives
3 Research Process
4 Scope & Coverage
4.1 Market Definition
4.1.3 Market Estimation Caveats
4.2 Base Year
4.3 Scope of the Study
5 Report Assumptions & Caveats
5.1 Key Caveats
5.2 Currency Conversion
5.3 Market Derivation
6 Market at a Glance
7 Premium Insights
7.1 Report Coverage in Terms of Data
8.2 Australia's Agricultural Innovation Policy
8.1 Value Chain Analysis
8.1.2 Raw Material & Component Suppliers
8.2 After Sales Market
8.2.1 Overview of After-Sales Market
8.3 Land Holding Structures by Regions or Territory
8.4 Import & Export Analysis
8.5 Technological Advances
9 Market Landscape
9.1 Market Overview
9.1.1 Major Labor Shortage in Agriculture Sector
9.2 Market Size & Forecast
10.1 Market Snapshot & Growth Engine
10.2 Market Overview
10.3 Less Than 50 Hp
10.3.1 Market Overview
10.3.2 Market Size & Forecast
10.3.3 Less Than 50 Hp Agriculture Tractor Market in Australia by Regions
10.4 50-100 Hp
10.4.1 Market Overview
10.4.2 Market Size & Forecast
10.4.3 50-100 Hp Tractor Market in Australia by Regions
10.5 Above 100 Hp
10.5.1 Market Overview
10.5.2 Market Size & Forecast
10.5.3 Above 100 Hp Agriculture Tractor Market in Australia by Regions
11 Drive Type
11.1 Market Snapshot & Growth Engine
11.2 Market Overview
11.2.1 Market Size & Forecast
11.3 2Wd Tractors
11.3.1 Market Overview
11.3.2 Market Size & Forecast
11.3.3 2Wd Agriculture Tractor Market in Australia by Regions
11.4 4Wd Tractors
11.4.1 Market Overview
11.4.2 Market Size & Forecast
11.4.3 4Wd Agriculture Tractor Market in Australia by Regions
13 Market Opportunities & Trends
13.1 Technological Advances in Tractors
13.1.1 Gps Technology
13.1.2 Growing Demand for Autonomous Tractors
13.2 Increasing Use of Non-Conventional Fuel in Tractors
13.3 Increasing Potential for Electric Tractors
14 Market Growth Enablers
14.1 Financial Support to Farmers Through Loans & Subsidies
14.2 Reducing Workforce to Boost Farm Mechanization
14.3 Growth in Agricultural Productivity & Exports
14.3.1 Agricultural Exports
15 Market Restraints
15.1 Farmers Unaware of Latest Innovations in Agricultural Equipment
15.1.1 Low Levels of Education Among Farmers in Emerging Countries
15.1.2 Resource Scarcity of Small and Medium Farmers
15.2 Rising Demand for Used & Rental Tractors
15.3 Declining Commodity Prices
16 Five Forces Analysis
16.1.1 Threat of New Entrants
16.1.2 Bargaining Power of Suppliers
16.1.3 Bargaining Power of Buyers
16.1.4 Threat of Substitutes
16.1.5 Competitive Rivalry
17 Competitive Landscape
17.1 Competition Overview
17.1.1 Brand Loyalty Among Farmers
17.1.2 Recent Developments by Top Players
17.1.3 Sales & Exports
18 Key Company Profiles
18.1 John Deere
18.1.1 Business Overview
18.1.2 John Deere in Agriculture Tractor Market
18.1.3 Product Offerings
18.1.4 Key Strategies
18.1.5 Key Strengths
18.1.6 Key Opportunities
18.2.1 Business Overview
18.2.2 Agco in Agriculture Tractor Market
18.2.3 Product Offerings
18.2.4 Key Strategies
18.2.5 Key Strengths
18.2.6 Key Opportunities
18.3 Cnh Industrial
18.3.1 Business Overview
18.3.2 Cnh in Agriculture Tractor Market
18.3.3 Product Offerings
18.3.4 Key Strategies
18.3.5 Key Strengths
18.3.6 Key Opportunities
18.4.1 Business Overview
18.4.2 Kubota in Agriculture Tractor Market
18.4.3 Product Offerings
18.4.4 Key Strategies
18.4.5 Key Strengths
18.4.6 Key Opportunities
19 Other Prominent Vendors
19.1.1 Business Overview
19.1.2 Product Offerings
19.2.1 Business Overview
19.2.2 Product Offerings
19.3 Mahindra & Mahindra
19.3.1 Business Overview
19.3.2 Product Offerings
19.4 Claas Group
19.4.1 Business Overview
19.4.2 Product Offerings
19.5.1 Business Overview
19.5.2 Product Offerings
19.6.1 Business Overview
19.6.2 Product Offerings
20 Report Summary
21 Quantitative Summary
For more information about this report visit https://www.researchandmarkets.com/r/rcqyce
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