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Canada Tractors Industry Report 2022 - Fiscal Support to Farmers Through Loans & Subsidies is Driving Growth

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Dublin, Nov. 11, 2022 (GLOBE NEWSWIRE) -- The "Canada Tractors Market - Industry Analysis & Forecast 2022-2028" report has been added to ResearchAndMarkets.com's offering.

Canada has over 38 million food consumers and is one of North America's second-largest food markets and food exporters. Despite its high population density, Canada has more than half of its area under agricultural land, covering more than 158 million acres.

The country has witnessed a massive increase in farm mechanization, both in terms of agricultural and industrial productivity, over the past four decades, driven by the technological renaissance.

In 2021, the less than 50 HP segment accounted for the largest share due to its compact size and flexible operational capabilities. Mechanized feedlots typically characterize the agricultural scenario in Canada to automatic irrigation systems and agricultural machinery. As the demand for food and associated resources from the world's economy rises, there has been a tremendous rise in input resources, such as farm machinery usage, to improve productivity and efficiency.

Key Highlights

  • Canada is the second largest country in North America. Arable land covers 36.8 million hectares of Canada's total land, while forest covers 362 million hectares. As of 2020, there are around 89 million acres (53.1%) of cultivable land.

  • The penetration and adoption of farm mechanization practices across Canada have driven the sale of new tractors. Tractors and agricultural implements are the major product categories of the organized agriculture market in Canada.

  • The farmers in Canada are wealthy and have sufficient money to invest in agriculture machinery such as tractors. In addition, the farmers in the country also benefit from easy credit loans for purchasing agriculture machinery.

  • With the share of agricultural exports growing relatively slowly, the Canadian 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.

  • There is an ominous requirement to improve agricultural productivity across central agriculture states in Canada. The rural farm community in developing agrarian states often suffers from poverty, where the farm income is relatively lower than in developed economies. The government and its policies play a significant role in the availability and access to agriculture tractors, implements, and technology.

  • The US is the world's top exporter of agricultural goods, with $177 billion in 2021. The US agricultural industry exports about one-third of its products. Corn is grown on about one-third of US agricultural land. Corn is by far the leading crop, followed by soybeans and wheat.

  • In 2019, The US exported $3.7 billion worth of tractors, of which Canada accounted for a 48.0% share of the overall exports of tractors from the US, followed by Australia (10.3%) and Germany (4.8%).

Market Trends and Opportunities

Increasing Usage of Energy Efficient Tractors

The AgriInvest and AgriStability project aims to improve the living conditions of those who are a part of the agricultural supply chain and 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. Adopting energy-efficient tractors will fulfill these objectives in the Canadian tractors market.

Use of Non-conventional Fuels

Manufacturers in Canada focus on the development of alternate fuel-based machines. Tractors that run on liquefied natural gas (LNG), compressed natural gas (CNG), propane, diesel, and kerosene are available these days.

Technologies Across Agricultural Equipment

  • Telematics enables the agriculture tractor driver or operators to closely monitor their fleet of vehicles and trucks through a GPS tracker. It captures data from farm equipment operating in a field and transfers the data to the internet in real-time.

  • Automation delivers a high tractive effort at a slow speed for tillage and other agricultural tasks. The technology is used in harvesters and tractors. It helps to reduce the dependency on labor, thus reducing the overall farming cost.

  • Real-time kinematics is a technique that uses carrier-based ranging and provides ranges that are the order of magnitude more precise than those available through code-based positioning. It reduces operators' workload by automatically harvesting rice and wheat with high precision and accuracy.

Key Questions Answered:
1. What is the growth rate of the Canada Tractors Market?
2. What are the expected units to be sold in the Canada tractors market by 2028?
3. Who are the Key Players in the Canada Tractors Market?
4. Which wheel drive holds the highest market shares in the Canada region?
5. Which companies dominate the Canada tractor market share?

Key Topics Covered:

1 Research Methodology

2 Research Objectives

3 Research Process

4 Scope & Coverage
4.1 Market Definition
4.1.1 Inclusions
4.1.2 Exclusions
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

8 Introduction
8.1 Overview
8.2 Value Chain Analysis
8.2.1 Overview
8.2.2 Raw Material & Component Suppliers
8.2.3 Manufacturers
8.2.4 Dealers/Distributors
8.2.5 Retailers
8.2.6 End-Users
8.3 Increased Adoption of Precision Farming
8.4 Government Support to Farmers
8.5 Role of Mechanization in the Agriculture Sector
8.6 Agricultural Land Holding Structures
8.7 Import & Export Analysis
8.8 Technological Advances

9 Market Landscape
9.1 Market Overview
9.1.1 Labor Shortage in the Agriculture Sector
9.2 Market Size & Forecast

10 Horsepower
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 Canada Less Than 50 Hp Agricultural Tractor Market by Province
10.4 50-100 Hp
10.4.1 Market Overview
10.4.2 Market Size & Forecast
10.4.3 Canada 50-100 Hp Agricultural Tractor Market by Province
10.5 Above 100 Hp
10.5.1 Market Overview
10.5.2 Market Size & Forecast
10.5.3 Canada Above 100 Hp Agricultural Tractor Market by Province

11 Drive Type
11.1 Market Snapshot & Growth Engine
11.2 Market Overview
11.2.1 Market Size & Forecast
11.3 2-Wheel Drive
11.3.1 Market Overview
11.3.2 Market Size & Forecast
11.3.3 Canada 2-Wheel Drive Agricultural Tractor Market by Province
11.4 4-Wheel Drive
11.4.1 Market Overview
11.4.2 Market Size & Forecast
11.4.3 Canada 4-Wheel Drive Agricultural Tractor Market by Province

12 Province
12.1 Market Snapshot & Growth Engine
12.2 Market Overview
12.3 Atlantic Provinces
12.3.1 Market Overview
12.3.2 Market Size & Forecast
12.3.3 Canada Atlantic Provinces Agricultural Tractor Market by Horsepower
12.3.4 Canada Atlantic Provinces Agricultural Tractor Market by Drive Type
12.4 Central Canada
12.4.1 Market Overview
12.4.2 Market Size & Forecast
12.4.3 Central Canada Agricultural Tractor Market by Horsepower
12.4.4 Central Canada Agricultural Tractor Market by Drive Type
12.5 Prairie Provinces
12.5.1 Market Overview
12.5.2 Market Size & Forecast
12.5.3 Canada Prairie Provinces Agricultural Tractor Market by Horsepower
12.5.4 Canada Prairie Provinces Agricultural Tractor Market by Drive Type
12.6 West Coast
12.6.1 Market Overview
12.6.2 Market Size & Forecast
12.6.3 Canada West Coast Agricultural Tractor Market by Horsepower
12.6.4 Canada West Coast Agricultural Tractor Market by Drive Type

13 Market Opportunities & Trends
13.1 Development of Smart & Autonomous Tractors
13.1.1 Gps Technology
13.1.2 High Demand for Autonomous Tractors
13.2 Potential of Electric Tractors
13.3 Use of Alternate Fuel-Based Tractors

14 Market Growth Enablers
14.1 Fiscal Support to Farmers Through Loans & Subsidies
14.2 Increased Farm Mechanization
14.3 Increased Agricultural Productivity & Exports
14.3.1 Agricultural Exports

15 Market Restraints
15.1 Climate Change Impact on Agricultural Activities
15.2 Fluctuations in Raw Material Costs
15.2.1 Cost to Manufacturers
15.2.2 Cost to Farmers
15.3 High Demand for Used & Rental Tractors
15.4 Five Forces Analysis
15.4.1 Threat of New Entrants
15.4.2 Bargaining Power of Suppliers
15.4.3 Bargaining Power of Buyers
15.4.4 Threat of Substitutes
15.4.5 Competitive Rivalry

16 Competitive Landscape
16.1 Competition Overview
16.1.1 Recent Developments by Top Brands
16.1.2 Brand Loyalty
16.1.3 Sales & Exports

17 Key Company Profiles
17.1 John Deere
17.1.1 Business Overview
17.1.2 John Deere in the Agricultural Tractor Market
17.1.3 Product Offerings
17.1.4 Key Strategies
17.1.5 Key Strengths
17.1.6 Key Opportunities
17.2 Cnh Industrial
17.2.1 Business Overview
17.2.2 Cnh Industrial in the Agricultural Tractor Market
17.2.3 Product Offerings
17.2.4 Key Strategies
17.2.5 Key Strengths
17.2.6 Key Opportunities
17.3 Agco
17.3.1 Business Overview
17.3.2 Agco in the Agricultural Tractor Market
17.3.3 Product Offerings
17.3.4 Key Strategies
17.3.5 Key Strengths
17.3.6 Key Opportunities
17.4 Kubota
17.4.1 Business Overview
17.4.2 Kubota in the Agricultural Tractor Market
17.4.3 Product Offerings
17.4.4 Key Strategies
17.4.5 Key Strengths
17.4.6 Key Opportunities

18 Other Prominent Vendors
18.1 Deutz-Fahr
18.1.1 Business Overview
18.1.2 Product Offerings
18.2 Mahindra & Mahindra
18.2.1 Business Overview
18.2.2 Product Offerings
18.3 Kioti
18.3.1 Business Overview
18.3.2 Product Offerings
18.4 Claas Group
18.4.1 Business Overview
18.4.2 Product Offerings
18.5 Jcb
18.5.1 Business Overview
18.5.2 Product Offerings
18.6 Yanmar
18.6.1 Business Overview
18.6.2 Product Offerings
18.7 Arbos Group
18.7.1 Business Overview
18.7.2 Product Offerings

19 Report Summary
19.1 Impact of Covid-19 on the Canadian Agriculture Sector
19.2 Key Takeaways
19.3 Strategic Recommendations

20 Quantitative Summary

For more information about this report visit https://www.researchandmarkets.com/r/lz7gss

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