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The German agriculture tractor market is expected to grow at a CAGR of 5.10% during 2022-2028

·4-min read
ReportLinker
ReportLinker

In-depth Analysis and Data-driven Insights on the Impact of COVID-19 Included in this Germany Tractor Market Report. The study considers a detailed scenario of the present market and its market dynamics for 2022?2028.

New York, April 19, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Germany Tractor Market - Industry Analysis & Forecast 2022-2028" - https://www.reportlinker.com/p06268707/?utm_source=GNW
It covers a detailed overview of several market growth enablers, restraints, and trends. The report offers both the demand and supply aspects of the market. It profiles and examines leading companies and other prominent ones operating in the market.

The German agriculture tractor market is expected to grow at a CAGR of 5.10% during 2022-2028

KEY HIGHLIGHTS

- Germany Agriculture Tractor Market is expected to grow significantly at a CAGR of 5.10% (by Volume) during the forecast period 2021-2028. 2-Wheel-Drive segment accounted more than 85% from the overall tractor market. 50-100 HP segment accounted for the largest market share is expected to grow at a CAGR of 5.04% (by Volume) during the forecast period.

- Germany is the Europe’s largest tractors market. The two biggest agricultural tractor markets in Europe - Germany and France, accounting for almost four agricultural tractors out of 10 registered in Europe. Agriculture tractors accounted for 93% of the overall German tractors market in 2021.

- With approximately 80% share, tractors are the largest segment of agriculture equipment in Germany in terms of revenue. In addition, in terms of unit sales, Germany is the largest exporter of tractors across Europe. The number of tractors manufactured in Germany accounts for over two-thirds of the total number of tractors manufactured in Europe.

- The German economy achieved excellent growth in 2021, and the growth rate is expected to sustain in 2023, supported by the rising employment rate and a monetary policy stance that will continue to support domestic demand. Consequently, 2022 is expected to witness a healthy increment of 4.5% in real GDP growth.

- The Government of Germany’s schemes and initiatives to facilitate credit and improve agriculture-related operations are the major drivers that are contributing to the growth of the overall value chain in the German agricultural sector.

- Germany spent $1.4 billion of its official development assistance (ODA) on agriculture in 2021, making it the prime Organization for Economic Cooperation and Development (OECD) and Development Assistance Committee (DAC) donor to agriculture in real terms.

- Agriculture was one of the strategic priorities of the former Development Minister of Germany, Gerd Muller, launched ’ONE WORLD - No Hunger’, a special initiative on food and nutrition security as well as rural development in 2014, which will most likely be carried forward in this legislative period (2021?2025) under the new Development Minister Svenja Schulze.

MARKET OPPORTUNITIES AND TRENDS

• Technological Advancements in Tractors
• Growing Farm Mechanization to Reduce Workforce

MARKET GROWTH ENABLERS

• Financial Support to Farmers Through Loans & Subsidies
• Increasing Farmland Size

GERMANY TRACTOR MARKET SEGMENTATION
Tractors are the most profitable segment of agricultural equipment in Germany, accounting for nearly 80% of total revenue. In addition, Germany is the leading tractor exporter in Europe in terms of unit sales. Tractors manufactured in Germany account for more than two-thirds of all tractors produced in Europe.

Segmentation by Horsepower

• Less Than 50 HP
• 50-100 HP
• 101-150 HP
• Above 150 HP

Segmentation by Drive Type

• 2-Wheel-Drive
• 4-Wheel-Drive

Segmentation by Zone

• Zone I
• Zone II
• Zone III
• Zone IV

VENDOR LANDSCAPE

The key players in the Germany agriculture tractor market are John Deere, CNH Industrial, AGCO, TAFE, and Kubota. In terms of units sold, John Deere and Fendt are the market leaders which accounted for more than 40% of overall German agriculture tractors market in 2021, and in terms of exports, Fendt emerges as the largest exporter of tractors manufactured in Germany, it is the largest manufacturer and seller in Germany.

Key Vendors

• John Deere
• CNH
• AGCO
• Kubota
• TAFE

Other Prominent Vendors

• SDF
• Action Construction Equipment (ACE)
• Iseki
• Deutz-Fahr
• Mahindra & Mahindra
• Yanmar
• Escorts

THE REPORT INCLUDES:

1. The analysis of the Germany Tractor market provides market size and growth rate for the forecast period 2022-2028.
2. It offers comprehensive insights into current industry trends, trend forecast, and growth drivers about the Germany Tractor market.
3. The report provides the latest analysis of market share, growth drivers, challenges, and investment opportunities.
4. It offers a complete overview of market segments and the regional outlook of the Germany Tractor market.
5. The report offers a detailed overview of the vendor landscape, competitive analysis, and critical market strategies to gain competitive advantage.
Read the full report: https://www.reportlinker.com/p06268707/?utm_source=GNW

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