Asia Pacific Compact Tractors Market Forecast to 2030
Asia Pacific Compact Tractors Market Forecast to 2030 – Regional Analysis – by Capacity (Below 30 HP, 30 HP – 40 HP, and 40 HP – 60 HP), Drive Type (Two-Wheel Drive and Four-Wheel Drive), and End Use (Agriculture and Utility)
$2,485 – $3,885
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Description
Use of Compact Tractors in Various End-Use Applications Fuels Asia Pacific Compact Tractors Market
Compact tractors’ small size and operational efficiency are boosting their application in different end-use applications in construction, mining, vineyards, orchards, and landscaping. The compact tractors between 15 HP (horsepower) and 30 HP are suitable for hauling. However, with technological advancements, compact tractors of more than 30 HP range also efficiently perform small-scale hauling tasks. In addition, transportation of farming equipment and assets from farm to workshop is also convenient with compact tractors. The application of compact tractors for snow removal or dirt road maintenance is fueling the demand for compact tractors.
In mining operations, compact tractors are used to excavate and haul rubble or gravel. Moreover, compact tractors can be utilized to spray herbicides and pesticides on farming lands to save crops from locusts and pests. The small size of compact tractors is ideal for vineyards and orchards as it can be fitted into narrow spaces. Compact tractors can perform routine duties such as transporting feed and hay or cleaning stalls for livestock, making the farmers’ work easier. Compact tractors are also used for residential commercial landscaping of gardens. Attaching box scrapers, hydraulic tillers, blades, or cultivators can make compact tractors more efficient for landscaping. The increasing use of compact tractors in various end-use applications drives the compact tractors market.
Asia Pacific Compact Tractors Market Overview
Asia Pacific is leading the market for compact tractors. China, India, Japan, and South Korea are among the major countries for compact tractors in Asia Pacific. The agricultural sector demonstrates an important function in the economy of many countries across Asia Pacific. Compact tractors are mostly used in the agricultural sector for various tasks, including plowing, mowing, landscaping, planting, tilling, and hauling. Increasing governmental initiatives to encourage the development of small-scale farmers and support their livelihood is one of the key reasons for the growth of the compact tractors market across Asia Pacific. China is one of the world’s largest agricultural suppliers, producing a quarter of global grain demand and supplies to one-fifth of the world’s population. According to the Food and Agriculture Organization, in 2023, China ranks first in producing vegetables, fruits, meat, cereals, fruits, poultry, eggs, and cotton. In 2023, more than 40% of the Chinese workforce has been engaged in small-scale farming operations across the region. This shows a large dominance of farming activities in China-one of the major factors driving the growth of the compact tractors market in country. Also, the overall tractor sales in China witnessed a growth of more than 4% in 2022 compared to 2021 sales of tractors. Furthermore, the demand for Chinese compact tractors is also witnessing a strong growth in terms of exports and local manufacturing, which ultimately drive the demand for compact tractors across China.
Asia Pacific Compact Tractors Market Revenue and Forecast to 2030 (US$ Million)
Asia Pacific Compact Tractors Market Segmentation
The Asia Pacific compact tractors market is segmented into capacity, drive type, end use, and country.
Based on capacity, the Asia Pacific compact tractors market is segmented into below 30 HP, 30 HP – 40 HP, and 40 HP – 60 HP. The 40 HP – 60 HP segment held the largest share of the Asia Pacific compact tractors market in 2022.
Based on drive type, the Asia Pacific compact tractors market is bifurcated into two-wheel drive and four-wheel drive. The two-wheel drive segment held a larger share of the Asia Pacific compact tractors market in 2022.
Based on end use, the Asia Pacific compact tractors market is bifurcated into agriculture and utility. The agriculture segment held a larger share of the Asia Pacific compact tractors market in 2022.
Based on country, the Asia Pacific compact tractors market is segmented into Australia, China, India, Japan, South Korea, and the Rest of Asia Pacific. China dominated the Asia Pacific compact tractors market in 2022.
AGCO Corp, CNH Industrial NV, Deere & Co, Iseki and Co Ltd, Kubota Corp, LS Mitron Ltd, Mahindra & Mahindra Ltd, Same Deutz-Fahr Italia SpA, and Yanmar Holdings Co Ltd are some of the leading companies operating in the Asia Pacific compact tractors market.
Summary Info
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According to the Research Team’ research, the Asia Pacific compact tractors market was valued at US$ 3,326.37 million in 2022 and is expected to reach US$ 4,325.32 million by 2030, registering a CAGR of 3.3% from 2022 to 2030. Increase in technological advancements in the agricultural sector and use of compact tractors in animal management, driveway maintenance, and lawn care are among the critical factors attributed to the Asia Pacific compact tractors market expansion.
The increasing application of compact tractors in different applications such as lawn care, driveway maintenance, and animal or livestock management is anticipated to provide major growth opportunities for the compact tractors market. Reducing human intervention and increasing machine applications for routine duties are boosting the usage of compact tractors. Compact utility tractors can be used for mowing, which is required in lawn care and maintenance. Transporting hay and feed and cleaning out pens are general tasks a compact tractor can manage. Dirt roads need maintenance, specifically after heavy storms. Compact tractors can be utilized for removing snow from the driveway. Increasing technological advancement is boosting the use of compact tractors for various end-user activities, which is anticipated to provide growth opportunities for the compact tractors market.
On the contrary, operational limitations of compact tractors hamper the Asia Pacific compact tractors market.
Based on capacity, the Asia Pacific compact tractors market is segmented into below 30 HP, 30 HP – 40 HP, and 40 HP – 60 HP. The 40 HP – 60 HP segment held 53.2% share of Asia Pacific compact tractors market in 2022, amassing US$ 1,769.61 million. It is projected to garner US$ 2,232.04 million by 2030 to expand at 2.9% CAGR during 2022-2030.
Based on drive type, the Asia Pacific compact tractors market is bifurcated into two-wheel drive and four-wheel drive. The two-wheel drive segment held 86.0% share of Asia Pacific compact tractors market in 2022, amassing US$ 2,859.52 million. It is projected to garner US$ 3,695.94 million by 2030 to expand at 3.3% CAGR during 2022-2030.
Based on end use, the Asia Pacific compact tractors market is bifurcated into agriculture and utility. The agriculture segment held 79.6% share of Asia Pacific compact tractors market in 2022, amassing US$ 2,646.64 million. It is projected to garner US$ 3,395.01 million by 2030 to expand at 3.2% CAGR during 2022-2030.
Based on country, the Asia Pacific compact tractors market has been categorized into Australia, China, India, Japan, South Korea, and the Rest of Asia Pacific. Our regional analysis states that China captured 45.1% share of Asia Pacific compact tractors market in 2022. It was assessed at US$ 1,499.93 million in 2022 and is likely to hit US$ 1,775.98 million by 2030, exhibiting a CAGR of 2.1% during 2022-2030.
Key players operating in the Asia Pacific compact tractors market are AGCO Corp, CNH Industrial NV, Deere & Co, Iseki and Co Ltd, Kubota Corp, LS Mitron Ltd, Mahindra & Mahindra Ltd, Same Deutz-Fahr Italia SpA, and Yanmar Holdings Co Ltd, among others.
In 2023, Mahindra OJA set to Transform Farming in India, with the launch of 7 Revolutionary Lightweight 4WD Tractors.
In 2023, Swaraj Tractors launched two models in the 20-30 HP (14.91 – 22.37kW) category under the Swaraj Target range. The price starts from Rs 5.35 lakhs ex-showroom. Its feature include powerful DI Engine with an 87 Nm torque to effortlessly pull trailed sprayers of up to 800 Liter even in the muddiest terrain, maximumlift capacity of 980Kg, PTO power in its class -17.9 kW (24 HP) 4WD, and Fully Sealed 4WD Portal Axle.
o Highlights key business priorities in order to assist companies to realign their business strategies.
o The key findings and recommendations highlight crucial progressive industry trends in the Asia Pacific compact tractors market, thereby allowing players across the value chain to develop effective long-term strategies.
o Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
o Scrutinize in-depth Asia Pacific market trends and outlook coupled with the factors driving the market, as well as those hindering it.
o Enhance the decision-making process by understanding the strategies that underpin security interest with respect to client products, segmentation, pricing, and distribution
TABLE OF CONTENTS
1. Introduction
1.1 the Research Team Research Report Guidance
1.2 Market Segmentation
2. Executive Summary
2.1 Key Insights
2.2 Market Attractiveness
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. Asia Pacific Compact Tractors Market Landscape
4.1 Overview
4.2 PEST Analysis
4.3 Ecosystem Analysis
4.3.1 Raw Material Suppliers/Component Suppliers
4.3.2 Compact Tractors Manufacturer
4.3.3 End User
5. Asia Pacific Compact Tractors Market – Key Industry Dynamics
5.1 Asia Pacific Compact Tractors Market – Key Industry Dynamics
5.2 Market Drivers
5.2.1 Increase in Technological Advancements in Agricultural Sector
5.2.2 Use of Compact Tractors in Animal Management, Driveway Maintenance, and Lawn Care
5.2.3 Increase in Number of Small-Scale Agricultural Farms
5.3 Market Restraints
5.3.1 Operational Limitations of Compact Tractors
5.4 Market Opportunities
5.4.1 Use of Compact Tractors in Various End-Use Applications
5.5 Future Trends
5.5.1 Electrification of Compact Tractors
5.6 Impact of Drivers and Restraints:
6. Compact Tractors Market – Asia Pacific Market Analysis
6.1 Asia Pacific Compact Tractors Market Revenue (US$ Million), 2022 – 2030
6.2 Asia Pacific Compact Tractors Market Forecast and Analysis
7. Asia Pacific Compact Tractors Market Analysis – Capacity
7.1.1 Asia Pacific Compact Tractors Market, By Capacity (2022 and 2030)
7.2 Below 30 HP
7.2.1 Overview
7.2.2 Below 30 HP: Asia Pacific Compact Tractors Market, Revenue and Forecast to 2030 (US$ Million)
7.3 HP – 40 HP
7.3.1 Overview
7.3.2 HP – 40 HP: Asia Pacific Compact Tractors Market, Revenue and Forecast to 2030 (US$ Million)
7.4 HP – 60 HP
7.4.1 Overview
7.4.2 HP – 60 HP: Asia Pacific Compact Tractors Market, Revenue and Forecast to 2030 (US$ Million)
8. Asia Pacific Compact Tractors Market Analysis – Drive Type
8.1.1 Asia Pacific Compact Tractors Market, By Drive Type (2022 and 2030)
8.2 Two-Wheel Drive
8.2.1 Overview
8.2.2 Two-Wheel Drive: Asia Pacific Compact Tractors Market, Revenue and Forecast to 2030 (US$ Million)
8.3 Four-Wheel Drive
8.3.1 Overview
8.3.2 Four-Wheel Drive: Asia Pacific Compact Tractors Market, Revenue and Forecast to 2030 (US$ Million)
9. Asia Pacific Compact Tractors Market Analysis – End Use
9.1.1 Asia Pacific Compact Tractors Market, By End Use (2022 and 2030)
9.2 Agriculture
9.2.1 Overview
9.2.2 Agriculture Market, Revenue and Forecast to 2030 (US$ Million)
9.3 Utility
9.3.1 Overview
9.3.2 Utility: Asia Pacific Compact Tractors Market, Revenue and Forecast to 2030 (US$ Million)
10. Asia Pacific Compact Tractors Market – Country Analysis
10.1 Asia Pacific Compact Tractors Market
10.1.1 Overview
10.1.2 Asia Pacific Compact Tractors Market Revenue and Forecasts and Analysis – By Country
10.1.2.1 Australia: Asia Pacific Compact Tractors Market Revenue and Forecasts to 2030 (US$ Mn)
10.1.2.1.1 Australia: Asia Pacific Compact Tractors Market Breakdown by Capacity
10.1.2.1.2 Australia: Asia Pacific Compact Tractors Market Breakdown by Drive Type
10.1.2.1.3 Australia: Asia Pacific Compact Tractors Market Breakdown by End Use
10.1.2.2 China: Asia Pacific Compact Tractors Market Revenue and Forecasts to 2030 (US$ Mn)
10.1.2.2.1 China: Asia Pacific Compact Tractors Market Breakdown by Capacity
10.1.2.2.2 China: Asia Pacific Compact Tractors Market Breakdown by Drive Type
10.1.2.2.3 China: Asia Pacific Compact Tractors Market Breakdown by End Use
10.1.2.3 India: Asia Pacific Compact Tractors Market Revenue and Forecasts to 2030 (US$ Mn)
10.1.2.3.1 India: Asia Pacific Compact Tractors Market Breakdown by Capacity
10.1.2.3.2 India: Asia Pacific Compact Tractors Market Breakdown by Drive Type
10.1.2.3.3 India: Asia Pacific Compact Tractors Market Breakdown by End Use
10.1.2.4 Japan: Asia Pacific Compact Tractors Market Revenue and Forecasts to 2030 (US$ Mn)
10.1.2.4.1 Japan: Asia Pacific Compact Tractors Market Breakdown by Capacity
10.1.2.4.2 Japan: Asia Pacific Compact Tractors Market Breakdown by Drive Type
10.1.2.4.3 Japan: Asia Pacific Compact Tractors Market Breakdown by End Use
10.1.2.5 South Korea: Asia Pacific Compact Tractors Market Revenue and Forecasts to 2030 (US$ Mn)
10.1.2.5.1 South Korea: Asia Pacific Compact Tractors Market Breakdown by Capacity
10.1.2.5.2 South Korea: Asia Pacific Compact Tractors Market Breakdown by Drive Type
10.1.2.5.3 South Korea: Asia Pacific Compact Tractors Market Breakdown by End Use
10.1.2.6 Rest of APAC: Asia Pacific Compact Tractors Market Revenue and Forecasts to 2030 (US$ Mn)
10.1.2.6.1 Rest of APAC: Asia Pacific Compact Tractors Market Breakdown by Capacity
10.1.2.6.2 Rest of APAC: Asia Pacific Compact Tractors Market Breakdown by Drive Type
10.1.2.6.3 Rest of APAC: Asia Pacific Compact Tractors Market Breakdown by End Use
11. Industry Landscape
11.1 Overview
11.2 Market Initiative
11.3 New Product Development
11.4 Merger and Acquisition
12. Company Profiles
12.1 Same Deutz-Fahr Italia SpA
12.1.1 Key Facts
12.1.2 Business Description
12.1.3 Products and Services
12.1.4 Financial Overview
12.1.5 SWOT Analysis
12.1.6 Key Developments
12.2 Iseki and Co Ltd
12.2.1 Key Facts
12.2.2 Business Description
12.2.3 Products and Services
12.2.4 Financial Overview
12.2.5 SWOT Analysis
12.2.6 Key Developments
12.3 LS Mitron Ltd
12.3.1 Key Facts
12.3.2 Business Description
12.3.3 Products and Services
12.3.4 Financial Overview
12.3.5 SWOT Analysis
12.3.6 Key Developments
12.4 Yanmar Holdings Co Ltd
12.4.1 Key Facts
12.4.2 Business Description
12.4.3 Products and Services
12.4.4 Financial Overview
12.4.5 SWOT Analysis
12.4.6 Key Developments
12.5 AGCO Corp
12.5.1 Key Facts
12.5.2 Business Description
12.5.3 Products and Services
12.5.4 Financial Overview
12.5.5 SWOT Analysis
12.5.6 Key Developments
12.6 CNH Industrial NV
12.6.1 Key Facts
12.6.2 Business Description
12.6.3 Products and Services
12.6.4 Financial Overview
12.6.5 SWOT Analysis
12.6.6 Key Developments
12.7 Deere & Co
12.7.1 Key Facts
12.7.2 Business Description
12.7.3 Products and Services
12.7.4 Financial Overview
12.7.5 SWOT Analysis
12.7.6 Key Developments
12.8 Kubota Corp
12.8.1 Key Facts
12.8.2 Business Description
12.8.3 Products and Services
12.8.4 Financial Overview
12.8.5 SWOT Analysis
12.8.6 Key Developments
12.9 Mahindra & Mahindra Ltd
12.9.1 Key Facts
12.9.2 Business Description
12.9.3 Products and Services
12.9.4 Financial Overview
12.9.5 SWOT Analysis
12.9.6 Key Developments
13. Appendix
13.1 About the Research Team
LIST OF TABLES
Table 1. Asia Pacific Compact Tractors Market Segmentation
Table 2. Asia Pacific Compact Tractors Market Revenue and Forecasts To 2030 (US$ Million)
Table 3. Asia Pacific Compact Tractors Market Revenue and Forecasts To 2030 (US$ Million) – Capacity
Table 4. Asia Pacific Compact Tractors Market Revenue and Forecasts To 2030 (US$ Million) – Drive Type
Table 5. Asia Pacific Compact Tractors Market Revenue and Forecasts To 2030 (US$ Million) – End Use
Table 6. Australia: Asia Pacific Compact Tractors Market Revenue and Forecasts To 2030 (US$ Mn) – By Capacity
Table 7. Australia: Asia Pacific Compact Tractors Market Revenue and Forecasts To 2030 (US$ Mn) – By Drive Type
Table 8. Australia: Asia Pacific Compact Tractors Market Revenue and Forecasts To 2030 (US$ Mn) – By End Use
Table 9. China: Asia Pacific Compact Tractors Market Revenue and Forecasts To 2030 (US$ Mn) – By Capacity
Table 10. China: Asia Pacific Compact Tractors Market Revenue and Forecasts To 2030 (US$ Mn) – By Drive Type
Table 11. China: Asia Pacific Compact Tractors Market Revenue and Forecasts To 2030 (US$ Mn) – By End Use
Table 12. India: Asia Pacific Compact Tractors Market Revenue and Forecasts To 2030 (US$ Mn) – By Capacity
Table 13. India: Asia Pacific Compact Tractors Market Revenue and Forecasts To 2030 (US$ Mn) – By Drive Type
Table 14. India: Asia Pacific Compact Tractors Market Revenue and Forecasts To 2030 (US$ Mn) – By End Use
Table 15. Japan: Asia Pacific Compact Tractors Market Revenue and Forecasts To 2030 (US$ Mn) – By Capacity
Table 16. Japan: Asia Pacific Compact Tractors Market Revenue and Forecasts To 2030 (US$ Mn) – By Drive Type
Table 17. Japan: Asia Pacific Compact Tractors Market Revenue and Forecasts To 2030 (US$ Mn) – By End Use
Table 18. South Korea: Asia Pacific Compact Tractors Market Revenue and Forecasts To 2030 (US$ Mn) – By Capacity
Table 19. South Korea: Asia Pacific Compact Tractors Market Revenue and Forecasts To 2030 (US$ Mn) – By Drive Type
Table 20. South Korea: Asia Pacific Compact Tractors Market Revenue and Forecasts To 2030 (US$ Mn) – By End Use
Table 21. Rest of APAC: Asia Pacific Compact Tractors Market Revenue and Forecasts To 2030 (US$ Mn) – By Capacity
Table 22. Rest of APAC: Asia Pacific Compact Tractors Market Revenue and Forecasts To 2030 (US$ Mn) – By Drive Type
Table 23. Rest of APAC: Asia Pacific Compact Tractors Market Revenue and Forecasts To 2030 (US$ Mn) – By End Use
LIST OF FIGURES
Figure 1. Asia Pacific Compact Tractors Market Segmentation, By Country
Figure 2. PEST Analysis
Figure 3. Ecosystem: Asia Pacific Compact Tractors Market
Figure 4. Impact Analysis of Drivers and Restraints
Figure 5. Asia Pacific Compact Tractors Market Revenue (US$ Million), 2022 – 2030
Figure 6. Asia Pacific Compact Tractors Market Share (%) – Capacity, 2022 and 2030
Figure 7. Below 30 HP: Asia Pacific Compact Tractors Market Revenue and Forecasts To 2030 (US$ Million)
Figure 8. HP – 40 HP: Asia Pacific Compact Tractors Market Revenue and Forecasts To 2030 (US$ Million)
Figure 9. HP – 60 HP: Asia Pacific Compact Tractors Market Revenue and Forecasts To 2030 (US$ Million)
Figure 10. Asia Pacific Compact Tractors Market Share (%) – Drive Type, 2022 and 2030
Figure 11. Two-Wheel Drive: Asia Pacific Compact Tractors Market Revenue and Forecasts To 2030 (US$ Million)
Figure 12. Four-Wheel Drive: Asia Pacific Compact Tractors Market Revenue and Forecasts To 2030 (US$ Million)
Figure 13. Asia Pacific Compact Tractors Market Share (%) – End Use, 2022 and 2030
Figure 14. Agriculture: Asia Pacific Compact Tractors Market, Revenue and Forecasts To 2030 (US$ Million)
Figure 15. Utility: Asia Pacific Compact Tractors Market Revenue and Forecasts To 2030 (US$ Million)
Figure 16. Asia Pacific Compact Tractors Market, By Key Country – Revenue (2022) (US$ Million)
Figure 17. Asia Pacific Compact Tractors Market Breakdown by Key Countries, 2022 and 2030 (%)
Figure 18. Australia: Asia Pacific Compact Tractors Market Revenue and Forecasts To 2030 (US$ Mn)
Figure 19. China: Asia Pacific Compact Tractors Market Revenue and Forecasts To 2030 (US$ Mn)
Figure 20. India: Asia Pacific Compact Tractors Market Revenue and Forecasts To 2030 (US$ Mn)
Figure 21. Japan: Asia Pacific Compact Tractors Market Revenue and Forecasts To 2030 (US$ Mn)
Figure 22. South Korea: Asia Pacific Compact Tractors Market Revenue and Forecasts To 2030 (US$ Mn)
Figure 23. Rest of APAC: Asia Pacific Compact Tractors Market Revenue and Forecasts To 2030 (US$ Mn)
The List of Companies – Asia Pacific Compact Tractors Market
1. AGCO Corp
2. CNH Industrial NV
3. Deere & Co
4. Iseki and Co Ltd
5. Kubota Corp
6. LS Mitron Ltd
7. Mahindra & Mahindra Ltd
8. Same Deutz-Fahr Italia SpA
9. Yanmar Holdings Co Ltd
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