Yahoo Finance Over 39 thousand Units of Tractors are to be Sold by 2028 in France. Precision Farming Creating Lucrative Opportunities for the Vendors - Arizton
The agricultural tractor market in France witnessed shipments of 29,319 units in 2021 and the shipments are expected to reach 39,213 units by 2028.
Chicago, May 16, 2022 (GLOBE NEWSWIRE) -- According to Arizton’s latest research report, the France tractor market is growing at a CAGR of 4.24% during 2022-2028. The increasing penetration and the adoption of farm mechanization practices throughout France have been driving the sales of new tractors. Mechanized solutions, such as the super straw management system (SMS) and expanding Custom Hiring Centres (CHCs) for stubble management, are major drivers of tractor market growth in France.
France Tractor Market Report Scope
Report Attributes | Details |
MARKET SIZE (VOLUME) | 39,213 UNITS (2028) |
CAGR | 4.24% (2022-2028) |
LARGEST SEGMENT BY HORSEPOWER | LESS THAN 50 HP |
LARGEST SEGMENT BY DRIVE TYPE | 2-WHEEL-DRIVE |
LARGEST SEGMENT BY REGION | FRANCE (NORTH) |
BASE YEAR | 2021 |
HISTORIC YEAR | 2019-2020 |
FORECAST YEAR | 2022-2028 |
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How is the Adoption of Precision Farming Impacting the Tractor Market in France?
In recent years, France has seen rapid growth in population. In 2020, France's population exceeded 67.4 million people and is expected to reach 72 million people by 2050. The adoption of precision agriculture methods and smart tractors will remain responsible for increasing the total yield and combating the present challenges of water scarcity and reduction in net yields. Smart tractors have the capability to operate innovative machines and collaborate with the latest agriculture application systems and equipment. Farmers can achieve maximum efficiency for every outcome in the field with precision agriculture solutions, which include innovations like the automated placement of the proper seed and nutrition at the right location and time. Moreover, the need to adopt precision farming techniques with smart tractors is high to effectively mitigate the challenges of food production and increase the net income of farmers.
Key Insights
In 2020, France was the 2nd largest agriculture tractor market after Germany across European region, with an overall unit registration of 26,121 units. The increase in tractor sales and crop production resulted from favorable monsoon rains in 2019 and 2020, which helped the country to recover from the drought-induced low in 2017 and the COVID-19 pandemic.
With approximately 38% of the share, tractors account for the largest segment of agriculture equipment in France. Tractors can be rightfully called the backbone of the France agriculture industry.
France is the world’s 5th largest exporter of agricultural tractors and tillage machinery. Agriculture tractors accounted for 98% of the overall France tractors market in 2021. In 2020, France exported $2.9 billion worth of tractors.
France's machinery and equipment (M&E) industry is the world's 3rd largest supplier of machinery. Despite the pandemic situation, the FDI investment in the machinery and equipment sector has attracted foreign investors.
John Deere, New Holland and Fendt dominated the France tractor market with a collective market share of around 50%.
Key Offerings
Market Size & Forecast by Volume| 2022−2028
Market Dynamics – Leading trends, growth drivers, restraints, and investment opportunities
Market Segmentation – Horsepower, drive type, and zone
Competitive Landscape – 5 key Vendors and 7 Other prominent vendors
Segmentation Analysis
Horsepower
Less Than 50 HP
50−100 HP
101−150 HP
151−200 HP
201−300 HP
301−400 HP
ABOVE 400 HP
Drive Type
2-Wheel-Drive
4-Wheel-Drive
Zone
France
North
East
West
South
Vendors Insights
The tractor market in France is highly consolidated. Companies are focusing on increasing their market share, primarily through acquisitions and investments in R&D, along with supply optimization. The threat of rivalry is high in the French agricultural tractor market, with 49.3% of the share belonging to the top players. These players are thriving on innovation in the tractor market. They are increasingly investing in developing advanced agriculture tractor technology for precision farming and machine automation. Leading global players are increasingly investing in developing manufacturing capabilities to cater to the demand for low-end HP tractors. Customers regard John Deere as a reliable and powerful tractor brand.
Key Vendors
John Deere
CNH Industrial
AGCO
Kubota
TAFE
Other Prominent Vendors
SDF
Action Construction Equipments Ltd. (ACE)
Iseki
Deutz-Fahr
Mahindra & Mahindra
Yanmar
The Escorts Group
Explore our industrial machinery profile to know more about the industry.
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Call: +1-312-235-2040
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CONTACT: Arizton Advisory and Intelligence Call: +1-312-235-2040 +1 302 469 0707
