Yahoo Finance The Sale of the Brazil Tractor Market to Cross 62k Units by 2028. Autonomous & GPS Enabled Tractors Creating a Buzz in the Market – Arizton
Brazil tractor market was estimated to register 44,836 units in 2021 and is expected to reach 62,033 units by 2028.
Chicago, May 17, 2022 (GLOBE NEWSWIRE) -- According to Arizton’s latest research report, the Brazil tractor market will grow at a CAGR of 4.7% during 2022-2028. Increasing focus on smart & autonomous tractors, growing farm mechanization to reduce the workforce, and introduction of alternative fuel-based tractors are the major drivers in the market.
GPS technology on tractors and other equipment helps farmers with field mapping, soil sampling, and crop scouting. It also allows them to work during low visibility field conditions such as rain, dust, and fog and maximize efficiency.
Brazil Tractor Market Report Scope
Report Attributes | Details | |
MARKET SIZE (2028) | 62,033 Units | |
MARKET SIZE (2021) | 44,836 Units | |
CAGR (2021-2028) | 4.7% | |
FORECAST YEAR | 2022-2028 | |
MARKET SEGMENTS | Horsepower, Drive Type, and Zone | |
LARGEST SEGMENT BY ZONE | SOUTH | |
LARGEST SEGMENT BY DRIVE TYPE | 2 Wheel Drive | |
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Increasing Investment by International Manufacturers
In recent years, farmers had the option to choose agricultural products that fulfilled their needs to the maximum. Small farmers have the option to choose lower HP tractors, and large agriculture corporations can easily opt for higher HP tractors. International vendors that started investing in Latin America also brought their expertise in the field of agriculture equipment. These players utilize their global presence and capabilities to invest in research and development to innovate traditional farming activities. Innovative agriculture technologies and products help farmers to increase yield from the same acreage of land that they had harvested before.
Brazil and Mexico have witnessed several investment programs carried out by tractor manufacturers in the form of joint ventures and acquisitions. The investment in the agriculture machinery industry is significantly driving the sale of tractors in the region. The presence of internationally established brands instills a factor of confidence and trust among customers.
Key Highlights
The 2-Wheel-Drive segment accounted for more than 90% of the overall tractor market. The 50-100 HP segment accounted for the largest market share and is expected to grow at a CAGR of 4.91% (by volume) during the forecast period.
With approximately 70% share, tractors are the largest segment of agricultural equipment in Brazil in terms of revenue. In addition, in terms of unit sales, Brazil is the largest exporter of tractors in South America. The number of tractors manufactured in Brazil accounts for over one-third of the total number of tractors manufactured in South America.
The Government of Brazil'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 Brazil agricultural sector. Brazil being one of the major countries in South America, the market scenario is expected to change and is likely to post growth from 2020 due to an improvement of the country’s economy.
The percentage of the population engaged as a workforce in the agriculture sector reduced from over 59% in 1991 to 45% in 2020 and is expected to reduce to 40% by 2023 and a further decline to less than 30% by 2030, this will increase the demand for more agricultural equipment in the country.
The Brazilian market witnessed an unexpected rise in tractor sales in 2020 and maintained it until now. This led to a sudden rise in single-day registration numbers of tractors. Interestingly, the highest growth in the Brazil tractor market was seen in the medium HP power segments.
The key players in the Brazil agriculture tractor market are AGCO, CNH Industrial, and John Deere. In terms of units sold, AGCO and CNH are the market leaders accounted for more than 50% of the overall Brazilian agriculture tractors market in 2021.
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
Market Segmentation
Horsepower
Less Than 50 HP
50-100 HP
101-150 HP
151−250 HP
Above 250 HP
Drive Type
2-Wheel-Drive
4-Wheel-Drive
Zone
Brazil
North
Northeast
Southeast
South
Central-West
Vendor Analysis
Key Vendors
AGCO
CNH Industrial
John Deere
TAFE
Kubota
Other Prominent Vendors
SDF
Action Construction Equipments Ltd (ACE)
Iseki
Deutz-Fahr
Mahindra & Mahindra
Yanmar
Escorts
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About Arizton:
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We offer comprehensive market research reports on industries such as consumer goods & retail technology, automotive and mobility, smart tech, healthcare, and life sciences, industrial machinery, chemicals, and materials, IT and media, logistics and packaging. These reports contain detailed industry analysis, market size, share, growth drivers, and trend forecasts.
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Call: +1-312-235-2040
+1 302 469 0707
CONTACT: Arizton Advisory and Intelligence Call: +1-312-235-2040 +1 302 469 0707
