Global Tractor Implements Market 2021 (Includes Business Impact of COVID-19)

                                          
Report updated on 11th September, 2021: Global Tractor Implements Market 2021 (Includes Business Impact of COVID-19)
Global Tractor Implements Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2030 is a recent report generated by Trusted Business Insights. The global tractor implements market report has been segmented on the basis of phase, power, drive, and region.
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The global Tractor Implements market size was valued at USD$ 61.29 billion in 2020 and is projected to reach $106.67 billion by 2030, and is anticipated to expand at a CAGR of 5.69% over the forecast period from 2020 to 2030.


Global Tractor Implements Market: Overview


Tractor implements are used for efficient performance of processes and mechanized operations in agricultural production. The units can be simple, complex, or combined. The simple unit performs single operation whereas the combined unit consists of separate machines and performs two different operations at a time. In case of complex unit, two or more operations can be performed using single machine. Various implements used with tractor are scrape blades, landscape rakes, rotary rakes, spreaders, scoops, cultivators, disc mowers, rotary tedders, bottom plows, disc harrows, boom poles, estate & flail mowers, rotary mowers, tillovators, trailer movers, sprayers, quick hitches, and many others.


Global Tractor Implements Market: Dynamics


Increasing demand for irrigation & crop protection owing to improve efficiency, reduce time consumption and post-harvest operational losses is a major factor expected to drive growth of the global tractor implements market in the years to come. Additionally, rising demand for food across the globe, increasing demand for powered implements and 4-wheel drive tractors owing to its associated properties are among some factors expected to fuel growth of the potential market over the long run. Moreover, rapid urbanization, high labor cost, and decline of agricultural employment are factors anticipated to support growth of the target market in the next 10 years.

However, high cost of equipment owing to integration of new technologies is a factor which may hamper demand for tractor implements and restrain growth of the target market.

Government initiatives and development of innovative technologies for smart and efficient farming practices are expected to offer new opportunities for manufacturers operating in the target market.


Global Tractor Implements Market: Segment Analysis


Among the phase segments, the irrigation & crop protection segment is expected to register highest growth in terms of value in the target market, owing to increasing demand for convenience food.

Among the power segments, the powered segment is expected to account for highest share in terms of revenue in the target market, owing to shifting preference of consumers towards vegan diet.

Among the drive segments, the 4-wheel-drive segment is projected to register significant share in terms of revenue in the target market, due to its increasing demand in baking applications.


Global Tractor Implements Market: Region Analysis


The tractor implements market in Asia Pacific is expected to account for highest share contribution in terms of revenue in the target market and projected to maintain its dominance in the next coming years. Growing agriculture industry, increasing population, and rising demand for food across the globe are factors anticipated to drive growth of the tractor implements market in the Asia Pacific region. The Asia Pacific tractor implements market is projected to grow at a faster rate in the target market in the next coming years owing to increasing government initiatives, coupled with rising demand for new and mechanized techniques for farming in countries in the region. The Europe market is projected to register moderate growth in terms of revenue in the target market.


Below are the active patents related to Tractor Implements Market.


Patent Number: US8359988B2

Agricultural tillage device

Abstract

An agricultural implement for tilling at least a strip of soil to be planted includes a tillage device for penetrating and tilling a strip of soil and displacing soil and residue upwardly, the tillage device including at least one coulter wheel mounted for rotation about a first axis of rotation and positioned at least in part below the soil, when tilling the strip of soil, such that the coulter wheel is able to cut a slit in the soil, and a depth control device laterally offset from the centerline of the strip of soil and mounted for rotation about a second axis of rotation located rearwardly of the trailing end of the tillage device. The depth control device is positioned to intercept soil and residue displaced upwardly by the tillage device. Multiple tines made of a polymeric material are mounted on the depth control device, extending laterally away from only one side of the depth control device toward the centerline to intercept a portion of the soil and residue displaced upwardly by the tillage device.

Application File Date: 2010-10-28

Application Granted Date: 2013-01-29

Current Assignee: Dawn Equipment Co

Patent Number: US20150129255A1

Lift system for an agricultural tillage implement

Abstract

An agricultural tillage implement includes a main section including a hitch extending in a travel direction, a plurality of foldable wing sections coupled with the main section, a plurality of ground engaging tilling elements, and a plurality of lift and gauge wheel lift mechanisms. The tilling elements are coupled to the main section and wing sections. Each of the lift and gauge wheel lift mechanisms has a rear lift wheel actuator and a front gauge wheel actuator. A control system is configured to independently actuate the rear lift wheel actuators and the front gauge wheel actuators to control a depth of tilling elements in each of the sections when the implement is in a field configuration, and to level the implement front to rear and side to side.

Application File Date:2014-11-13

Application Granted Date: 2018-03-27

Current Assignee: CNH Industrial Canada Ltd

Global Tractor Implements Market Segmentation:

Segmentation on the Basis of Phase:

  
Tillage
  
Irrigation and Crop Protection
  
Sowing and Planting
  
Harvesting and Threshing
  
Others (loading, packing, and on-field processing equipment)

Segmentation on the Basis of Power:

  
Powered
  
Unpowered

Segmentation on the Basis of Drive:

  
2-wheel Drive
  
4-wheel Drive


Key Market Players included in the report:


  
Actuant
  
Agco Corporation
  
Alamo Group Inc.
  
Bucher Industries (Kuhn Group)
  
CLAAS KGaA GmbH
  
CNH Industrial N.V.
  
Deere & Company (US)
  
Enerpac Tool Group
  
J C Bamford Excavators Ltd. (JCB)
  
Kubota Corporation (Japan)
  
Mahindra and Mahindra (India)
  
SDF (Italy)
  
Tractors and Farm Equipment Limited (TAFE)


Below are the key development related to Tractor Implements Market in 2020 and 2021.


June 2021: Ideanomics acquires EV tractor manufacturer Solectrac. Minority stakeholder Ideanomics has announced that it has now acquired 100% of Solectrac, a zero-emission tractor manufacturer based in the US. With the full acquisition, Ideanomics plans to continue to support Solectrac in scaling toward becoming a global supplier of clean agricultural equipment. Source

October 2020: Alta Acquires Howell Tractor and Equipment, Expanding Presence in Midwest Construction Market. Alta Equipment Group Inc. added to its growing acquisition empire by entering into a definitive agreement to acquire Howell Tractor and Equipment LLC., a privately held heavy equipment dealer serving Northern Illinois and Northwest Indiana. Alta Equipment Group Inc. this week added to its growing acquisition empire by entering into a definitive agreement to acquire Howell Tractor and Equipment LLC., a privately held heavy equipment dealer serving Northern Illinois and Northwest Indiana. Howell Tractor has an expansive range of heavy construction, mining, material handling, and crane equipment available for sale or rent to its premium customer base.