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Chicago, Sept. 22, 2022 (GLOBE NEWSWIRE) -- According to Arizton's latest research report, Canada tractors market to grow at CAGR of around 3.9% during 2022-2027. The less than 50 HP segment held the largest share in the Canada Agricultual tractor market in 2021, followed by the 50-100 HP segment with a share of 21.7%.
The above 100 HP segment contributed the remaining 13.7% share. The penetration and adoption of farm mechanization practices across Canada drive the sale of new tractors. Tractors and agricultural implements are the major product categories of the organized agriculture market in Canada.
Canada Tractors Market Report Scope
| Report Attributes | Details |
| MARKET SIZE (2028) | 43,766 Units |
| MARKET SIZE (2021) | 33,463 Units |
| CAGR (2022-2028) | 3.9% | |
| BASE YEAR | 2021 | |
| FORECAST YEAR | 2022-2028 |
| MARKET SEGMENTS | Horsepower, Drive Type, and Provinces |
| LARGEST SEGMENT BY HORSEPOWER | Less Than 50 HP |
| LARGEST SEGMENT BY ZONE | Prairie Provinces |
| KEY VENDORS | John Deere, CNH Industrial, AGCO, and Kubota |
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In Canada, agricultural tractor registrations increased by 19.4% in 2021 from 2020. In 2021, over 33k units of tractors were registered. Farmers planning to invest in agricultural machinery in the coming months fast-tracked their investment plans due to the expectation of high inflation and low value of financial instruments. Meanwhile, only a few new model vehicles are available in the second-hand market, positively impacting the demand for new tractors. John Deere and New Holland dominated the Canada agricultural tractor market with a collective market share of over 50%. The threat of rivalry is high in the Canada agricultural tractor market since more than 50% of the share belongs to the top-three key players.
The market competition is expected to intensify further during the forecast period with an increase in product/service extensions, technological innovations, and M&As. Arizton believes global players will grow by partnering on a technology-sharing basis with regional or local players in the future. Furthermore, companies with better technical and financial resources can develop innovative products. This could threaten competitors' products and make their products non-competitive or even obsolete before they can recover their R&D and commercialization costs. Therefore, vendors must develop new technologies and remain abreast with upcoming technologies to have a competitive advantage over other vendors.
Key Offerings:
- Market Size & Forecast by Revenue | 2022−2027
- Market Dynamics – Leading trends, growth drivers, restraints, and investment opportunities
- Segmentation – A detailed analysis by horsepower, drive type, and provinces
- Competitive Landscape – 4 Key Company Profiles and 7 Other Prominent Vendors
Less Than 50 HP Tractor Gaining Traction
Less than 50 HP tractor to witness higher growth compared to other segments of the agricultural tractor market in Canada.
Tractors in the less than 50 HP category are compact tractors. These tractors, with their small frames, are ideal for small-scale farmers with relatively higher cropping intensity than marginal farmers. Compact tractors are widely used by farmers engaged in row-crop farming and horticulture. Individuals with a keen interest in growing organic foods at a small level also use these tractors. Small-scale farms require smaller tractors to prepare the soil throughout farms, including corners, effectively.
The Canadian government focuses on increasing agricultural production in the Prairie province due to the higher number of small farmlands in the province, which is likely to increase the potential for below 50 HP tractors due to the nature of crop farming and fragmentation of landholding structures. Therefore, Prairie provinces and Central Canada lead the adoption of below 50 HP tractors.
Key Vendors
- John Deere
- CNH Industrial
- AGCO
- Kubota
Other Prominent Vendors
- Mahindra & Mahindra
- Deutz-Fahr
- KIOTI
- CLAAS Group
- JCB
- Yanmar
- Arbos Group
Market Segmentation
Horsepower
- Less Than 50 HP
- 50−100 HP
- Above 100 HP
Drive Type
- 2-Wheel-Drive
- 4-Wheel-Drive
Regions
- Canada
- Atlantic Provinces
- Central Canada
- Prairie Provinces
- West Coast
Table of Content
1 RESEARCH METHODOLOGY
2 RESEARCH OBJECTIVES
3 RESEARCH PROCESS
4 SCOPE & COVERAGE
4.1 MARKET DEFINITION
4.1.1 INCLUSIONS
4.1.2 EXCLUSIONS
4.1.3 MARKET ESTIMATION CAVEATS
4.2 BASE YEAR
4.3 SCOPE OF THE STUDY
5 REPORT ASSUMPTIONS & CAVEATS
5.1 KEY CAVEATS
5.2 CURRENCY CONVERSION
5.3 MARKET DERIVATION
6 MARKET AT A GLANCE
7 PREMIUM INSIGHTS
8 INTRODUCTION
8.1 OVERVIEW
8.2 VALUE CHAIN ANALYSIS
8.2.1 OVERVIEW
8.2.2 RAW MATERIAL & COMPONENT SUPPLIERS
8.2.3 MANUFACTURERS
8.2.4 DEALERS/DISTRIBUTORS
8.2.5 RETAILERS
8.2.6 END-USERS
8.3 INCREASED ADOPTION OF PRECISION FARMING
8.4 GOVERNMENT SUPPORT TO FARMERS
8.5 ROLE OF MECHANIZATION IN THE AGRICULTURE SECTOR
8.6 AGRICULTURAL LAND HOLDING STRUCTURES
8.7 IMPORT & EXPORT ANALYSIS
8.8 TECHNOLOGICAL ADVANCES
9 MARKET LANDSCAPE
9.1 MARKET OVERVIEW
9.1.1 LABOR SHORTAGE IN THE AGRICULTURE SECTOR
9.2 MARKET SIZE & FORECAST
10 HORSEPOWER
10.1 MARKET SNAPSHOT & GROWTH ENGINE
10.2 MARKET OVERVIEW
10.3 LESS THAN 50 HP
10.3.1 MARKET OVERVIEW
10.3.2 MARKET SIZE & FORECAST
10.3.3 CANADA LESS THAN 50 HP AGRICULTURAL TRACTOR MARKET BY PROVINCE
10.4 50–100 HP
10.4.1 MARKET OVERVIEW
10.4.2 MARKET SIZE & FORECAST
10.4.3 CANADA 50–100 HP AGRICULTURAL TRACTOR MARKET BY PROVINCE
10.5 ABOVE 100 HP
10.5.1 MARKET OVERVIEW
10.5.2 MARKET SIZE & FORECAST
10.5.3 CANADA ABOVE 100 HP AGRICULTURAL TRACTOR MARKET BY PROVINCE
11 DRIVE TYPE
11.1 MARKET SNAPSHOT & GROWTH ENGINE
11.2 MARKET OVERVIEW
11.2.1 MARKET SIZE & FORECAST
11.3 2-WHEEL DRIVE
11.3.1 MARKET OVERVIEW
11.3.2 MARKET SIZE & FORECAST
11.3.3 CANADA 2-WHEEL DRIVE AGRICULTURAL TRACTOR MARKET BY PROVINCE
11.4 4-WHEEL DRIVE
11.4.1 MARKET OVERVIEW
11.4.2 MARKET SIZE & FORECAST
11.4.3 CANADA 4-WHEEL DRIVE AGRICULTURAL TRACTOR MARKET BY PROVINCE
12 PROVINCE
12.1 MARKET SNAPSHOT & GROWTH ENGINE
12.2 MARKET OVERVIEW
12.3 ATLANTIC PROVINCES
12.3.1 MARKET OVERVIEW
12.3.2 MARKET SIZE & FORECAST
12.3.3 CANADA ATLANTIC PROVINCES AGRICULTURAL TRACTOR MARKET BY HORSEPOWER
12.3.4 CANADA ATLANTIC PROVINCES AGRICULTURAL TRACTOR MARKET BY DRIVE TYPE
12.4 CENTRAL CANADA
12.4.1 MARKET OVERVIEW
12.4.2 MARKET SIZE & FORECAST
12.4.3 CENTRAL CANADA AGRICULTURAL TRACTOR MARKET BY HORSEPOWER
12.4.4 CENTRAL CANADA AGRICULTURAL TRACTOR MARKET BY DRIVE TYPE
12.5 PRAIRIE PROVINCES
12.5.1 MARKET OVERVIEW
12.5.2 MARKET SIZE & FORECAST
12.5.3 CANADA PRAIRIE PROVINCES AGRICULTURAL TRACTOR MARKET BY HORSEPOWER
12.5.4 CANADA PRAIRIE PROVINCES AGRICULTURAL TRACTOR MARKET BY DRIVE TYPE
12.6 WEST COAST
12.6.1 MARKET OVERVIEW
12.6.2 MARKET SIZE & FORECAST
12.6.3 CANADA WEST COAST AGRICULTURAL TRACTOR MARKET BY HORSEPOWER
12.6.4 CANADA WEST COAST AGRICULTURAL TRACTOR MARKET BY DRIVE TYPE
13 MARKET OPPORTUNITIES & TRENDS
13.1 DEVELOPMENT OF SMART & AUTONOMOUS TRACTORS
13.1.1 GPS TECHNOLOGY
13.1.2 HIGH DEMAND FOR AUTONOMOUS TRACTORS
13.2 POTENTIAL OF ELECTRIC TRACTORS
13.3 USE OF ALTERNATE FUEL-BASED TRACTORS
14 MARKET GROWTH ENABLERS
14.1 FISCAL SUPPORT TO FARMERS THROUGH LOANS & SUBSIDIES
14.2 INCREASED FARM MECHANIZATION
14.3 INCREASED AGRICULTURAL PRODUCTIVITY & EXPORTS
14.3.1 AGRICULTURAL EXPORTS
15 MARKET RESTRAINTS
15.1 CLIMATE CHANGE IMPACT ON AGRICULTURAL ACTIVITIES
15.2 FLUCTUATIONS IN RAW MATERIAL COSTS
15.2.1 COST TO MANUFACTURERS
15.2.2 COST TO FARMERS
15.3 HIGH DEMAND FOR USED & RENTAL TRACTORS
15.4 FIVE FORCES ANALYSIS
15.4.1 THREAT OF NEW ENTRANTS
15.4.2 BARGAINING POWER OF SUPPLIERS
15.4.3 BARGAINING POWER OF BUYERS
15.4.4 THREAT OF SUBSTITUTES
15.4.5 COMPETITIVE RIVALRY
16 COMPETITIVE LANDSCAPE
16.1 COMPETITION OVERVIEW
16.1.1 RECENT DEVELOPMENTS BY TOP BRANDS
16.1.2 BRAND LOYALTY
16.1.3 SALES & EXPORTS
17 KEY COMPANY PROFILES
17.1 JOHN DEERE
17.1.1 BUSINESS OVERVIEW
17.1.2 JOHN DEERE IN THE AGRICULTURAL TRACTOR MARKET
17.1.3 PRODUCT OFFERINGS
17.1.4 KEY STRATEGIES
17.1.5 KEY STRENGTHS
17.1.6 KEY OPPORTUNITIES
17.2 CNH INDUSTRIAL
17.2.1 BUSINESS OVERVIEW
17.2.2 CNH INDUSTRIAL IN THE AGRICULTURAL TRACTOR MARKET
17.2.3 PRODUCT OFFERINGS
17.2.4 KEY STRATEGIES
17.2.5 KEY STRENGTHS
17.2.6 KEY OPPORTUNITIES
17.3 AGCO
17.3.1 BUSINESS OVERVIEW
17.3.2 AGCO IN THE AGRICULTURAL TRACTOR MARKET
17.3.3 PRODUCT OFFERINGS
17.3.4 KEY STRATEGIES
17.3.5 KEY STRENGTHS
17.3.6 KEY OPPORTUNITIES
17.4 KUBOTA
17.4.1 BUSINESS OVERVIEW
17.4.2 KUBOTA IN THE AGRICULTURAL TRACTOR MARKET
17.4.3 PRODUCT OFFERINGS
17.4.4 KEY STRATEGIES
17.4.5 KEY STRENGTHS
17.4.6 KEY OPPORTUNITIES
18 OTHER PROMINENT VENDORS
18.1 DEUTZ-FAHR
18.1.1 BUSINESS OVERVIEW
18.1.2 PRODUCT OFFERINGS
18.2 MAHINDRA & MAHINDRA
18.2.1 BUSINESS OVERVIEW
18.2.2 PRODUCT OFFERINGS
18.3 KIOTI
18.3.1 BUSINESS OVERVIEW
18.3.2 PRODUCT OFFERINGS
18.4 CLAAS GROUP
18.4.1 BUSINESS OVERVIEW
18.4.2 PRODUCT OFFERINGS
18.5 JCB
18.5.1 BUSINESS OVERVIEW
18.5.2 PRODUCT OFFERINGS
18.6 YANMAR
18.6.1 BUSINESS OVERVIEW
18.6.2 PRODUCT OFFERINGS
18.7 ARBOS GROUP
18.7.1 BUSINESS OVERVIEW
18.7.2 PRODUCT OFFERINGS
19 REPORT SUMMARY
19.1 IMPACT OF COVID-19 ON THE CANADIAN AGRICULTURE SECTOR
19.2 KEY TAKEAWAYS
19.3 STRATEGIC RECOMMENDATIONS
20 QUANTITATIVE SUMMARY
20.1 HORSEPOWER
20.2 DRIVE TYPE
20.3 PROVINCE
21 APPENDIX
21.1 ABBREVIATIONS
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