China Agriculture Tractor Market Research Report, 2029

China’s agricultural sector plays a crucial role in feeding its massive population and supporting its economy. Agricultural tractors are a vital component of modern farming practices, aiding in the efficient execution of various tasks such as ploughing, planting, and harvesting. The Chinese agricultural tractors market encompasses the production, sales, and utilization of these machines within the country. The growing preference for farm mechanization and an increase in the number of government-funded policies are promoting the market's growth. China has introduced the 'Made in China 2025' scheme, which aims at focusing on producing its own agricultural equipment with high-end machines, like agricultural tractors, holding a one-third share of their segments by 2020. This, in turn, boosts indigenously produced tractors leading to the growth of the agricultural tractor market in the country. Agricultural mechanization is essential to increase farmers' income in modern agriculture. However, the use of machinery for crop production in China is quite inefficient. China's first hydrogen fuel-cell electric tractor was launched Tuesday by the National Institute of Agro-machinery Innovation and Creation (CHIAIC) in Luoyang in the central province of Henan. International Tractors (ITL), the flagship firm of Sonalika Group and the third-largest tractor manufacturer in the country, announced its joint venture (JV) with Shandong Luyu Heavy Industry Co. Shandong Luyu Heavy Industry, located at Laizhou Shahe Industrial Park of Shandong province. With this joint venture, Shandong Luyu will be able to expand its product line up & offer ITL's range of tractors in the Chinese market. The joint venture will also accumulate the engines for the wheel loader application for captive consumption & other wheel loader construction machinery manufacturers in Beijing. According to the research report "China Agriculture Tractor Market Research Report, 2029," published by Actual Market Research, the China Agriculture Tractor market is expected to reach market size more than USD 17 Billion by 2029. Increasing disposable incomes in China lead to higher food demand, pressuring farmers to maximize production, where tractors become crucial productivity enhancers. Farmers are increasingly opting for larger, more powerful tractors to handle extensive land areas. Advanced features like GPS guidance and precision farming technology are gaining traction among tech-savvy farmers. Online platforms are rapidly transforming tractor and machinery sales, offering convenience and wider reach. The Chinese agricultural tractor market, despite its challenges, holds immense potential for future growth. With continued government support, technological advancements, and adaptation to changing market dynamics, the industry is poised to thrive, transforming China's agricultural landscape. The agricultural tractors market in China is moderately consolidated, with very few players cornering most of the market share. Deere & Company, CNH Industrial NV, AGCO Corporation, Kubota Corporation, and YTO Group Corporation are some of the major players operating in this market. New product launches, partnerships, and acquisitions are the major strategies adopted by the leading companies in the market in the country. Along with innovations and expansions, investments in R&D and developing novel product portfolios will likely be crucial strategies in the coming years. These companies are making strategic partnerships by partnering with domestic companies to expand their distribution network and launch new innovative tractors that cater to the needs of the farmers in this region.

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Based on the Engine Power, the market is divided into 30 HP, 30 HP - 100 HP, 100 HP - 200 HP, and Above 200 HP. In China, the market for agricultural tractors with less than 30 horsepower is becoming more significant. Small-scale farming enterprises are widespread in China, especially in rural and peri-urban areas. These little farms are a good fit for tractors less than 30 horsepower because of their cost, portability, and small size. In smaller fields and orchards, they are capable of carrying out a range of duties with efficiency, including transportation, planting, tilling, and ploughing. In China, a large number of farmers practice subsistence farming, growing mostly food for their own use or the needs of nearby markets. These small-scale farmers have access to affordable and practical mechanization with tractors fewer than 30 horsepower, which helps them, boost output, cut down on labour costs, and enhance their standard of living. Based on the Drive Type, the market is divided into 2WD, 4WD. In China's agricultural tractor market, the 4WD (Four-Wheel Drive) segment is becoming more and more significant. Mechanization of China's agricultural industry is happening quickly in order to boost production, efficiency, and competitiveness. Demand for tractors with cutting-edge technologies like four-wheel drive capability is rising as farmers switch from conventional manual farming methods to mechanized farming operations. Better traction, power distribution, and performance are provided by 4WD tractors, which make them appropriate for a variety of agricultural activities in a range of field conditions. Based on the Level of Autonomy, the market is divided into Manual Tractor Vehicle, Autonomous Tractor Vehicle. The Chinese agriculture tractor market is seeing a rise in the significance of the Manual Tractor Vehicle (MTV) sector. Traditional farming practices and methods are still common in many Chinese rural communities. Farmers can work the land with a dependable and comfortable equipment thanks to manual tractors, which are in line with these traditional methods and cultural preferences. Farmers continue to favour manual machinery over more automated alternatives because they value the sense of control and hands-on experience that manual tractors provide.

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Kripa Shah

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Based on the Application the market is divided into Harvesting, Seed Sowing, Spraying, Others. The agricultural tractor industry in China is seeing a surge in importance for the harvesting segment. China is experiencing a severe labour shortage in agriculture as a result of growing urbanization and an aging rural population. This makes manual harvesting costly and ineffective, especially when combined with growing salaries. The Chinese government has put in place a number of laws and incentives to promote the use of cutting-edge farm equipment, such as harvesting tractors, since it understands the value of modernizing agriculture. This covers grants for equipment purchases as well as technical developments in tractor functionality and design. Considered in this report: • Geography: China • Historic year: 2018 • Base year: 2023 • Estimated year: 2024 • Forecast year: 2029 Aspects covered in this report: • China Agriculture Tractor market with its value and forecast along with its segments • Various drivers and challenges • On-going trends and developments • Top profiled companies • Strategic recommendation

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By Engine Power: • Below 30 HP • 30 HP – 100 HP • 100 HP – 200 HP • Above 200 HP By Drive Type: • 2WD • 4WD By Level of Autonomy: • Manual Tractor Vehicle • Autonomous Tractor Behaviour By Application: • Harvesting • Seed Sowing • Spraying • Others The approach of the report: This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and list out the companies that are present in the market. The secondary research consists of third-party sources such as press releases, and annual reports of companies, analyzing the government-generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducting trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers into regional aspects, tier aspects, age groups, and gender. Once we have primary data with us we started verifying the details obtained from secondary sources. Intended audience: This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to the Agriculture Tractor industry, government bodies, and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.