Chicago, Sept. 08, 2022 (GLOBE NEWSWIRE) — According to Arizton’s latest research report, the UK tractor market is expected to grow at a CAGR of 3.7% over the period 2022-2027. The under 50hp segment of the UK agricultural tractor market registered 1,812 units in 2021 and is expected to reach 2,416 units by 2028, growing at a CAGR of 4.2% during the forecast period.
The penetration and adoption of agricultural mechanization practices across the UK is driving the sale of new tractors. Tractors and agricultural implements are the main product categories in the organized farming market in the UK.
Scope of the UK Tractor Market Report
|MARKET SIZE (2027)||Over 17,000 units|
|MARKET SIZE (2021)||13,572 Units|
|YEAR OF REFERENCE||2021|
|MARKET SEGMENTS||Power, drive type and regions|
|LARGEST SEGMENT BY POWER||141-200 HP|
|LARGEST SEGMENT BY REGION||England|
|KEY SUPPLIERS||John Deere, AGCO, CNH Industrial and Kubota|
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The introduction of autonomous tractors is a major threat to farmers. Autonomous tractors will not replace human farmers but will help them in farming and increase productivity and operational efficiency, according to CNH officials. Additionally, most of the tasks that farmers and farmhands perform today are unrelated to the tasks that autonomous tractors are being developed for.
It is estimated that the price of an autonomous tractor is 40-50% higher than the price of a conventional tractor. Thus, affordability will be a major challenge for farmers. However, self-driving tractors will deliver better returns for UK farmers in the future.
A labor shortage is observed in the UK agricultural sector for several reasons. Lack of incentives, migration to other countries for employment and extreme working conditions are the main reasons for this. Rural youth in the UK are no longer interested in farming and are migrating to cities to explore new opportunities. The aging of the workforce also contributes significantly to the labor shortage.
Income and growth opportunities in the non-agricultural sector, low wages in the agricultural sector, and extreme working conditions reduce the percentage of the total labor force engaged in agriculture. The drastic shortage of agricultural labor will increase the demand for agricultural machinery, such as tractors.
- In 2021, the UK 141-200 HP segment saw strong growth. The main factor for the constant growth of the line of medium-power tractors is the increase in the turnover of farmers. The sales of tractors over 240 HP in the country are expected to remain stable over the forecast period as agricultural sales are likely to remain the same in the coming years.
- The UK government is increasingly focusing on sustainability. In November 2020, the government proposed a detailed plan to focus on clean energy, reducing emissions and protecting the environment. Therefore, this is likely to provide growth opportunities for tractors that reduce environmental impact, such as electric or battery-powered tractors.
- Government strategies to improve the welfare of farmers by converting farming into a viable business are paving the way for the purchase of new tractors. Awareness of advanced agricultural equipment to improve yield per hectare, reduce the overall cost of agricultural production and increase farmers’ income is driving sales of new tractors in the UK.
- As farming and digital technology converge in the UK, new pathways to a smart farming future are becoming available. Several technologies, including GPS technology and self-driving or self-driving tractors, will enable smart farming. Farmers can work fewer hours with self-driving or self-driving tractors. However, the potential for data monitoring is enormous.
- John Deere
- CNH Industrial
Other Important Suppliers
- Same Deutz-Fahr
- Arbos Group
- Less than 50 HP
- 50–100 HP
- 101-140 HP
- 141-200 HP
- 201-240 HP
- Above 240 HP
- 2 wheel drive
- 4 wheels driving
- North Ireland
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