The "UK Tractors Market Industry Analysis and Forecast 2022-2028" report has been added to ResearchAndMarkets.com's offering.
The 141-200 HP segment accounted for the largest share in 2021. The country needs to boost its production capacity to feed its ever-growing population, which stood at 68.2 million in 2021. The production of major crops in the country increased in 2018 and is expected to grow during the forecast period continuously. This increase can be attributed to farmers relying on farm mechanization and improving their crop production by reducing the yield gap.
Key Highlights
- The UK was the fourth-largest tractor market in Europe in 2021, with an overall sale of 13,572 units. There was an increase in crop production and tractor sales in 2021 due to incentives and loans offered to farmers by the UK government, which helped the country to recover from the COVID-19 pandemic.
- England and Scotland region of the country reportedly showed a higher market share for agriculture machinery than other regions in 2021. England region is expected to witness the highest growth during the forecast period.
- UK tractor registrations are a broad indicator of the strength of the domestic market for agricultural equipment. In value terms, the cost of tractors, plus parts and accessories, accounts for almost 50% of farmers' spending on equipment, making this a prime indicator for industry growth.
Market Trends Opportunities
- There is a trend of feminization of agriculture due to the migration of men to urban cities in the UK agriculture sector, which drives the demand for tractors and other agricultural machinery to perform farming activities.
- The trend of alternative fuel-based tractors is growing in the country. Farmers are more fuel-conscious and moving toward green farming. Also, agriculture is expected to flourish with the help of precision farming and telematics in tractors, which bodes well for the country's agriculture tractor market.
- The Positive Agriculture project aims to improve the living conditions of those who are part of the agricultural supply chain and to provide 100% of the essential raw materials sustainably.
- There is a rapid increase in innovation and extensive use of robotics and AI worldwide. The current way of farming will likely be revolutionized using autonomous machinery and agricultural robots, which will perform time-consuming tasks much more efficiently and effectively.
- Several original equipment manufacturers (OEMs) shifted their focus from matured markets in England to the underpenetrated states of Scotland. The agriculture farm machine market is currently in the growth stage, and manufacturers are looking for capacity augmentation in the country. The Wales region still has negligible farm mechanization, and vendors can explore these regions with a portfolio of small tractors suitable for hilly terrains.
Key Questions Answered:
1. What is the growth rate of the UK Tractor Market?
2. What are the expected units to be sold in the UK tractors market by 2028?
3. Who are the Key Players in the UK Tractor Market?
4. Which wheel drive tractors hold the largest market shares in the UK region?
5. Which companies will dominate the UK tractor market share?
Market Segmentation
The research report includes a detailed segmentation by HP type, wheel drive, and countries.
The 141-200 HP segment witnessed the highest growth of 33.1% in 2021 and is expected to ascend more during the forecast period.
The UK agriculture tractor market is segmented based on the HP it can generate. The younger generation of farmers understands the difference between the power output of an unencumbered engine and the power that transmits through a PTO shaft. Farmers know that tractors in the same HP range can provide varying HP in the PTO shaft. Such factors make potential buyers look for other options and make informed purchase decisions.
Tractors in the power range of 141-200 HP were the most substantial contributors to the market's growth in the UK in 2021 and are expected to grow with the same trend.
Some factors that favor the sales in the 141-200 HP range are as follows:
- Versatility
- Presence of hard soil in the England region the of UK
- Increase in purchasing power of farmers due to better Minimum Support Price (MSP) and crop realization
Segmentation by Horsepower
- Less than 50 HP
- 50-100 HP
- 101-140 HP
- 141-200 HP
- 201-240 HP
- Above 240 HP
2WD Segment Dominated the UK Tractor Market
Market players redesign their 2WD tractors with more power and features so that farmers can upgrade their tractors as per their requirements. Features like fuel efficiency added comfort for operations in confined spaces, and better light has helped the 2WD segment dominate the industry. Thus, manufacturers now customize their products according to the market and end-user requirements.
The 2-wheel drive segment dominated the UK farm tractor market, and the trend is expected to continue during the forecast period.
Some reasons behind the popularity of the 2WD category are as follows:
- Conventional choice of farmers
- Low cost of ownership
- Availability of spare parts
Segmentation by Drive Type
- 2-Wheel-Drive
- 4-Wheel-Drive
by Regions
- England
- Wales
- Scotland
- Northern Ireland
Key Vendors
- John Deere
- CNH Industrial
- AGCO
- Kubota
Other Prominent Vendors
- Same Deutz-Fahr
- JCB
- TAPE
- Foton
- Iseki
- Yanmar
- Arbos Group
For more information about this report visit https://www.researchandmarkets.com/r/gmp2ob
View source version on businesswire.com: https://www.businesswire.com/news/home/20221107005664/en/
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