Tractors Industry to Grow 6.8 % Annually by 2016 Says a New Research Report at RnRMarketResearch.com

"World Tractors to 2016” report says the global tractors market demand value is expected to increase by $122 billion. A moderation in industry sales growth in many developing countries - particularly Brazil, China, and India - will counterbalance a strong recovery in the US, Western Europe, and Japan from the effects of the 2008-2009 global economic recession.

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Dallas, Texas (PRWEB) February 27, 2013

Demand for tractors in the Asia/Pacific region will be more than twice that of any other region in 2016, with China alone comprising 31 percent of the global total. Healthy population increases and economic growth in China and other developing Asian nations like India and Thailand will drive an expansion in construction activity in these countries and place heightened pressure on their agricultural sectors to become more efficient and productive, boosting associated tractor sales. Central and South America will post strong sales gains as well, due primarily to the large and increasingly mechanized agricultural sectors in Brazil and Argentina.

In the mature markets of the industrialized world, sales of tractors will continue to be largely determined by demand for replacement machinery and the efficiency gains provided by newer, more sophisticated equipment. During the 2008-2009 economic crisis, many tractor operators in the agriculture, mining, and construction sectors delayed replacing older machinery, and the inherent time lag in each of these markets in response to improving economic circumstances will govern tractor sales growth patterns going forward. While the mining and construction sectors tend to respond more slowly to changes in economic conditions due to the large amounts of capital that must be committed, the agricultural sector usually responds much more quickly. As a result, 2011 was the beginning of a spike in demand for agricultural tractors in many developed nations, while sales of mining and construction tractors had not yet rebounded to the same extent. This release of pent-up demand will act as a restraint on market growth for a number of years, until the start of a new replacement cycle.

Agricultural tractor sales to retain largest product share
Agricultural tractors will continue to account for the largest share of product sales in 2016, followed by tractors for construction and mining applications. However, due primarily to high 2011 levels of demand and the timing of replacement cycles in the US, Japan, and Western Europe, global agricultural tractor sales growth will slow through 2016. Greater construction expenditures and mining output in many areas of the world — including the US, China, and India — will drive healthy gains in these market segments.

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Company Profiles
Company Profiles for 40 global Industry competitors including AGCO, caterpillar, CNH Global, John Deere, Komatsu, Altai Motor Plant JSC, Briggs & Stratton Corporation, Changzhou Dongfeng Agricultural Machinery Group, Chelyabinsk Tractor Plant-Uraltrac Limited, China Foma Group, China National Machinery Industry Corporation, China SINOMACH Heavy Industry, Daedong Industrial Company Limited, Daedong Industrial Company Limited, Doosan Infracore Company Limited, Escorts Limited, Fiat Industrial, Foton Lovol International Heavy Industries Company Limited, GIMA, Goldhofer, HTC holdings, Husqvarna, Hyundai Heavy Industries Company Limited, Iseki & Company Limited, Jiangsu World Agricultural Machinery, JCB Limited, John Bean Technologies Corporation, Jonsered, Kubota Corporation, Kurganmashzavod JSC, Liebherr-International, Lonking Holdings Limited, MAFI Transport-Systeme, Mahindra & Mahindra Limited, McCormick France, MTD Products Incorporated, Perkins Engines, Promtractor JSC, Same Deutz-Fahr Group, SCHOPF Holding, Shandong Changlin DEUTZ-FAHR Machinery, Deutz-Fahr, Shandong Engineering Machinery, SIAM KUBOTA, SIAM KUBOTA, Toro Company, Tractors and Farm Equipment Limited, Trepel Airport Equipment, TUG Technologies Corporation, Vietnam-Uraltrac Construction Machinery, Vladimir Motor-Tractor Works JSC, Volvo AB, World Heavy Industry, Xuzhou Construction Machinery Group Company Limited, Yanmar Company Limited, ZETOR TRACTORS & Zoomlion Heavy Industry Science and Technology.

Additional Information
This study analyzes global supply and demand for off-highway tractors. Tractors are defined as self-propelled machinery designed with the primary purpose of providing a high tractive effort at low speed in order to push or pull an attached implement or trailer. The specific products covered are:

Agricultural tractors & tractors used in the construction and mining industries, including angle dozers, backhoe loaders, bulldozers, wheel loaders, graders, scrapers, and skid-steer loaders.

Tractors used in commercial and/or consumer applications, including lawn and garden tractors, compact and subcompact utility tractors, and compact loaders.

Other tractor units, including push back and baggage tractors used at airports and tractors used in ports for material handling purposes.

Excluded from the scope of the study are all tractors used for transportation purposes, including road tractor-trailer units and railway tractors.

Also excluded is machinery designed primarily to provide power in a different way — such as excavators, telehandlers, or compactors — even if that machinery can be used in a secondary manner to push or pull an implement. To distinguish them from riding lawnmowers, lawn and garden tractors are defined as units with a seat and a frontally mounted engine, regardless of whether the unit features a fixed cutting deck.

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