DUBLIN--(BUSINESS WIRE)--The "Australia Tractors Market - Industry Analysis & Forecast 2022-2028" report has been added to ResearchAndMarkets.com's offering.
The Australia tractors market is expected to grow at a CAGR of 3.43% during 2022-2028.
Australia has over 25.8 million food consumers and is one of the largest food markets in Oceania. The country has witnessed a massive increase in farm mechanization in terms of agricultural and industrial productivity. In 2021, the 50-100 HP segment accounted for the largest share due to flexible operation capabilities.
The Government schemes and initiatives to facilitate credit and improve agriculture-related operations are the major drivers contributing to the Australian agricultural tractors market growth. In September 2020, the country's agricultural ministry announced the national agricultural innovation policy statement, an essential component of the Australian Government's National Agricultural Innovation Agenda. A world-class agricultural innovation system is a priority for the Australian government and a key component of Delivering Ag2030, which supports the industry's target of a USD 100 billion sector by 2030.
- The Australian agriculture tractor market grew by 33.3% in 2021 compared to 2020. The increase in crop production and tractor sales was due to favorable monsoon rains in 2020 and 2021, which helped to recover post-COVID-19 pandemic
- Regarding agricultural acreage, the country is one of the second largest countries in the APAC region. Arable land covers 30.9 million hectares of the total land in the country and makes it a growing market.
- With the share of agricultural exports growing relatively slowly, the Australian government is working on measures to double the quantity and revenues from agricultural products exported by 2025. The government is identifying regions according to their current production of export foods and their potential to increase production with the help of new institutional reforms.
- The farmers in Australia are wealthy and have sufficient money to invest in agricultural machinery such as tractors. In addition, the farmers in the country also benefit from easy credit loans for purchasing agriculture machinery.
- In 2020, the country imported USD 1.01 billion worth of tractors, of which the U.S. accounted for 37.8% of the imports, followed by Germany.
- The Australia agricultural machinery market exports about one-third of its products. Wheat is grown on about one-third of Australia's agricultural land; Wheat is the leading crop with a share of around 58%, followed by barley and canola.
- In 2020, the country exported USD 39.6 million worth of tractors, of which New Zealand accounted for a 70.0% share of the overall exports of tractors from Australia, followed by Bolivia and Peru.
Technologies Across Agricultural Equipment in the Australia Tractor Market
- Telematics enables the agriculture tractor driver or operators to closely monitor their fleet of vehicles and trucks through use of a GPS tracker. It captures data from farm equipment operating in a field and transfers it to the internet in real-time.
- Robotic seeding and weeding technology help identify the correct quantity of pesticides required by a crop. It is incredibly accurate and reduces pesticide usage by 90%. It helps the farmers to control and prevent herbicide-resistant weeds.
- AI helps to analyze plant health, soil condition, temperature, humidity, etc. It allows the farmers to make better decisions by interpreting the field's environment data collected with the help of sensors.
Opportunities & Trends
- Technological Advances in Tractors
- Gps Technology
- Growing Demand for Autonomous Tractors
- Increasing Use of Non-Conventional Fuel in Tractors
- Increasing Potential for Electric Tractors
- Financial Support to Farmers Through Loans & Subsidies
- Reducing Workforce to Boost Farm Mechanization
- Growth in Agricultural Productivity & Exports
- Agricultural Exports
- Farmers Unaware of Latest Innovations in Agricultural Equipment
- Low Levels of Education Among Farmers in Emerging Countries
- Resource Scarcity of Small and Medium Farmers
- Rising Demand for Used & Rental Tractors
- Declining Commodity Prices
- John Deere and Case IH dominate the Australia tractors market with a collective market share of over 30%. The threat of rivalry is high in Australia agriculture tractor market since more than 40% of the share belongs to the top three key players.
- John Deere offers new Electric Variable Transmission for select 8 Series Tractors new JD14X engine for 9 Series; EVT enables electric power generation, a way the industry will leverage power produced by the tractor for its implements in the future.
- CNH Industrial partnered with Monarch Tractors, a US-based Agri-technology company, in March 2021. The partnership will help to improve long-term sustainability and raise awareness among farmers of the importance of zero-emission agriculture.
- John Deere
- CNH Industrial
Other Prominent Vendors
- Mahindra & Mahindra
- CLAAS Group
Key Questions Answered:
1. What is the growth rate of the Australia Tractors Market?
2. How many tractors are sold in Australia each year?
3. What are the expected units to be sold in the Australian tractors market by 2028?
4. Which wheel drive holds the highest market shares in the Australian region?
5. Which companies dominate the Australia tractor market share?
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