The 2-Wheel-Drive segment accounted for 89% of the overall tractor market. 141-200 HP segment accounted for the largest market share and is likely to grow at a CAGR of 4.50% during the forecast period.
Chicago, Sept. 08, 2022 (GLOBE NEWSWIRE) -- According to Arizton’s latest research report, UK Tractors market is expected to grow at a CAGR of 3.7% during 2022-2027. The less than 50 HP segment of the UK agriculture tractor market witnessed registration of 1,812 units in 2021 and is expected to reach 2,416 units in 2028, growing at a CAGR of 4.2% during the forecast period.
The penetration and adoption of farm mechanization practices across the UK drive the sale of new tractors. Tractors and agricultural implements are the major product categories of the organized agriculture market in the UK.
UK Tractors Market Report Scope
MARKET SIZE (2027)
Over 17k Units
MARKET SIZE (2021)
Horsepower, Drive Type, and Regions
LARGEST SEGMENT BY HORSEPOWER
LARGEST SEGMENT BY REGION
John Deere, AGCO, CNH Industrial, and Kubota
The introduction of autonomous tractors is a major threat to farmers. Autonomous tractors will not replace human farmers but will assist them in farming and increase productivity and operating efficiency, according to CNH officials. Furthermore, most of the tasks that farmers and farm laborers currently perform are not linked to tasks that autonomous tractors are developed to perform.
The price of an autonomous tractor is estimated to be 40%−50% higher than the price of a conventional tractor. Thus, affordability will be a major challenge for farmers. However, autonomous tractors will provide better returns to UK farmers in the future.
A shortage of laborers is witnessed in the UK’s agricultural sector due to several reasons. Lack of incentives, migration to other countries for employment, and extreme working conditions are the main reasons. UK’s rural youth is no longer interested in agriculture and migrates to cities to explore new opportunities. The aging workforce also contributes significantly to the shortage of laborers.
Income and growth opportunities in the non-agricultural sector, low wages in the agricultural sector, and extreme work conditions reduce the percentage of the total workforce engaged in agriculture. The drastic shortage of farm laborers will increase the demand for farm machinery, such as tractors.
In 2021, the UK 141-200 HP segment recorded high growth. The primary factor for the steady growth of the medium-power range of tractors is the increased business turnover among farmers. The sales of Above 240 HP tractors in the country are forecasted to remain steady during the forecast period as farm sales will likely stay the same in the coming years.
The UK government is increasingly focusing on sustainability. In November 2020, the government offered a detailed plan to focus on clean energy, minimizing emissions, and environmental protection. Hence, this is likely to provide growth opportunities for tractors that reduce the environmental impact, such as electric or battery-operated tractors.
Government strategies to enhance the welfare of farmers by converting agriculture into a viable activity are paving the way for new tractor purchases. The awareness of advanced agriculture equipment to improve per hectare yield, reduce the overall cost of crop production, and increase farmers' incomes is boosting the sales of new tractors in the UK.
As agriculture and digital technology converge in the UK, new avenues to an intelligent agricultural future are becoming available. Several technologies, including GPS technology and self-driving or autonomous tractors, will enable smart agriculture. Farmers can work fewer hours owing to autonomous or self-driving tractors. However, the potential for data monitoring is enormous.
Other Prominent Vendors
Less than 50 HP
Above 240 HP
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