Spain Tractor Market Analysis & Forecast Report 2022-2028 Featuring Key Vendors – John Deere, CNH Industrial, AGCO, & Kubota – ResearchAndMarkets.com

DUBLIN–(BUSINESS WIRE)–The “Spain Tractor Market – Industry Analysis & Forecast 2022-2028” report has been added to ResearchAndMarkets.com’s offering.

Spain has over 46.8 million food consumers and is the fourth-largest food market in Western Europe. It has more than 50% of its area under agricultural land, covering more than 2 million hectares despite its high population density.

The country witnessed a massive increase in farm mechanization, both in terms of agricultural and industrial productivity, driven by a technological revival in the last decade. The Spain tractor market plays a key role in farming as it eases the work and increases productivity.

Globally, the demand for organic products is rising because of the associated health benefits such as fewer or no chemicals and fertilizers, non-GMO yield, and ethical farming. Spain is the leader in organic farming in the EU.

In Spain, a significant ecosystem centered on agricultural innovation is being created. Many solutions are being developed to support a highly effective and sustainable agri-food system, from multinational corporations to start-ups and SMEs.

KEY HIGHLIGHTS

The Spain tractor market grew by 9.3% in 2021 from 2020. The increase in crop production and machinery sales was due to a favorable climate and government support to farmers through incentives in 2021.

In 2020, Spain imported USD 1.5 billion worth of tractors, of which 22.0% was from Germany, 20.9% from France, and 13.8% from the Netherlands.

More than 2.3 million hectares of Spain are used for agriculture. Spain’s Agricultural sector generated USD 54.65 billion in revenue, accounting for 12% of the total income of the European Union.

Spain’s government plans to double the quantity and revenues from agricultural products exported by 2025, with the share of farming exports growing relatively slowly. The government identifies regions according to their current production of export foods and their potential to increase production with the help of new institutional reforms.

In 2020, Spain exported USD 1.4 billion worth of tractors. Around 34.4% were exported to Italy, 15.1% to Germany, and 10.5% to France.

MARKET TRENDS & OPPORTUNITIES

Use of Energy-efficient Machinery

The Positive Agriculture project aims to improve the living conditions of those who are a part of the agricultural supply chain and to provide essential equipment sustainably.

This aim joins an already announced objective to reduce total greenhouse gas (GHC) emissions by 40% by 2030 and zero emissions by 2040. The adoption of energy-efficient machinery in the Spain tractor market will enable the fulfillment of these objectives.

Assistance to Farmers through Loans & Subsidies

Agriculture is a significant source of income for Spain’s economy. Therefore, the government sustains and empowers Spain farmers. The government launched several policies and missions to help farmers by providing them with financial assistance, better infrastructure, competitive crop prices, loan waivers, and subsidies.

Such factors also favor the growth of the Spain tractor market. The Rural Development Program of Spain Productivity Scheme provides funding for projects in the country that improve productivity in the farming and forestry sectors and helps create jobs and growth in the rural areas.

Use of Non-conventional Fuels in Tractors

Conventionally, farmers used diesel engine tractors known for their high power in the Spain tractor market. Due to machine technologies and engine advances, machines are now more efficient and can complete tasks with less power. The volatility in diesel prices hampers the budget management of farmers.

Manufacturers in Spain are now focusing on the development of alternate fuel-based tractors. Tractors that run on liquefied natural gas (LNG), compressed natural gas (CNG), propane, diesel, and kerosene are available these days. New Holland’s methane-powered concept tractor has the performance and durability of its diesel equivalent with up to 30% running cost savings.

REGIONAL ANALYSIS

The Spain tractor market is currently in the growth stage, and manufacturers seek capacity augmentation in the country. Northern Spain still has little farm mechanization, and vendors can explore the province with a portfolio of medium-sized machinery suitable for hilly terrains. The demand for agriculture tractors in Central and Southern provinces was high in 2021. Strong demand for agriculture machinery is expected to come from the Eastern province, with a CAGR of 4.84% during the forecast period.

In the Eastern province, dry farming land is used to grow crops like wheat, barley, olives, and grapes. However, the irrigated land is much more productive and produces most of the Eastern province’s agricultural output. The main crops grown in the irrigated zones are fruit, fodder, and corn (maize).

The combined penetration of mechanized implements and tractors in the Eastern zone is close to 32%, with manual and animal-driven tools comprising 38% and 30%, respectively. Wheat and barley are significant crops, constituting 28% and 16% of the total crop production in Eastern Spain.

VENDOR LANDSCAPE

• In terms of units sold, John Deere and New Holland were the two largest manufacturers in the Spain tractor market. In 2021, John Deere was the highest-selling brand in the country, with more than 20% of the overall tractors sold.
• In March 2022, John Deere launched the new electric variable transmission (EVT) for select 8 Series Tractors and a new JD14X engine for 9 Series.
• AGCO and AgRevolution showcased new solutions from Fendt, Massey Ferguson, and Hesston by Massey Ferguson at the National Farm Machinery in Louisville, Kentucky, in February 2022.
• In March 2021, CNH Industrial partnered with Monarch Tractors, an Agri-technology company, to improve long-term sustainability and raise awareness among farmers of the importance of zero-emission agriculture.
• Massey Ferguson launched the MF 8S series tractors. This series of tractors is distinguished by a guard-u install engine and a neo-retro design. These machines are designed to advance smart farming technologies.

Key Vendors

• John Deere
• CNH Industrial
• AGCO
• Kubota

Other Prominent Vendors

• SDF
• JCB
• Iseki Farm Implement Trading Co.
• Arbos Group

Key Topics Covered:

1 Research Methodology

2 Research Objectives

3 Research Process

4 Scope & Coverage

4.1 Market Definition

4.2 Base Year

4.3 Scope of the Study

5 Report Assumptions & Caveats

5.1 Key Caveats

5.2 Currency Conversion

5.3 Market Derivation

6 Market at a Glance

7 Premium Insights

8 Introduction

8.1 Overview

8.2 Value Chain Analysis

8.2.1 Overview

8.2.2 Raw Material & Component Suppliers

8.2.3 Manufacturers

8.2.4 Dealers/Distributors

8.2.5 Retailers

8.2.6 End-Users

8.3 Agricultural Land Holding Structures

8.4 Common Agricultural Policy & the European Union Agricultural Expenditure

8.5 Import & Export Analysis

8.6 Technological Advances

9 Market Landscape

9.1 Market Overview

9.2 Market Size & Forecast

10 Horsepower

10.1 Market Snapshot & Growth Engine

10.2 Market Overview

10.4 50-100 Hp

10.5 101-150 Hp

10.6 151-200 Hp

10.7 201-300 Hp

10.8 Above 300 Hp

11 Drive Type

11.1 Market Snapshot & Growth Engine

11.2 Market Overview

11.3 2-Wheel-Drive

11.4 4-Wheel-Drive

12 Province

12.1 Market Snapshot & Growth Engine

12.2 Market Overview

12.3 Northern

12.3.1 Market Overview

12.3.2 Market Size & Forecast

12.3.3 Northern Spain Agricultural Tractor Market by Horsepower

12.3.4 Northern Spain Agricultural Tractor Market by Drive Type

12.4 Eastern

12.5 Central

12.6 Southern

13 Market Opportunities & Trends

13.1 Technological Advances in Tractor Technology

13.1.1 Gps Technology

13.1.2 Autonomous or Self-Driving Tractors

13.2 Shortage of Agricultural Labor

13.3 Use of Energy-Efficient Tractors

13.4 Use of Non-Conventional Fuels in Tractors

14 Market Growth Enablers

14.1 Assistance to Farmers Through Loans & Subsidies

14.2 Increased Agricultural Productivity & Exports

14.3 Increased Farm Mechanization

15 Market Restraints

15.1 Lack of Awareness of the Latest Innovations in Agricultural Equipment

15.2 High Demand for Used & Rental Tractors

16 Five Forces Analysis

17 Competitive Landscape

17.1 Competition Overview

17.1.1 Recent Developments by Top Players

17.1.2 Brand Loyalty

17.1.3 Recent Developments by Top Brands

17.1.4 Sales & Exports

For more information about this report visit https://www.researchandmarkets.com/r/ewrrq6

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