DUBLIN–(BUSINESS WIRE)–The “France Tractor Market – Industry Analysis & Forecast 2023-2028” report has been added to ResearchAndMarkets.com’s offering.
The French tractor market is forecast to reach 44,387 units by 2028.
The north zone leads the French tractor industry in adopting and penetrating farm mechanization practices. The agriculture and food industry in the north zone is strong and well-established. The Hauts-de-France region is known for its agriculture, which is highly developed, productive, and diverse. Further, in terms of region, the northern and eastern states have reportedly shown a higher demand for agriculture tractors than the western and southern parts of the country.
KEY HIGHLIGHTS
MARKET TRENDS & OPPORTUNITIES
Increasing Use of Bioenergy in Agricultural Tractors
Conventionally, farmers used diesel engine tractors known for their high power. Tractors are now more efficient and can complete tasks with fewer power requirements due to advances in machine technologies and engines. The volatility in diesel prices hampers the budget management of farmers. Thus, the agricultural tractor industry witnesses a considerable demand for tractors that run on different fuels, such as plant-oil and biogas-powered tractors.
The Technological Advances in Tractor Technology
A new frontier of innovation emerged as agriculture met digital technology, opening various paths to a smart agricultural future. Tractor manufacturers are competitive, and companies constantly strive to innovate and ensure product differentiation at affordable prices. State-of-the-art technology-based tractors are currently available in the industry. GPS and remote sensing make farming more accurate and productive.
SEGMENTATION INSIGHTS
INSIGHTS BY HORSEPOWER: The 50-100 HP segment recorded a high France tractor market share in 2022. Medium-scale farmers in the region mostly rely on 50-100 HP tractors. These farmers generally own 10 to 20 acres of land. The increased use of 50-100 HP tractors is due to their ability to effectively carry out all tasks in the field, including soil preparation, irrigation, weeding, harvesting, and haulage. Farmers use these tractors to carry equipment and crops from fields to the marketplace. The major factor for the steady growth of the medium-power range of tractors is the increased business turnover among hobby and livestock farmers.
INSIGHTS BY DRIVE TYPE: The France tractor market is dominated by low-range HP 2WD tractors. 2WD tractors are the most favored by farmers. The low relative cost of ownership, the sufficiency of features and haulage power, and convention make 2WD tractors more popular among farmers. Ease of driving and flexibility with light loads and in plain fields are major factors that boost the demand for two-wheel-drive tractors. John Deere, New Holland, and Fendt hold most of the 2-wheel drive tractors segment shares.
COMPETITIVE LANDSCAPE
John Deere, New Holland, and Fendt dominated France tractor market with a collective market share of over 40% in 2022. These brands have adopted several strategies to gain traction in the industry. They invest in developing advanced agriculture tractor technology for precision farming and machine automation. Further, vendors must incorporate the machinery that can assist and help in farming. This provides customers a one-stop-shop solution for their needs and builds brand recognition among potential buyers.
This report is among the few in the market that offer outlook and opportunity analyses forecast in terms of:
Key Topics Covered:
Market Opportunities & Trends
Market Growth Enablers
Market Restraints
Company Profiles
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ResearchAndMarkets.com
Laura Wood, Senior Press Manager
press@researchandmarkets.com
For E.S.T Office Hours Call 1-917-300-0470
For U.S./ CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900