At 5.1% CAGR, the Middle East & Africa Compact Tractors Market is projected to be worth US$ 829.58 million by 2030, says Business Market Insights
According to Business Market Insights research, the Middle East & Africa compact tractors market was valued at US$ 557.28 million in 2022 and is expected to reach US$ 829.58 million by 2030, registering a CAGR of 5.1% from 2022 to 2030. Increase in technological advancements in the agricultural sector and use of compact tractors in animal management, driveway maintenance, and lawn care are among the critical factors attributed to the Middle East & Africa compact tractors market expansion.
Tractors are used in the agricultural sector for various tasks, including plowing, mowing, landscaping, planting, tilling, and hauling. Tractors are available in various sizes, including mini and medium and large tractors. Compact tractors are smaller and more beneficial for small-scale farming, fruit and nut yards, vineyards, gardens, and lawns. Compact tractors consume less fuel and can be adjusted in smaller spaces. The increasing technological advancement in the agricultural sector is a major driving factor due to compact tractors' operational efficiency in smaller farms and cost efficiency in overall productivity. Nowadays, agricultural operations are executed differently from earlier. The involvement of advanced technological devices such as farming machinery and moisture or temperature sensors makes farming convenient, less time-consuming, and cost-effective. Compact tractors demonstrate higher efficiency and low prices for small-scale farming. In addition, small and marginal farmers are showing interest in compact tractors for meeting the operational requirements but in a cost-efficient way. The increasing advancement in the agricultural sector is boosting the market growth for compact tractors globally.
On the contrary, operational limitations of compact tractors hamper the Middle East & Africa compact tractors market.
Based on capacity, the Middle East & Africa compact tractors market is segmented into below 30 HP, 30 HP - 40 HP, and 40 HP - 60 HP. The 40 HP - 60 HP segment held 44.4% share of Middle East & Africa compact tractors market in 2022, amassing US$ 247.37 million. It is projected to garner US$ 357.43 million by 2030 to expand at 4.7% CAGR during 2022-2030.
Based on drive type, the Middle East & Africa compact tractors market is bifurcated into two-wheel drive and four-wheel drive. The two-wheel drive segment held 91.5% share of Middle East & Africa compact tractors market in 2022, amassing US$ 509.74 million. It is projected to garner US$ 746.05 million by 2030 to expand at 4.9% CAGR during 2022-2030.
Based on end use, the Middle East & Africa compact tractors market is bifurcated into agriculture and utility. The agriculture segment held 77.4% share of Middle East & Africa compact tractors market in 2022, amassing US$ 431.44 million. It is projected to garner US$ 628.10 million by 2030 to expand at 4.8% CAGR during 2022-2030.
Based on country, the Middle East & Africa compact tractors market has been categorized into South Africa, Saudi Arabia, the UAE, and the Rest of Middle East & Africa. Our regional analysis states that the Rest of Middle East & Africa captured 43.1% share of Middle East & Africa compact tractors market in 2022. It was assessed at US$ 240.39 million in 2022 and is likely to hit US$ 325.86 million by 2030, exhibiting a CAGR of 3.9% during 2022-2030.
Key players operating in the Middle East & Africa compact tractors market are AGCO Corp, Argo Tractors SpA, CNH Industrial NV, Deere & Co, Kubota Corp, Mahindra & Mahindra Ltd, Same Deutz-Fahr Italia SpA, and Yanmar Holdings Co Ltd, among others.
In 2023, John Deere introduced 4075R Compact Utility Tractor for MY24. It has been enhanced by heavy-duty front axles and technology-ready capabilities, LED light packages to the 3R, and heavy-duty 4M and 4R models.
In 2022, Argo Tractors had signed a partnership with xFarm Technologies, a technology firm committed to the digitalization of the agri-food sector, to address the difficulties of environmental and economic sustainability, as well as greater productivity, in present and future agriculture. The two firms had collaborated on a new digitization initiative, which was boosted by their expertise in cutting-edge agricultural mechanisation as well as data analysis, processing, and application.
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