Views: 48 Author: Site Editor Publish Time: 2022-12-06 Origin: https://www.researchandmarkets.com/reports/5661146/mexico-tractors-market-industry-analysis-and?utm_source=GNOM&utm_medium=PressRelease&utm_code=5cxkkp&utm_campaign=1786182+-+Mexico+Tractors+Market+Re
The 50-100HP sector had the greatest share in 2021 as a result of farmers' increased purchasing power as a result of improved MSP and crop realization in Mexico.
Mexican Government Support for Agriculture
Tractor sales in the nation are anticipated to rise as automation, government assistance, and exports all increase. The federal government launched agricultural initiatives (formerly known as PROCAMPO, now called PROAGRO) to boost the agricultural sector in 2020, totaling $53.74 million for seeds, fertilizer, equipment, and other agricultural supplies.
To maintain food security and safety, governments must embrace efficient and sustainable farming techniques. Despite having a low degree of agricultural mechanization, the nation is using precision agriculture to boost output. Crops are cultivated using the management idea of precision farming in accordance with the requirements of the soil. The demand for tractors will rise as agricultural mechanization becomes more prevalent in emerging nations.
Low interest rates, low inflation, and a reform program backed by the government to re-establish competition are all predicted to increase economic development by 2023.
The local food and beverage (F&B) industry continues to drive development and exports, helped by record production of a number of vital commodities including wheat, rice, and barley.
Input distribution, grain origination, trade, and animal protein production, including aquaculture, fruit production, and forestry, are just a few of the industries that are expected to expand and see more consolidation.
Market Tendances
The agricultural environment in Mexico is often characterized by mechanized feedlots, automated irrigation systems, and agricultural machinery. Farm machinery use has greatly increased in order to increase productivity and efficiency as the demand for food and related resources from the world's largest economy grows.
Farmers aiming for more sophisticated agricultural tractors are predicted to increase demand for replacement tractors, which will affect the nation's tractor fleet business. Moreover, the nation is experiencing an increase in demand for low-hp tractors (less than 100 hp). Small family farms are becoming more prevalent, which is mostly to blame.
Segments Analysis
Segmentation by Horsepower
Less than 50 HP
50-100 HP
101-150 HP
151-250 HP
Above 250 HP
Segmentation by Drive Type
2-Wheel-Drive
4-Wheel-Drive
The major tractor manufacturers in Mexico include John Deere, AGCO, CNH Industrial, TAFE, and Kubota.
With a combined market share of more than 60%, John Deere and AGCO, the industry leaders in terms of units sold, dominated the tractor market in Mexico.
