LONDON--(BUSINESS WIRE)--Technavio has announced the top six leading vendors in their recent agriculture tractors market in Europe report. This market research report also lists eight other prominent vendors that are expected to impact the market during the forecast period.
Competitive vendor landscape
According to the research analysis, the agriculture tractors market in Europe is highly concentrated. Vendors benefit from favorable interest rates set by their respective governments to stimulate investments. This has helped provide better finances to farmers to invest in agricultural equipment.
Vendors compete in terms of cost, brand appeal, horsepower, utility, and economic efficiency. The extent and reliability of their service networks also play an important role in their popularity among end-users. The popularity of brands varies from one region to another. Vendors need to adapt their strategies and technologies to adapt to the needs, challenges, and opportunities in various regions to gain a competitive edge.
“In mature markets, farm sizes are usually large, mechanization is high, and customer loyalty is more. In emerging countries, farm sizes are usually smaller, mechanization is lower, and customer loyalty is lesser. Customers in these economies attach a lot of importance to price and availability. Therefore, vendors should tailor their market strategies to suit the needs of customers and focus on the implementation of new technologies that provide cost-efficiency and quality,” says Amber Chourasia, a lead analyst at Technavio for agricultural equipment research.
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Technavio market research analysts identify the following key vendors:
AGCO designs, manufactures, and markets agricultural solutions. Its product portfolio includes farm tractors, hay tools, combines, sprayers, grain storage and forage equipment, protein production systems, and replacement parts. The company engages in R&D activities and uses leading edge technologies to maximize productivity and profitability. Different tractor brands offered by the company are Challenger, Fendt, Massey Ferguson, and Valtra.
ARGO TRACTORS designs, produces, and markets agricultural machines and tractors. The company offers tractors for use in orchards and vineyards; crawler tractors and models for open field work; and machinery spare parts, which includes transmissions, power lifts, axles, and cabs. The company produces 24,000 tractors that are marketed under the McCormick, Landin, and Valpadana brands.
CLAAS is a leader in providing machinery to the agriculture manufacturing industry. It is mainly involved in manufacturing and selling agricultural engineering equipment. The company sells its products in France, Germany, Central and Eastern Europe, and other countries. The company offers forage harvesting machinery and agricultural systems. It also provides services and parts, including lubricants, batteries, camera systems, measuring instruments.
CNH Industrial is involved in the manufacture of agriculture and construction equipment, commercial vehicles, trucks, buses, specialty vehicles for defense, firefighting, and other vehicles. Some of the well-known brands of the company are Case IH, Steyr, New Holland Agriculture, New Holland Construction, IVECO Astra, IVECO Bus, IVECO, Heuliez Bus, Magirus, and FPT.
Deere & Company
Deere & Company manufactures and distributes agriculture and turf, construction, and forestry equipment worldwide. It has a significant presence in the agriculture market in Europe. The agriculture and turf segment manufactures and distributes equipment such as large, medium, and utility tractors; tillage, hay, and forage equipment; and front-end equipment and sugarcane loaders. Its products also include integrated agricultural management systems and precision agricultural irrigation equipment and supplies.
SDF is the manufacturer of tractors, engines, harvesting machines, and agricultural machines. It distributes its products through the DEUTZ-FAHR, Lamborghini Trattori, SAME, Hurlimann, Gregoire, and Lamborghini Green Pro brands. The company offers a wide variety of agricultural equipment to facilitate farmers and maximize their productivity through technological excellence.
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Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.
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