The global tractor market is growing steadily
According to information released at EIMA, the international tractor market is experiencing steady growth despite differences in markets and prices across continents. Among them, India and China are among the top-selling countries in the world, while the unit prices of European and American products are higher.
Currently, there are more than 34 million tractors in use in the world, of which 39% are concentrated in Asia, 36% in Europe, 22% in North and South America, Oceania and Africa are relatively few. In recent years, annual tractor sales have been around 2 million units. India and China are emerging markets with annual sales of approximately 620,000 and 500,000 tractors respectively. In other countries and regions, Western Europe has about 160,000 people, the United States has about 100,000 people, Turkey has about 57,000 people, and Russia has about 24,500 people. According to the Food and Agriculture Organization of the United Nations, this figure is expected to increase significantly in the coming years. However, the organizers of the EIMA exhibition believe that sales volume is an important indicator of demand, but does not correspond to real value. In traditional Western markets, tractors usually have a higher technical level, more power and a higher price. For example, the annual turnover of agricultural machinery in Europe is about 26 billion euros, of which tractors cost about 8 billion euros; The US agricultural machinery trade is worth about 21 billion euros, of which tractors are worth about 7 billion euros. The agricultural machinery trade in China is worth about 14 billion euros, of which tractors are worth about 9 billion euros. Organizers of the EIMA exhibition predict that in 2015 China is expected to maintain current sales volumes and maintain its current market position. Due to overbuying of tractors by French, German and British farmers over the past few years, sales in Europe could fall by around 7% next year.
Responsible editor: Jamiyuan
