Global Walking Tractor Market 2017-2021

Global walking tractor market forecasts

According to the walking tractor market analysis, Technavio’s market research analyst predicts the global walking tractor market to grow steadily at a CAGR of above 8% by 2021. One of the major reason responsible for the growth of this market is the emergence of the walking tractor as a versatile tool. The walking tractor has emerged as one of the versatile garden tools for large plots. It has been noted that most manufacturers built walking tractors with a variety of attachments; thus, making it possible to use it as a gardening tool. These machines have the durability and versatility of a tractor and are highly cost-effective when compared to a traditional garden tractor. The use of the walking tractor for gardening purposes is very popular in North America and Europe. Furthermore, the increasing number of home gardens across the globe will steer the demand for walking tractor market during the forecast period.

The introduction of the electric powered walking tractor is a key trend that will impel growth in the walking tractor market. Manufacturers of walking tractors have designed electrical engine for the tractor, which is driven by alternating current (AC). This is primarily done to improve the working conditions for the walking tractor operators, as the operators had to work under the presence of exhaust engine gases. Such a working environment was severely injurious to the health of the operator in the long term. Also, the effectiveness of electric power tractors in soil preparation than engine driven walking tractors will drive the growth of the two-wheel tractor market in the coming years.

Competitive landscape and key vendors

The global walking tractor market is fragmented in nature and includes well-diversified international and regional vendors. As the international players are increasing their footprint in the market across the globe, the regional vendors are finding it difficult to compete in terms of quality, technology, and pricing. Therefore, to gain a competitive advantage, vendors need to constantly develop new technologies and stay abreast of emerging technologies that have a bearing on their product lines. Moreover, factors such as intense competition, rapid advances in technology, and frequent changes in consumer preferences will pose a threat to two-wheel tractor market growth during the forecast period.

Leading vendors in the market are -

• BCS America
• Deere & Company
• Grillo

Other prominent vendors in the walking tractor market include CLAAS Jinyee Agricultural Machinery (Shandong), Kranti Agro, Mahindra and Mahindra, Kubota Agricultural Machinery, Shandong Changlin Machinery Group, and V.S.T Tillers Tractors.

Segmentation by product and analysis of the walking tractor market

• < 7HP walking tractor
• 7-10HP walking tractor
• >10HP walking tractor

During 2016, the < 7HP walking tractor segment dominated the two-wheel tractor market and accounted for a major part of the overall market share. Cost-effectiveness is the key factor responsible for the dominance of this segment in the walking tractor market. The primary consumers for this segment include small farm holders belonging to the low-income group and have limited financial assistance.

Geographical segmentation and analysis of the walking tractor market

• APAC
• Europe
• North America
• ROW

Based on the walking tractor market overview, our analysts have estimated North America to dominate the walking tractor market during the forecast period. The market's growth in this region can be attributed to the high presence of small family owned farms that are responsible for the large production of food products. Moreover, the rapidly decreasing arable land in North America will augment the growth of the two-wheel tractor market in the region during the next four years.

Key questions answered in the report include

• What will the market size and the growth rate be in 2021?
• What are the key factors driving the global walking tractor market?
• What are the key market trends impacting the growth of the global walking tractor market?
• What are the challenges to market growth?
• Who are the key vendors in the global walking tractor market?
• What are the market opportunities and threats faced by the vendors in the global walking tractor market?
• Trending factors influencing the market shares of the APAC, Europe, North America, and ROW.
• What are the key outcomes of the five forces analysis of the global walking tractor market?

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