South Korea Agricultural Tractor Market Size & Outlook
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South Korea agricultural tractor market highlights
- The South Korea agricultural tractor market generated a revenue of USD 1.3 million in 2025 and is expected to reach USD 2.0 million by 2033.
- The South Korea market is expected to grow at a CAGR of 6.31% from 2026 to 2033.
- In terms of segment, less than 40 hp was the largest revenue generating engine power in 2025.
- More than 100 Hp is the most lucrative engine power segment registering the fastest growth during the forecast period.
Agricultural tractor market data book summary
| Market revenue in 2025 | USD 1.3 million |
| Market revenue in 2033 | USD 2.0 million |
| Growth rate | 6.31% (CAGR from 2026 to 2033) |
| Largest segment | Less than 40 hp |
| Fastest growing segment | More than 100 Hp |
| Historical data | 2021 - 2024 |
| Base year | 2025 |
| Forecast period | 2026 - 2033 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Less than 40 Hp, More than 100 Hp, 41 to 100 Hp |
| Key market players worldwide | AGCO Corp, CNH Industrial NV, Deere & Co, CLAAS, Kubota Corp, Mahindra & Mahindra Ltd DR, International Tractors Ltd, Yanmar, Escorts, Tractors and Farm Equipment |
Other key industry trends
- In terms of revenue, South Korea accounted for 1.9% of the global agricultural tractor market in 2025.
- Country-wise, India is expected to lead the global market in terms of revenue in 2033.
- In Asia Pacific, India agricultural tractor market is projected to lead the regional market in terms of revenue in 2033.
- India is the fastest growing regional market in Asia Pacific and is projected to reach USD 18.6 million by 2033.
South Korea faces a farm labor shortage due to rapid industrialization, drawing workers from rural areas to urban centers. To counter this, the South Korean government is actively promoting an agriculture mechanization program by offering incentives and low-interest agricultural loans, particularly for rice farming, to alleviate financial burdens on farmers and encourage automation.
Additional financial support from the local government aids the renting and leasing of agricultural equipment. The government introduced the used machinery exchange program in 2003, coupled with low-interest loans, to facilitate equipment transactions and support the growth of the agricultural sector.
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Publish Date: Aug 06, 2026
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Agricultural Tractor Market Scope
Agricultural Tractor Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|---|---|---|---|
| Deere & Co | View profile | 83,000 | One John Deere Place, Moline, IL, United States, 61265 | www.deere.com |
| CNH Industrial NV | View profile | 40,496 | Cranes Farm Road, Basildon, Essex, London, United Kingdom, SS14 3AD | www.cnhindustrial.com |
| AGCO Corp | View profile | 27,900 | 4205 River Green Parkway, Duluth, GA, United States, 30096 | www.agcocorp.com |
| Mahindra & Mahindra Ltd DR | View profile | 61,874 | Dr. G. M. Bhosale Marg, Mahindra Towers, 5th Floor, Worli, Mumbai, MH, India, 400 018 | www.mahindra.com |
| Kubota Corp | View profile | 65,532 | 2-47, Shikitsuhigashi 1-Chome, Naniwa-ku, Osaka, Japan, 556-8601 | www.kubota.co.jp |
| CLAAS | View profile | 10001+ | Harsewinkel, Nordrhein-Westfalen, Germany, Europe | claas-gruppe.com |
| International Tractors Ltd | View profile | 501-1000 | Hoshiarpur, Punjab, India, Asia | www.international.sonalika.com/ |
| Yanmar | View profile | 1001-5000 | Adairsville, Georgia, United States, North America | yanmar.com |
| Escorts | View profile | 5001-10000 | Faridabad, Haryana, India, Asia | www.escortsgroup.com/ |
| Tractors and Farm Equipment | View profile | 501-1000 | Chennai, Tamil Nadu, India, Asia | www.tafe.com |
South Korea Agricultural Tractor Market Outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to Agricultural Tractor Market Outlook will help companies and investors design strategic landscapes.
Less Than 40 Hp was the largest segment with a revenue share of 38.46% in 2025.
Horizon Databook has segmented the South Korea agricultural tractor market based on less than 40 hp, more than 100 hp, 41 to 100 hp covering the revenue growth of each sub-segment from 2021 to 2033.
South Korea faces a farm labor shortage due to rapid industrialization, drawing workers from rural areas to urban centers. To counter this, the South Korean government is actively promoting an agriculture mechanization program by offering incentives and low-interest agricultural loans, particularly for rice farming, to alleviate financial burdens on farmers and encourage automation.
Additional financial support from the local government aids the renting and leasing of agricultural equipment. The government introduced the used machinery exchange program in 2003, coupled with low-interest loans, to facilitate equipment transactions and support the growth of the agricultural sector.
- South Korea Agricultural Tractor Market Engine Power Outlook (Revenue, USD Million , 2021-2033)
- Less than 40 Hp
- More than 100 Hp
- 41 to 100 Hp
- South Korea Agricultural Tractor Market Application Outlook (Revenue, USD Million , 2021-2033)
- 2WD
- 4WD
- South Korea Agricultural Tractor Market End Use Outlook (Revenue, USD Million , 2021-2033)
- Electric
- ICE
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Horizon Databook provides a detailed overview of country-level data and insights on the South Korea Agricultural Tractor Market Outlook, including forecasts for subscribers. This country databook contains high-level insights into South Korea Agricultural Tractor Market Outlook from 2021 to 2033, including revenue numbers, major trends, and company profiles.
South Korea Agricultural Tractor Market, 2021-2033 (US$M)
South Korea Engine Power - Agricultural Tractor Market Statistics, 2025 - 2033 (US$M)
