Mahindra & Mahindra announced that its tractor sales for December 2011 stood at 15,315, slightly above the number it sold in December 2010. The company is forecasting only some 10% growth for 2012.

Mahindra now claims to be the world's largest tractor manufacturer by volume, overtaking John Deere. John Deere, however, disputes this claim, as Mahindra sells basic, low cost tractors whereas John Deere sells larger, higher margin tractors mainly to the US market. John Deere claims to be the largest global manufacturer of agricultural equipment, with revenues of $29.5 billion.

Mahindra has enjoyed growth in the tractor market due to strong demand from rural India, as well as through joint venture operations in China. The global market for agricultural implements and machinery, including tractors, is expected to be valued at nearly $125 billion in 2017, driven by growth in emerging economies such as India and China.

Whilst the US and Canada lead the global market for high horsepower tractors,  Europe mainly manufactures tractors in the medium range (40hp-100hp). Japan is a large supplier of tractors below this range. Asia is expected to be the fastest growing market, with a compound annual growth rate of 7.9% over the period to 2017. Leading companies include Agco, John Deere, Mahindra, Kubota and Kuhn Group.

For more details about the global tractor market, see Agricultural Implements and Machinery: A Global Strategic Business Report:
http://www.companiesandmarkets.com/Market-Report/agricultural-implements-and-machinery-a-global-strategic-business-report-441890.asp