Unit shipment monitoring and average selling price (ASP) analysis across horsepower categories were used to determine the global market valuation. The following were part of the methodology:
Finding more than 40 important manufacturers in the Middle East and Africa, Asia-Pacific, Latin America, Europe, and North America
Product mapping by engine type (internal combustion, electric, hybrid) and horsepower segments (less than 40 HP, 40-100 HP, and more than 100 HP) for two-wheel drive, four-wheel drive, compact, and specialty tractor categories
Analysis of annual sales for agricultural tractor divisions, including accessory and precision farming technology bundles, as reported and projected
coverage of producers who will account for 75–80% of the world market in 2024
Extrapolation using bottom-up (unit shipments × ASP by country/region adjusted for import duties and localization costs) and top-down (manufacturer revenue validation against dealer/distributor network data) approaches to derive segment-specific valuations for plowing, tilling, harvesting, hauling, and row crop applications