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Report
United States Agricultural Tractor Machinery Market Report and Forecast 2024-2032
Market Report I 2024-02-14 I 188 Pages I EMR Inc.
United States Agricultural Tractor Machinery Market Report and Forecast 2024-2032
Market Outlook
According to the report by Expert Market Research (EMR), the United States agricultural tractor machinery market reached a value of USD 13.61 billion in 2023. Aided by the technological advancements, an increasing emphasis on farm mechanisation, and the rising need for operational efficiency in farming, the market is projected to further grow at a CAGR of 5.5% between 2024 and 2032 to reach a value of USD 22.16 billion by 2032.
Agricultural tractors, integral to modern farming, serve multiple purposes from ploughing and tilling to planting and harvesting. They are pivotal in enhancing productivity, reducing manual labour, and increasing the economic output of the agricultural sector. The evolving landscape of the United States agricultural sector, characterised by the adoption of precision farming techniques and sustainable farming practices, underscores the growing demand for advanced tractor machinery.
According to the United States agricultural tractor machinery market analysis, the integration of technologies such as GPS and IoT in tractor machinery has revolutionised farming operations, enabling precise field mapping, automated steering, and real-time monitoring of crop health. These innovations not only enhance the efficiency and productivity of farming activities but also contribute to resource conservation and sustainable agricultural practices.
The United States government's support through subsidies and favourable policies aimed at modernising the agricultural infrastructure plays a crucial role in driving the market. Initiatives promoting the adoption of agricultural machinery are instrumental in encouraging farmers to invest in advanced tractors, thereby fuelling United States agricultural tractor machinery market growth.
With the growing population and the subsequent rise in demand for food, there is a pressing need to enhance agricultural productivity. Tractors, equipped with advanced features and capabilities, are vital in meeting these demands efficiently, making them indispensable in modern agriculture.
The push towards sustainable farming and the reduction of carbon footprints opens avenues for the development of electric and hybrid tractors, aligning with environmental conservation goals. Moreover, the growing trend of precision agriculture and the need for customised machinery solutions cater to a wide range of farming operations, presenting further growth prospects for the market.
The United States agricultural tractor machinery market outlook is being influenced by factors such as the type of crops grown, the scale of farming operations, and geographical conditions. The Midwest and Plains states, known for their extensive farming activities, account for a significant share of the market. However, the adoption of advanced tractors is also gaining momentum in the South and West regions, driven by the diversification of agriculture and the introduction of high-value crops.
Market Segmentation
The market can be divided based on engine power, type, drive type, propulsion, and region.
Market Breakup by Engine Power
- Less Than 35 HP
- 36 HP -100 HP
- 101 HP - 200 HP
- 201 HP - 350 HP
- Greater Than 350 HP
Market Breakup by Type
- Orchard Tractors
- Row-Crop Tractors
- Others
Market Breakup by Drive Type
- Two-Wheel Drive
- Four-Wheel Drive
Market Breakup by Propulsion
- Internal Combustion Engine
- Electric and Hybrid
Market Breakup by Region
- New England
- Mideast
- Great Lakes
- Plains
- Southeast
- Southwest
- Rocky Mountain
- Far West
Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the United States agricultural tractor machinery market. Some of the major players explored in the report by Expert Market Research are as follows:
- Deere & Company
- AGCO Corporation
- CNH Industrial NV
- CLAAS KGaA mbH
- Kubota Corporation
- Yanmar Holdings Co., Ltd.
- SDF S.p.A (Deutz-Fahr)
- Mahindra & Mahindra Ltd.
- Ideanomics Inc. (Solectrac, Inc.)
- LS Tractor USA, LLC
- Others
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*We at Expert Market Research always strive to provide you with the latest information. The numbers in the article are only indicative and may be different from the actual report.
1 Preface
2 Report Coverage - Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
7 Opportunities and Challenges in the Market
8 North America Agricultural Tractor Machinery Market Overview
8.1 Key Industry Highlights
8.2 North America Agricultural Tractor Machinery Historical Market (2018-2023)
8.3 North America Agricultural Tractor Machinery Market Forecast (2024-2032)
8.4 North America Agricultural Tractor Machinery Market breakup by Country
8.4.1 United States
8.4.2 Canada
9 United States Agricultural Tractor Machinery Market Overview
9.1 Key Industry Highlights
9.2 United States Agricultural Tractor Machinery Historical Market (2018-2023)
9.3 United States Agricultural Tractor Machinery Market Forecast (2024-2032)
10 United States Agricultural Tractor Machinery Market by Engine Power
10.1 Less Than 35 HP
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 36 HP -100 HP
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 101 HP - 200 HP
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 201 HP - 350 HP
10.4.1 Historical Trend (2018-2023)
10.4.2 Forecast Trend (2024-2032)
10.5 Greater Than 350 HP
10.5.1 Historical Trend (2018-2023)
10.5.2 Forecast Trend (2024-2032)
11 United States Agricultural Tractor Machinery Market by Type
11.1 Orchard Tractors
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Row-Crop Tractors
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 Others
12 United States Agricultural Tractor Machinery Market by Drive Type
12.1 Two-Wheel Drive
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Four-Wheel Drive
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
13 United States Agricultural Tractor Machinery Market by Propulsion
13.1 Internal Combustion Engine
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 Electric and Hybrid
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
14 United States Agricultural Tractor Machinery Market by Region
14.1 New England
14.1.1 Historical Trend (2018-2023)
14.1.2 Forecast Trend (2024-2032)
14.2 Mideast
14.2.1 Historical Trend (2018-2023)
14.2.2 Forecast Trend (2024-2032)
14.3 Great Lakes
14.3.1 Historical Trend (2018-2023)
14.3.2 Forecast Trend (2024-2032)
14.4 Plains
14.4.1 Historical Trend (2018-2023)
14.4.2 Forecast Trend (2024-2032)
14.5 Southeast
14.5.1 Historical Trend (2018-2023)
14.5.2 Forecast Trend (2024-2032)
14.6 Southwest
14.6.1 Historical Trend (2018-2023)
14.6.2 Forecast Trend (2024-2032)
14.7 Rocky Mountain
14.7.1 Historical Trend (2018-2023)
14.7.2 Forecast Trend (2024-2032)
14.8 Far West
14.8.1 Historical Trend (2018-2023)
14.8.2 Forecast Trend (2024-2032)
15 Market Dynamics
15.1 SWOT Analysis
15.1.1 Strengths
15.1.2 Weaknesses
15.1.3 Opportunities
15.1.4 Threats
15.2 Porter's Five Forces Analysis
15.2.1 Supplier's Power
15.2.2 Buyer's Power
15.2.3 Threat of New Entrants
15.2.4 Degree of Rivalry
15.2.5 Threat of Substitutes
15.3 Key Indicators for Demand
15.4 Key Indicators for Price
16 Trade Data Analysis (HS Code-8701)
16.1 Major Importing Countries
16.1.1 By Volume
16.1.2 By Value
16.2 Major Exporting Countries
16.2.1 By Volume
16.2.2 By Value
17 Competitive Landscape
17.1 Market Structure
17.2 Company Profiles
17.2.1 Deere & Company
17.2.1.1 Company Overview
17.2.1.2 Product Portfolio
17.2.1.3 Demographic Reach and Achievements
17.2.1.4 Certifications
17.2.2 AGCO Corporation
17.2.2.1 Company Overview
17.2.2.2 Product Portfolio
17.2.2.3 Demographic Reach and Achievements
17.2.2.4 Certifications
17.2.3 CNH Industrial NV
17.2.3.1 Company Overview
17.2.3.2 Product Portfolio
17.2.3.3 Demographic Reach and Achievements
17.2.3.4 Certifications
17.2.4 CLAAS KGaA mbH
17.2.4.1 Company Overview
17.2.4.2 Product Portfolio
17.2.4.3 Demographic Reach and Achievements
17.2.4.4 Certifications
17.2.5 Kubota Corporation
17.2.5.1 Company Overview
17.2.5.2 Product Portfolio
17.2.5.3 Demographic Reach and Achievements
17.2.5.4 Certifications
17.2.6 Yanmar Holdings Co., Ltd.
17.2.6.1 Company Overview
17.2.6.2 Product Portfolio
17.2.6.3 Demographic Reach and Achievements
17.2.6.4 Certifications
17.2.7 SDF S.p.A (Deutz-Fahr)
17.2.7.1 Company Overview
17.2.7.2 Product Portfolio
17.2.7.3 Demographic Reach and Achievements
17.2.7.4 Certifications
17.2.8 Mahindra & Mahindra Ltd.
17.2.8.1 Company Overview
17.2.8.2 Product Portfolio
17.2.8.3 Demographic Reach and Achievements
17.2.8.4 Certifications
17.2.9 Ideanomics Inc. (Solectrac, Inc.)
17.2.9.1 Company Overview
17.2.9.2 Product Portfolio
17.2.9.3 Demographic Reach and Achievements
17.2.9.4 Certifications
17.2.10 LS Tractor USA, LLC
17.2.10.1 Company Overview
17.2.10.2 Product Portfolio
17.2.10.3 Demographic Reach and Achievements
17.2.10.4 Certifications
17.2.11 Others
18 Key Trends and Developments in the Market
List of Key Figures and Tables
1. North America Agricultural Tractor Machinery Market: Key Industry Highlights, 2018 and 2032
2. United States Agricultural Tractor Machinery Market: Key Industry Highlights, 2018 and 2032
3. United States Agricultural Tractor Machinery Historical Market: Breakup by Engine Power (USD Billion), 2018-2023
4. United States Agricultural Tractor Machinery Market Forecast: Breakup by Engine Power (USD Billion), 2024-2032
5. United States Agricultural Tractor Machinery Historical Market: Breakup by Type (USD Billion), 2018-2023
6. United States Agricultural Tractor Machinery Market Forecast: Breakup by Type (USD Billion), 2024-2032
7. United States Agricultural Tractor Machinery Historical Market: Breakup by Drive Type (USD Billion), 2018-2023
8. United States Agricultural Tractor Machinery Market Forecast: Breakup by Drive Type (USD Billion), 2024-2032
9. United States Agricultural Tractor Machinery Historical Market: Breakup by Propulsion (USD Billion), 2018-2023
10. United States Agricultural Tractor Machinery Market Forecast: Breakup by Propulsion (USD Billion), 2024-2032
11. United States Agricultural Tractor Machinery Historical Market: Breakup by Region (USD Billion), 2018-2023
12. United States Agricultural Tractor Machinery Market Forecast: Breakup by Region (USD Billion), 2024-2032
13. Major Importing Countries by Volume
14. Major Exporting Countries by Volume
15. Major Importing Countries by Value
16. Major Exporting Countries by Value
17. United States Agricultural Tractor Machinery Market Structure
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