North America Agricultural Machinery Market

North America Agricultural Machinery Market by Types (Tractors [Less than 40 HP, 40 to 100 HP, Above 100 HP, and 4 WD Farm Tractors], Equipments [Harrow, Plow, Cultivators & Tillers, and Others], Irrigation Machinery [Drip Irrigation, Sprinkler Irrigation, and Others], Harvesting Machinery [Forage Harvester, Combine Harvester, and Others], Haying and Forage Machinery [Mowers, Balers, and Others], and Others), Geographies (United States, Mexico, Canada, and Rest of North America) - Industry Analysis, Growth, Share, Size, Trends, and Forecast 2021 – 2028

  • Report ID: CM-3769
  • Author: Growth Market Reports
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  • No. Of Pages: 167
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The North America agricultural machinery market size is estimated to expand at a significant CAGR during the forecast period, 2021-2028. The growth of market is attributed to increasing farm consolidation, favorable government support & policies, large production infrastructure, and positive economic outlook.


North America Agricultural Machinery Market Key Takeaways

Agricultural machinery manufacturers are considered as the beacon and a face of change for the evolution of agricultural industry giving rise to the modern day integrated farm management approach. Majority of farmers in North America are rapidly adopting the advanced technology of farming such as precision farming system and GPS-controlled agricultural machinery which in the near future will be considered as the backbone of the industry.

Increased adoption of precision farming is one of the major factors compelling the growth of the market during the projected period.

North America is facing revolution in the farming sector as it undergoes massive advance technological advancement in tractors segments, with the increasing demand for the food items the cost incurred in the farming are inevitable, thus making the tractors an essential part of efficient farming.

Evolution of several mechanized farming techniques such as plowing, harvesting, tilling, and planting is estimated to drive the agricultural equipment market. Some of the benefits associated with the adoption of advanced mechanical equipments such as increased efficiency, less time consumption, and reduced human made errors are some of the factors boosting the market progress in the coming years.

United States faced few challenge due to the sudden impact of COVID-19, primarily in the tractor segment especially in power tillers and farm machinery sector, migration of labors, shortage of raw materials, and disruption of supply chain due to restricted movement and lockdown worldwide, causing consignments on halt creating business losses for the distributors and the manufacturers.

Market Trends, Drivers, Restraints, and Opportunities

  • Increased farm consolidation, positive economic outlook and developed infrastructure are estimated to boost the market in the coming years.
  • Increased government support and favorable policies is expected to drive the market during the forecast period.
  • Rapid adoption of advanced technologies such as precision farming within the region is anticipated to impel the market during the projected period.
  • R&D and technological advancement in farming industry with the integration of artificial intelligence in farming equipments/machineries creates lucrative opportunities for the key players of the market.
  • Lack of awareness related to the usage of agricultural machinery by the small-scale farmers act as one of the factor that can hamper the growth of the market in the coming years.
  • High cost of agricultural equipments in some of the developing economies possesses a challenge that can impede the market expansion during the projected period.

Scope of the market

The report on the North America agricultural machinery market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Attributes

Details

Report Title

Agricultural Machinery Market – North America Industry Analysis, Growth, Share, Size, Trends, and Forecast

Base Year

2020

Historic Data

2018–2019

Forecast Period

2021–2028

Segmentation

Types (Tractors [Less than 40 HP, 40 to 100 HP, Above 100 HP, and 4 WD Farm Tractors], Equipments [Harrow, Plow, Cultivators & Tillers, and Others], Irrigation Machinery [Drip Irrigation, Sprinkler Irrigation, and Others], Harvesting Machinery [Forage Harvester, Combine Harvester, and Others], Haying and Forage Machinery [Mowers, Balers, and Others], and Others)

Geographical Scope

United States, Mexico, Canada, Rest of North America

Report Coverage

Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast

Key Players Covered in the Report

AGCO Corporation; CLAAS Group; Kverneland Group; Same Deutz-Fahr Deutschland GmbH; Deere & Company.

Market segment insights

The tractors segment is expected to exhibit high CAGR

Based on types, the market is segregated into, tractors, equipment, irrigation machinery, harvesting machinery, haying and forage machinery, and others. The tractors segment is further segregated into less than 40 hp, 40 to 100 hp, above 100 hp, and 4 WD farm tractors. The equipment segment is sub-segregated into harrow, plow, cultivators and tillers, and others. The irrigation machinery segment is further fragmented into drip irrigation, sprinkler irrigation, and others. The harvesting machinery segment is sub-categorized into forage harvester, combine harvester, and others. The haying & forage machinery segment is further divided into mowers, balers, and others . The tractors segment is expected to exhibit high CAGR in the coming years due to increasing demand for the food crop, thus making the tractors an inevitable part of efficient farming, also the wave of modern technology integrated with AI based tools for data transmission which can be incorporated with tractors for precise process of cultivation is expected to induce the demand for the technologically developed tractors in the near future.

The United States is expected to dominate the market

In the term of geographies, the market is fragmented into the United States, Mexico, Canada, and Rest of North America. The United States is expected to dominate the market during the projected period owing to augmented demand for the low-engine power tractors of less than 40 HP as agriculture in considered as a major occupation for the population of the United States, whereas the mechanization of farming is estimated as one of the essential factors that increased productivity, export, and sales, thus escalating the market.

Segments

Segments Covered in the Report
North America agricultural machinery market has been bifurcated on the basis of

Types
  • Tractors
    • Less than 40 HP
    • 40 to 100 HP
    • Above 100 HP
    • 4 WD Farm Tractors
  • Equipments
    • Harrow
    • Plow
    • Cultivators and Tillers
    • Other
  • Irrigation Machinery
    • Drip Irrigation
    • Sprinkler Irrigation
    • Others
  • Harvesting Machinery
    • Forage Harvester
    • Combine Harvester
    • Other
  • Haying and Forage Machinery
    • Mowers
    • Balers
    • Others
  • Other Types
Geographies
  • United States
  • Mexico
  • Canada
  • Rest of North America
Key players
  • AGCO Corporation
  • CLAAS Group
  • Kverneland Group
  • Same Deutz-Fahr Deutschland GmbH
  • Deere & Company.

Competitive Landscape

Key players competing in the North America agricultural machinery market include AGCO Corporation; CLAAS Group; Kverneland Group; Same Deutz-Fahr Deutschland GmbH; Deere & Company.

Some of these players are targeting on business strategies such as mergers, acquisitions, partnerships, collaborations, capacity expansion, and product launches to increase their market shares. For instance

North America Agricultural Machinery Market By Key Players

1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Agricultural Machinery Market Overview
  4.1. Introduction
     4.1.1. Market Taxonomy
     4.1.2. Market Definition
  4.2. Macro-Economic Factors
     4.2.1. Industry Outlook
  4.3. Agricultural Machinery Market Dynamics
     4.3.1. Market Drivers
     4.3.2. Market Restraints
     4.3.3. Opportunity
     4.3.4. Market Trends
  4.4. Agricultural Machinery Market - Supply Chain
  4.5. Global Agricultural Machinery Market Forecast
     4.5.1. Agricultural Machinery Market Size (US$ Mn) and Y-o-Y Growth
     4.5.2. Agricultural Machinery Market Size (000’ Units) and Y-o-Y Growth
     4.5.3. Agricultural Machinery Market Absolute $ Opportunity
5. Global Agricultural Machinery Market Analysis and Forecast by Region
  5.1. Market Trends
  5.2. Introduction
     5.2.1. Basis Point Share (BPS) Analysis by Region
     5.2.2. Y-o-Y Growth Projections by Region
  5.3. Agricultural Machinery Market Size and Volume Forecast by Region
     5.3.1. North America
     5.3.2. Latin America
     5.3.3. Europe
     5.3.4. Asia Pacific
     5.3.5. Middle East and Africa (MEA)
  5.4. Absolute $ Opportunity Assessment by Region
  5.5. Market Attractiveness/Growth Potential Analysis by Region
  5.6. Global Agricultural Machinery Demand Share Forecast, 2019-2026
6. North America Agricultural Machinery Market Analysis and Forecast
  6.1. Introduction
     6.1.1. Basis Point Share (BPS) Analysis by Country
     6.1.2. Y-o-Y Growth Projections by Country
  6.2. North America Agricultural Machinery Market Size and Volume Forecast by Country
     6.2.1. U.S.
     6.2.2. Canada
  6.3. Absolute $ Opportunity Assessment by Country
  6.4. Market Attractiveness/Growth Potential Analysis
     6.4.1. By Country
     6.4.2. By Product Type
     6.4.3. By Application
  6.5. North America Agricultural Machinery Demand Share Forecast, 2019-2026
7. Latin America Agricultural Machinery Market Analysis and Forecast
  7.1. Introduction
     7.1.1. Basis Point Share (BPS) Analysis by Country
     7.1.2. Y-o-Y Growth Projections by Country
     7.1.3. Latin America Average Pricing Analysis
  7.2. Latin America Agricultural Machinery Market Size and Volume Forecast by Country
      7.2.1. Brazil
      7.2.2. Mexico
      7.2.3. Rest of Latin America
   7.3. Absolute $ Opportunity Assessment by Country
  7.4. Market Attractiveness/Growth Potential Analysis
     7.4.1. By Country
     7.4.2. By Product Type
     7.4.3. By Application
  7.5. Latin America Agricultural Machinery Demand Share Forecast, 2019-2026
8. Europe Agricultural Machinery Market Analysis and Forecast
  8.1. Introduction
     8.1.1. Basis Point Share (BPS) Analysis by Country
     8.1.2. Y-o-Y Growth Projections by Country
     8.1.3. Europe Average Pricing Analysis
  8.2. Europe Agricultural Machinery Market Size and Volume Forecast by Country
     8.2.1. Germany
     8.2.2. France
     8.2.3. Italy
     8.2.4. U.K.
     8.2.5. Spain
     8.2.6. Russia
     8.2.7. Rest of Europe
  8.3. Absolute $ Opportunity Assessment by Country
  8.4. Market Attractiveness/Growth Potential Analysis
     8.4.1. By Country
     8.4.2. By Product Type
     8.4.3. By Application
  8.5. Europe Agricultural Machinery Demand Share Forecast, 2019-2026
9. Asia Pacific Agricultural Machinery Market Analysis and Forecast
  9.1. Introduction
     9.1.1. Basis Point Share (BPS) Analysis by Country
     9.1.2. Y-o-Y Growth Projections by Country
     9.1.3. Asia Pacific Average Pricing Analysis
  9.2. Asia Pacific Agricultural Machinery Market Size and Volume Forecast by Country
     9.2.1. China
     9.2.2. Japan
     9.2.3. South Korea
     9.2.4. India
     9.2.5. Australia
     9.2.6. Rest of Asia Pacific (APAC)
  9.3. Absolute $ Opportunity Assessment by Country
  9.4. Market Attractiveness/Growth Potential Analysis
     9.4.1. By Country
     9.4.2. By Product Type
     9.4.3. By Application
  9.5. Asia Pacific Agricultural Machinery Demand Share Forecast, 2019-2026
10. Middle East & Africa Agricultural Machinery Market Analysis and Forecast
  10.1. Introduction
     10.1.1. Basis Point Share (BPS) Analysis by Country
     10.1.2. Y-o-Y Growth Projections by Country
     10.1.3. Middle East & Africa Average Pricing Analysis
  10.2. Middle East & Africa Agricultural Machinery Market Size and Volume Forecast by Country
     10.2.1. Saudi Arabia
     10.2.2. South Africa
     10.2.3. UAE
     10.2.4. Rest of Middle East & Africa (MEA)
  10.3. Absolute $ Opportunity Assessment by Country
  10.4. Market Attractiveness/Growth Potential Analysis
     10.4.1. By Country
     10.4.2. By Product Type
     10.4.3. By Application
  10.5. Middle East & Africa Agricultural Machinery Demand Share Forecast, 2019-2026
11. Competition Landscape
  11.1. Global Agricultural Machinery Market: Market Share Analysis
  11.2. Agricultural Machinery Distributors and Customers
  11.3. Agricultural Machinery Market: Competitive Dashboard
  11.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
     11.4.1. AGCO Corporation CLAAS Group Kverneland Group Same Deutz-Fahr Deutschland GmbH Deere & Company.
Segments Covered in the Report
North America agricultural machinery market has been bifurcated on the basis of

Types
  • Tractors
    • Less than 40 HP
    • 40 to 100 HP
    • Above 100 HP
    • 4 WD Farm Tractors
  • Equipments
    • Harrow
    • Plow
    • Cultivators and Tillers
    • Other
  • Irrigation Machinery
    • Drip Irrigation
    • Sprinkler Irrigation
    • Others
  • Harvesting Machinery
    • Forage Harvester
    • Combine Harvester
    • Other
  • Haying and Forage Machinery
    • Mowers
    • Balers
    • Others
  • Other Types
Geographies
  • United States
  • Mexico
  • Canada
  • Rest of North America
Key players
  • AGCO Corporation
  • CLAAS Group
  • Kverneland Group
  • Same Deutz-Fahr Deutschland GmbH
  • Deere & Company.

Key players competing in the North America agricultural machinery market include AGCO Corporation; CLAAS Group; Kverneland Group; Same Deutz-Fahr Deutschland GmbH; Deere & Company.

Some of these players are targeting on business strategies such as mergers, acquisitions, partnerships, collaborations, capacity expansion, and product launches to increase their market shares. For instance

North America Agricultural Machinery Market By Key Players

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