US Agricultural Machinery Market Share, Growth Forecast 2031
US Agricultural Machinery Market Share, Growth Forecast 2031
Segments - United States Agricultural Machinery Market by Ploughing and Cultivating Machinery (Ploughs, Harrows, Cultivators & Tillers, and Others), Planting Machinery (Seed Drills, Planters, Spreaders, and Others), Harvesting Machinery (Combine Harvesters, Forage Harvesters, and Others), Haying and Forage Machinery (Mowers, Balers, Tedders and Rakes, and Others), Irrigation Machinery (Sprinkler Irrigation, Drip Irrigation, and Others), and Country- Industry Analysis, Growth, Share, Size, Trends, and Forecast 2023–2031
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| Report ID :CM-1466
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| 190 Pages
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Report Description
United States Agricultural Machinery Market Outlook 2031
The United States agricultural machinery market size was USD 35.01 Billion in 2022 and is projected to reach USD 60.67 Billion by 2031 expand at a CAGR of 6.3% during the forecast period, 2023-2031. The growth of the market is attributed to the increasing farm labor charges, and labor scarcity.
The COVID-19 pandemic has created few challenges, as the market relies on the manufacturing industry. The migration of labor and lack of availability of raw materials during the pandemic period had disrupted the growth of the market. Export and supply got disrupted due to restricted movements and imposition of lockdown worldwide. Consignments went on halts, which created severe business losses for the manufacturers and distributors.
Agricultural machinery manufacturers are at the forefront of change and evolution of the agriculture sector, giving rise to the modern-day integrated farm management approach. In most of the markets in the US, farmers are increasingly adopting advanced technology, such as precision farming systems and GPS-controlled agricultural machinery.
United States Agricultural Machinery Market Drivers, Restraints, Trends, and Opportunities
- Increased farm consolidation, positive economic outlook, large production base, and greater government support through subsidies are driving sales of high capacity agricultural machinery and equipment in the country.
- Rising adoption of precision farming is one of the key factors that is driving the growth of the market segment.
- Technological advancements are expected to proliferate the growth of the market.
Scope of The United States Agricultural Machinery Market Report
The report on the United States agricultural machinery market includes an assessment of the market, trends, segments and regional markets. Overview and dynamics have also been included in the report.
Agricultural Machinery plays a pivotal role in transforming traditional farming practices into more efficient and productive operations. With the advent of modern technology, machinery such as tractors, harvesters, and plows have become indispensable tools for farmers. These machines not only enhance productivity but also reduce the time and labor required for various agricultural processes. The integration of technology in agricultural machinery has led to the development of precision farming techniques, which allow for more accurate planting, watering, and harvesting, ultimately leading to higher yields and better quality produce.
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Attributes |
Details |
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Report Title |
Agricultural Machinery Market - United States Industry Analysis, Growth, Share, Size, Trends, and Forecast |
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Base Year |
2022 |
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Historic Data |
2016–2021 |
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Forecast Period |
2023–2031 |
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Segmentation |
Ploughing and Cultivating Machinery (Ploughs, Harrows, Cultivators & Tillers, and Others), Planting Machinery (Seed Drills, Planters, Spreaders and Others), Harvesting Machinery (Combine Harvesters, Forage Harvesters, and Others), Haying and Forage Machinery (Mowers, Balers, Tedders and Rakes, and Others), Irrigation Machinery (Sprinkler Irrigation, Drip Irrigation, and Others) |
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Geographical Zone |
The US |
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Report Coverage |
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast |
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Key Players Covered in the Report |
Deere & Company, CNH Industrial, AGCO Corporation, KUBOTA Corporation, Mahindra Agriculture North America |
United States Agricultural Machinery Market Segment Insights
Cultivators & tillers to hold a large market share
Based on plowing and cultivating machinery, the market is divided into ploughs, harrows, cultivators & tillers, and others. The cultivators & tillers segment to hold a largest market share and is expected to projected a CAGR of 3.7% during the forecast period. Rising trend of incorporating autonomous robotics into agriculture, to reduce the reliance on manual labor, while increasing efficiency, product yield, and quality is driving the segment growth.
An automated cultivator has been developed by the US Davis Smart Farm, California, as a part of its research initiative. These new developments can enhance the growth of cultivators in the market.
Planters segment to account a significant market share
On the basis of planting machinery, the market is classified as seed drills, planters, spreaders, and others. The planters segment is projected to account for a significant market share during the forecast period. The segment growth is owing to the increasing use of seed planters in the country.
Combine harvesters segment to register a high CAGR
In terms of harvesting machinery, the market is segregated into combine harvesters, forage harvesters, and others. The combine harvesters segment is projected to register a high CAGR during the forecast period. The segment growth is due to the rising use of combine harvesters due to the convenience the machine provides on the farms.
Mowers segment to account a considerable market share
Based on haying and forage machinery, the market is segmented into mowers, balers, tedders and rakes, and others. The mowers segment is projected to register a considerable market share during the forecast period. On the other hand, the tedders and rakes segment is expected to grow at a steady rate in the projected timeline.
Drip irrigation segment to exhibit a robust CAGR
On the basis of irrigation machinery, the market is segregated into sprinkler irrigation, drip irrigation, and others. The drip irrigation segment is projected to exhibit a high during the forecasted period. Many farmers are shifting to drip irrigation as it prevents the wastage of water. Moreover, rising government support to boost the agricultural economy is stimulating the segment growth.
Segments
The United States agricultural machinery market has been segmented on the basis of:
Ploughing and Cultivating Machinery
- Ploughs
- Harrows
- Cultivators & Tillers
- Others
Planting Machinery
- Seed Drills
- Planters
- Spreaders
- Others
Harvesting Machinery
- Combine Harvesters
- Forage Harvesters
- Others Harvesters
Haying and Forage Machinery
- Mowers
- Balers
- Tedders and Rakes
- Others
Irrigation Machinery
- Sprinkler Irrigation
- Drip Irrigation
- Others
Country
- The US
Key players
- Deere & Company
- CNH Industrial
- AGCO Corporation
- KUBOTA Corporation
- Mahindra Agriculture North America
Competitive Landscape
Some of the major players in the market are Deere & Company, CNH Industrial, AGCO Corporation, KUBOTA Corporation, Mahindra Agriculture North America.
Mergers & acquisitions, partnerships, expansion and product launches are the business strategies adopted by the major players in the market.
Frequently Asked Questions
The report covers ploughing and cultivating machinery (ploughs, harrows, cultivators & tillers), planting machinery (seed drills, planters, spreaders), harvesting machinery (combine harvesters, forage harvesters), haying and forage machinery (mowers, balers, tedders and rakes), and irrigation machinery (sprinkler and drip irrigation).
Drip irrigation is gaining popularity as it helps prevent water wastage, and its growth is further supported by government initiatives to boost the agricultural economy.
The combine harvesters segment is projected to register a high CAGR due to increased use and convenience on farms.
Key players include Deere & Company, CNH Industrial, AGCO Corporation, KUBOTA Corporation, and Mahindra Agriculture North America.
Trends include the adoption of precision farming systems, GPS-controlled machinery, and autonomous robotics to improve efficiency, yield, and reduce reliance on manual labor.
The cultivators and tillers segment holds the largest market share and is expected to grow at a CAGR of 3.7% during the forecast period.
The pandemic disrupted manufacturing, caused labor shortages, delayed raw material supply, and led to export and supply chain issues due to lockdowns, resulting in business losses for manufacturers and distributors.
Key growth drivers include increasing farm labor charges, labor scarcity, rising adoption of precision farming, technological advancements, farm consolidation, a positive economic outlook, a large production base, and government subsidies.
The market is expected to expand at a CAGR of 6.3% during the forecast period from 2023 to 2031.
The United States agricultural machinery market is projected to reach USD 60.67 billion by 2031.
Table Of Content
1. Executive Summary2. 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. Deere & Company CNH Industrial AGCO Corporation KUBOTA Corporation Mahindra Agriculture North America
Methodology
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