Agriculture Equipment Market in U.S. Grew by 2.8% in 2022, Favourable Climate and Increasing Demand For Crop Production Favouring Agriculture Equipment Sales in the U.S. - Arizton

U.S. AGRICULTURAL EQUIPMENT MARKET REPORT SCOPE

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MARKET INSIGHTS

The U.S. has over 333.2 million food consumers and is the largest food market in North America. The country witnessed a massive increase in farm mechanization in terms of agricultural and industrial productivity.

The agriculture equipment market in the U.S. grew by 2.8% in 2022 from 2021. The increase in crop production and agricultural equipment sales was due to the favorable climate in 2022.

The U.S. government plans schemes and initiatives to facilitate credit and improve agriculture-related operations, which will contribute to the growth of the overall value chain of the market.

USE OF ENERGY-EFFICIENT AGRI EQUIPMENT

In recent years the use of electric vehicles gaining popularity. Electric vehicles have become more popular for various applications. Electric tractors or related farm machinery are widely used in the industry for various indoor and outdoor applications. The rising trend of automation and increasing environmental concerns will accelerate growth. Farmers in developed countries are looking for electric equipment to reduce the cost of fuel and replace them with traditional (diesel fuel) equipment. For instance, in 2021, US-based tractor manufacturer Solectrac announced the launch of its new 70 HP, 60 kWh electric tractor.

The United States government intends to improve the living conditions of those involved in the supply chain and provide 100%. They also announced a 40% reduction in total GHG emissions by 2030, with a goal of zero emissions by 2040. As a result, demand for energy-efficient agricultural equipment is expected to skyrocket in the United States in the coming years.

KEY VENDORS

MARKET SEGMENTATION

Equipment Type

Application Type

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Mexico Tractors Market -  Mexico tractors market size was valued at 10,832 units in 2021, expected to grow exponentially with a CAGR of 3.79%, to reach 14,058 units by 2028. In 2021, the 50-100HP segment accounted for the largest share due to the increasing purchasing power of farmers due to better MSP and crop realization in Mexico.

UK Agriculture Equipment Market -  The UK agricultural equipment market witnessed shipments of 28,970 units in 2022, which is expected to reach 35,796 units by 2028 growing at a CAGR of 3.59% during the forecast period. The UK accounted for around 9% of the agricultural equipment sold in Europe in 2022. This represents that the UK market provides a significant opportunity to OEMs for agriculture equipment sales. In 2022, the tractor segment accounted for the largest market share of the overall industry by equipment type.

U.S. Lawn and Garden Tractor Market -  The U.S. lawn and garden tractor market is expected to reach USD 1.031 billion by 2027, growing at a CAGR of 4.13% from 2021-2027. The garden and lawn tractors are compact utility tractors with a heavy-duty design used for mowing garden yards, green cover areas, and others, which are highly influenced by the weather conditions. The demand for garden tractors arises in summer and spring, increasing time spent on lawn care activities. On the other hand, golf courses are becoming more popular across developed and developing countries. Golf courses require regular ground maintenance and upkeep of the field, which necessitates using lawn and garden tractors.

U.S. Tractors Market – U.S. tractors market is expected to grow at a CAGR of over 3% from 2022 to 2028 and is expected to reach 4,13,243 units by 2028 from 3,17,897 units in 2021. North America accounts for almost 11% of the global agriculture tractor market in volume. In 2021, the less than 50 HP segment accounted for the largest share due to its compact size and flexible operational capabilities. In North America, the United States represents a high level of farm mechanization. The U.S. is a global leader in agriculture exports.

TABLE OF CONTENT

1 RESEARCH METHODOLOGY

2 RESEARCH OBJECTIVES

3 RESEARCH PROCESS

4 SCOPE & COVERAGE

4.1 MARKET DEFINITION

4.1.1 INCLUSIONS

4.1.2 EXCLUSIONS

4.1.3 MARKET ESTIMATION CAVEATS

4.2 BASE YEAR

4.3 SCOPE OF THE STUDY

5 REPORT ASSUMPTIONS & CAVEATS

5.1 KEY CAVEATS

5.2 CURRENCY CONVERSION

5.3 MARKET DERIVATION

6 MARKET AT A GLANCE

7 PREMIUM INSIGHTS

8 INTRODUCTION

8.1 OVERVIEW

8.2 VALUE CHAIN ANALYSIS

8.2.1 OVERVIEW

8.2.2 RAW MATERIAL & COMPONENT SUPPLIERS

8.2.3 MANUFACTURERS

8.2.4 DEALERS/DISTRIBUTORS

8.2.5 RETAILERS

8.2.6 END-USERS

8.3 DISTRIBUTION CHANNELS FOR FARM EQUIPMENT

8.3.1 FINANCING OPTIONS FOR ACQUIRING FARM MACHINERY

8.4 SWOT ANALYSIS OF U.S. AGRICULTURAL EQUIPMENT INDUSTRY

8.5 GOVERNMENT SUPPORT TO FARMERS

8.6 INCREASING ADOPTION OF PRECISION FARMING

8.7 AGRICULTURAL LAND-HOLDING STRUCTURES

8.8 IMPORT & EXPORT ANALYSIS

8.9 TECHNOLOGICAL ADVANCES

9 MARKET OPPORTUNITIES & TRENDS

9.1 TECHNOLOGICAL ADVANCES IN AGRICULTURAL EQUIPMENT TECHNOLOGY

9.1.1 SWATH CONTROL AND VARIABLE RATE TECHNOLOGY

9.1.2 HIGH DEMAND FOR AUTONOMOUS EQUIPMENT

9.2 SHORTAGE OF AGRICULTURAL LABORERS

9.3 USE OF ENERGY-EFFICIENT AGRI EQUIPMENT

9.4 HIGH LOCAL PRODUCTION CAPACITIES IN THE U.S.

10 MARKET GROWTH ENABLERS

10.1 ASSISTANCE TO FARMERS THROUGH LOANS & SUBSIDIES

10.2 INCREASED AGRICULTURAL PRODUCTIVITY & EXPORTS

10.3 INCREASED FARM MECHANIZATION

11 MARKET RESTRAINTS

11.1 LACK OF AWARENESS OF THE LATEST INNOVATIONS IN AGRICULTURAL EQUIPMENT

11.2 HIGH DEMAND FOR USED & RENTAL AGRI EQUIPMENT

11.3 CLIMATE CHANGE ADVERSELY IMPACTS AGRICULTURAL ACTIVITIES

12 MARKET LANDSCAPE

12.1 MARKET OVERVIEW

12.2 MARKET SIZE & FORECAST

12.3 FIVE FORCES ANALYSIS

12.3.1 THREAT OF NEW ENTRANTS

12.3.2 BARGAINING POWER OF SUPPLIERS

12.3.3 BARGAINING POWER OF BUYERS

12.3.4 THREAT OF SUBSTITUTES

12.3.5 COMPETITIVE RIVALRY

13 EQUIPMENT TYPE

13.1 MARKET SNAPSHOT & GROWTH ENGINE

13.2 MARKET OVERVIEW

13.3 TRACTORS

13.3.1 MARKET OVERVIEW

13.3.2 MARKET SIZE & FORECAST

13.3.3 HORSEPOWER: MARKET SIZE AND FORECAST

13.3.4 WHEEL-DRIVE: MARKET SIZE AND FORECAST

13.4 PLANTING EQUIPMENT

13.4.1 MARKET SNAPSHOT & GROWTH ENGINE

13.4.2 MARKET OVERVIEW

13.4.3 MARKET SIZE & FORECAST

13.4.4 SEEDER: MARKET SIZE & FORECAST

13.4.5 PLANTER: MARKET SIZE & FORECAST

13.4.6 TRANSPLANTER: MARKET SIZE & FORECAST

13.5 TILLAGE EQUIPMENT

13.5.1 MARKET SNAPSHOT & GROWTH ENGINE

13.5.2 MARKET OVERVIEW

13.5.3 MARKET SIZE & FORECAST

13.5.4 PLOUGH: MARKET SIZE & FORECAST

13.5.5 HARROW: MARKET SIZE & FORECAST

13.5.6 TILLER: MARKET SIZE & FORECAST

13.6 HARVESTING EQUIPMENT

13.6.1 MARKET SNAPSHOT & GROWTH ENGINE

13.6.2 MARKET OVERVIEW

13.6.3 MARKET SIZE & FORECAST

13.6.4 TRACTOR-MOUNTED HARVESTER: MARKET SIZE & FORECAST

13.6.5 TRAILED FORAGE HARVESTER: MARKET SIZE & FORECAST

13.6.6 SELF-PROPELLED COMBINE HARVESTER: MARKET SIZE & FORECAST

13.7 MOWING EQUIPMENT

13.7.1 MARKET SNAPSHOT & GROWTH ENGINE

13.7.2 MARKET OVERVIEW

13.7.3 MARKET SIZE & FORECAST

13.7.4 MOWER: MARKET SIZE & FORECAST

13.7.5 WINDROWER: MARKET SIZE & FORECAST

13.8 SPRAYER

13.8.1 MARKET OVERVIEW

13.8.2 MARKET SIZE & FORECAST

13.9 OTHER EQUIPMENT

13.9.1 MARKET SNAPSHOT & GROWTH ENGINE

13.9.2 MARKET OVERVIEW

13.9.3 MARKET SIZE & FORECAST

13.9.4 LOADER: MARKET SIZE & FORECAST

13.9.5 BALER: MARKET SIZE & FORECAST

14 APPLICATION TYPE

14.1 MARKET SNAPSHOT & GROWTH ENGINE

14.2 MARKET OVERVIEW

14.3 LAND DEVELOPMENT AND SEEDBED PREPARATION

14.3.1 MARKET OVERVIEW

14.3.2 MARKET SIZE & FORECAST

14.4 SOWING AND PLANTING

14.4.1 MARKET OVERVIEW

14.4.2 MARKET SIZE & FORECAST

14.5 PLANT PROTECTION

14.5.1 MARKET OVERVIEW

14.5.2 MARKET SIZE & FORECAST

14.6 HARVESTING AND THRESHING

14.6.1 MARKET OVERVIEW

14.6.2 MARKET SIZE & FORECAST

14.7 POST HARVESTING

14.7.1 MARKET OVERVIEW

14.7.2 MARKET SIZE & FORECAST

15 COMPETITIVE LANDSCAPE

15.1 COMPETITION OVERVIEW

15.1.1 RECENT DEVELOPMENTS BY TOP BRANDS

15.1.2 BRAND LOYALTY

15.1.3 SALES & EXPORTS

16 KEY COMPANY PROFILES

16.1 JOHN DEERE

16.1.1 BUSINESS OVERVIEW

16.1.2 PRODUCT OFFERINGS

16.1.3 KEY STRATEGIES

16.1.4 KEY STRENGTHS

16.1.5 KEY OPPORTUNITIES

16.2 CNH INDUSTRIAL

16.3 AGCO

16.4 KUBOTA

17 OTHER PROMINENT VENDORS

17.1 SDF

17.1.1 BUSINESS OVERVIEW

17.1.2 PRODUCT OFFERINGS

17.2 JCB

17.3 CLAAS

17.4 MAHINDRA

17.5 FOTON

17.6 KIOTI

17.7 SONALIKA

17.8 YANMAR

18 REPORT SUMMARY

18.1 KEY TAKEAWAYS

18.2 STRATEGIC RECOMMENDATIONS

19 QUANTITATIVE SUMMARY

19.1 MARKET BY EQUIPMENT TYPE

19.2 MARKET BY APPLICATION TYPE

20 APPENDIX

20.1 ABBREVIATIONS

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