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

CHICAGO, Feb. 23, 2023 /PRNewswire/ -- Arizton's latest research report states that the U.S. agriculture equipment market will grow at a CAGR of 3.52% from 2022-2028. Technological advances in agricultural equipment technology, shortage of agricultural laborers, use of energy-efficient agricultural equipment, and high local production capacities in the region are key trends in the U.S. agricultural equipment market.

Agricultural practices in the U.S. are typically characterized by automated irrigation systems and agricultural machinery, such as mechanized feedlots. As the demand for food and associated resources from the world's largest economy rises, there has been a tremendous rise in input resources, such as farm machinery used to improve productivity and efficiency. Moreover, the agriculture sector in the U.S. is typically marked by a tremendous decline in the labor force, a consistent rise in productivity, and the consolidation of smaller farms into larger ones. Over the past three decades, there has been a 50% decline in the labor force engaged in the agriculture sector, while productivity increased by as much as 4.5% YOY due to farm mechanization. This indicates the maturity of farm machinery in the country. The saturation in the market has also contributed to the country's slow growth of the agriculture equipment industry. However, the agriculture equipment market in the U.S. is expected to witness replacement demand as farmers consider more advanced agricultural equipment.

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

• John Deere
• CNH Industrial
• AGCO
• Kubota
• SDF
• JCB
• CLAAS
• Mahindra
• Foton Motor
• KIOTI
• Sonalika
• Yanmar

MARKET SEGMENTATION

Equipment Type

• Tractors (Horsepower and Wheel-Drive)
• Planting Equipment (Seeder, Planter, and Transplanter)
• Tillage Equipment (Plough, Harrow, and Tiller)
• Harvesting Equipment (Tractor-Mounted Harvester, Trailed Forage Harvester, and Self-Propelled Combines)
• Mowing Equipment (Mower and Windrower)
• Sprayer
• Other Equipment (Loader and Baler)

Application Type

• Land Development and Seed Bed Preparation
• Sowing and Planting
• Plant Protection
• Harvesting and Threshing
• Post Harvesting

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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

About Us:

Arizton Advisory and Intelligence is an innovative and quality-driven firm that offers cutting-edge research solutions to clients worldwide. We excel in providing comprehensive market intelligence reports and advisory and consulting services.  

We offer comprehensive market research reports on consumer goods & retail technology, automotive and mobility, smart tech, healthcare, life sciences, industrial machinery, chemicals, materials, I.T. and media, logistics, and packaging. These reports contain detailed industry analysis, market size, share, growth drivers, and trend forecasts.  

Arizton comprises a team of exuberant and well-experienced analysts who have mastered generating incisive reports. Our specialist analysts possess exemplary skills in market research. We train our team in advanced research practices, techniques, and ethics to outperform in fabricating impregnable research reports. 

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SOURCE Arizton Advisory & Intelligence

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