Dec 21, 2022   SOURCE: BusinessWire

United States Agricultural Machinery Market to Reach $52.73 Billion by 2027 - ResearchAndMarkets.com

The "United States Agricultural Machinery Market, Size, Forecast 2022-2027, Industry Trends, Growth, Impact of COVID-19, Company Analysis" report has been added to ResearchAndMarkets.com's offering.

United States Agricultural Machinery Market will reach US$ 52.73 Billion by 2027. The agricultural machinery industry in the United States is considered a part of the machinery industry that comprises the machinery required to support agriculture. As per USDA, agriculture, food, and related industries contributed USD$ 1.109 Trillion to the U.S. gross domestic product (GDP) in 2019. The mechanization of farming is considered an important reason for increased sales, productivity, and export.

In addition, increased farm consolidation, a large production base, a positive economic outlook, and more incredible government support through subsidies drive sales of high-capacity agricultural machinery in the United States. The latest trend gaining momentum in the agriculture equipment market is technological innovation. Manufacturers target a new customer base by providing innovative and cost-effective products to enhance their market share. According to this report United States Agricultural Machinery Market will grow at a CAGR of 3.3% from 2021-2027.

Irrigation Machinery holds the Largest Market Share

Based on Machinery type, United States Agricultural Machinery Market includes Irrigation Machinery, Tractor by Engine Power, Plowing and Cultivation Machinery, Harvesting Machinery, and Haying, Forage Machinery, Planting Machinery and Sprayer. Irrigation Machinery holds the largest market share. The adoption rate for irrigation systems has increased over the past few years in the United States, with micro-irrigation dominating the Pacific's and sprinkler irrigation overlooking the mountains and plains.

Further, agriculture in the United States is currently being revolutionized by the rapid technological development in the tractor. For instance, United States small-scale farmers are increasingly adopting Above 40 HP Tractors as they are much smaller in size than the average farming tractors and are priced considerably lower. Despite the low-cost, compact tractors can help agriculturalists perform many tasks with the help of farm tools, such as and front-end loaders, backhoes and save labor wage expenses.

United States Agricultural Machinery Market was US$ 43.39 Billion in 2021

The United States is a considerable market for agricultural machinery globally, especially for plowing and cultivating machinery due to the country's growing popularity of no-till farming. Plowing and tillage are the immediate causes of soil erosion. Therefore, there is an increasing demand for no-till agriculture- a type of soil protection farming that prepares the land for plowing without mechanically concerning the soil. Some of the cutting-edge technologies used in ploughing and cultivating processes considerably in the United States include extensive soil sampling, GPS-enabled equipment, and real-time monitoring of soil moisture content using sensors.

COVID-19 Impact on United States Agricultural Machinery Growth Trend:

In the United States, as an impact of COVID-19, few challenges are being faced by the farm machinery manufacturing sector due to migration of labor and availability of raw material during the COVID-19 period. Export and supply got disrupted due to restricted movements and lockdowns globally. Consignments resulted in severe business losses for the manufacturers and distributors.

Competitive Landscape:

John Deere's, CNH Industrial, AGCO Corporation, KUBOTA Corporation, Mahindra Agriculture North America, Titan Machinery Inc are the major players in the United States Agricultural Machinery market. These companies here strive to strengthen their base by offering enhanced product features, competitive pricing, enhanced quality, increased scale of operation, and technological innovation.

Market Segmentation

Machinery Type - Market has been covered from 7 viewpoints

  • Irrigation Machinery
  • Tractor by Engine Power
  • Plowing and Cultivation Machinery
  • Harvesting Machinery
  • Haying and Forage Machinery
  • Planting Machinery
  • Sprayer

Irrigation Machinery

a) Gravity Irrigation

b) Micro-Irrigation

c) Sprinkler

Tractor by Engine Power

a) Above 40 HP

b) 40 < 100 HP

c) 100 + HP

Plowing and Cultivation Machinery

a) Cultivation and Tillers

b) Harrows

c) Ploughs

d) Other Product Types

Harvesting Machinery

a) Combine Harvesting

b) Harvesting Robots

c) Self-Propelled Forage Harvesters

Haying and Forage Machinery

a) Mowers

b) Balers

c) Tedders and Rakes

d) Forage Harvesters

Others

a) Planting Machinery

b) Sprayer

Company Analysis:

  • John Deere's
  • CNH Industrial
  • AGCO Corporation
  • KUBOTA Corporation
  • Mahindra Agriculture North America
  • Titan Machinery Inc

Key Topics Covered:

1. Introduction

2. Research & Methodology

3. Executive Summary

4. Market Dynamics

5. United States Agricultural Machinery Market

6. United States Agricultural Machinery Market Share Analysis - By Machinery Type

7. By Machinery Type - United States Agricultural Machinery Market

8. Porters Five Forces

9. Key Players

Companies Mentioned

  • John Deere's
  • CNH Industrial
  • AGCO Corporation
  • KUBOTA Corporation
  • Mahindra Agriculture North America
  • Titan Machinery Inc

For more information about this report visit https://www.researchandmarkets.com/r/lttq0e