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United States Agricultural Tractor Machinery Market Size: By Engine Power: Less Than 35 HP, 36 HP – 100 HP, 101 HP – 200 HP, 201 HP – 350 HP, Greater Than 350 HP; By Type: Orchard Tractors, Row-Crop Tractors, Others; By Drive Type: Two-Wheel Drive, Four-Wheel Drive; By Propulsion; Regional Analysis; Competitive Landscape; 2024-2032
United States Agricultural Tractor Machinery Market Outlook
The United States agricultural tractor machinery market size reached approximately USD 13.61 billion in 2023. The market is further projected to grow at a CAGR of 5.5% between 2024 and 2032, reaching a value of USD 22.16 billion by 2032.
Key Trends in the Market
Agricultural tractor machinery is designed to provide high torque at low speeds for successful completion of various tasks, including harvesting, ploughing, planting, and tilling, among others. These machines are equipped with powerful hydraulic systems, engines, and large traction tyres, enabling them to perform a wide range of agricultural tasks.
- The increasing costs of labour in the country are boosting the United States agricultural tractor machinery market growth. Farmers, agriculturists, and agronomists are investing in various machineries, including tractors to enhance farm productivity and boost crop yield to meet the growing food requirements.
- The rising integration of advanced technologies, including GPS, sensors, automated systems, and geo-mapping, among others with tractor machinery is providing lucrative growth opportunities to the market. These advanced technologies aid in predicting weather patterns and evaluating the nutrient content and health of the soil, among others.
- The rising concerns about the environment and increasing emphasis on reducing operational costs is bolstering the adoption of electric agricultural tractor machinery. These machines produce no carbon emissions and reduce operation costs by eliminating the requirement for fuels, including diesel.
United States Agricultural Tractor Machinery Market Segmentation
On the basis of engine power, the market is divided into less than 35 HP, 36 HP- 100 HP, 101 HP- 200 HP, 201 HP- 350 HP, and greater than 350 HP. Based on type, the market is classified into orchard tractors and row-crop tractors, among others.
On the basis of drive type, the market is bifurcated into two-wheel drive and four-wheel drive. Based on propulsion, the market is segregated into internal combustion engine and electric and hybrid. On the basis of region, the market is segmented into New England, Mideast, Great Lakes, Plains, Southeast, Southwest, Rocky Mountain, and Far West.
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the United States agricultural tractor machinery market, covering their competitive landscape and latest developments like mergers, acquisitions, investments, and expansion plans.
- Deere & Company
- AGCO Corporation
- CNH Industrial NV
- CLAAS KGaA mbH
- Kubota Corporation
- Yanmar Holdings Co., Ltd.
- SDF S.p.A (Deutz-Fahr)
- Mahindra & Mahindra Ltd.
- Ideanomics Inc. (Solectrac, Inc.)
- LS Tractor USA, LLC
- Others
Market Share by Type
As per the United States agricultural tractor machinery market analysis, raw-crop tractors are anticipated to witness significant growth over the coming years. This growth can be attributed to the rising unavailability of cheap labour and increasing food requirements in the country. The growing awareness about the various advantages associated with their utilisation, including greater ground clearance, good row spacing, provision of power lift, and quick and easy attachment and detachment of implements, among others is further bolstering their utilisation. These tractors find applications in harrowing, ploughing, and weed control, among others.
Market Share by Propulsion
Electric and hybrid tractors are anticipated to account for a significant United States agricultural tractor machinery market share. This growth can be attributed to the energy efficient nature of the machinery and low operation costs associated with their utilisation as compared to their counterparts. These vehicles receive power from charging stations and electric outlets. The electric energy from the battery is received by the motor and converted into mechanical energy, so as to operate the tractor. By eliminating the costs for fuels, they aid farmers and agriculturists in boosting profits. The added benefit of no carbon dioxide emissions is further bolstering the United States agricultural tractor machinery market demand.
Competitive Landscape
Deere & Company provides services, advanced products, and technologies for customers working in the field of construction and agriculture. The company was founded in 1837 and is headquartered in Illinois, United States.
AGCO Corporation is one of the leading distributors, manufacturers, and designers of smart solutions for sustainable agriculture. The company specialises in animal protein production technology, seeding and tillage implements, and agricultural tractors, among others.
CNH Industrial NV provides world class technology and products for agricultural and construction applications. The products provided by the company include tractors, combines, forage equipment, tillage equipment, and hay tools, among others.
Other United States agricultural tractor machinery market players include CLAAS KGaA mbH, Kubota Corporation, Yanmar Holdings Co., Ltd., SDF S.p.A (Deutz-Fahr), Mahindra & Mahindra Ltd., Ideanomics Inc. (Solectrac, Inc.), and LS Tractor USA, LLC, among others.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Engine Power |
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| Breakup by Type |
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| Breakup by Drive Type |
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| Breakup by Propulsion |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
7 Opportunities and Challenges in the Market
8 North America Agricultural Tractor Machinery Market Overview
8.1 Key Industry Highlights
8.2 North America Agricultural Tractor Machinery Historical Market (2018-2023)
8.3 North America Agricultural Tractor Machinery Market Forecast (2024-2032)
8.4 North America Agricultural Tractor Machinery Market breakup by Country
8.4.1 United States
8.4.2 Canada
9 United States Agricultural Tractor Machinery Market Overview
9.1 Key Industry Highlights
9.2 United States Agricultural Tractor Machinery Historical Market (2018-2023)
9.3 United States Agricultural Tractor Machinery Market Forecast (2024-2032)
10 United States Agricultural Tractor Machinery Market by Engine Power
10.1 Less Than 35 HP
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 36 HP -100 HP
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 101 HP – 200 HP
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 201 HP – 350 HP
10.4.1 Historical Trend (2018-2023)
10.4.2 Forecast Trend (2024-2032)
10.5 Greater Than 350 HP
10.5.1 Historical Trend (2018-2023)
10.5.2 Forecast Trend (2024-2032)
11 United States Agricultural Tractor Machinery Market by Type
11.1 Orchard Tractors
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Row-Crop Tractors
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 Others
12 United States Agricultural Tractor Machinery Market by Drive Type
12.1 Two-Wheel Drive
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Four-Wheel Drive
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
13 United States Agricultural Tractor Machinery Market by Propulsion
13.1 Internal Combustion Engine
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 Electric and Hybrid
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
14 United States Agricultural Tractor Machinery Market by Region
14.1 New England
14.1.1 Historical Trend (2018-2023)
14.1.2 Forecast Trend (2024-2032)
14.2 Mideast
14.2.1 Historical Trend (2018-2023)
14.2.2 Forecast Trend (2024-2032)
14.3 Great Lakes
14.3.1 Historical Trend (2018-2023)
14.3.2 Forecast Trend (2024-2032)
14.4 Plains
14.4.1 Historical Trend (2018-2023)
14.4.2 Forecast Trend (2024-2032)
14.5 Southeast
14.5.1 Historical Trend (2018-2023)
14.5.2 Forecast Trend (2024-2032)
14.6 Southwest
14.6.1 Historical Trend (2018-2023)
14.6.2 Forecast Trend (2024-2032)
14.7 Rocky Mountain
14.7.1 Historical Trend (2018-2023)
14.7.2 Forecast Trend (2024-2032)
14.8 Far West
14.8.1 Historical Trend (2018-2023)
14.8.2 Forecast Trend (2024-2032)
15 Market Dynamics
15.1 SWOT Analysis
15.1.1 Strengths
15.1.2 Weaknesses
15.1.3 Opportunities
15.1.4 Threats
15.2 Porter’s Five Forces Analysis
15.2.1 Supplier’s Power
15.2.2 Buyer’s Power
15.2.3 Threat of New Entrants
15.2.4 Degree of Rivalry
15.2.5 Threat of Substitutes
15.3 Key Indicators for Demand
15.4 Key Indicators for Price
16 Trade Data Analysis (HS Code-8701)
16.1 Major Importing Countries
16.1.1 By Volume
16.1.2 By Value
16.2 Major Exporting Countries
16.2.1 By Volume
16.2.2 By Value
17 Competitive Landscape
17.1 Market Structure
17.2 Company Profiles
17.2.1 Deere & Company
17.2.1.1 Company Overview
17.2.1.2 Product Portfolio
17.2.1.3 Demographic Reach and Achievements
17.2.1.4 Certifications
17.2.2 AGCO Corporation
17.2.2.1 Company Overview
17.2.2.2 Product Portfolio
17.2.2.3 Demographic Reach and Achievements
17.2.2.4 Certifications
17.2.3 CNH Industrial NV
17.2.3.1 Company Overview
17.2.3.2 Product Portfolio
17.2.3.3 Demographic Reach and Achievements
17.2.3.4 Certifications
17.2.4 CLAAS KGaA mbH
17.2.4.1 Company Overview
17.2.4.2 Product Portfolio
17.2.4.3 Demographic Reach and Achievements
17.2.4.4 Certifications
17.2.5 Kubota Corporation
17.2.5.1 Company Overview
17.2.5.2 Product Portfolio
17.2.5.3 Demographic Reach and Achievements
17.2.5.4 Certifications
17.2.6 Yanmar Holdings Co., Ltd.
17.2.6.1 Company Overview
17.2.6.2 Product Portfolio
17.2.6.3 Demographic Reach and Achievements
17.2.6.4 Certifications
17.2.7 SDF S.p.A (Deutz-Fahr)
17.2.7.1 Company Overview
17.2.7.2 Product Portfolio
17.2.7.3 Demographic Reach and Achievements
17.2.7.4 Certifications
17.2.8 Mahindra & Mahindra Ltd.
17.2.8.1 Company Overview
17.2.8.2 Product Portfolio
17.2.8.3 Demographic Reach and Achievements
17.2.8.4 Certifications
17.2.9 Ideanomics Inc. (Solectrac, Inc.)
17.2.9.1 Company Overview
17.2.9.2 Product Portfolio
17.2.9.3 Demographic Reach and Achievements
17.2.9.4 Certifications
17.2.10 LS Tractor USA, LLC
17.2.10.1 Company Overview
17.2.10.2 Product Portfolio
17.2.10.3 Demographic Reach and Achievements
17.2.10.4 Certifications
17.2.11 Others
18 Key Trends and Developments in the Market
List of Key Figures and Tables
1. North America Agricultural Tractor Machinery Market: Key Industry Highlights, 2018 and 2032
2. United States Agricultural Tractor Machinery Market: Key Industry Highlights, 2018 and 2032
3. United States Agricultural Tractor Machinery Historical Market: Breakup by Engine Power (USD Billion), 2018-2023
4. United States Agricultural Tractor Machinery Market Forecast: Breakup by Engine Power (USD Billion), 2024-2032
5. United States Agricultural Tractor Machinery Historical Market: Breakup by Type (USD Billion), 2018-2023
6. United States Agricultural Tractor Machinery Market Forecast: Breakup by Type (USD Billion), 2024-2032
7. United States Agricultural Tractor Machinery Historical Market: Breakup by Drive Type (USD Billion), 2018-2023
8. United States Agricultural Tractor Machinery Market Forecast: Breakup by Drive Type (USD Billion), 2024-2032
9. United States Agricultural Tractor Machinery Historical Market: Breakup by Propulsion (USD Billion), 2018-2023
10. United States Agricultural Tractor Machinery Market Forecast: Breakup by Propulsion (USD Billion), 2024-2032
11. United States Agricultural Tractor Machinery Historical Market: Breakup by Region (USD Billion), 2018-2023
12. United States Agricultural Tractor Machinery Market Forecast: Breakup by Region (USD Billion), 2024-2032
13. Major Importing Countries by Volume
14. Major Exporting Countries by Volume
15. Major Importing Countries by Value
16. Major Exporting Countries by Value
17. United States Agricultural Tractor Machinery Market Structure
Key Questions Answered in the Report
The market reached a value of approximately USD 13.61 billion in 2023.
The market is projected to grow at a CAGR of 5.5% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach USD 22.16 billion by 2032.
The major market drivers include increasing costs of labour in the country and rising adoption of electric agricultural tractor machinery due to increasing environmental concerns.
The key trends fuelling the growth of the market include rising emphasis on reducing operational costs and growing integration of advanced technologies, including GPS, sensors, automated systems, and geo-mapping, among others with tractor machinery.
The major regions in the market are New England, Mideast, Great Lakes, Plains, Southeast, Southwest, Rocky Mountain, and Far West.
The different engine powers include 35 HP, 36 HP- 100 HP, 101 HP- 200 HP, 201 HP- 350 HP, and greater than 350 HP.
The key players in the market are Deere & Company, AGCO Corporation, CNH Industrial NV, CLAAS KGaA mbH, Kubota Corporation, Yanmar Holdings Co., Ltd., SDF S.p.A (Deutz-Fahr), Mahindra & Mahindra Ltd., Ideanomics Inc. (Solectrac, Inc.), and LS Tractor USA, LLC, among others.
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