Agricultural Machinery Market in the US 2017-2021

Overview of the agricultural machinery market in the US

The government and the supporting industries are providing many grants, subsidies, and favors to farmers and farm operators in the US. Our research analysis on the agricultural machinery market in the US identifies that the increasing government subsidies for farmers will be one of the major factors that will have a positive impact on the growth of the market. For instance, USDA’s sustainable agriculture research and education (SARE) program was established to encourage the sustainable farming. This program grants technical assistance to farmers and ranchers and research and education projects in both urban and rural areas. Other programs by USDA include the farmers market promotion program (FMPP), local food promotion program (LFPP), and agricultural marketing service (AMS). Technavio’s market research analysts predict that this market will grow at a CAGR of more than 5% by 2021.

One of the key trends that will stimulate growth in the agricultural machinery market in the US throughout the estimated period is the shift toward sustainable agriculture practices. Sustainable agriculture practices include the application of eco-friendly machinery and efficient agriculture machine or farm machinery. It helps farmers to optimize the use of fertilizers and pesticides in proper quantity. As a result, the purchase volume of agricultural machinery will increase.

Competitive landscape and key vendors

The agricultural machinery market in the US is highly concentrated with the presence of international players and regional vendors. Regional vendors in this agriculture and farm machinery market are finding it difficult to compete against international players in terms of reliability, technology, and price. Furthermore, the increasing product or service extension and technological innovations will strengthen the competitive scenario of the market.

Key vendors in this market are -

• Deere & Company
• CNH Industrial
• AGCO
• Kubota

Other prominent vendors in the market include CLAAS, Daedong-USA, Krone, KUHN Group, Lely, Mahindra & Mahindra, and Vermeer.

Segmentation by product and analysis of the agricultural machinery market in the US

• Tractor
• Combined harvester
• Haying machinery
• Planting and fertilizing machinery
• Plowing and cultivating machinery
• Livestock machinery

Cultivators are focusing on enhancing the agricultural output by including precision farming techniques in agriculture practices using advanced tractors and agriculture equipment. The adoption of advanced tractor is gaining popularity among farmers. The preference for fuel-compatible tractors such as LNG, CNG, kerosene, vegetable oil, diesel, and propane will continue to increase for the next four years due to the longevity of fuel engine and lower operating cost.

Growth drivers, challenges, and upcoming trends: Establishment of combined solutions for optimized agriculture practices

The adoption of integrated solutions enhances the agriculture practices and provides increased value to customers. For instance, the agriculture management solutions (AMS) was offered by Deere & Company. This solution enhances the performance of its machinery and improves the brand equity in the market.

This report provides a number of factors contributing to the adoption, limitations, and opportunities of the agricultural machinery market in the US. It also offers an analysis of each factor and an estimation of the extent to which the factors are likely to impact the overall market growth.

Key questions answered in the report include

• What will the market size and the growth rate be in 2021?
• What are the key factors driving the agricultural machinery market in the US?
• What are the key market trends impacting the growth of the agricultural machinery market in the US?
• What are the challenges to market growth?
• Who are the key vendors in the agricultural machinery market in the US?
• What are the market opportunities and threats faced by the vendors in the agricultural machinery market in the US?
• What are the trending factors influencing the market shares of the US?
• What are the key outcomes of the five forces analysis of the agricultural machinery market in the US?

Technavio also offers customization on reports based on specific client requirement.