According to Arizton’s latest research report, the US agriculture equipment market is growing at a CAGR of 3.62% during 2023-2029.
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The US Agricultural Equipment Market Report Scope
Market Size (2029): 950.26 Thousand Units
Market Size (2023): 767.88 Thousand Units
CAGR (2023-2029): 3.62%
Historic Year: 2020-2022
Base Year: 2023
Forecast Year: 2024-2029
Market Segmentation: Seedling & Planting, Agriculture Tractors, Land Preparation, Plant Protection, Harvesting, Other Equipment
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Key Highlights:
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Elon Musk’s SpaceX has partnered with John Deere to integrate Starlink technology into farm equipment, enhancing connectivity for rural farmers. This collaboration aims to improve access to precision agriculture tools, enabling more efficient farming operations and better resource management.
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In 2024, AGCO introduced the new 30-foot Momentum planter from its Fendt brand, designed for medium-sized to small farms up to around 1,000 acres. Key features include a Vertical Contouring Toolbar following field topography, SmartFrame technology to position each row unit, and carrying 100 bushels of seed and 800 gallons of liquid fertilizer.
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In March 2024, Case IH launched AFS Connect Steiger Series Tractors, these high-horsepower tractors come equipped with advanced telemetry and data management features for improved farm management.
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In January 2024, StrongLike launched the SL-F LEX Hybrid robotic fruit harvester that uses AI to pick apples, thus reducing damage and labor costs gently.
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John Deere launched a precision upgrade program in 2023 in the US that allows farmers to retrofit existing equipment with the company's latest precision farming technologies instead of having to purchase all-new machinery.
Market Trends
Farm mechanization is transforming the US agricultural landscape! In 1990, around 2%-3% of Americans were involved in farming. By 2023, this figure dropped to about 1% and is expected to fall to 0.5% by 2030. This shift underscores the increasing need for advanced farm mechanization.
Despite its agricultural prowess, the US has one of the world's lowest mechanization rates at approximately 40%, compared to 90-100% in other developed nations and over 70% in China. This low rate, coupled with a reliance on fossil fuel-powered machinery like tractors and diesel engines, is set to drive significant growth in the agricultural equipment market.
Key agricultural states such as California, Iowa, and Nebraska are rapidly adopting new technologies to boost productivity and profitability. The rise in export demand for fruits and flowers has also led to a surge in compact agricultural equipment, with brands like JCB and CLAAS capitalizing on this trend.
Farmers are investing in advanced machinery to replace older equipment, spurring demand for new technologies. Innovations such as data analytics, telematics, remote sensing, GPS, and mobile tech are enhancing precision and efficiency in farming. Features like field mapping, auto-steering, and optimized fuel use, as well as fertilizers and seeds, are becoming standard, while vehicle-to-vehicle control systems further improve fuel efficiency and productivity.
Compact tractors, ideal for soft soil conditions and customization, are gaining traction, supporting ongoing experimentation and development. Together, these advancements promise to revolutionize the US agricultural sector, driving efficiency and productivity through increased mechanization.
Growing Demand for Self-Propelled Harvesters in the US Agricultural Machinery Market
The self-propelled harvester segment is making significant strides in the US agricultural machinery market! In 2023, self-propelled harvesters held a 5.4% share of the overall harvesting equipment market.
These advanced machines are essential for efficiently harvesting crops like soybeans, rice, wheat, and corn, especially in a country with high labor costs. As mechanization in agriculture continues to rise, so does the demand for self-propelled harvesters. The market is fueled by the need to enhance efficiency, government subsidies for farm mechanization, and the growing adoption of modern farming practices.
Looking ahead, technological advancements such as GPS integration and automation are set to propel further growth in the self-propelled harvester market. As farmers increasingly seek to boost productivity and reduce labor costs, this sector is poised for continued expansion.
Why Should You Buy this Report?
This report is among the few in the market that offer outlook and opportunity analyses forecast in terms of the following:
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Market Size & Forecast Volume (Units) 2020–2029
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Segmentation by Equipment Type
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Production and trade values
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Major current and upcoming projects and investments
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Competitive intelligence about the economic scenario, advantages, industry dynamics, and industry shares
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Innovative technologies
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Share by each equipment segment
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Company profiles of major and other prominent vendors
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Company profiles of distributors
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Market shares of major vendors
US Agriculture Equipment Market Dynamics
Drivers
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Assistance to Farmers Through Loans and Subsidies
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Increased Agriculture Productivity and Exports
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Increased Farm Mechanization Boosting Demand for Agriculture Equipment Across the Country
Trends
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Rising Focus on Compact & Electric Agriculture Equipment
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Growing Prospect of Precision Farming
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Integration of Digital Technologies
Challenges
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Skilled Labor Shortage
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High Demand for Rental & Used Agriculture Equipment
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Major Vendors
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John Deere
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AGCO
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CNH Industrial
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Kubota
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Mahindra
Other Prominent Vendors
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Yanmar
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SDF
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CLAAS
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KIOTI
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ISEKI & CO., LTD.
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LOVOL
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TAFE
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Argo Tractors S.p.A.
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AMAZONEN
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METALFOR
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MERLO S.p.A.
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Bobcat
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Caterpillar
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Great Plains Ag
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Arbos Group
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BCS S.p.A.
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LS MTRON LTD.
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Changfa
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Wuzheng Group
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YTO
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Zoomlion Heavy Industry Science & Technology Co., Ltd.
Market Segmentation by
Equipment Type
Seedling & Planting
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Planters
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Seed Drillers
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Transplanters
Agriculture Tractors
Horsepower Type
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Less Than 40 HP
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40-100 HP
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Above 100 HP
Wheel Drive Type
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2-Wheel-Drive
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4-Wheel-Drive
Land Preparation
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Tillers
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Plough
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Harrow
Plant Protection
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Sprayers
Harvesting
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Tractor-Mounted
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Self-Propelled
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Trailed
Other Equipment
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Mowers
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Windrowers
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Others (Loader and Balers)
Key Questions Answered in the Report:
What are the trends in the U.S. agriculture equipment industry?
How big is the U.S. agriculture equipment market?
What is the growth rate of the U.S. agriculture equipment market?
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