United States Agricultural Machinery Market Size (2024 - 2029)

The United States agricultural machinery sector is poised for significant expansion, driven by increasing mechanization and rising farmer incomes. The market's growth is further supported by the need to enhance agricultural land productivity, prompting farmers to adopt advanced machinery. Government subsidies have made it feasible for small-scale farmers to invest in this equipment, while technological advancements in agricultural robotics offer promising prospects for cost-effective food production. Despite challenges such as high initial and maintenance costs, the demand for large-capacity farm machinery, driven by labor shortages and innovative developments, is expected to propel the market forward during the forecast period.

Market Size of United States Agricultural Machinery Industry

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United States Agricultural Machinery Market Summary
Study Period 2019 - 2029
Base Year For Estimation 2023
Market Size (2024) USD 39.56 Billion
Market Size (2029) USD 53.70 Billion
CAGR (2024 - 2029) 6.30 %
Market Concentration High

Major Players

United States Agricultural Machinery Market Major Players

*Disclaimer: Major Players sorted in no particular order

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USA Agricultural Machinery Market Analysis

The United States Agricultural Machinery Market size is estimated at USD 39.56 billion in 2024, and is expected to reach USD 53.70 billion by 2029, growing at a CAGR of 6.30% during the forecast period (2024-2029).

  • Agriculture has always been of great importance to the United States, as feeding one of the world's largest populations is challenging.
  • Rising mechanization in the country's agriculture sector and the surge in farmers' income are likely to be a primary factors driving the growth. Further, the extensive pressure to improve agricultural land productivity is expected to foster over the forecast period, which will directly promote the tendency of farmers or land operators toward incorporating agricultural machinery in farming.
  • The farmers in the country have been able to avail themselves of timely subsidies on agricultural machinery purchases. This, in turn, has helped even small-scale farmers invest in the country's agricultural machinery. Additionally, technologically advanced agricultural robotics, like autonomous tractors, plowing and cultivating machinery, planting machinery, sprayer irrigation machinery, and haying and forage machinery to help United States farmers produce food at low costs to fulfill the growing demand for food, are anticipated to be better prospects for market growth during the coming year. However, high initial procurement costs and high maintenance expenditures will be a barrier to the market.
  • Furthermore, several players in the country are taking initiatives to boost the market's growth. For instance, in March 2021, John Deere developed the first factory-installed, integrated tractor and planter solution, ExactRate, in the United States.
  • Therefore, an increase in demand for large-capacity farm machinery due to a shortage in farm labor, favorable government subsidies for farm mechanization, and technological innovation to develop innovative agricultural machinery are the factors driving the market growth over the forecast period.

USA Agricultural Machinery Industry Segmentation

Agricultural machinery is tools or machinery used for various purposes of agricultural operations such as planting, harvesting, fertilization, seeding, etc. Tractors, combine harvesters, planting machinery, ploughs, tillers, and weeders are some of the farm machinery. The United States Agricultural Machinery Market is segmented by Tractors, Ploughing and Cultivating Machinery (Ploughs, Harrows, Cultivators & Tillers, and Others), Planting Machinery (Seed Drills, Planters, Spreaders, and Others), Harvesting Machinery (Combine Harvesters, Forage Harvesters, and Other Harvesters), Haying and Forage Machinery (Mowers, Balers, and Other), Irrigation Machinery (Sprinkler Irrigation, Drip Irrigation, and Others), and Other Agricultural Machinery. The report offers the market size and forecasts for sales in (units) and value in (USD million) for all the above segments.

Plowing and Cultivating Machinery
Ploughs
Harrows
Cultivators & Tillers
Others
Planting Machinery
Seed Drills
Planters
Spreaders
Others
Harvesting Machiney
Combine Harvesters
Forage Harvesters
Other Harvesters
Haying and Forage Machinery
Mowers
Balers
Others
Irrigation Machinery
Sprinkler Irrigation
Drip Irrigation
Others
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United States Agricultural Machinery Market Size Summary

The United States Agricultural Machinery Market is poised for significant growth, driven by the increasing mechanization of agriculture and rising farmer incomes. The demand for advanced agricultural machinery, such as autonomous tractors and irrigation systems, is expected to rise as farmers seek to enhance productivity and meet the growing food demand. Government subsidies have played a crucial role in enabling even small-scale farmers to invest in these technologies. However, challenges such as high initial costs and maintenance expenses may hinder market expansion. The market is characterized by a shift towards larger, specialized farms, which are more profitable and require less manual labor, further fueling the adoption of agricultural machinery.

The market landscape is dominated by major players like Deere & Company, Kubota Corporation, and AGCO Corporation, who are actively engaging in mergers, acquisitions, and partnerships to enhance their product offerings and technological capabilities. Innovations in automation and autonomy, such as those introduced by CNH Industrial and AGCO, are set to address key challenges in agricultural productivity. Additionally, the growing interest in organic gardening and environmental horticulture is boosting the demand for tillers and cultivators, as more homeowners and municipalities invest in gardening projects. This trend, coupled with the reintroduction of mechanical cultivation methods, is expected to drive the market for agricultural machinery in the United States over the forecast period.

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United States Agricultural Machinery Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Market Overview

    2. 1.2 Market Drivers

    3. 1.3 Market Restraints

    4. 1.4 Porter's Five Forces Analysis

      1. 1.4.1 Bargaining Power of Suppliers

      2. 1.4.2 Bargaining Power of Buyers

      3. 1.4.3 Threat of New Entrants

      4. 1.4.4 Threat of Substitutes

      5. 1.4.5 Intensity of Competitive Rivalry

  2. 2. MARKET SEGMENTATION

    1. 2.1 Tractors

    2. 2.2 Plowing and Cultivating Machinery

      1. 2.2.1 Ploughs

      2. 2.2.2 Harrows

      3. 2.2.3 Cultivators & Tillers

      4. 2.2.4 Others

    3. 2.3 Planting Machinery

      1. 2.3.1 Seed Drills

      2. 2.3.2 Planters

      3. 2.3.3 Spreaders

      4. 2.3.4 Others

    4. 2.4 Harvesting Machiney

      1. 2.4.1 Combine Harvesters

      2. 2.4.2 Forage Harvesters

      3. 2.4.3 Other Harvesters

    5. 2.5 Haying and Forage Machinery

      1. 2.5.1 Mowers

      2. 2.5.2 Balers

      3. 2.5.3 Others

    6. 2.6 Irrigation Machinery

      1. 2.6.1 Sprinkler Irrigation

      2. 2.6.2 Drip Irrigation

      3. 2.6.3 Others

    7. 2.7 Other Agricultural Machinery

United States Agricultural Machinery Market Size FAQs

The United States Agricultural Machinery Market size is expected to reach USD 39.56 billion in 2024 and grow at a CAGR of 6.30% to reach USD 53.70 billion by 2029.

In 2024, the United States Agricultural Machinery Market size is expected to reach USD 39.56 billion.

US Agriculture Equipment Market Size - Industry Report on Share, Growth Trends & Forecasts Analysis (2024 - 2029)