United States Agricultural Equipment Market to Grow at a Steady Rate until 2025
Increasing need to improve operational efficiency in the farms is expected to drive the growth of United States agricultural equipment market.
According
to TechSci Research report, “United States
Agricultural Equipment Market By Type (Tractors, Harvesters, Planting
Equipment, Irrigation & Crop Processing Equipment, Spraying Equipment, Hay
& Forage Equipment, Others), By Automation (Automatic, Semi-Automatic,
Manual), By Sales Channel (OEMs v/s Aftermarket), By Application (Land
Development & Seed Bed Preparation, Sowing & Planting, Weed
Cultivation, Plant Protection, Harvesting & Threshing, Post-harvest &
Agro Processing, Others), By Region, Forecast & Opportunities, 2025”, the United States agricultural equipment market is
expected to grow at a steady rate during the forecast period on account of the growing
focus of farmers towards food safety & security. Additionally, booming food
& beverage industry is further expected to propel the market growth through
2025. Also, scarcity of workforce further drives the market growth.
Furthermore, benefits such as ease of farming, increased profit margins,
improving crop quality, less labor cost, among others, associated with the use
of agricultural equipment is further expected to spur the market growth over
the next few years. Besides adoption of smart agriculture, precision
agriculture and agriculture 4.0 solutions are further expected to fuel the
market growth during the forecast period. However, growing urban job culture
and shift towards service sector from the agriculture sector might hamper the
market growth over the next few years. Also, fluctuating prices of raw
materials might further impede the market growth during the forecast period.
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The United States agricultural equipment market is segmented based on type,
automation, sales channel, application, company and region. Based on type, the
market can be categorized into tractors, harvesters, planting equipment,
irrigation & crop processing equipment, spraying equipment, hay &
forage equipment and others. Among these, the harvesters segment is expected to
register the highest growth in the market on account of the need to increase
the yield, while reducing the overall labor costs. Additionally, they also provide
fuel efficiency. Based on sales channel, the market can be split into OEMs and
aftermarket. Here, the OEM segment
is expected to dominate the market owing to the growing demand for agricultural
equipment. Based on application, the market can be fragmented into land
development & seed bed preparation, sowing & planting, weed
cultivation, plant protection, harvesting & threshing, post-harvest &
agro processing and others. Here, the weed
cultivation segment is also expected to witness significant growth on account
of the widespread use of agricultural equipment such as shovel, plough, among
others, to reduce the time of weeding.
AGCO Corporation, Deere & Company, Daedong Industrial Co., Ltd,
Alamo Group, Buhler Industries, Autonomous Tractor Corporation, Mahindra
Agriculture North America, CNH Industrial, Kverneland Group, Escorts Group and
others are some of the leading players operating in United States agricultural
equipment market. The companies operating in the market are using organic
strategies such as product launches, mergers and collaborations to boost their
share.
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“United
States agricultural equipment market during the
forecast period, owing to increasing adoption of modern farming technologies.
Additionally, incorporation of GPS, robotic systems, Google Earth, among others,
in the agricultural industry is further expected to fuel the market growth
through 2025. Furthermore, presence of major market players such as John Deere,
AGCO Corporation, among others in the region, is expected to create lucrative
opportunities for market growth over the next few years.” said
Mr. Karan Chechi, Research Director with TechSci Research, a research based global
management consulting firm.
“United States
Agricultural Equipment Market By Type (Tractors, Harvesters, Planting
Equipment, Irrigation & Crop Processing Equipment, Spraying Equipment, Hay
& Forage Equipment, Others), By Automation (Automatic, Semi-Automatic,
Manual), By Sales Channel (OEMs
v/s Aftermarket), By Application (Land Development & Seed Bed Preparation,
Sowing & Planting, Weed Cultivation, Plant Protection, Harvesting &
Threshing, Post-harvest & Agro Processing, Others), By Region, Forecast
& Opportunities, 2025”,” has evaluated the future growth potential of United
States agricultural equipment market and provides statistics & information
on market size, structure and future market growth. The report intends to
provide cutting-edge market intelligence and help decision makers take sound
investment decisions. Besides, the report also identifies and analyzes the
emerging trends along with essential drivers, challenges and opportunities in United
States agricultural equipment market.
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