US Agriculture Equipment Market Trends, Growth, Revenue, Share, Key Players, Demand, Challenges and Future Opportunities by 2033: SPER Market Research
Agricultural Equipment Market includes tools and machines like harvesters, tractors, plows, etc. that are used by farmers in the field to carry out various agricultural activities. Since agricultural equipment’s are one of the main product categories in the organized agriculture market of the United States, the government wants to increase the mechanization rate among the farmers, which will increase the demand and sales for new agricultural equipment. Farmers use this type of equipment on the farm to cultivate high crop yield within a short period of time, with less effort and labour costs, and to achieve more yield than using human labour. In the U.S., the tractor segment held the largest market share of agricultural equipment in 2022. This is an indication of the maturity of the country’s farm machinery.
According to SPER market research, ‘USA Agriculture Equipment Market Size- By Equipment Type, By Application- Regional Outlook, Competitive Strategies and Segment Forecast to 2032’ state that the USA Agriculture Equipment Market is predicted to reach USD XX billion by 2032 with a CAGR of 4.95%.
As the world’s population continues to grow, so does the need for more food supply. As a result, the demand for agricultural equipment is on the rise. Companies are investing heavily in research and development activities to create technologically advanced agricultural equipment and implements to reduce time, improve yields and gain more market share than the competition. In order to increase sustainability in agricultural activities, farmers around the world are adopting precision farming to improve the yield and profitability of their farms. As income and growth opportunities are increasing in the non-agricultural sector, and the percentage of labour employed in agriculture is decreasing, these factors will lead to an increase in the demand for agricultural machinery in the United States.
Since, the United States has a large domestically manufactured tractor base, the prices of farm machinery have remained competitive. This is due to the favourable conditions associated with the investment scenario as well as a strong historical manufacturing basis. Municipalities are increasing their investment in ecological horticulture to establish public gardens and other ornamental horticultural services to restore degraded sites. Consumers’ growing preference for organic produce is leading to an increasing number of consumers creating their own organic vegetable garden in their own backyards. All of these factors contribute to the growing demand for cultivators/tillers such as small petrol powered tillers for domestic use.
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Despite this positive outlook, there are some challenges in the market. Agriculture equipment is costly to buy and installation costs are high, which can discourage small-scale farmers who have limited funds. Modern agricultural equipment forces farmers to use too much fertilizer and mechanical spreaders, which results in the excessive use of chemical fertilizers which damage plants. High-performance machines have high maintenance and repair costs and can have a negative impact on the farmers. If farmers have little money to spend on machinery, they look for low-cost alternatives such as used agricultural equipment instead of buying new equipment. There are also fluctuations in the price of steel, rubber and other key parts used in the production process, which can affect the demand and supply of agricultural equipment within the market.
In the U.S., as a result of COVID, the farm machinery manufacturing industry faced little challenges due to labor migration and raw material availability. Due to restrictions on movement and lockdowns around the world, export and supply were severely impacted. Consignments led to significant business losses for manufacturers and distributors.
USA Farm Equipment Market Key Players:
Additionally, some of the market key players are AGCO Corporation, Alamo Group Inc., Deere & Company, Others.
Our in-depth analysis of the United States Agriculture Equipment Market includes the following segments:
By Equipment Type:
- Agriculture Tractors
- Harvesting Equipment
- Irrigation & Crop Processing Equipment
- Agriculture Spraying & Handling Equipment
- Soil Preparation & Cultivation Equipment
By Application:
- Land Development
- Threshing and Harvesting
- Plant Protection
- After Agro Processing
By Region:
- Northern
- Southeast
- Midwest
- Southwest
- West
This study also encompasses various drivers and restraining factors of this market for the forecast period. Various growth opportunities are also discussed in the report.
For More Information, refer to below link:-
USA Agricultural Machinery Market Forecast
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SPER Market Research
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