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US Tractor and Combine Harvesters Market Outlook to 2024

By Tractor Type (2WD and 4WD), By Tractor HP (<40 HP, 40-100 HP and >100 HP) and By Combine Harvester HP (Upto 250 HP, 250-350 HP and Above 350 HP)

Region:North America

Author(s):

Product Code:KR916

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Published on

November 2019

Total pages

109

Table of Content

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About the Report

About the Report

The report titled "US Tractor and Combine Harvesters Market Outlook to 2024 – By Tractor Type (2WD and 4WD), By Tractor HP (100 HP) and By Combine Harvester HP (Upto 250 HP, 250-350 HP and Above 350 HP)" provides a comprehensive analysis on US tractors and combine harvesters market. The report covers various aspects including market overview, value chain analysis, market evolution, market size of tractors and combine harvesters by sales value and volume, market segmentation by type and its sub segments by horse power, trade scenario, regulatory framework impacting the US market, snapshot on secondhand agriculture equipment market, equipment financing market, rental market and after sale services market, customer profiling in US agriculture equipment market and competition landscape. The report concludes with market projections for future described above and analyst recommendations highlighting the major opportunities and cautions for US tractor and combine harvester market.




US Agriculture Equipment Market Overview

US agriculture equipment market was observed to be at maturity stage owing to the advances in mechanization and technological developments in agriculture that have been particularly influential in driving change in the farm sector coupled with rapid growth in average farm productivity. Also, increasing presence of both international as well as domestic players coupled with new government initiatives has created a positive impact on the market. Agriculture within the US is characterized by various trends. One of the trends is the fall in the number of small farms. Another trend in the US Agriculture Sector is increase in productivity of the sector. Both agricultural production as well as the output of an agricultural worker has improved. This improvement is partially a result of consolidation of farms and partially a result of new technologies and farming methods.
 
US Tractor Market Size
Tractors are multipurpose equipment with ability to handle multiple implements such as harrows, ploughs, sprayers and others. The US tractor market both in terms of sales value and volume has increased at a positive CAGR during the review period 2014-2019. The market experienced a decline in terms of sales volume during 2015 and recovered gradually over the years. Factors such as technological advancements and increased consumer demand have increased the demand for mechanized farming thereby have enhanced the sales of tractors in the country.
 
US Tractor Market Segmentation
By Tractor Type (2WD and 4WD)
Two wheeled tractors were observed to dominate the US tractor market during 2018. Tractors in the range 5-200 HP usually come in the category of two-wheeled drive tractors. 2-Wheel Drive tractor is generally used in dry farming conditions as well as for the purpose of field farming transportation. The remaining market share was captured by four wheeled tractors.
 
By Horse Power
The tractors with horse powers below 40 are the compact tractors that serve basic farming tasks such as mowing and manure handling. The segment was observed to clearly establish itself as market leader within US tractor market during 2018. The remaining market share was collectively captured by tractors falling in the HP range of 40-100 and above 100 HP in the year 2018.
 
US Combine Harvester Market Size
US combine harvesters market both in terms of sales value and volume has been experiencing a negative CAGR during the review period 2014-2018. Low commodity prices, weakening farm income and elevated used equipment levels in the US were observed to pressurize high demand for farm equipment, especially high HP models of combine harvesters. As this equipment is expensive in nature, farmers within US remained apprehensive of making such big purchases, and instead approached secondhand market or delayed purchases.
 
US Combine Harvesters Market Segmentation
By Horse Power (up to 250 HP, 250-350 HP and more than 350 HP)
Combine harvesters of up to 250 HP dominated the country’s combine harvesters market during the year 2018, followed by 250-350 HP and more than 350 HP ranges. Earlier, farmers had to harvest crops by carrying out a series of laborious operations one after the other. Emergence of harvesting machinery has effectively reduced their time and efforts thus, meeting the growing demands of urban dwellers and help towards breaking up soil efficiently.
 
Comparative Landscape in US Tractor and Combine Harvester Market
Both the US tractor as well as combine harvester market was observed to be heavily concentrated along with the presence of both domestic and international players in the market such as John Deere, New Holland, AGCO, Mahindra, Kubota and others. In addition to that, it has become extremely difficult to enter and expand within the market as existing players such as market leader – John Deere and other players have clearly established their brand identity and new players may not be able to find adequate means of distribution since the market is broad. Some of the parameters on the basis of which companies compete within this segment include price, after sale services, access of distribution & dealership channels and level of digitalization in their machineries and equipments.
 
US Tractor and Combine Harvester Market Future Outlook and Projections
Over the forecast period, it is estimated that US tractor market in terms of sales volume will increase at a positive CAGR during the period 2019-2024. The market is forecasted to grow owing to technological innovations such as driverless tractors, ease of financial support and growing consumer demand. On the other hand the US combine harvester market is anticipated to recover during the forecast period as farmers are expected to further shift towards large size farming. Although agricultural land has been shrinking in the US, the demand for large farms has been increasing. Additionally, the constant increase in consumption demand is pushing farmers to produce more at a time, which would require more farmland. With larger farms, the use of combine harvesters will be on the rise because harvesting hay on a large farm is not manually possible.
 
Key Segments Covered

By Tractor Type

    • Two-Wheel Drive (2WD)
    • Four-Wheel Drive (4 WD)

 
By Tractor HP (For Two-Wheel Drive Tractors)

    •  40 HP
    • 40-100 HP
    • Above 100 HP

 
By Combine Harvesters HP

    • Up to 250 HP
    • 250-350 HP
    • Above 350 HP

Key Target Audience
  • Existing Agricultural Equipment Companies
  • New Market Entrants- Domestic OEMs
  • New Market Entrants- Foreign OEMs
  • Agricultural Equipment Financing Companies
  • Government Bodies
  • Investors & Venture Capital Firms
  • Agricultural Equipment Manufacturers
  • Agricultural Equipment Distributors
  • Agricultural Equipment Associations
 
Time Period Captured in the Report:
  • Historical Period: 2014 -2018
  • Forecast Period: 2019-2024
 
Companies Covered:
  • John Deere
  • New Holland
  • AGCO
  • Mahindra
  • Kubota
  • CaseIH
  • Claas
  • Gleaner
  • Massey Ferguson
  • Other Players (Kioti, Yanmar, Zetor, Ventrac, Farmtrac, Deutz Fahr, Challenger, International Harvester, MacDon and Colombo)

Key Topics Covered in the Report
  • Executive Summary
  • Research Methodology      
  • US Agriculture Equipment Market Value Chain Analysis
  • US Agricultural Equipment Market Overview  
  • US Agriculture Equipment Market Ecosystem  
  • US Tractor Market  
  • US Combine Harvester Market    
  • Regulatory Framework in US Agricultural Equipment Market
  • Customer Profiling in US Agriculture Equipment Market
  • US Agriculture Equipment Second hand Market
  • Comparative Landscape in US Agriculture Equipment Market

Products

Products

Key Segments Covered

By Tractor Type

    • Two-Wheel Drive (2WD)
    • Four-Wheel Drive (4 WD)

 By Tractor HP (For Two-Wheel Drive Tractors)

    •  40 HP
    • 40-100 HP
    • Above 100 HP

 By Combine Harvesters HP

    • Up to 250 HP
    • 250-350 HP
    • Above 350 HP


Companies

Companies Covered:
  • John Deere
  • New Holland
  • AGCO
  • Mahindra
  • Kubota
  • CaseIH
  • Claas
  • Gleaner
  • Massey Ferguson
  • Other Players (Kioti, Yanmar, Zetor, Ventrac, Farmtrac, Deutz Fahr, Challenger, International Harvester, MacDon and Colombo)

Table of Contents

Table of Contents

1. Executive Summary

2. Research Methodology
2.1. Market Definitions
2.2. Abbreviations
2.3. Market Sizing and Modeling
2.4. Market Sizing- Agricultural Equipment
2.5. Variables (Dependent and Independent)
2.6. Correlation Matrix
2.7. Regression Matrix
2.8. Limitations & Final Conclusions
2.9Limitations
2.10Final Conclusion

3. US Tractor & Harvester Market Overview, 1900-2018
3.1. Evolution of US Agricultural Equipment Market
Supply Side Evolution
Demand side evolution
3.2. Overview of Agricultural Pattern in US, 2018
3.3. US Farming Overview
3.3.1. Contribution of Agriculture in US GDP
3.3.2. Land Under Cultivation And Distribution Of Major Crops
3.3.3. Change in Cropping Pattern
3.3.4. Farm Holding Structure/ Nature Of Ownership

4. US Tractor & Combine Harvester Market Ecosystem, 2018
5. US Tractors & Combine Harvesters Market Value Chain Analysis, 2018
5.1Value Chain Flow chart for importing brands, 2018
5.2Value chain flow chart for market with domestic oem’s, 2018
5.3Role & Overview Of Various Entities, 2018

6. US Tractors Market, 2014-2024E
6.1. US Tractor Market Size, 2014-2018
6.2. Best Selling Tractor Model, 2018
6.3. US Tractor Market Segmentation (By Wheel Type & HP), 2014-2018
2 Wheel Drive Tractors further Market Segmentation By HP (6.4. US Tractor Market Trade Scenario (Import and Export Value), 2014-2018
6.5. Us Tractor Market Future Outlook And Projections, 2019-2024

7. US Combine Harvesters Market, 2014-2024
7.1. US Combine Harvesters Market Size, 2014-2018
7.2. US Combine Harvester Market Segmentation By HP (Up to 250 HP, 250-350 HP & Above 350 HP), 2018
7.3. US Combine Harvesters Market, Trade Scenario, 2014-2018
7.4. US Combine Harvester Market Future Outlook and Projections, 2019-2024E

8. Regulatory Framework in US Tractor & Harvester Market

9. Customer Profiling in US Tractor & Combine Harvesters Market, 2018
9.1Decision Making Parameter For Tractors, 2018
9.2Decision Making Parameters For Combine Harvesters, 2018
9.3Pain Points Of Farmers, 2018

10. Market Related Snapshots, 2014-2024
10.1. Snapshot of Agriculture Equipment Second Hand Market, 2014-2024
10.2. US Agriculture Equipment Financing Market, 2014-2024
10.3. US Agriculture Equipment Rental Market, 2014-2024
10.4. US Agriculture Equipment After Market Services, 2014-2024

11. Comparative Landscape in US Tractors & Combine Harvesters Market, 2018
11.1. Competition Scenario in US Tractors & Combine Harvesters Market, 2018
11.2. Market Share of Major Players Operating in US Tractors Market (By Sales Volume), 2014-2018
11.3. Market Share of Major Players Operating in US Combine Harvesters Market (By Sales Volume), 2014-2018
11.4. Strengths and Weaknesses Of Major Players, 2018
11.5. Company Profiling Of Major Players Operating in US Tractor & Harvester Market
11.5.1. John Deere
11.5.2. CNH Industrial
11.5.3. AGCO
11.5.4. Kubota
11.5.5. Claas
11.5.6. Mahindra
11.5.7. Other Players (Kioti, Yanmar, Zetor, Ventrac, Farmtrac, Deutz Fahr, Challenger, International Harvester, MacDon and Colombo), 2018

12. Analyst Recommendations in the US Tractor and Combine Harvesters Market

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List of Figure

Figure 3-1: US Agricultural Gross Value Added in USD Billion and Growth Rate in Percentage (%), 2013-2018
Figure 3-2: Total Land Area Harvested in the United States in Hectares and Growth Rate in Percentage (%), 2013-2017
Figure 3-3: Total Crop Production Quantity in the US in Tonnes and Growth Rate in Percentage (%), 2013-2017
Figure 3-4: Total Crop Yield Quantity in the US in Hectograms/Hectare and Growth Rate in Percentage (%), 2013-2017
Figure 5-1: US Tractors and Combine Harvesters Market Value Chain Flowchart for International OEMs Including Entities Involved, Margins Charged, Procurement & Flow of Product, 2018
Figure 5-2: US Tractors and Combine Harvesters Market Value Chain Flow Chart for Domestic OEMs Including Entities Involved, Margins Charged, Procurement and Flow of Product, 2018
Figure 6-1: US Tractor Market Size on the Basis of Sales Volume in Units and Growth Rate in Percentage (%), 2014-2018
Figure 6-2: US Tractor Market Size on the Basis of Sales Value in USD Billion and Growth Rate in Percentage (%), 2014-2018
Figure 6-3: US Tractor Market Segmentation by Type on the Basis of Sales Volume in Percentage (%), 2014-2018
Figure 6-4: US 2WD Tractor Market Further Segmentation by HP on the Basis of Sales Volume in Percentage (%), 2014-2018
Figure 6-5: US Tractor Export Value in USD Billion and Growth Rate in Percentage (%), 2014-2016
Figure 6-6: US Tractor Import Value in USD Billion and Growth Rate in Percentage (%), 2014-2016
Figure 7-1: US Combine Harvesters Market Size on the Basis of Sales Volume in Units and Growth Rate in Percentage (%), 2014-2018
Figure 7-2: US Combine Harvesters Market Size on the Basis of Sales Value in USD Billion and Growth Rate in Percentage (%), 2014-2018
Figure 7-3: Change in Average Price of US Combine Harvesters in USD and Growth Rate in Percentage (%), 2014-2018
Figure 7-4: US Combine Harvester Market Segmentation by Horsepower on the Basis of Sales Volume in Percentage (%), 2018
Figure 7-5: US Combine Harvesters Export in USD Billion and Growth Rate in Percentage (%), 2014-2018
Figure 7-6: US Combine Harvesters Import in USD Billion and Growth Rate in Percentage (%), 2014-2018
Figure 7-7: US Combine Harvester Market Size Future on the Basis of Sales Volume in Units and Growth Rate (%), 2019E-2024E
Figure 7-8: US Combine Harvester Market Size Future on the Basis of Sales Value (In USD Billion) and Growth Rate in Percentage (%), 2019E-2024E
Table 8-1: US Tractor & Combine Harvesters Market Government Policies/Regulations, 2018
Figure 11-1: Financial Performance of Kubota on the Basis of Net Sales in USD Billion and Growth Rate in Percentage (%), 2013-2018
Figure 11-2: Financial Performance of Claas on the Basis of Net Sales in USD Billion and Growth Rate in Percentage (%), 2013-2018


List of Table

Table 2-1: US Combine Harvesters Market Correlation Matrix, 2013-2018
Table 2-2: US Combine Harvesters Market Regression Matrix, 2013-2018
Table 3-1: Supply Side Evolution of the US Tractors & Combine Harvesters Market Including Entry and Expansion of Manufacturers (John Deere, CNH Industrial, AGCO, Kubota, Claas and Mahindra), 1838-2013
Table 3-2: Land Area Harvested under Five Major Crops in United States in Hectares, 2013-2017
Table 3-3: Crop Production Quantity for Top Five Crops in the United States in Tones, 2013-2017
Table 3-4: Crop Yield Quantity for Top Five Crops in the US in Hectograms/Hectare, 2013-2017
Table 4-1: US Tractors & Combine Harvesters Market Ecosystem Including Entities (Domestic OEMs & International OEMS Importing Equipments, Distributors, Government Organizations and End Users), Number, Major Players and Nature of Space
Table 5-1: US Tractors & Combine Harvesters Market Value Chain Analysis Including Role of Major Entities & Problems Faced, 2018
Table 5-2: US Tractors & Combine Harvesters Market Role Play Analysis Including Raw Material Suppliers, Research & Development (R&D), Agriculture Equipment Manufacturer and Others: 2018
Table 6-1: Rationale and Description for Market Size Analysis of US Tractors Market on the Basis of Sales Volume and Sales Value Including Market Growth Drivers and Market Challenges, 2014-2018
Table 6-2: US Tractor Market Best Selling Tractor (Series) for Major Players (Mahindra, Kubota, John Deere, New Holland, Massey Ferguson, Case IH, Kioti, Deutz Fahr) in USA for Home/Hobby Farming and Agro/Commercial Farming, 2018
Table 6-3: Rationale & Description for US Tractor Market Segmentation by Type (2 Wheel Drive and 4 Wheel Drive Tractors) on the Basis of Sales Volume, 2014-2018
Table 6-4: US Tractor Market Segmentation by Type of Tractors (2WD & 4WD) on the Basis of Sales Volume in Units, 2014-2018
Table 6-5: US 2WD Tractor Market Further Segmentation by HP ( < 40 HP, 40-100 HP and Above 100 HP) on the Basis of Sales Volume in Units, 2014-2018
Table 6-6: US 2WD Tractor Market Further Segmentation by HP on the Basis of Sales Volume in Units, 2014-2018
Table 6-7: Rationale and Description for Export and Import of US Tractors on the Basis of Sales Value in USD Billion and Growth Rate (%), 2014-2018
Table 6-8: Rationale & Description for US Tractor Future Market Size on the Basis of Sales Volume in Units, 2019-2024E
Table 7-1: Rationale & Description for Market Size Analysis of US Combine Harvesters Market on the Basis of Sales Volume in Units and Sales Value in USD Billion Including Market Growth Drivers and Market Challenges, 2014-2018
Table 7-2: Rationale & Description for US Combine Harvester Market Segmentation by Horse Power on the Basis of Sales Volume in Units, 2018
Table 7-3: US Combine Harvesters Market Segmentation by HP on the Basis of Sales Volume in Units, 2018
Table 7-4: Export and Import of US Combine Harvesters on the Basis of Sales Value in USD Billion and Growth Rate in Percentage(%), 2014-2018
Table 7-5: Rationale & Description for US Combine Harvesters Future Market Size on the Basis of Sales Volume and Sales Value, 2019E-2024E
Table 9-1: US Tractor Market Decision Making Parameters for Buying Tractors Including Cost, Land Holding Size, Price & Discounts, Types of Crops Grown and Terrain, After Market Services and Availability of Financing Options, 2018
Table 9-2: US Combine Harvesters Market Decision Making Parameters of Farmers for Buying Combine Harvesters Including Cost, Land Holding Size, After Market Services, Fuel Efficiency, Brand Name & Marketing and Availability of Equipment Financing, 2018
Table 9-3: US Tractors & Combine Harvesters Market Pain Points of Customers Including High Technical Front, Lack of Maintenance Shop Availability, Technological Understanding and High Price, 2018
Table 10-1: US Second Hand Agriculture Equipment Market Snapshot Including Structure of Second Hand Market, Average Equipment Lifespan and Replacement Cycle, Major Brands Sold, Customer Profile, Pricing, Major Challenges, Products and Services Offered and Retail Network, 2014-24
Table 10-2: US Agriculture Equipment Financing Market Snapshot Including General Overview, Services Offered, Major Players, Major Brands Rented, Customer Profile, Prices, Major Challenges and Future Prospects, 2014-2024
Table 10-3: US Agriculture Equipment Rental Market Snapshot Including General Overview, Services & Products Offered, Major Players, Major Brands Rented, Prices, Major Challenge and Future Prospects, 2014-2024
Table 10-4: US Agriculture Equipment Aftermarket Services Snapshot Including General Overview, Products and Services Offered , Major Players, Retail Network, Warranty Services, Major Challenges and Future Prospects, 2014-2024
Table 11-1: US Tractors & Combine Harvesters Market Competitive Scenario Including Market Competition Analysis, Major Barriers to Entry, Products & Services Offered and Major Competing Parameters, 2018
Table 11-2: Market share of Major Players in US Tractor Market on the Basis of Sales Volume in Percentage (%), 2014-2018
Table 11-3: US Tractors Market Share of Major Players by Sales Volume in Units, 2014-18
Table 11-4: US Combine Harvesters Market Share of Major Players by Sales Volume in Percentage (%), 2014-2018
Table 11-5: US Combine Harvesters Market Share of Major Players by Sales Volume in Units, 2014-2018
Table 11-6: US Tractors & Combine Harvesters Market Strengths & Weakness of Major Players Including John Deere, CNH Industrial, AGCO, Kubota, Claas and Mahindra, 2018
Table 11-7: Company Profile of John Deere Including Company Overview, Key Operations, Business Strategies, Company Management, After Sales Services Offered, Financing Services, Recent Developments, Company Financials and Sales Volume, 2018
Table 11-8: John Deere Product Portfolio, 2018
Table 11-9: Company Profile of CNH Industrial Including Company Overview, Revenue Streams, Business Strategies, After Sales Services Offered, Distribution and Retail Network, Manufacturing Locations, USA, Company Management, Company Financials and Sales Volume, 2018
Table 11-10: Product Portfolio of CNH Industrial, 2018
Table 11-11: Company Profile of AGCO Including Company Overview, Company Management, Revenue Streams, Business Strategies, After Sales Services Offered, Financing Options, Distribution and Retail Network, Recent Developments, Company Financials and Sales Volume, 2018
Table 11-12: AGCO Product Portfolio, 2018
Table 11-13: Company Profile of Kubota Including Company Overview, Revenue Stream, Business Strategies, Company Management, After Sales Services Offered, Distribution and Retail Network, Recent Developments, Company Financials and Sales Volume, 2018
Table 11-14: Product Portfolio of Kubota Including Machine Type, Series and Description
Table 11-15: Company Profile of Claas Including Company Overview, Revenue Streams, Business Strategies, Company Management, After Sales Services Offered, Financing, Distribution and Retail Network, Recent Developments, Company Financials and Sales Volume, 2018
Table 11-16: Product Portfolio of Claas Including Machine Type, Series and Description
Table 11-17: Company Profile of Mahindra Including Company Overview, Revenue Stream, Strengths / USP, Company Management, After Sales Services Offered, Financing, Recent Developments and Sales Volume, 2018
Table 11-18: Product Portfolio of Mahindra USA Including Machine Type, Series and Description
Table 11-19: Other Players Operating in the US Tractor and Combine Harvester Market Including Kioti, Yanmar, Zetor, Ventrac, Farmtrac, Deutz Fahr, Challenger, International Harvester, MacDon, Colombo, 2018
Table 12-1: Recommendations for the US Tractor and Combine Harvester Market, 2018

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