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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

Product Code:KR916

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Published On

November 2019

Total pages

109

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 Tractor and Combine Harvesters 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 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

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

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 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

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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