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The North America Agricultural Machinery Market is segmented by type into the tractor, equipment, sprayers, harvesting machinery, and haying & forage machinery, and by geography into the United States, Canada, Mexico, and Rest of North America.
The North America Agricultural Machinery Market is projected to grow at a CAGR of 7.9% during the forecast period (2020-2025). Increased farm consolidation, positive economic outlook, large production base, and greater government support through subsidies are driving sales of high capacity agricultural machinery and equipment. Agricultural Machinery manufacturers are at the forefront of change and evolution of the agriculture sector giving rise to the modern-day integrated farm management approach. In most of the markets in North America, farmers are increasingly adopting advanced technology such as precision farming systems and GPS-controlled agricultural machinery form the backbone of such systems. Increased adoption of precision farming is one of the key factors which could influence the growth of the market over the forecast period.
The report defines the market in terms of end-users, who procure machinery for applications in agricultural production only. The end-users include farmers and institutional buyers operating in the agriculture and allied production. The future analysis and segmentation, by type of machinery, have also been discussed in each of the sub-segments.
|Rest of North America|
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Farming in North America is being currently revolutionized by the rapid technological development in tractors. Farm costs are inevitable with the increasing demand for food crops, thus, making tractors as an inevitable part of efficient farming. The wave of modern technology has already been witnessed in tractors with the application of Artificial Intelligence-based tools for data transmission, for precise decision-making processes in cultivation. For instance, AGCO Fendt Guide Connect leader-follower technology connects two machines including tractors through GIS, thus enabling the farmers to gain apt information. Also, the US-based agricultural machinery giant, John Deere, began enhancing the AI-based innovation process in tractors by acquiring the Artificial Intelligence start-up Blue River Technology in 2017. Such innovations are expected to induce the demand for technologically developed tractors, in the long run, thus also boosting the demand for tractor tires.
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The United States market is driven by the sale of low engine-power tractors with tractors of power less than 40 HP contributing a major share of the market. It is estimated that on a technologically advanced farm, one farmer can produce enough cereals which can feed almost a thousand people. However, in the twentieth century, that was limited to 25 people (now the ratio stands at 1:130). The technological advancements direct toward the use of tractors in the agricultural fields.. Agriculture is a major occupation in the United States, where the mechanization of farming is considered an important reason for increased productivity, sales, and export. Also, the shorter replacement cycles of 9 years in advanced economies like the United States increase the demand for new tractors and hence drives the market in North America. Major manufacturing operations are located in Mexico. For instance, John Deere manufactures tractors in the 105-140 hp range in Saltillo and CNH Industrial’s New Holland division manufactures tractors in the 90-115 hp range in Queretaro. John Deere, New Holland, Valtra, and Pauny are the top tractor manufacturers in Mexico.
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The North American agricultural machinery and equipment industry are highly consolidated with renowned players like Deere and Company, AGCO Corp., CNH Industrial N.V, Iseki & Co. Ltd., Kuhn Group, Kverneland Group and Escorts Group operating in the market place. The companies here strive to strengthen their base by offering enhanced product features, competitive pricing, enhanced quality, increased scale of operation and technological innovation. In December 2018, Deere and Company launched the four-wheel-drive 3028EN Tractor, which offers advanced technology and features suited for orchard and paddy farming.
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.3 Market Restraints
4.4 Porter's Five Force Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products
4.4.5 Competitive Rivalry
5. MARKET SEGMENTATION
22.214.171.124 Less than 40 HP
126.96.36.199 40 to 100 HP
188.8.131.52 Above 100 HP
184.108.40.206 4 WD Farm Tractors
220.127.116.11 Cultivators and Tillers
18.104.22.168 Other Equipment
5.1.3 Irrigation Machinery
22.214.171.124 Sprinkler Irrigation
126.96.36.199 Drip Irrigation
5.1.4 Harvesting Machinery
188.8.131.52 Combine Harvesters
184.108.40.206 Forage Harvesters
220.127.116.11 Other Harvesting Machinery
5.1.5 Haying and Forage Machinery
5.2.1 United States
5.2.4 Rest of North America
6. COMPETITIVE LANDSCAPE
6.1 Most Adopted Strategies
6.2 Market Share Analysis
6.3 Company Profiles
6.3.1 AGCO Corporation
6.3.2 CLAAS Group
6.3.3 CNH Industrial NV
6.3.4 Deere & Company
6.3.5 Kubota Corporation
6.3.6 Kverneland Group
6.3.7 Morris Industries Ltd
6.3.8 Netafim Irrigation Inc.
6.3.9 Same Deutz-Fahr Deutschland GmbH
6.3.10 Vaderstad Industries Inc.
7. MARKET OPPORTUNITIES AND FUTURE TRENDS