US Tractor Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

The report covers Agricultural Tractor Companies in USA and the market is segmented by Horse Power (Below 40 HP, 40-100 HP, and Above 100 HP), and Tractor Type (Utility Tractors, Row Crop Tractors, Garden & Orchard Type Tractors, and Other Tractor Types).

United States Agricultural Tractors Market Size

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United States Agricultural Tractor Machinery Market Summary
Study Period 2019 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
Historical Data Period 2019 - 2022
CAGR 3.80 %
Market Concentration High

Major Players

United States Agricultural Tractor Machinery Market Major Players

*Disclaimer: Major Players sorted in no particular order

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United States Agricultural Tractors Market Analysis

The United States agricultural tractor machinery market is set to grow at a CAGR of 3.8% during the forecast period.

  • Agriculture is a major occupation in the United States, where 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 drive the market.
  • In addition, the farmers in the country have been able to avail themselves of timely subsidies on the purchases of agricultural tractors. This, in turn, has helped even small-scale farmers to invest in agricultural equipment, like tractors, in the country.
  • According to data from the Quarterly Census of Employment and Wages (QCEW), wage and salary employment in agriculture (measured as the annual average number of full- and part-time jobs)-including support industries such as farm labor contracting-stabilized in the 2000s and has been on a gradual upward trend since 2010, rising from 1.07 million in 2010 to 1.16 million in 2020, a gain of 9 percent. Thus, the growing wages of farm labor are further propelling the farmers toward adopting agricultural equipment, like tractors, and boosting the market's growth.
  • Some of the players in the country are involved in research and development and the launch of advanced tractors in the market. For instance, in 2021, players concentrated on producing fully electric and driver-optional tractors in the country. These tractors are being funded through the United States Department of Agriculture's (USDA) Conservation Innovation Grant program to automate specific blueberry field maintenance tasks, reducing the use of diesel fuels and enhancing farming productivity.

United States Agricultural Tractors Market Trends

This section covers the major market trends shaping the US Agricultural Tractor Market according to our research experts:

Increasing Cost of Farm Labor Driving Mechanization

  • In recent years, farmers, growers, and ranchers throughout the United States have expressed concerns about hiring an adequate number of qualified farmworkers at an economically viable wage. These challenges are particularly acute for labor-intensive sectors of U.S. agriculture.
  • A prominent indicator of a tighter farm labor market in the United States is farmworkers' rising real (inflation-adjusted) wages. According to data from the Fair Labor Standards, real (inflation-adjusted) wages for nonsupervisory crop and livestock workers (excluding contract labor) rose at an average annual rate of 1.1 percent per year between 1990 and 2020. 
  • In the past five years, however, real farm wages grew at 2.9 percent per year, consistent with growers' reports that workers were harder than usual to find in the country. This increase in the real wage for farm labor is the fastest experienced over four years during the past two decades.
  • Farmers are increasingly adopting agricultural mechanization as a substitute for manual labor with a more cost-effective, easily available, and more efficient means of agricultural operation. Tractors, the primary power source for driving agricultural machinery, have, thus, seen a phenomenal rise in sales in these countries during the study period. Due to decreasing agricultural labor, the prices of farm labor are rising. Hence, the demand for agricultural tractors in the country is expected to increase during the forecast period.
United States Agricultural Tractor Machinery Market : Average Hourly Wage of Agricultural Labor of Major States, in USD, 2021

Row Crop Tractors Dominate the Market

  • With the increasing unavailability of farm laborers and the growing mechanization of agriculture, the demand for row-crop tractors boosts the sales of the united states agricultural tractor machinery market. The increasing demand for power, precision, handling, and efficiency has shaped the development of the modern planter tractor, and it continues to drive the development of these tractors.
  • The row-crop tractor is specifically tailored to grow crops that meet all agricultural demands, such as plowing, harrowing, leveling, pulling seed drills, weed control, and running various machines, like water pumps and belt pulley threshers. They have a high ground clearance to save crop damage. Hence, the market is anticipated to grow due to the above pros coupled with the increased acreage of crops in the country.
  • Due to the continuous demand and rising sales growth, in 2020, Deere & Company launched a new 8 Family Tractor line-up that includes 8R wheel tractors, 8RT two-track tractors, and the industry's first fixed-frame four-track tractors. These new tractors come standard equipped with the latest precision agriculture technology and allow customers to choose the machine configuration, options, and horsepower to best fit their operation, particularly for the row crops like soybean, corn, wheat, millet, and many others.
United States Agricultural Tractor Machinery Market: Corn Area Harvested, in Thousand Hectares, 2020-2021

United States Agricultural Tractors Industry Overview

The agricultural tractors market in the United States is highly consolidated, with very few players cornering most of the market share. New product launches, partnerships, and acquisitions are the major strategies adopted by the leading companies in the market in the country. Along with innovations and expansions, investments in R&D and developing novel product portfolios are likely to be crucial strategies in the coming years. For instance, in November 2022, John Deere is widening its lineup of specialty tractors designed for work in narrow orchards and vineyards with the addition of the new 5EN and 5ML Series. This series is reliable, nimble, and easy to use, and follows Precision Ag Technology to help the growers to monitor, manage and maximize their farm or business.

United States Agricultural Tractors Market Leaders

  1. CLAAS KGaA mbH

  2. Deere & Company

  3. CNH Industrial N.V.

  4. Kubota Corporation

  5. AGCO Corporation

*Disclaimer: Major Players sorted in no particular order

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United States Agricultural Tractors Market News

  • April 2022: Kubota North America Corporation (KNA) expanded the new 280-acre, Research and Development Center in the state of Georgia, United States, to meet the needs of tractors for North American customers. Kubota has invested more than USD 85 million to bring the new facility online, and it will open with 70 engineering and technical employees.
  • January 2022: John Deere has expanded a fully autonomous tractor ready for large-scale production. The machine combines Deere's 8R tractor, TruSet-enabled chisel plow, GPS guidance system, and new advanced technologies. The autonomous tractor will be available to farmers in the coming years.
  • August 2021: The United States-based manufacturer Solectrac announced the launch of its new 70 HP, 60 kWh electric tractor. Specially designed for heavy-duty farm and vineyard operations. The machine can run for up to eight hours on a single charge with a 60-kWh battery.

United States Agricultural Tractors Market Report - Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions & Market Definition

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Overview

    2. 4.2 Market Drivers

    3. 4.3 Market Restraints

    4. 4.4 Porter's Five Forces Analysis

      1. 4.4.1 Threat of New Entrants

      2. 4.4.2 Bargaining Power of Buyers/Consumers

      3. 4.4.3 Bargaining Power of Suppliers

      4. 4.4.4 Threat of Substitute Products

      5. 4.4.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 Horse Power

      1. 5.1.1 Below 40 HP

      2. 5.1.2 40-100 HP

      3. 5.1.3 Above 100 HP

    2. 5.2 Tractor Type

      1. 5.2.1 Utility Tractors

      2. 5.2.2 Row Crop Tractors

      3. 5.2.3 Graden & Orchard Type Tractors

      4. 5.2.4 Other Tractor Types

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Most Adopted Strategies

    2. 6.2 Market Share Analysis

    3. 6.3 Company Profiles

      1. 6.3.1 AGCO Corporation

      2. 6.3.2 CNH Industrial N.V.

      3. 6.3.3 Deere & Company

      4. 6.3.4 KUBOTA Corporation

      5. 6.3.5 Mahindra and Mahindra Ltd.

      6. 6.3.6 The Case Corporation

      7. 6.3.7 Deutz-Fahr

      8. 6.3.8 CLAAS KGaA mbH

      9. 6.3.9 Daedong-USA, Inc.

      10. 6.3.10 Belarus Tractor

      11. 6.3.11 Massey Ferguson Limited

      12. 6.3.12 Caterpillar Inc.

      13. 6.3.13 SAME Deutz Fahr

      14. 6.3.14 Escorts Group

  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

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United States Agricultural Tractors Industry Segmentation

A tractor is a farm vehicle used to pull farm machinery and provide the energy needed for the machinery to work. For this report, tractors used in agricultural operations, especially four-wheeled tractors, have been considered. The report does not cover other agricultural machinery and attachments for tractors. Tractors used for industrial and construction purposes are also excluded from the study.

The United States agricultural tractor machinery market is segmented by horsepower into below 40 HP, 40-100 HP, and above 100 HP, and tractor type into utility tractors, row crop tractors, garden & orchard type tractors, and other tractor types.

The report offers the market size and forecasts for volume in (units) and value in (USD million) for all the above segments.

Horse Power
Below 40 HP
40-100 HP
Above 100 HP
Tractor Type
Utility Tractors
Row Crop Tractors
Graden & Orchard Type Tractors
Other Tractor Types
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United States Agricultural Tractors Market Research FAQs

The United States Agricultural Tractor Market is projected to register a CAGR of 3.80% during the forecast period (2024-2029)

CLAAS KGaA mbH, Deere & Company, CNH Industrial N.V., Kubota Corporation and AGCO Corporation are the major companies operating in the United States Agricultural Tractor Market.

The report covers the United States Agricultural Tractor Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the United States Agricultural Tractor Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.

United States Agricultural Tractors Industry Report

Statistics for the 2024 United States Agricultural Tractors market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. United States Agricultural Tractors analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.

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US Tractor Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)