Dublin, Aug. 15, 2024 (GLOBE NEWSWIRE) — The “United States Agricultural Machinery Market Forecast Report by Machinery Type, Irrigation Machinery, Tractors by Engine Power, Ploughing and Cultivation Machinery, Harvesting Machinery, Haying and Forage Machinery and Company Analysis 2024-2032” report has been added to ResearchAndMarkets.com’s offering.
United States Agricultural Machinery Market will reach US$ 64.18 Billion by 2032, up from US$ 38.05 Billion in 2023, with a CAGR of 5.98% between 2024 and 2032
The primary factors expediting the growth of the global agricultural machinery market are the increasing awareness among farmers about the advantages of employing agriculture equipment and the rising demand for high-quality food throughout the United States.
United States Agricultural Machinery Outlooks
The term agricultural machinery describes tools used in farming operations that are specifically made to manage large-scale agricultural operations and boost production and efficiency. These devices are necessary for several phases of crop production, including planting, harvesting, and post-harvest processing.
Today’s agriculture relies heavily on a wide range of equipment, some examples of which are combine harvesters, plows, seeders, and tractors. In the United States agricultural machinery market, the advent of precision agriculture has underscored the significance of sophisticated machinery that integrates technology such as GPS and sensors to optimize crop management and resource efficiency. By lowering the impact on the environment, this not only increases productivity but also encourages sustainable farming methods.
The development of agricultural equipment shows a persistent dedication to innovation in order to satisfy the demands of a population that is constantly growing. The landscape of contemporary agriculture is being redefined by the increasing adoption of technology by farmers and the incorporation of intelligent machinery, which promises a more robust and fruitful future for the sector.
Driving Forces for Agricultural machinery market in United States
Rise in average farm size
American agriculture and rural life underwent a massive transformation in the 20th century. Early 20th-century agriculture was labor-intensive, taking place on numerous small, diversified farms. By the twenty-first century, a smaller number of sizable, specialized farms accounted for the majority of agricultural production.
The number of farms in the United States has been decreasing due to increased productivity in agriculture and nonfarm employment opportunities. The average farm size has been increasing, reaching 445 acres in 2021. This consolidation is driven by profitability, as larger farm sizes lead to higher profitability. However, as labor costs rise, farm owners are turning to agricultural machinery to manage larger farms, which is fueling market growth.
Technological Advancement
The United States’ agricultural methods have undergone a radical transformation due to technological innovations including sensors, automated machinery, GPS guidance systems, and data analytics. These developments have improved farming production, efficiency, and input utilization. Improvements in machinery design have also led to improvements in power, durability, and efficiency, enabling larger-scale activities with fewer laborers. Planting, spraying, and harvesting integrated systems have enhanced farm management and streamlined workflows, spurring innovation and market expansion in the agricultural machinery industry.
For instance, With the acquisition of Blue River Technology, an AI start-up, the US-based agricultural machinery major John Deere started to improve the AI-based innovation process in tractors. Long term, these kinds of advancements should fuel demand for tractors with cutting-edge technology.
Government Support
Government support is a major factor in driving the expansion of the US market for agricultural machinery. Policies, incentives, and subsidies from the federal and state governments are intended to promote agriculture’s modernization, efficiency, and sustainability. These policies sometimes entail giving farmers financial assistance or tax breaks in exchange for making capital expenditures in new equipment, embracing cutting-edge technologies, and putting into practice productivity-boosting and environmentally friendly techniques.
Additionally, government-funded R&D initiatives support agricultural machinery innovation and the development of more effective and productive technology. Government agency rules and guidelines have an effect on the market as well by influencing consumer demand for equipment that satisfies particular safety and environmental requirements.
Texas Agricultural Machinery Market
Texas’s vast and varied agricultural business depends heavily on the state’s agricultural machinery market. Texas is one of the most productive states in the union for agriculture, producing an extensive range of goods, including grains, cotton, livestock, fruits, and vegetables. Large-scale Texas farms that produce a wide variety of crops are in great demand for different kinds of agricultural technology.
The markets for tractors, combines, irrigation systems, sprayers, and livestock management equipment are important segments of the Texas agricultural machinery industry. In an effort to increase output and efficiency, Texas farmers are progressively implementing technology innovations like GPS-guided machinery and precision farming techniques. Adoption of modern agricultural equipment is also driven by factors like weather variability and the need for sustainable farming practices. Government support in the form of subsidies and incentives also encourages investment in new machinery, contributing to the growth and rejuvenation of the agricultural sector in Texas.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 160 |
| Forecast Period | 2023 – 2032 |
| Estimated Market Value (USD) in 2023 | $38.05 Billion |
| Forecasted Market Value (USD) by 2032 | $64.18 Billion |
| Compound Annual Growth Rate | 5.9% |
| Regions Covered | United States |
Key Players Analysis: Business Overview, Recent Developments, Revenue Analysis
- John Deere’s
- CNH Industrial
- AGCO Corporation.
- KUBOTA Corporation.
- Titan Machinery Inc.
- CLASS
- Lindsay Corporation
- Alamo Group Inc.
Machinery Type – Market breakup in 7 viewpoints:
- Irrigation Machinery
- Tractors
- Ploughing and Cultivation Machinery
- Harvesting Machinery
- Haying and Forage Machinery
- Planting Machinery
- Sprayer
Irrigation Machinery – Market breakup in 3 viewpoints:
- Gravity Irrigation
- Miro-Irrigation
- Sprinkler
Tractors by Engine Power- Market breakup in 3 viewpoints:
- Less than 40 HP
- 41 to 100 HP
- More than 100 HP
Ploughing and Cultivation Machinery – Market breakup in 4 viewpoints:
- Cultivators and Tillers
- Harrows
- Ploughs
- Others
Harvesting Machinery – Market breakup in 3 viewpoints:
- Combine Harvesters
- Harvesting Robots
- Self-Propelled Forage Harvesters
Haying and Forage Machinery – Market breakup in 4 viewpoints:
- Mowers
- Balers
- Tedders and Rakes
- Forage Harvesters
For more information about this report visit https://www.researchandmarkets.com/r/coe4ld
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world’s leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
