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 (