United States (USA) Agriculture Tractor Market Research Report, 2029

The agricultural sector is 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. The growing wages of farm labour 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. 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 labour-intensive sectors of U.S. agriculture. A prominent indicator of a tighter farm labour market in the United States is farmworkers' rising real (inflation-adjusted) wages. Tractors, the primary power source for driving agricultural machinery, have, thus, seen a phenomenal rise in sales in the country during the study period. Due to decreasing agricultural labour, the prices of farm labour are rising. Hence, the demand for agricultural tractors in the country is expected to increase during the forecast period. According to the research report "United States Agriculture Tractor Market Research Report, 2029," published by Actual Market Research, the United States Agriculture Tractor market is expected to grow with more than 4.50% CAGR from 2024 to 2029. The region has been increasing its production capacity to feed the ever-growing population. This increase can be attributed to the fact that the country's farmers have started to adopt farm mechanization practices and are improving their crop production by reducing the yield gap. The USA has witnessed a massive increase in farm mechanization, both in terms of agricultural and industrial productivity, over the past four decades, driven by the technological renaissance. The region has witnessed a massive increase in farm mechanization, both in terms of agricultural and industrial productivity, over the past four decades, driven by the technological renaissance. Agriculture has long been a significant source of income for the country’s economy, and the government has been sustaining and empowering farmers. The government also launched several policies and missions to help farmers by providing them with financial assistance, better infrastructure, competitive crop prices, loan waivers, and subsidies such as USDA assistance and Agricultural loans. Increasing the number of technologically advanced tractors and implements is the solution to save money and time and increase yields. The government is keen on increasing the farm mechanization rate among farmers, boosting the demand and sales of new machines and equipment. The corporations in the country are enabling small and medium-scale farmers to buy agricultural machinery for their farms on credit. Electric tractors are widely used in the industry for various indoor and outdoor applications. The rising trend of automation and increasing environmental concerns will accelerate growth. Farmers in developed countries are looking for these machines to reduce the cost of fuel and replace them with their standard machines.

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Based on the Engine Power, the market is divided into 30 HP, 30 HP - 100 HP, 100 HP - 200 HP, and Above 200 HP. The 30 -100 HP segment led the USA Agriculture Tractor Market. The size and types of farms in the USA differ greatly from one another. From small to medium-sized farms, the 30 HP to 100 HP range is adaptable enough to meet a variety of agricultural applications. These tractors are quite versatile and may be used in a variety of farming activities since they can be used for duties including planting, cultivating, ploughing, and pulling moderate loads. Based on the Drive Type, the market is divided into 2WD; 4WD.The 4-wheel drive (4WD) segment led the market. The USA agriculture tractor market has seen a rise in the significance of the 4WD (Four-Wheel Drive) segment. Traction is greatly increased with 4WD tractors, which supply power to all four wheels, particularly in difficult field conditions. For jobs where keeping traction is critical, like ploughing, planting, and harvesting, this is vital. In addition to ensuring effective operation in a variety of terrains, the enhanced power distribution helps reduce wheel slippage. Based on the Level of Autonomy, the market is divided into Manual Tractor Vehicle, Autonomous Tractor Vehicle. In the agriculture tractor market, tractors without completely automated or electronic controls, or the Manual Tractor Vehicle (MTV) segment, might be becoming more significant. When opposed to automated tractors, manual tractors are typically more straightforward in terms of both design and operation. This simplicity frequently translates into less expensive initial purchases and maybe lower maintenance costs. Manual tractors may be a more cost-effective choice for farmers with smaller farms or tighter budgets. In general, manual tractors feature fewer electronic parts and systems than automated tractors. This may result in less money spent on maintenance and repairs. Due to their simplicity and ease of maintenance, manual tractors may be preferred by farmers who are able to do their own maintenance or who have limited access to specialist technicians.

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Kripa Shah

Senior Analyst

Based on the Application the market is divided into Harvesting, Seed Sowing, Spraying, Others. In the US agricultural tractor market, the harvesting segment is undoubtedly becoming more significant. The persistent labour crisis in the US agriculture sector is attracting more and more interest in automated harvesting options. Harvesting tractors with cutting-edge technology installed, such as automated yield monitoring and GPS guiding, can greatly minimize the amount of manpower needed and increase harvest productivity. High-capacity harvesting machinery is necessary for larger farms, which are growing more prevalent in the US, to effectively manage their enormous area. To meet the demands of these massive operations, harvesting tractors are always developing to provide increased capacity and throughput. Considered in this report: • Geography: United States • Historic year: 2018 • Base year: 2023 • Estimated year: 2024 • Forecast year: 2029 Aspects covered in this report: • United States Agriculture Tractor market with its value and forecast along with its segments • Various drivers and challenges • On-going trends and developments • Top profiled companies • Strategic recommendation

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By Engine Power: • Below 30 HP • 30 HP – 100 HP • 100 HP – 200 HP • Above 200 HP By Drive Type: • 2WD • 4WD By Level of Autonomy: • Manual Tractor Vehicle • Autonomous Tractor Behaviour By Application: • Harvesting • Seed Sowing • Spraying • Others The approach of the report: This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and list out the companies that are present in the market. The secondary research consists of third-party sources such as press releases, and annual reports of companies, analyzing the government-generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducting trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers into regional aspects, tier aspects, age groups, and gender. Once we have primary data with us we started verifying the details obtained from secondary sources. Intended audience: This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to the Agriculture Tractor industry, government bodies, and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.