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Tractors & Agricultural Machinery Manufacturing in the US: Market Research Report

Market Research • Market Size • Industry Statistics • Industry Analysis • Industry Trends

Tractors & Agricultural Machinery Manufacturing Market Research Report | NAICS 33311 | Feb 2016

Reap what you sow: Steady demand for crops will cultivate moderate industry growth

IBISWorld’s Tractors & Agricultural Machinery Manufacturing market research report provides the latest industry statistics and industry trends, allowing you to identify the products and customers driving revenue growth and profitability. The industry report identifies the leading companies and offers strategic industry analysis of the key factors influencing the market.

Report Snapshot
Market Share of Companies
Industry Statistics & Market Size
Revenue
$34bn
Annual Growth 11-16
-3.4%
Annual Growth 16-21
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Profit
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Employment
74,834
Businesses
1,186
Industry Analysis & Industry Trends

The Tractors and Agricultural Machinery Manufacturing industry has struggled over the past five years. Despite above-average performance of the agricultural sector in the early part of the period, the industry has been in decline since 2014. Lower demand for agricultural equipment and currency headwinds have contributed to lower revenue and margins for farmers, who as a result, have reduced purchases in 2013 and 2014. During the five years to 2021, demand for crops will continue to generate low to moderate demand for agricultural machinery. Industry operators are projected to benefit from growing demand for tractors and other machinery in South America and Asia because of their growing agricultural economy and population.


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Industry Report - Industry Products Chapter

While tractor and agricultural machinery manufacturers generally do not see much revenue from customer service and support activities, they remain an integral part of the industry's business model. The crucial nature of the products this industry creates and supplies dictates end users be adept and confident when using them. For example, if a farmer fails to properly connect a new tractor model to an older piece of machinery, harvest efficiency could affect that farmer's bottom line. Consequently, the major players in this industry make a point of mentioning their customer service and support options, many of which are accessible online, over the phone and in print means... purchase to read more

 


Industry ProductsRelated ReportsTable of Contents

What is the Tractors & Agricultural Machinery Manufacturing Industry?

Industry operators manufacture agricultural machinery and equipment and powered home lawn and garden equipment. Key agricultural equipment includes tractors, harvesting and seeding machinery and other hardware such as grinders, mixers, wool presses and windmills.

Industry Products
Harvesting machineryAll other tractors and agricultural machinery and attachmentsParts sold separatelyHaying machinery and attachmentsPlanting, seeding and fertilizing machinery and attachmentsDairy farm equipment, sprayers, dusters, blowers and attachments
 
Industry Activities
Manufacturing farm tractors and attachments Manufacturing harvesting equipment and machinery Manufacturing irrigation equipment Manufacturing seeders Manufacturing sprayers and spreaders Manufacturing windmillsManufacturing powered agricultural mowersManufacturing livestock feeding and watering equipment


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