Industry Analysis & Industry Trends
The Tractors and Agricultural Machinery Manufacturing industry has performed well over the five years to 2015, due to the economic recovery and above-average performance of the agricultural sector in the early part of this five-year period. Favorable interest rates, which were set by the federal government to spark investment, gave farmers incentive to finance new equipment. In the coming years, continued demand for crops will generate moderate demand for agricultural machinery. Industry operators are projected to benefit from resurgent demand for tractors and other machinery in South America and Asia... purchase to read more
Industry Report - Industry Locations Chapter
IBISWorld estimates that industry activity is concentrated in the Plains, Southeast and Great Lakes regions. Since about two-thirds of production is destined for the domestic market, agricultural activity is a primary determinant of the industry's geographical concentration.
The Plains region accounts for the majority (31.0%) of industry establishments. This region is the largest producer of field crops in the United States, and it includes Iowa, Kansas and Minnesota. The top four US field crops are corn, soybeans, wheat and hay. Accordingly, the Plains region accounts for about half of total corn production, 46.0% of total soybean production, 37.7% of total wheat production and 23.0% of total hay production... purchase to read more