Industry Analysis & Industry Trends
The Tractors and Agricultural Machinery Manufacturing industry has performed well over the past five years due to the economic recovery and above-average performance of the agricultural sector. Favorable interest rates, which were set by the federal government to spark investment, gave farmers incentive to finance new equipment, boosting revenue for industry operators. Furthermore, the industry has been lifted by increased use of technology in farming and rising agricultural investment in the emerging economies of Asia and South America. In the next five years, continued demand for agricultural products will generate demand for industry products, although resulting growth will be tempered by rising interest rates, which will discourage farmers from making capital investments... 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