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Agriculture Equipment .

Published July, 2018
North America Agriculture Equipment Market- Size, Trends, Competitive Analysis and Forecasts (2019-2024)

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North America is the largest and highly developed agriculture industry in the world. The need for automation and machinery application across the agriculture industry has been rising rapidly, with an increasing need to boost the crop production volume to the cater to the ever-increasing world population. In leading countries of North America, agriculture equipment and machinery are given utmost importance to increase the output of farming as well as enhance the farming techniques, such as integrated farming. North America represents around 30% of the total agriculture equipment market in the world, the market revenue of which recorded at $33.4 billion in 2018. The U.S. is leading agriculture equipment market in the region, followed by Canada and Mexico. Continuous innovation and close ties of companies with the leading research institute in the U.S. and Canada puts both of these countries at the forefront in the North America agriculture equipment market.

Various factors drive the agriculture equipment market in North America. Some of these major drivers include growing demand for food, shrinking area of agriculture to urbanization and industrialization and thus the need to boost the crop productivity, and increased efforts form the Government of leading countries in the region to boost the agri-exports. These drivers forecast the market revenue of agriculture equipment in the region, to grow at a CAGR of 5.3% from 2019 to 2024, in order to attain the market size of $45.9 billion by 2024. Technological innovations and precision farming are among the leading opportunity area of the agriculture equipment industry. Hence, leading players are expected to invest a good sum on R&D to develop innovative products that meet the market trend and requirements of the farmers.

However, some factors will hinder the growth of agriculture equipment market in the region. Some of the major restraints include low purchasing power of farmers residing in the rural regions, long time required for the adoption of regulation and protocols for the latest equipment to come into the operation and availability of skilled labor required for the operation of agriculture equipment. However, Governments in the developed countries are closely working with the farmers, equipment manufacturers and other stakeholders involved in the industry to overcome these restraints, as the gap between the supply and demand of crop is expanding rapidly. Escorts Group, AGCO Corporation, Deere and Company, and Kuhn group are leading agriculture equipment producers in North America. Due to the high maturity of the market, the competition in the industry is intense. In coming years, with an increasing number of startups introducing highly innovative and affordable equipment of agriculture, the competition is further expected to intensify.

Key Deliverables

  • Market trends since 2014 and five-year forecasts of market growth 
  • Detailed analysis of the micro and macro elements influencing demand trends
  • Identifying opportunity spaces across segments and countries  
  • Supply & demand side trend and analysis
  • Price trend analysis, investment prospects and competition pattern
  • Insights on the growth potential of the market
  • Detailed analysis of major producers covering financial investments & strategies adopted
  • Competitive landscape of the industry

 

1. Introduction                                                                                     

          1.1 Research Methodology                                                                     

          1.2 Scope of the Study                                                                          

          1.3 Assumptions                                                                         

2. Summary                                                                               

          2.1 Market Summary By Type                                                                          

          2.2 Market Summary by Geography                                                                            

3. Industry Dynamics                                                                            

          3.1 Drivers                                                                       

                   3.1.1 Growing access to subsidies and credits for Farm Machinery in Asia       

                   3.1.2 Push for agriculture mechanization from policy makers                        

                   3.1.3 Focus to increase cropping intensity                                                 

                   3.1.4 Dwindling agriculture labourers due to Urbanization                              

          3.2 Restraints                                                                   

                   3.2.1 Diminishing area under agriculture                                           

                   3.2.2 Increased number of fragmented landholding in Asia                                     

                   3.2.2 Consolidating farmland under contract farming & co-operatives              

          3.3 Opportunities                                                                        

                   3.3.1 Growing emphasis on Precision farming                                   

                   3.3.2 Hill Agriculture                                                           

                   3.3.3 Gender friendly tools and Equipment                                                 

                   3.3.4 Crop Specific Package of machines                                         

          3.4 Porter’s Five Forces Analysis                                                                       

                   3.4.1 Bargaining power of Suppliers                                                         

                   3.4.2 Bargaining power of Buyers                                                            

                   3.4.3 Degree of Competition                                                         

                   3.4.4 Threat of Substitution                                                          

                   3.4.5 Threat of new entrants                                                                  

          3.5 Future Trends in the Industry                                                                      

          3.6 Value Chain Analysis                                                                        

          3.7 Industry Policies & Regulations                                                                    

          3.8 Market Innovations                                                                         

4. Market Size and Forecast                                                                             

          4.1 Tractors                                                                     

                   4.1.1 Utility Tractors                                                          

                   4.1.1.2.2 Row crop tractors                                                          

                   4.1.1.2.3 Garden & Orchard type Tractor                                                  

                   4.1.1.2.4 Orchard Tractor                                                             

                   4.1.1.2.4 Rotary Tillers                                                                 

                   4.1.1.2.4 Others                                                                

          4.2 Plowing and Cultivating Machinery                                                                

                   4.2.1 Ploughs                                                          

                   4.2.2 Harrows                                                         

                   4.2.3 Cultivators & Tillers                                                              

                   4.2.4 Others                                                           

          4.3 Planting Machinery                                                                           

                   4.3.1 Seed Drill                                                                 

                   4.3.2 Planters                                                          

                   4.3.3 Broadcast Seeders                                                               

                   4.3.4 Transplanters                                                            

          4.4 Fertilizing Machinery                                                                         

                   4.4.1 Dry Fertilizer Spreaders                                                                  

                   4.4.2 Drop Spreaders                                                         

                   4.4.3 Rotary Spreaders                                                                

                   4.4.4 Others                                                           

          4.5 Harvesters                                                                            

                   4.5.1 Crop & Grain Harvester                                                                  

                   4.5.2 Rootcrop Harvester                                                             

                   4.5.3 Fruits and Vegetable Harvester                                                                 

                   4.5.4 Threshers                                                                 

                   4.5.5 Others                                                           

          4.6 Haying and Forage Machinery                                                                      

                   4.6.1 Mowers                                                          

                   4.6.2 Conditioners                                                             

                   4.6.3 Tedders/inverters                                                                

                   4.6.4 Hay rakes                                                                

                   4.6.5 Balers                                                            

          4.7 Combines                                                                             

                   4.7.1 Corn Crop                                                                

                   4.7.2 Rice Crop                                                                 

                   4.7.3 Soybean Crop                                                           

                   4.7.4 Wheat Crop                                                              

                   4.7.5 Other Crops                                                             

          4.8 Sprayers                                                                     

                   4.8.1 Low Pressure Sprayers                                                         

                             4.8.1.1 Tractor Mounted Sprayers                                                  

                             4.8.1.2 High Clearance Sprayers                                                    

                             4.8.1.3 Trailer Mounted Sprayer                                                     

                             4.8.1.4 Truck Mounted Sprayer                                                     

                   4.8.2 High Pressure Sprayers                                                                  

                             4.8.2.1 Air Carrier Sprayers                                                 

                             4.8.2.2 Hand Operated Sprayers                                                    

                             4.8.2.3 Fogger                                                        

          4.9 Irrigation Machineries                                                                       

                   4.9.1 Sprinkler Irrigation                                                               

                   4.9.2 Drip Irrigation                                                           

          4.10 Parts and Attachments                                                                    

          4.11 Other Agricultural Equipment                                                                      

5. Country Market Share                                                                                  

          5.1 North America                                                                       

                   5.1.1 U.S.                                                              

                   5.1.2 Canada                                                          

                   5.1.3 Mexico                                                           

                   5.1.4 Others                                                           

6. Competitive Analysis                                                                                   

          6.1 Market Share Analysis                                                                      

          6.2 Growth Strategies of leading players                                                   

          6.3 Investment and Development Prospects                                                                 

                   6.3.1 Investment in past five years                                                          

                   6.3.2 Investment Opportunities                                                               

          6.4 Competition Pattern                                                                         

                   6.4.1 Concentration Ratio                                                             

                   6.4.2 Industry Competition                                                           

          6.5 Price Trend Analysis                                                                         

                   6.5.1 Product Classifications and Their Prices                                              

                   6.5.2 Factors Influencing Prices                                                               

7. Company Profiles                                                                              

          7.1 AGCO Corp.                                                                          

          7.2 Agrifac Machinery                                                                  

          7.3 Alamo Group Incorporated                                                                         

          7.4 AMAZONEN-Werke H. Dreyer GmbH & Company KG                                       

          7.5 ARGO SpA                                                                            

          7.6 Bucher Industries AG                                                                        

          7.7 Changzhou Dongfeng Agricultural Machinery Group                                         

          7.8 China National Machinery Industry Corporation                                                         

          7.9 Claas KGaA mbH                                                                   

          7.10 CNH Industrial N.V                                                                         

          7.11 Daedong Industrial Company Limited                                                          

          7.12 Deere and Company                                                                      

          7.13 Escorts Limited                                                                    

          7.14 Exel Industries SA                                                                          

          7.15 Foton Lovol International Heavy Industries Company Ltd.                              

          7.16 Iseki & Co. Ltd.                                                                   

          7.17 JCB Limited                                                                         

          7.18 Kubota Corporation                                                                       

          7.19 Kuhn Group                                                                        

          7.20 Kukje Machinery Company Limited                                                             

          7.21 Kverneland Group                                                                          

          7.22 Mahindra & Mahindra Ltd.                                                                         

          7.23 Netafim Limited                                                                   

          7.24 Same Deutz-Fahr Deutschland Gmbh                                                           

          7.25 Shandong Shifeng Group Company Limited                                                   

          7.26 Tetra Laval International SA                                                                      

          7.27 Tractors and Farm Equipment Ltd.                                                              

          7.28 Valmont Industries Incorporated                                                                

          7.29 WORLD Group Company Limited                                                      

          7.30 Yamabiko Corporation                                                                    

          7.31 Yanmar Company Limited                                                                         

          7.32 ZETOR TRACTORS                                                                         

Appendix                                                                                   

          Sources                                                                           

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