Press release
Agricultural Machinery Market in the US to grow at a CAGR of 5.17% during the period 2017-2021
Agricultural machinery is used to optimize and add precision to agriculture practices at a large scale. The agricultural machinery market in the US comprises machinery and equipment used for performing agriculture practices. The global agricultural machinery market is expected to grow significantly during the forecasted period. The major reason for this growth is the dependence on agricultural land and farm output. The global agricultural production is expected to increase along with the demand. However, the production has slowed down in different phases in recent years due to a huge fluctuation in the price of raw materials used for manufacturing agricultural machinery. Furthermore, the decline in prices of commodities has hampered the growth of the market.
Technavios analysts forecast the agricultural machinery market in the US to grow at a CAGR of 5.17% during the period 2017-2021.
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Covered in this report
The report covers the present scenario and the growth prospects of the agricultural machinery market in the US for 2017-2021. To calculate the market size, the report considers the new sales value and spares market.
Technavio's report, Agricultural Machinery Market in the US 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
Key vendors
Deere & Company
CNH Industrial
AGCO
Kubota
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Other prominent vendors
CLAAS
Daedong-USA
Krone
KUHN Group
Lely
Mahindra & Mahindra
Vermeer
Market driver
High labor cost and workforce scarcity
For a full, detailed list, view our report
Market challenge
Fluctuating raw material prices
For a full, detailed list, view our report
Market trend
Rise in technological innovation
For a full, detailed list, view our report
Key questions answered in this report
What will the market size be in 2021 and what will the growth rate be?
What are the key market trends?
What is driving this market?
What are the challenges to market growth?
Who are the key vendors in this market space?
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