US Tractor and Combine Harvester Market is Expected to Reach around 318,000 and 4,500 registrations respectively by 2024: Ken Research

Increasing Availability of Credit: High availability of credit will allow farmers to purchase equipment for their farm activities which will enhance the growth of US tractor and combine harvester market. If farmers have easier financing options, then they will also be encouraged to invest in new machinery rather than go for a second hand option. Analysts at Ken Research in their latest publication “US Tractor and Combine Harvesters Market Outlook to 2024 – By Tractor Type (2WD and 4WD), By Tractor HP (100 HP) and By Combine Harvester HP (Upto 250 HP, 250-350 HP and Above 350 HP) https://www.kenresearch.com/agriculture-and-animal-care/agriculture-equipment/us-tractor-and-combine-harvesters-market-outlook/278585-104.html ” believe that focusing towards incorporating new and advanced technologies within the equipment, sale of high efficiency combine harvesters, manufacturing fuel efficient equipment, providing after sales as well as financial services and focusing towards an extensive distribution network are factors which are collectively going to help the market register a positive CAGR of 5.1% in terms of sales volume of tractors within US during the forecasted period 2019–2024.

It is expected that by the year ending 2024, tractors will register a positive CAGR of approximately 5.1% during the forecast period 2019-2024 whereas on the other hand, combine harvester market is likely to experience limited growth in the near future.
Ease of financing and availability of credit will be a major growth driver for the US tractor and combine harvester market. In addition to that, increased integration of advanced technologies in farm-based equipment is leading to a rise in demand for modern farm equipment.

Major market positioning strategies adopted by players in the market include having extensive distribution network, quick & reliable after sales services, easy availability of spare parts, marketing expenditure and having extensive product portfolio.
Emergence of Autonomous Tractors: Machinery such as autonomous tractors will enhance demand for modern equipment in US. The market has been experiencing various technological introductions such as driverless tractors which are considered to be more efficient and productive. For instance, John Deere in 2019 introduced an autonomous tractor that used on-board cameras and GPS coordinates to perform functions such as spraying fertilizers and pesticides. There has been a constant increase in consumption demand over the past few years and is expected to be on an upward trend in the near future. This increase will lead to farmers employing more tractors to increase crop production over long term.

Growth within US tractor and combine harvester market size in future shall be assisted by growth in population, higher demand for agricultural produce and rise in adoption of large scale farming which is driving the need for tractors with high horse power engines. Farmers in the US want to increase the acreage of their farms in order to produce more output in a given cycle. Farm activities such as harvesting require machines on large farms since it becomes impossible to do so manually. An increase in the size of farms will increase demand for combine harvesters in the near future. Some of the most produced crops within US region include maize, soybean, wheat, seed cotton and sorghum.

Key Segments Covered
By Tractor Type

Two-Wheel Drive (2WD)
Four-Wheel Drive (4 WD)

By Tractor HP
40 HP
40-100 HP
Above 100 HP

By Combine Harvesters HP
Up to 250 HP
250-350 HP
Above 350 HP

Key Target Audience
Existing Agricultural Equipment Companies
New Market Entrants- Domestic OEMs
New Market Entrants- Foreign OEMs
Agricultural Equipment Financing Companies
Government Bodies
Investors & Venture Capital Firms
Agricultural Equipment Manufacturers
Agricultural Equipment Distributors
Agricultural Equipment Associations

Time Period Captured in the Report:
Historical Period: 2014 -2018
Forecast Period: 2019-2024

Companies Covered:
John Deere
New Holland
AGCO
Mahindra
Kubota
CaseIH
Claas
Gleaner
Massey Ferguson
Other Players (Kioti, Yanmar, Zetor, Ventrac, Farmtrac, Deutz Fahr, Challenger, International Harvester, MacDon and Colombo)

Key Topics Covered in the Report
Executive Summary
Research Methodology
US Agriculture Equipment Market Value Chain Analysis
US Agricultural Equipment Market Overview
US Agriculture Equipment Market Ecosystem
US Tractor Market
US Combine Harvester Market
Regulatory Framework in US Agricultural Equipment Market
Customer Profiling in US Agriculture Equipment Market
US Agriculture Equipment Second hand Market
Comparative Landscape in US Agriculture Equipment Market

For more information on the research report, refer to below link:
https://www.kenresearch.com/agriculture-and-animal-care/agriculture-equipment/us-tractor-and-combine-harvesters-market-outlook/278585-104.html

Related Reports:
https://www.kenresearch.com/agriculture-and-animal-care/agriculture-equipment/europe-agriculture-equipments-market/214918-104.html

https://www.kenresearch.com/agriculture-and-animal-care/agriculture-equipment/brazil-agricultural-equipment-market/142609-104.html

https://www.kenresearch.com/agriculture-and-animal-care/agriculture-equipment/south-africa-agricultural-equipment-market/142610-104.html

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Ken Research
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Ankur@kenresearch.com
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