DUBLIN , Sept. 16, 2022 --  The "U.S. Tractors Market - Industry Analysis & Forecast 2022-2028" report has been added to ResearchAndMarkets.com's offering.

In 2021, the less than 50 HP segment accounted for the largest share due to its compact size and flexible operational capabilities.

North America accounts for almost 11% of the global agriculture tractor market in terms of volume. In North America , the United States represents a high level of farm mechanization. The U.S. is a global leader in agriculture exports. Despite its high population density, the country has more than half of its area under agricultural land, covering more than 900 million acres.

The region has been increasing its production capacity to feed the ever-growing population. This increase can be attributed to the fact that the country's farmers have started to adopt farm mechanization practices and are improving their crop production by reducing the yield gap. The region has witnessed a massive increase in farm mechanization, both in terms of agricultural and industrial productivity, over the past four decades, driven by the technological renaissance.

The government is also creating strategies to enhance the welfare of farmers by converting agriculture into a viable activity by paving the way for new machinery purchases. The awareness about advanced agriculture equipment to improve per hectare yield, reduce the overall cost of crop production, and increase the income-centric inclination of farmers is boosting the sale of new machinery in the country.

1. What is the growth rate of the U.S. tractors market?

2. What are the expected units sold in the U.S. tractors market by 2028?

3. Who are the key players in the U.S. tractors market?

4. Which wheel drive holds the highest market shares in the U.S. region?

5. Which companies dominate the U.S. tractors market share?

The research report includes a detailed segmentation by HP type, wheel drive, and countries.

In 2021, the less than 50 HP segment recorded high growth in the United States .

The younger generation of farmers has realized the difference in the engine's power output and the power transmitted through the PTO shaft. Farmers also know that tractors in the same HP range can provide varying HP in the PTO shaft. Such facts make potential buyers look for other options and make informed purchase decisions.

The overall market in the US is registering growth because of increased retail sales of less than 50hp. Tractors in the power range of less than 50 HP are likely to be the most significant contributors to the industry's growth in the country. Some of the factors favoring the sale of less than 50 HP range are as follows:

Insights By Wheel Drive: Mid-range HP 2WD dominates the US agriculture market.

Among the several models available in the country, 2WD tractors are the most favored by farmers. Ease of driving and flexibility during light loads and plain fields are significant factors boosting the demand for two-wheel-drive machines. Most retail brands, including John Deere, and Massey Ferguson , are the top preferred choices among farmers in the 2WD segment in the United States .

Insights By Region-Wise: The Midwest region shows a higher demand.

The US agriculture landscape can be divided into four regions (Northeast, Midwest, South, and West). The tractor market in the country is currently in the growth stage, and manufacturers are seeking capacity augmentation. The country's Northeast region still has little farm mechanization, and vendors can explore these regions with a portfolio of small tractors suitable for the region's rolling hills and low mountains.

Midwest and South regions reportedly show a higher demand for agriculture tractors than the country's other regions. A strong market is expected to come from the South region during the projected period.

a) John Deere and Massey Ferguson dominated the US market with a collective market share of over 44%. The threat of rivalry is high in the US agriculture tractor market since more than 50% of the share belongs to the top three key players.

b) Massey Ferguson launched MF 6S series tractors, which provided up to 180 HP with advanced technology.

c) AGCO and AgRevolution showcased new solutions from Fendt, Massey Ferguson , and Hesston by Massey Ferguson at the National Farm Machinery in Louisville, Kentucky .

d) CNH Industrial partnered with Monarch Tractors, a US-based Agri-technology company, to improve long-term sustainability and raise awareness among farmers of the importance of zero-emission agriculture.

e) Massey Ferguson launched the MF 8S series. This series is distinguished by a guard-u install engine and a neo-retro design. These are designed to advance smart farming technologies.

For more information about this report visit https://www.researchandmarkets.com/r/534dgs

Research and Markets Laura Wood , Senior Manager [email protected]

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