North America Agricultural Tractor Market Size & Outlook
North America agricultural tractor market, 2018-2030 (US$M)
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North America agricultural tractor market highlights
- The North America agricultural tractor market generated a revenue of USD 14,468.9 million in 2023.
- The market is expected to grow at a CAGR of 9.1% from 2024 to 2030.
- In terms of segment, less than 40 hp was the largest revenue generating engine power in 2023.
- Less than 40 Hp is the most lucrative engine power segment registering the fastest growth during the forecast period.
- Country-wise, U.S. is expected to register the highest CAGR from 2024 to 2030.
North America data book summary
| Market revenue in 2023 | USD 14,468.9 million |
| Market revenue in 2030 | USD 26,559.3 million |
| Growth rate | 9.1% (CAGR from 2023 to 2030) |
| Largest segment | Less than 40 hp |
| Fastest growing segment | Less than 40 Hp |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Less than 40 Hp, 41 to 100 Hp, More than 100 Hp |
| Key market players worldwide | AGCO Corp, CNH Industrial NV, Deere & Co, CLAAS, Kubota Corp, Mahindra & Mahindra Ltd DR, International Tractors Ltd, Yanmar, Escorts, Tractors and Farm Equipment |
Other key industry trends
- In terms of revenue, North America region accounted for 13.8% of the global agricultural tractor market in 2023.
- Globally, Asia Pacific is projected to lead the regional market in terms of revenue in 2030.
- North America is the fastest growing regional market and is projected to reach USD 26,559.3 million by 2030.
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Agricultural Tractor Market Scope
Agricultural Tractor Market Companies
| Name | Profile | # Employees | HQ | Website |
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North America agricultural tractor market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to agricultural tractor market will help companies and investors design strategic landscapes.
Less than 40 hp was the largest segment with a revenue share of 39.22% in 2023. Horizon Databook has segmented the North America agricultural tractor market based on less than 40 hp, 41 to 100 hp, more than 100 hp covering the revenue growth of each sub-segment from 2018 to 2030.
The agricultural tractors market in North America is experiencing robust growth, marked by a shift toward advanced technologies and precision farming practices. Industry leaders in North America, such as Deere & Company and AGCO Corporation, have played a significant role in shaping the market landscape.
The region's agricultural tractors market has also witnessed a surge in demand for compact and sub-compact tractors, driven by the preferences of small-scale and hobby farmers. The adoption of telematics and connectivity solutions in agricultural tractors is a notable trend in North America.
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Target buyers of North America agricultural tractor market databook
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Our clientele includes a mix of agricultural tractor market companies, investment firms, advisory firms & academic institutions.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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Horizon Databook provides a detailed overview of continent-level data and insights on the North America agricultural tractor market , including forecasts for subscribers. This continent databook contains high-level insights into North America agricultural tractor market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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North America agricultural tractor market size, by country, 2018-2030 (US$M)
North America Agricultural Tractor Market Outlook Share, 2023 & 2030 (US$M)
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