U.S. Agricultural Tractor Market Size & Outlook, 2023-2030
U.S. agricultural tractor market, 2018-2030 (US$M)
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U.S. agricultural tractor market highlights
- The U.S. agricultural tractor market generated a revenue of USD 13,134.2 million in 2023 and is expected to reach USD 24,360.1 million by 2030.
- The U.S. market is expected to grow at a CAGR of 9.2% 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.
Agricultural tractor market data book summary
| Market revenue in 2023 | USD 13,134.2 million |
| Market revenue in 2030 | USD 24,360.1 million |
| Growth rate | 9.2% (CAGR from 2023 to 2030) |
| Largest segment | Less than 40 hp |
| Fastest growing segment | Less than 40 Hp |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 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, U.S. accounted for 12.5% of the global agricultural tractor market in 2023.
- Country-wise, India is expected to lead the global market in terms of revenue in 2030.
- In North America, U.S. agricultural tractor market is projected to lead the regional market in terms of revenue in 2030.
- U.S. is the fastest growing regional market in North America and is projected to reach USD 24,360.1 million by 2030.
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Agricultural Tractor Market Scope
Agricultural Tractor Market Companies
| Name | Profile | # Employees | HQ | Website |
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U.S. 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 40.19% in 2023. Horizon Databook has segmented the U.S. 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.
Agricultural tractors are considered vital in the nation's agricultural machinery sector, contributing significantly to enhancing farm efficiency and productivity. The diverse and expansive agricultural landscape in the U.S. generates high demand for tractors for various farming operations.
Recent trends indicate a shift toward technologically advanced tractors with precision farming capabilities and eco-friendly features, driven by an increasing emphasis on sustainable agricultural practices.
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Our clientele includes a mix of agricultural tractor market companies, investment firms, advisory firms & academic institutions.
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30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
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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 country-level data and insights on the U.S. agricultural tractor market , including forecasts for subscribers. This country databook contains high-level insights into U.S. agricultural tractor market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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U.S. agricultural tractor market size, by engine power, 2018-2030 (US$M)
U.S. Agricultural Tractor Market Outlook Share, 2023 & 2030 (US$M)
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