Report Update: May 1, 2024

U.S. - Agricultural And Forestry Tractors - Market Analysis, Forecast, Size, Trends And Insights

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Price for Agricultural and Forestry Tractor in the United States - 2023

Price for Agricultural and Forestry Tractor in the United States (CIF) - 2023

In September 2023, the average agricultural and forestry tractor import price amounted to $49,158 per unit, picking up by 21% against the previous month. In general, import price indicated a temperate increase from September 2022 to September 2023: its price increased at an average monthly rate of +4.6% over the last twelve months. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on September 2023 figures, agricultural and forestry tractor import price increased by +35.2% against July 2023 indices. The most prominent rate of growth was recorded in February 2023 when the average import price increased by 25% month-to-month. The import price peaked in September 2023.

Prices varied noticeably by the country of origin: the country with the highest price was Germany ($169K per unit), while the price for Indonesia ($6,686 per unit) was amongst the lowest.

From September 2022 to September 2023, the most notable rate of growth in terms of prices was attained by Japan (+2.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Price for Agricultural and Forestry Tractor in the United States (FOB) - 2023

The average agricultural and forestry tractor export price stood at $68,094 per unit in September 2023, falling by -3.5% against the previous month. Over the period under review, export price indicated notable growth from September 2022 to September 2023: its price increased at an average monthly rate of +4.8% over the last twelve months. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on September 2023 figures, agricultural and forestry tractor export price increased by +40.9% against January 2023 indices. The pace of growth was the most pronounced in January 2023 when the average export price increased by 24% against the previous month. The export price peaked at $70,536 per unit in August 2023, and then shrank slightly in the following month.

Prices varied noticeably by the country of destination: the country with the highest price was South Africa ($240K per unit), while the average price for exports to Guyana ($7,871 per unit) was amongst the lowest.

From September 2022 to September 2023, the most notable rate of growth in terms of prices was recorded for supplies to Australia (+12.0%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Agricultural and Forestry Tractor in the United States

In 2022, approx. 264K units of agricultural and forestry tractors were imported into the United States; picking up by 29% compared with the year before. Overall, total imports indicated a resilient increase from 2019 to 2022: its volume increased at an average annual rate of +18.9% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +76.7% against 2020 indices. The growth pace was the most rapid in 2021 when imports increased by 37%. Imports peaked in 2022 and are likely to see steady growth in the immediate term.

In value terms, agricultural and forestry tractor imports surged to $7B in 2022. Over the period under review, imports continue to indicate a significant expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Import of Agricultural and Forestry Tractor in the United States (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Germany	784	979	1,366	1,871	33.6%
Japan	987	838	1,067	1,433	13.2%
South Korea	447	479	748	967	29.3%
India	195	221	362	743	56.2%
Mexico	91.4	98.7	132	406	64.4%
Turkey	216	155	229	339	16.2%
Italy	103	92.7	136	241	32.8%
Indonesia	72.5	67.8	86.7	106	13.5%
Thailand	N/A	16.8	18.6	35.8	46.0%
Others	571	452	685	891	16.0%
Total	3,468	3,401	4,829	7,033	26.6%

Top Suppliers of Agricultural and Forestry Tractor to the United States in 2022:

Japan (84.5K units)
South Korea (79.4K units)
India (35.7K units)
Indonesia (14.4K units)
Germany (12.8K units)
Turkey (9.1K units)
Mexico (8.1K units)
Italy (4.8K units)
Thailand (4.8K units)

Exports of Agricultural and Forestry Tractor in the United States

In 2022, approx. 69K units of agricultural and forestry tractors were exported from the United States; with an increase of 12% on 2021 figures. Over the period under review, total exports indicated a strong expansion from 2019 to 2022: its volume increased at an average annual rate of +15.1% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +65.4% against 2020 indices. The pace of growth appeared the most rapid in 2021 when exports increased by 48% against the previous year. The exports peaked in 2022 and are likely to see gradual growth in the immediate term.

In value terms, agricultural and forestry tractor exports soared to $2.9B in 2022. In general, total exports indicated a prominent increase from 2019 to 2022: its value increased at an average annual rate of +10.1% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +61.7% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of 33%. Over the period under review, the exports reached the maximum in 2022 and are expected to retain growth in the immediate term.

Export of Agricultural and Forestry Tractor in the United States (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Canada	735	638	1,000	1,230	18.7%
Australia	161	235	235	420	37.7%
Netherlands	26.2	47.7	77.2	113	62.8%
Germany	121	109	84.9	105	-4.6%
South Africa	36.7	37.5	70.1	102	40.6%
Mexico	90.9	77.2	73.5	102	3.9%
France	97.0	88.2	68.2	68.7	-10.9%
Belgium	30.1	20.5	106	64.6	29.0%
Others	855	526	645	670	-7.8%
Total	2,153	1,778	2,361	2,876	10.1%

Top Export Markets for Agricultural and Forestry Tractor from the United States in 2022:

Canada (35.3K units)
Australia (9.8K units)
Mexico (5.6K units)
Netherlands (5.6K units)
South Africa (1.5K units)
Belgium (1.3K units)
France (0.8K units)
Germany (0.6K units)

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the market for agricultural and forestry tractor in the U.S.. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Prodcom 28302100 - New agricultural and forestry tractors, wheeled, of an engine power . .37 kW
Prodcom 28302200 - New agricultural and forestry tractors, wheeled, of an engine power > .37 kW but . .59 kW (excluding pedestrian-controlled tractors)
Prodcom 28302330 - New agricultural and forestry tractors, wheeled, of an engine power > .59 kW but . .75 kW (excluding pedestrian-controlled tractors)
Prodcom 28302350 - New agricultural and forestry tractors, wheeled, of an engine power > .75 kW but . .90 kW (excluding pedestrian-controlled tractors)
Prodcom 28302370 - New agricultural and forestry tractors, wheeled, of an engine power > .90 kW (excluding pedestrian-controlled tractors)
Prodcom 28302390 - New tractors excluding agricultural/forestry tractors, wheeled, p edestrian-controlled tractors - road tractors for semi-trailers, t rack-laying tractors -tractors used on railway platforms

Country coverage:

United States

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in the U.S.
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023