U.S. Farm Machinery And Equipment Market. Analysis And Forecast to 2030
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View PricingPrice for Farm Machinery and Equipment in the United States - 2023
Contents:
- Price for Farm Machinery and Equipment in the United States (CIF) - 2022
- Price for Farm Machinery and Equipment in the United States (FOB) - 2023
- Imports of Farm Machinery and Equipment in the United States
- Exports of Farm Machinery and Equipment in the United States
Price for Farm Machinery and Equipment in the United States (CIF) - 2022
In 2022, the average farm machinery and equipment import price amounted to less than $0.1 per unit, approximately equating the previous year. Over the period under review, the import price continues to indicate a pronounced slump. The most prominent rate of growth was recorded in 2018 when the average import price increased by 2.5% against the previous year. Over the period under review, average import prices hit record highs at $8 per unit in 2013; however, from 2014 to 2022, import prices remained at a lower figure.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was South Korea ($138 per unit), while the price for Israel ($1.8 per unit) was amongst the lowest.
From 2013 to 2022, the most notable rate of growth in terms of prices was attained by Mexico (-3.1%), while the prices for the other major suppliers experienced a decline.
Price for Farm Machinery and Equipment in the United States (FOB) - 2023
The average farm machinery and equipment export price stood at $19.7 per unit in August 2023, shrinking by -11.4% against the previous month. Over the period under review, the export price, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in February 2023 when the average export price increased by 27% month-to-month. Over the period under review, the average export prices attained the maximum at $23.6 per unit in May 2023; however, from June 2023 to August 2023, the export prices remained at a lower figure.
Prices varied noticeably by the country of destination: the country with the highest price was China ($51.1 per unit), while the average price for exports to Mexico ($3.5 per unit) was amongst the lowest.
From August 2022 to August 2023, the most notable rate of growth in terms of prices was recorded for supplies to China (+12.7%), while the prices for the other major destinations experienced mixed trend patterns.
Imports of Farm Machinery and Equipment in the United States
After two years of decline, supplies from abroad of farm machinery and equipment decreased by 0% to less than 0.1 units in 2022. Over the period under review, imports recorded a relatively flat trend pattern. The smallest decline of 99.9% was in 2020. Over the period under review, imports hit record highs at 1.3B units in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.
In value terms, farm machinery and equipment imports surged to $15.8B in 2022. In general, total imports indicated a significant expansion from 2019 to 2022: its value increased at an average annual rate of +20.4% 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 +74.7% against 2019 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 35%. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in the immediate term.
| Import of Farm Machinery and Equipment in the United States (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Germany | 1,453 | 1,738 | 2,325 | 3,002 | 27.4% |
| Canada | 1,170 | 1,140 | 1,435 | 1,942 | 18.4% |
| Japan | 1,235 | 1,108 | 1,417 | 1,770 | 12.7% |
| China | 896 | 1,069 | 1,452 | 1,430 | 16.9% |
| Mexico | 797 | 702 | 831 | 1,255 | 16.3% |
| South Korea | 523 | 566 | 879 | 1,130 | 29.3% |
| Italy | 598 | 557 | 717 | 1,020 | 19.5% |
| India | 408 | 413 | 665 | 980 | 33.9% |
| Netherlands | 227 | 197 | 211 | 259 | 4.5% |
| Spain | 142 | 143 | 182 | 227 | 16.9% |
| Thailand | 55.3 | 55.1 | 94.2 | 99.4 | 21.6% |
| Taiwan (Chinese) | 42.4 | 45.5 | 75.8 | 87.8 | 27.5% |
| Israel | 61.0 | 57.2 | 58.2 | 63.9 | 1.6% |
| Others | 1,449 | 1,285 | 1,882 | 2,556 | 20.8% |
| Total | 9,057 | 9,077 | 12,225 | 15,823 | 20.4% |
Top Suppliers of Farm Machinery and Equipment to the United States in 2022:
- China (161.5M units)
- Mexico (41.0M units)
- Canada (36.4M units)
- Israel (36.4M units)
- India (34.6M units)
- Germany (30.9M units)
- Italy (27.6M units)
- Spain (20.4M units)
- Taiwan (Chinese) (17.1M units)
- Japan (16.6M units)
- Netherlands (9.6M units)
- Thailand (9.4M units)
- South Korea (8.2M units)
Exports of Farm Machinery and Equipment in the United States
In 2022, after two years of decline, there was decline in shipments abroad of farm machinery and equipment, when their volume decreased by 0% to less than 0.1 units. Overall, exports continue to indicate a relatively flat trend pattern. The smallest decline of 99.9% was in 2020. The exports peaked at 1.1B units in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.
In value terms, farm machinery and equipment exports soared to $9.9B in 2022. The total export value increased at an average annual rate of +8.9% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, the exports attained the peak and are likely to continue growth in the immediate term.
| Export of Farm Machinery and Equipment in the United States (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Mexico | 1,385 | 1,142 | 1,333 | 1,592 | 4.8% |
| Brazil | 438 | 215 | 323 | 547 | 7.7% |
| China | 361 | 372 | 299 | 413 | 4.6% |
| Others | 5,513 | 4,954 | 6,122 | 7,389 | 10.3% |
| Total | 7,697 | 6,683 | 8,077 | 9,941 | 8.9% |
Top Export Markets for Farm Machinery and Equipment from the United States in 2022:
- Mexico (451.5M units)
- Brazil (21.3M units)
- China (13.8M units)
This report provides an in-depth analysis of the market for farm machinery and equipment 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:
- NAICS 333111 - Farm machinery and equipment manufacturing
Companies mentioned:
- The Toro Company
- Behlen Mktg.
- Alamo Group (usa) Inc.
- Big Tex Trailer Manufacturing
- Travis Pattern & Foundry
- Fiat Allis North America
- Gsi Holdings Corp.
- Bajaj Coneagle
- Agricultural Productivity Companies
- Caterpillar Brazil
- Deere & Company
- AGCO Corporation
- Lindsay Corporation
- Sukup Manufacturing Co.
- Alamo Group
- Cnh
- Case New Holland Industrial
- Behlen Mfg. Co.
- New Holland North America
- Hagie Manufacturing Company
- Orbit Irrigation Products
- Metalcraft of Mayville
- Priefert Mfg. Co.
- Scafco Corporation
- Great Plains Manufacturing Incorporated
- Sioux Steel Company
- Kuhn North America
- Cnh Industrial America
- Unverferth Manufacturing Company
- Taylor Farms Florida
- Rivulis Irrigation
- J. & M. Manufacturing Co.
- Creamer Metal Products
- CPM Acquisition Corp.
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.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
-
2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- 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
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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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- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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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
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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In value terms, farm machinery and equipment imports surged to $1.4B in March 2023.
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In value terms, machinery, plant (not domestic), and laboratory equipment; electr exports stood at $X in 2016. The total export value increased at an average annual rate of +X% over the period fro...
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Machine Tool imports reached a significant value of $735M in June 2023.
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Machine Tool imports totaled $784M in March 2023
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During the review period, Scale And Balance imports reached a peak in 2023 and are projected to continue growing. In terms of value, imports slightly decreased to $942M in 2023.
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In April 2023, the growth rate of Scale And Balance was exceptionally high, increasing by 30% compared to the previous month. The value of imports declined to $77M in November 2023.
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In April 2023, the growth of Scale And Balance was at its most rapid, experiencing a month-to-month increase of 30%. By August 2023, the value of imports for Scale And Balance reached $87M.
195
In April 2023, the scale and balance price stood at $10,884 per ton (CIF, US), with a decrease of -19.5% against the previous month.
