Report U.S. - Tractors - Market Analysis, Forecast, Size, Trends and Insights for 499$
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U.S. - Tractors - Market Analysis, Forecast, Size, Trends and Insights
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U.S.: Tractor Market 2022

Tractor Market Size in the U.S.

In 2021, after two years of decline, there was growth in the U.S. tractor market, when its value increased by 4.6% to $X. Over the period under review, consumption, however, showed a buoyant expansion. Over the period under review, the market attained the peak level in 2021 and is likely to continue growth in years to come.

Tractor Production in the U.S.

In value terms, tractor production contracted slightly to $X in 2021. In general, production, however, continues to indicate a prominent increase. The most prominent rate of growth was recorded in 2016 when the production volume increased by 49%. Tractor production peaked at $X in 2018; however, from 2019 to 2021, production failed to regain momentum.

Tractor Exports

Exports from the U.S.

In 2021, overseas shipments of tractors were finally on the rise to reach X units for the first time since 2018, thus ending a two-year declining trend. Overall, exports, however, continue to indicate a slight reduction. The most prominent rate of growth was recorded in 2014 when exports increased by 68% against the previous year. As a result, the exports reached the peak of X units. From 2015 to 2021, the growth of the exports remained at a lower figure.

In value terms, tractor exports surged to $X in 2021. Over the period under review, exports, however, saw a noticeable curtailment. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

Canada (X units) was the main destination for tractor exports from the United States, with a 51% share of total exports. Moreover, tractor exports to Canada exceeded the volume sent to the second major destination, Mexico (X units), fivefold. The third position in this ranking was held by Australia (X units), with a 4.9% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Canada was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Mexico (+0.3% per year) and Australia (-7.0% per year).

In value terms, Canada ($X) remains the key foreign market for tractor exports from the United States, comprising 56% of total exports. The second position in the ranking was taken by Australia ($X), with a 9.1% share of total exports. It was followed by Belgium, with a 2.9% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Canada amounted to -2.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Australia (-9.1% per year) and Belgium (+1.0% per year).

Export Prices by Country

In 2021, the average tractor export price amounted to $X per unit, dropping by -3.7% against the previous year. Over the period under review, the export price recorded a noticeable setback. The most prominent rate of growth was recorded in 2015 an increase of 71%. Over the period under review, the average export prices attained the peak figure at $X per unit in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major foreign markets. In 2021, the country with the highest price was Australia ($X per unit), while the average price for exports to Guatemala ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the Netherlands (+5.8%), while the prices for the other major destinations experienced a decline.

Tractor Imports

Imports into the U.S.

In 2021, tractor imports into the United States surged to X units, rising by 33% on the previous year. The total import volume increased at an average annual rate of +4.0% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2014 with an increase of 39% against the previous year. Over the period under review, imports attained the peak figure in 2021 and are likely to see gradual growth in the immediate term.

In value terms, tractor imports skyrocketed to $X in 2021. Over the period under review, total imports indicated buoyant growth from 2012 to 2021: its value increased at an average annual rate of +5.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -3.7% against 2019 indices. The most prominent rate of growth was recorded in 2018 with an increase of 37%. Imports peaked at $X in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Mexico (X units), Japan (X units) and South Korea (X units) were the main suppliers of tractor imports to the United States, with a combined 74% share of total imports. These countries were followed by India, Germany, Indonesia, Turkey, Italy and the UK, which together accounted for a further 21%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Indonesia (with a CAGR of +48.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Mexico ($X) constituted the largest supplier of tractor to the United States, comprising 60% of total imports. The second position in the ranking was held by Germany ($X), with an 11% share of total imports. It was followed by Japan, with an 8.2% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Mexico stood at +5.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+13.6% per year) and Japan (+0.2% per year).

Import Prices by Country

In 2021, the average tractor import price amounted to $X per unit, almost unchanged from the previous year. Over the last nine-year period, it increased at an average annual rate of +1.4%. The growth pace was the most rapid in 2013 when the average import price increased by 19% against the previous year. Over the period under review, average import prices attained the peak figure at $X per unit in 2018; however, from 2019 to 2021, import prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (+9.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

Base Year Historical Period Forecast Period Units
2021 2007-2021 2022-2030 US$, Tons

Frequently Asked Questions (FAQ) :

What are the largest markets for tractors in the world?
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The countries with the highest volumes of consumption in 2021 were China, the United States and India, together accounting for 35% of global consumption.
What are the largest producers of tractors in the world?
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China constituted the country with the largest volume of tractor production, comprising approx. 18% of total volume. Moreover, tractor production in China exceeded the figures recorded by the second-largest producer, the United States, twofold. India ranked third in terms of total production with a 7.3% share.
What are the leading suppliers of tractors to the U.S.?
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In value terms, Mexico constituted the largest supplier of tractor to the United States, comprising 60% of total imports. The second position in the ranking was taken by Germany, with an 11% share of total imports. It was followed by Japan, with an 8.2% share.
What are the leading importers of tractors from the U.S.?
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In value terms, Canada remains the key foreign market for tractor exports from the United States, comprising 56% of total exports. The second position in the ranking was taken by Australia, with a 9.1% share of total exports. It was followed by Belgium, with a 2.9% share.
What is the average export price for tractors in the U.S.?
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In 2021, the average tractor export price amounted to $53,286 per unit, reducing by -3.7% against the previous year.
What is the average import price for tractors in the U.S.?
+
The average tractor import price stood at $44,388 per unit in 2021, leveling off at the previous year.

This report provides an in-depth analysis of the tractor market 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 28301000 - Pedestrian-controlled tractors
• 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
• Prodcom 28925000 - (Crawler tractors) Track-laying tractors
• Prodcom 29104300 - Road tractors for semi-trailers
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:
1. How to diversify your business and benefit from new market opportunities
2. How to load your idle production capacity
3. How to boost your sales on overseas markets
4. How to increase your profit margins
5. How to make your supply chain more sustainable
6. How to reduce your production and supply chain costs
7. How to outsource production to other countries
8. 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

1.1
REPORT DESCRIPTION
1.2
RESEARCH METHODOLOGY AND AI PLATFORM
1.3
DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
1.4
REPORT DESCRIPTION
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance

3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects

3.1
MARKET SIZE
3.2
MARKET STRUCTURE
3.3
TRADE BALANCE
3.4
PER CAPITA CONSUMPTION
3.5
MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business

4.1
TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
4.2
BEST-SELLING PRODUCTS
4.3
MOST CONSUMED PRODUCT
4.4
MOST TRADED PRODUCT
4.5
MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain

5.1
TOP COUNTRIES TO SOURCE YOUR PRODUCT
5.2
TOP PRODUCING COUNTRIES
5.3
TOP EXPORTING COUNTRIES
5.4
LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports

6.1
TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
6.2
TOP CONSUMING MARKETS
6.3
UNSATURATED MARKETS
6.4
TOP IMPORTING MARKETS
6.5
MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry

7.1
PRODUCTION VOLUME AND VALUE
8. IMPORTS

The Largest Import Supplying Countries

8.1
IMPORTS FROM 2012–2021
8.2
IMPORTS BY COUNTRY
8.3
IMPORT PRICES BY COUNTRY
9. EXPORTS

The Largest Destinations for Exports

9.1
EXPORTS FROM 2012–2021
9.2
EXPORTS BY COUNTRY
9.3
EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles

LIST OF TABLES
Table 1:
Key Findings In 2021
Table 2:
Market Volume, In Physical Terms, 2012–2021
Table 3:
Market Value, 2012–2021
Table 4:
Per Capita Consumption In 2007-2021
Table 5:
Imports, In Physical Terms, By Country, 2012–2021
Table 6:
Imports, In Value Terms, By Country, 2012–2021
Table 7:
Import Prices, By Country Of Origin, 2012–2021
Table 8:
Exports, In Physical Terms, By Country, 2012–2021
Table 9:
Exports, In Value Terms, By Country, 2012–2021
Table 10:
Export Prices, By Country Of Destination, 2012–2021
LIST OF FIGURES
Figure 1:
Market Volume, In Physical Terms, 2012–2021
Figure 2:
Market Value, 2012–2021
Figure 3:
Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2007-2021
Figure 4:
Market Structure – Domestic Supply vs. Imports, In Value Terms, 2007-2021
Figure 5:
Trade Balance, In Physical Terms, 2007-2021
Figure 6:
Trade Balance, In Value Terms, 2007-2021
Figure 7:
Per Capita Consumption, 2007-2021
Figure 8:
Market Forecast To 2030
Figure 9:
Products: Market Size And Growth, By Type
Figure 10:
Products: Average Per Capita Consumption, By Type
Figure 11:
Products: Exports And Growth, By Type
Figure 12:
Products: Export Prices And Growth, By Type
Figure 13:
Production Volume And Growth
Figure 14:
Exports And Growth
Figure 15:
Export Prices And Growth
Figure 16:
Market Size And Growth
Figure 17:
Per Capita Consumption
Figure 18:
Imports And Growth
Figure 19:
Import Prices
Figure 20:
Production, In Physical Terms, 2012–2021
Figure 21:
Production, In Value Terms, 2012–2021
Figure 22:
Imports, In Physical Terms, 2012–2021
Figure 23:
Imports, In Value Terms, 2012–2021
Figure 24:
Imports, In Physical Terms, By Country, 2021
Figure 25:
Imports, In Physical Terms, By Country, 2012–2021
Figure 26:
Imports, In Value Terms, By Country, 2012–2021
Figure 27:
Import Prices, By Country Of Origin, 2012–2021
Figure 28:
Exports, In Physical Terms, 2012–2021
Figure 29:
Exports, In Value Terms, 2012–2021
Figure 30:
Exports, In Physical Terms, By Country, 2021
Figure 31:
Exports, In Physical Terms, By Country, 2012–2021
Figure 32:
Exports, In Value Terms, By Country, 2012–2021
Figure 33:
Export Prices, By Country Of Destination, 2012–2021
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