This report on the North American farm and industrial tractor market explores the U.S. Farm and Industrial tractor market: its major suppliers; imports; exports; sales and production levels and field population. Tractors are primarily found in farming and agriculture applications. Smaller machines however, are also found in construction, landscaping and a number of other applications; attachments allow tractors to perform a variety of tasks. In this report, we focus on tractors and the agriculture sector. We also examine the role agriculture plays globally as about x - x percent of U.S. tractor production is exported. On the flip side, more than xx percent of tractors sold in North America in 2018 were imported.
There are currently 20 tractor suppliers and 24 brand names sold in North America. Four companies—Deere, xx (Case and New Holland brands), xx and xx —dominate the market. Unit sales of these four companies combined accounted for xx percent of 2018 total unit sales. New Holland and Deere held commanding positions in the market for many years, however, beginning in 2009, Kubota set its sights on the North American market in earnest and by 2015 had surpassed the market leaders to be the leading supplier of tractors in North America. It transferred production of certain models from Japan to Jefferson, Georgia in 2013 as part of its commitment to the North American market and has since become one of the leading domestic producers of tractors. Industry 2018 tractor sales were xx units valued of just over $xx billion, which compares to xxx,700 units in 2017.
Consolidation drives the marketplace:
- OEMs: OEMs’ interest in partnering with information sector companies has grown over the last few years. John Deere’s acquisition of Blue River Technology and AGCO’s acquisition of Precision Planting, as well as Kubota’s efforts to become a full-line manufacturer with its acquisitions of Great Plains and Kverneland Group are examples of this. Their software and data analysis programs provide opportunities to supplement tractor and farm equipment sales.