Published on : Jul 01, 2016
ALBANY, New York, July 01, 2016: ResearchMoz.us has announced the addition of a new report to its growing market intelligence database. The report examines the U.S. agricultural machinery market and presents forecasts regarding the trajectory of the market in the 2016-2020 forecast period. All aspects of the U.S. agricultural machinery market are examined in the report in order to provide a comprehensive overview of the market. The report is titled ‘Agricultural Machinery Market in the US 2016-2020’ and is available for sale on the official website of ResearchMoz.us.
The report uses reliable analytical methodologies such as Porter’s five forces analysis to examine the various factors determining the growth trajectory of the U.S. agricultural machinery market. According to the report, the U.S. agricultural machinery market is expected to exhibit a steady 4% CAGR from 2016 to 2020. The major driver of the market is the recent drop in the availability of farm labor and the increasing awareness about the benefits of automation.
The report begins with an overview of the U.S. agriculture industry, including figures illustrating the amount of farmland available in the U.S. and the income gained from it. The key economic indicators used to gauge the U.S. agricultural machinery market are also given in the introductory section.
The report segments the U.S. agricultural machinery market by product type into tractors, haying machinery, livestock machinery, combine harvesters, plowing and cultivating machinery, and planting and fertilizing machinery. The factors impacting the demand are elaborated upon in the report to provide insights into the growth trajectory expected to be exhibited by each segment of the U.S. agricultural machinery market.
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The major driver for the U.S. agricultural machinery market is the increasing preference for automation and the drop in farm labor. Agricultural machinery is utilizable in a wide variety of agricultural tasks and can be customized to particular farmlands. This has ensured steady demand for agricultural machinery across the U.S.
The importance of agriculture to the national economy in the U.S. means that the fall in farm labor has drawn a quick reaction and demand for agricultural machinery has grown in response. Agricultural machinery has become crucial in areas where consistent farm labor is not available, which has driven the U.S. agricultural machinery market in the coming years.
On the other hand, the drop in commodity prices has reduced the profit margins for vendors in the U.S. agricultural machinery market in recent years. This is expected to be a major restraint on the market in the coming years. The effect of this factor can be ameliorated by vendors customizing their machinery according to the increasingly popular sustainable agriculture practices.
The report also examines the major players operating in the U.S. agricultural machinery market to provide a detailed analysis of the market’s competitive landscape. The major players profiled in the report include Deere & Company, AGCO, CNH Industrial, and Kubota.
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