U.S. Tractor Industry Analysis 2024-2029 with Deere & Co, TAFE, CNH Industrial, AGCO, and Kubota Dominating [Yahoo! Finance]
CNH Industrial N.V. Common Shares (CNH)
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Source: Yahoo! Finance
The U.S. Tractor Market totaled 280.09 Thousand Units in 2023, and is expected to reach 356.84 Thousand Units by 2029, rising at a CAGR of 4.12%. The U.S. tractor market is highly concentrated, with the top players controlling most of the market. Domestic and global brands, on the other hand, are equally represented in the market. Global brands not previously present in the U.S. are planning to enter the market. For instance, VST Tillers Tractors Ltd, an India-based company, has announced that it will enter the U.S. market in the next two years. Further, the industry has established players in various segments. Vendors have improved their aftersales services, making customers loyal to the existing brands. Established global players are moving toward increasing the introduction of technology in their offerings to attract more customers. For instance, CNH Industrial has introduced autonomous technology in agriculture tractors with Case IH, New Holland, and Steyr tractor brands. The
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- New Holland and Bluewhite to Bolster Autonomous Capabilities and Offering with Strategic PartnershipPR Newswire
- CNH Begins A Sustainable Year Series With a Focus on AI [Yahoo! Finance]Yahoo! Finance
- Farm Startups Bent on Shaking Up Cargill and ADM Are Floundering [BNN Bloomberg (Canada)]BNN Bloomberg
- Electrification and Power: Case IH Presents Its New Line of Tractors During Agrishow [Yahoo! Finance]Yahoo! Finance
- Global Farm Equipment Market Size To Worth USD 272.3 Billion By 2033 | CAGR Of 5.12% [Yahoo! Finance]Yahoo! Finance