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Since 1998 and through 2012, U.S. exports of agricultural equipment have grown relatively quickly, more than doubling from about $4 billion to $8.7 billion. [26] In 2021, the AEM reported an increase in sales of new agricultural machinery for the U.S. market. There also an 27% increase of new machinery manufacturing for this year.
The market in the United States is estimated at US$ 22.2 million in 2024. Sales of agricultural equipment in South Korea are projected to rise at 4.6% CAGR from 2024 to 2034. East Asia is estimated to capture a global market share of 25.6% in 2024. Revenue from the individual ownership segment is projected to reach US$ 136.9 billion by 2034.
The success of the "10" series John Deere tractors, led by the 4010, helped propel John Deere from a 23% market share in 1959 to 34% by 1964 when the 4020 was introduced, making it the top manufacturer of farm equipment in the United States. [46] [47] [48]
Hesston 5670 round baler, in 2010. AGCO was established on June 20, 1990 when Robert J. Ratliff, John M. Shumejda, Edward R. Swingle, and James M. Seaver, who were executives at Deutz-Allis, bought out Deutz-Allis North American operations from the parent corporation Klöckner-Humboldt-Deutz AG (KHD), a German company which owned the Deutz-Fahr brand of agriculture equipment.
Westford, USA, Sept. 03, 2024 (GLOBE NEWSWIRE) -- SkyQuest projects that the Global Connected Agriculture Market will reach a value of USD 16.88 Billion by 2031, with a CAGR of 19.10% during the forecast period (2024-2031).
Agriculture. Agricultural machinery relates to the mechanical structures and devices used in farming or other agriculture. There are many types of such equipment, from hand tools and power tools to tractors and the farm implements that they tow or operate. Machinery is used in both organic and nonorganic farming.
The market for industrial tractors grew in the 1930s. The TD-40, the first of IH's heavy-equipment crawlers, was suited for a wide range of environments. As demand for construction equipment grew, so did the competition. The diversification of the agricultural tractor range into genuine construction equipment whetted appetites for further ...
New Holland is a global full-line agricultural machinery manufacturer founded in New Holland, Pennsylvania, and now based in Turin, Italy.New Holland's products include tractors, combine harvesters, balers, forage harvesters, self-propelled sprayers, haying tools, seeding equipment, hobby tractors, utility vehicles and implements, and grape harvesters.