Farm Machinery and Equipment Manufacturing – 2024 U.S. Market Research Report

Publish Date: February 2024

This 63-page market research report provides a comprehensive analysis on the $32 billion farm machinery and equipment manufacturing industry in the United States. This report covers more than 100 statistical data sets with historical trend data from 2015 to 2023, and 2024 and 2028 forecasts. The source of the data is from annual comprehensive surveys from a majority companies in the farm machinery and equipment manufacturing industry.

This report has the in-depth industry insights you are looking for as it covers revenue & cost trends, detailed breakdown on 26 expenses, financial ratio benchmarks, 100+ forecasts, inventory trends & analysis, composition of balance sheets, company segmentation analysis, industry concentration analysis, production material costs, profit margin analysis, state metrics analysis, plant utilization, workforce composition, inflation statistics, employee pay analysis, in-depth productivity analysis, and numerous other data sets.

Farm Machinery and Equipment Manufacturing Report


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The 2024 U.S. Farm Machinery and Equipment Manufacturing Industry Market Research Report is 63 pages of deep insights into the trends, dynamics, and forecasts shaping the industry. You can use this market research report to develop a comprehensive fact base on the industry for strategy projects, forecasts, OPEX benchmarking, industry analysis, growth initiatives, financial analysis, plant productivity, market analysis, valuation analysis, organizational streamlining, sales & marketing benchmarking, productivity improvement initiatives, operational benchmarking, profitability analysis, and a ton more.

Below are a few page images from the report and check out the table of contents for a complete overview.

farm machinery and equipment manufacturing market size chart

Operating expense chart for farm machinery and equipment manufacturing

Farm Machinery and Equipment Manufacturing Profit

farm machinery and equipment manufacturing BCG Matrix

Farm Machinery and Equipment Manufacturing Factory Capacity Utilization Trend

Farm Machinery and Equipment Manufacturing Organizational Breakdown Chart


Industry Definition


This U.S. industry includes companies primarily engaged in manufacturing agricultural and farm machinery and equipment, and other turf and grounds care equipment, including planting, harvesting, and grass mowing equipment (except lawn and garden-type). 

NAICS Code: 333111

Total # of Companies: 990

Total # of Factories / Facilities: 1,105

Industry Employees: 57,919

Market Size: $32 billion

Product Lines Covered


Farm-type, power take-off hp, wheel tractors (2- and 4-wheel drive), sold with or without attachments (excluding parts)
Harvesting machinery (excluding hay and straw) and attachments
Parts for farm machinery, for sale separately
All other farm machinery and equipment (excluding parts), including attachments
Commercial turf and grounds care equipment, including parts and attachments
Farm dairy equipment, sprayers and dusters (excluding aerial types), farm blowers, and attachments
Planting, seeding, and fertilizing machinery and attachments, excluding turf machinery
Haying machinery and attachments
Farm plows (including plowshares, primary tillage), harrows, rollers, pulverizers, cultivators and weeders, and attachments
Farm machinery and equipment manufacturing, nsk, total

Table of Contents


Explore the below table of contents of the Farm Machinery and Equipment Manufacturing Industry Report to appreciate why thousands of professionals, bankers, consultants, accountants, and other executives rely on Kentley Insights for data-rich industry insights.


1-2 – Report Overview & Contents

3 – Industry Overview
– Data Sources
– Industry Definition & Examples

4 – Industry Synopsis – Revenue & Growth

5 – Industry Synopsis – Costs & Profitability

SECTION ONE
REVENUE & GROWTH ANALYSIS

7 – Market Size Details
– Industry Revenues
– Companies
– Facilities
– Trend Analysis 2015-2023
– 2024 & 2028 Forecasts

8 – Growth Benchmarks
– Sales per Company
– Sales per Plant
– Plants per Company
– Trend Analysis 2015-2023
– 2024 & 2028 Forecasts

9 – Product Lines Revenue
– Percentage of Revenue from Product Lines

10 – BCG Matrix – Net Income vs. Revenue Growth
– Subsectors vs. Industry

11 – Total Industry Sales by Month & Year
– 2019-2023 Sales per Month

12 – Inventory Value by Month & Year
– Inventory Value per Month for 2019-2023

13 – Months of Inventory
– Months of Inventory per Month for 2019-2023

14 – Sector Revenue by Segments
– Concentration Segments by Top Companies
– Business Size Segments
– Business Structure Segments

15 – Market Size by State
– Industry Revenue by State and Rankings

16 – Market Size as a % of State GDP
– Sales as a Percentage

17 – Industry Sales as a % of State Manufacturing
– Sales as a % of Income

18 – Industry Segmentation by Business Size
– Sales as a % of Income

19 – Industry Segmentation by Business Size
– Business Size Segments – 1-4, 5-9, 10-20, 21-50, 51-100, 101-250, & 250+ employees
– Companies, Facilities, Sales, Employees & Payroll

20 – Industry Segmentation by Concentration (Top 50 Companies)
– Concentration Segments – Top 4, 5-8, 9-20, & 21-50 companies
– Companies, Facilities, Sales, Employees & Payroll

21 – Industry Market Share of Top 50 Companies
– Market Share & Total Revenue for 2018 versus 2023

22 – Subsector Market Share of Top 50 Companies
– Market Share & Total Revenue for 2018 versus 2023

23 – Industry Segmentation by Business Structure
– Business Structure Segments – C-Corporations, S-Corporations, Partnerships, & Sole Proprietorships
– Companies, Facilities, Sales, Employees & Payroll

24 – Revenue per Company by State
– Revenue per Company

25 – Revenue per Company by Segments
– Business Size, Concentration, & Structure

26 – Revenue per Facility by State
– Sales per Facility & State Ranking

27 – Revenue per Facility by Segment
– Business Size, Concentration, & Structure

28 – Subsector Growth
– Sales and 5-Year Growth

29 – Subsector Statistics
– Sales per Company & Facility, and 5-Year Growth

30 – Consolidation Analysis
– 5-Year Growth of Companies & Locations

31 – Employment Consolidation Analysis
– 5-Year Growth of Employee Statistics

32 – Subsector Consolidation Analysis
– Number of Companies
– Number of Facilities
– 5-Year Growth

33 – Subsector Consolidation Analysis
– Facilities per Company
– Employees per Company
– 5-Year Growth

SECTION TWO
COST, CAPITAL & PROFIT BENCHMARKS

35 – Profitability & Financial Ratio Analysis
– Percent of Companies that are Profitable
– Average Net Income as a Percent of Revenue
– 10 of the Top Financial Ratios

Page 36 – Balance Sheet Metrics
– Assets and Liabilities indexed to industry revenue at 100
– Current & Non-Current Assets: Cash, Notes & Accounts Receivable, Allowance for Bad Debts, Inventories, Treasuries & Securities, Other Current Assets, Loans to Shareholders / Mortgage, Other Investments, Depreciable Assets, Accumulated Depreciation, Land, Intangible Assets (Amortizable), Accumulated Amortization, Other Assets
– Short-term, Long-term Liabilities, & Net Worth: Accounts Payable, Mortgages, Notes, Bonds due in less than 1 Yr., Other Current Liabilities, Loans from Shareholders, Mortgages, Notes, Bonds > 1 Yr., Other Liabilities, Capital Stock, Additional Paid-in Capital, Retained Earnings, Cost of Treasury Stock

37 – OPEX
– Industry OPEX
– Industry Revenue vs. OPEX Growth
– OPEX as a Percent of Revenue
– Trend Analysis 2015-2023
– 2024 & 2028 Forecasts

38 – OPEX by Company & Plant
– OPEX per Company
– OPEX per Facility
– Revenue vs. Expenses Growth per Plant
– Trend Analysis 2015-2023
– 2024 & 2028 Forecasts

Page 39 – OPEX Detail
– Employee Expenses: payroll, insurance, pension, defined contribution plans, fringe benefits, temps
– Cost of Materials: materials, parts, containers, packaging, cost of resale, electricity and fuels, contract work
– Buildings and Equipment: capex for equipment, rental or lease for equipment, capex for buildings and structures, rental or leases, repair and maintenance
– Other Operating Expenses: professional and technical services, IT software and hardware, data processing and communications, advertising, refuse removal, taxes and license fees, other
-Inventory Breakdown: finished goods, work-in-progress, materials and supplies

40 – Production Material Costs
– Top Production Material Costs Breakdown
– % of Total Production Material Cost

41 – Producer Pricing Index
– Annual PPI – Indexed to 2006
– Trend Analysis 2015-2023
– 2024 & 2028 Forecasts
– Monthly PPI Figures for the Past 4 Years

42 – Plant Utilization & Hours
– Plant Utilization Rate
– Plant Operational Hours per Week
– 2020-2023 Historical Figures by Quarter

43 – Reasons for Non-Full Production
– 7 Categories Quarterly Survey Results for Past 2 Years

44 – Productivity & Industry Employment
– Revenue per Employee
– Total Industry Employees
– Employees per Company
– Trend Analysis 2015-2023
– 2024 & 2028 Forecasts

45 – Employee Productivity by Segments
– Business Size, Concentration, & Structure

46 – Employee Productivity by State
– Revenue per Employee

47 –Subsector Sales & Payroll per Employee
– Absolute & 5-Year Growth

48 – Industry Payroll
– Payroll per Employee
– Payroll per Company
– Payroll per Plant
– Trend Analysis 2015-2023
– 2024 & 2028 Forecasts

49 – Payroll per Company by Segments
– Business Size, Concentration, & Structure

50 – Payroll per Plant by Segments
– Business Size, Concentration, & Structure

51 – Payroll per Employee by Segments
– Business Size, Concentration, & Structure

52 – Payroll per Employee by State
– Payroll per Employee

53 – Organizational Composition
– % of Employees for 27 Job Categories
– Management & Finance
– Sales & Marketing
– Technology, Engineering, Science
– Service, Support & Training
– Operations

54 – Job Categorization Pay Ranges
– Management & Finance
– Sales, Service & Marketing
– Operations
– Pay Bands – Bottom 10% & 25%, Mean, Top 25% & 10%

55 – Top 20 Jobs Breakdown
– Percent of Total Employees

56 – Top 20 Jobs Pay
– Pay Bands – Bottom 10% & 25%, Mean, Top 25% & 10%

57 – Employees per Company by Segments
– Business Size, Concentration, & Structure

58 – Employees per Plant by Segments
– Business Size, Concentration, & Structure

59 – Facilities per Company by Segments
– Business Size, Concentration, & Structure

60 – Total Employment by State
– Number of Employees

61 – Population to Every Employee by State
– Number of Residents to Industry Employee
– State Rankings

62 – Employees per Facility by State
– Average Number of Employees per Facility
– State Rankings

63 – Overview of Kentley Insights


Data Source & Forecast Methodology


For this report, the core data is sourced from comprehensive business, operational, and economic surveys conducted by government and private institutions and filled out by a statistically significant number of companies in the farm machinery and equipment manufacturing industry. The forecasts in the report are modeled by our research analysts using the latest economic forecasts, industry analysis, and historical trends.

Sample Report Download


Click on the image to download a full sample report. The 2024 Farm Machinery and Equipment Manufacturing Market Research Report has the same format and data sets.

Wood Kitchen Cabinet Countertop Manufacturing Report

Report Details


Report: Farm Machinery and Equipment Manufacturing Industry Market Research Report

Number of Pages: 63

Format: PDF

Price: $295

Support Contact:
Email us at support@kentleyinsights.com
Call us at 1-800-613-3611

Related Reports:
Other Machinery Industrial Manufacturing Market Research Reports
Machinery Manufacturing
Agriculture, Construction, and Mining Machinery Manufacturing
Agricultural Implement Manufacturing
Lawn & Garden Tractor and Equipment Manufacturing

Industry Jobs Analyzed


Metal Workers and Plastic Workers
Assemblers and Fabricators
Other Production Occupations
Engineers
Material Moving Workers
Business Operations Specialists
Other Installation, Maintenance, and Repair Occupations
Material Recording, Scheduling, Dispatching, and Distributing Workers
Supervisors of Production Workers
Sales Representatives, Wholesale and Manufacturing
Drafters, Engineering Technicians, and Mapping Technicians
Operations Specialties Managers
Top Executives
Financial Clerks
Other Office and Administrative Support Workers
Information and Record Clerks
Construction Trades Workers
Financial Specialists
Secretaries and Administrative Assistants
Other Management Occupations

Material Cost Categories


Materials, ingredients, containers, and supplies, nsk
Farm machinery and equipment
Cost of all other materials and components, parts, containers, and supplies consumed
Steel structural shapes and sheet piling (excluding castings, forgings, and fabricated metal products)
Steel sheet, steel strip, and tin mill products
Tires and inner tubes
Other motor vehicle parts, including air systems, filters, exhaust, wheels, frames, bumpers, radiators, etc.
Plastics products (including packaging, foam products, film, sheet, rod, tube, fabricated shapes, bottles, etc.)
Gas engines (excluding aircraft, automobile, and marine); diesel, semidiesel; and piston-type natural gas engines, and parts
Rubber and plastics hose and belting
Misc. fabricated metal products (excluding hardware, containers, screw machine, bearing components, castings, forgings, and wire)
Fluid power hose, tube fittings, valves and assemblies (hydraulic and pneumatic)
Steel bars (including concrete reinforcing bars), bar shapes, and plate (excluding castings, forgings, and fabricated)
Motor vehicle transmission and power train parts
Electric motors, generators, and parts
Mechanical speed changers, gears, and industrial high-speed drives
Metal crowns, closures, and other stamped metal products
Iron and steel castings
Metal bolts, nuts, screws, washers, rivets, and other screw machine products

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