The US Agricultural Trailers Market demonstrated consistent growth from 2013 to 2019, with minor fluctuations. Notably, in 2020, the market experienced a significant decline of 15.08%, likely due to the pandemic. However, recovery was quick with a substantial increase of 16.99% in 2021. By 2023, the market value was $444.81 million. Near-term forecasted growth is more moderate with a 2024 value of $453.04 million, reflecting an ongoing recovery. The compounded annual growth rate over the past five years was 1.89%, indicating steady but cautious growth.
Future trends to watch include the impact of technological advancements in agriculture, shifts in farming practices, and potential disruptions from economic or environmental factors. The forecasted five-year CAGR of 1.58% suggests cautious optimism.
