Sales of planting, seeding, and fertilizing machinery in the US peaked in 2013 at $2.5195 billion, subsequently experiencing a significant decline. By 2023, sales stood at $0.95635 billion, representing a substantial decrease over the decade. Year-on-year variations include a sharp 44.05% drop in 2015, followed by a gradual decline stabilizing with a -2.91% decline in 2023. The compound annual growth rate (CAGR) over the last five years indicates an annual decrease of -2.86% in sales. The forecasted data for 2024-2028 suggests a continued downturn with a 5-year CAGR of -2.7%, leading to an anticipated -12.79% overall decline by 2028.
Looking ahead, key trends to monitor include advancements in precision agriculture technologies, potential government subsidies for sustainable farming practices, and shifts in commodity prices which could influence farmer investment in machinery.
