According to a new report published by Indexbox, the United States dairy machinery market is expected to see steady growth in both volume and value over the next decade, with a forecasted CAGR of +0.4% in units and +1.2% in value from 2024 to 2035. By the end of 2035, the market is expected to reach 1.3M units and $75M in value.
Driven by increasing demand for dairy machinery in the US, the market is expected to continue an upward consumption trend over the next decade. Market performance is forecast to decelerate, expanding with an anticipated CAGR of +0.4% for the period from 2024 to 2035, which is projected to bring the market volume to 1.3M units by the end of 2035.
In value terms, the market is forecast to increase with an anticipated CAGR of +1.2% for the period from 2024 to 2035, which is projected to bring the market value to $75M (in nominal wholesale prices) by the end of 2035.
In 2024, consumption of dairy machinery increased by 42% to 1.3M units, rising for the third year in a row after four years of decline. In general, consumption continues to indicate a resilient increase. Dairy machinery consumption peaked in 2024 and is expected to retain growth in years to come.
The revenue of the dairy machinery market in the United States surged to $66M in 2024, rising by 59% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers’ margins, which will be included in the final consumer price). Overall, consumption enjoyed a strong increase. Over the period under review, the market hit record highs in 2024 and is expected to retain growth in years to come.
In 2024, overseas purchases of dairy machinery increased by 42% to 1.3M units, rising for the third year in a row after four years of decline. Overall, imports posted buoyant growth. The pace of growth was the most pronounced in 2022 when imports increased by 167% against the previous year. Over the period under review, imports attained the peak figure in 2024 and are expected to retain growth in years to come.
In value terms, dairy machinery imports skyrocketed to $58M in 2024. Over the period under review, imports continue to indicate a pronounced increase. As a result, imports attained the peak and are likely to continue growth in the immediate term. For more visit indexbox.io/blog/dairy-machinery-united-states-market-overview-2024-1/
