NAICS 333111 Quarterly Industry Report
Farm Machinery and Equipment Manufacturing
Comprehensive industry research for valuation professionals, business owners, buyers, and lenders
NAICS Code: 333111Sector: 33Updated: Q1 2026
About This Report
This Fair Market Value industry report covers NAICS 333111 (Farm Machinery and Equipment Manufacturing) using the 2022 North American Industry Classification System. Data sources include the U.S. Census Bureau[5] NAICS classification documentation, Bureau of Labor Statistics[6] employment data for machinery manufacturing, and SBA size standard tables. Content addresses industry structure, product scope, and market dynamics for establishments primarily engaged in manufacturing agricultural machinery and implements.
Industry Snapshot
Key metrics for the farm machinery and equipment manufacturing industry.
Industry Definition & Overview
Farm Machinery and Equipment Manufacturing (NAICS 333111) encompasses establishments primarily engaged in manufacturing farm machinery and equipment, including wheel tractors, plows, harrows, planting equipment, combines, harvesting machinery, and turf care equipment (except lawn and garden type). Per the Census Bureau[5], this classification covers a broad range of agricultural mechanization products serving crop and livestock producers nationwide.
The industry features a mix of large multinational manufacturers and smaller specialty equipment producers. Major firms operate multiple facilities with integrated supply chains spanning foundries, machining centers, and assembly plants. Smaller manufacturers focus on specialized implements such as orchard equipment, specialty crop harvesters, or precision planting attachments. Core manufacturing processes include steel fabrication, CNC machining, hydraulic system assembly, paint finishing, and final equipment integration. Workforce requirements span welding, machining, electrical assembly, and quality inspection disciplines.
Geographic concentration follows agricultural market proximity. Facilities cluster in Midwest states including Illinois, Wisconsin, Iowa, Minnesota, and Nebraska, near major farming regions. BLS employment data[6] shows machinery manufacturing employment distributing across the Corn Belt and Great Plains states where equipment dealers and service networks support farmer customers. Raw material inputs include structural steel, castings, engines, hydraulic components, tires, and electronic control systems sourced from both domestic and international suppliers.
What's Included in This Industry
- Farm tractors and tractor attachments
- Combine harvesters and grain harvesting equipment
- Planting machines, seeders, and transplanting equipment
- Haying machinery including mowers, balers, and rakes
- Tillage equipment including plows, harrows, and cultivators
- Farm-type spraying and irrigation equipment
- Fertilizer spreaders and application machinery
- Milking machines and dairy equipment
- Livestock handling and feeding equipment
- Turf care equipment (except lawn and garden type)
NAICS Classification Hierarchy
| Level | Description | Code |
|---|---|---|
| Subsector | Machinery Manufacturing | 333 |
| Industry Group | Agriculture, Construction, and Mining Machinery Manufacturing | 3331 |
| NAICS Industry | Agricultural Implement Manufacturing | 33311 |
| National Industry | Farm Machinery and Equipment Manufacturing | 333111 |
Related NAICS Codes
| Code | Description | Relationship |
|---|---|---|
| 333112 | Lawn and Garden Tractor and Home Lawn and Garden Equipment Manufacturing | Manufactures lawn and garden tractors and equipment designed for residential and light commercial use, distinguished from farm machinery by smaller scale, consumer market orientation, and different distribution channels |
| 333120 | Construction Machinery Manufacturing | Produces construction machinery including dozers, excavators, and loaders that share manufacturing processes, supply chain components, and engineering capabilities with farm equipment producers |
| 333131 | Mining Machinery and Equipment Manufacturing | Manufactures mining machinery and equipment requiring similar heavy fabrication, hydraulic system integration, and powertrain engineering capabilities used in agricultural equipment production |
| 333612 | Speed Changer, Industrial High-Speed Drive, and Gear Manufacturing | Produces speed changers, industrial drives, and gear assemblies that serve as critical drivetrain components integrated into tractors, combines, and other farm machinery transmission systems |
| 333921 | Elevator and Moving Stairway Manufacturing | Manufactures elevator and conveyor systems used in agricultural material handling applications including grain elevators, feed conveyors, and harvesting equipment discharge systems |
| 333924 | Industrial Truck, Tractor, Trailer, and Stacker Machinery Manufacturing | Produces industrial trucks, tractors, and material handling equipment that overlaps with farm equipment in design engineering, hydraulic systems, and manufacturing process requirements |
Geographic Concentration
Top states by share of national establishments.
| # | State | % Est. | Total Est. |
|---|---|---|---|
| 1 | California | 9.1% | 101 |
| 2 | Iowa | 8.3% | 92 |
| 3 | Texas | 6.8% | 76 |
| 4 | Nebraska | 6.2% | 69 |
| 5 | Kansas | 5.2% | 58 |
| 6 | Pennsylvania | 4.8% | 53 |
| 7 | Illinois | 4.7% | 52 |
| 8 | Minnesota | 4.2% | 46 |
| 9 | Wisconsin | 3.9% | 43 |
| 10 | Georgia | 3.3% | 36 |
% Of Establishments
0%
9%
Source: County Business Patterns, U.S. Census Bureau[3]
SBA Lending Summary
88
Total SBA Loans
$54.4M
Total Loan Volume
$618K
Average Loan Size
12 yrs
Average Loan Term
10.00%
Average Interest Rate
1,056
Jobs Supported
Source: SBA 7(a) Program Data, U.S. Small Business Administration — FY 2025[4]
Key Insight: The Small Business Administration[7] sets the size standard for NAICS 333111 at 1,250 employees. Firms averaging 1,250 or fewer employees over the preceding 12 months qualify as small businesses for SBA loan programs, federal contracting set-asides, and small business certifications. This elevated threshold reflects the capital intensity and scale requirements of agricultural equipment manufacturing, where large production runs and extensive dealer networks characterize competitive operations. Eligible businesses can access SBA 7(a) loans[8] for working capital, equipment, and acquisition financing, while 504 loans[9] support major fixed-asset purchases including real estate and heavy machinery.
Top SBA Lenders
| # | Lender | Loans | Volume | Avg Loan |
|---|---|---|---|---|
| 1 | Brookline Bank, a Division of Beacon Bank and Trust | 8 | $25.6M | $3.2M |
| 2 | Live Oak Banking Company | 16 | $11.9M | $743K |
| 3 | Newtek Bank, National Association | 8 | $4.0M | $500K |
| 4 | Northeast Bank | 24 | $3.4M | $143K |
| 5 | The Central Trust Bank | 8 | $3.4M | $421K |
Frequently Asked Questions
Common questions about this industry.
What types of businesses are classified under NAICS 333111?
NAICS 333111 classifies establishments primarily engaged in manufacturing farm machinery and equipment. Products include tractors, combines, planting equipment, tillage implements, harvesting machinery, haying equipment, and turf care machines (except lawn and garden type). The Census Bureau[5] excludes lawn and garden equipment (NAICS 333112) and construction tractors (NAICS 333120) from this classification.
How is the farm machinery manufacturing industry structured?
A small number of large multinational firms dominate tractor and combine production, operating integrated manufacturing complexes with foundries, machining centers, and assembly lines. Hundreds of smaller manufacturers produce specialized implements including planting attachments, tillage tools, specialty crop harvesters, and livestock handling equipment. Many small firms sell through the dealer networks of major tractor brands or directly to farmers at regional equipment shows.
What is the SBA size standard for farm machinery manufacturers?
The SBA sets the size standard at 1,250 employees for NAICS 333111. Firms at or below this threshold qualify as small businesses for federal contracting preferences and SBA lending programs. This elevated threshold reflects the capital intensity of agricultural equipment manufacturing. Details appear in the SBA size standards table[7].
What NAICS codes are closely related to farm machinery manufacturing?
NAICS 333112 covers lawn and garden equipment, the consumer counterpart to farm machinery. NAICS 333120 covers construction machinery sharing similar manufacturing processes. Larger 333131 covers mining equipment with overlapping engineering capabilities. NAICS 333612 covers drivetrain components. These codes represent adjacent manufacturing sectors with shared supply chains and engineering talent.
What industries depend on farm machinery manufacturers?
Crop farms and ranches represent the primary customer base, purchasing tractors, implements, and harvesting equipment through dealer networks. Agricultural service providers buy specialized equipment for custom farming operations. According to BLS data[6], farm machinery manufacturing employment supports an extensive supply chain of component manufacturers, dealers, and aftermarket parts suppliers.
What activities does NAICS 333111 include?
Covered products include farm tractors, combines, planters, tillage equipment, haying machinery, sprayers, fertilizer applicators, milking machines, livestock equipment, and turf care machines. Manufacturing activities span metal fabrication, CNC machining, hydraulic system assembly, paint finishing, and final equipment integration. Excluded items include lawn mowers and garden tractors (NAICS 333112) and construction dozers (NAICS 333120).
Are farm equipment manufacturers eligible for SBA loans?
Yes, manufacturers meeting the 1,250-employee threshold qualify for SBA lending programs including 7(a) loans for equipment and working capital and 504 loans for facility expansion. The SBA funding programs[10] page details eligibility and application requirements for manufacturing businesses seeking growth capital.
Where is farm machinery manufacturing concentrated in the United States?
Illinois, Wisconsin, Iowa, Minnesota, and Nebraska host the largest concentrations of farm equipment manufacturing facilities, situated near major agricultural markets in the Corn Belt and Great Plains. Additional operations exist in Kansas, Indiana, and Texas. According to BLS employment data[6], Midwest states maintain the highest machinery manufacturing employment density, reflecting proximity to farmer customers and established component supply chains.
Sources & References
Government datasets and editorial sources used in this report.
- [1]U.S. Bureau of Labor Statistics, Quarterly Census of Employment and Wages bls.gov
- [2]U.S. Census Bureau, Economic Census census.gov
- [3]U.S. Census Bureau, County Business Patterns census.gov
- [4]U.S. Small Business Administration, SBA 7(a) Loan Program Data data.sba.gov
- [5]Census Bureau census.gov
- [6]BLS employment data bls.gov
- [7]Small Business Administration sba.gov
- [8]SBA 7(a) loans sba.gov
- [9]504 loans sba.gov
- [10]SBA funding programs sba.gov
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