The new report by Expert Market Research titled, ‘Global Agricultural Harvester Market Price, Size, Share, Growth, Trends, Analysis, Report and Forecast 2023-2028’, gives an in-depth analysis of the global agricultural harvester market, assessing the market based on its segments like product type, drive type, application, and major regions.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analyzing the market based on the SWOT and Porter’s Five Forces models.
The key highlights of the report include:
Market Overview (2018-2028)
- Forecast Historical Market Size (2020): USD 27.24 Billion
- Forecast CAGR (2023-2028): 4.8%
- Forecast Market Size (2026): USD 36.09 Billion
The growing demand for agricultural harvesters and cheaper costs and shorter harvesting times than hand harvesting are driving the global agricultural harvesters market.
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Several governments throughout the world have implemented a variety of beneficial regulations relating to farm mechanisation, resulting in new growth opportunities for the agricultural harvester industry.
To keep up with the rising demand for agricultural products, farmers have began modernising their machinery and tools. The market for agricultural harvesters is growing due to increased R&D activity and government incentives.
Due to the growing rate of mechanisation in the agricultural sector, the demand for agricultural harvesters is expanding, and combine harvesters have cheaper costs and shorter harvesting times than individual harvesters and manual harvesting. The market for agricultural harvesters is developing due to the increasing mechanization rate in the agriculture sector.
Agricultural Harvester Industry Definition and Major Segments
Farmers use agricultural harvesters to harvest their grain crops. They are responsible for reaping, threshing, and winnowing. These harvesters are used to boost farm production in a short amount of time, and their effectiveness has been proven to be superior to traditional harvesting methods.
Agricultural techniques are increasingly reliant on technology and instruments, such as harvesters, to reduce farm drudgery, increase productivity, lower crop production costs, and reduce harvest losses.
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By product type, the market is divided into:
- Combine Harvester
- Forage Harvester
By drive type, the market is divided into:
- Four-Wheel Drive Harvester
- Two-Wheel Drive Harvester
By application, the market is divided into:
By region, the industry is categorized into:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
Agricultural Harvester Market Trends
Several places around the world are facing labor shortages, prompting farmers to turn to mechanisation for help. As a result, several governments are encouraging the use of equipment to increase farm output. They are providing farmers with subsidies and appropriate training, which is boosting the sales of these harvesters.
To improve comfort and efficiency, vendors are constantly improving their equipment with telemetry and intelligent sensing technologies. Other innovative technologies, including as GPS and navigation systems, have been integrated into these harvesters to aid in the more precise execution of activities. Other factors driving the demand of harvesters include increasing food demand, rising rural incomes, and increasing adoption of modern farming practices, among others.
Agricultural harvesters, such as combine harvesters and forage harvesters, are in high demand among farmers due to their minimal crop wastage and excellent processing effectiveness. By merging three independent processes, including as harvesting, threshing, and winnowing, into one procedure, the combination of harvesters helps to reduce labour costs and time.
Agricultural harvester market expansion will be aided by technological advancements in forage harvesters, which will increase the product’s attractiveness among customers. The Asia Pacific harvester market is expected to account for the majority of revenue. Developing countries like India, China, Thailand, and Indonesia account for a significant portion of global sugarcane output.
Favourable government backing as well as the implementation of new policies to promote mechanised farming are some of the reasons propelling the target market forward. The target market in the region is predicted to develop due to agro-climatic conditions and the demand for high-quality agricultural products.
Furthermore, expanding research and development activities and increasing import and export activities are predicted to fuel the target market’s expansion. In terms of revenue, the European market is expected to play a considerable role in the worldwide market.
Key Market Players
The major players in the market include Deere & Company, CNH Industrial, AGCO Corporation [AGCO (NYSE)], Mahindra Tractor, Krone North America Inc., Yanmar Co., Ltd., and Bernard Krone Holding SE &Co. KG (Bernard Krone Holding), among others.
The report covers the market shares, capacities, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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