The harvester market is anticipated to grow at a CAGR of 22%, reaching US$32.94 billion in 2022 and US$240.61 billion by the end of the forecast period (2022-2032). The manufacturing and distribution of equipment for harvesting crops like wheat, corn, rice, and soybeans is referred to as the harvester market. Harvesters are typically self-propelled vehicles that collect and sort crops from the field using specialized attachments like a cutting head or reaper.
The agricultural machinery market, which also includes tractors, tillage tools, and irrigation systems, includes the harvester market as a significant subsegment. Harvester demand is closely related to global agricultural production because farmers need reliable, efficient machinery to collect their crops. Governmental directives, trade agreements, and technological developments all have an impact on the harvester market. For instance, the use of GPS technology and sensors in advanced harvester models has been made possible by the adoption of precision farming techniques, which has increased crop yields and decreased waste.
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Key Takeaways from the Market Study
- By product type, combine harvester market is expected to hold nearly 40% of the revenue share in 2022 and the segment is anticipated to record consistent development.
- By product, the trailed silage harvester segment is expected to capture 8% revenue share in 2022
- By sales channel, manufacturers are expected to dominate with more than 76% market share in 2022.
- The Europe harvester market size is projected to observe around 4.5% growth through 2032
- Asia Pacific is expected to possess 40% market share for harvester’s market.
- U.S., Canada, India and China will flourish at a CAGR of 67% combined until 2032
- John Deere & Company introduced the new FR27 Disc Saw Felling Head in September 2022. The business’s main priorities are expanding cutting and accumulating capacity.
- Agrifac Machinery B.V. announced a new dealership with AMC-TR in June 2021.
- The business intends to increase sales and after-sales of crop sprayers and beet harvesters through this dealership.
Major Harvester Service Providers
- AGCO Corporation
- Agrifac Machinery B.V.
- Alloway/Standard Industries Inc.
- ALIMA (Arnaud Freres)
- Argiles Maquinaria de Recolección
- CLAAS KGaA mbH
- CNH Industrial N.V
- Dep Agro Machineries Pvt. Ltd.
- Dewulf Group
- Energreen S.R.L
- North America: The North American harvester market is driven by the demand for advanced technology and precision farming practices. The US and Canada are the major markets for harvesters in this region.
- Europe: The European harvester market is characterized by high adoption of advanced harvesting technologies, such as automation and robotics. Germany, France, and the UK are the major markets for harvesters in this region.
- Asia Pacific: The Asia Pacific harvester market is driven by the increasing demand for food due to population growth and the adoption of advanced farming technologies. China and India are the largest markets for harvesters in this region.
- Latin America: The Latin American harvester market is driven by the increasing demand for crops such as soybeans, corn, and sugar cane. Brazil and Argentina are the major markets for harvesters in this region.
- Middle East and Africa: The Middle East and Africa harvester market is driven by the increasing adoption of modern farming techniques and the need to increase agricultural productivity. South Africa and Saudi Arabia are the major markets for harvesters in this region
Which are Some Prominent Drivers of Harvester Market?
- Increasing demand for food: The global population is expected to reach 9.7 billion by 2050, which will result in an increase in demand for food. Harvesters are essential tools for increasing agricultural productivity, which in turn helps to meet the growing demand for food.
- Technological advancements: The adoption of advanced technologies such as automation, robotics, and precision farming practices is driving the development of more efficient and effective harvesters. These technologies help to reduce labor costs, increase crop yields, and improve the quality of harvested crops.
- Government subsidies: Governments around the world offer subsidies and incentives to farmers to encourage the adoption of modern farming equipment, including harvesters. These subsidies make it easier for farmers to invest in new machinery and contribute to the growth of the harvester market.
- Increasing demand for biofuels: The growing demand for biofuels, such as ethanol and biodiesel, is driving the demand for crops such as corn and soybeans, which require harvesters for efficient collection. This trend is expected to continue to drive the growth of the harvester market.
- Climate change: The impact of climate change, such as unpredictable weather patterns and water scarcity, is driving the need for more efficient and sustainable agricultural practices. Harvesters play an important role in helping farmers to adapt to these changing conditions and optimize their crop yields
Key Questions Covered in the Harvester Market
- What is the current size and projected growth of the harvester market?
- What are the key drivers and restraints of the harvester market?
- Who are the major players in the harvester market and what is their market share?
- What are the different types of harvesters available and what are their respective advantages and disadvantages?
- What are the key applications of harvesters in different regions and industries?
- What are the latest technological advancements in the harvester market and how are they impacting the industry?
- What are the regulatory and environmental factors affecting the harvester market?
- What are the key strategies adopted by companies in the harvester market to maintain their market position and increase their market share?
- What is the impact of COVID-19 on the harvester market?
- What are the upcoming trends and opportunities in the harvester market?
Overall, the harvester market is an important industry that plays a vital role in ensuring efficient and sustainable agricultural production.