HomeBusiness NewsHarvester Market Revenue Growth, Key Factors, Major Companies, Forecast by Fact MR

Harvester Market Revenue Growth, Key Factors, Major Companies, Forecast by Fact MR

The harvester market is projected to attain a value of US$ 32.94 Billion in 2022, with an estimated growth to US$ 240.61 Billion by the conclusion of the 2022-2032 prediction period, exhibiting a Compound Annual Growth Rate (CAGR) of 22%.

The global harvester market is a vital component of the agricultural sector, playing a pivotal role in harvesting various crops, including grains, oilseeds, fruits, and vegetables. Harvesters are agricultural machines designed to efficiently collect mature crops, contributing to increased productivity and reduced labor requirements. The market for harvesters has witnessed steady growth in recent years, owing to the increasing demand for mechanized farming techniques, as well as the adoption of advanced harvesting technologies.

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Market Opportunity:

The harvester market presents promising opportunities driven by several factors. First, the need to meet the growing global food demand, coupled with the necessity to enhance agricultural efficiency, has led to the increasing adoption of mechanized farming. This trend is especially evident in emerging economies where traditional farming methods are being replaced by modern techniques to boost agricultural productivity.

Moreover, the adoption of precision agriculture practices, which emphasize optimized resource utilization, has opened up new avenues for harvester manufacturers. Precision agriculture relies on data-driven technologies, such as GPS and remote sensing, to provide real-time insights for farmers. Harvesters equipped with advanced sensors and technology are integral to this approach, offering better crop monitoring and yield prediction. As sustainability and eco-friendliness become paramount in agriculture, manufacturers are developing eco-friendly and energy-efficient harvesters, thereby creating opportunities in the market for environmentally conscious farmers.

Market Challenges:

Despite the promising opportunities, the harvester market faces several challenges. High upfront costs associated with purchasing modern harvesters are a significant barrier for small-scale farmers in developing countries. Additionally, the complex technology and maintenance requirements of modern harvesters can pose challenges for less experienced operators. To address these issues, manufacturers need to develop cost-effective solutions and provide training and support to farmers.

Furthermore, the market’s growth is contingent on the availability and affordability of spare parts and maintenance services, which can be scarce in some regions. This challenge highlights the need for a well-established supply chain and after-sales service infrastructure to ensure the sustainability of the harvester market.

Key Players:

  • 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

Competitive Landscape:

John Deere & Company recently introduced the FR27 Disc Saw Felling Head in September 2022, with a focus on enhancing cutting and accumulating capabilities. Meanwhile, Agrifac Machinery B.V has announced a new dealership with AMC-TR in June 2021, aimed at bolstering the sales and after-sales support for their crop sprayers and beet harvesters.

Key Segments Profiled in the Harvester Industry Survey

  • By Type :
    • Forage Harvester
    • Combine Harvester
  • By Sales Channel
    • Manufacturers
    • Distributors
  • By Region :
    • North America
    • Latin America
    • Europe
    • Asia Pacific
    • Middle East & Africa

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