Global $39+ Bn Agricultural Harvester Market 2020: Growth, Share, Demand and Forecast Research Report to 2025
According to the latest research report by IMARC Group, titled “Agricultural Harvester Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025,” the global agricultural harvester market size reached US$ 27.9 Billion in 2019. Agricultural harvesters combine the process of reaping, threading and winnowing of crops. They are essential for harvesting patches of grain crops, including corn, rice, wheat, pulses and sunflowers. These harvesters minimize the manual labor required in the agricultural sector, as well as enhance productivity and output. They also aid in increasing farm production in a limited time, lowering crop production costs and making farming more profitable for the farmers. As a result, they are increasingly being incorporated in agricultural practices across the globe.
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Global Agricultural Harvester Market Trends:
The global market is primarily driven by increasing mechanization in the agricultural sector. Agricultural harvesters combine three separate processes in one process, which yields high harvesting efficiency in a short amount of time. Their usage results in high profits and low harvest losses, which has contributed to their increased uptake. Moreover, a shortage of labor, along with high associated costs, acts as a major hindrance to the growth of the agricultural industry. These harvesters are, therefore, being increasingly utilized to minimize farm drudgery and manual labor. The shifting preference toward self-propelled combine harvesters has also been observed on a global level. Since these harvesters offer improved efficiency as compared to tractor-mounted counterparts, they are widely gaining preference among the farmers. Furthermore, continuous technological advancements are expected to create a positive outlook for the market. Vendors have introduced innovative variants, which are integrated with GPS and navigation systems. They are also incorporating telemetry and intelligent sensing technologies in their machinery, which is rapidly gaining traction in the market. Growing global population and the increasing demand for food, along with government subsidies and training offered to the farmers to improve the agricultural infrastructure, are some of the other factors contributing to the market growth. On account of the aforementioned factors, the market is expected to reach a value of US$ 39.3 Billion by 2025, growing at a CAGR of 5.8% during the forecast period (2020-2025).
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Market Summary:
Based on the product type, the market has been bifurcated into the combine and forage harvesters.
On the basis of the drive type, the market has been divided into four-wheel and two-wheel drive harvesters.
Based on the application, the market has been classified into wheat, rice, maize, barley and others.
On the geographical front, the market has been segregated into North America, Asia Pacific, Europe, Middle East and Africa, and Latin America.
The competitive landscape of the market has been analyzed in the market with the detailed profiles of the key players. Some of these players include Deere & Company, CNH Industrial N.V., AGCO Corporation, CLAAS KGaA mbH, Mahindra & Mahindra Ltd., Maschinenfabrik Bernard Krone GmbH, Yanmar Holdings Co., Ltd., PÖTTINGER Landtechnik GmbH, Dewulf BV, Lovol Heavy Industry CO.,LTD, Lely International N.V., Ploeger Machines BV, PREET AGRO Industries (P) Limited, SDF S.p.A., and Sampo Rosenlew Ltd.
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