(MENAFN- PR Newswire)
NEW YORK, June 10, 2024 /PRNewswire/ -- The global
agricultural harvester market
size is estimated to grow by USD 25.37
billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of 8.39% during the forecast period. Farm labor shortage in Agriculture sector
is driving market growth,
with a trend towards
growth in popularity of self-propelled forage harvesters with 3d cameras. However,
high initial and operating costs poses a challenge. Key market players include AGCO Corp., Bernard KRONE Holding SE and Co. KG, Bucher Industries AG, CHANGFA, Changzhou Dongfeng Agricultural Machinery Group Co. Ltd., China National Machinery Industry Corp. Ltd., CLAAS KGaA mBH, CNH Industrial NV, Daedong Corp., Deere and Co., HORSCH Maschinen GmbH, ISEKI and Co. Ltd., J C Bamford Excavators Ltd., Kubota Corp., Mahindra and Mahindra Ltd., SDF SpA, Sonalika International Tractors Ltd., Tractors and Farm Equipment Ltd., Weichei Lovol Heavy Industry Co. Ltd., and Yanmar Holdings Co. Ltd..
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Technavio has announced its latest market research report titled Global agricultural harvester market 2024-2028
Get a detailed analysis on regions, market segments, customer landscape, and companies-
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| Agricultural Harvester Market Scope |
| Report Coverage |
Details |
| Base year |
2023 |
| Historic period |
2018 - 2022 |
| Forecast period |
2024-2028 |
| Growth momentum & CAGR |
Accelerate at a CAGR of 8.39% |
| Market growth 2024-2028 |
USD 25373.6 million |
| Market structure |
Fragmented |
| YoY growth 2022-2023 (%) |
7.74 |
| Regional analysis |
Europe, North America, APAC, South America, and Middle East and Africa |
| Performing market contribution |
Europe at 32% |
| Key countries |
US, Germany, China, UK, and Canada |
| Key companies profiled |
AGCO Corp., Bernard KRONE Holding SE and Co. KG, Bucher Industries AG, CHANGFA, Changzhou Dongfeng Agricultural Machinery Group Co. Ltd., China National Machinery Industry Corp. Ltd., CLAAS KGaA mBH, CNH Industrial NV, Daedong Corp., Deere and Co., HORSCH Maschinen GmbH, ISEKI and Co. Ltd., J C Bamford Excavators Ltd., Kubota Corp., Mahindra and Mahindra Ltd., SDF SpA, Sonalika International Tractors Ltd., Tractors and Farm Equipment Ltd., Weichei Lovol Heavy Industry Co. Ltd., and Yanmar Holdings Co. Ltd. |
Market Driver
The agricultural harvester market is witnessing significant growth due to advancements in self-propelled forage harvesters. Key manufacturers, such as Deere, are introducing innovative features to enhance operational efficiency and reduce operator workload. Notable among these is the 3D camera with Active Fill Control, which automatically detects trailer fill levels and ensures consistent filling.
This technology allows operators to focus on machine optimization, leading to improved harvester performance and productivity. Additionally, an LED spout light package ensures steady filling in dark or extreme weather conditions. These features are gaining popularity and driving market growth during the forecast period.
The Agricultural Harvester Market is experiencing significant growth due to the increasing demand for efficient farming solutions. Farmers are investing in modern harvesters to improve yields and reduce losses. Labor-saving technologies like combine harvesters and sugarcane harvesters are popular choices. Producers in developing countries are also adopting these machines to meet the rising demand for agricultural products.
Additionally, precision farming and automation are trending areas in the market. Producers are focusing on producing high-quality crops and minimizing wastage through advanced harvesting techniques. Overall, the Agricultural Harvester Market is poised for continued growth in the coming years.
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Market
Challenges
The agricultural harvester market faces challenges due to the high initial cost and operating expenses. For instance, a base model of CNH Industrial's CASE IH new combine harvester in the US cost between USD400,000 and USD500,000 in 2022. Proper operation relies on the operator's product knowledge to avoid damaging components like rotating shafts, gears, chains, and belts.
Regular inspections are necessary to ensure proper functioning, with special attention to wear spots. Neglecting maintenance schedules can lead to malfunctions. These factors make the high cost a significant hurdle in the global agricultural harvester market.
The Agricultural Harvester Market faces several challenges in the farming industry. Farmers require efficient and productive harvesters to meet the increasing food demand. However, high production costs and the need for advanced technology pose significant challenges. Farmers in developing countries struggle with limited resources and outdated equipment.
Additionally, the labor shortage in some regions necessitates the use of automated harvesters. Furthermore, the need for sustainable farming practices and compliance with regulations adds complexity to the market. Producers must address these challenges to ensure the long-term success of the Agricultural Harvester Market.
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Segment Overview
Product
1.1 Combine harvesters
1.2 Forage harvesters
Type
2.1 Four-wheel drive harvesters
2.2 Two-wheel drive harvesters
Geography
3.1 Europe
3.2 North America
3.3 APAC
3.4 South America
3.5 Middle East and Africa
1.1
Combine harvesters- The agricultural harvester market is experiencing steady growth due to increasing global food demand. Major players include John Deere, Caterpillar, and AGCO. These companies offer a range of harvesters for various crops, enhancing farming efficiency. Technological advancements, such as autonomous harvesters and precision farming, further boost market expansion. Farmers worldwide seek reliable and productive harvesters to meet agricultural needs.
For more information on market segmentation with geographical analysis including forecast (2024-2028) and historic data (2017-2021) - Download a Sample Report
Research Analysis
In developing economies, the agricultural sector continues to play a significant role in economic growth and food security. Farmers in these regions face numerous challenges, including labor scarcity and the need for increased yield and product quality. Mechanical means, such as agricultural harvesters, have become essential tools to address these issues.
Harvesters, like combine harvesters, have revolutionized the farming industry by improving process speed and product quality. New Holland Fiat, among other manufacturers, offers a range of harvesters designed to optimize grain yield and tank size for various grains, including wheat. Farm mechanization and the use of advanced farm equipment have become crucial for farmers to remain competitive and efficient in today's agricultural landscape.
Market Research Overview
The Agricultural Harvester Market refers to the industry dedicated to producing and supplying harvesters for agricultural applications. These machines are designed to efficiently reap crops, such as grains, fruits, and vegetables, during the harvest season. The market is driven by various factors, including the increasing global population, the need for food security, and technological advancements in agricultural machinery.
Harvesting technologies have evolved significantly over the years, with the integration of automation, precision farming, and IoT (Internet of Things) in modern harvesters. Additionally, the market is witnessing a trend towards the development of multi-crop harvesters, which can reduce operational costs and increase productivity for farmers. Overall, the Agricultural Harvester Market is a critical sector that plays a significant role in ensuring food security and supporting the agricultural industry.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
Product
Combine Harvesters
Forage Harvesters
Type
Four-wheel Drive Harvesters
Two-wheel Drive Harvesters
Geography
Europe
North America
APAC
South America
Middle East And Africa
7
Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
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UK: +44 203 893 3200
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SOURCE Technavio
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