Global Agricultural Harvester Market Report and Forecast 2023-2028

Global Agricultural Harvester Market Report and Forecast 2023-2028

Market Outlook

According to the report by Expert Market Research (EMR), the global agricultural harvester market reached a value of USD 30.5 billion in 2022. Aided by the escalating demand for enhanced food production efficiency and the continuous technological advancements within the agricultural machinery sector, the market is projected to further grow at a CAGR of 2.91% between 2023 and 2028 to reach a value of USD 36.4 billion by 2028.

Agricultural harvesters, integral components of modern farming operations, are mechanised multi-purpose machines crafted to efficiently harvest crops. Their core function revolves around streamlining the harvesting process, reducing manual labour requirements, and augmenting the overall yield quality and quantity. With diverse models tailored for a variety of crops, including grains, fruits, and vegetables, these machines are pivotal in meeting the global food demand, especially in the context of a burgeoning world population.

Adding to the agricultural harvester market growth, is the relentless pursuit of efficiency within the farming community. As global food consumption patterns evolve, there’s an increasing pressure on farmers to maximise yields and minimise wastage. Harvesters, with their precision and speed, present a compelling solution, effectively reducing the time taken for harvesting and the associated labour costs.

Moreover, technological innovations are continually refining harvester functionalities. From GPS-guided systems and IoT-integrated machinery to automation and AI-driven analytics, the modern-day agricultural harvester is a marvel of engineering, ensuring optimal harvesting with minimal resource expenditure. These advancements are expected to boost the agricultural harvester market demand in the forecast period.

Changing climate patterns, unpredictable weather events, and the necessity to adapt quickly have made efficient harvesting not just a matter of profitability but also one of survival for many farmers. In such scenarios, advanced harvesters serve as crucial tools, allowing farmers to adapt to changing conditions and safeguard their yields.

The increasing emphasis on sustainable farming further bolsters the harvester market. As concerns about soil health, water use, and ecological balance intensify, harvesters equipped with sensors can provide critical data, enabling farmers to adopt techniques that favour both yield and the environment. In geographical terms, the Asia Pacific holds a significant portion of the agricultural harvester market share, owing to the changing mechanisation dynamics across emerging economies such as India and China.

Market Segmentation

The market can be divided based on product type, drive type, application, and region.

Market Breakup by Product Type

• Combine Harvester
• Forage Harvester

Market Breakup by Drive Type

• Four-Wheel Drive Harvester
• Two-Wheel Drive Harvester

Market Breakup by Application

• Wheat
• Rice
• Maize
• Barley
• Others

Market Breakup by Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

Competitive Landscape

The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global agricultural harvester market. Some of the major players explored in the report by Expert Market Research are as follows:

• Deere and Co.
• CNH Industrial N.V.
• AGCO Corporation
• Mahindra and Mahindra Ltd.
• Krone North America Inc.
• Yanmar Co., Ltd.
• Bernard Krone Holding SE and Co. KG
• Others

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*We at Expert Market Research always strive to provide you with the latest information. The numbers in the article are only indicative and may be different from the actual report.