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