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Harvester Market

Harvester Market Analysis, By Type (Forage Harvester ,Combine Harvester), By Sales Channel (Manufacturers, Distributors), & By Region - Global Market Insights 2022-2032

Analysis of Harvester Market Covering 30+ Countries Including Analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more

Harvester Market Outlook (2022-2032)

The global harvester market is likely to reach US$ 32.94 Billion in 2022, and eventually US$ 240.61 Billion by the end of the 2022-2032 forecast period, registering a CAGR of 22%.

Growth of the market can be attributed to farmers using technologically advanced machines to enhance the crop yield. The market for harvester registered a CAGR of 15% in the historical period 2016-2021.

Harvesters have gained immense traction in farming, owing to benefits such as increased process speed and making the field accessible for the next crop within a shorter period. As per the U.S. Department of Agriculture, Americans spend an average of 12% of their home budget on food. This figure indicates significant opportunities for the use of harvesters to help keep up with the substantial food demand.

Several regions across the globe are experiencing a shortage of labor force which has led farmers to make a shift towards mechanization. In line with this, numerous governments are promoting the use of equipment to boost farm output. They are offering subsidies and necessary training to farmers which, in turn, is propelling the sales of these harvesters.

Furthermore, vendors are consistently upgrading their equipment with telemetry and intelligent sensing technologies to enhance convenience and efficiency. Other new features such as GPS and navigation systems have also been incorporated in these harvesters to help in carrying out operations with more precision. Other factors driving the demand of harvesters include increasing food demand, rising rural incomes, increasing adoption of modern farming practices, etc.

Report Attributes

Details

Anticipated Base Year Value (2021)

US$ 27 Billion

Expected Market Value (2022)

US$ 32.94 Billion

Projected Forecast Value (2032)

US$ 240.61 Billion

Global Growth Rate (2022-2032)

22% CAGR

Expected Growth Rate of Europe Market (2022)

4.5%

Expected Market Share of Asia Pacific (2022)

40%

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
  • Energreen S.R.L

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Sales Analysis of Harvester (2017-2021) Vs. Market Forecast Outlook (2022-2032)

According to Fact.MR, the market harvester market registered a CAGR of 11% in the historical period 2017-2021. During the coronavirus pandemic, the lockdowns may have led to restricted production, impacting the industry statistics slightly. Numerous farmers were not able to purchase new machinery or get timely delivery. However, the COVID-19 pandemic also had a positive impact the harvester industry, with the need for safer agriculture practices to mitigate the risk of infection.

As more people were rushing to the stores to buy essential food products, farmers were looking for different ways to enhance their crop production rate, elevating the demand for harvesters. Focus on maximizing RoI from agriculture in Asian countries is expected to drive the growth for harvester’s market.

In addition, supportive government initiatives to increase the adoption of modern harvesters in India & China are creating lucrative opportunities for the harvesters’ market. Rising sustainable farming practices in Latin America & the MEA is another key driver for market. Thus, the market for harvester is expected to register a CAGR of 14% in the forecast period 2022-2032.

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Which are Some Prominent Drivers of Harvester Market?

Demand for Improving Harvest Quality influencing Sales of Harvesters

The ability to ramp up the crop yield and improve the harvest quality using innovative features will influence the market trends. The concept of precision farming is gaining popularity among farmers globally.

As per a study by OECD, in the coming decade, about 85% of the progress in the global crop output will be attributed to improvements in the yield rate. Furthermore, multiple harvests can allow farmers to improve their land use, contributing to an additional yield growth.

Precision Farming shaping the Landscape for Harvester Market in Developing Countries

Increasing focus on precision farming for quality harvest is a key driver for the rapid adoption of harvesters in the agricultural field. Thus, the agricultural sector in the developed and developing region is investing in mechanized harvesters. North America is a major contributor to the market.

Moreover, the booming agricultural industry in Europe and Asia Pacific are positively influencing the demand for harvesters. For instance, increasing demand for intelligent harvester machines across Europe is shaping the landscape for market.

Know thy Competitors

Competitive landscape highlights only certain players
Complete list available upon request

What are the Challenges Faced by the Harvester Market?

Expensive nature of machinery affecting overall growth of harvester market

High machine cost may impede the global market development to some extent. Farm business owners have to invest heavily in high-tech agricultural machinery and equipment, adding to the operating costs.

Rising fuel prices, technological advancements, and demand for new machinery & modern parts are expected to further augment the agricultural equipment expenditures. This, in turn, is expected to restrain the overall market growth.

Comparative View of Adjacent Harvester Industry

Harvester Market :

Attributes

Harvester Market

CAGR (2022-2032)

14%

Market Value (2032)

US$ 240.61 Billion

Growth Factor

Increasing growth of the agricultural sector along with demand for tech-savvy harvesters is bolstering the demand for harvester market.

Opportunity

Technological advancements that offer results in lesser time are creating lucrative opportunities for harvester market.

Tractor Market :

Attributes

Tractor Market

CAGR (2022-2032)

3.4%

Market Value (2032)

US$ 192 Billion

Growth Factor

Increased construction and mining activities in various parts of the world is driving gains in the global market and the trend is likely to grow further in the projected future is creating lucrative opportunities for tractors market.

Opportunity

Increasing use of tractors in construction and mining activities, is expected to drive the demand for tractors market during the forecast period.

Agriculture Equipment Market :

Attributes

Agriculture Equipment Market

CAGR (2022-2032)

4.2%

Market Value (2032)

US$ 35.53 Billion

Growth Factor

Favorable weather circumstances for food production, as well as government assistance with loan waiver initiatives for producers and farmers of all income levels, are expected to boost market growth.

Opportunity

Government assistance in the form of farm Loan waivers/ credit financing to accelerate the growth of the agricultural equipment market.

Region-Wise Insights

Strong Presence of Manufacturers of Harvesters Creating Lucrative Opportunities for Harvester Market?

Digital Technologies bolstering demand for Harvesters in Europe

The Europe market size is projected to observe around 4.5% growth through 2032. Leading companies in the region, such as Manitou Group, CNH Industrial NV, and CLAAS KGaA mbH, are introducing advanced agricultural equipment to attract a larger customer base. The exportation of crops is playing a key role in the increasing adoption of technologically advanced harvesters.

Moreover, France and Germany held over 30% of the agriculture equipment market share in the region. In both the countries, the public and private sectors are opting for digital technologies to improve the overall agricultural production. with Germany being the hotspot for the automotive industry, Europe is expected to largely contribute to the market.

Favorable Financing Policies Along with Efficient Mechanization Spurring Growth of Harvesters in Asia Pacific?

Increasing Food Demand influencing Sales of Harvesters in the Asia Pacific

Increasing farm mechanization, awareness among farmers and government schemes are favoring the adoption of market in Asia Pacific. Several countries round the region are facing labour shortages, prompting farmers to shift towards mechanization for efficiency. The government and other institutions' favorable financing policies for machinery purchases, together with the ability to boost farm production, are fueling the market's expansion. Government of different countries are providing farmers with subsidies and appropriate training, which in turn is boosting the sales of harvesters within the region.

The market is in growing stage of industry life cycle owing to increasing food demand, rising rural incomes along with rise in farm mechanization within the use of farming practices. Simultaneously, the private sector’s investment is making a remarkable impact and bringing flow of liquidity within the sector, therefore, usage of agriculture machineries such as harvesters and planters are rising.

Furthermore, to enhance comfort and efficiency, vendors are constantly improving their equipment with telemetry and intelligent sensing technologies. Other innovative technologies, including GPS and navigation systems, are integrated into these harvesters to assist within the more precise execution of activities. Thus, Asia Pacific is expected to possess 40% market share for harvesters market.

Country-wise Forecast CAGRs for the Harvester Industry

Country CAGR

Germany

18%

France

15%

China

15%

India

19%

Category-Wise Insights

Combine Harvesters High Performance Delivery Favoring Growth of Harvester Market?

Integration of Technology in Combine Harvesters influencing Market Growth

Based on product type, harvester industry is segmented into Combine Harvester, Forage Harvester, Sugar beet Harvester, Potato Harvester, Wine Grape Harvester, Forage Mowers, Municipal Mowers

The ability to offer high-performance delivery of combine harvesters is boosting the application of these harvesters. In addition, the availability of machines that are equipped with onboard GPS systems, to offer information about the engine status, machine location, and harvesting speed, will impact the product adoption and propelling the growth of the overall market.

Thus, with regards to the 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.

High Operational Efficiency will fuel demand for Trailed Silage Harvesters

The forage harvesters are classified into trailed forage harvester, trailed silage harvester, mounted forage harvester, self-propelled forage harvester, among others. These machines are used on due to their optimum performance and high operational efficiency.

The harvesters are equipped with metal detectors on feed rollers that are composed of demagnetized material, further enhancing their applications. Thus, the trailed silage harvester segment is expected to capture 8% revenue share in 2022.

Development of Automated Settings in OEM’s Increasing Demand for Harvesters?

Technological developments pacing the sales of OEM’s for harvesters

Based on sales channel, the harvester market is categorized into manufacturers and distributors. Manufacturers of harvesters are striving to provide new and improved machines that consist of automated settings to maximize grain harvesting under changing conditions, while also minimizing grain loss.

Moreover, OEMs are increasingly focusing on technological developments in their products to appeal to a wider customer base. Easy access to different products and reliability of replacement parts will foster the preference for manufacturer sales network. Thus, manufacturers are expected to dominate with more than 76% market share in 2022.

Start-Ups for Harvesters Market

Key start-up players in the harvester market are Tevel Tech, Robotic Saffron, GROBOMAC, Four Growers and AvL Motion

  • AvL Motion, a key start-up player in the harvester industry is focusing on designing harvesters for asparagus specifically. The company’s asparagus harvester machine focuses on removing the same completely from the soil without the need of human intervention.
  • Israeli startup Tevel Tech combines an airborne patented robotics platform with sophisticated algorithms to create autonomous drones for orchard harvest and management. The company is focusing on developing a fleet of drones for performing picking, thinning, and pruning tasks in orchards. Through this, the company is focusing on providing a holistic harvesting solution to the farmer.

Market Competition

Some of the leading manufacturers operating in harvester market landscape include AGCO Corporation, Agrifac Machinery B.V., CLAAS KGaA GmbH, CNH Industrial NV, Deere & Company, Dep Agro Machineries Private Limited, Dewulf Group, Divima SRL, Energreen S.R.L., Yanmar Co., Ltd., Krone Group, SDF Group, Grimme Skandinavien A/S, Vassalli Fabril, and Frans Vervaet B.V., among many others. Strategic partnerships, acquisitions, and mergers will help these firms increase their customer base and product portfolio.

  • In September 2022, John Deere & Company launched the new FR27 Disc Saw Felling Head. The company is focuing on increasing cutting and accumulating capacity.
  • In June 2021, Agrifac Machinery B.V announced new dealership with AMC-TR. Through this dealership, the company is planning to strengthen its sales and after sales of crop sprayers and beet harvesters.

Key Segments Profiled in the Harvester Industry Survey

  • By Type :

    • Forage Harvester
      • OBD Scanners
      • Trailed Silage Harvester
      • Self-propelled Forage Harvester
      • Trailed Forage Harvester
      • Mounted Forage Harvester
      • Mounted Silage Harvester
    • Combine Harvester
      • Forage Harvester
      • Sugar beet Harvester
      • Potato Harvester
      • Wine Grape Harvester
      • Forage Mowers
      • Municipal Mowers
  • By Sales Channel

    • Manufacturers
    • Distributors
  • By Region :

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

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Fact.MR foresees harvester demand to reach US$ 32.94 Billion in 2022.

The market in Asia Pacific is expected to possess 40% market share for harvester market in 2022.

Manufacturers are expected to dominate with more than 76% market share in 2022.

Combine harvester market is expected to hold nearly 40% of the revenue share in 2022 and the segment is anticipated to record consistent development.

From 2022-2032, Fact.MR expects harvester revenue to flourish at a 22% CAGR.

In 2032, harvester market worth is poised to reach US$ 240.61 Billion.

The Europe harvester market size is projected to observe around 4.5% growth through 2032.

U.S., Canada, India and China will flourish at a CAGR of 67% combined until 2032.

As of 2021, the harvester market was worth US$ 27 Billion.

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