Harvesting Machinery Market Size
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 25.47 Billion |
| Market Size (2029) | USD 37.08 Billion |
| CAGR (2024 - 2029) | 7.80 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Harvesting Machinery Market Analysis
The Global Agricultural Harvesting Machinery Market size is estimated at USD 25.47 billion in 2024, and is expected to reach USD 37.08 billion by 2029, growing at a CAGR of 7.80% during the forecast period (2024-2029).
- The acute shortage of farm labor, the technological advancements in agricultural machinery and various government backedsubsidy policies supporting the purchase of farming machinery in developing economies such as India is driving the market growth for harvestors.
- The high initial capital cost and more inclination of farmers towards traditinal plowing methods are some of the factors restraining the market growth.
- Deere & Company (John Deere), AGCO Corporation, CNH Industrial N.V and Mahindra & Mahindra Limited are some of the major players who have their presence in this market.
Harvesting Machinery Market Trends
This section covers the major market trends shaping the Harvesting Machinery Market according to our research experts:
Precision Farming for Quality Harvest
The need for quality harvest with an increased yield and productivity has led to the evolution of several advanced farming technologies in harvesters, such as increased electronic sensing to monitor harvest load, cloud-based processing for yield, and quality maps, among others. According to CEMA, 70%-80% of the new agricultural machinery and harvesters sold have been found to be equipped with precision farming technology. The increasing demand for harvesters equipped with technologically developed tools is further reflected through the total import value of combine harvesters in the region such as Europe, where imports rose from USD 3.41 million in 2016 to USD 4.10 million in 2018. As such, the ongoing trend of precision farming is projected to increase the demand for harvesters duing the forecast period.
Asia Pacific is the Fastest growing market
The acute shortage of labor resources for agricultural activities, owing to the lucrative opportunities in the growing industrial sector, is the major factor driving the growth of agricultural machinery equipment, such as harvesters in the region. In additin to this various governments are providing subsidies to farmers for investing in better equipment to efficiently meet the needs for higher productivity. For instance, Government of India inititated various farm mechanization programs in the country through the schemes, such Rashtriya Krishi Vikas Yojna (RKVY) and Mechanisation, under the National Food Security Mission (NFSM). Through these schemes, the government is encouraging farmers to purchase farm machinery, such as harvesters, by providing a subsidy. Thus, the demand for harvestor machines is projected to increase further with number of international companies launching their harvesting machinery by expanding their business in the region during the forecast period.
Harvesting Machinery Industry Overview
The global harvesting machinery market is fragmented with the presence of international players and numerous regional players operating in this market. Deere & Company (John Deere), AGCO Corporation, CNH Industrial N.V and Mahindra & Mahindra Limited are some of the major players who have their presence in this market. These players are using product innovation as their key strategy by launching harvestors with tailored featurescatering the needs of customers across various regions.
Harvesting Machinery Market Leaders
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Deere & Company
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CNH Industrial N.V
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AGCO Corporation
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CLAAS KGaA mbH
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Mahindra & Mahindra Limited
*Disclaimer: Major Players sorted in no particular order
Harvesting Machinery Market Report - Table of Contents
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1. INTRODUCTION
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1.1 Study Deliverables
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1.2 Study Assumptions
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1.3 Scope of the Study
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2. RESEARCH METHODOLOGY
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3. EXECUTIVE SUMMARY
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4. MARKET DYNAMICS
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4.1 Market Overview
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4.2 Market Drivers
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4.3 Market Restraints
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4.4 Porters five Force Analysis
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4.4.1 Threat of New Entrants
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4.4.2 Bargaining Power of Buyers/Consumers
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4.4.3 Bargaining Power of Suppliers
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4.4.4 Threat of Substitute Products
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4.4.5 Intensity of Competitive Rivalry
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5. MARKET SEGMENTATION
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5.1 By Machinery
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5.1.1 Combine Harvester
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5.1.2 Forage Harvester
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5.1.3 Sugar cane Harvester
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5.1.4 Other Harvestors
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5.2 Geography
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5.2.1 North America
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5.2.1.1 US
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5.2.1.2 Canada
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5.2.1.3 Mexico
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5.2.1.4 Rest of North America
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5.2.2 Europe
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5.2.2.1 Germany
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5.2.2.2 UK
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5.2.2.3 France
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5.2.2.4 Russia
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5.2.2.5 Spain
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5.2.2.6 Rest of Europe
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5.2.3 Asia Pacific
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5.2.3.1 India
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5.2.3.2 China
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5.2.3.3 Japan
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5.2.3.4 Rest of Asia Pacific
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5.2.4 South America
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5.2.4.1 Brazil
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5.2.4.2 Argentina
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5.2.4.3 Rest of South America
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5.2.5 Africa
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5.2.5.1 South Africa
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5.2.5.2 Rest of Africa
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6. COMPETITIVE LANDSCAPE
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6.1 Most Adopted Strategies
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6.2 Mergers & Acquisitions
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6.3 Company Profiles
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6.3.1 Deere & Company
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6.3.2 CNH Industrial
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6.3.3 AGCO Corporation
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6.3.4 CLAAS KGaA mbH
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6.3.5 Mahindra & Mahindra (Tractors)
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6.3.6 Krone NA, Inc.
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6.3.7 Yanmar Co., Ltd.
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6.3.8 KUBOTA Corporation
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6.3.9 Tractors and Farm Equipment Limited
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6.3.10 Bernard Krone Holding GmbH & Co. KG
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- *List Not Exhaustive
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7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Harvesting Machinery Industry Segmentation
The report includes all harvesters, like self propelled harvesters, tractor powered combine harvesters, and track combine harvesters, among others, used majorly in the crop harvest management. It also includes detailed study of the key players, with their current strategic interests and key financial performance indicators is also there in the study. The profiles of active major players and their business strategies, provide decisive information towards developing a competitive strategy for new/existing players.
| By Machinery | |
| Combine Harvester | |
| Forage Harvester | |
| Sugar cane Harvester | |
| Other Harvestors |
| Geography | ||||||||
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Harvesting Machinery Market Research FAQs
How big is the Global Agricultural Harvesting Machinery Market?
The Global Agricultural Harvesting Machinery Market size is expected to reach USD 25.47 billion in 2024 and grow at a CAGR of 7.80% to reach USD 37.08 billion by 2029.
What is the current Global Agricultural Harvesting Machinery Market size?
In 2024, the Global Agricultural Harvesting Machinery Market size is expected to reach USD 25.47 billion.
Who are the key players in Global Agricultural Harvesting Machinery Market?
Deere & Company, CNH Industrial N.V, AGCO Corporation, CLAAS KGaA mbH and Mahindra & Mahindra Limited are the major companies operating in the Global Agricultural Harvesting Machinery Market.
Which is the fastest growing region in Global Agricultural Harvesting Machinery Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Global Agricultural Harvesting Machinery Market?
In 2024, the North America accounts for the largest market share in Global Agricultural Harvesting Machinery Market.
What years does this Global Agricultural Harvesting Machinery Market cover, and what was the market size in 2023?
In 2023, the Global Agricultural Harvesting Machinery Market size was estimated at USD 23.63 billion. The report covers the Global Agricultural Harvesting Machinery Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Global Agricultural Harvesting Machinery Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Harvesting Equipment Industry Report
Statistics for the 2024 Harvesting Equipment market share, size and revenue growth rate, created by Mordor Intelligenceā¢ Industry Reports. Harvesting Equipment analysis includes a market forecast outlook 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
