Harvesting Equipment Market Size
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 30.17 Billion |
| Market Size (2029) | USD 39.56 Billion |
| CAGR (2024 - 2029) | 5.60 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Harvesting Equipment Market Analysis
The Global Agricultural Harvesting Machinery Market size is estimated at USD 30.17 billion in 2024, and is expected to reach USD 39.56 billion by 2029, at a CAGR of 5.60% during the forecast period (2024-2029).
The increasing global population and rising food consumption are necessitating higher crop yields, consequently driving demand for efficient harvesting machinery. India and China, each with populations exceeding 1.4 billion, face significant pressure to increase food production on limited arable land. For instance, in East China's Shandong Province, a major wheat-producing region, over 80% of newly deployed combine harvesters are high-efficiency models. These machines have accelerated the harvest process while maintaining loss rates below 1%, as reported by China Media Group.
In developed countries, the declining availability of agricultural labor has led to increased adoption of harvesting equipment. Eurostat data shows that agricultural labor in the European Union decreased by 4.6% from 2021 to 2023. This trend is particularly evident in countries like France, where the grape harvest, a significant fruit crop, increasingly relies on machinery. According to AXEMA, France leads globally in grape harvesting machine purchases, acquiring an average of 50% of the 1,000 machines manufactured annually. This growing reliance on harvesters is a key factor driving market growth.
Harvesting Equipment Market Trends
Rising Adoption of Combine Harvester by Farmers
The implementation of advanced production techniques and increased farm mechanization have enabled higher food production with fewer workers. Consequently, rising food demand and labor costs have led to increased global usage of combine harvesters. The automation of combine harvesters is a rapidly developing segment within the harvesting equipment market.
The global agricultural sector is experiencing increasing labor shortages and declining labor productivity, leading to greater adoption of agricultural machinery, including combine harvesters. The Economic Accounts for Agriculture (EAA) reported a 7% decrease in agricultural labor productivity in 2023. This decline is evident in most European Union countries, with 19 nations affected. Estonia (-57.9%), Sweden (-31.7%), and Ireland (-30.3%) experienced particularly significant reductions, according to Eurostat data. Rising labor costs further accelerate the adoption of combine harvesters, which traditionally require substantial manual labor. The U.S. Department of Agriculture (USDA) reported that the annual gross wage rate for field workers in the United States reached USD 17.88 in 2023, a 7% increase from the previous year. Combine harvesters perform multiple operations simultaneously, reducing reliance on manual labor while increasing output efficiency.
Market players in various regions are launching new products, further supporting market growth. For example, in 2023, Daedong Industrial Co. Ltd introduced Korea's first high-tech 6-lane combine harvester equipped with autonomous operation and yield monitoring features. This new model complements their existing lineup of autonomous agricultural machinery, which includes tractors and rice transplanters. The DH6135 is classified as a Level 3 autonomous vehicle, capable of operating without driver input in most conditions.
Asia Pacific Dominates the Market
The acute shortage of agricultural labor, driven by lucrative opportunities in the growing industrial sector, is the primary factor propelling the growth of agricultural harvesting machinery equipment in the region. This trend is further reinforced by increasing government initiatives to promote the adoption of modern agricultural harvesting machinery. For example, the Government of India introduced the "Farm Machinery Bank (FMB)/Farm Machinery Hub (FMH)" under the Farm Mechanization Umbrella Scheme in 2023, set to continue in 2024-25. This scheme aims to mitigate the high costs associated with owning farm machinery for small holdings. Additionally, the government offers a 50% subsidy on harvester costs under the Sub-Mission on Agriculture Mechanization (SMAM), further incentivizing farmers to adopt modern harvesting equipment.
The Chinese government is actively promoting farm mechanization for various crops, including rice, wheat, corn, potato, oilseed rape, cotton, and sugarcane. This commitment is evident in the country's deployment of advanced harvesting equipment. According to the Ministry of Agriculture and Rural Affairs, in 2024, China employed approximately 250,000 combine harvesters with a large feeding capacity of 9-10 kg/second in a single day, highlighting the use of more efficient and low-loss equipment for harvesting. These advanced harvesters, capable of covering over 20 hectares per day, effectively meet the demands of summer harvest operations. As a result of these government-led initiatives and the demonstrated efficiency of modern harvesting machinery, the demand for harvester machines is expected to increase during the forecast period, with governments continuing to implement supportive schemes and assist farmers in purchasing these advanced agricultural tools.
Harvesting Equipment Industry Overview
The global harvesting machinery market is fragmented, characterized by the presence of international players and numerous regional manufacturers. Key players in this market include Deere & Company (John Deere), AGCO Corporation, CNH Industrial N.V., and Mahindra & Mahindra Limited. These companies maintain their market positions through product innovation, focusing on developing harvesters with customized features to meet the specific needs of customers across different regions.
Harvesting Equipment 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 Equipment Market News
- February 2024: John Deere introduced the S7 Series of combines, a new line of harvesters. This series comprises four models: S7 600, S7 700, S7 800, and S7 900. These combines feature a new high-efficiency residue management system and an enhanced grain loss monitoring system as standard equipment.
- August 2023: Swaraj Tractors launched the Swaraj 8200 Wheel Harvester a tractor with industry-first intelligent features for real-time monitoring and operator support. This fuel-efficient harvester promises superior harvesting capabilities and minimal grain loss
Global Agricultural Harvesting Machinery Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumption and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Increasing Demand For High- Performance Agricultural Harvesting Machinery
4.2.2 Government Support to Enhance Farm Mechanization
4.2.3 Shortage of Labour and Rising Labour Cost
4.3 Market Restraints
4.3.1 High Initial Capital Cost
4.3.2 Inclination of Farmers Towards Traditional Ploughing Methods
4.4 Porters five Force Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 Machinery
5.1.1 Combine Harvester
5.1.2 Forage Harvester
5.1.3 Sugar cane Harvester
5.1.4 Other Harvestors
5.2 Geography
5.2.1 North America
5.2.1.1 United States
5.2.1.2 Canada
5.2.1.3 Mexico
5.2.1.4 Rest of North America
5.2.2 Europe
5.2.2.1 Germany
5.2.2.2 United Kingdom
5.2.2.3 France
5.2.2.4 Russia
5.2.2.5 Spain
5.2.2.6 Rest of Europe
5.2.3 Asia Pacific
5.2.3.1 India
5.2.3.2 China
5.2.3.3 Japan
5.2.3.4 Rest of Asia Pacific
5.2.4 South America
5.2.4.1 Brazil
5.2.4.2 Argentina
5.2.4.3 Rest of South America
5.2.5 Africa
5.2.5.1 South Africa
5.2.5.2 Rest of Africa
6. COMPETITIVE LANDSCAPE
6.1 Most Adopted Strategies
6.2 Mergers & Acquisitions
6.3 Company Profiles
6.3.1 Deere & Company
6.3.2 CNH Industrial
6.3.3 AGCO Corporation
6.3.4 CLAAS KGaA mbH
6.3.5 Mahindra & Mahindra (Tractors)
6.3.6 Jiangsu Changfa Agricultural Equipment Co., Ltd.
6.3.7 Yanmar Co., Ltd.
6.3.8 KUBOTA Corporation
6.3.9 Tractors and Farm Equipment Limited
6.3.10 Bernard Krone Holding GmbH & Co. KG
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Harvesting Equipment Industry Segmentation
Agricultural harvesting equipment encompasses machinery designed for efficient crop collection at maturity. These machines are engineered to harvest a wide range of crops, including grains, fruits, and vegetables. This report covers various types of harvesters, such as self-propelled, tractor-powered combine, and track combine harvesters, which are primarily used in crop harvest management. The Global Agricultural Harvesting Market is segmented by Machinery Type (Combine Harvester, Forage Harvester, Sugarcane Harvester, and Others) and by Geography (North America, Europe, Asia Pacific, South America, and Africa). The report provides market size and forecasts in terms of value in USD for all segments.
| Machinery | |
| Combine Harvester | |
| Forage Harvester | |
| Sugar cane Harvester | |
| Other Harvestors |
| Geography | ||||||||
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Global Agricultural 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 30.17 billion in 2024 and grow at a CAGR of 5.60% to reach USD 39.56 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 30.17 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 28.48 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.
Global Agricultural Harvesting Machinery 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.
Global Agricultural Harvesting Machinery Market Report Snapshots
