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Global Agricultural Harvesting Machinery Market Size (2024 - 2029)

The market size for agricultural harvesting machinery is experiencing growth driven by factors such as a shortage of farm labor, technological advancements, and supportive government subsidy policies in developing regions. However, the market expansion is somewhat hindered by the high initial investment required and a preference among some farmers for traditional plowing methods.

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Market Size of Global Agricultural Harvesting Machinery Industry

Agricultural Harvesting Machinery Market Summary
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

Harvesting Equipment Market Summary

*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 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
North America
United States
Canada
Mexico
Rest of North America
Europe
Germany
United Kingdom
France
Russia
Spain
Rest of Europe
Asia Pacific
India
China
Japan
Rest of Asia Pacific
South America
Brazil
Argentina
Rest of South America
Africa
South Africa
Rest of Africa
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Global Agricultural Harvesting Machinery Market Size Summary

The global agricultural harvesting machinery market is poised for significant growth, driven by factors such as the acute shortage of farm labor and technological advancements in agricultural machinery. Government-backed subsidy policies in developing economies, like India, are further propelling market expansion by encouraging the adoption of modern farming equipment. Despite challenges such as high initial capital costs and a preference for traditional farming methods among some farmers, the market is witnessing a shift towards advanced harvesting technologies. These innovations include electronic sensing for monitoring harvest loads and cloud-based processing for yield and quality mapping, which are becoming increasingly integral to modern farming practices.

The demand for harvesters is expected to rise as precision farming technologies gain traction, with a notable increase in the import value of technologically advanced harvesters in regions like Europe. The global market is characterized by a mix of international and regional players, with major companies such as Deere & Company, AGCO Corporation, CNH Industrial N.V, and Mahindra & Mahindra Limited leading the charge. These companies are focusing on product innovation to meet diverse customer needs across various regions. Government initiatives, such as India's farm mechanization programs, are further supporting the market by providing subsidies to farmers, thereby enhancing the adoption of harvesting machinery and driving market growth during the forecast period.

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Global Agricultural Harvesting Machinery Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Market Overview

    2. 1.2 Market Drivers

      1. 1.2.1 Increasing Demand For High- Performance Agricultural Harvesting Machinery

      2. 1.2.2 Government Support to Enhance Farm Mechanization

      3. 1.2.3 Shortage of Labour and Rising Labour Cost

    3. 1.3 Market Restraints

      1. 1.3.1 High Initial Capital Cost

      2. 1.3.2 Inclination of Farmers Towards Traditional Ploughing Methods

    4. 1.4 Porters five Force Analysis

      1. 1.4.1 Threat of New Entrants

      2. 1.4.2 Bargaining Power of Buyers/Consumers

      3. 1.4.3 Bargaining Power of Suppliers

      4. 1.4.4 Threat of Substitute Products

      5. 1.4.5 Intensity of Competitive Rivalry

  2. 2. MARKET SEGMENTATION

    1. 2.1 Machinery

      1. 2.1.1 Combine Harvester

      2. 2.1.2 Forage Harvester

      3. 2.1.3 Sugar cane Harvester

      4. 2.1.4 Other Harvestors

    2. 2.2 Geography

      1. 2.2.1 North America

        1. 2.2.1.1 United States

        2. 2.2.1.2 Canada

        3. 2.2.1.3 Mexico

        4. 2.2.1.4 Rest of North America

      2. 2.2.2 Europe

        1. 2.2.2.1 Germany

        2. 2.2.2.2 United Kingdom

        3. 2.2.2.3 France

        4. 2.2.2.4 Russia

        5. 2.2.2.5 Spain

        6. 2.2.2.6 Rest of Europe

      3. 2.2.3 Asia Pacific

        1. 2.2.3.1 India

        2. 2.2.3.2 China

        3. 2.2.3.3 Japan

        4. 2.2.3.4 Rest of Asia Pacific

      4. 2.2.4 South America

        1. 2.2.4.1 Brazil

        2. 2.2.4.2 Argentina

        3. 2.2.4.3 Rest of South America

      5. 2.2.5 Africa

        1. 2.2.5.1 South Africa

        2. 2.2.5.2 Rest of Africa

Global Agricultural Harvesting Machinery Market Size FAQs

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.

In 2024, the Global Agricultural Harvesting Machinery Market size is expected to reach USD 30.17 billion.

Global Agricultural Harvesting Machinery Market Report Snapshots

Harvesting Equipment Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)