Harvester Market Is Expected To Reach USD 58.41 Billion By 2030


 San Francisco, 18 Oct 2024: The Report Harvester Market Size, Share & Trends Analysis Report By Type (Forage, Combine, Sugarcane, Potato), By Automation Level (Automatic, Manual, Semi-Automatic), By Propulsion Type (ICE, Electric), By Region, And Segment Forecasts, 2024 - 2030

The global harvester market size to reach at USD 58.41 billion by 2030 and is projected to grow at a CAGR of 7.5% from 2024 to 2030. Increasing mechanization in agriculture, the rising demand for food, and technological advancements in harvesting equipment are driving the demand for harvesters across the globe. Furthermore, governments across the globe are recognizing the importance of modernizing agriculture and offering financial incentives, subsidies, and low-interest loans to farmers for purchasing advanced harvesting equipment. These initiatives are encouraging the adoption of harvesters, particularly in emerging economies.

The rapid advancements in technology are making harvesters more efficient, reliable, and cost-effective. Innovations such as AI, machine learning, robotics, and IoT are being integrated into harvesting equipment, enhancing their capabilities and driving market growth. Precision agriculture has become a dominant trend in modern farming, and harvesters are equipped with GPS. Sensors and IoT technology are capable of mapping fields, monitoring crop health, and optimizing the harvesting process. These innovations not only improve efficiency but also reduce waste and environmental impact.

As concerns about climate change and environmental sustainability grow, there is a rising demand for eco-friendly harvesting solutions. Manufacturers are focusing on reducing the carbon footprint of harvesters by developing energy-efficient machines and exploring alternative power sources such as electric and hybrid engines. For instance, in January 2024, Caterpillar Inc. announced the prototype demonstration project for a 600V battery-powered electric field elevator for nut harvesting equipment. The company is developing prototypes in collaboration with Flory Industries, a nut-harvesting equipment manufacturer, and Holt of California, a dealer of Caterpillar.

Access Research Report of Harvester Market @ https://www.grandviewresearch.com/industry-analysis/harvester-market-report

Technology plays a crucial role in the evolution of the agriculture harvester market. AI is revolutionizing the agriculture harvester market by enabling machines to learn from data, make decisions, and optimize harvesting processes. AI-powered harvesters can analyze field conditions, predict the best time to harvest, and adjust their operations in real-time to maximize yield and minimize losses. Furthermore, robotic technology is increasingly being integrated into harvesters, allowing for more precise and efficient harvesting.

There is a growing awareness of the need for sustainable farming practices to protect the environment and ensure long-term food security. Harvesters that support sustainable farming by reducing waste, conserving energy, and minimizing soil degradation are in high demand. The expansion of large-scale farming operations, particularly in regions like North America, Europe, and Part of Asia, is driving the demand for high-capacity harvesters. Large farms require efficient and powerful harvesting equipment to manage vast areas of crops, propelling the demand for advanced harvesters in the market.

Recent Developments

  • In January 2024, CNH Industrial N.V. announced investment of around USD 167 million (EUR 150 million) for expanding its production facility and R&D capabilities at the New Holland Harvesting Center of Excellence located in Belgium. Through the investment, the company redesigned the assembly line and logistics area to streamline the manufacturing of CR11.
  • In August 2023, Swaraj Tractors, a brand of Mahindra&Mahindra Ltd. launched the Swaraj 8200 Wheel Harvester. The harvester featured an intelligent system including live location tracking, fuel consumption, distance traveled, and acres harvested.

Key Harvester Company Insights

Some key market companies  include AGCO Corporation, CLAAS KGaA mbH, CNH Industrial N.V., Dasmesh Group, Deere & Company, KUBOTA Corporation, Linttas Electric Company, Mahindra&Mahindra Ltd., SDF, and Caterpillar Inc.

  • AGCO Corporation is engaged in designing, manufacturing, and distributing agricultural tractors and replacement parts worldwide. The company offered products under North America's Gleaner and AGCO Allis brands. It currently offers its agricultural tractors under the following brand names: Challenger, Fendt, Massey Ferguson, and Valtra. The company focuses on product innovation and invests in the research & development of High Horsepower (HHP) tractors and advanced harvesting technology platforms. AGCO Corporation offers its products through a network of approximately 3,275 independent distributors and dealers across 140 countries.

Erisha Agritech Private Limited and Linttas Electric Company are some emerging companies in the target market.

  • Linttas Electric Company is a South Australia-based company focused on developing electric-powered combine harvesters. By offering electric harvesters the company aligns with the global trend towards more sustainable farming practices, which is gaining traction among environmentally conscious farmers and large agricultural enterprises.

Key Harvester Companies:

The following are the leading companies in the harvester market. These companies collectively hold the largest market share and dictate industry trends.

  • AGCO Corporation
  • CLAAS KGaA mbH
  • CNH Industrial N.V.
  • Dasmesh Group
  • Deere & Company
  • KUBOTA Corporation
  • Linttas Electric Company.
  • Mahindra&Mahindra Ltd.
  • SDF
  • Caterpillar Inc.

About Grand View Research

Grand View Research is an India & U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services.

For More Information: https://www.grandviewresearch.com/horizon

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