According to a recent report by Fact.MR, a market research and competitive intelligence provider, sales of harvester are expected to reach a valuation of US$ 240.61 Billion by 2032, rising at a CAGR of around 22% over the forecast period of 2022 to 2032. Integration of technologically advanced features in harvesters along with growth in demand for food are key factors driving the growth of the market.
Manually operated instruments, animal-operated implements, and mechanic-operated equipment have all grown steadily. The government’s and other institutions’ favourable credit policies for machinery purchases, combined with the potential to increase farm productivity, are driving the market’s growth. Government bodies across the globe are encouraging farmers to implement cutting-edge technology that will increase productivity.
Key Takeaways from the Market Study
- By 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.
- By product, the trailed silage harvester segment is expected to capture 8% revenue share in 2022
- By sales channel, manufacturers are expected to dominate with more than 76% market share in 2022.
- The Europe harvester market size is projected to observe around 4.5% growth through 2032
- Asia Pacific is expected to possess 40% market share for harvester’s market.
- U.S., Canada, India and China will flourish at a CAGR of 67% combined until 2032
“Increasing need for food along with the booming agriculture industry is creating lucrative opportunities for harvesters. Moreover, tech-savvy features integrated in harvesters are making them a commercially viable option.” says a Fact.MR analyst
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
- In December 2021, CNH Industrial NV with its dealer Por tractor delivered its 100th Autosoft sugarcane harvester in Thailand. The machine possesses a superior cleaning system and an elevator.
- In September 2022, John Deere & Company launched new forage harvesters. The harvesters have a torque-rise curve as it has a Harvest Motion plus engine technology.
