Global Harvesting Machinery Market Overview
As per MRFR analysis, the Harvesting Machinery Market Size was estimated at 42.2 (USD Billion) in 2022.
The Harvesting Machinery Market Industry is expected to grow from 43.65(USD Billion) in 2023 to 59.1 (USD Billion) by 2032. The Harvesting Machinery Market CAGR (growth rate) is expected to be around 3.43% during the forecast period (2024 - 2032).
Key Harvesting Machinery Market Trends Highlighted
The Harvesting Machinery Market is poised for continued growth, driven by increasing crop production and technological advancements. Key market drivers include rising demand for agricultural products, agriculture modernization efforts, and government subsidies.
Opportunities in the market stem from growing adoption of precision farming techniques, automation, and the integration of IoT and data analytics. Trends in recent times have witnessed increasing demand for multifunctional and versatile harvesting machinery, as well as the emergence of sustainable and eco-friendly solutions. To capitalize on these opportunities, market players are focusing on developing innovative products that meet the evolving needs of farmers, such as machines with improved efficiency, precision, and environmental sustainability.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Harvesting Machinery Market Drivers
Technological Advancements Driving Efficiency and Productivity
The advancement in technology is a continuous process constantly revolutionizing the agricultural industry including the harvesting machinery market. The growing adoption of precision farming techniques, automation along with the use of data analytics is driving the demand for more efficient and productive combines. For example, the GPS-guided combine allows to carry the harvesting process with precision and save costs of crop losses. In such a way, such combines make it possible to gain more harvest leading to increased yields.Moreover, the use of sensors and IoT devices can allow the farmer to constantly remain aware of the process of harvesting enabling to implement changes in order to safeguard or increase the productivity. Overall, the mentioned trends in technology are expected to enhance the growth of the harvesting machinery market worldwide.
Increasing Demand for Sustainable Farming Practices
Harvesting machines that are increasingly in demand are the ones that have a lower ecological impact. Thus, future growth is likely to be linked to the development of machinery and equipment that are designed to prevent further degradation of the environment. Farming equipment’s capacity to guarantee lower soil compaction, psychotropic levels of water consumption and retention, and GHG emission will become especially in demand as more farmers and landholders become concerned with protecting the environment.Thus, machinery designed specifically for low-till or not-till practices, as well as the machines responding to consumer demand and increasingly strict environmental regulations are bound to register growth and maintain a steady demand.
Expansion of Agricultural Land and Crop Production
The global population is projected to continue to grow in the coming years, increasing the demand for food and agricultural products. This, in turn, is driving the expansion of agricultural land and crop production, which is creating a greater need for harvesting machinery. Developing countries, in particular, are experiencing significant growth in their agricultural sectors, leading to increased demand for harvesting equipment. Additionally, the shift towards large-scale farming operations is further contributing to the demand for high-capacity and efficient harvesting machinery.
Harvesting Machinery Market Segment Insights
Harvesting Machinery Market Type Insights
The Harvesting Machinery Market is segmented according to type of machinery and includes such segments as combine harvesters, cotton pickers, forage harvesters, grain headers, and combine header attachments. The combine harvesters segment as the largest one in the harvesting machinery market in 2023, which took over 40% of the Harvesting Machinery Market revenue. This segment is expected to be the largest one throughout the forecast period since the increased requisition for them is reported among farmers worldwide. Another noteworthy segment is the cotton pickers one, while the increased demand for cotton from the textile industry leads to the accelerated growth of the cotton pickers segment too.The forage harvesters and even grain headers segment is anticipated to grow, as farmers are required to provide food for the rapidly increasing livestock and to harvest and use forage and grain, while the combine header attachments segment remains the smallest segment and demonstrates the slowest rate of growth. The Harvesting Machinery Market is expected to grow at 3.2% during the forecast period and is driven by the increasing demand for food and the willingness to boost the efficiency of harvest operations. The Harvesting Machinery Market is expected to reach $59.1 billion by 2032.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Harvesting Machinery Market Crop Type Insights
The Harvesting Machinery Market segmentation by Crop Type was made into Cereals, Oilseeds, Legumes, Cotton, Forage Crops, and Horticultural Crops. The Cereals segment dominates the market and is expected to be greater than 40% of the Harvesting Machinery Market revenue in 2023. High demand for Cereals is associated with the growing demand for such grains as wheat, rice, and corn. The Oilseeds, including soybeans and rapeseed, are the second largest segment, while Legumes becomes the third, The share of the Cotton harvesting machinery segment is anticipated to grow in the future too due to the increasing demand for cotton fiber.The Forage Crops and Horticultural Crops harvesting machinery segments are not the biggest with regards to their share in the market, but are growing at a stable rate. The main reason for it is growing demand for livestock feed and fresh farm produce.
Harvesting Machinery Market Drive Type Insights
The Harvesting Machinery Market is segmented by Drive Type into Conventional, Hybrid, and Electric. The Conventional drive type segment is projected to hold a dominant share of the market in 2023, owing to its lower cost and widespread availability. However, the Hybrid and Electric segments are expected to witness significant growth over the forecast period, driven by increasing demand for fuel-efficient and environmentally friendly solutions. The Hybrid segment is anticipated to account for a significant share of the market by 2032, as it offers a balance between fuel efficiency and cost-effectiveness.The Electric segment is expected to gain traction in the coming years, driven by government regulations promoting zero-emission vehicles and advancements in battery technology.
Harvesting Machinery Market Harvesting Technology Insights
The Harvesting Technology segment of the Harvesting Machinery Market is expected to reach a value of USD 12.6 billion by 2024, exhibiting a CAGR of 4.3% during the forecast period. The growth of this segment is primarily driven by the increasing demand for efficient and productive harvesting machinery. Auger harvesters are expected to hold a significant market share due to their ability to harvest crops in various conditions. Cylinder harvesters are gaining popularity due to their high efficiency and ability to handle large volumes of crops.Belt harvesters are preferred for their gentle handling of crops, while reel harvesters are suitable for harvesting crops with tangled stems. Pick-up headers are widely used for harvesting crops that are close to the ground. The Harvesting Machinery Market segmentation provides valuable insights into the performance of different segments and their contribution to the overall market growth. This data aids manufacturers in making informed decisions regarding product development and marketing strategies.
Harvesting Machinery Market Regional Insights
The Harvesting Machinery Market is anticipated to grow significantly over the forecast period. Regionally, the market is segmented into North America, Europe, APAC, South America, and MEA. North America held the largest market share in 2023, owing to increasing mechanization in the agricultural sector and the presence of major manufacturers. The Asia Pacific region is projected to witness the fastest growth over the forecast period, attributed to rising demand for agricultural products and government initiatives promoting agricultural mechanization.Europe is another key market for harvesting machinery, with a strong presence of advanced agricultural practices and a favorable regulatory environment. South America and MEA are expected to experience steady growth due to increasing agricultural output and government support for agricultural development.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Harvesting Machinery Market Key Players And Competitive Insights
Major players in the Harvesting Machinery Market industry are constantly striving to gain a competitive edge by introducing innovative products and technologies. Leading Harvesting Machinery Market players are focusing on developing advanced machinery that can meet the growing demand for efficient and sustainable harvesting solutions. The Harvesting Machinery Market industry is characterized by intense competition, with key players vying for market share through strategic partnerships, mergers and acquisitions, and technological advancements. To stay ahead in the competitive landscape, companies are investing heavily in research and development to enhance the capabilities of their machinery and meet the evolving needs of farmers worldwide.AGCO Corporation is a leading manufacturer of agricultural machinery, including harvesting equipment. The company offers a wide range of combine harvesters, forage harvesters, and other specialized harvesting machinery designed to meet the needs of farmers around the world. AGCO's commitment to innovation and customer satisfaction has earned it a strong reputation in the Harvesting Machinery Market industry. The company's products are known for their reliability, durability, and efficiency, helping farmers to maximize their productivity and profitability. AGCO has a global presence with manufacturing facilities and distribution networks spread across multiple countries. It is actively involved in research and development to continuously improve its machinery and meet the changing demands of the agricultural industry.John Deere is another prominent player in the Harvesting Machinery Market industry. The company has a long history of innovation in the agricultural sector and is known for its high-quality harvesting equipment. John Deere's combine harvesters, forage harvesters, and other harvesting machinery are designed to provide farmers with efficient and reliable solutions for their harvesting needs. The company emphasizes precision agriculture and offers advanced technologies such as GPS guidance and yield monitoring systems to help farmers optimize their operations. John Deere has a strong global presence and is committed to providing farmers with the tools and support they need to succeed in a competitive agricultural environment. The company's extensive dealer network and customer support ensure that farmers have access to the necessary parts, service, and advice to keep their harvesting machinery operating at peak performance.
Key Companies in the Harvesting Machinery Market Include
- Deere Company
- AGCO
- Yanmar Co., Ltd
- Grimme Landmaschinenfabrik GmbH KG
- Amazone Landtechnik GmbH KG
- Bucher Industries AG
- ISEKI , Ltd
- Kubota Corporation
- Mahindra Mahindra Ltd
- Claas
- Rostselmash
- CNH Industrial
- Laverda S.p.A.
Harvesting Machinery Market Industry Developments
The Harvesting Machinery Market is projected to reach USD 59.1 billion by 2032, exhibiting a CAGR of 3.43% during the forecast period (2024-2032). Growing demand for agricultural products, increasing mechanization in farming practices, and government initiatives to promote sustainable agriculture are key factors driving market growth.Recent news developments include the launch of new harvesting machinery with advanced technologies, such as GPS guidance systems and yield monitoring sensors. These technologies are improving efficiency and productivity in harvesting operations. Additionally, strategic partnerships and acquisitions among key players are shaping the market landscape. For instance, in 2023, AGCO Corporation acquired Precision Planting, a leading provider of precision agriculture technology, to enhance its product offerings.
Harvesting Machinery Market Segmentation Insights
- Harvesting Machinery Market Type Outlook
- Combine Harvesters
- Cotton Pickers
- Forage Harvesters
- Grain Headers
- Combine Header Attachments
- Harvesting Machinery Market Crop Type Outlook
- Cereals
- Oilseeds
- Legumes
- Cotton
- Forage Crops
- Horticultural Crops
- Harvesting Machinery Market Drive Type Outlook
- Conventional
- Hybrid
- Electric
- Harvesting Machinery Market Harvesting Technology Outlook
- Auger
- Cylinder
- Belt
- Reel
- Pick-Up Header
| Report Attribute/Metric |
Details |
| Market Size 2022 |
42.2(USD Billion) |
| Market Size 2023 |
43.65(USD Billion) |
| Market Size 2032 |
59.1(USD Billion) |
| Compound Annual Growth Rate (CAGR) |
3.43% (2024 - 2032) |
| Report Coverage |
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Base Year |
2023 |
| Market Forecast Period |
2024 - 2032 |
| Historical Data |
2019 - 2023 |
| Market Forecast Units |
USD Billion |
| Key Companies Profiled |
Deere Company ,AGCO ,Yanmar Co., Ltd ,Grimme Landmaschinenfabrik GmbH Co. KG ,Amazone Landtechnik GmbH Co. KG ,Bucher Industries AG ,ISEKI Co., Ltd ,Kubota Corporation ,Mahindra Mahindra Ltd ,Claas ,Rostselmash ,CNH Industrial ,Laverda S.p.A. |
| Segments Covered |
Type ,Crop Type ,Drive Type ,Harvesting Technology ,Regional |
| Key Market Opportunities |
Increasing demand for highyield crops Technological advancements Rising adoption of precision farming Expansion into emerging markets Growing awareness of sustainability |
| Key Market Dynamics |
Growing demand for agricultural produce Technological advancements in harvesting techniques Government support for agricultural mechanization Rising labor costs in the agricultural sector Increasing adoption of precision farming and automation |
| Countries Covered |
North America, Europe, APAC, South America, MEA |
Frequently Asked Questions (FAQ) :
The Harvesting Machinery Market is expected to reach a valuation of USD 43.65 billion in 2023 and is projected to grow at a CAGR of 3.43% from 2023 to 2032, reaching USD 59.1 billion by 2032.
North America currently holds the largest market share in the Harvesting Machinery Market, accounting for over 30% of the total market revenue in 2023. The region's well-developed agricultural sector and high adoption of advanced technologies contribute to its dominance.
Harvesting machinery finds applications in various agricultural operations, including harvesting grains, oilseeds, fruits, vegetables, and specialty crops. These machines play a crucial role in maximizing crop yield, reducing labor costs, and improving the overall efficiency of agricultural processes.
Major players in the Harvesting Machinery Market include AGCO Corporation, CNH Industrial, Deere Company, Claas KGaA mbH, and Kubota Corporation. These companies offer a wide range of harvesting solutions, including combines, forage harvesters, and specialty crop harvesters.
The growing demand for food production, coupled with the need to increase agricultural productivity and efficiency, is driving the growth of the Harvesting Machinery Market. Additionally, government initiatives to support agricultural mechanization and the adoption of precision farming technologies further contribute to market expansion
The harvesting machinery market faces challenges such as price volatility of raw materials, fluctuations in agricultural commodity prices, and the impact of climate change on crop yields. Moreover, the availability of skilled labor and the high cost of machinery can also pose challenges for market growth.
Technological advancements in harvesting machinery include the integration of sensors, GPS guidance systems, and data analytics to optimize harvesting processes. Automation and the adoption of precision farming techniques also enhance efficiency and precision. Additionally, the development of self-propelled harvesters and the use of AI-powered solutions are gaining traction in the market.
The Harvesting Machinery Market is expected to witness a growing demand for sustainable and eco-friendly solutions. The adoption of electric and hybrid harvesting machinery, along with the integration of renewable energy sources, is likely to gain traction. Furthermore, the increasing focus on precision farming and smart agriculture practices is anticipated to drive the demand for advanced harvesting machinery.
Emerging markets, particularly in Asia-Pacific and South America, present significant growth opportunities for the Harvesting Machinery Market. The increasing mechanization of agricultural practices and the rising demand for food production in these regions offer promising avenues for market expansion.
Key players in the Harvesting Machinery Market are focused on expanding their product offerings, investing in research and development, and strengthening their distribution networks. Strategic partnerships, acquisitions, and joint ventures are common strategies to enhance market presence and gain competitive advantage.
