Global Harvesters Market Size Likely to Expand at a CAGR of 6.55% By 2033

Global Harvesters Market size was valued at USD 36,495.4 Million in 2024 and is expected to reach USD 70,529 Million by 2033, at a CAGR of 6.55% during the forecast period 2024 – 2033.

Harvesters Market: Overview

Harvesters are essential machines in modern agriculture, designed to automate the labor-intensive process of gathering crops, thereby enhancing productivity and reducing the reliance on manual labor. These machines vary in type to suit different crops, including combine harvesters for grains, forage harvesters for silage, and potato harvesters for root crops.

A significant driver of market growth is technological advancements and automation. Modern harvesters are equipped with advanced GPS systems, sensors, and IoT devices, which improve efficiency and reduce operational costs. The U.S. Department of Agriculture (USDA) notes that precision agriculture technologies, such as advanced harvesters, can boost farm productivity by 10-15%.

As the global demand for food is expected to rise by 70% by 2050, driven by population growth, the need for efficient farming operations is paramount. Government subsidies supporting the adoption of new technologies further stimulate market growth.

The increasing global population and food demand also drive the harvesters market. The United Nations projects the world population to reach 9.7 billion by 2050, with significant growth in Africa and Asia.

This surge necessitates expanded agricultural activities to ensure food security, prompting farmers to invest in high-capacity and efficient harvesting machinery. The Food and Agriculture Organization (FAO) highlights the need for a 1.1 billion-ton increase in cereal production by 2050, emphasizing the role of advanced harvesting equipment.

However, the market faces challenges, such as the high initial investment and maintenance costs of advanced harvesters. The International Food Policy Research Institute (IFPRI) reports that modern combine harvesters can cost between $100,000 and $500,000, a substantial investment for small and medium-sized farms.

Ongoing maintenance and repair costs add to this financial burden, limiting adoption in regions where agriculture is still traditional and small-scale.

Environmental and regulatory challenges also pose obstacles. Increasing regulations aimed at reducing carbon footprints and promoting sustainable farming practices impact the design and operation of agricultural machinery.

The European Union’s Green Deal, for instance, aims to cut greenhouse gas emissions by 50-55% by 2030, necessitating additional investments in sustainable technologies. Compliance with these regulations can be cost-prohibitive for many farmers.

Despite these challenges, significant opportunities exist, particularly in emerging markets. Rapid urbanization and economic growth in regions such as Asia, Africa, and Latin America drive market expansion. Governments in these regions are implementing initiatives to enhance farm productivity and modernize agriculture.

In India, for instance, schemes like the Pradhan Mantri Krishi Sinchayee Yojana (PMKSY) provide subsidies for modern agricultural machinery, boosting the adoption of advanced harvesters.

Innovations in sustainable and eco-friendly harvester technologies also present substantial opportunities. The push for reducing environmental impact has led to the development of electric and hybrid harvesters, which promise lower emissions and operational costs.

The International Renewable Energy Agency (IRENA) suggests that integrating renewable energy solutions in agricultural machinery could reduce emissions by up to 30%. Government incentives and subsidies further encourage the adoption of sustainable practices, aligning with global efforts to combat climate change.

The market is segmented by type into combine harvesters, forage harvesters, and others. Combine harvesters, known for their versatility and efficiency in performing multiple functions like reaping, threshing, and winnowing, held the highest market share in 2023.

These machines are popular for their ability to handle large-scale grain crops such as wheat, corn, and soybeans. Forage harvesters are the fastest-growing segment, driven by the increasing demand for livestock feed and the rising popularity of dairy and meat products. The FAO projects that global meat consumption will increase by over 70% by 2050, necessitating a rise in forage crop production.

Regionally, North America leads the global harvesters market, attributed to its advanced agricultural infrastructure, high adoption rate of precision farming technologies, and significant government support.

The U.S. has been a frontrunner in agricultural innovation, with about 60% of large farms using GPS technology for field mapping and yield monitoring. Canada’s agricultural sector also contributes significantly, with government initiatives supporting sustainable farming practices.

The Asia Pacific region is the fastest growing, driven by rapid population growth, increasing food demand, and substantial government investments in agricultural modernization. Countries like China and India, with large agrarian economies, are at the forefront of this growth.

Policies in China, such as subsidies for high-tech farming equipment and investments in rural infrastructure, have significantly increased the mechanization rate of crop cultivation and harvesting. Similarly, India’s agricultural sector is undergoing a technological transformation supported by government schemes providing financial incentives for adopting advanced machinery.

Report Scope

CMI has comprehensively analyzed Harvesters market. The driving forces, restraints, challenges, opportunities, and key trends have been explained in depth to depict an in-depth scenario of the market. Segment wise market size and market share during the forecast period are duly addressed to portray the probable picture of this US Harvesters industry.

The competitive landscape includes key innovators, after market service providers, market giants as well as niche players which were studied and analyzed extensively concerning their strengths, weaknesses as well as value addition prospects. In addition, the Report covers key players profiling, market shares, mergers and acquisitions, consequent market fragmentation, new trends and dynamics in partnerships, and emerging business models.

List of the prominent players in the Harvesters Market:

• Deere & Company
• CNH Industrial NV
• CLAAS KGaA mbH
• Kubota
• AGCO Corporation
• GRIMME Skandinavien
• KRONE Group
• Rostelmash
• Zoomlion
• Yanmar
• Mahindra & Mahindra
• AGRIFAC Machinery
• SDF Group
• Sampo Rosenlew
• Others

The Harvesters Market is segmented as follows:

By Type

• Combine Harvester
• Forage Harvester
• Trailed Silage Harvester
• Self-propelled Forage Harvester
• Trailed Forage Harvester
• Mounted Forage Harvester
• Mounted Silage Harvester
• Surgarbeet Harvester
• Potato Harvester
• Wine Grape Harvester
• Forage Mowers
• Municipal Mowers

By Sales Channel

• Manufacturers
• Distributors

Regional Coverage:

North America

• U.S.
• Canada
• Mexico
• Rest of North America

Europe

• Germany
• France
• U.K.
• Russia
• Italy
• Spain
• Netherlands
• Rest of Europe

Asia Pacific

• China
• Japan
• India
• New Zealand
• Australia
• South Korea
• Taiwan
• Rest of Asia Pacific

The Middle East & Africa

• Saudi Arabia
• UAE
• Egypt
• Kuwait
• South Africa
• Rest of the Middle East & Africa

Latin America

• Brazil
• Argentina
• Rest of Latin America