SAN FRANCISCO, Dec. 16, 2019 /PRNewswire/ -- The global harvester market is expected to display higher growth rate over the next five years. Rapid surge in market is credited to the recent technological advancement in agriculture sector and lack of availability of labor in North America and European region. However, presence of ample labor force, cheaper labor costs, and high initial cost of machines is expected to restrain market growth, particularly in Asia Pacific and Africa regions. Globally, market is predicted to generate massive revenue over the next five years, providing numerous opportunities for industry participants to invest in research and development of harvester market.
Upgradation of existing product lines and addition of exclusive features such as telemetry and intelligent sensing technologies is expected to drive large number of customers over the coming years. Development of modern combined harvesters that improves overall agriculture productivity, efficiency and convenience is fostering market demand in the upcoming years. Modern combine harvesters consists of various networking technologies such as GPS and navigation system. These technologies allow farmers to identify the precise location of the machine and conduct harvesting operations with accuracy. However, growing concerns related to noise as well as environmental pollution is compelling farmers and governments to adopt alternative fuel options, thus hampering market growth to a certain extent. Yet, development of fourth-generation (Tier 4) diesel engines with zero emissions is anticipated to offer several revenue options for industry players over the next five years. In addition, rising demand for fuel-efficient machines is driving the manufacturers to invest extensively in the research & development activities.
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The modern combine harvester is manufactured according to crop versatility and to achieve higher efficiency during crop harvest. The modern combine harvester is multipurpose machine that is capable of performing operations such as reaping, threshing, and winnowing. Different types of crops are harvested with help of modern combine harvester such as wheat, oats, rye, barley, corn (maize), sorghum, soybeans, flax (linseed), sunflowers and canola. The harvester market is broadly categorized into four major segments based on the application type such as self-powered harvester, tracked harvester, mini-harvester and tractor-powered harvester. Self-powered harvester segment is growing rapidly in the market with substantial revenue generation in the last few years.
The harvester market is divided by region as North America, Europe, Asia-Pacific, Latin America and Africa. North America has shown major growth in recent years owing to the rise in implementation of latest technologies in agriculture sector, surge in number of research & development activities in the region and existence of well-established agriculture infrastructure. In European region, Germany, France, and United Kingdom are projected to witness steady growth. Asia-Pacific region is estimated to hold a major share in the harvester market with massive growth in forecast period. Countries such as India, China and Singapore are leading the Asia-Pacific market with strong agriculture growth, rising agriculture expenditure by local governments, favourable government initiatives including tax cuts, discounts and subsidies, and significant investment by leading industry players considering potential growth opportunities in the region. The key players in the harvester market are AGCO Corp., The Bernard Krone Holding GmbH & Co., KG, Claas Corp., CNH Industrial N.V., Deere & Co., Kubota, Dewulf, FotonLovol International Heavy Industry Co., Ltd., Lely Group LLC and Ploeger Agro B.V.
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- Geographically, this report is segmented into several key Regions, with production, consumption, revenue (million USD), market share and growth rate of Harvester in these regions, from 2012 to 2023 (forecast), covering
- North America (United States, Canada and Mexico)
- Europe (Germany, France, UK, Russia and Italy)
- Asia-Pacific (China, Japan, Korea, India and Southeast Asia)
- South America (Brazil, Argentina, Columbia)
- Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
- Global Harvester market competition by top manufacturers, with production, price, revenue (value) and market share for each manufacturer; the top players including
- AGCO Corp.
- Bernard Krone
- CNH Industrial
- Deere & Co.
- Foton Lovol International Heavy Industry
- Lely Group
- Ploeger Agro
- On the basis of product, this report displays the production, revenue, price, market share and growth rate of each type, primarily split into
- Walking Type
- Suspension Type
- On the basis on the end users/applications, this report focuses on the status and outlook for major applications/end users, consumption (sales), market share and growth rate of Harvester for each application, including
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