Agricultural Harvester Market to Accelerate at a CAGR of almost 8% during 2021-2025 | Farm Labor Shortage in the Agriculture Sector to Boost Growth | Technavio

"One of the primary growth drivers for this market is the farm labor shortage in the agriculture sector," says a senior analyst for the industrials industry at Technavio. The vendors should focus on growth prospects in the fast-growing segments while maintaining their positions in the slow-growing segments. As the markets recover, Technavio expects the agricultural harvester market size to grow by USD 17.83 billion during the period 2021-2025.

Agricultural Harvester Market Segment Highlights for 2020

• The agricultural harvester market is expected to post a year-over-year growth rate of 6.75%.
• Based on the product, combine harvesters saw maximum growth in 2020. The growth of the segment is driven by government initiatives to support harvesting mechanization.
• The market growth of the segment will be significant during the forecast period.

Regional Analysis

• 33% of the growth will originate from the Europe region.
• The benefits of technological advancements in agricultural harvesters will offer immense growth opportunities in the Europe region during the forecast period.
• Germany, France, and the UK are the key markets for agricultural harvesters in Europe.

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Notes:

• The agricultural harvester market size is expected to accelerate at a CAGR of almost 8% during the forecast period.
• The agricultural harvester market is segmented by product (Combine harvesters and Forage harvesters) and geography (Europe, North America, APAC, South America, and MEA).
• The market is fragmented due to the presence of many established vendors holding significant market share.
• The research report offers information on several market vendors, including AGCO Corp., Bernard KRONE Holding SE & Co. KG, CLAAS KGaA mbH, CNH Industrial NV, Deere & Co., Kubota Corp., Mahindra & Mahindra Ltd., PREET Group, Tractors and Farm Equipment Ltd., and Yanmar Holdings Co. Ltd.

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Report Link: https://www.technavio.com/report/agricultural-harvester-market-industry-analysis

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