Harvester Market to Be Worth $42.51 Billion by 2031 - Exclusive Report by Meticulous Research®

REDDING, Calif., Jan. 15, 2025 /PRNewswire/ -- According to a new market research report titled 'Harvester Market by Type (Combine Harvester, Forage Harvester, Potato Harvester, Reapers), Mode of Operation (Automatic), Propulsion Type (Electric), Power (Below 150 HP), and Crop Type - Global (Analysis, Outlook, Leaders, Report, Trends, Forecast, Segmentation, Growth, Value) Forecast to 2031.

The harvester market is projected to reach $42.51 billion by 2031, at a CAGR of 4.9% during the forecast period 2024–2031.

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A harvester is a machine used in agriculture to collect crops once they are ripe for harvesting. It is a key piece of equipment that helps farmers efficiently gather crops such as wheat, corn, rice, and other grains. The use of harvesters greatly enhances productivity, reduces labor costs, and helps ensure that crops are collected at the optimal time to prevent losses.

The growth of the harvester market is primarily driven by the increasing global demand for food, rising crop production, increasing agricultural mechanization, and the growing adoption of advanced harvesting technologies. However, the high initial investment required for purchasing harvesters may restrain market growth.

Additionally, innovations in smart agriculture and the expansion of emerging markets are expected to create growth opportunities for stakeholders in this sector. However, the shortage of skilled workers to operate advanced harvesters remains a significant challenge to the market's growth. Furthermore, the growing integration of automation and robotics in harvesting equipment, along with the increasing demand for sustainable farming practices, are key trends in the harvester market.

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The harvester market is segmented based on type (combine harvester, forage harvester, sugarbeet harvester, potato harvester, wine grape harvester, reapers, and other harvesters), mode of operation (semi-automatic, harvesters automatic harvesters manual harvesters), propulsion type (non-electric-powered harvesters, electric-powered harvesters), power (Below 150 HP, 150-300 HP, 300-450 HP, Above 450 HP), and crop type (cereals and grains, fruits & vegetables, oilseed & pulses sugarcane other crop types). The report also provides a comprehensive analysis of the harvester market in North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.

Key Findings in the Harvester Market

• By Type: In 2024, the Combine Harvester Segment is Expected to Dominate the Harvester Market
• By Mode of Operation: In 2024, the Semi-automatic Harvester Segment is Expected to Dominate the Harvester Market
• By Propulsion Type: In 2024, the Non-electric-Powered Harvesters Segment is Expected to Dominate the Harvester Market
• By Power: In 2024, the Below 150 HP Segment is Expected to Account for the Largest Share of the Harvester Market
• By Crop Type: In 2024, the Cereals & Grains Segment is Expected to Account for the Largest Share of the Harvester Market
• By Geography: Asia-Pacific Expected to Dominate the Harvester Market in 2024

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Based on type, the combine harvester segment is slated to register the highest CAGR during the forecast period. The growing demand for modern combine harvesters equipped with GPS, sensors, and automation, the integration of combine harvesters with precision farming technologies, and the increasing development of fully autonomous combine harvesters are expected to drive the segment's growth.

Based on mode of operation, the automatic harvester segment is slated to register the highest CAGR during the forecast period. Continuous advancements in automation, robotics, and artificial intelligence, along with the increasing need for higher efficiency and productivity in large-scale farming and the integration of harvesters into smart farming ecosystems, are expected to support this segment's growth.

Based on propulsion type, the electric-powered harvester segment is slated to register the highest CAGR during the forecast period. The increasing focus on sustainability and the rising demand for energy-efficient and environmentally friendly harvesters are expected to fuel this segment's growth.

Based on power, the below 150 HP segment is slated to register the highest CAGR during the forecast period. The benefits offered by 150 HP harvesters, such as cost-effectiveness, low maintenance, optimal power for medium-sized farms, and greater flexibility and adaptability, are expected to drive the growth of this segment.

Based on crop type, the cereals & grains segment is slated to register the highest CAGR during the forecast period. The rising global population and food demand, the need for specialized harvesters to handle various types of cereals and grains, and the increasing popularity of organic cereals and grains are expected to drive the segment's growth.

Based on geography, the market in North America is slated to record the highest CAGR during the forecast period. The growth of this regional market is driven by factors such as the rising demand for advanced agricultural technologies, the widespread adoption of precision farming, the increasing need for high-yield crops, and the growing popularity of electric and hybrid harvesters.

The key players operating in the harvester market are CLAAS KGaA mbH (Germany), CNH Industries N.V. (U.K.), Deere & Company (U.S.), Yanmar Holdings Co., Ltd. (Japan), KUBOTA Corporation (Japan), Tractors and Farm Equipment Limited (India), Mahindra & Mahindra Ltd. (India), AGCO Corporation (U.S.), ISEKI & Co., Ltd. (Japan), SDF S.p.A. (Italy), Harvest Automation, Inc. (U.S.), Preet Group (India), and KZ Rostselmash LLC (Russia).

Harvester Industry Overview: Latest Developments from Key Industry Players

• In December 2023, Swaraj, a division of Mahindra & Mahindra Ltd. (India), launched next-gen Swaraj 8200 smart harvester for Indian farmers. In addition, the company has established a dedicated harvester plant in Pithampur, Madhya Pradesh, India to cater the growing demand for harvesters.
• In November 2022, CLAAS KGaA mbH (Germany) invested USD 46.4 million (EUR 44 million) to increase its combine harvester production at the Harsewinkel site.
• In August 2022, AGCO Corporation (U.S.) launched an 800hp+ forage harvester, Fendt Katana 850, to optimize performance in large crops.
• In August 2022, AGCO Corporation (U.S.) launched the Fendt CORUS 500, a straw walker combine harvester, for flexible use in different crops.
• In July 2022, Mahindra & Mahindra Ltd. (India) acquired Sampo Rosenlew Oy (Finland), a combine harvester manufacturer, to offer a broader product portfolio of harvesters to address the needs of farmers around the world.

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Scope of the Report:

Harvester Market Assessment—by Type

• Combine Harvester
  • Self-propelled Harvester
  • Tractor-pulled Combine Harvester
  • PTO- powered Combine Harvester
• Forage Harvester
  • Trailed Silage Harvester
  • Self-propelled Forage Harvester
  • Trailed Forage Harvester
  • Other Forage Harvesters
• Sugarbeet Harvester
• Potato Harvester
• Wine Grape Harvester
• Reapers and Other Harvesters

Harvester Market Assessment—by Mode of Operation

• Semi-automatic Harvesters
• Automatic Harvesters
• Manual Harvesters

Harvester Market Assessment—by Propulsion Type

• Non-electric-powered Harvesters
• Electric-Powered Harvesters

Harvester Market Assessment—by Power

• Below 150 HP
• 150-300 HP
• 300-450 HP
• Above 450 HP

Harvester Market Assessment—by Crops Type

• Cereals and Grains
  • Maize/corn
  • Wheat
  • Rice
  • Other Cereals & Grains
• Fruits & Vegetables
  • Grapes
  • Apples
  • Citrus Fruits
  • Potato
  • Sugarbeet
  • Other Fruits & vegetables
• Oilseed & Pulses
• Sugarcane
• Other Crop Types

Harvester Market Assessment—by Geography

• North America
• U.S.
• Canada
• Europe
• U.K.
• Germany
• France
• Spain
• Italy
• Netherlands
• Rest of Europe
• Asia-Pacific
• China
• Japan
• India
• South Korea
• Indonesia
• Malaysia
• Rest of Asia-Pacific
• Latin America
• Mexico
• Brazil
• Argentina
• Rest of Latin America
• Middle East & Africa
• UAE
• Saudi Arabia
• South Africa
• Rest of Middle East & Africa

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Harvester Market Research Summary

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