https://www.meticulousresearch.com/product/harvester-market-6076
The global harvester market is set to achieve remarkable growth, projected to reach $42.51 billion by 2031 at a CAGR of 4.9% from 2024 to 2031, as highlighted in a recent report by Meticulous Research®. Key drivers fueling this expansion include increasing global food demand, rising agricultural mechanization, and the growing adoption of advanced harvesting technologies. Innovations in smart agriculture, along with emerging markets, present lucrative opportunities for market players. Additionally, trends such as automation, robotics, and sustainable farming practices are reshaping the industry landscape.
Segment-wise, combine harvesters are expected to dominate the market in 2024 due to their versatility and efficiency in managing various crops. The semi-automatic harvesters segment is also poised for significant growth, driven by affordability and rising rural incomes. Meanwhile, non-electric-powered harvesters are anticipated to lead in propulsion type, given their cost-effectiveness and reliability in large-scale operations. For power categories, the below 150 HP segment will likely hold the largest market share, catering to small and mid-sized farmers. In terms of crop types, cereals and grains dominate, driven by high global demand and the need for adaptable harvesting equipment like modern combine harvesters.
Geographically, Asia-Pacific is forecasted to lead the harvester market, supported by its vast agricultural sector and rising food demand. Factors such as government subsidies, increased agricultural productivity, and modernization efforts are boosting harvester adoption in countries like China, India, and Japan. Other regions, including North America and Europe, also exhibit promising growth, driven by advanced agricultural practices and technology adoption.
