Meticulous Research® has published a report titled Harvester Market—Global Opportunity Analysis and Industry Forecast (2024-2031), projecting the global harvester market to reach $42.51 billion by 2031, growing at a CAGR of 4.9%. This growth is driven by factors such as increasing global food demand, crop production, and agricultural mechanization. The rising adoption of advanced harvesting technologies, innovations in smart agriculture, and automation in harvesting equipment are key contributors to market expansion. Furthermore, there is a growing emphasis on sustainable farming practices, creating new opportunities for market players.
The harvester market is characterized by moderate competition, with several large and small players operating globally. Notable companies include CLAAS KGaA (Germany), Deere & Company (U.S.), CNH Industries (U.K.), Yanmar Holdings (Japan), AGCO Corporation (U.S.), and Mahindra & Mahindra (India), among others.
The market is segmented by type, mode of operation, propulsion type, power, and crop type. Among these, the combine harvester segment is expected to dominate in 2024 due to its versatility and efficiency in harvesting multiple crop types. Additionally, semi-automatic harvesters are anticipated to hold a significant share, driven by affordability and technological advancements. Non-electric-powered harvesters are projected to remain dominant, especially in regions with limited charging infrastructure, offering higher power output and cost-effectiveness.
In terms of crop type, cereals and grains are expected to lead the market, as these crops are widely cultivated, and modern combine harvesters are highly adaptable. Geographically, Asia-Pacific is expected to dominate the market, driven by strong agricultural growth, rising food demand, and government support for agricultural modernization through subsidies and financing.
This research offers a comprehensive analysis of the market, providing valuable insights for stakeholders across the harvester industry.
