Home > Pressrelease > Harvester Market size worth over $55 Bn by 2030
Harvester Market size worth over $55 Bn by 2030
- Published Date: August 26, 2022
Global Harvester Market is expected to surpass USD 55 billion by 2030, according to a new market report introduced by Global Market Insights Inc.
High labor expenses and the need for faster, more efficient farming techniques are influencing the adoption of agriculture equipment such as harvesters. The average labor cost is rising across Europe and North America.
Harvesters have become one of the most effective and labor-saving developments to reduce the number of people required in farming. The introduction of semi-automated and automated machinery has helped organizations save on workforce and other related costs. These factors will boost the deployment of advanced agriculture equipment in developed countries where there is a shortage of farm workers. The need for harvester hiring services across emerging economies will offer additional growth opportunities for manufacturers.
Increased efficiency to influence the use of sugar beet harvesters
The global sugar beet harvester market share is predicted to witness over 9% CAGR through 2030. The demand for beet sugar has grown at a consistent rate in recent years, with the rising vegan population. According to the U.S. DOA, nearly 55% of all sugar produced in the country comes from sugar beets, indicating a substantial demand for the crop. The sugar beet farming industry is progressively utilizing user-friendly and efficient agriculture equipment, such as harvesters. The machinery offers several benefits, including prevention of soil erosion, easy maneuverability, high capacity, and reduced need for larger space.
Self-propelled forage harvesters to develop different kind of feeds
The report anticipates the self-propelled forage harvester industry revenue to exceed a shipment of 42,000 units by 2030. The product can be used to make feed for different kinds of livestock. Self-propelled forage harvesters will be important to develop an extensive variety of feeds from different crops, such as earlage, haylage, and others. Producers utilize the forage output from these machines, as they provide improved productivity and enhanced feed value.
Browse key industry insights spread across 425 pages with 480 market data tables and 47 figures & charts from the report “Harvester Market Size By Type (Combine Harvester, Forage Harvester [Trailed Silage Harvester, Self-propelled Forage Harvester, Trailed Forage Harvester, Mounted Forage Harvester, Mounted Silage Harvester], Sugar Beet Harvester, Potato Harvester, Wine Grape Harvester, Forage Mowers, Municipal Mowers]), By Sales Channel (Manufacturers, Distributors), COVID-19 Impact Analysis, Regional Outlook, Application Development Potential, Price Trend, Competitive Market Share & Forecast, 2022 – 2030” in detail along with the table of contents
Expanding role of distributor networks in harvester sales
In terms of the sales channel, the harvester market revenue share from the distributors segment valued at USD 6 billion in 2021. One of the major reasons for this is the channel’s ability to help organizations expand their customer base. They are shifting their focus towards the implementation of new technologies, to redefine their work and facilitate the smooth operation of supply chain activities. Manufactures usually maintain long-term and healthy partnerships with regional distributors & authorized dealers, who sell equipment and parts from different companies.
North America to focus on increasing crop yield
North America harvester market held more than 22% of the revenue share in 2021. The demand for these machines will remain strong as the region’s farming sector is expanding with a focus on enhancing the economies of scale and achieve higher yields. According to the Government of Canada, in 2021, the agri-food and agriculture sector generated over USD 104 billion, which accounted for 6.8% of the country’s GDP. These figures suggest a major potential for the espousal of harvesters to improve the average crop yield and meet the rising need for food.
The key players include Agrifac Machinery B.V., CLAAS KGaA mbH, CNH Industrial NV, Deere & Company, Divima SRL, Energreen S.R.L., Frans Vervaet B.V., Gonselmash, GREENTEC SE, Holmer Maschinenbau Gmbh, Imac Srl., KHL Group, KRONE GmbH & Co. KG, Krone Group, New Holland Agriculture, and several others. The companies have varied presence in different regional marketplaces. Harvester manufacturers are seeking mergers & acquisitions as well as partnership deals to strengthen their market position.