The Global Market for Harvesting Machinery is Forecast to Reach US$27.2 Billion by 2020

Low Levels of Farm Automation in Developing Markets Fuels Growth in the Harvesting Machinery Market, According to a New Report by Global Industry Analysts, Inc.

                                                                                                

GIA launches comprehensive analysis of industry segments, trends, growth drivers, market share, size and demand forecasts on the global Harvesting Machinery market. The global market for Harvesting Machinery is forecast to reach US$27.2 billion by 2020, driven by the growing population and food demand, focus on yield enhancement, and low levels of farm automation in developing markets.

Harvesting machine is a mechanical device that aids in harvesting of crops by performing farm practices such as plucking, cutting, thrashing and winnowing. Harvesting machinery ranks as the second largest market segment in the global agricultural equipment market, following farm tractors. Against the backdrop of population growth, the need to increase food production through limited arable land is rendering mechanization of farming activities a necessity. Machines, such as harvesters, are considered to be a boon as they enable in multiplying the yield output by saving significant amount of time and effort. Future growth in the market is forecast to come primarily from developing regions of Asia-Pacific, Latin America, and The Middle East, where farm automation still remains unpopular. The untapped market potential offers lucrative growth opportunities for harvesting machines. Other factors driving growth in the market include increase in energy crop cultivation, labor shortages, government subsidies, easy availability of credit, and growing interest in innovative agricultural practices, such as precision farming.

Technological advances in hydraulic cylinders, crop measurement systems, real time data gathering, detection of crop maturity, hands- free steering and contouring, and other innovative intelligent technology concepts are also expected to spur growth in the market. The shift towards biofuel operated harvesting machinery represents a major trend. Given the volatile oil prices and growing environmental concerns over fossil fuel powered machinery, manufacturers are shifting their focus towards developing harvesting machinery that runs on alternative fuels, such as bio-based fuels. Despite the opportunities for growth, the market will continue to face challenges posed by the steady rise in demand for used farm equipment and popularity of the certified pre-owned programs. Once popular in the U.S., certified pre-owned programs are rapidly gathering steam in Europe and other parts of the world.

As stated by the new market research report on Harvesting Machinery, Asia-Pacific represents the largest market worldwide. Buoyed by the towering presence of China and India, the region also ranks as the fastest growing market over the analysis period with projected sales growing at a compounded annual rate of 8.2%.  Key factors driving growth include the pressing need to meet the huge food requirements of the growing population; growing pressure to improve farm productivity; government stimuli encouraging farm mechanization; rising concerns over land degradation and the ensuing focus on machine harvesting in light of benefits offered like reduced risk of soil erosion, increased soil fertility and crop yield.

Key players covered in the report include AGCO Corporation, Alois Pöttinger Maschinenfabrik Ges.m.b.H, Bernard Krone Holding GmbH & Co. KG, CLAAS KGaA mbH, CNH Industrial N.V., Deere & Company (John Deere), Dewulf NV, Foton Lovol International Heavy Industry Co., Ltd., Kubota Corp., Kuhn Group, Lely Group, Preet Agro Industries Pvt. Ltd., Ploeger Agro BV, Rostselmash, SAME Deutz Fahr, and Sampo Rosenlew Ltd, among others.

The research report titled “Harvesting Machinery: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of market trends, drivers, and other strategic industry activities of market participants.  The report provides market estimates and projections for major geographic markets, including the United States, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia, and Rest of Europe), Asia-Pacific (Australia, China, India, South Korea, and Rest of Asia-Pacific), The Middle East & Africa, and Latin America (Brazil, and Rest of Latin America).

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