Agricultural Labor Shortages & the Ensuing Focus on Filling the Worker Supply Gap with Machines to Spur Opportunities for Harvesting Machinery
The acute pain of agricultural labor shortages made more intense against a backdrop of growing population and food demand, urgent need for arable land expansion and farm productivity improvements to achieve food security goals are poised to drive the global market for Harvesting Machinery to reach US$36.9 billion by 2024 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...