Global Industry Analysts, Inc. - Influencer Driven AI Powered Real-Time Market Intelligence

The global market for Harvesting Machinery is forecast to reach US$36.8 billion by 2024, driven by 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. Other major factors spurring growth in the market include prioritization of agricultural development in several countries; increased government subsidies and availability of credits for advanced agriculture technologies; farm consolidation in developed countries and a parallel rise in demand for large sized agricultural machines and vehicles; growing prominence of climate change adaptation planning in agriculture and the ensuing shift towards biofuel operated harvesting machinery; growing investments and land acreage committed to energy crop cultivation against the backdrop of rising demand for biofuel consumption and stringent fuel blending regulations. The ...

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...