Global Harvesting Equipment Market Outlook
Revenue, 2023
$34.2B
Forecast, 2033
$55.2B
CAGR, 2024 - 2033
4.9%
The Harvesting Equipment industry revenue is expected to be around $37.6 billion in 2024 and expected to showcase growth with 4.9% CAGR between 2024 and 2033.
These devices greatly boost efficiency. Lessen the reliance of labor force in farming activities of all sizes. From big operations to small ones alike They have become essential due to the increasing worldwide need for food supplies as well as the progress, in agricultural machinery technology and government initiatives that encourage mechanization.
Market Key Insights
- The Harvesting Equipment market is projected to grow from $34.2 billion in 2023 to $55.2 billion in 2033. This represents a CAGR of 4.9%, reflecting rising demand across Crops, Fruits and Vegetables.
- John Deere, CLAAS, Kubota are among the leading players in this market, shaping its competitive landscape.
- U.S. and China are the top markets within the Harvesting Equipment market and are expected to observe the growth CAGR of 3.4% to 4.5% between 2023 and 2030.
- Emerging markets including Vietnam, Kenya and Indonesia are expected to observe highest growth with CAGR ranging between 5.4% to 6.9%.
- Transition like Shift Towards Precision Farming has greater influence in United States and China market's value chain; and is expected to add $2 billion of additional value to Harvesting Equipment industry revenue by 2030.
- The Harvesting Equipment market is set to add $21.0 billion between 2023 and 2033, with manufacturer targeting Fruits & Vegetables Application projected to gain a larger market share.
- With Rising global food demand, and Labor shortages in agriculture, Harvesting Equipment market to expand 61% between 2023 and 2033.
Opportunities in the Harvesting Equipment
The emergence of harvesters integrated with sensors and automated functionalities offers a bright prospect, for extensive farming enterprises.
Growth Opportunities in North America and Asia-Pacific
In North America the Harvest Equipment market thrives thanks to the regions farming techniques and extensive agricultural activities led by industry giants such, as John Deere and CNHI who excel in producing top of the line machinery known for its effectiveness and robustness.
The Asia-Pacific region is witnessing rapid growth due to increasing mechanization and government subsidies for agricultural modernization. Key contributors to the market include India, China, and Vietnam, which are focusing on scaling up agricultural productivity
Market Dynamics and Supply Chain
01
Driver: Rising Global Food Demand, and Technological Advancements
As the world population continues to rise at a pace there is also an increasing requirement for ensuring food security, which has also led to a higher demand, for effective harvesting methods. The use of harvesting machinery assists farmers in boosting their output and fulfilling the escalating needs of the population. GPS integration and automation have also significantly improved the effectiveness and ease of use of harvesting equipment. This has also led to increased usage, in farming practices of all sizes.
In areas the shrinking number of agricultural workers has also resulted in a rise in mechanization efforts to address this challenge as harvesting equipment lessens the reliance, on manual labor.
02
Restraint: High Initial Investment, and Weather Dependency
The initial investment required to buy harvesting machinery is substantial. Poses a challenge, for small scale farmers who cannot easily afford it. This financial obstacle frequently results in use of these technologies.
Unforeseeable changes in the weather, like droughts or heavy rainfall can disrupt the effectiveness of farming machinery. Impact how widely it is used.
03
Opportunity: Sustainability Initiatives and Adoption in Emerging Markets
The need for machinery that aids in precision agriculture and reduces wastage is in line, with sustainability objectives and is driving the widespread acceptance of modern harvesting technologies.
In developing areas government programs that subsidize farm equipment and encourage mechanization are opening up avenues, for growth.
04
Challenge: Maintenance and Operational Costs
Farmers in developing regions face increased strain due, to the continuous costs of maintaining equipment and vehicles and the expenses related to repairs and fuel consumption.
Supply Chain Landscape
1
Component Supplier
John DeereCLAAS
2
System Integrator
KubotaGrimmePellenc
3
End-User Industry
Agricultural EnterprisesIndividual FarmersCooperativesRental Providers
1
Component Supplier
John DeereCLAAS
2
System Integrator
KubotaGrimmePellenc
3
End-User Industry
Agricultural EnterprisesIndividual FarmersCooperativesRental Providers
Use Cases of Harvesting Equipment in Crops & Fruits
Crops : Harvesters play a role in efficiently gathering grains such as wheat and rice while cutting down the time and labor needed for the process significantly. John Deere and CLAAS are players in this field, with their top performing and high tech machinery dominating the market.
Fruits : Specialized machinery for harvesting fruits like apples and oranges is designed to be precise and gentle to minimize damage during the collection process Companies like Pellenc and Oxbo are, at the forefront of developing this technology
Vegetables : Vegetable harvesting equipment for crops like carrots, potatoes, and onions improves productivity and reduces post-harvest losses. Key providers like Grimme and Kubota focus on delivering efficient and durable solutions for vegetable farming
Others : Forage harvesters and sugarcane harvesters meet agricultural requirements by offering efficient and dependable operations, for specialized farming tasks. CNH Industrial and Mahindra offer customized machinery solutions to serve these segments in the industry.
Recent Developments
Recent advancements in the Harvest Equipment sector encompass the offerings from John Deere and Kubotas specialized vegetable harvesting machines alongside Grimmes state of the art precision tools. Showcasing a wave of innovation and broader utility, in the industry.
October 2024 : John Deere introduced a self driving combine harvester equipped with cutting edge GPS features.
July 2024 : A new vegetable harvesting machine, for medium sized farms was unveiled by Kubota.
March 2024 : In regions Grimme introduced a specialized sugarcane harvester with precision capabilities.
Impact of Industry Transitions on the Harvesting Equipment Market
As a core segment of the Agriculture & forestry Machinery industry,
the Harvesting Equipment market develops in line with broader industry shifts.
Over recent years, transitions such as Shift Towards Precision Farming and Focus on Automation have redefined priorities
across the Agriculture & forestry Machinery sector,
influencing how the Harvesting Equipment market evolves in terms of demand, applications and competitive dynamics.
These transitions highlight the structural changes shaping long-term growth opportunities.
01
Shift Towards Precision Farming
The use of GPS and IoT technologies, in farming equipment enhances data driven and effective methods. This industry transition is expected to add $2 billion in the industry revenue between 2023 and 2030.
02
Focus on Automation
The emergence of self operating harvesting machinery is revolutionizing farming methods by minimizing the need, for human involvement.