Global Agricultural Harvester Market 2019-2023 | 8% CAGR Projection over the Next Five Years | Technavio

The global agricultural harvester market is expected to post a CAGR of about 8% during the period 2019-2023, according to the latest market research report by Technavio.

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A key factor driving the growth of the global agricultural harvester market is the growing awareness of the advantages of agricultural harvesters and technological advancements in agricultural machinery. Farmers increasingly prefer using agricultural harvesters, including forage harvesters and combine harvesters to avoid crop wastage and improve efficiency. These harvesters can often combine three separate operations, including harvesting, threshing, and winnowing in a single process while reducing labor cost and time. Furthermore, the growing demand for technologically advanced products has also encouraged vendors to offer customized harvesters that ensure maximum yield of high quality through the integration of advanced features. Thus, technological advancements, coupled with the benefits of agricultural harvesters will drive the agricultural harvester market growth during the forecast period.

As per Technavio, the growth in popularity of self-propelled forage harvesters with 3D will have a positive impact on the market and contribute to its growth significantly over the forecast period. This global agricultural harvester market 2019-2023 research report also analyzes other significant trends and market drivers that will affect market growth over 2019-2023.

Global agricultural harvester market: Growth in popularity of self-propelled forage harvesters with 3D

Several agricultural harvester manufacturers are focusing on delivering self-propelled forage harvesters (SPFH) with 3D features to increase the operational efficiency of the equipment while reducing the workload of operators. These self-propelled forage harvesters are equipped with a 3D camera, with Active Fill Control, which reduces the amount of time spent by operators on monitoring the truck filling process. Active Fill Control further includes an additional light-emitting diode (LED) spout light package to ensure steady filling even in darkness and extreme weather conditions.

“Governments in various countries, including the US, India, Brazil, and China, are increasingly emphasizing on the development of the agricultural sector by providing financial support to the farmers. The financial support from the government allows the farmers to purchase agriculture equipment including agricultural harvesters to ensure efficient production of crops and silages of higher quality,” says a senior research analyst at Technavio.

Global agricultural harvester market: Segmentation analysis

This market research report segments the global agricultural harvester market by product (combine harvesters and forage harvesters) and geographic regions (Europe, North America, APAC, South America, and MEA).

Europe led the market in 2018, followed by North America, APAC, South America, and MEA respectively. The market growth in Europe can be attributed to the farm labor shortage and government initiatives for supporting agricultural mechanization. Furthermore, several programs for encouraging young people to become the next generation of European farmers is expected to drive the agricultural harvester market growth during the forecast period.

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Some of the key topics covered in the report include:

Market Landscape

• Market ecosystem
• Market characteristics
• Market segmentation analysis

Market Sizing

• Market definition
• Market size and forecast

Five Forces Analysis

Market Segmentation

Geographical Segmentation

• Regional comparison
• Key leading countries

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

• Vendors covered
• Vendor classification
• Market positioning of vendors
• Competitive scenario

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