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Harvesting is one of the most labour intensive processes in farming industry and it has to be done at apt period so that farmer can obtain maximum produce. Delay in crop harvest can have a negative impact not only on the yield but also on quality of yield. Moreover, usually harvesting is done manually in many developing areas and mainly in small land holdings. Nonetheless, in the recent situation where labour scarcity is increasing, harvesting through mechanical means has become unavoidable. Therefore, the demand for harvesters is increasing at a considerable pace.
The prominent players operating in the market such as John Deere & Company, New Holland Fiat, and others are embarking on the development of new harvesters which will require less fuel compared to other harvesters in the market. Though various harvesters are available in the market, combine harvester has been widely in use from last few decades. The availability of combine harvesters are not spread unvaryingly, thus it needs to be transported to long distance. So, market players can focus on their distribution network to increase their market footprint.
Harvesters are becoming more popular in agriculture machinery due to various benefits offered by the usage of harvesters. For instance, the use of harvesters can help to increase the process speed, due to very fast harvesting process, the field can be accessible to use for the next crop within a short duration of time. Thus, the increasing probability of high production is predicted to increase the sales of harvesters. In addition, the quality of the product is preserved when it is harvest at right stage therefore farmers are inclined towards adoption of harvesters for easy and fast process. Moreover, initiatives taken by several governments to support and increase the adoption of modern agriculture machines amidst farmers is predicted to be a favorable factor for market growth.
Key Market Driver -
Increasing Focus on Precision Farming for Quality Harvest
Key Market Restraint -
High Price of the Product
Small and fragmented land holding in major agri-based countries such as India is expected to restrain the market growth. Moreover, high cost of the some harvesters is expected to further hamper the market growth.
The prominent players operating in the global harvesters market are John Deere & Company, Tractors and Farm Equipment (TAFE) Ltd, Kubota Agricultural Machinery India Pvt Ltd, AGCO Corporation, Mahindra & Mahindra Limited, Precision Planting, Harvest Automation, Trimble, Indo Farm Equipment Ltd, CNH Industrial N.V., and Others.
A combine harvester is predicted to hold prominent share in the global market. The technologies of combine harvesters have potential to transform the way farmer do several processes by using the single machine in a single step. Therefore, the demand for combine harvester is predicted to increase in forthcoming years. During this period of modern farm automation, a multi-crop combine harvester is a very convenient agriculture invention that can harvest and sort various crops right out in the field. Thus, the adoption rate of combine harvesters is predicted to increase at fastest pace. Moreover, combine harvester produce yield that is cleaner as compared to the manual harvesting process, as a result the profitability increases. Hence, farmers are ready to pay for this product.
Asia Pacific is predicted to hold significant share in the global market. Increasing government initiatives for the adoption of modern agriculture equipment is predicted to drive the Asia Pacific harvesters market. For instance, Indian government announced the subsidiary on the purchase of agriculture mechanization. Under this announcement by the Department of Agriculture, Cooperation & Farmers Welfare (ADC&FW) the person can get 40% subsidiary on various agricultural machinery & equipment including combine harvester. The increasing export potential of various crops and rising crop yield within the region are predicted to encourage farmers to invest in agriculture machinery including harvesters.
North America is expected to grow at considerable pace in the global market. The well-established agriculture sector, high adoption rate of advanced agriculture machinery, and easy availability of these machinery within the region are predicted to boost the sale of harvesters. The prominent regional players are embarking on the research and development of the novel harvesters which is predicted to drive the market growth within the region.
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