About the Agricultural Harvester Market
The market is driven by a number of factors, with the shrinking labor force being one of the most important triggers. As a result of the shrinking labor force, farmers have to bear the significant business loss, especially at the time of harvesting and are investing in harvesters, which allow for highly efficient farming. An increase in government support and improved features in agricultural harvesters will also help the market grow over the next five years.
Technavio’s analysts forecast the global agricultural harvester market to grow at a CAGR of 7.33% during the period 2016-2020.
Covered in this report
The report covers the present scenario and the growth prospects of the global agricultural harvester market for 2016-2020. To calculate the market size, we have considered the total units (volume) of new harvesters sold across the globe in 2015. In addition, we have also covered the market size in terms of revenue.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Agricultural Harvester Market 2016-2020
Technavio recognizes the following companies as the key players in the global agricultural harvester market: AGCO Corp., Bernard Krone, CLAAS, CNH Industrial, and Deere & Co.
Other Prominent Vendors in the market are: Alois Pottinger Maschinenfabrik Ges.m.b.H, Dewulf, Foton Lovol International Heavy Industry, Kubota, Kuhn Group, Lely Group, Ploeger Agro, Preet Agro Industries, SAME Deutz-Fahr, and Sampo Rosenlew.
Commenting on the report, an analyst from Technavio’s team said: “One trend that will propel market growth is the preference for machines with high capacity and power. Advances in agriculture technology have empowered farmers to achieve more yield per acre. Vendors are manufacturing harvesters with capacities that match the growing yields, thereby increasing overall efficiency. For instance, the CR 10.90 New Holland claims to have the highest capacity combine and is capable of unloading 600 tons of wheat into a barn in one day, which increases productivity by 15%.”
According to the report, a key growth driver is the shrinking labor force. Farmers across the world are pressed with issues related to the shrinking labor force. For instance, Thailand, which traditionally was an agrarian country, has now transformed into a more industrialized country, and its agricultural labor is quickly shifting to the services sector. In December 2013, out of the country's total population in the labor force, about 42% of the population was in the agricultural sector. By September 2015, only 34% of the total population in the labor force was estimated to be in the agricultural sector.
Further, the report states that one challenge that could hamper market growth is the growing market for rented or pre-owned harvesters.
AGCO Corp., Bernard Krone, CLAAS, CNH Industrial, Deere & Co, Alois Pottinger Maschinenfabrik Ges.m.b.H, Dewulf, Foton Lovol International Heavy Industry, Kubota, Kuhn Group, Lely Group, Ploeger Agro, Preet Agro Industries, SAME Deutz-Fahr, Sampo Rosenlew.
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