Global Agricultural Harvesting Machinery Market - Analysis of Growth, Trends, and Forecast (2018 - 2023)
The global agricultural harvesting market is expected to register a CAGR of 9.2% during the forecast period 2018 - 2023. Europe is expected to cover a major market demand during the forecast period, owing to its increasing orders for agricultural machinery within domestic, as well as international markets.
Harvesting Equipment is expected to See Faster Growth in Europe
The European agricultural machinery industry is one of the developed markets in the world, driven primarily by the presence of a large number of global players, like John Deere, CNH Industrial, AGCO Corporation, etc., in the region. Spain and UK have been consistently seeing growth in the agricultural machinery market since 2015, and anticipated to grow during the forecast period. The European agricultural machinery industry is likely to see growth in the sales of various types of machinery during the forecast period. Among the types of agricultural-machinery harvesting equipment is likely to see more demand, owing to the development of forage crops in the region.
Increasing Precision Farming
Technological innovation and precision farming are some of the areas that can be exploited for future opportunities. Besides a huge scope of development, the major constraints the sector faces are low commodity prices and expensive machinery, resulting in less affordability of machinery from farmers. These factors affect the growth of the agriculture sector, thus affecting the growth of the planting and fertilizing machinery market.
Key Developments in the Market:
June 2017: John Deere planned to introduce advanced grain harvesting machineries for model year 2018 production, which includes four new S700 Combine models that are provided with smart technology by offering comfort and better data management for an operator, along with the 700C/FC Series Corn Heads and 700D Drapers for efficient grain harvesting. May 2017: Case IH, brand of CNH Industrial, 4000 series harvester is popular in Indian market and has achieved highest record breaking performance for harvesting 146 MT sugarcane in 3.5 hours with Austoff 4000 Series sugarcane harvester.
Major Players: DEERE & COMPANY (JOHN DEERE), AGCO CORPORATION, CNH INDUSTRIAL, AND MAHINDRA TRACTORS amongst others.
Reasons to Purchase the Report:
Latest technology trends adopted by the manufacturers in the agricultural harvesting machinery market Analyzing various perspectives of the market with the help of Porter’s Five Forces Analysis Study on the machinery type that is expected to dominate the market Study on the regions and countries that are expected to witness the fastest growth during the forecast period Identify the latest developments, market shares, and strategies employed by the major market players 3-month analyst support, along with the Market Estimate Sheet (in excel)
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