BIS Research Study Projects the Global Harvesting Equipment Market to Reach $30.11 Billion by 2027

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Aug 02, 2022, 08:00 ET

FREMONT, Calif., Aug. 2, 2022 /PRNewswire/ -- The premium market intelligence study by BIS Research titled Harvesting Equipment Market – A Global and Regional Analysis projects the market to reach $30.11 billion in terms of revenue by 2027, at a CAGR of 5.08%.

The harvesting equipment industry has witnessed an increasing demand from various end-use industries, including agriculture, animal feed, and dairy. Nowadays, agriculture equipment is used in precision farming, fodder harvesting, and mechanized farming practices in developing countries.

The report highlights the key driving and restraining forces for the market as well as the opportunities in different applications across the leading countries.

The detailed study is a compilation of 132 market data tables and 30 figures spread through 213 pages and an in-depth TOC on 'Global Harvesting Equipment Market – Analysis and Forecast, 2022-2027.'

Demand - Drivers and Limitations

Following are the demand drivers for the harvesting equipment market:

Growing demand for maize crop product
Rising demand for harvesters in precision farming
Surging harvester use in forage industry

The market is expected to face some limitations as well due to the following challenges:

High initial investment
Lack of technical knowledge about advanced farming equipment in developing countries
Limited availability of after-sales services

Analyst's Take on the Market:

According to Rakhi Tanwar, Principal Analyst, BIS Research, "Harvesting equipment has huge potential in the near future, as it is used by farmers, animal feed producers, and dairy farmers. Through a better adoption of such agriculture equipment in precision farming, the consumers' demand for harvesting equipment will increase during 2022-2027."

View the report on Global Harvesting Equipment Market

Recent Developments in Global Harvesting Equipment Market

In March 2022, Deere & Company updated its S-Series combine harvesters as per consumer demand. Due to this, the company creates awareness among the farmers and drives sales growth globally.
In May 2021, Mahindra & Mahindra Ltd. established a new production plant for farm equipment in Pithampur, India. This plant produces rice transplanters, potato planters, and harvesters. The company has a strong presence in Asian markets. Due to this investment, the company would increase its harvester production in the Asian market.
In September 2021, CNH Industrial N.V. launched Case IH Axial-Flow 4000 combine harvester in Africa and the Middle East region. Due to this product launch, CNH Industrial N.V. entered Africa and the Middle East market.

Reasons to Buy this Report

This exclusive report on the harvesting equipment market will help in the following ways:

Extensive competitive benchmarking of the top 15 players in agriculture equipment segment
Market sizing for volume and value market
Investment landscape including product adoption scenario, funding, and patent analysis

Who Should Buy This Report?

The companies that manufacture and commercialize harvesting equipment, as well as tractor manufacturers, animal feed producers, dairy farms, forage producers, silage manufacturers, research institutions, and agricultural regulatory bodies.

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Global Farm Equipment Rental Market

About BIS Research:

BIS Research is a global B2B market intelligence and advisory firm focusing on deep technology and related emerging trends which can disrupt the market dynamics in the near future. We publish more than 200 market intelligence studies annually that focus on several deep technology verticals.

Our strategic market analysis emphasizes on market estimations, technology analysis, emerging high-growth applications, deeply segmented granular country-level market data, and other important market parameters useful in the strategic decision-making for senior management.

BIS Research offers syndicate as well as custom studies and expert consultations to firms, providing them specific and actionable insights on novel technology markets, business models, and competitive landscape.

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