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Harvesting Machinery Market - Global Industry Share, Growth, Trends and Forecast
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Increased demand for rising harvesting machinery in order to improve the efficiency of agricultural purposes is one chief reason responsible for driving the harvesting machinery market. In addition, there is increased pressure on the arable lands due to the rising demand for food grains, which fuels the growth of this market. Moreover, technological advancements in this market such as usage of, global positioning sensors and cameras have lead to creation of automated multitasking machines thereby increasing its demand. One of the major aspect restraining this market is the rising capital investment and large amount of power consumption required for the harvesting machinery. Due to the above factors, the industry is shifting towards manufacturing machines which make use of biobased products such as biofuels which is expected to open new opportunities for the growth of this market.
On account of the increased automation and high labor cost the U.S. is the largest market. In addition, emerging regions such as Asia Pacific and Europe are expected to gain a good position in the harvesting machinery market owing to the low levels of farm mechanization and usage of traditional improficient machinery. Some of the key players in this market include John Deere, AGCO Corp., Sampo Rosenlew Ltd., Preet Agro Industries Pvt. Ltd., Deere & Company, Kubota and Dewulf NV among others.
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