Dublin, Feb. 28, 2023 (GLOBE NEWSWIRE) -- The "Harvesting Equipment Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028: Segmented by Products (Combine Harvester, Forage Harvester, Sugarcane Harvester, Others), By Application (Agriculture v/s Fodder), By Region, and Competition" report has been added to ResearchAndMarkets.com's offering.
The Global Harvesting Equipment Market is anticipated to witness an impressive growth during the forecast period, 2022-2028
This can be ascribed to the growing demand for advanced harvesting equipment for better crop production across the region. Similarly, the growing development of research activities in the agricultural field for better crop production with saving time and low cost is expected to create a lucrative during the forecast period.
Additionally, growing investments by major key players in the agriculture fields are expected to drive the market growth across different parts of the globe. Similarly, the increasing preferences towards the usage of harvesting technology to enhance the efficiency of agricultural purposes is further expected to increase the demand for harvesting equipment, thereby fuelling market growth through 2028.
Besides, growing awareness about new harvesting technology and its advantages among farmers across the globe is further expected to support the harvesting equipment market during the forecast period. AGCO Corporation is a leading manufacturer and distributor of agricultural equipment and related replacement parts throughout the world.
Growing awareness about equipment benefits propel the market
The growing demand for food and agricultural commodities enhances the production capacity and yield, which in turn is propelling the growth of the market during the forecast period.
Similarly, farmers are adopting sustainable agriculture practices by using advanced harvesting equipment to fulfill the food propelling the growth of the market during the forecast period. In addition, the increasing demand for agricultural products is expected to increase the need for planting, fertilizing, and harvesting equipment rather than manual equipment over time.
These types of instruments are used because of reducing overall costs and improvement in crop yields. According to USDA data, foreign investors owned at least 35.2 million acres of U.S. agricultural land in 2019 - 2.7 percent of U.S. farmland, an area almost the size of Iowa.
Also, increasing the urbanization rate along with demand for time-saving technology for additional food production in turn is expected to enhance the demand for harvesting equipment market. The employment of agriculture equipment assists in the cultivation of more crop in less time with less effort and increase the production of food, which anticipates to propel the market growth over the years.
Growing technological advancements in the agriculture field boost the market growth
Increasing technological advancement in the agriculture field for developing harvesting equipment along with growing mechanization of different agricultural activities has propelled the development of different modern and automatic agriculture equipment.
Similarly, growing favourable government initiatives are expected to the market growth over the years. In 2019, 49 percent of reported foreign-held acreage in the United States was forest land, while 25 percent was cropland, 24 percent was for pasture and other agricultural uses, and 2 percent was for non-agricultural uses (such as homesteads and roads).
Modern agriculture has undergone a dramatic transformation due to new technological developments in fields like robots, drones, and computer vision software. The main objective of agricultural automation technology is to take care of simple, routine operations. Drones, autonomous tractors, seeding, and mowing are some of the primary technologies that are most frequently used by farms.
Small-scale Potato Harvester, this machine digs potatoes from the soil by separating soil from the roots. It functions on small scale but separates the soil quickly to reduce the problems in harvesting potatoes.
Recent Development
NMSA is envisaged as one of the eight Missions outlined under National Action Plan on Climate Change (NAPCC), NMSA aim at promoting Sustainable Agriculture through climate change adaptation measures. The major thrust is enhancing agriculture productivity especially in rainfed areas focusing on integrated farming, soil health management, and synergizing resource conservation.
Competitive Landscape
Company Profiles: Detailed analysis of the major companies present in Global Harvesting Equipment Market.
- Lakeview Vineyard Equipment Inc
- Oxbo International Corp.
- Pellenc America.
- Containerpal
- Green-Rubber Kennedy Ag.
- American Grape Harvesters.
- Blueline Manufacturing and Equipment.
- Clemens Vineyard Equipment.
- Lazer Star Lights.
- Garton Tractor Inc.
Report Scope:
Market Trends & Developments
- Recent Developments
- Product Launches
- Mergers & Acquisitions
Harvesting Equipment Market, By Products:
- Combine Harvester
- Forage Harvester
- Sugarcane Harvester
- Others
Harvesting Equipment Market, By Application:
- Agriculture
- Fodder
Harvesting Equipment Market, By Region:
- North America
- United States
- Canada
- Mexico
- Europe
- France
- Germany
- United Kingdom
- Italy
- Spain
- Asia Pacific
- China
- India
- Japan
- South Korea
- Australia
- South America
- Brazil
- Argentina
- Colombia
- Middle East & Africa
- South Africa
- Saudi Arabia
- UAE
For more information about this report visit https://www.researchandmarkets.com/r/mpkvkn
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