Harvester Market Size, Share, Forecast, & Trends Analysis by Type (Combine Harvester, Forage Harvester, Potato Harvester, Reapers), Mode of Operation (Automatic), Propulsion Type (Electric), Power (Below 150 HP), and Crop Type - Global Forecast to 2031

The Harvester Market was valued at $29.08 billion in 2023. This market is expected to reach $42.51 billion by 2031 from an estimated $30.49 billion in 2024, at a CAGR of 4.9% during the forecast period from 2024 to 2031.

Harvester Market Size & Forecast

The growth of this market is driven by the rising global food demand and crop production, increasing agricultural mechanization, and growing adoption of advanced harvesting technologies. Moreover, innovations in smart agriculture and emerging economies are expected to create market growth opportunities for the stakeholders operating in this market. In addition, the automation and robotics in harvesting equipment and increasing demand for sustainable farming practices are major trends in the harvester market.

Key Findings in the Harvester Market

• By Type: In 2024, the Combine Harvester Segment is Expected to Dominate the Harvester Market
• By Mode of Operation: In 2024, the Semi-automatic Harvester Segment is Expected to Dominate the Harvester Market
• By Propulsion Type: In 2024, the Non-electric-Powered Harvesters Segment is Expected to Dominate the Harvester Market
• By Power: In 2024, the Below 150 HP Segment is Expected to Account for the Largest Share of the Harvester Market
• By Crop Type: In 2024, the Cereals & Grains Segment is Expected to Account for the Largest Share of the Harvester Market
• By Geography: Asia-Pacific Expected to Dominate the Harvester Market in 2024

Harvester Market Growth Drivers

Rising Global Food Demand and Crop Production

The global food and agriculture industry is evolving to enhance food production amid a growing population and changing consumer preferences. As the global population continues to rise, the demand for food is increasing at an unprecedented rate. According to the United Nations, the world population is expected to reach nearly 10 billion by 2050, requiring a 60% increase in food production, which necessitates a significant boost in agricultural output. This rising demand for food has become a driving force behind the growth of the agricultural machinery market, including harvesters.

Harvesters play a crucial role in modern agriculture by efficiently gathering crops, minimizing waste, and maximizing yield. As traditional farming methods increasingly fall short in meeting these demands, the reliance on advanced harvesting equipment has intensified. Farmers are seeking ways to enhance productivity and efficiency, making modern harvesters an essential investment. These machines not only reduce the time and labor required for harvesting but also improve the overall quality of produce. For instance, in 2018, the Canadian agriculture sector faced a shortage of 63,000 agricultural laborers, with projections indicating this shortage could reach an estimated 123,000 by 2029 (Source: Canadian Federation of Agriculture [CFA]).

This shortage of agricultural labor has accelerated the adoption of mechanized equipment among farmers to increase agricultural efficiency and crop productivity. Additionally, some governments are investing in agricultural modernization, which is further expected to drive the demand for harvesters.

Therefore, the rising global food demand, combined with the need for increased crop production and technological advancements, is driving the demand for harvesters.

Growing Adoption of Advanced Harvesting Technologies

The technological advancements, economic pressures from rising food demand, labor shortages, and a focus on sustainability are driving the adoption of advanced harvesting technologies. Traditional harvesting methods are often labour-intensive and time-consuming, making them less viable in today’s fast-paced agricultural environment. Advanced harvesters, such as combine harvesters and automated systems, are designed to operate at higher speeds and with greater precision. These machines can harvest larger areas in shorter time frames, significantly reducing labor costs and minimizing crop losses due to delays.

Moreover, the integration of technology, such as GPS and precision farming tools, has revolutionized harvesting. GPS-enabled harvesters provide real-time data on field conditions, enabling farmers to optimize their harvesting strategies based on factors like moisture content and crop maturity. This data-driven approach not only enhances yield quality, but also supports sustainable practices by reducing waste and promoting efficient resource use.

Furthermore, the ongoing development of autonomous harvesting technology is set to transform the landscape of agricultural harvesting. Autonomous harvesters equipped with artificial intelligence and machine learning capabilities can operate independently, making real-time decisions based on field data. This innovation not only addresses labor shortages but also allows farmers to focus on other critical aspects of their operations.

Therefore, the growing adoption of advanced harvesting technologies is driving the demand for modern harvesters in agriculture.

Harvester Market Trend

Automation and Robotics in Harvesting Equipment

Automation and robotics are increasingly transforming the agriculture industry, driven by labor shortages and rising operational costs. The advent of technologies such as cloud computing, the Internet of Things (IoT), artificial intelligence (AI), big data, and robotics is significantly reshaping agricultural practices.

Robotic systems equipped with advanced sensors and artificial intelligence can identify optimal harvesting times and navigate fields with precision. These autonomous machines make real-time decisions based on environmental conditions, resulting in reduced crop losses and improved yield quality. The integration of automation also streamlines the harvesting process. For instance, autonomous combine harvesters can efficiently gather and process crops, minimizing downtime and maximizing output. As technology continues to advance, the adoption of automated and robotic harvesting equipment is expected to increase, shaping the future of agriculture and driving greater efficiency in food production.

Harvester Market Analysis: Top Market Opportunity

The Combine Harvester Segment to Dominate the Harvester Market in 2024

Based on the type, the harvester market is segmented into combine harvester, forage harvester, sugarbeet harvester, potato harvester, wine grape harvester, reapers and other harvesters. In 2024, the combine harvester segment is expected to account for the largest share of the harvester market. This segment’s large market share is attributed to the increased popularity of the combine harvesters due to its versatility and efficiency in harvesting multiple types of crops, including grains, corn, and soybeans, which are staple crops in global agriculture. Additionally, the rising need for mechanized solutions to address labor shortages and improve productivity further supports the demand for combine harvesters. These harvesters streamline the harvesting process by combining multiple functions—reaping, threshing, and winnowing into a single operation, helps in reducing labor costs and minimizing post-harvest losses. In addition, combine harvesters capable of harvest and thresh one acre of land in about one hour with appropriate engine specifications, whereas manual harvesting typically requires an average of 12 people working for an entire day to cover the same area.

Moreover, combine harvester is also slated to register the highest CAGR during the forecast period of 2024–2031. The high growth of this segment is mainly driven by technological advancements, the emergence of autonomous harvesters, and growing demand for hybrid combine harvesters. Also, increasing R&D to develop cutting-edge features that enhance performance, safety, and user comfort is further supporting the growth of this market. The government incentives and subsidies for modern agricultural equipment in key markets, including the U.S., India, and China, are further expected to drive growth in the adoption of combine harvesters over the coming years.

Geographical Analysis

Asia-Pacific Dominates the Harvester Market

Based on geography, the harvester market is majorly segmented into five regions: North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. In 2024, Asia-Pacific is expected to account for the largest share of the global harvester market, followed by North America and Europe. Asia-Pacific’s significant market share can be attributed to several key factors, such as the region’s large agricultural sector, the high demand for food to support a growing population, and the need to increase agricultural productivity to meet rising food demand. Additionally, government initiatives in countries like China and India promoting agricultural modernization through subsidies and financing options for machinery purchases are driving the adoption of harvesters across the region. The prevalence of small and medium-sized farms also fuels demand for compact and efficient harvester models suited to local needs.

However, North America is projected to register the highest CAGR during the forecast period of 2024–2031. This rapid growth in North America market is primarily driven by the region's early adoption of precision agriculture, high investment in advanced farming technologies, and the increasing trend toward sustainable agricultural practices. Additionally, growing labor shortages in agriculture and government programs supporting farm mechanization and efficiency improvements are expected to fuel the demand for harvesters in the region.

Key Companies

The report offers a competitive analysis based on an extensive assessment of the leading players’ product portfolios, geographic presence, and key growth strategies adopted in the last three to four years. Some of the key players operating in the harvester market are CLAAS KGaA mbH (Germany), CNH Industries N.V. (U.K.), Deere & Company (U.S.), Yanmar Holdings Co., Ltd. (Japan), KUBOTA Corporation (Japan), Tractors and Farm Equipment Limited (India), Mahindra & Mahindra Ltd. (India), AGCO Corporation (U.S.), ISEKI & Co., Ltd. (Japan), SDF S.p.A. (Italy), Harvest Automation, Inc. (U.S.), Preet Group (India), and KZ Rostselmash LLC (Russia).

Harvester Industry Overview: Latest Developments from Key Industry Players

• In December 2023, Swaraj, a division of Mahindra & Mahindra Ltd. (India), launched next-gen Swaraj 8200 smart harvester for Indian farmers. In addition, the company has established a dedicated harvester plant in Pithampur, Madhya Pradesh, India to cater the growing demand for harvesters.
• In November 2022, CLAAS KGaA mbH (Germany) invested USD 46.4 million (EUR 44 million) to increase its combine harvester production at the Harsewinkel site.
• In August 2022, AGCO Corporation (U.S.) launched an 800hp+ forage harvester, Fendt Katana 850, to optimize performance in large crops.
• In August 2022, AGCO Corporation (U.S.) launched the Fendt CORUS 500, a straw walker combine harvester, for flexible use in different crops.
• In July 2022, Mahindra & Mahindra Ltd. (India) acquired Sampo Rosenlew Oy (Finland), a combine harvester manufacturer, to offer a broader product portfolio of harvesters to address the needs of farmers around the world.

Harvester Market Research Summary

Key questions answered in the harvester market report: