BIS Research Study Forecasts Global Harvesting Equipment Market To Reach $30.11 Billion By 2027
FREMONT, Calif., August 2, 2022 /PRNewswire/ — BIS Research’s premium study titled Harvesting Equipment Market – A Global and Regional Analysis projects the market to reach $30.11 billion in revenue by 2027 at a CAGR of 5.08%.
The harvesting equipment industry has seen increasing demand from various end-use industries including agriculture, animal feed, and dairy. Nowadays, agricultural equipment is used in precision farming, forage harvesting and mechanized farming practices in developing countries.
The report highlights the key driving and restraining forces of the market along with the opportunities in different applications across major countries.
The detailed study is a compilation of 132 market data tables and 30 figures spread over 213 pages and an in-depth table of contents on ‘Global harvesting equipment market – Analysis and forecast, 2022-2027.’
Demand – Factors and Limitations
Following are the demand drivers for harvesting equipment market:
- Growing demand for corn products
- Growing demand for harvesters in precision agriculture
- Use of the combine harvester in the forage industry
The market is also expected to face some limitations owing to the following challenges:
- High initial investment
- Lack of technical knowledge on advanced agricultural equipment in developing countries
- Limited availability of after-sales services
Market Analyst’s View:
According Rakhi TanwarSenior Analyst, BIS Research“Harvesting equipment has huge potential in the near future as it is used by farmers, feed producers and dairy farmers. With better adoption of these agricultural equipments in precision farming, consumer demand for harvesting equipment will increase during the period 2022-2027. »
See the report in the global harvesting equipment market
Recent developments in the global harvesting equipment market
- In March 2022, Deere & Company updated its S-Series combines based on consumer demand. For this reason, the company raises awareness among farmers and drives sales growth globally.
- In May 2021Mahindra & Mahindra Ltd. established a new agricultural equipment production plant in Pithampur, India. This factory produces rice transplanters, potato planters and harvesters. The company has a strong presence in Asian markets. With this investment, the company would increase its production of harvesters in the Asian market.
- In September 2021CNH Industrial NV launched the Case IH Axial-Flow 4000 combine harvester in Africa and the Middle East Region. With this product launch, CNH Industrial NV entered Africa and the Middle East market.
Reasons to buy this report
This exclusive Harvesting Equipment Market Report will help you in the following ways:
- In-depth benchmarking of the top 15 players in the agricultural equipment segment
- Market sizing for the market in volume and value
- Investment landscape including product adoption scenario, financing and patent analysis
Who should buy this report?
Companies that manufacture and market harvesting equipment, as well as tractor manufacturers, animal feed producers, dairy farms, forage producers, silage manufacturers, research institutes and regulatory bodies agricultural.
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About BIS Research:
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