The harvesting machinery market has been forecast to hit an industry value of US$32 billion by 2018, driven by the mechanisation of farming practices and the increased adoption of agricultural field machinery.
Harvesting equipment is broadly classified into five categories: grain and seed crop machines, root-crop machines, row-crop machines, hay and silage machines, and tree crop machines. A harvester performs simultaneous execution of farm processes, such as cutting, threshing, and winnowing.
Demand for harvesting machinery is fuelled by the need to enhance the efficiency and effectiveness of agricultural practices. Growth is also driven by factors such as, increased pressure on arable lands to improve agricultural yields; technological advancements in agricultural machinery; and government support through subsidies.
Technological advancements are also expected to drive growth in the market. Integration of computer-controlled automated harvesting capabilities, cameras, and global positioning sensors for intelligent navigation and obstacle detection, are expected to encourage adoption among farmers. Also benefiting the market are improvements in engineering design and comfort feature.
Rising farm consolidation in developed countries is expected to generate demand for larger machinery. Urbanisation is a key factor responsible for consolidation of farms into larger farming plots. With shortages in farm labour supply, bigger equipment assumes mission critical importance in effectively managing large scale farm activities.
Asia-Pacific represents the largest and the fastest growing market worldwide. Growth in the region is led by China and India. Low levels of agricultural mechanisation and use of traditional inefficient farm equipment in these countries offer massive untapped opportunities for growth.
In the coming years, innovations that save energy and resources and optimise efficiency will help manufacturers retain a premium pricing advantage in the market.
The long-term outlook for the market remains optimistic guided by growing populations and the increasing emphasis on food security and self-sufficiency, especially in developing countries. Also, opportunities for harvesting machinery in emerging markets will be guided by the low rate of farm mechanisation in these regions.
For more information on the harvesting machinery market, see the latest research: Harvesting Machinery Market
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