The global threshing and harvesting machinery market is predicted to grow at substantial CAGR by 2021, finds a report available on Radiant Insights, Inc. High demand for advanced agricultural machines to enhance crop yield and reduce additional expenses is anticipated to drive market growth over the forecast period (2017 to 2021). Threshers are used by farmers to remove seeds from crop husks and stalks. While harvesters are used to collect ripe crops from the fields.
Growing demand for food attributed to increasing global population is anticipated to fuel market for threshing and harvesting machinery. Continual technological advancements in agricultural equipment to reduce manual work and to enhance productivity can augment growth. Favorable initiatives by governments to promote agricultural activities through subsidies and affordable loans for farmers can positively influence market growth. Rising adoption of advanced machinery by farmers to reduce manual labor can stimulate market growth during the forecast period
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To cater to rising demand, most companies are focusing on R&D activities to develop advanced threshing and harvesting machines. For instance, the University of Lincoln, Saga Robotics United Kingdom (U.K.), and Berry Gardens Growers Ltd., have started a two year project called RAS-Berry, in July 2018. This project is likely to develop advanced autonomous systems to support production of soft-fruit. These robotic machines can transport heavy boxes of fruits from picking point to collection point, relieving workers from heavy work. Such machines can enhance productivity at point the fruit is picked.
The worldwide threshing and harvesting machinery market can be segregated on the basis of product type and region. Based on product type, the market can be categorized into powered lawn mowers (horizontal cutting device), other powered lawn mowers, hay mowers and cutter bars, hay tedders, rakes and other haymaking machines, fodder and straw balers, combine harvester-threshers, root and tuber harvesting machines, and other threshing and harvesting machinery. Combined harvester-threshers segment is projected to dominate over the forecast period due to high demand. Provision of getting both threshing and harvesting functionalities from a single machine is expected to fuel demand over the next few years.
On the basis of geography, the global market is categorized into Europe, North America, Central and South America, Asia Pacific, and Middle East and Africa (MEA). North America is expected to witness significant growth over the forecast period attributed to rising population and demand for sufficient food. In addition, urbanization and high productivity demand with shrinking agricultural lands can fuel growth of the regional market in near future.
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Asia Pacific is expected to expand at a steady CAGR during the forecast period attributed to high demand among farmers in the region. Growing population and favorable initiatives by local governments to promote agriculture and use of advanced machinery to enhance crop yield can further augment regional market. In addition, scarcity of labor in agricultural field owing to industrialization is anticipated to surge demand for advanced threshing and harvesting machinery in India. Being the leading producer of sugarcane in the world, India is likely to fuel demand for these machines in the years to come. Affordability and ease of use allows farmers to save on expensive labor. This factor is anticipated to bode well for market expansion in near future.
Some of the leading companies operating in the global threshing and harvesting machinery market are Preet Agro Industries Pvt. Limited, John Deere, AGCO Corp., Sampo Rosenlew Limited, and Deere & Company.
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