Pre-Harvest Equipment Market

Pre-Harvest Equipment Market Size & Growth:

Pre-Harvest Market was estimated to be worth around USD 55.21 billion in 2021 and is expected to reach USD 74.41 billion by 2025, growing at the CAGR of 6.15% from 2021 to 2026.

Farm operations are timely performed and the quality of agricultural commodities produced by the use of machinery is better. Further, the workload is reduced and also it brings about a change in the characteristics of agricultural practices. The Agriculture industry is presently facing many challenges: producing more food to feed the rapidly growing population with a waning labor force. Without the use of agricultural equipment, it is likely to become very difficult to sustain the needs of this growing population. However, lately, there was innovation in chemicals, fertilizers, and seeds which empowered the agricultural producers to try to meet the steadily rising demands of the world population. The use of pre-harvest equipment is likely to help the farmers in improving their production capacities to reduce the widening gap between demand and supply of agricultural produce. But in spite of such innovations in agricultural productivity, the challenges for the agricultural industry to supply the growing global economy with adequate supplies of agriculture are greater than ever before.

The tillage and planting equipment are the major segments capturing nearly 60% of the total market share. The production of self-propelled equipment has shown incredible growth in the last two decades because of its increased use by the farmers, facilitated by simplicity in the application.The Planting Equipment accounts for 30% of the total market. Steadily increasing the use of pre-harvest equipment worldwide in order to increase production capacity and efficiency is the cause of the observed market growth. Moreover, increasing awareness among farmers and several government initiatives especially in developing economies is anticipated to increase the demand for the market in the coming few years.

Pre-Harvest Equipment Market Drivers:

The Pre-Harvest Market is driven by linked advantages such as enhanced farm yield and lessening in labor requirements. Other factors propelling the demand of the industry include increased consumption of food due to the population growth, augmented farm mechanization level and rising income of middle-class farmers in developing nations. Additionally, several government initiatives and subsidiaries provided by them, especially in developing economies are projected to augment the global pre-harvest market throughout the forecast period. But still, the lack of awareness and hefty cost of farm equipment, are the major challenges in the growth of the market. Primary restraining factors for the agricultural equipment market are the small and fragmented land holdings in various parts of the world.

Pre-Harvest Equipment Market Segmentation:

The Pre-Harvest Equipment market is segmented into two broad categories, Type and Geography. Type majorly covers the various kinds of equipment that are available in the market. The following are the major equipment that has been covered in this report - Primary Tillage Equipment, Secondary Tillage Equipment, Planting Equipment, Irrigation Equipment, Plant Protection & Fertilizing, seed drills, planters, air seeders and others.

The Market is Geographically divided into:

• North America
• Europe
• Asia-Pacific
• Latin America
• Middle-East & Africa

The Asia Pacific is the fastest-growing market during the forecast period. It is due to the increased consumption of agricultural food and growth in the agriculture machinery industry. Further, robust economic growth and rapid rise in population size are fuelling the growth of the agricultural sector in countries such as India, China, and Thailand. In addition, the increased awareness about increasing farm yield and improved efficiency of equipment which results in high-quality products are also the causes of this rapid growth in these countries.

Key Players:

The global pre-harvest equipment market industry is highly consolidated with few companies manufacturing most of the products, and the rest of the market share is divided into small companies. Deere & Company (U.S.), CNH Global (The Netherlands), and AGCO Corp (U.S.). are the market leaders with a combined share of about 60%. The other players include Mahindra & Mahindra Ltd (India), Valmont Industries Inc.(U.S.), Iseki & Company Ltd(Japan), etc. Deere & Company is the market leader with 38% in 2020. In order to expand its product lines, John Deere has introduced various equipment. The company also adopted expansion and investments as its strategies for expanding its market globally. It invested around USD 58 million in its John Deere Seeding manufacturing plant in Moline to enhance its operations.