Posted On: 2021-12-16
Combine harvesters acquired the largest market volume share in the Asia-Pacific harvester market – 6Wresearch
Asia-Pacific harvester market witnessed a slow and steady growth in the past owing to the increasing crop production capacity, government providing subsidies and acceptance of technological farming machineries. In Asia-Pacific, China garners the majority share in revenue and volume for the year 2020 i.e. more than 85%. China is amongst the largest manufacturer as well as market for harvesters within Asia-Pacific followed by Australia and Japan. However, due to the outbreak of Covid-19, certain countries witnessed a decline in the market as they are import driven and during lockdown, imports were prohibited worldwide. On the other hand, certain countries showed growth in the sales of harvester owing to their increasing demand due to flourishing agriculture sector.
According to 6Wresearch, Asia Pacific Harvester Market size is projected to grow at a CAGR of 4.4% during 2021-2027. By harvester types, combine harvester had garnered majority revenue and volume share for the year 2020 owing to their wider usage for harvesting grains and cereals when compared to other harvesters in the country. Also, a similar trend is anticipated in the forthcoming years.
According to Srajan Yadav, Research Associate, 6Wresearch, “Within by power-ratings, the growing demand for digital agriculture is driving the agricultural equipment market in Asia-Pacific. Thus, 100.1-200HP captured the highest revenue and volume share for the year 2020 in the region owing to the technological advancements and increasing government incentives.”
According to Ananya Consul, Research Associate, 6Wresearch, “By crop types, corn and rice dominated the revenue share for the year 2020 in Asia-Pacific. China, Japan and Cambodia are the world's largest producer of rice, making up more than 35% of global rice production. High temperature and adequate rainfall make an ideal environment for corn and rice production in the region.”
Some of the major companies in Asia Pacific harvester market include Kubota Corporation, Yanmar Holdings Co. Ltd., CNH Industrial, Iseki & Co. Ltd., Weichai Lovol Heavy Industry Co. Ltd., CLAAS KGaA mbH, AGCO Corporation, Mitsubishi Mahindra Agricultural Machinery.
“Asia-Pacific harvester market (2021-2027)” report provides an in-depth analysis with 138 figures and 67 tables, covered in 233 pages. The report estimates and forecast the overall Aisa-Pacific harvester market by harvester types, power-ratings and crop types. The report provides an unbiased and detailed analysis of the on-going trends, opportunities/high growth areas and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.