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Harvesting Equipment Market Value to Reach $30.11 Billion by 2027 | BIS Research Study
Harvesting Equipment Market: Focus on Harvesting Equipment Product and Application, Supply Chain Analysis, and Country Analysis - Analysis and Forecast, 2022-2027
By: BIS Research
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The region presents immense scope for market development, owing to changing farming practices, acute harvesting labor shortage, rising awareness of mechanized farming, and growing market penetration of favorable investments by the government. Moreover, the presence of economically advancing countries such as India and Japan is expected to drive the regional growth of the harvesting equipment market in the upcoming years.
In the North America region, the U.S. generated the highest revenue. This was largely due to the high adaptability of harvesting equipment by the farmers in the U.S. The extensive R&D activities that take place in the country and the urgent need to improve production from the decreasing number of farms further contributed to the growth of the market in the country.
The global payers in the harvesting equipment market are adopting the new product launch strategy for further business expansion. The innovative automated harvesting equipment equipped with sensors and software are booming in the market. To cater to this demand, various global players are adopting new product launches and product up-gradation strategies in the market. Cumulatively, the growing trend of precision farming, rise in industrial application and production of maize and rise in awareness of harvesting equipment further drive the harvesting equipment market globally.
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The harvesting equipment industry has witnessed an increasing demand from various end-use industries, including agriculture, animal feed, and dairy. Nowadays, harvesting equipment is used in precision farming, fodder harvesting, and mechanized farming practices in developing countries. The harvesting equipment market research study offers a broad perspective on the analysis of the industry.
About BIS Research:
BIS Research is a global B2B market intelligence and advisory firm focusing on deep technology and related emerging trends which can disrupt the market dynamics in the near future. We publish more than 200 market intelligence studies annually that focus on several deep technology verticals.
Our strategic market analysis emphasizes on market estimations, technology analysis, emerging high-growth applications, deeply segmented granular country-level market data, and other important market parameters useful in the strategic decision-making for senior management.