Farming operations are becoming more productive and efficient by replacing manual labor with mechanical equipment, and threshers playing a key role in this endeavor, says Fact.MR.
Rockville, MD, July 29, 2024 (GLOBE NEWSWIRE) — According to a recently updated research report released by Fact.MR, the global thresher market size is expected to reach a size of US$ 76.33 billion in 2024 and further advance at a CAGR of 6.7% from 2024 to 2034. Market growth is being complemented by rising global food demand and population growth, which is driving the need for advanced agricultural equipment to increase output.
Threshers are boosting agricultural productivity and efficiency, helping meet global food demand. As the world’s population grows, threshers are projected to find widespread usage. As agricultural mechanization grows globally, advanced threshers are being developed to separate seeds from straw, chaff, stalks, and husks.
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Use of mechanical equipment in farming operations is increasing productivity and efficiency, resulting in a rapid increase in sales of threshers. More versatile threshing equipment is needed as farmers grow diverse crops. Integration of IoT and smart technologies into threshers is improving threshing efficiency and grain quality.
North America and East Asia are leading regional markets and also growing faster than the global average. Together, both regions account for over two-thirds of thresher sales in the world.
Key Takeaways from Market Study
- The global market for threshers is projected to expand at a CAGR of 6.7% between 2024 to 2034.
- The market is forecasted to climb to a value of US$ 146 billion by the end of 2034.
- The market in the United States is expected to reach a value of US$ 9.3 billion in 2024.
- China is estimated to account for a market share of 60.8% in East Asia by 2034.
- Revenue from the sales of threshers in Japan is estimated to reach US$ 8.29 billion in 2024.
- The market in East Asia is forecasted to expand at a CAGR of 7.8% from 2024 to 2034.
“While sales of manual threshers are more than other variants, over the next ten years, demand for hybrid variants will rise faster than others,” says a Fact.MR analyst.
Leading Players Driving Innovation In The Threshers Market–
Deere and Company; Mahindra and Mahindra; Deluxe Agro Industries; Rizhao Peakrising International Co. Ltd; Wuhan acme agro-tech co. ltd; AGCO; Zhaoqing Fengxiang Food Machinery Co. Ltd.; Golden Machinery Equipment Co. Ltd.; Shandong Guangzhong Machinery Co., Ltd.; Hunan Sunfield Agricultural Machinery Co., Ltd.; Alvan Blanch; ALMACO; Zhengzhou Aix Machinery Equipment Co., Ltd.; Amisy Farming Machine; Vishwakarma Agro; Cicoria; Amar Agriculture Machinery Group; Iseki and Co.
Rapid Modernization of Agricultural Sector in Several Countries
Asia Pacific holds a significant thresher market share due to the large-scale agricultural activity in countries such as China and India, where threshers are widely used for a variety of crops. Other regions, such as Europe, South America, the Middle East, and Africa, each have unique market dynamics that are influencing the sales of threshers. The agricultural sector in China and many other countries is swiftly modernizing, moving away from manual labor and toward mechanized farming. This shift has led to a high demand for agricultural equipment, including threshers.
Threshers Industry News-
In May 2022, John Deere acquired an algorithm package from AI firm Light to accelerate the transition to automated farming. The acquisition will allow Deere to automate its agricultural equipment and deploy multi-array camera technology. They intend to incorporate AI into their product line to improve equipment speed and safety while reducing the need for human intervention. John Deere has made significant progress toward fully autonomous farming by utilizing cutting-edge algorithms.
CIMMYT’s Feed the Future Mechanization and Extension Activity, funded by USAID, aims to address challenges in small grain processing and provide farmers with new market opportunities, therefore they launched a thresher in Zimbabwe in March 2024. The launch of this multi-crop thresher not only reduces the physical strain of manual threshing but also improves the overall quality of small-grain products. This innovation is a critical step toward increasing small grain production and consumption in Zimbabwe, thereby contributing to food security and improved farmer livelihoods.
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More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the thresher market for 2019 to 2023 and forecast statistics for 2024 to 2034.
The study divulges insights into the market based on product type (drummy, hammer mill, spike tooth, rasp bar, wire-loop, axial flow, syndicator), application (groundnut, corn, wheat & rice, sunflower), and mechanism (manual, hybrid, hydraulics), across seven major regions of the world (North America, Latin America, Western Europe, Eastern Europe, East Asia, South Asia & Pacific, and MEA).
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