The global combine harvesters market is set to surpass a valuation of US$ 18 Bn by the end of 2026, as per the recent market intelligence study of FactMR. Businesses in the combine harvesters market are increasingly pushing for superior production techniques and strategic collaborations to boost portfolios and increase production capacity.
“Intelligent combine harvesters are capable of monitoring grain flow rate and yield loss in real time. Consequently, farmers are making a major transition to incorporate intelligent combine harvesters over conventional variants,” says the FactMR report.
Combine Harvesters Market: Key Findings
- Combine harvesters with grain tank size of 250-350 bushels feet are gaining traction, with hydraulic mechanisms projected to capture a larger consumer base.
- Self-propelled combine harvesters below 150 HP are becoming a prominent trend in the agriculture industry.
- Combine harvesters with engine power below 150 HP will display high growth potential and hurtle towards a valuation of US$ 5 billion.
- North America is set to exhibit a substantial CAGR and market share, on back of high adoption rates in United States and Canada.
Combine Harvesters Market: Key Driving Factors
- High importance given to agricultural productivity in emerging economies to sustain growth.
- Rising adoption of agricultural equipment by farmers for higher returns, will increase scope of application.
- Advanced GPS and sensor technologies to increase scope of automation, and boost global revenue share in combine harvesters market
- Government policies to provide farmers with better access to modern agricultural equipment will aid growth.
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Combine Harvesters: Key Market Restraints
- Vendors to face obsolescence of equipment owing to fast rate of mechanization and high competition in the industry.
- Lack of skilled laborers in agricultural operations to restrict the adoption of combine harvesters.
- High costs of purchase, installation, and maintenance to restrict use globally.
The global combine harvesters market is largely fragmented. Industry leaders are focusing their efforts on production method improvements for better efficiency and innovation. This includes installation of new production facilities, with greater emphasis on acquiring smaller players. The report has also profiled key players in the global combine harvesters market including Caterpillar Inc., JCB,Inc., New Holland, Tractors and Farm Equipment Ltd., Deere & Co, Mahindra and Mahindra, Kubota Corporation, KIOTI Tractor, Bobcat, MASSEY FERGUSO, Yanmar America Corporation, and Class KGaA GmbH.