Combine Harvesters Market to Surpass US$ 5594.5 Mn by 2030

The process of harvesting grain crops is done by using combine harvesters. This involves cutting the plants at ground level. This is done to allow the grains to fall through sieves and into the collection tank. The combined crop is then carried to the center of the machine via a conveyor. The threshing mechanism in the machine breaks up the harvested plant to separate the grain from the chaff and stalks. The chaff and stalks then pass along straw walkers towards the back of the machine. Some combines are also equipped with attachments that can collect and bag straw in addition to other tasks. Another feature of modern combines is the power take off. The power take off is connected to the tractor engine and can be used for various functions. It can be used to power the threshing machine, power the auger, or for other purposes.

Market Statistics:

The global Combine Harvesters Market is estimated to account for US$ 4238.7 Mn in terms of value by the end of 2021.

Global Combine Harvesters Market: Drivers

Growing government support to enhance farm mechanization is driving growth of the combine harvesters market. For instance, Indian government has recognized the need for inclusive growth of farm mechanization sector in the country, as result of this, a sub mission on Agricultural Mechanization was launched in 2014-15 and the Indian government allocated US$ 479.7 million during 2014-15 to 2018-19, and during 2018-19, it was US$ 146 million. This will boost the sale of combine harvesters, along with other farm machineries in the country.

Global Combine Harvesters Market: Opportunities

Booming economic conditions in China and India is projected to hold potential growth opportunities. These economies have been able to achieve rapid growth due to the improved performance capacities of combine harvesters. Farmers in these countries are buying and using the latest machinery.

Global Combine Harvesters Market: Restraints

High product development costs is acting as a barrier for the market growth.

Global Combine Harvesters Market - Impact of Coronavirus (Covid-19) Pandemic:

The agricultural value chain was severely affected by the Covid-19 crisis. The industry has remained a central pillar of the economy as it serves the food consumption needs around the globe. The outbreak of the virus has adversely affected the supply chain and agriculture production. This condition has put restrictions on the export and import of food grains which has severely affected the agriculture sector. However, economic activity is up and running now which may support the agriculture industry to get back to its feet as soon as possible.

To know the latest trends and insights prevalent in this market, click the link below:

https://www.coherentmarketinsights.com/market-insight/combine-harvesters-market-5458

Key Takeaways:

The global combine harvesters market was valued at US$ 4238.7 Mn in 2021 and is forecast to reach a value of US$ 5594.5 Mn by 2030 at a CAGR of 3.7% between 2022 and 2030.

Self-propelled segment held dominant position in the global combine harvesters market in 2021, accounting for 63.17% share in terms of value, increasing approval and launch of new products is expected to propel growth of the segment during the forecast period.

Global Combine Harvesters Market Trends:

The emergence of telematics in the agricultural mechanization industry has accelerated the growth of the global combine harvesters market. This could be a major trend for the global combine harvesters market. This technology is being adopted by several countries in the Asia Pacific region, including Japan, Indonesia and Malaysia. These technologies are proving to be cost-effective and easy to maintain. They are also gaining popularity among small and medium-sized enterprises (SMEs).

The growing need for better farm productivity is also stimulating growth of the global combine harvesters market. The increase in production of crops such as wheat, corn, soybean, and rice is also boosting the market growth. These crops contribute to a higher level of income for the farmers. This increased income is attributed to higher yields and consequently, higher profits.

Global Combine Harvesters Market: Competitive Landscape   

Tractors and Farm Equipment Limited (TAFE), Claas KGaA mbH, Mahindra & Mahindra Ltd, Kubota Agricultural Machinery, Deere & Company, Yanmar Co. Ltd, Massey Ferguson (AGCO Corporation), Iseki & Co. Ltd, CNH Industries Nv, SDF, Renault Sonalika International, and PREET GROUP

Global Combine Harvesters Market: Recent Developments

• In June 2020, The Deere & Company launched 2 models in X series, which further enhanced the company sale.
• In September 2017, The DEERE & COMPANY launched automated combine harvesters into the market
• In September 2019, Yanmar Completes Acquisition of North American Manufacturer ASV Holdings. ASV’s independent dealer network throughout North America, Australia, and New Zealand will join Yanmar’s existing global equipment        
• In September 2020, Yanmar has announced the establishment of its Middle East Branch, located in the United Arab Emirates, near Dubai Airport. The office will be operated by Yanmar subsidiary and Asia regional headquarters, Yanmar Asia (Singapore) Co., Ltd., and will provide sales and service support to dealers in Yanmar’s Middle East territory.
• In October 2020, Yanmar rolls out information support service using the LINE App. Information support service will provide information about the engine and advice on accident prevention.