Combine Harvester Market Revenue To Cross USD 64,940 Mn By 2030 Astute Analytica

(MENAFN- EIN Presswire)

CHICAGO, UNITED STATES, January 17, 2023 /einpresswire.com / -- The global combine harvester market was valued at USD 46,362.3 Million in 2021 and is projected to reach USD 64,940 Mn by 2030, growing at a CAGR of 3.9% CAGR during the forecast period.

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The contemporary combine harvester, often known as a combine, is a multipurpose tool made to harvest a range of grain crops. The name comes from the fact that it combines the four distinct harvesting processes of reaping, threshing, gathering, and winnowing into one. Wheat, rice, oats, rye, barley, corn (maize), sorghum, soybeans, flax (linseed), sunflowers, and rapeseed are a few crops that can harvest by using a combine. The crop's stems and any remaining leaves go in the separated straw that is left on the field; this straw is either chopped, spread out, plowed back into the soil, or it is baled for bedding and sparingly used as feed for cattle. One of the most economically significant labor-saving innovations is the combine harvester, which considerably lowers the percentage of the population engaged in agriculture.

Factors Impacting Market Growth

Growing Demand for Technologically Advanced Farm Equipment

The main reason propelling the market for combine harvesters is the growing need for modern farm equipment on a global scale. Farm mechanization increases crop output and farm profitability while cutting crop production costs overall, minimizing post-harvest losses, and saving time and labor. The demand for equipment powered by mechanical and electrical power sources, manually operated tools, and animal-driven implements, has increased as more people are becoming aware of their advantages. The agriculture sector grows the GDP of every nation in the globe. The combine harvesters industry is driving due to the government's efforts to improve their agricultural operations in both developed and emerging economies.

Government Aid for Agricultural Mechanization

Governments from all around the world occasionally provide combine harvesters with varied subsidies. The United States Department of Agriculture (USDA) manages more than 60 direct and indirect farmer support programs, with the majority of direct funding going to farmers who grow a select group of commodities like maize, soybeans, and wheat. The market's expansion is also aided by subsidies such as insurance, agricultural risk coverage, price loss covering, conservation initiatives, marketing loans, catastrophe assistance, and research.

The Agriculture Infrastructure Fund (AIF) was established to generate a medium- to long-term financial loan facility for investment in post-harvest management infrastructure through incentives and financial support in order to enhance the US agricultural infrastructure.

Labor Shortage and Increasing Cost of Farm Labor

For the fourth year in a row, a labor crisis is having an impact on American farmers. Corn, fruits, vegetables, peas, and beans are sitting unharvested in various regions due to a lack of farm laborers. Fruits and vegetables are being imported to meet demand because of the shortfall.

US farmers are embracing a number of cutting-edge strategies to expand their businesses while utilizing limited labor resources. Farmers are adopting agrotechnology, such as sensors, forecasting models, robotics, and automation, despite their high initial costs, to improve crop yield and quality in order to operate as efficiently with fewer resources.

Overall Cost of Farm Equipment Manufacturing

In recent years, combine harvester tractor designs have changed in response to shifting consumer expectations. Modernizing equipment design, however, necessitates significant research and development expenditures, which can increase the final product's cost. Although product efficacy is crucial to farmers, affordability is often the most important factor, particularly in developing and emerging nations. Combination harvesters have become increasingly complicated in recent years, making operations considerably more challenging.

Impact Analysis of COVID-19

The COVID-19 pandemic caused supply chains in a number of businesses to break down. Despite appearing to be the least affected of all industries, the supply chain interruptions dramatically reduced sales of agricultural equipment. The main reason for this was government measures that classified agricultural activities as essential services. The Covid-19 graphical representation of the Astute Analytica research projects that the market for combine harvesters will see a drop of -7.9% in 2020.

The agricultural sector had to deal with problems like a lack of farm equipment parts and a drop in tractor sales, which were followed by the closure of manufacturing facilities and a loss of working capital. The COVID-19 pandemic had a detrimental effect on the combine harvester business in 2020, but by the end of 2021, it had begun to recover.

Governments declared different levels of lockdowns globally to halt COVID-19 from spreading. Farmers had trouble getting their combine harvesters delivered from dealer sites to their farms due to state-wide lockdowns in some nations. The new regulations that were enacted across the EU in response to the COVID-19 epidemic had a substantial influence on the farm machinery industry in the European Union. This made farmers less likely to buy new combine harvesters in 2020.

Segmentation Summary

Type Analysis

In 2021, the self-propelled segment dominated the global combine harvester industry and will witness the highest CAGR throughout the prognosis period. Wheeled harvesters are fantastic for farms with rough soil. These are the common varieties found in Bangladesh and India. Because of their great productivity and low maintenance requirements, self-propelled combine harvesters are expanding. In tiny farmlands, tractors with combine harvesters are frequently preferred (ranging in size from 1 to 10 acres).

Mechanism Segment Analysis

In 2021, the hydraulic combine harvesters segment acquired a significant portion of the market share. Whereas, the hybrid combine harvesters segment will record the highest growth rate throughout the forecast period. The header serves as the primary control panel for the combine harvester. The hydraulic drive system of the header has a direct impact on the operation of the complete machine and the layout of the transmission system. The advantages of hydraulic control are low volume and great power density. However, hybrid combine harvesters can harvest the produce with no losses and in a timely manner even on fields with green trunks or damp areas.

Power Segment Analysis

A modern combine harvester frequently has a diesel engine to power all of the machine's operational components and propel the vehicle when in use. The share of the combine harvesters industry with 150–300 horsepower will see the highest CAGR, while those with fewer horsepower will hold the lion's share of the market, according to a report by Astute Analytica. The expanded accessibility of numerous state-of-the-art diesel engine combine harvesters may potentially benefit the diesel engine market.

Grain Tank Size Analysis

In 2021, the 250-350 bu segment was the highest shareholder and will have a lucrative rate from 2022 to 2030. The favorable growth opportunities of the 250 bu segment are owing to the growing need for small tractors.

Class Analysis

In 2021, the class 3-4 (5-8 kg/s) segment held a dominant position in the global industry. In contrast, the class 5-6 (9-12 kg/s) segment will see the highest annual growth rate during 2022-2030. The quality and speed of performing a variety of actions determine the productivity (throughput) of a harvesting machine. While smaller machines are more maneuverable in smaller fields, wider machines are better suited for larger fields and lighter soil textures. Wider machines cannot operate in tiny rice fields, discouraging their use by small proprietors. Due to the abundance of little agricultural plots in Bangladesh and India, mini combine harvesters have recently grown in favor of Southeast Asia.

Crop Type Analysis

In 2021, the wheat segment acquired a dominant share of the global market with about 35%. The category will develop owing to the persistently rising demand for wheat and the corresponding rise in attention paid to improving its output relative to other crops. In order to meet the growing demand from South and Southeast Asia, as well as from Europe, West Asia, and North Africa, India, the second-largest wheat producer in the world, is concentrating on mechanizing the agricultural sector more broadly. Since Russia's invasion of Ukraine in February 2022, exports have been hindered, creating a rise in the demand for wheat harvesters throughout the Asia Pacific.

Regional Analysis

The Asia Pacific region is seeing a transition from manual to mechanized farming due to growing urbanization. Over the course of the projected period, the combine harvesters market is likely to grow at a CAGR of 4%. The global market expansion is due to the region's extensive agricultural operations, increased use of cutting-edge technology, and government backing.

Due to the planned renewal of combine harvester stocks in these regions, the markets in North America and Europe are likely to experience strong development possibilities in the second half of the forecast period. Due to developing agricultural technology over the course of the projection year, it is anticipated that the market in India will offer more growth prospects.

Browse Detailed Summary of Research Report:

Prominent Companies
The notable competitors in the global combine harvester market are:
New Holland
KS Group
SDF S.p.A.
John Deere
Preet Group
Kubota Corporation
Kartar Agro Industries
Tractors and Farm Equipment Ltd.
Massey Ferguson
Hind Agro Industries
Weichai Lovol Heavy Industry Co., Ltd.
YANMAR Co., Ltd.
CLAAS KGaA mbH
Mahindra & Mahindra Ltd.
Other Prominent Players

Segmentation Outline

The global combine harvester market segmentation focuses on Type, Mechanism, Power, Class, Grain Tank Size, Crop Type, and Region.
By Type
Self-propelled
Tractor-pulled Combine
PTO-powered Combine

By Mechanism
Hydraulic
Hybrid

By Power
Below 150 HP
150-300 HP
300-450 HP
450-550 HP
Above 550 HP

By Class
Class 1-2
(0.5-3 Kg/s)
Class 3-4
(5-8 Kg/s)
Class 5-6
(9-12 Kg/s)
Class 7
(12-14 Kg/s)

By Grain Tank Size
< 250 bu
250-350 bu
350 bu

By Crop Type
Wheat
Rice
Corn
Others

By Region
North America
U.S.
Canada
Mexico

Europe
UK
Germany
France
Italy
Spain
Poland
Russia
Rest of Europe

Asia Pacific
China
India
South Korea
Japan
Australia & New Zealand
ASEAN
Rest of Asia Pacific

Middle East & Africa (MEA)
UAE
Saudi Arabia
South Africa
Rest of MEA

South America
Argentina
Brazil
Rest of South America

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About Astute Analytica
Astute Analytica is a global analytics and advisory company that has built a solid reputation in a short period, thanks to the tangible outcomes we have delivered to our clients. We pride ourselves in generating unparalleled, in-depth, and uncannily accurate estimates and projections for our very demanding clients spread across different verticals. We have a long list of satisfied and repeat clients from a wide spectrum including technology, healthcare, chemicals, semiconductors, FMCG, and many more. These happy customers come to us from all across the Globe. They are able to make well-calibrated decisions and leverage highly lucrative opportunities while surmounting the fierce challenges all because we analyze for them the complex business environment, segment-wise existing and emerging possibilities, technology formations, growth estimates, and even the strategic choices available. In short, a complete package. All this is possible because we have a highly qualified, competent, and experienced team of professionals comprising business analysts, economists, consultants, and technology experts. In our list of priorities, you-our patron-come at the top. You can be sure of best cost-effective, value-added package from us, should you decide to engage with us.

Aamir Beg
Astute Analytica
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