(MENAFN- GlobeNewsWire - Nasdaq) Increasing Use of Agricultural Mechanization Across Globe Driving Sales of Combine Harvesters
Rockville, MD , Oct. 02, 2024 (GLOBE NEWSWIRE) -- According to the updated research analysis by Fact.MR, a market research and competitive intelligence provider, the global Combine Harvester Market is analyzed to reach a worth of US$ 8.85 billion in 2024. Worldwide sales of these Agriculture harvesters are forecasted to rise at a CAGR of 3.9% from 2024 to 2034.
Due to its efficiency and speed in performing agricultural duties, modern harvesting equipment is becoming popular as a multipurpose solution. To ensure greater yields and preserve farming profitability, several farmers are using updated equipment. The lack of qualified manpower and growing farm labor costs are creating prospects for combine harvester enterprises.
Sales of combine harvesters are supported by the global expansion in agricultural mechanization. The increasing use of precision farming techniques, labor shortages, government policies supporting the agriculture sector, the rising global population, and the consistent release of improved agricultural equipment are contributing to an increase in the demand for combine harvesters going forward.
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Key Takeaway from Market Study:
The market for combine harvesters is approximated to reach a value of US$ 12.97 billion by 2034. North America is approximated to capture a 22.8% share of the global market in 2024. Global sales of large-size combine harvesters are evaluated to rise at a CAGR of 3.9% to reach US$ 8.27 billion by 2034-end. Sales of combine harvesters in Japan are projected to rise at 4.1% CAGR through 2034. South Korea is analyzed to account for a share of 26.3% of East Asian market revenue in 2024. The market in East Asia is forecasted to expand at a CAGR of 4% from 2024 to 2034.
“Combine harvesters help in increased productivity, reduce environmental effects, and advance food security, all of which enhance market share,” says a Fact.MR analyst.
Leading Players Driving Innovation in the Combine Harvester Market:
Key players in the combine harvester market are CLAAS, Iseki & Co. Ltd., AGCO Corporation, John Deere, Dewulf N.V., Mahindra & Mahindra Ltd., Zoomlion Heavy Industry Science & Technology Co. Ltd., Kuhn SA, New Holland, Yanmar Co. Ltd, Kubota Agricultural Machinery, Foton Lovol International Heavy Industry Co. Ltd., OAO Rostselmash, CNH Industrial NV, Buhler Versatile Incorporated, Gomselmash Oao.
Preference for Wheel-Type Combine Harvesters for Easy Mobility and Economic Prices:
Combine harvesters with wheels work effectively in a range of environments, including fields that are level or slightly hilly. Compared to track-type combines, which have trouble on uneven terrain, they handle these terrains rather easily. Due to their superior mobility and comparatively lower ground pressure, these machines are easier to transport on public routes, allowing farmers to conveniently travel between non-contiguous areas. In general, wheel-type combines are comparatively less expensive than their tracked equivalents. For several farmers, especially those with limited resources, this makes them a more alluring option.
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Combine Harvester Industry News:
American-based John Deere is a well-known maker of agricultural equipment. Offering HarvestLab 3000 Grain Sensing for its S700 series, which combines harvesters from 2018 or contemporary models, was announced in January 2023. As harvest grains are combined, this technology allows for continuous measurement of the oil, carbohydrate, and protein content in wheat, canola, and barley. Farmers will be able to log harvest data more easily and optimize farming practices. Under the Swaraj brand, Mahindra & Mahindra Ltd. (M&M Ltd.) released a new wheel harvester on the domestic market in August 2023. With the greatest grain quality achievable, the Swaraj 8200 Wheel Harvester maximizes profit and harvests the largest area in a single year. The first specialist farm machinery unit (non-tractor) of Mahindra & Mahindra Farm Equipment Sector (FES), a division of the Mahindra Group, opened a new plant in November 2022 in Pithampur, Madhya Pradesh. The facility spans 23 acres and produces 1,200 harvesters annually. The Andhra Pradesh government declared in June 2022 that the huge state-level distribution of equipment, including combine harvesters, will begin as part of the YSR Yantra Seva Pathakam Scheme.
More Valuable Insights on Offer:
in its new offering, presents an unbiased analysis of the combine harvester market, presenting historical demand data (2019 to 2023) and forecast statistics for the period (2024 to 2034).
The study divulges essential insights into the combine harvester market based on cutting width (small size, large size), type of movement (wheel type, crawler type), power (below 150 hp, 150 to 300 hp, 301 to 450 hp, 451 to 550 hp, above 550 hp), by mechanism (hydraulic, hybrid), grain tank size (less than 250 bu, 250 to 350 bu, more than 350 bu), across seven major regions of the world (North America, Latin America, Western Europe, Eastern Europe, East Asia, South Asia & Pacific, and MEA).
Segmentation of Combine Harvester Market Research:
By Cutting Width : By Type of Movement : By Power : Below 150 HP 150 to 300 HP 301 to 450 HP 451 to 550 HP Above 550 HP
By Mechanism : By Grain Tank Size : Less Than 250 bu 250 to 350 bu More Than 350 bu
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