The recently published market study by Fact.MR highlights the current trends that are expected to influence the dynamics of the Combine Harvesters Market in the upcoming years. The report introspects the supply chain, cost structure, and recent developments pertaining to the Combine Harvesters Market in the report and the impact of the COVID-19 on these facets of the market. Further, the micro and macro-economic factors that are likely to impact the growth of the Combine Harvesters Market are thoroughly studied in the presented market study.
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Combine harvesters are a multifunctional machine that helps to harvest a variety of grain crops efficiently. Threshing, winnowing, and reaping are the preliminary operations performed in myriad agricultural processes. Nowadays, the trend for harvesting equipment is rising owing to reduction in workforce and the need for quick harvesting operations. Thus, combine harvesters are witnessing heightened demand, underpinned by the ongoing expansion in the agriculture sector.
Furthermore, various governments worldwide have introduced many convenient policies with regard to farm mechanization, thereby creating avenues for combine harvesters market. Farmers have also begun upgrading their machinery & tools to keep up with the surging demand for agricultural products.
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This has necessitated the use of the combine harvesters and is likely to push the global combine harvesters’ market growth to over 3% between 2024 and 2026.
Key Takeaways of Combine Harvesters Market
- The hydraulic mechanism segment is foreseen to witness 1.2X more revenue than hybrid mechanism through 2026
- In grain tank size category, 250-350 Bushel (bu) combine harvesters are expected to attract a large consumer base due to its higher efficiency and cost-effective superiority, resulting in a contribution of 40% of the global revenues
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- Self-propelled combine harvesters adoption becomes a key trend among various agricultural operations. Thus below 150 HP combine harvesters have higher share in self-propelled technology
- In power type segment, below 150 HP combine harvesters are growing at a rapid pace and are anticipated to surpass US$ 5 Bn mark by the end of the forecast period
- United States and Canada are the early adopters of combine harvesters as US is focused on manpower reduction in the agricultural field. On this premise, North America will lead in the global combine harvesters market and will contribute half of the revenue shares
“Intelligent combine harvesters are competent in monitoring grain flow rate and yield loss in real time. As a result, grain growers are making a seismic shift to intelligent combine harvesters over conventional combine harvesters” says Fact.MR analyst.
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Exorbitant Cost and Paucity of Skilled Workers to Hinder Market Growth
Requirements of harvesting equipment from the consumer standpoint is changing rapidly in terms of design or technicalities of product offerings. Thus, key manufacturers are investing significantly in research and development to meet the necessities of the purchaser as per the ongoing trend, which often makes finished-products expensive. In spite of the farmer’s point of view, product efficiency is important and so is its pricing. Meanwhile, exorbitant cost remains one of the major factors that hampers the global combine harvester sales. Moreover, the lack of skilled laborers in the field of agriculture has diminished the adoption of combine harvesters.
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