As per our findings, Asia Pacific is the largest and fastest growing consumer in combine harvester market as it plays a significant role in agriculture in Asia Pacific. It is majorly used to harvest crops like wheat, corn, and soybeans in the region to reduce labor costs and improve crop yields.
New Delhi, Sept. 05, 2022 (GLOBE NEWSWIRE) -- Global combine harvester market was valued at $ 46,362.3 million in 2021 and is projected to reach a value of $64,940.4 million by 2030 at a CAGR of 3.9% during the forecast period, 2022–2030.
Combine harvester is specifically designed to harvest crops by cutting the stalks at the ground level. It has started replacing the traditional tractor-idled grain harvesting method, and has proven to be an efficient and cost-effective tool for harvesting large amounts of crop in a short period of time. Driven by high demand from farmers across the United States, global manufacturers in the combine harvester market have responded by developing new models of combine harvesters that can handle even the most challenging terrain.
The combine harvester is a versatile machine that helps farmers harvest crops more efficiently. According to the World Agricultural Trade Organization, there was a 23% increase in the demand for combine harvesters between 2018 and 2021. This is likely due to the growing popularity of organic farming, which requires a large amount of precision when harvesting crops. Combine harvesters make this task much easier by quickly moving through fields and gathering the crops as they fall.
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Astute Analytica Says Sales of Combine Harvester to Surpass 259,000 by 2030
Combine harvester sales continue to grow, as farmers look for more efficient ways to harvest their crops in the combine harvester market. Combine harvesters offer significant advantages over traditional methods such as threshing and baling, and there are now several models available that cater to a variety of needs.
Globally more than 259,000 units of combine harvesters are expected to be sold by 2030. This is a significant increase over the current market size of around 161,000 units. This can be attributed to their effective use at harvesting grain and other crops in difficult terrain. They are also easier to operate than traditional harvesting methods, which means that they can be used by smaller farms and rural communities. This is further supported by advancing manufacturing technology and declining cost of combine harvesters around the globe.
As per our findings, Asia Pacific is the largest and fastest growing consumer in combine harvester market as it plays a significant role in agriculture in Asia Pacific. It is majorly used to harvest crops like wheat, corn, and soybeans in the region to reduce labor costs and improve crop yields. The region accounted for 35% of the global market in 2021 and is forecast to reach 50% by 2030. This growth is being fueled by rising population and growing adoption of modern agricultural machineries across India and China. Moreover, operators in this region benefit from economies of scale and increased productivity due to the large number of fields that can be harvested with a combine harvester. In fact, the region is expected to grow at a CAGR of 4% during the forecast period. Wherein, under 300HP is segment is holding over 60% market share.
In China, the combine harvester market is dominated by small and medium enterprises (SMEs), which is attributed to their preference for using technologies that are affordable and easy to maintain. Japan has witnessed significant growth in recent years owing to the growing demand for rice production in Asia. In India, the market is expanding due to an increased focus on agricultural mechanization. The region’s demand for combine harvesters has spurred growth in the region’s agricultural sector, which in turn, has driven innovation and increased safety within the industry. As a result, companies like Caterpillar have been able to continue to thrive and remain at the forefront of technology.
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Top 5 Companies are Holding Over 71% Share of the Combine Harvester Market
The top producers of combine harvesters are AGCO, Case IH, KS Group, John Deere, Mahindra & Mahindra, New Holland and Claas, and CNH Industrial, among others. As per AstuteAnalytica, top 5 players in the combine harvester market are holding over 71% market share. These companies have seen explosive growth in their products in recent years due to the increased demand for agricultural commodities, such as soybean and wheat.
AGCO and John Deere are collectively holding over 35% share and are the largest producer of combine harvesters in the global combine harvester market. These companies have seen sales growth almost 8% each year over the past five years. The main reasons for these companies’ success are the increased demand for agricultural commodities and the increasing use of combines in crop production. Combined harvesters allow farmers to harvest crops more efficiently and quickly, which leads to higher yields and profits for farmers.
Moreover, we found that most of the leaders in global combine harvester market opting for several growth strategies to increase their growth prospects in the combine harvesting industry. Primarily, they are more focused to invest in new technology and equipment to keep up with current trends in crop production. Second, they focus on expanding their distribution channels into new markets outside of North America.
The remaining 29% of the market is divided among a number of smaller manufacturers, including but not limited to Kubota, Massey Ferguson, and Challenger. Although these companies have a smaller overall market share, they still compete fiercely within their respective niches.
Prices for combine harvesters vary widely depending on features and specifications. However, John Deere and Case IH are typically priced at the higher end of the spectrum while New Holland and Claas offer more affordable options. This pricing strategy has been successful for each company as they cater to different segments of the global combine harvester market.
Astute Analytica has done a detailed study on global combine harvester market and prepared a report that provides access to granular insights such as company profiling, their market share analysis, competitive landscape, growth strategies, marketing strategies, revenue pockets, and distribution channel, among others.
Top Players in Combine Harvester Market
Deere & Company
Mahindra & Mahindra Limited
CLAAS KGaA mbH
YANMAR Co., Ltd.
Hind Agro Industries
Tractors and Farm Equipment Limited
Kartar Agro Industries
Other Prominent Players
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