The global sales of combine harvesters amount to US$ 51.2 billion and are forecasted to increase at 3.8% CAGR over the next ten years. As such, by 2033-end, the global combine harvesters market is estimated to reach a valuation of US$ 74.5 billion. Combine harvesters are agricultural machines that combine operations such as reaping, threshing, gathering, and winnowing to create a one-stop solution for farmers.
Combine harvesters improve productivity, efficiency, and profitability for farmers and hence are expected to witness a steady hike in demand on a global level. Portable combine harvesters, wheat harvesters, rice harvester machines, and maize combine harvesters are some of the popular products in the marketplace at present. Get Crucial Business Analysis (PDF).
Key Takeaways from Market Study
· The global combine harvesters market stands at US$ 51.2 billion in 2023.
· Worldwide demand for combine harvesters is estimated to evolve at a CAGR of 3.8% from 2023 to 2033 (forecast period).
· The global market is forecasted to garner US$ 74.5 billion by 2033.
· The Europe market is projected to evolve at a CAGR of 4.3% from 2023 to 2033.
· Demand for combine harvesters is anticipated to rise rapidly in Asia Pacific over the next ten years.
· The Asia Pacific market is projected to evolve at a CAGR of 4.5% from 2023 to 2033.
· North America captured 50% share of the global market in 2022.
Prime combine harvester manufacturers are focusing on the integration of advanced technologies to improve the productivity of machines and offer advanced harvesting solutions for farmers.
· In January 2023, John Deere, a leading American manufacturer of agricultural machinery announced that it was offering HarvestLab 3000 Grain Sensing option for its S700 series combine harvesters from 2018 or newer. The grain sensing option allows continuous monitoring of starch, oil, and protein values in canola, wheat, and barley as the combine harvests grains. Through this farmers can precisely log harvest information to optimize their farming technique.
Leading combine harvester suppliers are also investing in the expansion of their production capacity to maximize sales potential and gain a competitive advantage over other market players.
· In November 2022, Mahindra & Mahindra’s Farm Equipment Sector (FES) inaugurated its first dedicated machinery (non-tractor) plant in Madhya Pradesh, India. The plant has a capacity of manufacturing nearly 1200 combine harvesters per year and is spread across 23 acres in the city of Pithampur.
More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the Combine Harvesters market, presenting historical demand data (2018 to 2022) and forecast statistics for the period of 2023 to 2033.
The study divulges essential insights on the market on the basis of Power (Below 150 HP, 150 to 300 HP, 300 to 450 HP), By Mechanism (Hydraulic, Hybrid), By Grain Tank Size (Less Than 250 bu, 250 to 350 bu, More Than 350 bu), across five major regions (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa).
These insights are based on a report on Combine Harvesters Market by Fact.MR.
For more information: www.factmr.com