The global Combine Harvesters Market is estimated to be valued at US$ 4558.17 Mn in 2023 and is expected to exhibit a CAGR of 3.7% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Combine harvesters are agricultural machinery used to harvest grain crops such as wheat, barley, oats, rye, flax and legumes. They are cost-effective machines that help farmers harvest crops with minimum losses and maximum efficiency.
Market key trends:
One of the key trends gaining traction in the combine harvesters market is the development of self-driving harvesters. Major players are focusing on incorporating autonomous functionalities in combine harvesters to reduce labor requirements and enhance productivity. For instance, Deere & Company has developed autonomous concept harvesters as part of its research and development initiatives. These self-driving harvesters use machine learning, computer vision, GPS guidance systems and other technologies to perform harvesting tasks independently. They can identify crops for harvesting, steer themselves, and process the harvested crops with minimal or no human assistance. Such technological advancements are expected to revolutionize modern agricultural practices and boost sustainable production.
Segment Analysis
The combine harvesters market is segmented by product, drive type, and harvesting capacity. The below 500 HP sub-segment dominated the market in 2023 and will continue to do so over the forecast period. This is because the majority of farmers worldwide own small farms, hence require below 500 HP combine harvesters.
Key Takeaways
The Global Combine Harvesters Market Demand is expected to witness high growth, exhibiting a CAGR of 3.7% over the forecast period, due to increasing mechanization of the agricultural industry across major markets.
The Asia Pacific region is expected to be the fastest growing as well as the most dominant regional market over the forecast period. This is attributed to a large population dependent on agricultural activities and increasing government support for farm mechanization in countries like India and China.
The Asia Pacific combine harvesters market was valued at US$ 1234.23 Mn in 2023 and is estimated to reach US$ 1642.13 Mn by 2030, growing at a CAGR of 3.9% during the forecast period. Countries like India and China account for a significant share of the market in the region.
Key Players
Key players operating in the combine harvesters market are Tractors and Farm Equipment Limited (TAFE), Claas KGaA mbH, Mahindra & Mahindra Ltd, Kubota Agricultural Machinery, Deere & Company, Yanmar Co. Ltd, Massey Ferguson (AGCO Corporation), Iseki & Co. Ltd, CNH Industries Nv, SDF, Renault Sonalika International, and PREET GROUP.
Explorer more information on this topic, Please visit -
