The global combine harvesters market is forecast to register a volume CAGR of 2.6% between the period 2017 and 2026, according to a recent research study of Fact.MR. The report estimates global sales of combine harvester to surpass US$ 18,500 Mn by 2026-end.
With declining costs of agricultural produce becoming a prevailing trend, emphasis is being placed on improving land and labor productivity, in order to enhance profitability. Agricultural machinery manufacturers are therefore focusing on harvest volumes that have direct impact on the income of nations. These manufacturers are carrying of research and development activities associated with technologies that would provide real-time intelligence on harvest flow rates along with information about visualization losses during harvesting process.
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This has further given birth to intelligent combine harvesters, which can monitor yield loss and grain flow rate in real-time. Intelligent combine harvester enable farmers in root cause analysis and prevention of yield loss without affecting efficiency and productivity. On account of such benefits, intelligent combine harvesters might witness high demand among farmers in the near future, particularly in developed countries.
One of the major trends gaining traction in the combine harvesters market worldwide is growing integration of telematics with agriculture mechanization. Adoption of telematics ensures tracking loopholes in the performance of combine harvesters, provided with an onboard GPS system that provides information about engine status, location and speed of the harvester. Additionally, telematics enables reviewing information on previous operational hours, and furnishing that specific information on the time and manner of the harvester’s operation.
Asia-Pacific excluding Japan (APEJ) will continue to spearhead the global combine harvesters market, in terms of volume, mainly driven by robust foreign direct investments (FDI) into its developing nations such as China and India. FDI has further spurred the agricultural activities in these countries, thereby creating the need for efficient agricultural machinery such as combine harvesters. However, cost of new combine harvesters being substantial, farmers in APEJ are buying used machinery at relatively lower prices, impacting revenue generation of the market in the region.
In terms of value, 300-450 HP combine harvesters are expected to remain dominant in the market, based on power type. Revenues from sales of this power type segment will exceed US$ 4,900 Mn by 2026-end. Revenues from below 150 HP and 150-300 HP combine harvesters are also expected to remain significant, collectively estimated to account for roughly half share of the market by 2026-end. Sales of above 550 HP combine harvester are forecast to record the fastest expansion through 2026. In addition, sales of 450-550 HP and 150-300 HP combine harvesters will register a parallel rise through 2026.
Hydraulic Combine Harvesters to Remain Leading Mechanism Type Segment
In terms of value, hydraulic combine harvesters will remain the leading mechanism type segment in the market, with sales projected to hold more than half revenue share of the market during the forecast period. However, sales of hybrid combine harvester are set to record a comparatively faster expansion than that of hydraulic combine harvesters through 2026.
Based on grain tank size, more than 350 BU combine harvesters are projected to reflect the fastest value sales growth through 2026, trailed by less than 250 BU combine harvesters. However, revenues from 250-350 BU combine harvesters will continue to be relatively larger than all the other grain tank size segments in the market.
Key market participants identified by Fact.MR’s report include MASSEY FERGUSO, JCB, Yanmar America Corporation, KIOTI Tractor (subsidiary of Daedong Industrial Company, Ltd.), Case IH, Bobcat (a Doosan company), Escorts Limited, Mahindra and Mahindra, New Holland, Claas KGaA GmbH, AGCO Corporation, Kubota Corporation, Tractors and Farm Equipment Limited, Deere & Company, and Caterpillar.
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Combine Harvesters Market Valuable Growth Prospects and Insights on Future Scenario
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