Press release
Combines Market Growth, Demand, Key Drivers: Forecast To 2033
Combines Market Growth
Combines Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.
The Market Size Is Expected To Reach $34.56 billion In 2028 At A CAGR Of 5.6% :
The combines market size has grown strongly in recent years. It will grow from $25.98 billion in 2023 to $27.8 billion in 2024 at a compound annual growth rate (CAGR) of 7.0%. The growth in the historic period can be attributed to agricultural mechanization, crop diversification, farm consolidation, technological advancements, crop yields.
The combines market size is expected to see strong growth in the next few years. It will grow to $34.56 billion in 2028 at a compound annual growth rate (CAGR) of 5.6%. The growth in the forecast period can be attributed to sustainable agriculture, climate change resilience, precision agriculture, digital agriculture. Major trends in the forecast period include mechanization and automation, precision agriculture, integration of data management, environmental sustainability.
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Combines Market Major Segments
The combines market covered in this report is segmented -
1) By Product Type: Self-Propelled, Tractor-Pulled, PTO Powered
2) By Type Of Movement: Crawler Type, Wheel Type
3) By Power: Below 150 HP, 150-300 HP, 300-450 HP, 450-550 HP, Above 550 HP
Key Driver - Transition From Manual Farming To Mechanization Boosts Combine Market
The shift from manual activities in the farm to the mechanization of farms contributed to the growth of the combines market. The combine is farm machinery that can cut and thresh grains and reduce manual work. In many developed countries across the world, the majority of farm activities are done with the help of farm machinery. For instance, in September 2022, according to an article published by Gilbert Ayine Akolgo in Ghana, it was discovered that the amount of tractor power available has climbed to 0.0588 kW/ha in the year 2020 and is predicted to increase to 0.0752 kW/ha in the year 2025. Additionally, it was discovered that mechanised processes were between 21.3% and 53.8% less expensive than manual processes. The shift from labour to mechanizing of the farms drives the growth of the combines market for combines in the forecast period.
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Prominent Trend - Technological Advancements In Combine Harvesters
Technological advancements in farm machinery such as the involvement of telematics in agricultural equipment are likely to be an emerging trend in the combined market. Telematics is a data transfer system that retrieves and records work data, tracks, and yields data from connected combine harvesters, forage harvesters, and tractors. The collected data are further accessed and evaluated online in real-time or retrospectively through the TELEMATICS website using a desktop, laptop, smartphone, or can be exported to any common farm management software program. For instance, CLAAS provides telematics that optimizes the work process in real-time, yield mapping, and monitors machines to improve machine efficiency.
Combines Market Players
Major companies operating in the combines market include Deere & Company, Kubota Corporation, AGCO Corporation, Claas KGaA GmbH, Yanmar America Corporation, Tractors and Farm Equipment Limited (TAFE), CNH Industrial N.V., ISEKI & Co. Ltd., Versatile, SAME DEUTZ-FAHR (SDF), Preet Agro Industries Pvt. Ltd., LOVOL Heavy Industry Co. Ltd., Mahindra & Mahindra Limited, Caterpillar Inc., Daedong Industrial Co. Ltd., J C Bamford Excavators Limited, MASSEY FERGUSON, Zhengzhou Amisy Machinery Co. Ltd., Pickett Equipment, Zhejiang Liulin Agricultural Machinery Co. Ltd., Rostselmash, Zoomlion Heavy Industry Science & Technology Co. Ltd., Xingguang Agricultural Machinery, Shandong Shifeng Group, Jiangsu Wode Group, Kuhn Group, Escorts Limited, Laverda S.p.A., Hubei Machinery and Equipment Co. Ltd., Goldsun (Hubei) Machinery Co. Ltd.., Laizhou Deyuan Machinery Co. Ltd., Sampo-Rosenlew Ltd., Parul Industries, Greaves Cotton Limited, Belarusian Autoworks
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Largest And Fastest Growing Region In The Market
The Asia-Pacific was the largest region in the combines market in 2023. North America was the second largest region in the combines market. The regions covered in the combines market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Combines Market Report Structure
3. Combines Market Trends And Strategies
4. Combines Market - Macro Economic Scenario
5. Combines Market Size And Growth
…..
27. Combines Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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