Combine Harvesters Market
One of the most significant factors likely to drive the expansion of the global combine harvesters market is increased mechanization of farm operations. Farm mechanization saves time as well as labor, increases crop productivity, lowers post-harvest losses, lowers cost of crop production, and increased farm revenue in the long term. Equipment powered by mechanical and electrical power sources, animal-driven implements, and manually operated equipment all showed steady increase. In addition to that, the government's and other institutions' favorable lending policies for machinery purchases, along with the capacity to enhance agricultural production, are likely to fuel expansion of the global combine harvesters market in the years to come.
Farmers in Asia Pacific nations such as Japan, China, and India are being urged to use the most up-to-date technologies in order to increase production. In the coming years, Japan and China is likely to move toward autonomous farms. As a result, the country's leading companies have made investments in the development of sophisticated combine harvesters. Notwithstanding the outbreak of Covid-19, sale of combine harvester have increased in a few countries, including Europe and North America. Due to the countrywide lockdown imposed by the COVID-19 epidemic, Indian farmers have had difficulty getting their combine harvester from dealer locations to their fields as the virus swept throughout the nation.
Global Combine Harvester Market: Overview
Growing government support towards mechanization of agriculture is set to drive the global combine harvester combine market on an upward growth trajectory. As per Transparency Market Research, the growth curve would be steady and upward facing, owing to a sturdy compound annual growth rate, which is anticipated for the market. The vendor landscape with many regional and international players will witness players having a keen focus on technological advancement. As they come up with more innovative products, curve for the market would move higher. It is quite pertinent to note here that factors such as growing awareness regarding availability of such products and benefits of using these are also important growth propellers.
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Global Combine Harvester Market: Notable Developments
Over the forecast period, the global combine harvester market will be rife with notable developments. These would be an outcome of various growth measures deployed by market players. A glimpse can be found below:
2018: CONVIO FLEX was launched into the market by CLAAS KGaA mbH in order to expand its product portfolio. These draper cutter bars are known for their high performance and are pushing competition among players in the market to a higher level.
2017: Kubota Corporation took its operations in China to full-scale, laying claim to a higher share of the market. This is driving other players to focus upon expanding geographic reach. In turn, this will lead other players to vie for a share in the revenue increase.
Top-tier companies present in the competitive and fragmented vendor landscape of global combine harvester market are:
- Farm Equipment Limited
- Preet Group
- Kartar Agro Industries Private Limited
- Agco Corporation, Mahindra & Mahindra Ltd (M&M Ltd.)
- Claas Kgaa Mbh
- Deere & Company
- Sdf S.P.A. And Iseki & Co.,Ltd.
- Kubota Agricultural Machinery
- KS GROUP
- HIND AGRO Industries
- YANMAR CO., LTD.
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Global Combine Harvester Market: Key Trends and Drivers
Extensive use of combine harvesters in agriculture keeps the market for these products buoyant. However, over the forecast, multiple factors will contribute to growth, pushing the market on a higher growth trajectory. A glimpse into top trends and rivers can be had below:
- Awareness regarding better technology, and growing education levels of farmers regarding effective practices is leading to increase in demand for combine harvesters over the forecast period. This will help the market take on a steady trajectory. Government efforts such as those in providing subsidies for procurement of equipment are also contributing to this growth.
- Technological advancement and new product launches are also marking the landscape of global combine harvester market, set to drive it forward over the forecast period. As efficiency and use gets better, demand for combine harvesters will witness an upward growth curve.
Global Combine Harvester Market: Regional Analysis
Latin America would be a significant growth contributor in the global combine harvester market as far as regional shares is concerned. The high value growth will attract focus of key players towards itself over the forecast period. Players would contest claim on novel opportunities tooth and nail, driving the region on a higher growth curve.
Asia Pacific will also be a key region, growing at a lucrative CAGR owing to significant contributions from countries such as China and India. Extensive agricultural activities and growing adoption of state-of-the-art technology are leading to notable growth in the region. Government support also deserves a special mention in this market growth.
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