Ever burgeoning demand for food crops to feed an exponentially increasing population is compelling farmers to invest in sophisticated agricultural machinery, including combine harvesters, to maximize yield in forthcoming years
ROCKVILLE, MD / ACCESSWIRE / February 24, 2021 / Fact.MR's global combine harvesters market forecasts a positive growth path through 2021, sustained by increasing agricultural output across prominent regions. Threshing, winnowing and reaping of food crops are the primary applications expected to keep combine harvesters demand elevated in the long-term.
According to the OECD FAO Outlook 2020-2029, about 85% of global crop output growth over the forthcoming decade is attributed to yield improvements. This is largely an end-product of more intensive input use, investments in production technology and enhanced cultivation practices. Further intensification of land use through multiple harvests annually will contribute an additional 10% growth. Hence, farmers are investing in advanced agricultural machinery, thus uplifting prospects for combine harvesters.
Manufacturers are introducing a slew of advanced combine harvesters, equipped with highly sophisticated technological advancements. For instance, in 2014, New Holland introduced the CR10.90 combine harvester with a chaff-smoking 652 horsepower or 486 kWh fit to thresh the plants off the completion. It consists of a six-cylinder inline diesel engine called the Cursor 16, capable of pumping 14,500 liter grain storage tanks.
"Rising demand for precision agriculture is compelling prominent combine harvester manufacturers to introduce state-of-the art and high capacity wielding machines, complete with advanced automation and AI-enabled software to aid in better harvesting practices, thereby uplifting expansion prospects for the market in the long run," remarks a Fact.MR analyst.
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Key Takeaways from Fact.MR's Combine Harvesters Market Study
- By power, the 300-450 HP combine harvesters to account for more than three out ten sales
- Hydraulic operated harvesters to experience high growth, attributed to its ability to handle demanding work functions
- By grain size, 250-350 bu to contribute 40% of the total revenue share in the near-term
- US and Canada to remain the epicenter of combine harvester growth, owing to increased mechanization of agriculture
- UK to witness heightened annual growth amid increasing preference for automated agricultural practices
- Implementation of modern agricultural practices to fuel combine harvester sales across India
Combine Harvesters Market- Prominent Drivers
- Demand for shorter harvest times amid growing need for quicker agricultural output to escalate combine harvesters sales
- Deeper penetration of automation and technological advancements in agriculture to augment sales
- Manufacturers likely to target Asian markets for further expansion, attributed to largely agrarian nature of their economies
Combine Harvesters Market- Key Restraints
- High capital expenditure incurred upon purchase to deter small-scale farmers from using combine harvesters
- Inadequate technical knowledge about operating such harvesters in under-developed economies to limit penetration
Discover more about the combine harvesters market with 95 figures and 108 data tables, along with the table of contents. You will also find detailed market segmentation on https://www.factmr.com/report/516/combine-harvesters-market
Competitive Landscape
Caterpillar Inc., Deere & Company, Tractors and Farm Equipment Limited, Kubota Corporation, AGCO Corporation, Claas KGaA GmbH, New Holland, Mahindra and Mahindra, Escorts Limited, Bobcat, Case IH, KIOTI Tractor (Daedong Industrial Ltd.), Yanmar American Corporation, JCB and MASSEY FERGUSO are some prominent combine harvesters players profiled by Fact.MR's report.
In order to sustain their operations, manufacturers are emphasizing on acquiring certifications from regulatory authorities alongside other organic and inorganic expansion strategies. For instance, in September 2020, New Holland Agriculture obtained the Origine France Garantine (French Origin Guaranteed) certification for its whole range of self-propelled grape and olive harvesters.
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Also, in March 2020, Kubota Corporation acquired a 10% equity stake in Escorts Ltd. to integrate and deepen their relationship towards achieving their mutual ambition of global leadership. This initiative will enable Kubota emerge as a leading player in the Indian market in agricultural equipment.
Find More Valuable Insights on Combine Harvesters Market
Fact.MR, in its new offering, provides an unbiased analysis of the global combine harvesters market. The study divulges compelling insights on the combine harvesters market on the basis of power type (below 150 HP, 150-300 HP, 300-450 HP, 450-550 HP, above 550 HP), mechanism type (hydraulic , hybrid), grain tank size (less than 250 bu, 250-350 bu, more than 350 bu), and across seven regions.
Key Questions Covered in the Report
- How will the global combine harvesters market expand through 2021?
- What drivers are expected to underpin market growth?
- What challenges are likely to present themselves to the predicted growth trajectory in the long-run?
- How lucrative is the growth opportunity for combine harvesters across North America?
- Why is India anticipated to emerge as a highly promising market for combine harvesters?
- Which prominent manufacturers operate in the global combine harvester landscape?
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