Combine Harvesters Market to Ride Wave of Profitability on Back of its Versatile Operations, Opines Fact.MR
Published : 28 Jan 2020 Industry: Industrial Goods
Combine harvesters are a multifunctional machine that helps to harvest a variety of grain crops efficiently. Threshing, winnowing, and reaping are the preliminary operations performed in myriad agricultural processes. Nowadays, the trend for harvesting equipment is rising owing to reduction in workforce and the need for quick harvesting operations. Thus, combine harvesters are witnessing heightened demand, underpinned by the ongoing expansion in the agriculture sector. Furthermore, various governments worldwide have introduced many convenient policies with regard to farm mechanization, thereby creating avenues for combine harvesters market. Farmers have also begun upgrading their machinery & tools to keep up with the surging demand for agricultural products. This has necessitated the use of the combine harvesters and is likely to push the global combine harvesters’ market growth to over 3% between 2020 and 2026.
Key Takeaways of Combine Harvesters Market
- The hydraulic mechanism segment is foreseen to witness 1.2X more revenue than hybrid mechanism through 2026
- In grain tank size category, 250-350 Bushel (bu) combine harvesters are expected to attract a large consumer base due to its higher efficiency and cost-effective superiority, resulting in a contribution of 40% of the global revenues
- Self-propelled combine harvesters adoption becomes a key trend among various agricultural operations. Thus below 150 HP combine harvesters have higher share in self-propelled technology
- In power type segment, below 150 HP combine harvesters are growing at a rapid pace and are anticipated to surpass US$ 5 Bn mark by the end of the forecast period
- United States and Canada are the early adopters of combine harvesters as US is focused on manpower reduction in the agricultural field. On this premise, North America will lead in the global combine harvesters market and will contribute half of the revenue shares
“Intelligent combine harvesters are competent in monitoring grain flow rate and yield loss in real time. As a result, grain growers are making a seismic shift to intelligent combine harvesters over conventional combine harvesters” says Fact.MR analyst.
Exorbitant Cost and Paucity of Skilled Workers to Hinder Market Growth
Requirements of harvesting equipment from the consumer standpoint is changing rapidly in terms of design or technicalities of product offerings. Thus, key manufacturers are investing significantly in research and development to meet the necessities of the purchaser as per the ongoing trend, which often makes finished-products expensive. In spite of the farmer’s point of view, product efficiency is important and so is its pricing. Meanwhile, exorbitant cost remains one of the major factors that hampers the global combine harvester sales. Moreover, the lack of skilled laborers in the field of agriculture has diminished the adoption of combine harvesters.
Find More Valuable Insights on Combine Harvesters Market
Fact.MR, in its new offering, provides an unbiased analysis of the global combine harvesters market, presenting historical demand data (2014-2018) and forecast statistics for the period, 2019-2026. 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.
About the Automotive Division at Fact.MR
Expert analysis, actionable insights, and strategic recommendations of the highly seasoned automotive research team at Fact.MR helps clients from across the globe with their unique business intelligence needs. With a repertoire of over thousand reports and 1 million plus data points, the team has analyzed industrial sector across 50+ countries for over a decade. The team provides unmatched end-to-end research and consulting services. Reach out to explore how we can help.