Fact.MR’s Forecast on Global Threshers Market: Financial Infeasibility to Deter Widespread Adoption of Threshers through 2026
Published : 06 Mar 2018 Industry: Automotive
With soaring food consumption levels, agricultural sectors of developed as well as developing economies are striving to boost the production of farmlands and increase profitability. Agricultural mechanization continues to be recognized as a pivotal force that aims to increase farm outputs through the use of heavy fieldwork machines and equipment such as threshers. Farmers are using threshers to increase profitability of harvesting, threshing and other common farming activities. Over the years, threshers have instrumentally enhanced the productivity of labor-intensive farming activities by eliminating the drudgery associated with such agricultural systems. However, buying a thresher will continue to be unaffordable for local farmers in the future. Private farm lands and agro-industrialists will also face the brunt of high prices while adopting multiple threshers for large-scale farming applications.
Fact.MR foresees a sluggish growth for the global threshers market during the period, 2017-2026. It has been observed that in the near future, the demand for threshers will dwindle on the back of financial infeasibility. Over the forecast period, the global market for threshers is assessed to expand at a CAGR of 2.8% in terms of volume. Key presumptive scenarios developed in the forecast study estimate the global threshers market to touch a valuation of US$ 3.38 billion by the end of 2026.
Key Deterrents for Adoption of Threshers
The mechanical advantage of threshers in farming activities is high on productivity, wherein new threshing technologies will be improving the quality of the harvest for future generations. Regardless, the sales of threshers are less likely to incur impressive growth in 2018 and beyond. Factors deterring farmers from purchasing threshers have been analyzed in the report, which include:
- consistently high prices of threshers across the globe
- cost-intensive maintenance of heavy fieldwork machines
- challenges faced by traditional agricultural enterprises in terms of adapting to the advancements in threshers
- high APRs of agricultural loans for threshers
It has been estimated that majority of local farmers across multiple geographies in the world will consider not buying threshers, which will incidentally drive the leasing or renting of these heavy machines.
High Profits of Threshing Cash Crops such as Wheat to Favor the Growth of Global Thresher Sales
Threshers are used in the farming of a variety of crops, wherein their key purpose of separating the grains and seeds from stalks and chaff differs from crop to crop. Cash crops such as wheat will be viewed as highly profitable for thresher manufacturers. More than one-fourth of thresher units manufactured across the globe are estimated to be used for wheat threshing through 2026. The report projects that by 2026-end, more than 250,000 units of wheat threshers will be sold worldwide.
Axial Flow Thresher and Spike-Tooth Threshers to Register High Sales
Collectively, axial flow threshers and spike-tooth threshers will represent the top-selling product categories in the global market. Over the forecast period, more than 45% of the global thresher market volumes will be accounted by the sales of these types of products. The advantage of spike-tooth threshers in multi-crop threshing and modification feasibility of axial flow threshers will drive their adoption in the foreseeable future.
Global Threshers Market: Manufacturing Insights
Key findings from the report reveal that majority of manufacturers will be developing threshers on hydraulics systems. Mechanization benefits of hydraulic threshers will continue to fuel their sales and translate high profits for market players. By 2026, more than half of million units of threshers sold in the global market will be developed on hydraulic mechanism. Several companies are also expected to extend the production of threshers developed on hybrid mechanism. Over the forecast period, hybrid mechanism of threshers is pegged to reflect a CAGR of 3.5% in terms of volume.
Prominent manufacturers namely, Mahindra and Mahindra, Derre And Company, Rizhao Peakrising International Co. Ltd, Deluxe Agro Industries, AGCO, Wuhan acme agro-tech co. ltd, Golden machinery equipment co. ltd, Zhaoqing Fengxiang Food Machinery Co. Ltd, Hunan Sunfield Agricultural Machinery Co., Ltd., Shandong Guangzhong Machinery Co., Ltd, ALMACO, ALVAN BLANCH, Amisy Farming Machine, Zhengzhou aix machinery equipment co. ltd, Cicoria, Vishwakarmaagro, Iseki and Co., and Amar Agriculture Machinery Group will be instrumenting the global production of threshers in the coming years.