Dublin, May 20, 2024 (GLOBE NEWSWIRE) -- The "Global Combine Harvester Market" report has been added to ResearchAndMarkets.com's offering.
The global combine harvester market, valued at US$ 49.33 Bn in 2023, is projected to reach US$ 64.94 Bn by 2030, growing at a CAGR of 4.12%. In 2023, the market volume stood at 257,649 units, highlighting the significant demand for these agricultural machines.
The market is primarily driven by the increasing need for technologically advanced farm equipment and growing government support for agricultural mechanization. These factors contribute to enhanced efficiency and productivity in farming operations. However, the overall cost of manufacturing farm equipment and stringent government regulations pose challenges to the market's growth.
Self-propelled combine harvesters are expected to dominate the market, surpassing US$ 30 Bn in revenue by 2028. In terms of mechanism, hydraulic combines hold over 55% of the market share in 2023. The fastest-growing power segment is the 150-300 HP category, with a projected growth rate of over 4.9%. The Class 3-4 segment is anticipated to cross US$ 25,000 Mn in revenue by 2027, while wheat as a crop type constitutes nearly 40% of the market share in 2023.
Asia Pacific leads the market, accounting for over 85% of the market share in 2023, with revenues around US$ 43 Bn. This dominance is due to the significant agricultural activities and mechanization in countries like China and India. North America and Europe also contribute notably to the market, with the USA, Canada, Germany, and France being key contributors.
The market is characterized by the presence of key players like Deere & Company, Kubota Corporation, Mahindra & Mahindra Limited, and CLAAS KGaA mbH, collectively holding a market share of approximately 66%. These companies, along with others like YANMAR Co., Ltd. and SDF S.p.A., play a significant role in the market dynamics through their product offerings and technological advancements.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 279 |
| Forecast Period | 2023 - 2030 |
| Estimated Market Value (USD) in 2023 | $49.33 Billion |
| Forecasted Market Value (USD) by 2030 | $64.94 Billion |
| Compound Annual Growth Rate | 4.1% |
Report Insights:
- The market is expected to reach US$ 64.94 Bn by 2030 with a CAGR of 4.12%.
- Key drivers include the need for advanced farm equipment and governmental support.
- Asia Pacific dominates the market, led by China and India.
- Key players include Deere & Company, Kubota Corporation, and others.
Global Combine Harvester Market Overview
Industry Value Chain Analysis
- Material Provider
- Technology Integration
- Distribution
- End User
Industry Outlook
- Overview of Combine Harvester Market
- Technology Development
- Factors affecting consumers for adoption of combine harvester
- High Labor Cost in Agriculture as a percentage, 2018
- Utilization of Agricultural Harvester Machineries
- PESTLE Analysis
- Porter's Five Forces Analysis
Market Dynamics and Trends
- Growth Drivers
- Restraints
- Challenges
- Key Trends
COVID-19 Impact Assessment on Market Growth Trend
Market Growth and Outlook
- Market Revenue Estimates and Forecast (US$ Mn), 2017 - 2030
- Market Volume Estimates and Forecast ('000 Units), 2017 - 2030
- Price Trend Analysis, By Mechanism
Competition Dashboard
- Market Concentration Rate
- Company Market Share Analysis (Value %), 2020
- Competitor Mapping
Company Profiles
- Deere & Company
- Kubota Corporation
- Mahindra & Mahindra Limited
- CLAAS KGaA mbH
- KS Group
- YANMAR Co., Ltd.
- Preet Group
- SDF S.p.A.
- Hind Agro Industries
- Tractors and Farm Equipment Limited
- Kartar Agro Industries
- Massey Ferguson
- LOVOL
- New Holland
Segment Overview:
By Type
- Self-propelled
- Tractor-pulled Combine
- PTO-powered Combine
By Mechanism
- Hydraulic
- Hybrid
By Power
- Below 150 HP
- 150-300 HP
- 300-450 HP
- 450-550 HP
- Above 550 HP
By Class
- Class 1-2
- Class 3-4
- Class 5-6
- Class 7
By Grain Tank Size
- < 250 bu
- 250-350 bu
- > 350 bu
By Crop Type
- Wheat
- Rice
- Corn
- Others
For more information about this report visit https://www.researchandmarkets.com/r/6t5vpv
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