Major players in the combines (i.e., harvester-threshers) market are Deere & Company, Kubota Corporation, AGCO Corporation, Claas KGaA GmbH, Yanmar America, Tractors and Farm Equipment, CNH Industrial (Case IH and New Holland), ISEKI, Versatile, and SDF Group.
The global combines (i.e., harvester-threshers) market is expected to grow from $22.09 billion in 2020 to $24.44 billion in 2021 at a compound annual growth rate (CAGR) of 10.6%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $35.89 billion in 2025 at a CAGR of 10.1%.
The combines (i.e., harvester-threshers) market consists of sales of combines (i.e., harvester-threshers) by entities (organizations, sole traders, or partnerships) that are engaged in manufacturing combine harvesters which are versatile machines designed to efficiently harvest a variety of grain crops. Only goods and services traded between entities or sold to end consumers are included.
Technological advancements in farm machineries such as the involvement of telematics in agricultural equipment likely to be an emerging trend in the combines market.Telematics is a data transfer system that retrieves and records work data, tracks, and yield data from connected combine harvesters, forage harvesters, and tractors.
The collected data are further accessed and evaluated online in real time or retrospectively through the TELEMATICS website using a desktop, laptop, smartphone, or can be exported to any common farm management software program. For instance, CLAAS provides telematics that optimizes the work process in real-time, yield mapping, and monitors machine to improve machine efficiency.
The combines market covered in this report is segmented by product type self-propelled; tractor-pulled; PTO powered. It is also segmented by type of movement into crawler type; wheel type and by power into below 150 HP; 150-300 HP; 300-450 HP; 450-550 HP; above 550 HP.
The fluctuating raw material prices for manufacturing farm machineries such as combines limits the growth of the combines market.The price rise in raw materials is the culmination of cost-push and demand-pull factors.
For instance, steel is a raw material that is used for manufacturing several agricultural tools and farm machineries and the cost of steel depends upon the availability of iron ore and coking coal.Due to the Covid-19 pandemic, there is a shortage of iron-ore as there is a disruption in the supply chain.
In India, many steel companies increased prices third time since the start of the pandemic by $36.43 to $40.48 per ton. Such fluctuating raw material price for manufacturing agricultural equipment and machineries would change the selling price of the combines and this is expected to have a negative impact on the combines market during the forecast period.
The shift from manual activities in the farm to the mechanization of farms contributed to the growth of the combine harvesters market.Combine is farm machinery that can cut and thresh grains and reduces manual work.
In many developed countries across the world, the majority of farm activities are done with the help of farm machineries.According to a report by the Federation of Indian Chambers of Commerce & Industry (FICCI) and PWC in 2019, the mechanization level in farms in the USA is 95%, in Russia it is 85%, in Brazil it is 75% and in China, it is 50%.
The rise in the demand of food supply at a global level due to increasing population has increased from last few years, therefore, to increase the agricultural production farm mechanization plays an important role as it increases per unit production and decreases associated risks. The shift from labor to mechanizing of the farms drives the market for combines in the forecast period.
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