by Combine harvesters are agricultural machinery used to harvest grain crops such as wheat, barley, oats, and maize. Combine harvesters efficiently harvest, thresh, separate and clean grain in a single pass over the field. This considerably reduces the time and labor required for harvesting crops when compared to conventional harvesting methods. Combine harvesters feature hoppers for storing harvested grain which can be unloaded directly into transportation trucks when full.
The global combine harvesters market is estimated to be valued at US$ 9 billion in 2023 and is expected to exhibit a CAGR of 22% over the forecast period 2024, as highlighted in a new report published by Coherent Market Insights.
The global combine harvesters market is driven by increasing grain production worldwide to meet the rising demand for food. According to data from the United Nations Food and Agriculture Organization (FAO), global grain production increased from over 2.17 billion tons in 2005 to nearly 2.78 billion tons in 2019 at a CAGR of over 1.7%. As grain cultivation acreages expand significantly, large-scale farmers are increasingly adopting combine harvesters to efficiently harvest vast crop areas within short time frames. Combine harvesters offer boosted productivity compared to manual methods and reduce grain losses during harvesting. Their utilization supports higher grain yield realization.
Market key trends:
One of the key trends in the combine harvesters market is the rising adoption of automation technologies. Major combine harvester manufacturers are focusing on integrating advanced robotics, AI, GPS, and computer vision systems to develop next-generation smart harvesting solutions. For instance, some models now feature autonomous steering and adaptive threshing/separating functions based on real-time crop and field conditions monitored through sensors and cameras. Self-propelled automatic steering helps balance the header for consistent cutting and reduces operator fatigue. Such smart functions boost harvesting efficiency, yield, and throughput while lowering costs for farmers.
Porter’s Analysis
Threat of new entrants: Low capital requirement allows small players to enter the market easily. However, established brands have strong brand loyalty and distribution networks which act as entry barriers.
Bargaining power of buyers: Large agricultural companies have significant influence over harvester manufacturers. They bargain for high discounts and better services.
Bargaining power of suppliers: Leading harvester manufacturers source key components like engines from global suppliers giving them moderate bargaining power.
Threat of new substitutes: No direct substitute exists for combine harvesters. Some alternatives like manual harvesting are not as efficient and productive.
Competitive rivalry: Intense competition exists among major brands like John Deere, CNH Industrial, AGCO etc. Companies compete on technology, pricing and after-sales service.
Key Takeaways
The Global Combine Harvesters Market Size is expected to witness high growth over the forecast period.
Regional analysis:
Europe commands the largest share in combine harvesters market led by countries such as UK, Germany and France. This is attributed to large agricultural land holdings and cooperative ownership of farms. However, Asia Pacific is poised to grow at the highest CAGR during the forecast period driven by increasing grain harvests in India and China. The governments of these nations are also promoting farm mechanization to boost productivity.
Key players operating in the combine harvesters market are John Deere, CNH Industrial, AGCO Corporation, SDF Group, Kubota Corporation. The major players are focusing on expanding their global footprint and product lines through strategic partnerships and mergers & acquisitions to strengthen their market position. For instance, in 2023, AGCO acquired a majority stake in Chinese self-propelled sprayer producer Changzhou Dongfeng Agricultural Machinery.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
