Market Size of Combine Harvesters Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 3.70 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Combine Harvester Market Analysis
The combined harvesters market is projected to register a CAGR of 3.7% during the forecast period.
- Increasing farm mechanization is one of the most important reasons behind the growth of the combined harvesters market. Farm mechanization saves time and labor, cuts down crop production costs in the long run, reduces post-harvest losses, and boosts crop output and farm income. Steady growth was observed in manually operated tools, animal-operated implements, and equipment operated by mechanical and electrical power sources.
- Agricultural systems worldwide have undergone changes in the cropping system, the type of power sources used, and the application of inputs to achieve a high level of productivity. The concerns about increasing the productivity of farms with declining labor availability are mainly driving the market. The favorable credit policies toward machinery purchases adopted by the government and other institutions, coupled with the ability to increase farm productivity, are driving the market's growth.
- Asian countries like India, China, and Japan are urging farmers to adopt the latest technologies to enhance productivity. China and Japan are moving toward autonomous farms in the upcoming years. Hence, the major players in the country are investing in developing advanced combine harvesters.
