As farmers have begun upgrading their machinery and tools to meet the surging demand for agricultural products, the global combine harvesters’ market is set for a growth of more than three per cent between 2020 and 2026, according to global market research firm Fact.MR
The trend for harvesting equipment is rising, owing to a reduction in workforce and the need for quick harvesting operations. Thus, combine harvesters are witnessing heightened demand, underpinned by the ongoing expansion in the agriculture sector. Furthermore, various governments worldwide have introduced many convenient policies with regard to farm mechanisation, creating avenues for combine harvesters market.
The hydraulic mechanism segment is foreseen to witness 1.2X more revenue than the hybrid mechanism through 2026. In grain tank size category, 250-350 bushel (bu) combine harvesters are expected to attract a large consumer base due to its higher efficiency and cost-effective superiority, resulting in a contribution of 40 per cent of the global revenues.
Self-propelled combine harvester’s adoption becomes a major trend among various agricultural operations. Thus below 150 HP combine harvesters have a higher share in self-propelled technology. In power type segment, below 150 HP combine harvesters are growing at a rapid pace and are anticipated to surpass US$5bn mark by the end of the forecast period.
The USA and Canada are the early adopters of combine harvesters
The USA is focused on manpower reduction in the agricultural field. On this premise, North America will lead to the global combine harvesters market and will contribute half of the revenue shares.
“Intelligent combine harvesters are competent in monitoring grain flow rate and yield loss in real-time. As a result, grain growers are making a seismic shift to intelligent combine harvesters over conventional combine harvesters,” according to study analyst.
Cost and paucity of skilled workers may hinder the market growth
Requirements for harvesting equipment from the consumer standpoint are changing rapidly in terms of design or technicalities of product offerings. Thus, important manufacturers are investing significantly in the research and development to meet the necessities of the purchaser as per the ongoing trend, which often makes finished-products expensive.
In spite of the farmer’s point of view, product efficiency is important and so is its pricing. Meanwhile, exorbitant cost remains one of the major factors that hamper the global combine harvester sales. Moreover, the lack of skilled labourers in the field of agriculture has diminished the adoption of combine harvesters.
