Overview and Scope
Combines refer to equipment that is 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.
Sizing and Forecast
The combines market size has grown strongly in recent years. It will grow from <b>$25.98 billion in 2023 to $27.8 billion in 2024 at a compound annual growth rate (CAGR) of 7.0%. </b> The growth in the historic period can be attributed to agricultural mechanization, crop diversification, farm consolidation, technological advancements, crop yields.
The combines market size is expected to see strong growth in the next few years. It will grow to <b>$34.56 billion in 2028 at a compound annual growth rate (CAGR) of 5.6%. </b> The growth in the forecast period can be attributed to sustainable agriculture, climate change resilience, precision agriculture, digital agriculture. Major trends in the forecast period include mechanization and automation, precision agriculture, integration of data management, environmental sustainability.
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Segmentation & Regional Insights
The combines market covered in this report is segmented –
1) By Product Type: Self-Propelled, Tractor-Pulled, PTO Powered
2) By Type Of Movement: Crawler Type, Wheel Type
3) By Power: Below 150 HP, 150-300 HP, 300-450 HP, 450-550 HP, Above 550 HP
The <b>Asia-Pacific</b> was the largest region in the combines market in 2023. <b>North America</b> was the second largest region in the combines market. The regions covered in the combines market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Major Driver Impacting Market Growth
The shift from manual activities in the farm to the mechanization of farms contributed to the growth of the combines market. The combine is farm machinery that can cut and thresh grains and reduce manual work. In many developed countries across the world, the majority of farm activities are done with the help of farm machinery. For instance, in September 2022, according to an article published by Gilbert Ayine Akolgo in Ghana, it was discovered that the amount of tractor power available has climbed to 0.0588 kW/ha in the year 2020 and is predicted to increase to 0.0752 kW/ha in the year 2025. Additionally, it was discovered that mechanised processes were between 21.3% and 53.8% less expensive than manual processes. The shift from labour to mechanizing of the farms drives the growth of the combines market for combines in the forecast period.
Key Industry Players
Major companies operating in the combines market include <b>Deere & Company, Kubota Corporation, AGCO Corporation, Claas KGaA GmbH, Yanmar America Corporation, Tractors and Farm Equipment Limited (TAFE), CNH Industrial N.V., ISEKI & Co. Ltd., Versatile, SAME DEUTZ-FAHR (SDF), Preet Agro Industries Pvt. Ltd., LOVOL Heavy Industry Co. Ltd., Mahindra & Mahindra Limited, Caterpillar Inc., Daedong Industrial Co. Ltd., J C Bamford Excavators Limited, MASSEY FERGUSON, Zhengzhou Amisy Machinery Co. Ltd., Pickett Equipment, Zhejiang Liulin Agricultural Machinery Co. Ltd., Rostselmash, Zoomlion Heavy Industry Science & Technology Co. Ltd., Xingguang Agricultural Machinery, Shandong Shifeng Group, Jiangsu Wode Group, Kuhn Group, Escorts Limited, Laverda S.p.A., Hubei Machinery and Equipment Co. Ltd., Goldsun (Hubei) Machinery Co. Ltd.., Laizhou Deyuan Machinery Co. Ltd., Sampo-Rosenlew Ltd., Parul Industries, Greaves Cotton Limited, Belarusian Autoworks</b>
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