Combine Harvester Market Forecast 2024-2033: Growth Rate, Drivers, And Trends

The Combine Harvester Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).

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According to The Business Research Company’s Combine Harvester Global Market Report 2024, The combine harvester market size has grown steadily in recent years. It will grow from $50.67 billion in 2023 to $52.74 billion in 2024 at a compound annual growth rate (CAGR) of 4.1%. The growth in the historic period can be attributed to mechanization in agriculture, increasing farm sizes, labor shortages, government support and subsidies, global population growth, crop diversification.

The combine harvester market size is expected to see steady growth in the next few years. It will grow to $62.89 billion in 2028 at a compound annual growth rate (CAGR) of 4.5%. The growth in the forecast period can be attributed to rising demand for food production, smart farming practices, focus on sustainability, global expansion of precision farming, farm consolidation and agribusiness. Major trends in the forecast period include precision agriculture technologies, technological advancements, climate-resilient harvesting technologies, energy-efficient harvesting, predictive maintenance solutions.

The increasing demand for agricultural production is expected to propel the growth of the combine harvester market going forward. Agricultural production encompasses the cultivation of crops and the rearing of animals to yield food, fiber, and various other products. It involves various activities such as soil cultivation, planting, harvesting, livestock breeding, and managing farm resources. A combine harvester is an important piece of equipment in agricultural production, especially in large-scale farming operations as it offers many advantages that make farming easier, faster, and more efficient. For instance, in October 2022, according to the UK statistics authority, a UK-based government administration, in 2021, wheat harvesting increased by 45% and sugar beet production increased by 26% when compared with the previous year. Therefore, the increasing demand for agricultural production is driving the growth of the combine harvester market going forward.

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The combine harvester market covered in this report is segmented –

1) By Type: Tractor Pulled Or PTO Powered Combine Harvester, Self-Propelled Combine Harvester

2) By Movement: Wheel Type Combine Harvester, Crawler Type Combine Harvester

3) By Cutting Width: Small Size Combine Harvester, Large Size Combine Harvester

4) By Power Type: Below 150 HP, 150-300 HP, 300-450 HP, 450-550 HP, Above 550 HP

5) By Application: Wheat Harvesting, Rice Harvesting, Soybeans Harvesting, Other Applications

Technological advancements are a key trend gaining popularity in the combine harvester market. Companies operating in the combine harvester market are adopting new technologies to sustain their position in the market. For instance, in June 2022, Deere & Company, a US-based machinery manufacturing company launched a high-capacity X-series combine harvesters (X9 1000 and X9 1100). Precision Ag technologies that are built into X Series Combines are available, collecting crucial machines and yield data while assisting in better harvesting outcomes. These highly advanced devices automatically adapt to changing conditions to maximize grain harvesting while minimizing grain loss or grain quality. The X9 1100 can harvest up to 7,200 bushels of high-yielding corn and up to 30 acres of hardy, high-yielding wheat each hour.

The combine harvester market report table of contents includes: