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Combines Global Market Report 2023
Major players in the combines market are Deere & Company, Kubota Corporation, AGCO Corporation, Claas KGaA GmbH, Yanmar America, Tractors and Farm Equipment, CNH Industrial(Case IH and New Holland), ISEKI, Versatile, and SAME DEUTZ-FAHR (SDF).
New York, Feb. 23, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Combines Global Market Report 2023" - https://www.reportlinker.com/p06282475/?utm_source=GNW
The global combines market will grow from $26.99 billion in 2022 to $28.65 billion in 2023 at a compound annual growth rate (CAGR) of 6.2%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, causing inflation across goods and services effecting many markets across the globe. The combines market is expected to grow to $36.51 billion in 2027 at a CAGR of 6.2%.
Combines (i.e., harvester-threshers) market consists of sales of axial combines, transverse combine and hybrid combines. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
Combines refer to equipment that are 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.
The Asia Pacific was the largest region in the combines market in 2022.North America was the second largest region in the combines market.
The regions covered in the combines report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
The main product types of combines are self-propelled, tractor-pulled, and PTO-powered.Self-propelled is containing within itself the means for its propulsion.
The type of movement is crawler type and wheel type. The power is below 150 HP, 150-300 HP, 300-450 HP, 450-550 HP, and above 550 HP.
The shift from manual activities in the farm to the mechanization of farms contributed to the growth of the combined harvesters 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 labor to mechanizing of the farms drives the market for combines in the forecast period.
The fluctuating raw material prices for manufacturing farm machinery such as combines limit the growth of the combined market.The price rise in raw materials is the culmination of cost-push and demand-pull factors.
For instance, steel is a raw material that is used for manufacturing several agricultural tools and farm machinery and the cost of steel depends upon the availability of iron ore and coking coal.Due to the COVID-19 pandemic, there is a shortage of iron-ore as there is a disruption in the supply chain.
In India, many steel companies increased prices for the third time since the start of the pandemic by $36.43 to $40.48 per ton. Such fluctuating raw material prices for manufacturing agricultural equipment and machinery would change the selling price of the combines and this is expected to have a negative impact on the combines market during the forecast period.
Technological advancements in farm machinery such as the involvement of telematics in agricultural equipment are likely to be an emerging trend in the combined market.Telematics is a data transfer system that retrieves and records work data, tracks, and yields data from connected combine harvesters, forage harvesters, and tractors.
The collected data are further accessed and evaluated online in real-time or retrospectively through the TELEMATICS website using a desktop, laptop, smartphone, or can be exported to any common farm management software program. For instance, CLAAS provides telematics that optimizes the work process in real-time, yield mapping, and monitors machines to improve machine efficiency.
The countries covered in the combines market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA.
The market value is defined as the revenues that enterprises gain from goods and/or services sold within the specified market and geography through sales, grants, or donations in terms of currency (in USD ($) unless otherwise specified).
The revenues for a specified geography are consumption values – that is, they are revenues generated by organizations in the specified geography within the specified market, irrespective of where they are produced. It does not include revenues from resales either further along the supply chain or as part of other products.
The combined market research report is one of a series of new reports that provides combined market statistics, including combining industry global market size, regional shares, competitors with a combined market share, detailed combined market segments, market trends, and opportunities, and any further data you may need to thrive in the combines industry. This combined market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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