Market Research Report
Combine Harvesters Market - Growth, Trends, and Forecast (2020 - 2025)
|Published by||Mordor Intelligence LLP||Product code||907088|
|Published||Content info||123 Pages
Delivery time: 2-3 business days
|Combine Harvesters Market - Growth, Trends, and Forecast (2020 - 2025)|
|Published: January 1, 2020||Content info: 123 Pages||
The combine harvester market is projected to grow at a CAGR of 4.8% during the forecast period (2019-2024). The increasing farm mechanization is one of the most important reasons behind the growth of the combine harvester market. Also, the favorable credit policies toward machinery purchase adopted by the government and other institutions coupled with reduced harvesting losses are driving the growth of the market studied.
Combine Harvesters are one of the basic steps in achieving automation and mechanization in the field of agriculture.The report presents a wide-ranging analysis of the market size of the global combine harvester market. The review period considered for this study is 2015-2018, and the forecast period is 2019-2024. The report defines the market in terms of the key players, market shares of the key players, factors driving the market and restraining the growth, and the competition present in the global combine harvester market.
Increasing Farm Mechanisation is driving the market
The factors that are expected to augment the demand for combine harvesters are growth in the urban population and industrialization, which led to a shortage in farm labor, thus pushing the farmers to employ machinery for harvesting. Around the globe, the demand for combine harvesters has picked up, owing to the shortage of farm labor and lower arable land. In order to improve the efficiency of land use and crop yield, there is a rise in farm mechanization which has directly led to the growth of the combine harvester market. The demand for combine comes through farmers with large land holdings.
North America dominates the market
The scarcity of labor and the rising labor costs in North America coupled with the need to replace old machinery with the new one is leading the region to adopt the new technology and enhance the productivity and efficiency of the crops grown in North America. Also, the erratic climate condition in this region is driving the market for combine harvesters owing to their high operational efficiency and adaptability to soil quality.
In the global combine harvester market, companies are not only competing on the basis of product quality and promotion but are also focused on strategic initiatives, in order to account for prominent market shares. Companies are heavily investing in the development of new products, and are collaborating and acquiring other companies. This is expected to increase its market shares while strengthening R&D activities.