Global Combine Harvester Market 2017-2021
About Combine Harvester
Combine harvesters are used to perform three separate tasks of harvesting in a single process - reaping, threshing, and winnowing of a cereal crop. Some of the crops that need combine harvesters are wheat, corn (maize), barley, rye, oats, sunflower, and soybeans. Combine harvesters are an essential agricultural machinery. They are rarely affected by the shortage of labor force in the agricultural industry.
Technavio’s analysts forecast the global combine harvester market to grow at a CAGR of 7.58% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global combine harvester market for 2017-2021. The report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Combine Harvester Market 2017-2021
Technavio recognizes the following companies as the key players in the global combine harvester market: AGCO, CLAAS, CNH Industrial, and Deere & Company.
Other Prominent Vendors in the market are: Dewulf, ISEKI, KUBOTA, KUHN, Lely Group, Lovol Heavy Industry, Mahindra & Mahindra, Ploeger Machines, PÖTTINGER Landtechnik, Preet Machines, Sampo-Rosenlew, SDF, and Tractors and Farm Equipment (TAFE).
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is Rising popularity of telematics in agricultural mechanization. Use of telematics ensures an onboard GPS system in combine harvesters. The GPS system helps in providing information about vehicle location, speed, and engine status. Telematics helps in reviewing specific data of previous operational days and furnishing data on when and how efficiently the machine has been operated before the farmer starts threshing again.”
According to the report, one of the major drivers for this market is Increasing governmental support for agricultural mechanization. Governments of many countries support farmers by providing them subsidies and training them to operate agricultural machinery including combine harvesters. For instance, the US Department of Agriculture (USDA) offers the Microloan Program that helps in providing financial assistance for agricultural purposes, which includes assistance related to operating expenses, machinery, seeds, fertilizers, and repairs.
Further, the report states that one of the major factors hindering the growth of this market is Uncertainty in raw material prices of combine harvesters. The cost of combine harvesters is very high, which includes the cost of raw materials like steel, rubber, glass, plastic, and iron, etc. The volatility in the costs of raw materials is a major hindrance to the profit margin of competitors. This poses a threat to the manufacturer in producing efficient agricultural machinery at affordable prices.
AGCO, CLAAS, CNH Industrial, Deere & Company, Dewulf, ISEKI, KUBOTA, KUHN, Lely Group, Lovol Heavy Industry, Mahindra & Mahindra, Ploeger Machines, PÖTTINGER Landtechnik, Preet Machines, Sampo-Rosenlew, SDF, and Tractors and Farm Equipment (TAFE).