Combines Global Market Report 2024

The combines market size has grown strongly in recent years. It will grow from $25.98 billion in 2023 to $27.8 billion in 2024 at a compound annual growth rate (CAGR) of 7.0%. The growth observed during the historical period can be attributed to factors such as the increased adoption of agricultural mechanization, crop diversification, farm consolidation, technological advancements in combine harvester manufacturing, and improvements in crop yields.

The combines market size is expected to see strong growth in the next few years. It will grow to $34.56 billion in 2028 at a compound annual growth rate (CAGR) of 5.6%. The anticipated growth in the forecast period can be attributed to factors such as the emphasis on sustainable agriculture, the need for climate change resilience in farming practices, the adoption of precision agriculture techniques, and the integration of digital agriculture. Key trends expected in the forecast period encompass increased mechanization and automation in combine harvester manufacturing, the continued development of precision agriculture methods, the integration of data management for enhanced decision-making, and a strong focus on environmental sustainability in agriculture.

The transition from manual labor on farms to the mechanization of agricultural processes has significantly contributed to the growth of the combines market. Combines are farm machinery designed to cut and thresh grains, reducing the need for manual labor. In many developed countries worldwide, farm activities are increasingly reliant on the use of such machinery. For instance, in September 2022, an article by Gilbert Ayine Akolgo in Ghana revealed that the availability of tractor power had risen to 0.0588 kW/ha in 2020 and is projected to increase to 0.0752 kW/ha by 2025. This shift towards mechanization has proven to be more cost-effective, with mechanized processes being 21.3% to 53.8% cheaper than manual ones. As a result, the transition from manual labor to farm mechanization is a driving force behind the growth of the combines market in the forecast period.

The primary product types of combines include self-propelled, tractor-pulled, and PTO-powered combines. Self-propelled combines have their own means of propulsion and come in various movement types, such as crawler-type and wheel-type. These combines are categorized by their power capacity, which can be below 150 HP, 150-300 HP, 300-450 HP, 450-550 HP, and above 550 HP.

The combined market research report is one of a series of new reports that provides combines market statistics, including combining industry global market size, regional shares, competitors with a combines market share, detailed combines market segments, market trends, and opportunities, and any further data you may need to thrive in the combines industry. This combines 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.

The increasing demand for crop production is expected to be a key driver for the combines market in the coming years. Crop production is driven by the growing need to cultivate and harvest crops to meet the rising global food requirements. Combines are vital machines in crop production, playing a pivotal role in modern agriculture by efficiently harvesting and processing crops. This contributes to higher yields and improved farming practices. For instance, in December 2022, according to agricultural production statistics from the US-based government organization Food and Agriculture Organization (FAO), global production of primary crop commodities reached 9.5 billion metric tons in 2021, representing a 2% increase from 2020. This underscores the role of combines in meeting the increasing demand for crop production and, in turn, propelling the combines market.

The fluctuating raw material prices for manufacturing farm machinery, including combines, pose a limitation on the growth of the combines market. The price fluctuations in raw materials are influenced by cost-push and demand-pull factors. For example, steel is a crucial raw material in manufacturing various agricultural tools and farm machinery, and its cost is closely tied to the availability of iron ore and coking coal. Disruptions in the supply chain, such as those caused by the COVID-19 pandemic, have led to iron ore shortages, resulting in price increases. Many steel companies in India, for instance, raised their prices for the third time since the start of the pandemic. These price fluctuations in raw materials can impact the selling price of combines, thereby negatively affecting the combines market during the forecast period.

An emerging trend in the combines market is the integration of telematics into farm machinery, signifying technological advancements in the field of agriculture. Telematics is a data transfer system that collects and records work data, tracks, and yield data from connected combine harvesters, tractors, and other agricultural equipment. The collected data can be accessed and evaluated in real-time or retrospectively, either through a dedicated website or exported to common farm management software. For example, companies like CLAAS offer telematics solutions that optimize work processes in real-time, enable yield mapping, and monitor machine performance, all with the aim of enhancing overall machine efficiency.

Leading companies operating in the combines market are actively engaged in the development of innovative products, such as self-propelled combine harvesters, to maximize agricultural yields. Self-propelled combine harvesters are specialized agricultural machines equipped with multiple functions for crop harvesting. They feature their own built-in engine and propulsion system, allowing them to autonomously navigate fields. For example, in October 2021, Swaraj Tractors, an India-based tractor company, introduced the Gen2 8100 EX Self-Propelled Combine Harvester. This harvester, with a power output of 101 HP, offers good ground clearance and a tight turning radius. It includes five straw walkers and a substantial sieve area of 4.72 square meters, minimizing grain loss. Additionally, the harvester features a capacious grain tank with a 2140-liter capacity. Such innovative products are geared toward enhancing agricultural productivity and will likely contribute to the growth of the combines market.

Major companies operating in the combines market include 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

The Asia-Pacific was the largest region in the combines market in 2023. North America 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

The countries covered in the combines market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada

The combines (i.e., harvester-thresher) 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.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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