Written by Shalu Dhama » Updated on: April 12th, 2024
IMARC Group, a leading market research company, has recently releases report titled "Combine Harvesters Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032" offers a comprehensive analysis of the industry, which comprises insights on global combine harvesters market share. The market size reached US$ 10.6 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 15.4 Billion by 2032, exhibiting a growth rate (CAGR) of 4.1% during 2024-2032.
A combine harvester also referred to as a combine, represents a complex agricultural machinery used by farmers for threshing, gathering, reaping, and winnowing in a single process. It saves time and human labor and lowers crop production expenses and post-harvest losses. A combine harvester protects crops from getting damaged by natural disasters, such as floods, unseasonal rains, and hailstorms. It also lowers the stress for the farmer and tackles the harvesting efficiently, even in case of labor scarcity during the peak season. In addition, a combine harvester aids in enhancing crop productivity and raising farm revenue in the long term. As a result, this machinery is extensively used in the agriculture sector across the globe.
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Combine Harvesters Market Trends and Drivers:
The rising global population is propelling the need for crops and cereals and improved farm productivity, which is among the primary factors driving the combine harvesters market. Besides this, the emerging trend of urbanization, the shifting farmer preferences towards mechanized practices, and the various advancements in agricultural technology are further augmenting the market growth. Moreover, the launch of several policies by the government bodies, including lending procedures for procurement of machinery and organizing necessary training programs to educate farmers about effective farming practices and the benefits of using combine harvesters, is also catalyzing the global market. Apart from this, the escalating sales of advanced machines and tools, owing to the labor scarcity across countries, are acting as significant growth-inducing factors. Furthermore, the utilization of novel strategies by the leading players for installing new production plants is expected to bolster the combine harvesters market in the coming years.
Leading Companies Operating in the Global Combine Harvesters Industry:
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If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
About Us:
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC's information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company's expertise.
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