The global corn combine harvester market is expected to display higher growth rate over the upcoming years. Rapid surge in the market is credited to the recent technological advancement in agriculture sector and lack of availability of labor in North America and European region. However, presence of ample labor force, cheaper labor costs, and high initial cost of machines is expected to restrain market growth, particularly in Asia Pacific and Africa regions. Globally, corn combine harvester market is predicted to generate massive revenue over the forecast period, providing numerous opportunities for industry participants to invest in research and development of corn combine harvester.
Upgradation of existing product lines and addition of exclusive features such as telemetry and intelligent sensing technologies is expected to drive large number of customers over the coming years. Development of modern combined harvesters that improves overall agriculture productivity, efficiency, and convenience is fostering market demand in the upcoming years. Modern combine harvesters consists of various networking technologies such as GPS and navigation system. These technologies allow farmers to identify the precise location of the machine and carry out the harvesting operations with a high accuracy.
Increasing demand from Asia-Pacific region due to the growing importance towards incorporation of advanced agriculture equipment is anticipated to boost market growth over the forecast period. Growing product awareness among farmers and shifting trend towards self-propelled combine harvesters are expected to fuel market demand for corn combine harvester in the upcoming years. Presence of number of tier-1 manufacturers in the North America and European region is anticipated to boost the growth of corn combine harvester market in the near future.
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The market is broadly categorized into major segments based on the application type such as self-propelled corn combine harvester, track corn combine harvester, mini corn combine harvester and tractor-propelled corn combine harvester. Self-propelled corn combine harvester segment is growing rapidly in the corn combine harvester market with substantial revenue generation in the last few years.
The market is divided by region as North America, Europe, Asia-Pacific, Latin America and Africa. North America has shown major growth in recent years owing to the rise in implementation of latest technologies in agriculture sector, surge in number of research & development activities and existence of well-established industrial infrastructure in the region. In European region, Germany, France, and United Kingdom are projected to witness steady growth.
Asia-Pacific region is estimated to hold a major share in the corn combine harvester industry with massive growth in forecast period. Countries such as India, China and Singapore are leading the Asia-Pacific market with strong economic growth, rising agriculture production, favorable government policies regarding use of farming equipment, and significant investment by leading industry players considering potential growth opportunities in the region.
The key players in the corn combine harvester market are AGCO Corp., The Bernard Krone Holding GmbH & Co., KG, Claas Corp., CNH Industrial N.V., Deere & Co., Kubota, Dewulf, Foton Lovol International Heavy Industry Co., Ltd., Lely Group LLC and Ploeger Agro B.V.
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