Combine Harvester Market

The article discusses the increasing demand for combine harvester-threshers worldwide, with forecasts showing a positive trend in market performance. Consumption is expected to grow with a CAGR of +3.3% reaching 259K units by 2030. The global market value is projected to increase to $22.4B by the end of 2030. The article also highlights key points such as country-specific consumption and production data, import and export trends, as well as average prices and growth rates in the industry.

Market Forecast

Driven by increasing demand for combine harvester-threshers worldwide, the market is expected to continue an upward consumption trend over the next eight years. Market performance is forecast to accelerate, expanding with an anticipated CAGR of +3.3% for the period from 2022 to 2030, which is projected to bring the market volume to 259K units by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +4.7% for the period from 2022 to 2030, which is projected to bring the market value to $22.4B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Combine Harvester-Threshers

In 2022, the amount of combine harvester-threshers consumed worldwide declined to 199K units, with a decrease of -7% on the year before. The total consumption volume increased at an average annual rate of +1.7% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, global consumption reached the peak volume at 224K units in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

The global combine harvester market size reduced slightly to $15.5B in 2022, leveling off at the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). The market value increased at an average annual rate of +1.6% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Global consumption peaked at $16.1B in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Consumption By Country

The countries with the highest volumes of consumption in 2022 were China (39K units), the United States (23K units) and India (16K units), with a combined 39% share of global consumption.

From 2012 to 2022, the biggest increases were recorded for India (with a CAGR of +16.8%), while consumption for the other global leaders experienced more modest paces of growth.

In value terms, the United States ($3.8B) led the market, alone. The second position in the ranking was taken by Canada ($1.4B). It was followed by Germany.

From 2012 to 2022, the average annual growth rate of value in the United States was relatively modest. The remaining consuming countries recorded the following average annual rates of market growth: Canada (+6.7% per year) and Germany (-1.7% per year).

The countries with the highest levels of combine harvester per capita consumption in 2022 were Canada (101 units per million persons), Thailand (101 units per million persons) and France (98 units per million persons).

From 2012 to 2022, the biggest increases were recorded for India (with a CAGR of +15.6%), while consumption for the other global leaders experienced more modest paces of growth.

Production

World Production of Combine Harvester-Threshers

In 2022, production of combine harvester-threshers decreased by -6.2% to 215K units for the first time since 2018, thus ending a three-year rising trend. In general, the total production indicated modest growth from 2012 to 2022: its volume increased at an average annual rate of +1.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2020 with an increase of 23%. Over the period under review, global production attained the peak volume at 229K units in 2021, and then contracted in the following year.

In value terms, combine harvester production shrank slightly to $15.7B in 2022 estimated in export price. The total output value increased at an average annual rate of +1.3% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2017 when the production volume increased by 31% against the previous year. Over the period under review, global production attained the maximum level at $16.5B in 2021, and then reduced slightly in the following year.

Production By Country

The countries with the highest volumes of production in 2022 were China (53K units), the United States (27K units) and India (25K units), together accounting for 49% of global production.

From 2012 to 2022, the biggest increases were recorded for India (with a CAGR of +19.0%), while production for the other global leaders experienced more modest paces of growth.

Imports

World Imports of Combine Harvester-Threshers

In 2022, global imports of combine harvester-threshers reduced to 54K units, waning by -10.3% on 2021 figures. The total import volume increased at an average annual rate of +1.4% over the period from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 with an increase of 24% against the previous year. As a result, imports reached the peak of 60K units, and then fell in the following year.

In value terms, combine harvester imports expanded notably to $5.3B in 2022. The total import value increased at an average annual rate of +1.7% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 when imports increased by 39% against the previous year. Global imports peaked in 2022 and are expected to retain growth in the near future.

Imports By Country

In 2022, India (5.4K units), Bangladesh (3.7K units), the United States (3K units), France (2.9K units), Canada (2.6K units), Ukraine (2.2K units), Spain (2.1K units), Poland (2K units), the Philippines (1.9K units), Cambodia (1.8K units), Mexico (1.5K units) and Australia (1.5K units) was the largest importer of combine harvester-threshers in the world, achieving 57% of total import. Pakistan (1.2K units) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Bangladesh (with a CAGR of +93.4%), while purchases for the other global leaders experienced more modest paces of growth.

In value terms, Canada ($946M) constitutes the largest market for imported combine harvester-threshers worldwide, comprising 18% of global imports. The second position in the ranking was held by Australia ($395M), with a 7.4% share of global imports. It was followed by the United States, with a 5.9% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Canada totaled +2.0%. The remaining importing countries recorded the following average annual rates of imports growth: Australia (+5.3% per year) and the United States (+11.4% per year).

Import Prices By Country

In 2022, the average combine harvester import price amounted to $99,374 per unit, increasing by 25% against the previous year. In general, the import price continues to indicate a relatively flat trend pattern. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Canada ($370,090 per unit), while Pakistan ($9,670 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Spain (+9.1%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Combine Harvester-Threshers

After five years of growth, overseas shipments of combine harvester-threshers decreased by -7.1% to 69K units in 2022. Over the period under review, exports, however, enjoyed pronounced growth. The growth pace was the most rapid in 2021 when exports increased by 61% against the previous year. As a result, the exports reached the peak of 74K units, and then declined in the following year.

In value terms, combine harvester exports rose notably to $5.4B in 2022. The total export value increased at an average annual rate of +1.3% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2021 with an increase of 32% against the previous year. Over the period under review, the global exports reached the peak figure in 2022 and are likely to see gradual growth in the near future.

Exports By Country

China (14K units) and India (14K units) represented roughly 41% of total exports in 2022. The United States (7.1K units) took the next position in the ranking, followed by Germany (6.6K units), Thailand (6.3K units), Belgium (3.7K units) and Poland (3.6K units). All these countries together took approx. 40% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by India (with a CAGR of +29.1%), while the other global leaders experienced more modest paces of growth.

In value terms, the United States ($1.4B), Germany ($1.4B) and Belgium ($816M) were the countries with the highest levels of exports in 2022, together comprising 67% of global exports. Poland, China, Thailand and India lagged somewhat behind, together accounting for a further 14%.

Thailand, with a CAGR of +13.9%, saw the highest growth rate of the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Export Prices By Country

The average combine harvester export price stood at $78,511 per unit in 2022, surging by 19% against the previous year. In general, the export price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 an increase of 23% against the previous year. The global export price peaked at $111,351 per unit in 2017; however, from 2018 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Belgium ($221,306 per unit), while India ($609 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+4.7%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform