Market Trends of India Combine Harvester Industry
High Cost of Farm Labor
Agriculture is a primary livelihood source for a large population group. As per the Indian Economic Survey 2020 -21, agriculture employs nearly 40% of the Indian workforce. The rise in urbanization trends observed in the country results from the expanding population. According to the World Bank data, urbanization increased from 34.9% to 35.3% from 2020 to 2021. This resulted in the migration of rural households to the nearby cities, leading to the scarcity of farm labor in the country. For instance, the workforce employed in agriculture dropped from 44.3% to 43.9% from 2020 to 2021, as per the World Bank data. The agricultural industry of the country heavily relies on manual labor, and the decreasing workforce in agriculture has led to major challenges in performing farming operations such as harvesting. As a solution to this problem, advanced harvesting machinery has become increasingly popular for performing these agricultural operations effectively and efficiently.
Increasing Consumption of Grain Crops
Cereals are an integral part of Indian cuisine, and the country is one of the largest producers and consumers of cereals and grains. The area harvested from cereals and grains is increasing in the country. For instance, according to FAOSTAT, the area harvested under cereals rose from 100 million hectares in 2020 to 102 million hectares by 2021. As combines are mainly used for cereals, the usage of these equipment is increasing, driving the market growth. Combine harvesters reduce farmers' dependency on laborers and save time, making harvesting more accessible and hassle-free and becoming one of the most valuable implements for Indian farmers. Therefore, the increasing availability of area harvested under grain crops, coupled with government initiatives and the launch of grain harvester products, is anticipated to propel the market growth during the forecast period.
