Sugarcane Harvesters Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Sugarcane Harvesters Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The global sugarcane harvesters market is expected to register a CAGR of 11.09% during the forecast period (2020-2025).

Key Highlights

• In 2019, Asia-Pacific was the fastest geographical segment of the market studied. The driving factor that influenced the growth of the market are technological innovations with respect to the specific needs of farmers.
• Deere & Company, CNH Industrial N.V., AGCO Corporation and Wuhan Machine Equipment Co Ltd are some of the prominent players who are operating in this market.

Key Market TrendsDecline in Farm Labor Is Driving the Market for Sugarcane Harvesters

On an average, developing economies have larger percentages of the population dependent on agriculture. However, the percentages have decreased over time as a large number of people are migrating to the urban area every year. For an instance, According to the World Bank Report, the world's rural population has declined from 67% in 1960 to 45% in 2017. According to Indian Council of Food and Agriculture, the percentage of agriculture workers in India is estimated to decline by 25.7% in 2050. This has led to increasing demand for agricultural equipment in the country. Due to decreasing agricultural labor, the prices of farm labor are rising. This resulted in increase in demand for agricultural machineries such as sugar harvesters and is expected to grow further during the forecast period.

Asia-Pacific is the Fastest Growing market

Asia-Pacific region is expected to be the fastest growing market by 2025 with India being the dominant market in this region. The driving factor, which influenced the growth of the market, is technological innovations with respect to the specific needs of indian farmers. The decline in agriculture workforce in countires such as India and China is making farmers highly dependent on farming machinery especially in post-harvesting activities. With supportive environment in terms of subsidies by various government policies is encouraging farmers to purchase farming machinery and the demand is projected to grow further during the forecast period.

Competitive Landscape

The global sugarcane harvesters market is fragmented in nature with various small and medium-sized companies resulting in stiff competition in the market. Deere & Company, CNH Industrial N.V. , AGCO Corporation and Wuhan Machine Equipment Co Ltd are some of the prominent players who are operating in this market. These players are expanding their presence in many regional markets by partnering with the domestic manufacturers to strengthen their foothold in the maket.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

Companies Mentioned

New Holland Agriculture
Massey Ferguson
AGREEVISION
Tropical agricultural Machine Group
Deere & Company
Tirth Agro Technology
Zoomlion Heavy Machinery
Weldcraft Industries
Orchard Machinery
Case IH
AGCO

Please note: This publisher does offer titles that are created upon receipt of order. If you are purchasing a PDF Email Delivery option above, the report will take approximately 2 business days to prepare and deliver.