LONDON--(BUSINESS WIRE)--The global sugarcane harvester market is expected to post a CAGR of close to 11% during the period 2018-2022, according to the latest market research report by Technavio.
A key factor driving the growth of the market is the rising need to reduce manual intervention in sugarcane harvesting. The availability of agricultural workers is limited in several countries across the world. Hence, farmers must adopt labor-saving technologies. The governments of several countries are helping farmers address the shortage in the availability of agricultural workers. For instance, in December 2016, in India, the Government of Karnataka provided 12 new units of sugarcane harvesters to farmers to address the shortage of workers and increase profitability. Vendors offer sugarcane harvesters of different capacities to address the varying needs of farmers based on their land area. Thus, the rising need to reduce manual intervention in sugarcane harvesting will increase the adoption of such products and drive the growth of the global sugarcane harvester market during the forecast period.
This market research report on the global sugarcane harvester market 2018-2022 also provides an analysis of the most important trends expected to impact the market outlook during the forecast period.
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In this report, Technavio highlights the advent of fuel-efficient sugarcane harvesters as one of the key emerging trends in the global sugarcane harvester market:
Global sugarcane harvester market: Advent of fuel-efficient sugarcane harvesters
The cost of fuel is a major part of the operations of sugarcane harvesters. The cost of fuel is rising consistently in some countries, which is increasing the cost of operating sugarcane harvesters and reducing the profitability of farmers. Hence, some vendors have developed fuel-efficient sugarcane harvesters. For instance, Deere & Company provides a smart mode to automatically reduce the speed of the primary extractor to a preset minimum to ensure economic operations. The exclusive field cruise allows the operator to set the engine speed to a minimum level in low tonnage fields to save fuel. CANETEC designed its AX7500 sugarcane harvester with an electronically controlled engine and efficient cooling packages to improve fuel efficiency. The use of such products will reduce the consumption of fuel. Hence, their adoption will increase in several countries during the forecast period.
“The presence of government initiatives to develop sugarcane industry, the preference for self-cleaning sugarcane harvesters, and the focus on increasing profitability are some other major aspects that are expected to boost the growth of the global sugarcane harvester market,” says a senior analyst at Technavio.
Global sugarcane harvester market: Segmentation analysis
This market research report segments the global sugarcane harvester market by harvesting type (whole-stalk sugarcane harvester and chopper sugarcane harvesters), product design (self-propelled and tractor-mounted sugarcane harvesters), and geographical regions (APAC, EMEA, and the Americas).
The Americas led the market in 2017 with a market share of close to 48%, followed by APAC and EMEA respectively. During the forecast period, the APAC region is expected to register the highest incremental growth of over 1%.
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Market Landscape
- Market ecosystem
- Market characteristics
- Market segmentation analysis
Market Sizing
- Market definition
- Market size and forecast
Five Forces Analysis
Market Segmentation
Geographical Segmentation
- Regional comparison
- Key leading countries
Market Drivers
Market Challenges
Market Trends
Vendor Landscape
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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