Press release
Sugarcane Harvesters Market Competitive Insights and Precise Outlook 2020-2025
The global sugarcane harvesters market is expected to register a CAGR of 11.09% during the forecast period (2020-2025).
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Key Market Players:
Deere & Company, CNH Industrial N.V. , AGCO Corporation and Wuhan Machine Equipment Co Ltd and Other
Industry News
October 14, 2019: Deere & Company has signed an agreement to acquire Unimil, a privately-held Brazilian company in the aftermarket service parts business for sugarcane harvesters.
"The decision to acquire this company in the aftermarket parts business emphasizes our commitment to customers," said Cory Reed, president of Deere's Worldwide Agriculture and Turf Division in the Americas. "Unimil has earned the confidence of customers in the sugarcane parts business by providing excellent service and products."
Key Market Trends
Decline 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.
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The market factors explained in the report:
Market Overview: It includes Sugarcane Harvesters Market study scope, top key players, segments, market analysis by application, market analysis by type, and other chapters that give an overview of the research study.
Executive Summary: The Sugarcane Harvesters Market report evaluated key market features, including revenue, price, capacity, capacity utilization rate, gross, production, production rate, consumption, import/export, supply/demand, cost, market share, CAGR, and gross margin. In addition, the study offers a comprehensive study of the key market dynamics and their latest trends, along with pertinent market segments and sub-segments.
Regional Study: All of the regions and countries analyzed in the Sugarcane Harvesters Market report is studied on the basis of market size by application, the market size by product, key players, and market forecast.
Key Players: This part of the Sugarcane Harvesters Market report discusses expansion plans of companies, key mergers and acquisitions, funding and investment analysis, company establishment dates, revenues of manufacturers, and their areas served and manufacturing bases.
Market Forecast: Here, the report offers a complete forecast of the global Sugarcane Harvesters Market by product, application, and region. It also offers global sales and revenue forecasts for all years of the forecast period.
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