Cane Harvesters Market Size, Share, Growth and Industry Analysis, By Type (Wheel Harvester and Crawler Harvester), By Application (Leasing Company and Farmer) Covid-19 Impact, Latest Trends, Segmentation, Driving Factors, Restraining Factors, Key Industry Players, Regional Insights, and Forecast To 2031

Updated On: 20 November 2023

Cane Harvesters Market Report Overview

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The global cane harvesters market size is expected to be USD 1296 million in 2022 and is projected to touch USD 3508.14 million by 2031, at a CAGR of 11.7% during the forecast period.

A machine used to harvest cane is called a cane harvester. The cane stalk is cut at the base and lifted off the ground by a system of rotating blades. Cane harvesters come in three different varieties: self-propelled, trailed, and mounted. In accordance with the requirements of the user, it also is available in various sizes. Stick shift cane harvesting is a common technique in developing nations like India and is mostly dependent on migrant labor.

COVID-19 Impact: Lack of Laborers to Harvest Created a Requirement for the Harvesting Machinery during the Pandemic 

The global COVID-19 pandemic has been unprecedented and staggering; with the cane harvesters market experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden spike in CAGR is attributable to demand returning to pre-pandemic levels once the pandemic is over.

The COVID-19 outbreak made it difficult for migrant workers to move, which made it difficult to find workers for harvesting. However, as a result of this circumstance, farmers now had a need for cane harvesting equipment and market entry chances. Over the previous ten years, migration from rural to urban areas has had little effect on labor constraints during the harvest season. The usage of cane harvesters has been encouraged by the government as a way of helping farmers purchase or rent equipment.

LATEST TRENDS

"New Two-Row Harvester Introduced in Brazil helps Double Production, Reduces Crop Loss and Consumes Lesser Fuel"

The first two-row cane harvesters in the market is the CH950. The CH950 is presently only offered in Brazil, where it was put to the test and proved the harvester doubles production by reducing crop losses by 60% while consuming 30% less fuel. Additionally, because it has two rows, the owner can cut back on labor costs by using fewer machine operators and less in-field transport equipment.

Cane Harvesters Market Segmentation

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• By Type

Based on type, the market is distributed into Wheel Harvester and Crawler Harvester

• By Application

Based on application, the market is divided into Leasing Company and Farmer.

DRIVING FACTORS

"Decline in Agricultural Labor has led to Farm Work being Expensive and Increase in Demand for Agricultural Machinery"

Large portions of the population in developing economies are typically dependent on agriculture. Since a lot of individuals move to urban areas every year, the percentage has, however, dropped with time. The ratio of agricultural employees in India is predicted to decrease by 25.7% by 2050, according to the Indian Council of Food and Agriculture. This has caused the nation's need for agricultural equipment to rise. Farm work is becoming more expensive as a result of a decline in agricultural labor. Due to this, demand for agricultural machinery such as cane harvesters increased and is predicted to continue to do so over the next few years.

"Investments in R&D and Technological Advancements has Helped Harvesting Equipment to Become more in Demand"

Harvesting equipment is predicted to become more in demand as a result of rising investments being made in research and development (R&D) projects to create cane harvesters, robots, and electrified harvesting equipment. A significant amount of money is being spent on research and technological development by the cane harvesters industry's producers. They are attempting to close the gap between the difficulties of a lack of workers for the agricultural fields and the fact that the farmers need solutions to these issues, which is where the machinery can help.

RESTRAINING FACTORS

"Limited Farming Spaces and High Investments Costs is Hinder the Market Extension of Cane Harvesters "

As the population continues to grow quickly, more land will be needed to develop housing for the populace; as a result, farmland that was previously used for housing construction has been covered. This indicates that the available land for farming is very small. Another factor impeding the cane harvesters market growth is the high cost of capital investments. Farmers are compelled to make large capital purchases of this equipment since labor is scarce and they must rely heavily on it. The farmers not only need money to buy this equipment, but they also need money to fix it if it breaks down. These factors can not only restrict the growth of this market but also discourage the farmers to some extent.

Cane Harvesters Market Regional Insights

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"Technological Advancements and Increasing Dependency on Farming Machinery is Encouraging Farmers to buy Equipment in this Region"

India is the largest market in the Asia Pacific region, which is predicted to have the quickest rate of growth throughout the projection period. Technological advancements with regard to the particular requirements of the Indian farmers are the driving element that has influenced the cane harvesters market share. Farmers in nations like India and China are becoming increasingly dependent on farming machinery, especially during post-harvest activities, as the number of agricultural workers in those nations is declining. Farmers are encouraged to buy farming equipment because of the favorable climate and government policies that provide subsidies, and the demand is expected to increase over the course of the projection period.

KEY INDUSTRY PLAYERS

"Collaborations with Domestic Producers and Strategic Acquisitions are Assisting these Players to Expand their Base  "

Due to the fragmented character of the global cane harvesters market and the presence of numerous small and medium-sized businesses, the industry is highly competitive. In order to increase their position in the market, major businesses are increasing their presence in numerous regional marketplaces by collaborating with domestic producers. In addition, they are implementing strategic mergers and acquisitions that will assist these businesses expand their consumer bases and product lines.

List of Market Players Profiled

• John Deere (U.S.)
• CNH Industrial N.V. (U.K.)
• AGCO Corporation (U.S.)
• Jatco Incorporated (U.S.)
• Chenhan Technology (China)
• Guangxi Liugong Group (China)
• ZOOMLION (China)
• Tirth Agro Technology Pvt. Ltd (India)

REPORT COVERAGE

This report covers the cane harvesters market. The CAGR expected to be in during the forecast period, and also the USD value in 2022 and what it is expected to be in 2028. The effect COVID-19 had on the market in the beginning of the pandemic. The latest trends taking place in this industry. The factors that are driving this market as well as the factors that are restraining the growth of industry. The segmentation of this market based on type and applications. The region leading in the industry and why they will continue to do so during the forecast period. Further, the key market players, what all is being done by them to stay ahead of their competition as well as retain their market positions. All these details are covered in the report.