Technavio analysts forecast the global cotton harvester market to grow at a CAGR close to 4% during the forecast period, according to their latest market research report.
The advent of new technologies for cotton harvesters is one of the major trends being witnessed in the global cotton harvester market 2018-2022. Research on technologies for automating cotton harvesting with robots is ongoing. A part of research efforts deals with technologies and methods to distinguish cotton bolls from plants.
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According to Technavio analysts, one of the key factors contributing to the growth of the global cotton harvester market is the increasing consumption of cotton and related products:
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Global cotton harvester market: Increasing global consumption of cotton and related products
According to the USDA, global cotton consumption is expected to rise by 2% due to the increasing area of cotton farming in the cotton-producing countries such as Brazil during 2018-2019 as compared with 2017-2018. Cotton farming is increasing because of the declining cotton fiber prices and increased adoption of material over polyester by textile mills in countries such as China.
According to a senior analyst at Technavio, The application of cotton include apparels such as T-shirts and shirts, trousers, dressers, and innerwear. It is also used for home furnishings such as in bed linens and industrial uses such as medical supplies, industrial thread, wall coverings, and zips
Global cotton harvester market: Segmentation analysis
The global cotton harvester market research report provides market segmentation by product (pickers and strippers) and by region (the Americas, EMEA, and APAC). It provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
Of the two major products, the pickers segment held the largest market share in 2017, contributing close to 63% of the market. Pickers are extensively used due to their ability to clean pick cotton bolls. This product segment will dominate the global market throughout the forecast period.
APAC held the largest share of the market in 2017, accounting for close to 49% share. It was followed by the Americas and EMEA respectively. APAC had the highest share owing to the widespread adoption of mechanized cotton harvesting in Australia and increasing adoption in China and India.
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Five Forces Analysis
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