APAC Farm Equipment Market to Witness Significant Growth through 2025

Increasing disposable income of farmers is expected to drive the growth of Asia Pacific farm equipment market

According to TechSci Research report, “Asia Pacific Farm Equipment Market By Type (Tractors, Harvesters, Planting Equipment, Irrigation & Crop Processing Equipment, Spraying Equipment, Hay & Forage Equipment, Others), By Automation (Automatic, Semi-Automatic, Manual), By Sales Channel (OEMs v/s Aftermarket), By Application (Land Development & Seed Bed Preparation, Sowing & Planting, Weed Cultivation, Plant Protection, Harvesting & Threshing, Post-harvest & Agro Processing, Others), By Country, Forecast & Opportunities, 2025”, the Asia Pacific farm equipment market is expected to grow at a formidable rate during the forecast period on account of the increasing awareness among the farmers pertaining to smart agricultural practices, wherein they can minimize their efforts and increase the yield. This has also increased in the demand of supportive equipment and machinery required in the farm, which in turn is expected to propel the market growth through 2025. Furthermore, the governments across the region are fixing minimum crop price to stabilize the economic status of the farmers, thereby fueling the market growth. Also, decreasing per capita land has led to the widespread adoption of agricultural equipment and machinery which can help in increasing the yields on a small piece of land also. Furthermore, trade activities, especially in countries like India and China are expected to boost the market as both the countries are exporters of various agricultural commodities such as fruits & vegetables, jute, cotton, among others. This in turn is expected to positively influence the market growth during the forecast period. Moreover, technological advancements and new product launches by the major players operating in the market is expected to create lucrative opportunities for growth until 2025. However, high cost of agricultural equipment might hamper the market growth owing to the affordability and budget constraints. Besides, lack of awareness pertaining to the availability of agricultural machinery and equipment might further restrict the market growth. Also, dearth of skilled professionals to use these farm equipment might further impede the market growth across the region. Moreover, availability of farm equipment and machinery on rent might further obstructs the market growth until 2025.

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The Asia Pacific farm equipment market is segmented based on type, automation, sales channel, application, company and country. Based on type, the market can be categorized into tractors, harvesters, planting equipment, irrigation & crop processing equipment, spraying equipment, hay & forage equipment and others. Among these, the harvesters segment is expected to witness significant growth in the market on account of their widespread use in performing more than one activity or process in a single step. This in turn helps in saving cost, time, effort and increases overall productivity. Based on sales channel, the market can be split into OEM and aftermarket. Here, the OEM segment is expected to dominate the market on account of the large scale production of agricultural equipment in the country both by the global players and local players. On the other hand, the aftermarket segment is expected to witness significant growth in the market owing to the emergence of several aftermarket centers, especially in countries like China and India. Based on application, the market can be fragmented into land development & seed bed preparation, sowing & planting, weed cultivation, plant protection, harvesting & threshing, post-harvest & agro processing and others. The land development & seed bed preparation segment is expected to dominate the market on account of the growing need to maintain soil health and nutritional profile in order to increase overall yield.

John Deere (Deere & Company), AGCO Corporation, CNH Industrial (India) Pvt. Ltd, Kubota Corporation, Mahindra & Mahindra Limited, SDF Group, J C Bamford Excavators Limited, Iseki & Co. Ltd., China National Machinery Industry Corporation Ltd. (Sinomach), Escorts Group and others are some of the leading players operating in Asia Pacific farm equipment market. The companies operating in the market are using organic strategies such as product launches, mergers and collaborations to boost their share.

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“Asia Pacific farm equipment market is expected to witness significant growth during the forecast period. Japan has the highest level of mechanization across agricultural industry followed by South Korea, China, Thailand, Vietnam, and India. Australia has witnessed largest development in farm mechanization and farm equipment production. Additionally, the market growth in the region is supported by the government policies and subsidies, availability of low interest loans on the purchase of agricultural machinery and equipment. Furthermore, automation and modernization across the agricultural industry is further expected to propel the market growth through 2025. Also, presence of major players operating in the market such as John Deere, AGCO Corporation, Mahindra & Mahindra, among others in the region, is further expected to create lucrative opportunities for the market growth over the next few years.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

“Asia Pacific Farm Equipment Market By Type (Tractors, Harvesters, Planting Equipment, Irrigation & Crop Processing Equipment, Spraying Equipment, Hay & Forage Equipment, Others), By Automation (Automatic, Semi-Automatic, Manual), By Sales Channel (OEMs v/s Aftermarket), By Application (Land Development & Seed Bed Preparation, Sowing & Planting, Weed Cultivation, Plant Protection, Harvesting & Threshing, Post-harvest & Agro Processing, Others), By Country, Forecast & Opportunities, 2025”, has evaluated the future growth potential of Asia Pacific farm equipment market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities in Asia Pacific farm equipment market.

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Source : TechSci Research