A rise in demand for food due to the country's steadily increasing population, rising prices for agricultural equipment from new players entering the market, an increase in the availability of financing options, and the adoption of driverless tractors are all expected to boost the Philippines' agricultural equipment market. It is anticipated that a number of government support programs, including the Rural Development Project and Inclusive Partnerships for Agricultural Competitiveness Project, will help the agricultural sector flourish, hence boosting demand for agricultural equipment.

The market is expanding due to a growing acceptance of the use of new equipment. The COVID-19 pandemic's escalating labour scarcity is also boosting sales of agricultural equipment in the Philippines. The worldwide health crises, however, resulted in a significant fall in the market. The nationwide lockdown, supported by international restrictions on the transit of commodities, caused a disturbance in the supply chain, which further slowed the market's expansion.

The Philippines Agricultural Equipment Market study provides market data by competitive landscape, revenue analysis, market segments and detailed analysis of key market players such as; CNH (Case IH & New Holland), John Deere, Kubota, Landini, Massey Ferguson, McCormick, Yanmar.

SPER Market Research study aims to provide market dynamics, demand and supply with yearly forecast to 2032. This report provides data for growth estimates and forecasts for product type segment –By Product Type {Combine Harvesters, Planters, Seeders and Transplanters, Tillage Equipment (Ploughs, Harrows and Rotovators), Tractors}, By Tractor Segment (Upto 60 Hp, between 61 – 130 Hp, above 130 Hp), By Production (Domestically Manufactured, Imported).

This report also provides the data for key regional segments of Luzon, Mindanao, Visayas. 

This study also encompasses various drivers and restraining factors of this market for the forecast period. Various growth opportunities are also discussed in the report.