Asia-Pacific Agricultural Equipment Market Growth, Size, Trends, Revenue and Future Outlook
Asia-Pacific Agricultural Equipment Market Size- By Product Type- Regional Outlook, Competitive Strategies and Segment Forecast to 2033
| Published: Jul-2024 | Report ID: AGRI2428 | Pages: 1 - 157 | Formats*: |
| Category : Agriculture | |||
Asia-Pacific Agricultural Equipment Market Introduction and Overview
According to SPER Market Research, the Asia-Pacific Agricultural Equipment Market is estimated to reach USD 149.9 billion by 2033 with a CAGR 5.35%.
The report includes an in-depth analysis of the Asia-Pacific Agricultural Equipment Market, including market size and trends, product mix, distribution channels, and supplier analysis. Agriculture equipment refers to the machinery or manufactured components that increase land productivity in agro-based economies worldwide. Farmers' or landowners' propensity to incorporate automation technology into their conventional farming is directly encouraged by the equipment. Further motivating clients to take advantage of the advantages of updated machinery in farming applications are the worldwide shortage of labor and high costs associated with maintaining cattle on construction sites.
- November 2022: At the CII Agro Tech India 2022 show, VST Tillers Tractors Ltd. and ZETOR TRACTORS announced the introduction of two new tractors. They state that VST & Zetor created these two new tractors, with 45 and 50 horsepower, at their facilities in the Czech Republic and India.
- September 2022: At the 7th EIMA Agrimach Expo in Bengaluru, New Holland Agriculture, a trademark of CNH Industrial, announced the introduction of the Blue Series SIMBA and its entry into the sub-30 HP compact tractor category in India. A new addition to the company's Blue Series lineup, the tractor is meant for specialized uses including rotavating, spraying, and inter-row cultivation in cotton fields, vineyards, orchards, and sugarcane fields, among other places.
Market Opportunities and Challenges
Opportunities: The main drivers of the need for agricultural machinery are the dwindling labor force and farmers' growing awareness of innovative farming techniques. Additionally, the revenue share is probably going to expand faster due to the rise in technological developments in agricultural equipment and the rise in demand for pre-owned equipment. Furthermore, the market is expanding due to population expansion and a rising demand for agricultural products, particularly from China and India. Additionally, in an effort to improve production and efficiency in their fields, farmers have begun implementing significant high-tech farming and agricultural technology. For example, many farmers have begun to use equipment with sensors that collect soil nutrient measurement variables, like soil temperature and acidity, and use resource maps to acquire topography data.
Challenges: The growth of agriculture and the technological advancements in the agricultural industry raise input costs associated with farm equipment commissioning. In addition, using such automated farming equipment means higher maintenance and operating costs, which lowers income from farming activities. With the complex machine involved in farming operations, farmers were worried about the necessity for skilled personnel to oversee and manage operations. Agriculture equipment adoption and use in remote or impoverished locations might be hampered by inadequate infrastructure, such as roads, transit networks, and rural electrification. Farmer access to markets, equipment, replacement parts, and post-purchase assistance services is restricted by inadequate infrastructure, which limits the potential advantages of modernization and mechanization in these areas.
Market Competitive Landscape
The market is extremely intense, with a small number of well-known companies holding more than half of the market. The three main tactics used by the top businesses in the industry under investigation are partnerships, acquisitions, and the development of new products. Among the top companies in this area are Mahindra & Mahindra Ltd., Kubota Tractor Corp., International Tractors Limited (Sonalika), Deere & Company, and AGCO Corp.
Scope of the report:
| Report Metric | Details |
| Market size available for years | 2020-2033 |
| Base year considered | 2023 |
| Forecast period | 2024-2033 |
| Segments covered | By Product Type |
| Regions covered | Australia, China, India, Japan, South Korea, Rest of Asia-Pacific |
| Companies Covered | AGCO Corp., AMAZONEN-Werke H. Dreyer GmbH & Company KG, CNH Industrial NV, Deere and Company, Escorts Limited, International tractors limited, Iseki & Co. Ltd, Kubota Corporation, Mahindra & Mahindra Ltd, Netafim Limited, YANMAR Co. Ltd, and Others. |
COVID-19 Impact on Asia-Pacific Agricultural Equipment Market
The COVID-19 pandemic caused significant disruptions to the agriculture industry and spread rapidly due to unstable prices for vital agricultural commodities. Due to a decrease in operations in labor-intensive agricultural nations like China and India, this has given the agricultural industry a downhill momentum. But the post-pandemic widening of the supply-demand disparity in the fossil fuel sector is driving greater ethanol demand. Furthermore, a favorable atmosphere for market growth has been generated by the growing automation of the Internet of Things and the incorporation of wireless equipment types into product portfolios.
Key Target Audience:
- Farmers and Agricultural Producers
- Agricultural Cooperatives
- Agricultural Equipment Manufacturers
- Government Agencies and Regulatory Bodies
- Agricultural Research Institutions
- Agricultural Equipment Distributors and Dealers
- Financial Institutions and Investors
- Industry Associations and Trade Organizations
Our in-depth analysis of the Asia-Pacific Agricultural Equipment Market includes the following segments:
| By Product Type: |
|
Key Topics Covered in the Report:
- Asia-Pacific Agricultural Equipment Market Size (FY’2024-FY’2033)
- Overview of Asia-Pacific Agricultural Equipment Market
- Segmentation of Asia-Pacific Agricultural Equipment Market By Product Type (Tractors, Plowing and Cultivating Machinery, Planting Machinery, Harvesting Machinery, Haying Machinery, Irrigation Machinery, Others)
- Expansion Analysis of Asia-Pacific Agricultural Equipment Market
- Problems and Obstacles in Asia-Pacific Agricultural Equipment Market
- Competitive Landscape in the Asia-Pacific Agricultural Equipment Market
- Impact of COVID-19 and Demonetization on Asia-Pacific Agricultural Equipment Market
- Details on Current Investment in Asia-Pacific Agricultural Equipment Market
- Competitive Analysis of Asia-Pacific Agricultural Equipment Market
- Prominent Players in the Asia-Pacific Agricultural Equipment Market
- SWOT Analysis of Asia-Pacific Agricultural Equipment Market
- Asia-Pacific Agricultural Equipment Market Future Outlook and Projections (FY’2024-FY’2033)
- Recommendations from Analyst
1. Introduction
1.1. Scope of the report1.2. Market segment analysis
2. Research Methodology
2.1. Research data source2.1.1. Secondary Data2.1.2. Primary Data2.1.3. SPER’s internal database2.1.4. Premium insight from KOL’s2.2. Market size estimation2.2.1. Top-down and Bottom-up approach2.3. Data triangulation
3. Executive Summary
4. Market Dynamics
4.1. Driver, Restraint, Opportunity and Challenges analysis4.1.1. Drivers4.1.2. Restraints4.1.3. Opportunities4.1.4. Challenges4.2. COVID-19 Impacts of the Asia-Pacific Agricultural Equipment Market
5. Market variable and outlook
5.1. SWOT Analysis5.1.1. Strengths5.1.2. Weaknesses5.1.3. Opportunities5.1.4. Threats5.2. PESTEL Analysis5.2.1. Political Landscape5.2.2. Economic Landscape5.2.3. Social Landscape5.2.4. Technological Landscape5.2.5. Environmental Landscape5.2.6. Legal Landscape5.3. PORTER’s Five Forces5.3.1. Bargaining power of suppliers5.3.2. Bargaining power of buyers5.3.3. Threat of Substitute5.3.4. Threat of new entrant5.3.5. Competitive rivalry5.4. Heat Map Analysis
6. Competitive Landscape
6.1. Asia-Pacific Agricultural Equipment Market Manufacturing Base Distribution, Sales Area, Product Type6.2. Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in Asia-Pacific Agricultural Equipment Market
7. Asia-Pacific Agricultural Equipment Market, By Product Type (USD Million) 2020-2033
7.1. Asia-Pacific Agricultural Equipment Market Size, Share and Forecast, By Product Type, 2020-20267.2. Asia-Pacific Agricultural Equipment Market Size, Share and Forecast, By Product Type, 2027-20337.3. Tractors7.4. Plowing and Cultivating Machinery7.5. Planting Machinery7.6. Harvesting Machinery7.7. Haying Machinery7.8. Irrigation Machinery7.9. Others
8. Asia-Pacific Agricultural Equipment Market Forecast, 2020-2033 (USD Million)
8.1. Asia-Pacific Agricultural Equipment Market Size and Market Share
9. Asia-Pacific Agricultural Equipment Market, By Region, 2020-2033 (USD Million)
9.1. Asia-Pacific Agricultural Equipment Market Size and Market Share By Region (2020-2026)9.2. Asia-Pacific Agricultural Equipment Market Size and Market Share By Region (2027-2033)9.3. Australia9.4. China9.5. India9.6. Japan9.7. South Korea9.8. Rest of Asia-Pacific
10. Company Profile
10.1. AGCO Corp.10.1.1. Company details10.1.2. Financial outlook10.1.3. Product summary10.1.4. Recent developments10.2. AMAZONEN-Werke H. Dreyer GmbH & Company KG10.2.1. Company details10.2.2. Financial outlook10.2.3. Product summary10.2.4. Recent developments10.3. CNH Industrial NV10.3.1. Company details10.3.2. Financial outlook10.3.3. Product summary10.3.4. Recent developments10.4. Deere and Company10.4.1. Company details10.4.2. Financial outlook10.4.3. Product summary10.4.4. Recent developments10.5. Escorts Limited10.5.1. Company details10.5.2. Financial outlook10.5.3. Product summary10.5.4. Recent developments10.6. International tractors limited10.6.1. Company details10.6.2. Financial outlook10.6.3. Product summary10.6.4. Recent developments10.7. Iseki & Co. Ltd10.7.1. Company details10.7.2. Financial outlook10.7.3. Product summary10.7.4. Recent developments10.8. Kubota Corporation10.8.1. Company details10.8.2. Financial outlook10.8.3. Product summary10.8.4. Recent developments10.9. Mahindra & Mahindra Ltd10.9.1. Company details10.9.2. Financial outlook10.9.3. Product summary10.9.4. Recent developments10.10. Netafim Limited10.10.1. Company details10.10.2. Financial outlook10.10.3. Product summary10.10.4. Recent developments10.11. YANMAR Co. Ltd10.11.1. Company details10.11.2. Financial outlook10.11.3. Product summary10.11.4. Recent developments10.12. Others
11. Conclusion
12. Reference Links
13. List of Abbreviations
SPER Market Research’s methodology uses great emphasis on primary research to ensure that the market intelligence insights are up to date, reliable and accurate. Primary interviews are done with players involved in each phase of a supply chain to analyze the market forecasting. The secondary research method is used to help you fully understand how the future markets and the spending patterns look likes.
The report is based on in-depth qualitative and quantitative analysis of the Product Market. The quantitative analysis involves the application of various projection and sampling techniques. The qualitative analysis involves primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes are validated through experts opinion. Our research methodology entails an ideal mixture of primary and secondary initiatives.
Frequently Asked Questions About This Report
Asia-Pacific Agricultural Equipment Market is projected to reach USD 149.9 billion by 2033, growing at a CAGR of 5.35% during the forecast period.
Asia-Pacific Agricultural Equipment Market grew in market size from 2024. The Market is expected to reach USD 149.9 billion by 2033, at a CAGR of 5.35% during the forecast period.
Asia-Pacific Agricultural Equipment Market CAGR of 5.35% during the forecast period.
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Asia-Pacific Agricultural Equipment Market size is USD 149.9 billion from 2024 to 2033.
Asia-Pacific Agricultural Equipment Market Segment is Covered By Product Type.
The Asia-Pacific region is anticipated to have the highest market share in Asia-Pacific Agricultural Equipment Market.
The key players in the market include Companies Covered AGCO Corp., AMAZONEN-Werke H. Dreyer GmbH & Company KG, CNH Industrial NV, Deere and Company, Escorts Limited, International tractors limited, Iseki & Co. Ltd, Kubota Corporation, Mahindra & Mahindra Ltd, Netafim Limited, YANMAR Co. Ltd, and Others.
The main drivers of the need for agricultural machinery are the dwindling labor force and farmers' growing awareness of innovative farming techniques. Additionally, the revenue share is probably going to expand faster due to the rise in technological developments in agricultural equipment and the rise in demand for pre-owned equipment.
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