Asia Pacific Agricultural Harvesting Machinery Market 2021-2027 Detailed Analysis And Growth Strategies, Regional And Recent Scenario Analysis

Precision Business Insights published a research report on “Asia Pacific Agricultural Harvesting Machinery Market By Category (Combine harvester, Forage Harvester), By Type of Machinery (Grain Harvesting Machine, Threashers, Crop Harvesting Machine, Vegetables Harvesting Machine, Root crop Harvesting Machine), By Type of Crop (Forage crops, Grains and Cereals, Vegetable and Fruits, Others), and Geography - Global/Region/Country Forecast to 2027".

Agricultural machineries are machines that are used to develop agricultural land for a variety of purposes, including organic and inorganic farming. Leading manufacturing organizations are increasing their spending in different research and development operations in the global agricultural machinery industry. In the year 2018, the agricultural machinery market had a market value of USD 203.30 billion. During the projected period, from 2020 to 2027, it is expected to increase at a CAGR of 7.62 percent.

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The APAC agricultural equipment market is expected to develop at a healthy rate during the forecast period, as the area transitions from traditional farming methods to automated farming practices. The declining number of workers engaged in agricultural practices, rising labor costs, government subsidies on agriculture machine purchases, increased demand for operational efficiency, and modernization of the agriculture sector are expected to drive the market for agriculture equipment in the Asia Pacific region over the forecast period. Increased government assistance in the form of subsidies on the purchase of agricultural equipment and the establishment of a minimum crop price to stabilize farmers' income is one of the main reasons for the expansion. India's Sub-Mission on Agriculture Mechanization Scheme and Indonesia's Agriculture Work Plan 2019 are two examples. Rapid urbanization, growing food consumption, migration and ageing of the rural population are likely to drive the APAC agricultural equipment market over the forecast period, resulting in a decrease in the number of farmers and a rise in the region's reliance on farm mechanization.
The Asia-Pacific Agricultural Machinery Market is categorized by Type which is further divided into Ploughing and Cultivating Machinery, Tractors, Irrigation Machinery, Planting Machinery, Harvesting Machinery, and Others.

Due to the market in these nations has already achieved saturation, countries like Japan and China are expected to develop at a slower rate than the rest of the APAC region. However, from 2019 onwards, the market is expected to see a period of recovery. China accounts for the majority of the revenue generated in the Asia Pacific farm equipment industry. In the Asia-Pacific area, India and China together account for 60% of farm machinery sales. The need for agriculture mechanization in India and China has been steadily rising. The primary market drivers include a lack of manpower, the desire to boost agricultural production, contract farming, and government incentives. A high labor salary is also a significant market determinant.

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There are some major players working in agricultural harvesting machinery market, which include AGCO (U.S) Bernard Krone Holding SE & Co.KG (Germany) CLAAS (Germany) CNH Industrial (U.K) Deere & Company (U.S.) Mahindra Group (India) China National Machinery Industry Corporation (China) Valmont Industries Incorporated (U.S.) Agrostroj Pelhrimov A.s(Czech Republic) Concern Tractor Plants (Russia)

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