Southeast Asia Agriculture Equipment Market to Reach 1,692,905 Units by 2028. Innovations Boosting the Demand for Modern Farm Equipment - Arizton

Subheading: Indonesia accounted for 41.6% of the overall Southeast Asia agriculture equipment market share in 2021.

The Southeast Asia agriculture equipment market is expected to grow at a CAGR of 7.20% during the period 2022-2028.

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KEY HIGHLIGHTS OFFERED IN THE REPORT:
• The Southeast Asian agriculture equipment market by revenue is expected to reach approx. USD 13 billion by 2028.
• Among various equipment such as harvesting & threshing equipment, weeding & plant protection, seedling & irrigation equipment, and land preparation equipment segments, agriculture tractors are expected to witness high demand in Southeast Asian countries.
• The pandemic has triggered the demand for organic and healthy food consumption habits which is expected to push the demand for agriculture produce in the region. The governments are focusing on crop yields especially rice production which is expected to drive demand for rice planters and combine harvesters in the market.
• The COVID-19 had disrupted the supply chain resulted in shortage of raw materials and labors in Southeast Asian region. The pandemic has triggered labors shortage issues in countries such as Malaysia, Vietnam, and Thailand due to which there is high dependency on foreign labors especially in agriculture industry.
• The labor shortage issues push demand for digitalization and automation in agriculture equipment. The demand for auto steering, artificial intelligence is increasing in agriculture equipment such as sprayers and farm tractors.
• Southeast Asian countries such as Indonesia, Thailand, Myanmar, Vietnam, and Philippines rely on import of agriculture equipment from Malaysia, China, and Japan. To reduce the dependency on imported agriculture equipment, Indonesian government has invested USD 538 million for uplifting local production in 2021.
• Various Government initiatives of providing crop insurance, rising population and availability of large fertile land suitable farming are the main drivers for growing demand for agriculture equipment in the region during the forecast period. While excessive use of fertilizers, harsh climate and changing rainfall pattern can hamper the agriculture industry growth and demand for farm equipment in the region.
• John Deere, Kubota, and CNH Industrials holds more than 70% of market share in the region. Other prominent vendors are AGCO, Mahindra, CLAAS, Dongfeng, Changfa, Weichai Lovol, SDF Group, Yanmar and YTO Group in Southeast Asian Agriculture equipment market.

KEY OFFERINGS:
• Market Size & Forecast by Volume | 2022-2028
• Market Size & Forecast by Revenue | 2022-2028
• Market Dynamics - Leading trends, growth drivers, restraints, and investment opportunities
• Market Segmentation - A detailed analysis by type and countries
• Competitive Landscape - 12 major vendors and 5 distributors profile

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SOUTHEAST ASIA AGRICULTURE EQUIPMENT MARKET - SEGMENTATION
• Land preparation equipment expect to capture a major share in the Southeast Asia agriculture equipment market as they are used before seeding and planting of crops. Southeast Asian governments are taking initiatives to increase the crop yield. Land preparation equipment help to speed up crop cultivation by providing soft soil mass for transplanting and speeding.
• Thailand has approx. 20.4 million hectors of farmland, with 10 million hectors used for rice cultivation. The country relies heavily on the agriculture sectors, accounting for 6.2% of the total GDP. The Government has taken initiatives to encourage farmers to grow coffee, apples, and other temperate crops. These measures will increase the demand for machines to improve production efficiency.
• Seedling and planting equipment are important for cultivation of maize, soybeans, and peas. Irrigation is necessary for rice cultivation where optimum amount of water is required. Hence, the increasing demand for maize, soybeans, and peas along with increase in rice cultivation is likely to boost the demand for seedling and planting equipment.

Southeast Asia Agriculture Equipment Market by Type
• Land preparation equipment
o Cultivator
o Leveller
o Others
• Seedling Planting & Irrigation Equipment
o Planters
o Seed Drillers
o Irrigation Pump
• Weeding and Plant Protection Equipment
o Weeder
o Sprayers
• Harvesting and Threshing Equipment
o Combine Harvesters
o Threshers
o Others
• Agriculture Tractors
o Two-Wheeled
o Four-Wheeled
Southeast Asia Agriculture Equipment Market by Countries
• Indonesia
• Thailand
• Malaysia
• Philippines
• Vietnam
• Others

SOUTHEAST ASIA AGRICULTURE EQUIPMENT MARKET - DYNAMICS
Increased investment by Indonesian Government to upgrade local agriculture equipment production. The Indonesian government has invested USD 538 million for the development of agriculture equipment in the country. It focuses on local production of agriculture equipment to reduce dependency on China and other countries for agricultural imports. In 2020, the import of agriculture equipment hampered due to COVID-19 lockdowns in the country, which negatively affected the agriculture industry in the country and region. Therefore, the government has decided to invest in R&D and manufacture agriculture equipment locally. Rice production is one of the major agriculture products in the country. The government has planned to invest in R&D to increase the rice production and to improve yields on favorable land, while expanding rice production to frontier areas, where rice plant must withstand harsher environment. The demand for 2W tractors in the market is high due to their portability and flexibility. Government financial support to farmers for buying agriculture machinery has a positive impact on equipment demand.

KEY DRIVERS AND TRENDS FUELING MARKET GROWTH:
• Innovations in Agriculture Industry increasing Demand for Modern Farm Equipment
• Rise in Incomes and Transformation of Food Consumption Push Demand for Organic Food Products
• Integration of Digital Technology with Agriculture Industry pushing Growth
• Establishment of Rice Research Institutes to promote Innovative techniques such as Ideotype Breeding

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WHY SHOULD YOU BUY THIS RESEARCH?

This report is among the few in the market that offers outlook and opportunity analysis forecast in terms of:
• Volume (Unit sales)
• Type
• Countries
• Value (USD)
• Type
• Countries
• Gain competitive intelligence about the economic scenario, advantages in Southeast Asia countries major projects and investments, dynamics, and market share.
• Examples of the latest technologies.
• Get presentation-ready format and easy-to-interpret data.
• Enable decision-makers to make informed and profitable choices
• Gain expert quantitative and qualitative analysis on value/volume growth projections of the Southeast Asia agriculture equipment market share
• Complete supply chain analysis
• Get COVID-19 impact analysis of the market

Major Vendors
• John Deere
• AGCO
• Mahindra & Mahindra ltd
• CNH Industrial
• Kubota Corporation
• CLASS
• Changzhou Dongfeng Agriculture Machinery Group co. Ltd
• Jiangsu Changfa Agriculture Equipment co Ltd
• Weichai Lovol & Shandong Heavy Industry
• SDF Group
• YTO Group
• Yanmar

Distributor Profile
• Cans Agrinusa
• PT Wahana Inti Selaras
• ETM Valstar Tractors
• Cans Agrinusa
• ALL Planters

Explore our industrial machinery profile to know more about the industry.

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