Rising Sales of Combine Harvesters and Tractor Implements will surge the Growth of Agricultural Equipments Market in Vietnam: Ken Research

• The 2025 projection for GDP of Vietnam is estimated to be USD 413.5 billion while the GDP (PPP) of the country is expected to reach USD 1,209.4 billion
• The future estimates indicate the contribution of the agriculture sector to decline in 2016 to 17.9% and by 2020; the sector is estimated to contribute 18.7% to overall GDP
• The revenues from the overall agriculture equipments market increased at a CAGR of over 6% from 2010 to 2015.
• Changes in labour force pattern, improving credit environment, government support for agricultural mechanization and a strong replacement demand are expected to drive the growth of agricultural equipments in Vietnam

Ken Research announced its latest publication on “Vietnam Agricultural Mechanization Market Outlook to 2020 - Government Initiatives to Increase Mechanization and Enhancing Credit Availability to Drive Future Growth” provides a comprehensive analysis of the agricultural machinery market in Vietnam. The report covers aspects such as the market size on the basis of sales volume and revenue for Tractors, Combine Harvesters, Rice Transplanters and Tractor Implements. The segmentation for Tractors, Combine Harvesters and Rice Transplanters has been created on the basis of Horsepower while the segmentation for Tractor Implements has been showcased by products. The report also covers the market share, competitive landscape and working business model of major manufacturers, along with warranty policies and distribution channels of agricultural equipments. In addition to this, the report also covers the country overview, government regulation and agricultural overview of Vietnam. GDP, Per Capita Income and Population Demographics are analyzed in country overview. Land under cultivation, Changes in cropping patterns, farm holding structure and scale of mechanization are covered in agricultural overview. Regulatory policies, the import duty structure, certification and emission standard, subsidies and financing options are covered in government regulation. This report will help industry consultants, agricultural machinery manufacturers and dealers, retail chains, potential entrants and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
“According to Research Analyst at Ken Research, many leading players in the market are importing products from other Asian countries such as China and Japan as import tariff has been reduced to 0%. These players should focus on manufacturing the products locally as the scenario of domestic manufacturing of agricultural machinery is poor in Vietnam. Additionally, since imports are not controlled, it leads to unfair competition between the domestic and foreign manufacturers. The government should provide more support to local manufacturers in order to enhance domestic production of agricultural machinery in the country.
Amplifying sales of tractors along with implements, combine harvesters and rice transplanters have propelled the market for agricultural machinery in Vietnam over the period 2010-0215. Two wheel tractors or power tillers are well preferred in the north owing to smaller average farm size compared to the south. Rotavators are extremely popular in Vietnam due to the hard clay soil of Mekong river Delta. Majority of people in the country purchase implements along with the tractor.
Mechanization levels in Vietnam have surged over the period 2010-2015. Increasing number of farmers/cooperatives in the country has been purchasing agricultural tractors over the period 2010-2015. Agricultural market in Vietnam has been fragmented with product differentiation into multiple of models with different horse powers. Use of tractors 14.5 HP or below has declined over the period 2010-2015 while use of larger tractors has increased during this period.
Key Topics Covered in the Report:
Country Overview
-Gross Domestic Product (GDP) of Vietnam
-Key Factors Driving Growth in GDP
-Contribution to GDP: Agriculture, Manufacturing and Service Sector
-Population Demographics
• Rural to Urban Population
• Agriculture and Non-Agriculture Population
-GDP Per Capita of Vietnam
-Logistics Cost
Agricultural Overview
-Total Land under Cultivation
-Distribution by Major Crops - Rice, Sugarcane, Cassava and Rubber
-Changing Cropping Patterns in Vietnam and Factors Driving Change
-Farm Holding Structure in Vietnam
• Number of Farms and Farm Holding Size
• Nature of Ownership
-Regulatory Policies Impacting Farm Holding Structure
-Agricultural Practices
• Extensive and Intensive Farming
• Scale of Mechanization
-Irrigated and Non-Irrigated Land
Government Policy Impacting the Agricultural Equipment Market
-Regulatory
• Domestic Vs Importer
• Farmer
• National Economic and Social Development Plan
-Import Duty Structure
• Agricultural Tractors
• Rice Transplanter
• Combine Harvesters
• Tractor Implements
-Certification
• Emission Standards
-Subsidies
-Government Taxes
-Finance Options
• Manufacturer Supported Finance
• Private Finance
Market for Tractor and Agricultural Implements
-Vietnam Agricultural Equipment Market
-Tractor Market
-Rice Transplanter Market
-Combine Harvester Market
-Tractor Implements Market
-Key Factors Driving Growth of Agricultural Equipment Market
-Market Share and Competitive Landscape of Leading Manufacturers in Vietnam Agricultural Equipments Market
-Competitive Landscape of Leading Manufacturers in Vietnam Agricultural Equipments Market
-Price Range for Agricultural Equipments
• Retail Customer Price and Dealer Price
- Geographical Distribution of Category Wise Sale of Tractors and Combine Harvesters
- Business Model of Major OEM’s in Vietnam Agriculture Equipment Market
-Rental and Custom Hiring Market
- Region Wise OEM Distribution Channel Points
- Tractor and Implements Channel Strategies
- After Sales Warranty And Support Policies
- Export-Import of Agricultural Equipments in Vietnam
Customer Insight
- Decision Making Process for Procurement of Agricultural Equipments
- Usage Pattern for Major Agricultural Equipments in Vietnam
Analyst Recommendations
Key Products Mentioned in the Report
Tractors
Combine Harvesters
Rice Transplanters
Tractor Implements
Rotavators
Disc Plough
Disc Harrow
Fertilizer Spreaders
Companies Covered in the Report
Kubota Vietnam
Yanmar Vietnam
VEAM
Vikyno and Vinappro (SVEAM)
Phan Tan Agricultural Machinery Company Ltd
Related Reports:
China Agricultural Equipment Industry Outlook to 2018 - Promoted By Favorable Government Policies
India Agricultural Equipment Industry Outlook to 2018 - Growing Potential Of Rice Transplanters Market
Asia Pacific Agricultural Equipment Industry Outlook to 2018 - Expanding Market For Large Sized Tractors
Contact Us:
Ken Research
Ankur Gupta, Head Marketing & Communications
Ankur@kenresearch.com
+91-9015378249

Ken Research is a Global aggregator and publisher of Market intelligence research reports, equity reports, data base directories and economy reports. The company is engaged in data analytics and aids clients in due-diligence, product expansion, plant setup, acquisition intelligence to all the other gamut of objectives through our research focus.

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This release was published on openPR.