DUBLIN--(BUSINESS WIRE)--The "Asia-Pacific Agriculture Tractors Market-Size, Trends, Competitive Analysis and Forecasts (2019-2024)" report has been added to ResearchAndMarkets.com's offering.
The agriculture tractor market in Asia-Pacific was worth USD 14.6 billion in 2018 and is forecasted to grow at a CAGR of 6.4% during 2019-2024.
Asia-Pacific is majorly an agrarian economy with majority of population deriving income from agriculture. Agriculture plays an important role in the region. However majority of the farmers are poor and still follow traditional methods of farming. At present, the Asia-Pacific region is threatened by growing population, unpredictable climate, lingering food insecurity and thus is in urgent need of increasing food production. In recent years, the Governments in most of the countries have been emphasizing on farm mechanization to increase agricultural productivity, increase yield and improve the quality of the products. The push from the Governments for farm mechanization have created a platform for agriculture tractors.
The push from the Government to promote farm mechanization and financial support to the farmers are major factors responsible for growth in utilization of tractors in agriculture Asia-Pacific region. Changing weather conditions, rain patterns and emphasis on increasing output are other demand driving factors of the tractor market. However, environmental concerns due to high energy consumption and posed safety hazards as a result of substandard machines and lack of training are major restraining factors of the market. Huge technological gaps and varying levels of mechanization are also hindering the adoption of farm tractors and machinery. Factors such as huge gaps in economic development, underdeveloped agricultural infrastructure, insufficient purchasing power of farmers, and significantly different level of agricultural machinery industry are also impeding the growth of tractor market in the region.
While the countries in the region are aiming to substitute traditional agricultural practices with mechanized production techniques, there is also a vast difference in the level of agricultural mechanization among the Asia-Pacific countries. China and India have significant development in adopting farm mechanization. The global agricultural tractors market is dominated by the Asia-Pacific region, with India and China together accounting for more than 60% revenue share in 2018. The push from the Chinese Government for farm mechanization and promote agricultural machinery to achieve higher crop yields and the creation of larger-scale, more efficient farms has created a demand for tractors, farm tools, and equipment.
To revamp the agriculture sector, the Indian Government has allotted subsidies to the agriculture sector, framed policies to push mechanization and introduced training programs to ensure implementation of mechanization. All these factors are boosting the usage of tractors in agriculture. Thailand, Indonesia, Philippines and Bangladesh provide a huge scope of expansion to the manufacturers. Other South-East Asian countries like Cambodia and Vietnam are adopting advanced machinery in farm operations. But in most countries, agricultural mechanization is still in the developing stage.
- Market trends since 2015 and five-year forecasts of market growth
- Detailed analysis of the micro and macro elements influencing demand trends
- Identifying opportunity spaces across segments and countries
- Supply & demand side trend and analysis
- Price trend analysis, investment prospects and competition pattern
- Insights on the growth potential of the market in key countries
- Detailed analysis of major producers covering financial investments & strategies adopted
- Competitive landscape of the industry
Key Topics Covered:
1.1 Research Methodology
1.2 Scope of the Study
2.1 Market Summary By Type
2.2 Market Summary by Geography
3. Industry Dynamics
3.4 Porter's Five Forces Analysis
3.5 Future Trends in the Industry
3.6 Value Chain Analysis
3.7 Industry Policies & Regulations
3.8 Market Innovations
4. Market Size and Forecast
4.1 Market Share, By Types
4.1.1 Utility Tractors
4.1.2 Row crop tractors
4.1.3 Garden Tractor
4.1.4 Orchard Tractor
4.1.4 Rotary Tillers
4.2 Market Share, By Horse Power
4.2.1 Below 40 HP
4.2.2 40 HP-100 HP
4.2.3 Above 100 HP
4.3 Market Share, By Wheel Type
4.3.1 Two Wheel
4.3.2 Four Wheel
5. Country Market Share
5.1.5 South Korea
6. Competitive Analysis
6.1 Market Share Analysis
6.2 Growth Strategies of leading players
6.3 Investment and Development Prospects
6.3.1 Investment in past five years
6.3.2 Investment Opportunities
6.4 Competition Pattern
6.4.1 Concentration Ratio
6.4.2 Industry Competition
6.5 Price Trend Analysis
6.5.1 Product Classifications and Their Prices
6.5.2 Factors Influencing Prices
7. Company Profiles
7.1 AGCO Corp.
7.2 Claas KGaA mbH
7.3 CNH Industrial N.V
7.4 Deere and Company
7.6 Escorts Limited
7.7 Kubota Corporation
7.8 Kuhn Group
7.9 Mahindra & Mahindra Ltd.
7.10 Tractors and Farm Equipment Ltd.
7.11 Yanmar Company Limited
For more information about this report visit https://www.researchandmarkets.com/r/qpjf02