Agricoltura
Vietnam Agriculture Equipment Market Gears Up for 5.5% CAGR Growth by Ken Research
The Vietnamese agricultural equipment market is a dynamic space with a mix of international and local players vying for market share. Major global players like Kubota, Yanmar, and John Deere compete alongside local companies like Thaco and VEAM. This healthy competition drives innovation and keeps prices competitive, ultimately benefiting farmers.
With a projected CAGR of 5.5%, the future of the Vietnam appears bright. Continued growth in food demand, government support, and the adoption of advanced technologies are expected to further propel this market forward. Companies that adapt to changing trends, embrace innovation, and cater to the specific needs of Vietnamese farmers are well-positioned to thrive in this dynamic landscape.
For a deeper dive into the lucrative opportunities in the Vietnam agricultural equipment market, access Ken Research's comprehensive report. Explore key player strategies, market segmentation, future trends, and expert insights to make informed investment decisions.
2W
4W Tractors
Below 100 HP
100-200 HP
200-300 HP
300-400 HP
400-500 HP
Above 500 HP
8 Row Rice Transplanters
6 Row Rice Transplanters
4 Row Rice Transplanters
According to Ken Research estimates, the impact of COVID-19, a shortage of components interfered with the production of many items of machinery but the rental agricultural equipment market became popular during the pandemic. The pre-owned Agri-equipment market has been relatively growing. The Australia Agri-Equipment market is expected to grow at a CAGR of 9.1% during 2021-2026F, driven by technological advancements, government initiatives and the availability of loans.
According to Ken Research estimates, the agriculture equipment market in Germany – which grew from approximately $ ~ Bn in 2017 to approximately $ ~ Bn in 2022P – is forecasted to grow further into a $ ~ Bn opportunity by 2027F, owing to the expansion of the farm mechanization, and the initiatives taken by the government.
The market will grow at a CAGR of 13.3% during 2022-2027 due to increase of mechanized farming & supportive government policies. Mechanized farming allows higher levels of efficiency and precision in various agricultural tasks, leading to increased productivity. Modern machinery, like advanced tractors, harvesters, and planting equipment, can perform tasks more quickly and accurately than traditional manual methods.
The United Kingdom's agricultural machinery market is projected to record a CAGR of ~3.5% during the forecast period. The UK's agricultural machinery sector is expanding due to multiple factors, including higher farm labor costs, government policies promoting machinery adoption, and technological advancements. Adoption of the latest farm technologies is streamlining operations and reducing costs, contributing to the growth of the agricultural machinery market.
Ken Research Private Limited
Ankur Gupta , Director Strategy and Growth
+91-9015378249
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