The
report titled “Vietnam
Agricultural Machinery Market Outlook To 2025 – Agriculture Tractor Market (By
Type: 2W And 4W Tractors, By Power: Below 12 HP, 12HP-35HP, And Above 35HP, By
Region: Central Highlands, North Central & Central Coast, Mekong Delta,
Northern Midlands and Mountains, Red River Delta and South East), Combine Harvester Market, Rice Transplanters Market and Agriculture
Implements Market (By Product Type: Rotavator, Plough, Harrow, Fertilizer Spreaders and Others)” provides a comprehensive analysis on the status
of the agricultural machinery sector in Vietnam. The report covers various aspects
including volume of machines& market size, production scenario of agricultural
equipments in the country, target audience, growth facilitators, issues &
challenges faced by the industry and more. The Vietnam Agricultural Equipment report
concludes with projections for future of the industry including forecasted
sales revenue and volume by 2025, market segmentations, Covid-19 impact and
analysts’ take on the future.
Vietnam Agricultural
Equipment Overview and Size:
Vietnam Agricultural
Equipment sector is in the growing phase with revenue CAGR of 3.2% during
2014-2020. Increasing demand for food, rising focus on reducing post-harvest
losses, shortage of labour, extreme climatic conditions and signing of free
trade agreement with various countries are the main reasons behind positive
growth in agricultural machinery market revenue. Another major driver is the government
initiatives to promote mechanization of farms in order to increase the cost and
time efficiency of crop production. Agro economists have predicted that the
overall food demand is expected to increase in the range of 59% to 98% by 2050
which makes the mechanization a necessity globally.
Vietnam Agricultural
Equipment Segmentations
By Products (Tractors,
Combine Harvester, Rice Transplanter and Implements): Tractors market
dominated the agricultural equipment industry in Vietnam in 2020 on the basis
of value and volume. The presence of major machinery manufactures is concentrated
in the south and north; northern midland mountains have the least dealer store
density. Combine harvester posed a slow growth rate due to their higher price.
Vietnam Tractor
Market Segmentations
By Tractor Segment(2W
and 4W): In terms of consumer preferences, sales for4W tractors are
growing faster than that of 2W but the latter has the dominant market share in
terms of volume. The low price of two wheel tractors makes them a great choice for
small hold farmers who own small pieces of land.
Further Segmentation
of Tractors by Power: Usage of tractors under 12 Hp is on the decline
as most of the farmers are now switching on to 4W tractors. This has been made
possible by the government as they provide subsidy on loan for farm equipments.
In addition to the same, tractor above 35 Hp is only preferred by farmers with
large land holding size.
By Region: Use of farm machinery
such as tractors is increasing rapidly in Highlands- due to its increasing
production of coffee and other crops such as crops such as pepper, tea, fruit
and vegetables, flowers, rubber and cashew. Mekong Delta has been gaining traction
for 4 wheel tractors due to the presence of large agricultural lands &
extensive application of tractors 35 Hp and above.
Vietnam Combine
Harvester Market Segmentations
By Region : Majority of farmers
continue to use traditional methods of threshing and harvesting especially in
the Northern Midlands and Mountains Region, thus leading to less usage of
agricultural equipments. Combine harvester’s multifunction purpose usage is
mainly dominant in rice and corn farming and is mainly used in Mekong region.
Vietnam Rice
Transplanter Market Segmentations
By Region: Mekong Delta has the
highest number of Rice Transplanter owing to higher land holding farm size. The
trend of using these machines is high in Dong Thap. Due to the low sales of
rice transplanters, some players have started to come up with 2 row rice
transplanter to cater to the segment of small hold farmers in the country.
Competitive Landscape
of Vietnam Agricultural Equipment
Agricultural
Machinery Market in Vietnam has been dominated by Kubota which has captured a majority
share in the sales volume of new 4 wheel tractors in Vietnam during 2020. It
has also accounted a majority sales volume share in combine harvester and rice
transplanter market of Vietnam during 2020. Both foreign as well as domestic
companies are present in the market. These players compete on parameters such
as proximity, value added services, prices, promotional offers and tie ups with
major financial institution. In order to increase their revenue, the players
offer free gifts and spare parts as a part of promotion.
Vietnam Agricultural
Equipment Future Outlook & Projections
The agricultural machine
industry is expected to recover from the Covid-19 pandemic and witness growth by
2025. The increasing push for mechanization by the government and shortage of
labour are expected to fuel the sales of agricultural machinery. The adoption
of 4WT is also expected to increase over the forecast period. The Agricultural
Equipment Market is expected to witness investment in promotional and marketing
activities and also strategic partnerships of domestic and foreign players.
Key Segments Covered:-
By
Product Type
Tractors (2W and 4W)
Combine Harvesters
Rice Transplanter
Implements
By
Tractor Segment
Upto 12 Hp
Between 12-35 Hp
Above 35 Hp
By
Region of Sales
Mekong Delta
Red River Delta
Northern Midlands and Mountains
North Central and Central Coast
Central Highlands
South East
By
Implement Segment
Rotavator
Plough
Harrow
Fertilizer Spreaders
Others
Companies
Covered:-
Kubota Vietnam
Yanmar Vietnam
VEAM (Vietnam Engine and
Agricultural Machinery Corporation)
Thaco (LS Mtron)
Key Target Audience:-
Agricultural Equipment
Companies
New Market Entrants-
Domestic OEMs
New Market Entrants-
Foreign OEMs
Agricultural Equipment Financing
Companies
Government Bodies
Investors & Venture
Capital Firms
Agricultural Equipment
Manufacturers
Agricultural Equipment
Distributors
Agricultural Equipment
Associations
Time Period Captured in the Report:-
Historical Period – 2014-2020
Forecast Period – 2021-2025
Key Topics Covered in the Report:-
Executive Summary
Research Methodology
Vietnam Agriculture Equipment Market Overview
Vietnam Agriculture Equipment Market Size,
2014-2020
Vietnam Agriculture Equipment Market
Segmentation, 2020
Growth Drivers in Vietnam Agriculture Equipment
Market
Issues and Challenges in Vietnam Agriculture
Equipment Market
Regulatory Framework in Vietnam Agriculture
Equipment Market
Snapshots on Equipment Financing and Rentals,
After Market Services and Second Hand Purchases
Ecosystem and Value Chain of Agricultural
Equipment Industry in Vietnam
Farmers Purchase Decision Making Parameters
Cross Comparison between Major Players and
Company Profiles & Product Portfolios
Future Market Size and Segmentations, 2021-2025F
Covid-19 Impact on the Industry & the Way
Forward
Analysts’ Recommendations
For More Information on the research report,
refer to below link:-
Vietnam Agricultural Machinery Market
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Reports:-
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