APAC Planting Machinery Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 3.70 % |
Major Players
*Disclaimer: Major Players sorted in no particular order |
APAC Planting Machinery Market Analysis
The Asia Pacific planting machinery market is projected to grow at a CAGR of 3.7% during the forecast period (2020 - 2025). Planting machinery is a part of farm mechanization equipment and agricultural automation. Technological advancement with government subsidies, scarcity of farm labor, growing farm income, integration of precision farming, and widespread usage of tractors are the factors driving the sales of planting machinery. Increasing tractor demand in developing markets, such as India and China, is driving the adoption of planting and fertilizing machinery. These markets are constrained by high labor costs and need for improved efficiency in agricultural operations, driving farmers towards farm mechanization. The major companies dominating the planting machinery market in the region for its products, services are John Deere, AGCO Corporation, Kuhn Group, YANMAR HOLDINGS CO. LTD, and Kverneland AS
APAC Planting Machinery Market Trends
This section covers the major market trends shaping the APAC Planting Machinery Market according to our research experts:
Government Initiatives for Farm Mechanization in India
The shortage of farm labor and the need to enhance farm productivity are among the main reasons for increasing farm mechanization in India. According to the Ministry of Agriculture & Farmers' welfare, Government of India has launched a scheme sub mission on agricultural mechanization to boost the farm mechanization in the country. As per National Bank for Agriculture and Rural Development (NABARD), India has been provided with 1.02 billion USD of credit facilities has been provided for farm mechanization, which is 2.68 % on the overall priority sector in 2018 - 2019. Farmers in the country are highly dependent on subsidies and credit facilities from the government. Mahatma Gandhi National Rural Employment Guarantee Act is another policy initiative for the growth of the tractor industry. The macro management scheme of agriculture is providing a 25% subsidy on equipment or other agricultural machinery. In addition to the aforementioned schemes, under central sector extension programs, the government is providing subsidy for the purchase of tractors below 18 HP. This subsidy is being provided to farmers individually or in groups, having irrigated land between 2.4-3.2 ha.
Shortage of Labour in Agriculture
Planters in japan are used for the seeds that are larger in size and cannot be planted by using normal seed drills. Furthermore, it helps to improve cropping frequency, which, in turn, provides increased seed planting and seed placement accuracies. According to the world bank, there is a decrease in the labor force that drives the planting machinery market to grow in a region. For instance, in 2016 the agricultural employment rate in China was 27.7% which declined to 26.6% in 2019. Additionally, in India, the employment rate has been declining every year. In 2019 the employment rate in agriculture declined to 43. 21% as against 45.12% in 2016. The trend is further expected to continue, thus driving the market. Also, there is a decrease in agricultural land area with a rising population and urbanization has driven the usage of technology in agriculture. In the Asia Pacific region, the production of seed drills, planters, and transplanters have increased significantly.
APAC Planting Machinery Industry Overview
The Asia Pacific planting machinery market is moderately fragmented. Companies are not only competing based on product quality and promotion but also focused on strategic moves to hold larger market shares. The major companies dominating the planting machinery market in the region for its products, services, and continuous product developments are John Deere, AGCO Corporation, Kuhn Group, YANMAR HOLDINGS CO. LTD, and Kverneland AS In 2020, AGCO corp launched FENDT Momentum plante, with a completely new toolbar concept and packed with Precision Planting technology.
APAC Planting Machinery Market Leaders
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Deere & Company.
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AGCO Corporation
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Kuhn Group
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YANMAR HOLDINGS CO., LTD
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Kverneland AS
*Disclaimer: Major Players sorted in no particular order
APAC Planting Machinery Market Report - Table of Contents
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1. INTRODUCTION
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1.1 Study Assumptions & Market definition
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1.2 Scope of the Study
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2. RESEARCH METHODOLOGY
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3. EXECUTIVE SUMMARY
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4. MARKET DYNAMICS
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4.1 Market Overview
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4.2 Market Drivers
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4.3 Market Restraints
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4.4 Porter's Five Force Analysis
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4.4.1 Bargaining Power of Suppliers
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4.4.2 Bargaining Power of Buyers/Consumers
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4.4.3 Threat of New Entrants
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4.4.4 Threat of Substitute Products
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4.4.5 Intensity of Competitive Rivalry
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5. MARKET SEGMENTATION
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5.1 Type
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5.1.1 Planting Machinery
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5.1.1.1 Seed Drills
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5.1.1.2 Planters & Transplanters
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5.1.2 Fertilizing Machinery
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5.1.2.1 Seed-cum-Fertilizer Drills
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5.1.2.2 Fertilizer Spreaders
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5.2 Geography
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5.2.1 China
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5.2.2 India
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5.2.3 Japan
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5.2.4 Australia
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5.2.5 Rest of Asia-Pacific
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6. COMPETITIVE LANDSCAPE
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6.1 Most Adopted Competitor Strategies
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6.2 Market Share Analysis
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6.3 Company Profiles
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6.3.1 CNH Industrial America LLC.
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6.3.2 Deere & Company.
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6.3.3 AGCO Corporation
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6.3.4 Kuhn Group
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6.3.5 Kverneland AS
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6.3.6 YANMAR HOLDINGS CO., LTD
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6.3.7 CLAAS KGaA mbH
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6.3.8 Vaderstad Group
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7. MARKET OPPORTUNITIES AND FUTURE TRENDS
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8. IMPACT OF COVID-19
APAC Planting Machinery Industry Segmentation
For the purpose of this report, the planting machinery used in agricultural operations has been considered. The report does not cover planting machinery used for industrial and construction purposes, or multi-purpose tractors, used for both agricultural and non-agricultural operations. The report contains a detailed analysis of various parameters of the Asia Pacific planting machinery market.
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APAC Planting Machinery Market Research FAQs
What is the current Asia-Pacific Planting Machinery Market size?
The Asia-Pacific Planting Machinery Market is projected to register a CAGR of 3.70% during the forecast period (2024-2029)
Who are the key players in Asia-Pacific Planting Machinery Market?
Deere & Company., AGCO Corporation, Kuhn Group, YANMAR HOLDINGS CO., LTD and Kverneland AS are the major companies operating in the Asia-Pacific Planting Machinery Market.
What years does this Asia-Pacific Planting Machinery Market cover?
The report covers the Asia-Pacific Planting Machinery Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Asia-Pacific Planting Machinery Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Asia-Pacific Planting Machinery Industry Report
Statistics for the 2024 Asia-Pacific Planting Machinery market share, size and revenue growth rate, created by Mordor Intelligenceā¢ Industry Reports. Asia-Pacific Planting Machinery analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
Asia-Pacific Planting Machinery Report Snapshots
