Vietnam Agricultural Machinery Market Outlook To 2025: Ken Research

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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

Related Reports:-

Thailand Agricultural Machinery Market Outlook to 2025 – Agriculture Tractor Market (By Type: 2W and 4W Tractors, By Power: 8HP-15HP, 20HP-35HP, 36HP-47HP, 48HP-75HP, 75HP-100HP, 100HP-120HP and Above 120HP), Combine Harvester Market (By Power: 70HP & Below, 75HP-105HP and Above 105HP), By Rice Transplanters (By Rows: 4Row, 6Row and 8Row), Agriculture Implements Market

Philippines Agricultural Equipment Market Outlook to 2023- By Product Type (Tractors, Combine Harvesters, Planters, Seeders and Tillage Equipments and Tillage Equipment), By Tractor Segment (Upto 60 Hp, Between 61-130 Hp and above 130 Hp), By Production (Imported and Domestically Manufactured) and By Region (Luzon, Visayas and Mindanao)

Europe Agriculture Equipment Market Outlook to 2023 – By Type (Tractors, Harvesting Equipment, Soil Preparation and Cultivation Equipment, Haymaking Equipment, Crop Protection Equipment, Transport and Handling Equipments and Other Agricultural Equipment); and By Major Countries (Germany, France, Italy, UK, Poland, Spain and Others)

Contact Us:-
Ken Research
Ankur Gupta, Head Marketing & Communications
Ankur@kenresearch.com
+91-9015378249

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