Showing posts with label Agricultural Equipment Market in Philippines. Show all posts
Showing posts with label Agricultural Equipment Market in Philippines. Show all posts

Monday, January 27, 2020

Philippines Agricultural Equipment Market Research Report to 2023: Ken Research

How is Agriculture Equipments Market Positioned in Philippines?
Agricultural Equipment Market started to boom with the introduction of rice combine harvesters by Kubota in 2010. During the initial years, farmers were hesitant in adopting these equipments as they had no knowledge about usage of these equipments and also feared losing their job. However, growing support from the government and private investors, helped in enhancing farm mechanization in the country. Agricultural Equipment Market in Philippines is import driven. Domestic demand for equipments is principally met through imports which are primarily imported from countries such as Thailand, Japan, China, US, Korea and India. The major stakeholders in the market are international OEMs, domestic distributors and handful domestic OEMs who import machine parts and combine it to complete the assembling of the machine. Philippines Agricultural Equipment Market size (based on volume) increased from ~ units in 2013 to ~ units in 2018 registering a positive CAGR of ~% in terms of volume during 2013-2018. On the other hand, the revenue increased from USD ~ million in 2013 to USD ~ million in 2018 recording a CAGR of ~% during the period 2013-2018. The market growth is fuelled by increasing government subsidies for farm mechanization, training programs organized by DA, increasing adoption of smart farm methods, increased awareness towards farm machine mechanization and growing use of drone technology.

Philippines Agriculture Equipment Market Segmentation
By Product Type: Tractors recorded the highest sales amounting to ~ units sold in 2018 owing to its wide usage in farming applications including seed bed preparation, sowing and planting, weed removal, plant protection, harvesting and post harvesting. The high cost of machine makes it difficult for farmers who are financially weak to afford tractor that has led to emergence of equipment leasing business in the country which in turn has led to easy affordability of the most basic farm equipment. This was followed by tillage equipments including ploughs, harrows and rotovators registered for ~ units sold in 2018. Third highest contribution was made by the sales of combine harvesters holding ~% share in the equipment market. Planters, seeders and transplanters occupied the least market share as equipments such as tractors and tillage equipments can be put to varied use and hence can carry out the same work with higher efficiency and reduced time.

By Region: Luzon has been the hotspot for the sales of agriculture equipment accounting to ~ units sold in 2018. This can be directly associated with Luzon being the heart of agriculture in the country that has led to increasing demand for agricultural equipments in the area. This is followed by Visayas, registering ~ units sold owing to huge volume of sugarcane produced in the region. Mindanao occupied the least market share with ~ units sold. The region is under constant terror threat that hampers the development of the region and ultimately reduces the demand for farm equipment in the region.

By Place of Production: Philippines Agricultural Equipment Market is dominated largely by imports accounting to ~% market share in 2018. All major imports were majorly carried out from Thailand, China and Japan during the review period (2013-18).

How Competition Scenario Works In Philippines Agriculture Equipment Market?
Agricultural Equipment Market for Tractors is highly concentrated and extensively dominated by 5 international manufacturers occupying a share of over ~% in terms of sales volume in 2018, with Kubota contributing to ~% tractors sold in the country. The market for combine harvesters is also highly concentrated with 3 leading players occupying ~% market, with Kubota contributing to ~% combine harvesters sold in the same year.

Majorly all international OEMs have extensive domestic distribution networks wherein they import their machinery to serve commercial as well as small scale farmers. Dominance of international manufacturers is a consequence of the trust and brand value attached with the products of these players thus making it difficult for domestic OEMs to establish company name in short run. Domestic OEMs also lack in technical expertise and initial investment required for manufacturing the machines, keeping their share very low in the market. Leading international manufacturers as per the revenue earned in 2018 include Kubota, Yanmar, Massey Ferguson, CNH (Case IH & New Holland) and John Deere.  The international manufacturers conduct operations in South Africa through their authorized distribution and dealership network. Major competing parameters for the entities include price of equipment, brand image, after sales services, distribution and dealership network, quality of product and marketing and Promotion of the products, product portfolio, years of establishment and digitalization brought in the equipments.

Key Segments Covered
By Product Type
Tractors
Combine Harvesters
Planters, Seeders and Transplanters
Tillage Equipment (Ploughs, Harrows and Rotovators)

By Tractor Segment
Upto 60 Hp
Between 61-130 Hp
Above 130 Hp

By Production
Imported
Domestically Manufactured

By Region
Luzon
Visayas
Mindanao

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: 2013-2018
Forecast Period: 2019-2023E

Major Companies Covered:
Kubota
Yanmar
Massey Ferguson
CNH (Case IH & New Holland)
John Deere
McCormick
Landini

Key Topics Covered in the Report
Executive Summary
Research Methodology
Philippines Agriculture Equipment Market Overview
Philippines Agriculture Equipment Market Size, 2013-2018
Philippines Agriculture Equipment Market Segmentation, 2018
Growth Drivers in Philippines Agriculture Equipment Market
Issues and Challenges in Philippines Agriculture Equipment Market
Regulatory Framework
Snapshots on Equipment Financing and Rentals, After Market Services and Diesel Engines
Competitive Landscape
Company Profiles of Major Players
Philippines Agriculture Equipment Future Outlook and Projections, 2018-2023E
Philippines Agriculture Equipment Future Segmentation, 2018 - 2023E
Analyst Recommendations

For more information, refer to below link:

Related Reports



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

Thursday, August 29, 2019

Philippines Agricultural Equipment Market Outlook to 2023: Ken Research

The report titled “Philippines Agricultural Equipment Market Outlook to 2023- By Product Type (Tractors, Combine Harvesters, Planters, Seeders and Tillage Equipments), 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)” provides a comprehensive analysis on the Agricultural Equipment Market in Philippines. The report covers various aspects including overview and market size, market segmentation, trends and development, issues and challenges, snapshots on (Equipments Financing and Rentals, Aftermarket services and Diesel Engines), competitive landscape, market share of major players (Kubota, Yanmar, Massey Ferguson, CNH, John Deere, McCormick and Landini) in agricultural equipment market. The report concludes with market projection and analyst recommendations highlighting the major opportunities and cautions.

Market Overview and Size
Genesis: Agricultural Equipment Market started to boom with the introduction of rice combine harvesters by Kubota in 2010. During the initial years, farmers were hesitant in adopting these equipments as they had no knowledge about usage of these equipments and also feared losing their job. However, growing support from the government and private investors, helped in enhancing farm mechanization in the country.

Major Stakeholders: Agricultural Equipment Market in Philippines is import driven. Domestic demand for equipments is principally met through imports which are primarily imported from countries such as Thailand, Japan, China, US, Korea and India. The major stakeholders in the market are international OEMs, domestic distributors and handful domestic OEMs who import machine parts and combine it to complete the assembling of the machine.

Market Size: Philippines Agricultural Equipment Market size (based on volume and value) increased in 2018 registering a positive single digit CAGR during 2013-2018.The market growth was fuelled by increasing government subsidies for farm mechanization, training programs organized by DA, increasing adoption of smart farm methods, increased awareness towards farm machine mechanization and growing use of drone technology. However, the market growth is hampered due to high initial cost of investment; technology disabled operators and seasonal changes in the country.

Philippines Agriculture Equipment Market Segmentation
By Product Type (Tractors, Combine Harvesters, Planters, Seeders and Transplanters and Tillage Equipments): Tractors recorded for the highest sales in 2018 owing to its wide usage in farming applications including seed bed preparation, sowing and planting, weed removal, plant protection, harvesting and post harvesting. This is followed by combine harvesters that are multi-functional machine used for various purposes such as harvesting, threshing and winnowing into a single process and is mainly dominant in rice and corn farming. On the other hand, Tillage Equipments along with Planters, Seeders and Transplanters including ploughs, harrows and rotovator occupy the least market share.

By Tractor Segment (Upto 60 Hp, Between 61-130 Hp and Above 130 Hp): Tractors upto 60 Hp contributed a major share in terms of sales volume in 2018 as they support the basic farming activities such as mowing and manure handling along with less cost of investment and compact farm size that has helped the segment in gaining the maximum market share. The demand for tractors between 61-130 Hp occupies the second largest market share as they are utility tractors primarily used for corn cultivation. Tractors above 130 Hp occupy the least market share due to the high price of the machine.  

By Imports and Domestically Manufactured: Philippines Agricultural Equipment Market is dominated largely by imports. Imported machines occupying a significant market share in 2018 with all major imports majorly carried out from Thailand, China and Japan during the period. Lack of expertise in manufacturing of complex machines and acceptability/trust for domestically manufactured equipments has increased the dependency on imported machines leaving domestically manufactured equipments with a least market share.

By Region (Luzon, Visayas and Mindanao): Luzon has been the hotspot for the sales of agriculture equipment and occupies a major market share based on units sold in 2018. This can be directly associated with Luzon being the heart of agriculture in the country that has led to increasing demand for agricultural equipments in the area. This is followed by Mindanao, registering second largest demand for agricultural equipments owing to huge volume of sugarcane produced in the region. Mindanao occupies the least market share as the area is under constant terror threat that hampers the development of the region and ultimately reduces the demand for farm equipment in the region. 

Competitive Landscape
Agricultural Equipment Market in Philippines is highly concentrated. Kubota is the market leader with the highest market share on the basis of sales of equipment in 2018. This was followed by Yanmar, Massey Ferguson, CNH (Case IH & New Holland), John Deere, McCormick, Landini and Others. These players compete in the agricultural equipment market on the basis of price of equipment, brand image, after sales services, distribution and dealership network, quality of product and marketing and promotion of the products.

Philippines Agricultural Equipment Market Future Outlook
Philippines Agricultural Equipment Market is expected to experience an upward trend in terms of sales volume as well as sales value owing to increasing demand for food due to steady growing population, increasing prices of agricultural equipments with emerging players in the market, increasing number of financing options and penetration of driverless tractors in Philippines. Various government supporting policies such as the Rural Development Project and Inclusive Partnerships for Agricultural Competitiveness Project are expected to facilitate growth of agricultural sector and hence increasing the demand for agricultural equipment.

Key Segments Covered
By Product Type
Tractors
Combine Harvesters
Planters, Seeders and Transplanters
Tillage Equipment (Ploughs, Harrows and Rotovators)

By Tractor Segment
Upto 60 Hp
Between 61-130 Hp
Above 130 Hp

By Production
Imported
Domestically Manufactured

By Region
Luzon
Visayas
Mindanao

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: 2013-2018
Forecast Period: 2019-2023E

Major Companies Covered:
Kubota
Yanmar
Massey Ferguson
CNH (Case IH & New Holland)
John Deere
McCormick
Landini

Key Topics Covered in the Report
Executive Summary
Research Methodology
Philippines Agriculture Equipment Market Overview
Philippines Agriculture Equipment Market Size, 2013-2018
Philippines Agriculture Equipment Market Segmentation, 2018
Growth Drivers in Philippines Agriculture Equipment Market
Issues and Challenges in Philippines Agriculture Equipment Market
Regulatory Framework
Snapshots on Equipment Financing and Rentals, After Market Services and Diesel Engines
Competitive Landscape
Company Profiles of Major Players
Philippines Agriculture Equipment Future Outlook and Projections, 2018-2023E
Philippines Agriculture Equipment Future Segmentation, 2018 - 2023E
Analyst Recommendations

For more information, refer to below link:

Related Reports



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