Showing posts with label Australia Agriculture Equipment Sector. Show all posts
Showing posts with label Australia Agriculture Equipment Sector. Show all posts

Wednesday, January 18, 2023

Government’s Ag2030 mission aims to generate AUD 100 Bn in agricultural production by 2030 driving huge demand for Agriculture equipment in Australia: Ken Research

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The Australia Agriculture Equipment market is moderately concentrated with five players capturing ~75% of the market share in 2021. Most manufacturers of agricultural machinery sell their machines through authorized dealerships. Both OEM’s and aftermarket sales go hand-in-hand owing to an increase in demand for original equipment which increases the demand for spare parts. Online Physical-digital channels of Purchase listing their products online will be preferred by consumers in the medium term.

  • There is continuous growth in the sales of tractors in the agricultural equipment market as they are inevitable for farming operations in the rough terrain of Australia.
  • GPS-enabled agricultural equipment and the predominance of precision farming techniques are the major trends in the market.
  • There is heavy competition among local and foreign players as a significant proportion of agricultural equipment used in Australia are imported from overseas.
  • OEM’s and aftermarket sales go hand-in-hand as the demand for original equipment rises, demand for spare parts increase along with it.
  • Price and quality of the equipment along with the level of automation and type of commodity produced by the farmer affects the decision-making process of purchasing equipment.

australia-agri-equipment-market

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Surge in demand for New Technology: Farmers are currently preferring technological upgradations in their agricultural equipment. GPS enabled agricultural equipment and predominance of precision farming techniques are the major trends in the market. GPS technology helps in accurate field navigation to minimize redundant applications and enable maximum ground coverage in the shortest possible time in the rough terrain in Australia. Precision Agronomics Australia (PAA) has developed a unique product in the i4M technology and is leading the next wave of precision agriculture. Increased use of data science, automation, and communication technologies has gained prominence in the sector.

Government Initiatives to Regulate Agri-equipment Market: Regional Investment Corporation (RIC) administers concessional loans on behalf of the Australian Government for farm businesses, drought-affected small businesses and other eligible businesses. These farmer loans assist farmers to purchase, establish or develop a farm business or machinery. Rural Research and Development Corporation (RDC) invest around AUD 1,176 Mn each year in agricultural innovation, with more than $300 million of funding coming from the Australian Government. RDC focuses on investing in digital agriculture and mechanization to deliver new trade and market access for producers, create jobs and reduce red tape.

Importance of loans and credit schemes: The increasing price of agriculture equipment will necessitate the importance for loans and credit schemes to invest in the purchase of machinery. The availability of credit and loans at a lower interest rate increases the preference for financed purchases. 13% of the total workforce employed in agriculture will be young population of 15 to 34 years of age by 2025. Young farmers will prefer financed purchases owing to the low capital in hand and easy availability of credit from different sources.

Analysts at Ken Research in their latest publication Australia Agricultural Equipment Market Outlook to 2026F - Driven by Adoption of Technological Advancements in Farming Techniques and Financial support of Governmentby Ken Research observed that Agri-equipment Market in Australia is at a growing stage. The rising government policies and demand in the Agri-equipment industry, an increase in credit availability along with rising online platforms for sale of Agri-equipment is expected to contribute to the market growth over the forecast period. The market is expected to grow at 9.1% CAGR by value, during 2021-2026F.

Key Segments Covered in the report:-

      Australia Agri-Equipment Market

By Type of Equipment

  • Tractors
  • Harvesters
  • Planting Equipment
  • Irrigation and crop processing Equipment
  • Spraying Equipment
  • Hay and Forage equipment

By Mode of Sales

  • Online
  • Offline

By Type of Purchase

  • Financed purchase
  • Non-Financed purchase

By Automation

  • Semi-automatic
  • Manual
  • Automatic

By Sales Channel

  • OEM
  • Aftermarket

By Application

  • Harvesting& Threshing
  • Land development and seed bed preparation
  • Sowing and Planting
  • Weed cultivation
  • Post-harvest & Agro-processing
  • Plant protection

By Region

  • Western Australia
  • New South Wales
  • Queensland
  • Northern territory
  • South Australia
  • Victoria
  • Tasmania

Key Target Audience

  • Existing Agricultural Equipment Companies
  • New Market Entrants- Domestic OEMs
  • New Market Entrants- Foreign OEMs
  • Agricultural Equipment Financing Companies
  • Government Bodies
  • Investors & Venture Capital Firm
  • Agricultural Equipment Manufacturers
  • Agricultural Equipment Distributors
  • Agricultural Equipment Associations
  • Market Research and Consulting Firms
  • Government Bodies & Regulating Authorities

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Time Period Captured in the Report:-

  • Historical Period: 2016-2021
  • Base Period: 2021
  • Forecast Period: 2021-2026F

Companies Covered:-

       Leading companies

  • John Deere
  • Kubota
  • CLAAS
  • AGCO
  • CNH Industrial
  • Massey Ferguson
  • CASE Agriculture
  • AGRIFARM
  • Farm Tech
  • DOBMAC
  • GASON
  • VIN ROWE
  • PELLENC

Key Topics Covered in the Report:-

  • Executive Summary
  • Country Overview of the Australia
  • Overview and Genesis of Agriculture Equipment Market in Australia
  • Ecosystem of Australia Agriculture Equipment Market
  • Market Segmentations of Agriculture Equipment Market in Australia
  • Snapshots on different Agriculture Equipment Markets in Australia
  • SWOT Analysis of Australia Agriculture Equipment Market
  • Growth Drivers of Australia Agriculture Equipment Market
  • Trends and Developments of Australia Agriculture Equipment Market
  • Challenges of Australia Agriculture Equipment Market
  • Competitive Analysis of Agriculture Equipment Market in Australia
  • Future Outlook and Projections of Agriculture Equipment Market in Australia, 2021-2026
  • Government Initiatives to Regulate Australia Agri-equipment Market
  • Cross Comparison of Major Players in Australia Agri-equipment Market
  • Covid-19 Impact on Australia Agri-equipment Market
  • Outlook and Future Projections for Australia Agri-equipment Market
  • Market Opportunity and Analyst Recommendations
  • Research Methodology

Key Segments Covered in the report: -

      Australia Agri-Equipment Market

 By Type of Equipment

  • Tractors
  • Harvesters
  • Planting Equipment
  • Irrigation and crop processing Equipment
  • Spraying Equipment
  • Hay and Forage equipment

To more about industry trends, Request a free Expert call

By Mode of Sales

  • Online
  • Offline

By Type of Purchase

  • Financed purchase
  • Non-Financed purchase

By Automation

  • Semi-automatic
  • Manual
  • Automatic

By Sales Channel

  • OEM
  • Aftermarket

By Application

  • Harvesting& Threshing
  • Land development and seed bed preparation
  • Sowing and Planting
  • Weed cultivation
  • Post-harvest & Agro-processing
  • Plant protection

By Region

  • Western Australia
  • New South Wales
  • Queensland
  • Northern territory
  • South Australia
  • Victoria
  • Tasmania

Key Target Audience

  • Existing Agricultural Equipment Companies
  • New Market Entrants- Domestic OEMs
  • New Market Entrants- Foreign OEMs
  • Agricultural Equipment Financing Companies
  • Government Bodies
  • Investors & Venture Capital Firm
  • Agricultural Equipment Manufacturers
  • Agricultural Equipment Distributors
  • Agricultural Equipment Associations
  • Market Research and Consulting Firms
  • Government Bodies & Regulating Authorities

Time Period Captured in the Report:

  • Historical Period: 2016-2021
  • Base Period: 2021
  • Forecast Period: 2021-2026F

Visit this Link Request for a custom report

Companies Covered:

    Leading companies

  • John Deere
  • Kubota
  • CLAAS
  • AGCO
  • CNH Industrial
  • Massey Ferguson
  • CASE Agriculture
  • AGRIFARM
  • Farm Tech
  • DOBMAC
  • GASON
  • VIN ROWE
  • PELLENC

Key Topics Covered in the Report

  • Executive Summary
  • Country Overview of Australia
  • Overview and Genesis of Agriculture Equipment Market in Australia
  • Ecosystem of Australia Agriculture Equipment Market
  • Market Segmentations of Agriculture Equipment Market in Australia
  • Snapshots on different Agriculture Equipment Markets in Australia
  • SWOT Analysis of Australia Agriculture Equipment Market
  • Growth Drivers of Australia Agriculture Equipment Market
  • Trends and Developments of Australia Agriculture Equipment Market
  • Challenges of Australia Agriculture Equipment Market
  • Competitive Analysis of Agriculture Equipment Market in Australia
  • Future Outlook and Projections of Agriculture Equipment Market in Australia, 2021-2026
  • Government Initiatives to Regulate Australia Agri-equipment Market
  • Cross Comparison of Major Players in Australia Agri-equipment Market
  • Covid-19 Impact on Australia Agri-equipment Market
  • Outlook and Future Projections for Australia Agri-equipment Market
  • Market Opportunity and Analyst Recommendations
  • Research Methodology

For More Insights On The Market Intelligence, Refer To The Link Below: -

Future Outlook of Australia Agricultural Equipment Market

Related Reports by Ken Research: -

South Africa Agricultural Equipment Market Outlook to 2025

Indonesia Agriculture Equipment Market Outlook to 2025

Friday, January 6, 2023

Australia Agri-Equipment market is expected to grow at a CAGR of 9.1% during 2021-2026F: Ken Research

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1. Farmers prefer agriculture equipment primarily for harvesting and threshing activities owing to their application in the production of high-yielding grain

Australia Agricultural Equipment Market

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The harvest season in Australia is between October and December. Harvesting of field crops is one of the most labour-intensive activities and hence is made easy with the mechanization of the process.

Regions like Western and South Australia are mostly affected by heavy rains. Use of equipment are necessary to combat the weather conditions. Increase in grain prices such as Barley and grain has necessitated the requirement for harvesting, land development and sowing.

2 Increasing internet penetration in Australia and easy product comparison feature among online websites has increased the demand for online sales channels for Agri-equipment in the country

Australia Agricultural Equipment Market 2

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Online mode of sale is more preferred attributing to increasing internet adoption in the rural areas of the country. Internet penetration in Australia has increased from 86.5% in 2017 to 91% of internet users in 2021.

Online Physical-digital channels will improve the distribution process for agriculture equipment. It will also help the consumers avail easy after sales services.

Increased use of data science, automation, and communication technologies has gained prominence in the sector.

3  Government support and technological upgradations in Agricultural equipment in Australia are expected to drive the market by 2026F

Australia Agricultural Equipment Market 3

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Government schemes and initiatives will facilitate credit and improve agriculture-related operations which will be a major growth driver. Agri-starter loans of up to AUD 2.9 Mn at low-interest rates have been provided to farmers in 2021.

Three core technologies shaping the future of the Agriculture Equipment Market are Electrification, Automation to Autonomy and Artificial Intelligence.

Farmers are currently preferring technological upgrades in their agricultural equipment. GPS technology will help in accurate field navigation to minimize redundant applications and enable maximum ground coverage in the shortest possible time in the rough terrain in Australia.

Friday, December 30, 2022

Agriculture remains a vital contributor to Australia’s economy providing majority of the domestic food supply leading to demand for Agri-equipment: Ken Research

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Focus on Embracing Technological Advancements, Government Initiatives and Entry of Online portals in the market are major factors contributing towards the development of Agriculture equipment Market in Australia.

 Pandemic-led impact: In 2021, huge demand for grains coupled with high prices, a tax write-off from the Australian government, and low-interest rates created the highest level of demand in the farm machinery market. A shortage of components interfered with the production of many items of machinery. This shortage was due to disruptions in the supply chain caused by COVID-19 restrictions including manufacturing industry closures, shortage of labour and scarcity of raw materials due to transportation controls.

australia-agri-equipment-market

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Rental agricultural equipment market became popular during the pandemic which allowed farmers to rent advanced agriculture equipment and machinery at competitive prices.

High demand for Tractors: Tractor is the most sold equipment as it is a multi-purpose vehicle and all the farmers need a tractor to carry out agricultural activities. Demand for alternative fuel-based tractors rather than conventional diesel-based tractors will drive the market owing to their fluctuating prices. Low operating cost and less maintenance requirements will fuel the demand for biodiesel tractors. Utility Tractors are the most used tractors due to their application in farming operations like ploughing and pulling heavy implements. These are multifunctional tractors. 4WD tractors are more efficient and durable as compared to 2WD tractors.

Factors leading to consumer purchase decision: Consumers purchase agriculture equipment based on the type of equipment required for the agricultural operation, brand and availability of financing methods. Owing to the rough terrain of agricultural lands in Australia, large-scale farming operations require tractors and harvesters. Consumers focus on financial services provided by brands and aftermarket and customer support prior to purchasing equipment. Captives are generally preferred in the market as the companies provide better deals for equipment. Down payment charged by them is ~5-10%. Price and quality of the equipment along with the level of automation and type of commodity produced by the farmer affects the decision-making process of purchasing an equipment.

Analysts at Ken Research in their latest publication Australia Agricultural Equipment Market Outlook to 2026F - Driven by Adoption of Technological Advancements in Farming Techniques and Financial support of Government”by Ken Research observed that Agri-equipment Market in Australia is at a growing stage. The rising government policies and demand in Agri-equipment industry, an increase in credit availability along with rising online platforms for sale of Agri-equipment is expected to contribute to the market growth over the forecast period. The market is expected to grow at 9.1% CAGR by value, during 2021-2026F.

Key Segments Covered in the report: -

      Australia Agri-Equipment Market

 By Type of Equipment

  • Tractors
  • Harvesters
  • Planting Equipment
  • Irrigation and crop processing Equipment
  • Spraying Equipment
  • Hay and Forage equipment

To more about industry trends, Request a free Expert call

By Mode of Sales

  • Online
  • Offline

By Type of Purchase

  • Financed purchase
  • Non-Financed purchase

By Automation

  • Semi-automatic
  • Manual
  • Automatic

By Sales Channel

  • OEM
  • Aftermarket

By Application

  • Harvesting& Threshing
  • Land development and seedbed preparation
  • Sowing and Planting
  • Weed cultivation
  • Post-harvest & Agro-processing
  • Plant protection

By Region

  • Western Australia
  • New South Wales
  • Queensland
  • Northern territory
  • South Australia
  • Victoria
  • Tasmania

Key Target Audience

  • Existing Agricultural Equipment Companies
  • New Market Entrants- Domestic OEMs
  • New Market Entrants- Foreign OEMs
  • Agricultural Equipment Financing Companies
  • Government Bodies
  • Investors & Venture Capital Firm
  • Agricultural Equipment Manufacturers
  • Agricultural Equipment Distributors
  • Agricultural Equipment Associations
  • Market Research and Consulting Firms
  • Government Bodies & Regulating Authorities

Time Period Captured in the Report:

  • Historical Period: 2016-2021
  • Base Period: 2021
  • Forecast Period: 2021-2026F

Visit this Link Request for a custom report

Companies Covered:

    Leading companies

  • John Deere
  • Kubota
  • CLAAS
  • AGCO
  • CNH Industrial
  • Massey Ferguson
  • CASE Agriculture
  • AGRIFARM
  • Farm Tech
  • DOBMAC
  • GASON
  • VIN ROWE
  • PELLENC

Key Topics Covered in the Report

  • Executive Summary
  • Country Overview of Australia
  • Overview and Genesis of the Agriculture Equipment Market in Australia
  • Ecosystem of Australian Agriculture Equipment Market
  • Market Segmentations of Agriculture Equipment Market in Australia
  • Snapshots on different Agriculture Equipment Markets in Australia
  • SWOT Analysis of Australia Agriculture Equipment Market
  • Growth Drivers of Australia Agriculture Equipment Market
  • Trends and Developments of Australia Agriculture Equipment Market
  • Challenges of Australia Agriculture Equipment Market
  • Competitive Analysis of Agriculture Equipment Market in Australia
  • Future Outlook and Projections of Agriculture Equipment Market in Australia, 2021-2026
  • Government Initiatives to Regulate Australia Agri-equipment Market
  • Cross Comparison of Major Players in Australia Agri-equipment Market
  • Covid-19 Impact on Australia Agri-equipment Market
  • Outlook and Future Projections for Australia Agri-equipment Market
  • Market Opportunity and Analyst Recommendations
  • Research Methodology

For More Insights On The Market Intelligence, Refer To The Link Below: -

Future Outlook of Australia Agricultural Equipment Market

Related Reports by Ken Research: -

South Africa Agricultural Equipment Market Outlook to 2025

Indonesia Agriculture Equipment Market Outlook to 2025