Global Market Research Reports : Ken Research: Philippines Agriculture Machinery Sales

Showing posts with label Philippines Agriculture Machinery Sales. Show all posts

Tuesday, September 3, 2019

Philippines Agricultural Equipment Market is driven by Increasing Adoption of Smart Farm Practices and Extensive Government Support: Ken Research

“Increased Marketing Expenditure and increasing Farm Mechanization in the country has driven the growth of agricultural equipment market in Philippines”.

Increase in agriculture crop production: The agriculture crop production during the review period (2013-2018) increased and reached over 90 million metric tonnes in 2017 thereby increasing the income generated by the farmers and stimulating the demand for agricultural equipment market.

DA supported Training Programs: The Agricultural Training Institute set up by DA has partnered with Social Institute for Poverty Alleviation and Governance to deliver courses to teach farmers about climate-smart practices including the optimal use of modern technology and crop and soil management. The programs aim at raising awareness about the potential benefits of mechanization in farming.

Adoption of Smart Farming Methods: Programs such as Smart Plant Production in Controlled Environments (SPICE) includes techniques such as vertical farming, micro propagation, cryopreservation and hydroponics are designed to develop and promote urban farming and high-tech plant conservation. Such programs have helped in increasing the demand for agricultural equipments in the country.

Easy Credit Financing Option: Combined efforts by the national government as well as the global organizations (such as the World Bank) have led to the formation of number of projects such as Production Loan Easy Access (PLEA), Survival and Recovery (SURE) and Agricultural Competitiveness Enhance Fund (ACEF) to support financing of agricultural equipments in Philippines. This increase in the ease of financing of agriculture equipments boosted their demand in the review period (2013-2018).

Increase in the irrigated land: Increase in irrigated area in the review period (2013-2018), reaching up to 1.89 million hectare acres in 2017, showed that there has been an increase in the efforts put by the farmers to increase the productivity of the land to gain more agricultural output and therefore, there will be an increase in the demand of the agricultural equipments for the same and hence, it stimulated the growth in the Philippines agricultural equipments market.

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)” by Ken Research suggested that Philippines Agricultural Equipment Market is at growth stage and has been growing from 2013 due to rising awareness about Farm Mechanization in the country. The market has grown with a positive CAGR of 9.4% in terms of sales value and 9.2% in terms of sales volume during the period 2013-2028.

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:

Philippines Agricultural Equipment Market Outlook to 2023

Related Reports

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)

Brazil Agricultural Equipment Market Outlook To 2023 - By Product Type (Tractors, Combine Harvesters, Tillage Equipment, Precision Farming Equipments, Planters & Seeders And Others), By Domestic Production & Imports And By Region (South, North, Midwest And Mideast)

South Africa Agricultural Equipment Market Outlook To 2025-By Product Type (Tractors, Tillage Equipment, Planters & Seeders, Sprayers, Combine Harvesters, Precision Farming And Others); By Domestic Sales And Import; By Region (Free State, Mpumalanga, Kwa Zulu Natal And Others)

Contact Us:

Ken Research

Ankur Gupta, Head Marketing & Communications

sales@kenresearch.com

+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.