How is Myanmar Agricultural Equipment Market Positioned?
Overview: The Agriculture
Sector in Myanmar is undergoing transformation. Paddy, Sugarcane and
Maize are the most grown crop in the region. Ayeyawady, Bago, Yangon, Mandalay,
Magway and Mon State are some of the most fertile regions in the country. The
total arable land in Myanmar is ~49 Mn Acres, with number of farmers around 7.2
Mn as of March, 2018. The average farm size in the country was 2.7 Hectares as
of 2017. Major Export partners for crops are China, India, Philippines,
Cameroon and other South East Asian and European Countries. In 2018-19,
Agriculture contributed MMK 14,426.6 Mn, increasing from MMK 12,959.2 Mn.
However, the percentage contribution decreased overall.
Market: The market
is currently in growth stage, in which the demand is highest for Power Tillers.
The market is completely import oriented with majority of imports coming in
from China, India and Thailand. The government’s effort to improve
mechanization, low down payment on equipment loans, increasing brand presence,
increase in custom works and other factors has helped in development of the
market. The Agriculture Equipment market in Myanmar increased at a CAGR of ~%
on the basis of sales volume and on the other hand, the market witnessed a CAGR
of ~% on the basis of revenue during the same period.
Myanmar Agricultural Tractor Market
The tractors market in Myanmar majorly consists of 2Wheel Tractors/Power
Tillers and 4Wheel Tractors. Power Tillers are the most selling equipment in
Myanmar. Majority of Power Tillers are sold by Chinese Brands due to their low
pricing. In 4W tractors, farmers prefer to purchase large HP tractors of brands
such as Sonalika, John Deere and New Holland. Paddy Farmers prefer to purchase
Kubota Tractors. Chinese Brands are popular in the market due to low pricing.
However, those products are considered of cheap quality. The market witnessed a
CAGR of ~% in terms of sales quantity during 2014-2020P and reached a value of
MMK ~Bn in 2020P.
Myanmar Combine Harvesters Market
Combine Harvesters are useful for farmers as they speed up the harvesting
time. These equipments were introduced in market after 2010; therefore the
market is still in its growth phase. However, the high prices of these
equipments have restricted the market growth. Factors such as low down payments,
easy installments, government initiatives and others will help in development
of the market. The market was valued at MMK ~ Bn in 2014 registering a CAGR of
~% during 2014-2020 and reaching to a value of MMK ~ Bn in 2020.
Mostly, companies operating in the organized market are offering combine
harvesters of 70 HP and Above. The demand is growing for corn combine
harvesters and brands such as John Deere are planning to launch their combine
harvesters in the market soon.
The farmers aspire to purchase Kubota and Yanmar Combine Harvesters in
the region. However, combine harvesters are quite expensive which has been a
major barrier in the growth of the market. Many farmers are purchasing combine
harvesters in order to fulfill custom work requirements. This helps them in
getting another source of income.
Myanmar Combine Harvesters Market
Implements market was valued at MMK ~ Bn in terms of revenue and
witnessed a positive CAGF during the study period of 2014-2020. The demand for
implements is facilitated by the high demand for 4 wheel tractors in the
region. Many tractor dealers are offering 1 implement complimentary on purchase
of a new tractor in order to attract more customers. Ayeyarwady, Bago, Yangon,
Mon State, Mandalay and Magway are some of the regions which have high demand
for agriculture implements in the country. The growth in agricultural
mechanization status has increased the demand for implements in the region.
Rotary Tillers and Disc Harrows are the top most selling equipments in the
region. Implements are mostly used for softening the soil which helps in
plantation. Tractor implements include Disc Plough, Disc Furrow, Fertilizer
Spreaders, Rotavators and others.
Comparative Landscape in Myanmar
Agriculture Equipments Market
Competition in the Myanmar Agriculture Equipment Market was observed to
be fragmented, with presence of both international and Chinese players. The
market is completely dependent on imports with zero local production. Major
players in the market are Kubota (preferred by paddy farmers), Sonalika, John
Deere and New Holland. In Chinese players, major companies are Dongfeng,
Shifeng, WZ, YTO, Lovol, Zoomlion and others. In Combine Harvesters, Kubota and
Yanmar are having the dominance in the market. Major Parameters for competition
are Pricing, Brand Name, Distributorship Network, After Sales Service and
Others.
Myanmar Agriculture Equipment
Market Future Outlook and Projections
The Myanmar Agriculture Equipment Market will witness a good growth in
future. Some of the major growth drivers in the market are easy access to
finance, low mechanization rate, government support through Agriculture
Mechanization Department, Private-Public Partnership. The market will witness
high growth for combine harvesters. The Agriculture equipment market is
expected to reach at a value of MMK ~ Bn in 2025, witnessing a CAGR of ~%
during 2020-2025.
Key Segments Covered:
Total Myanmar Agriculture Machinery Market: By
Product Type
Tractors
Combine
Harvesters
Implements
Myanmar Tractor Market
By Product Type
Two Wheeler
Tractor
Four Wheeler
Tractor
By Power
Less than
40HP
From 40HP to
70HP
Above 70HP
By State
North
Central
South
Myanmar Combine Harvester Market
By State
North
Central
South
Companies Covered
Kubota
Myanmar Co., Ltd.
Sonalika
Yanmar
Myanmar Co., Ltd.
New Holland
John Deere
Mahindra
Chinese
Players (Dongfeng, Iseki, Shifeng, Yto, Wuzheng Group and Others)
Key Target Audience
Agriculture
Equipment Manufacturing Companies
Industry
Associations
Regulatory
Bodies
Financing
Companies
Agriculture
Equipment Distributors & Authorized Dealerships
Time Period Captured in the Report:-
Historical Period – 2014-2020
Forecast Period – 2020-2025
Key Target Audience
Agriculture
Equipment Manufacturing Companies
Industry Associations
Regulatory
Bodies
Financing
Companies
Agriculture
Equipment Distributors & Authorized Dealerships
Key Topics Covered in the Report:-
Executive
Summary
Country
Overview
Agriculture
Overview in Myanmar
How do
Farmers operate in Myanmar?
Supply Side
of Myanmar Agriculture Machinery Market
Myanmar
Tractors and Combine Harvesters Market, 2014-2025
Snapshot on
Rental Agriculture Equipment Business in Myanmar
Snapshot on
Second Hand Machinery Market in Myanmar
Financing
for Agriculture Machinery in Myanmar
Comparative
Landscape in Myanmar Agriculture Machinery Market
Impact of
COVID-19 on Myanmar Agriculture Machinery Market
Myanmar
Future Outlook & Projections, 2020-2025
Analyst
Recommendations
For More Information on The
Research Report, Refer to Below Link:
Myanmar
Agriculture Machinery Market
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Ken Research
Ankur Gupta, Head
Marketing & Communications
