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

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“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

[email protected]

+91-9015378249

The post Philippines Agricultural Equipment Market is driven by Increasing Adoption of Smart Farm Practices and Extensive Government Support: Ken Research appeared first on Ken Research.



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