Cambodia Agricultural Machinery Market Size

Cambodia Agriculture Market Analysis

The Cambodia agricultural machinery market is projected to register a CAGR of 4.1% during the forecast period.

• The Ministry of Agriculture, Forestry and Fisheries (MAFF) has been working with the private sector and development partners to integrate the use of agricultural machinery into middle-class farming communities to respond to the current and future decline in the agricultural workforce. The government aims to make Cambodia a high middle-income country by 2030 and a high-income country by 2050. At the same time, it has an ambition to modernise Cambodia's agricultural sector to be more competitive, environmentally resilient, and sustainable in order to increase the income of farmers' families, expand prosperity and improve the wellbeing of the Cambodian people.
• The policies of the Ministry of Agriculture is promoting the use of machinery in large- and small-scale farms in order to increase the productivity of the crop. This step was taken to address a growing labor shortage within the region and increasing costs of manual labor which are impacting the growth of agricultural machinery in the region. Farm mechanization helps to produce higher quality agricultural harvests and even boosts the production of the market in the coming years.
• Over the medium term, the agricultural machinery market in Cambodia is expected to witness steady growth. The key factors include the increasing focus of farmers on sustainable agricultural mechanization, rising public-private partnerships in Cambodia, and improvement in financial access to services, which are driving the market growth during the forecast period.