Market Snapshot
| Study Period: | 2016 - 2026 |
| Base Year: | 2020 |
| CAGR: | 2.2 % |
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Market Overview
The Japanese agriculture machinery market is projected to register a CAGR of 2.2% during the forecast period (2021-2026).
The COVID-19 has directly impacted the market due to stringent lockdown regulations that affect the supply chain in the agricultural machinery industry. However, the industry experts believe that post-COVID-19, precision agriculture may take an exponential growth in helping the farmers and food industry for higher and sustainable yield. Therefore, this is likely to enhance the demand for agricultural machinery in the coming years.
The agriculture sector contributes only 1.4% to the country’s GDP, and as low as 12% of the land is suited for agriculture in the country. As a highly industrialized country, Japan’s agriculture equipment industry is also quite developed. However, to fully utilize the limited arable land, the Japanese agriculture equipment market is expected to witness a surge during the forecast period. In order to sustain its population, compiled with a low level of arable land, Japan strives toward utilizing its agricultural land to its fullest.
Scope of the report
The agricultural machinery market is estimated to grow remarkably during the forecast period. This report provides a complete analysis of the market drivers, restraints, opportunities, and revenue status, along with the competitive landscape. The market is segmented by type into tractors, plowing and cultivating machinery, planting machinery, harvesting machinery, haying machinery, and irrigation machinery.
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| Irrigation Machinery |
Key Market Trends
Need to Increase the Farm Productivity Triggers the Demand
According to the World Bank, total agricultural land in Japan is 12.26 % of the total land in 2016. This land is challenging to meet the food demands of the Japanese population with limited agricultural land. This causes the urgency to increase farm productivity, which can be achieved by farm mechanization. The machines with the latest technology, such as precision agriculture machinery, utilize most of the land effectively and aid in increasing production. Machines, such as combine harvesters, reduce grain wastage during harvesting and support in meeting the food demand in the country.
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Rise in the Number of Tractors
The tractor is one of the basic farm machinery, which most farmers use. The tractor sales were recorded as 32,816 in 2018. The majority of tractors sold are mid-sized tractors with 21 - 30 HP capacity. The number of tractors utilized has been increasing significantly since 2016. Lack of labor, increased labor cost, favorable government policies, credit facilities, and the need to increase agricultural productivity are some of the major factors causing the rise in tractor sales.
Furthermore, driverless tractors are likely to gain popularity in the coming years, as they augment farming efficiency as compared to other tractors. The Ministry of Agriculture, Forestry, and Fisheries (Japan) is planning to reduce the production costs of rice through the development of technology like autonomous tractors.
Competitive Landscape
The agriculture machinery market in Japan is fragmented, with major players holding a small share. These companies follow strategies, such as new product launches and extensive promotions to increase their sales. The Japanese agricultural machinery industry is dominated by domestic players, like Mitsubishi Agricultural Machinery Co. Ltd, Yanmar Co. Ltd, Iseki Co. Ltd, and Kubota Corporation.
Recent Developments
In February 2021, Yanmar upgrades the robot tractor sector with the launch of YT488A/498A/4104A/5113A. This new model may utilize a multi-frequency antenna for stable connection and higher positioning accuracy that allows even greater flexibility in the field.
In September 2020, John Deere expanded mowers portfolio by launching a new C500 that helps to harvest more acres in very little time.
Table of Contents
1. INTRODUCTION
1.1 Market Definition and Study Assumptions
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.3 Market Restraints
4.4 Industry Attractiveness - Porter's Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Consumers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 By Product Type
5.1.1 Tractors
5.1.1.1 Horse Power
5.1.1.1.1 Below 20HP
5.1.1.1.2 21 - 30 HP
5.1.1.1.3 31 - 50 HP
5.1.1.1.4 Above 50 HP
5.1.1.2 Type
5.1.1.2.1 Utility Tractor
5.1.1.2.2 Row Crop Tractor
5.1.1.2.3 Compact Utility Tractor
5.1.1.2.4 Other types
5.1.2 Ploughing and Cultivating Machinery
5.1.2.1 Ploughs
5.1.2.2 Harrows
5.1.2.3 Cultivators and Tillers
5.1.2.4 Other Plowing and Cultivating Machinery
5.1.3 Planting Machinery
5.1.3.1 Seed Drills
5.1.3.2 Planters
5.1.3.3 Spreaders
5.1.3.4 Other Planting Machinery
5.1.4 Harvesting Machinery
5.1.4.1 Mowers
5.1.4.2 Balers
5.1.4.3 Other Harvesting Machinery
5.1.5 Haying Machinery
5.1.6 Irrigation Machinery
6. COMPETITIVE LANDSCAPE
6.1 Most Adopted Strategies
6.2 Market Share Analysis
6.3 Company Profiles
6.3.1 Agrale
6.3.2 Messey Ferguson (AGCO)
6.3.3 Deere and Company
6.3.4 AGCO Corp.
6.3.5 CNH Industrial NV
6.3.6 Kukje Machinery Company Limited
6.3.7 Kubota Tractor Corp.
6.3.8 Mahindra & Mahindra Ltd
6.3.9 Yanmar Company Limited
6.3.10 Kubota Corporation
6.3.11 Netafim Limited
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
8. IMPACT OF COVID-19 ON THE MARKET
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Frequently Asked Questions
What is the study period of this market?
The Japan Agricultural Machinery Market market is studied from 2016 - 2026.
What is the growth rate of Japan Agricultural Machinery Market?
The Japan Agricultural Machinery Market is growing at a CAGR of 2.2% over the next 5 years.
Who are the key players in Japan Agricultural Machinery Market?
Deere & Company, Kubota Corporation, Mitsubishi Mahindra Agricultural Machinery Co. Ltd, Yanmar Co. Ltd, Iseki & Co. Ltd are the major companies operating in Japan Agricultural Machinery Market.
