Market Size of Global Rice Transplanter Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 5.80 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Rice Transplanter Market Analysis
The Global Rice Transplanter Market size is estimated at USD 1.48 billion in 2023, and is expected to reach USD 1.96 billion by 2028, growing at a CAGR of 5.80% during the forecast period (2023-2028).
- The rise in population across the globe is inducing a high demand for food, which in turn is driving the demand for farming machinery such as rice transplanters, especially in regions like Asia. Therefore, agricultural laborers are shifting to urban areas. The global decline in farm labor is the major reason that farm owners opt for agricultural machinery like rice transplanters. According to data from the International Labor Organization (ILO), worldwide, the percentage of people who work in agriculture dropped to 26% in 2022.
- Reducing manpower availability for agricultural work has increased mechanical transplanters' availability because using a self-propelled transplanter gives economic benefits to the farmers over manual transplanting methods. Mechanical transplanting has significantly increased grain yield and decreased drudgery and time compared to manual operations. According to the Indian Council of Food and Agriculture (ICFA), the percentage of agriculture workers in India is estimated to decline by 25.7% in 2050.
- Asia-Pacific is the largest geographical segment of the market studied and accounts for more than half of the total share. Some of the driving factors, like increasing labor shortage work in the paddy fields and continuous technological innovations, have helped increase the efficiency of rice machinery in major rice-producing countries like India and China.
