Vietnamese Agricultural Machinery Market - Segmented by Tractor Population and Yearly Sales (in Unit and Value), Combine Harvester Population and Yearly Sales (in Unit and Value), Rice Transplanter Population and Yearly Sales (in Unit and Value), Tractor Implements (By Value), Sprayers (By Value), Irrigation systems (By Value) - Growth, Trends, and Forecast (2018 - 2023)

Vietnamese Agricultural Machinery Market - Segmented by Tractor Population and Yearly Sales (in Unit and Value), Combine Harvester Population and Yearly Sales (in Unit and Value), Rice Transplanter Population and Yearly Sales (in Unit and Value), Tractor Implements (By Value), Sprayers (By Value), Irrigation systems (By Value) - Growth, Trends, and Forecast (2018 - 2023)

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The Vietnamese Agricultural Machinery Market was valued at USD 115.2 million in 2017 and is expected to register a CAGR of 14.5% during the forecast period (2018-2023). Custom hiring of agriculture machinery can be observed in Vietnam as the local production of agriculture machinery is low. Agricultural co-operatives and private enterprises are the providers of machinery for hiring. Organizations that offer hiring services have efficient machinery in tillage, harvesting, threshing, drying, storage of grains, and transportation. These organizations are available especially in Mekong River Delta and Red River Delta.

Rice, maize, and sugarcane are the most cultivated crops, with rice being the most mechanized crop. Most than 70% of the cultivated area under Vietnam is mechanized. To make these expensive machinery affordable by farmers, the government is implanting supporting schemes. This is one of the major factors driving the growth of the market studied. The Vietnamese agricultural machinery is segmented by tractor population and yearly sales (in unit and value), combine harvester population and yearly sales (in unit and value), rice transplanter population and yearly sales (in unit and value), tractor implements (by value), sprayers (by value), irrigation systems (by value).

The Most Used Machinery in Vietnam – Tractors

The tractor segment is the major segment of the Vietnamese agricultural machinery market and accounts for nearly half of the market share. The segment was valued at USD 38.6 million in 2017, and is projected to register a CAGR of 12.6% during the forecast period. The tractors are increasingly being put to use in agriculture in Vietnam. According to IFPRI, in 2016, there total of 532,600 tractors, among which 294,600 were two-wheel tractors with less 15 HP; 221,300 were four-wheel tractors with 15-35 HP; and 16,700 were four-wheel tractors with more than 35 HP.       

             

Shortage of Seasonal Agriculture Labor

Though agricultural wages are low and lifestyle of laborers in industrial background is poor, people prefer industrial jobs over agriculture, as the agricultural production in Vietnam is on the decline. This situation is leading to shortage of agriculture labor in Vietnam, during the farming season.  Shortage of seasonal agriculture labor is the major driver for the implementation of machinery in agriculture, as the work of laborers can be replaced with machines. Using machines will also consume less time. 

                

Fragmented Land Holdings

Vietnam has the practice of sharing the property equally among their children. This is one of the main reasons for fragmented land holdings in Vietnam. Inter farm fragmentation and intra farm fragmentation lands can be seen in Vietnam. As the inheritance of property from the ancestors in every generation is increasing, so is the number of owners for the same land, which is reducing the size of each plot. It is harder and less economic for farmers to use modern agriculture machines in small plots, as it is difficult and time consuming to maintain boundaries and transport between plots.  

 Key Developments of Vietnamese Agricultural Machinery Market 

  • Aug 2018 – The bank for agriculture and rural development of Vietnam (Agribank) and Tata international Vietnam has signed a cooperation agreement to support the farmers for purchasing the equipment using agribank’s financial services.  
  • Jun 2018 – The Vietnam Engine and Agricultural Machinery Corporation will trade USD 1.33 billion shares on unlisted public company market (UPCoM).

Metrics

Details

Industry

Vietnamese Agricultural Machinery Market

Study Period

(2014 – 2023)

Market Size in 2017

115.2 million

Market Size in 2023

245.6 million

Growth Rate

14.5%

Key Developments

  • Aug 2018 – The bank for agriculture and rural development of Vietnam (Agribank) and Tata international Vietnam has signed a cooperation agreement to support the farmers.
  • Jun 2018 – The Vietnam Engine and Agricultural Machinery Corporation will trade USD 1.33 billion shares on unlisted public company market (UPCoM).

Report Offerings

Vietnamese agricultural machinery market offers latest trends, growth prospects, regional market share and forecast to 2023.

Reasons to Purchase the Report

  • To have an understanding of the fastest growing regions  in the Vietnamese Agricultural Machinery Market and growth trends during the forecast period
  • The report outlines drives, restraints, and trends that are currently effecting the market
  • Analyzing various perspectives of the market with the help of Porter’s five forces analysis
  • The report covers in-detail insights about the competitors’ overview and company share analysis
  • Identify the latest developments, market shares, and strategies employed by the major market players
  • 3-month analyst support, along with the Market Estimate sheet (in Excel)

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1. Introduction                                 

                1.1 Market Definition                    

                1.2 Research Methodology                         

                1.3 Key Findings of the Study                     

2. Research Scope and Methodology                                     

                2.1 Study Deliverables                  

                2.2 Market Segmentation                           

                2.3 Study Assumptions                 

                2.4 Research Methodology                         

                2.5 Research Phases                      

3. Market Dynamics                                       

                3.1 Drivers                          

                                3.1.1 Custom Hiring of Agriculture Machinery     

                                3.1.2 Shortage of Seasonal Agriculture Labor      

                                3.1.3 Favorable Government Policies     

                3.2 Restraints                    

                                3.2.1 Lack of Awareness of Modern Agriculture Techniques        

                                3.2.2 Limited Manufacturing of Agriculture Machinery   

                                3.2.3 Fragmented Land Holdings              

4. Industry Analysis                                        

                4.1 Porter's Five Forces Analysis                               

5. Market Segmentation                                              

                5.1 Tractor Population and Yearly Sales (in Unit and Value)                          

                                5.1.1 By Region

                                5.1.2 By Brand  

                                5.1.3 By Power             

                                             5.1.3.1 <12 hp

                                             5.1.3.2 12-35 hp

                                             5.1.3.3 50-70 hp

                                             5.1.3.4 >70 hp

                                5.1.4 By Power Drive     

                5.2 Combine Harvester Population and Yearly Sales (in Unit and Value)                 

                                5.2.1 By Region

                                5.2.2 By Brand  

                                5.2.3 By Power            

                                              5.2.3.1 <35 hp

                                              5.2.3.2 35-70 hp

                                              5.2.3.3 >70 hp

                5.3 Rice Transplanter Population and Yearly Sales (in Unit and Value)                      

                                5.3.1 By Region

                                5.3.2 By Brand  

                                5.3.3 By Number of Rows    

                                               5.3.3.1 4 Rows

                                               5.3.3.2 6 Rows

                                               5.3.3.3 8 Rows

                5.4 Tractor Implements (By Value)                          

                5.5 Sprayers (By Value)                

                5.6 Irrigation Systems (By Value)                              

6. Competitive analysis (2012 - 2018)                                      

                6.1 Market Share Analysis (Top 10 Brands for 2018 - By Unit)                       

                6.2 Most Adopted Strategies                     

                6.3 Most Active Companies                        

7. Analysis of Machinery Buyer Behavior                                              

                7.1 Agricultural Cooperatives                     

                7.2 Agricultural Trade Fairs                          

                7.3 Private Enterprises                  

8. Market Insight on Major Crops (by Region): Area, Mechanization Rate, Farming Practices, and Farmer Classification                                               

                8.1 Rice                

                8.2 Maize                            

                8.3 Sugarcane                   

                8.4 Groundnut                 

                8.5 Soybean                      

9. Future of the Market                               

10. Appendix                               

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