The China agricultural machinery market size is anticipated to expand at a substantial CAGR during the forecast period, 2021-2028. The growth of the market is attributed to rising demand for food due to increasing population.
In China, 75% cultivated area is used for food crops, and 25% cultivated area is under rice crop. Various types of equipment are used in agriculture, ranging from hand tools to power tools. Diverse arrays of equipment are used in both organic as well as non-organic farming. The agriculture sector is one of the major contributors of China’s global economy. However, during the COVID-19 pandemic, various restriction on production and supply chain negatively impacted the market growth.
Market Trends, Drivers, Restraints, and Opportunities
- Increasing population and urbanization is anticipated to drive the market growth during the forecast period.
- Rising demand for agricultural commodities is projected to boost the market growth in the coming years.
- Increasing government investments in the agriculture sector in China is anticipated to drive the market growth during the forecast period.
- Ongoing advancements in the development of agricultural machinery can create lucrative opportunities during the forecast period.
Scope of Agricultural Machinery Market Report
The report on the China agricultural machinery market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes
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Details
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Report Title
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China Agricultural Machinery Market - Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2020
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Historic Data
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2018–2019
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Forecast Period
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2021–2028
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Segmentation
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Tractors (Engine Power [25HP-100HP and Above 100HP]), Equipment (Plows, Harrows, Rotovators & Cultivators, Seed & Fertilizer Drills, Fertilizers Spreaders, and Others), Sprayers (Field-crop Sprayers and Orchard Sprayers), Harvesting Machinery (Combine Harvesters, Forage Harvesters, and Others), Haying & Forage Machinery (Mowers & Conditioners, Balers, and Others)
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Country
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China
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
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Key Players Covered in the Report
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YTO Group Corporation; AGCO Corporation; CNH Industrial NV; Lovol Heavy Industry Co.Ltd.; Weichai Power Co.Ltd.
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China Agricultural Machinery Market Segment Insights
25-100HP segment to hold a significant market share
Based on tractors, the market includes engine power The engine power segment is divided into 25HP-100HP and above 100HP. The above 100HP engine power segment is anticipated to hold a key share of the market in the coming years due to increasing production and increasing use of high power machinery to bring down the cost of the labor. However, the 25HP-100HP engine power segment is anticipated to expand at a rapid pace during the forecast period.
Seed & fertilizer drills segment is expected to grow at a rapid pace
On the basis of equipment, the China agricultural machinery market is segregated into plows, harrows, rotovators & cultivators, seed & fertilizer drills, and fertilizers spreaders. The harrows segment is expected to represent a key share of the market in the upcoming years owing to durability and high capacity, which makes harrows highly preferred in the agricultural machinery. On the other hand, the seed & fertilizer drills segment is anticipated to expand at a rapid pace during the forecast period as it reduces the time and labor cost.
Orchard sprayers segment is expected to expand at a robust rate
On the basis of sprayers, the market is divided into field-crop sprayers and orchard sprayers. The filed-crop sprayers segment is expected to represent a key share of the market in the upcoming years due to accurate delivery of pesticides and fertilizers to the crop. However, the orchard sprayers segment is anticipated to expand at a rapid pace during the forecast period due to its ability to cover larger area.
Forage harvesters segment to hold a major market share
Based on harvesting machinery, the China agricultural machinery market is divided combine harvesters, forage harvesters, and others. The combine harvesters segment is anticipated to hold a major share of the market in the coming years, as it provides cleaner grains by effectively separating weeds from grain. However, the forage harvesters segment is anticipated to hold a considerable share of the market in the projected timeline.
Mowers & conditioners segment is expected to expand at a substantial CAGR
On the basis of haying & forage machinery, the market is segregated mowers & conditioners, balers, and others. The balers segment is expected to represent a considerable share of the market in the upcoming years due to reduced hauling volume. On the other hand, the mowers & conditioners segment is anticipated to expand at a rapid pace during the forecast period due to reduce field curing time.
Segments
The China agricultural machinery market has been segmented on the basis of
Tractors
Equipment
- Plows
- Harrows
- Rotovators & Cultivators
- Seed & Fertilizer Drills
- Fertilizers Spreaders
- Others
Sprayers
- Field-crop Sprayers
- Orchard Sprayers
Harvesting Machinery
- Combine Harvesters
- Forage Harvesters
- Others
Haying & Forage Machinery
- Mowers & Conditioners
- Balers
- Others
Country
Key Players
Competitive Landscape
Key players competing in the China agricultural machinery market includes YTO Group Corporation, AGCO Corporation, CNH Industrial NV, Lovol Heavy Industry Co.Ltd., Weichai Power Co.Ltd.
Some of these players are engaging in business strategies such as mergers, acquisitions, partnerships, collaborations, capacity expansion, and product launches to enhance their market share.
In December 2019, CNH Industrial NV agricultural company announced the manufacturing of tillage and residue management equipment.
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