China is one of the world’s largest manufacturers of agricultural equipment and the biggest market for farming machinery. China has nearly 2,500 agricultural equipment manufacturers of which the majority of Chinese agricultural equipment manufacturers are based in Shandong, Henan, Zhejiang, Jiangsu and Liaoning provinces of China. China’s agricultural equipment has been categorized into 14 categories which cover 61 subcategories and more than 10,000 products, including land preparation, planting, harvesting, and livestock raising. China Agricultural Equipment Market is expected to reach US$ 50 Billion by the end of year 2025.
Since 2004, the country has accelerated its research and development of agricultural equipment rapidly as the Chinese government increasingly focuses on enhanced agriculture mechanization as a part of agriculture policy. Further, the government has also implemented several regulations to support better agricultural infrastructure in the country. For instance, in order to boost the sales of agricultural equipment, the Chinese ministry of agriculture provides significant subsidy and incentives on purchasing agricultural equipment to farmers. On an account during a period of 2004-2014, the Chinese government has granted approx. RMB 119.5 Billion as subsidies on the purchase of over 16 million sets of farming machinery.
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In the latest Renub Research report, China Agricultural Equipment Market, the report offers an in-depth primer of ever-evolving China Agricultural Equipment market including how the farming equipment market has grown and what it holds for the future, along with the key factors that are driving the market growth and challenges which are restraining the market growth.
With a huge population base, it has become hard for China to meet up its growing livestock demand. So, the country is trying hard to increase its livestock production by implementing improved farming techniques and machinery in the field. This requirement has increased the demand for highly mechanized agricultural equipment, which indeed drives China Agricultural Equipment Market positively over the forecast period. In addition, as most of the domestic agricultural equipment manufacturers are associated with low technology farming equipment, it again benefits foreign agricultural equipment exporters to expand their business in China.
At present, China’s local agricultural equipment manufacturers generally produce low-end agricultural machinery and so, the country is deeply dependent on foreign imports for advanced agricultural machinery. The country lacks adequate infrastructure, funding, and human capital, required to develop high-end farming equipment. According to the China Agricultural Machinery Distribution Association (CAMDA), the major domestic agricultural equipment manufacturers account less than 25 percent of the total market. As the domestic agricultural equipment manufacturers are unable to meet the growing sophisticated agricultural equipment, China relies on the United States & Europe to import high-tech farming machinery and provides huge opportunity for the United States & Europe agricultural equipment exporters.
China Agricultural Equipment market is growing very rapidly, from traditional (manual labor-intensive) to highly mechanized farming. Owing to the government laws and regulations, huge population base with changing dietary preferences and demand for quality livestock are among the key factors driving the China Agricultural Equipment market.
- Segments-wise: The report provides market, market share, volume, volume share of Large, Medium & Small Tractor, Large & Medium Towing Farm Machinery, Motorized Threshing, Trans-Planter, Harvesting Machinery sales.
- By Harvesting Machinery Types: This report covers market, market share, volume, volume share of Single Harvesting and Multi/Combine Harvesting sales.
- By Combined Harvesting Machinery Types: The report provides market, market share, volume and volume share of Rice, Wheat and Other Combine Harvesting Machinery sales.
- Company-wise the report provides overview, initiatives and business strategy of John Deere, AGCO, CLAAS KGaA, First Tractor Company Limited and Kubota Corporation.