Agricultural equipment is the machinery or manufactured parts that boost land yield in agro-based economies around the world. The equipment directly encourages landowners and farmers to integrate automated technology into their traditional farming practices. Among the equipment used frequently in agriculture are tractors, harvesters, ploughs, and irrigation systems. Combination harvesters significantly reduce the time and effort needed for these operations by having the ability to reap, thresh, and clean grains all in one operation. Furthermore, modern irrigation systems support more sustainable farming methods by assisting farmers in better managing their water supplies. Precision agriculture is made possible by the increasing use of technology in agricultural machinery, such as drones and GPS, which maximizes output while reducing resource use.
According to SPER market research, Vietnam Agricultural Machinery Market Size – By Melded Type, By Product Type, By Source, By End Use – Regional Outlook, Competitive Strategies and Segment Forecast to 2033’ state that the Vietnam Agricultural Machinery Market is predicted to reach USD XX billion by 2033 with a CAGR of 11.71%.
Drivers:
The growing demand for row-crop tractors brought on by greater farm mechanization and a labour shortage is one of the main factors propelling growth, as it increases sales of agricultural machinery in Vietnam. The modern planter tractor, which is still being developed today, was inspired by the growing requirement for efficiency, precision, handling, and low power on limited arable land. Row-crop tractors are used to grow crops that are specifically made to meet all agricultural needs, such as weed management, ploughing, harrowing, levelling, drawing seed drills, and running different machinery including belt pulley threshers and water pumps.
Challenges:
Technological developments and the growth of the agricultural industry are two of the many reasons contributing to the rise in input costs for farm equipment. Farmers invest in new technology to boost production and efficiency as the agricultural sector grows to meet the rising demand for food around the world. However, the substantial upfront and continuing maintenance costs associated with these cutting-edge technologies might reduce agricultural businesses’ profitability. Furthermore, competent staff are required to supervise and manage activities efficiently due to the intricacy of current farming machinery. The difficulties farmers confront in optimizing their operations while striking a balance between costs and productivity are compounded by worries about the availability of trained workers. Therefore, even though modern farm equipment increases productivity, the input and operating costs that go along with it highlight the necessity of prudent management and investment choices in the agricultural industry.
Request For Free Sample Report @ https://www.sperresearch.com/report-store/vietnam-agriculture-machinery-market.aspx?sample=1
Impact of COVID-19 on Vietnam Agriculture Machinery Market
The global market suffered as a result of the COVID-19 pandemic’s abrupt outbreak. Strict lockdowns and other government measures implemented in the wake of the crisis caused industry closures and interfered with supply chain activities in multiple end-use verticals. Early on in COVID-19, agricultural operations were halted due to the virus’s exponential growth and transmission. The market for agricultural equipment was negatively impacted by trade restrictions and supply chain constraints. Farmers’ hesitation to invest large sums of money on machinery due to uncertain limits further damaged the market. Producing coffee capsule machines became more challenging because to the COVID-19 epidemic because of a shortage of labour, raw materials, and other components.
Vietnam Agriculture Machinery Market Key Players:
The areas and regions of Mekong Delta, Dong Thap, and Kubota have been dominating the market and the trend is likely to continue, for the duration of this forecast period. Additionally, the key players in this market are Kubota Corporation, CLAAS KGaA GmbH, Vietnam Engine and Agricultural Machinery Corporation (VEAM), Vietnam Agrotech Co., CNH Industrial, Shan Dong, Hoaxing Machinery Co., and others.
Vietnam Agriculture Machinery Market Segmentation:
The SPER Market Research report seeks to give market dynamics, demand, and supply forecast for the years up to 2033. This report contains statistics on product type segment growth estimates and forecasts.
By Product Type: Based on the Product Type, Vietnam Agriculture Machinery Market is segmented as; Tractor, Rice Transplanters, Harvesting Machinery, Haying & Forage Machinery, Others.
By Region: This research also includes data for Eastern Region, Western Region, Southern Region, Northern Region.
This study also encompasses various drivers and restraining factors of this market for the forecast period. Various growth opportunities are also discussed in the report.
For More Information, refer to below link:-
Vietnam Agriculture Machinery Market Revenue
Related Reports:
Follow Us –
LinkedIn | Instagram | Facebook | Twitter
Contact Us:
Sara Lopes, Business Consultant — U.S.A.
SPER Market Research
+1–347–460–2899
