South Asia Agriculture Equipment market is driven by the fact that these equipment ease farming operations like irrigation, planting, harvesting, soil cultivation, and likewise. Thus, lead times for landscaping and agricultural produce or gardening get reduced. Persistence Market Research has walked through this nitty-gritty in its latest market study entitled “South Asia Agriculture Equipment Market”.
How is South Asia Agriculture Equipment Market segregated?
South Asia Agriculture Equipment market, by product, spans tillers, tractors, water pumps, chain saws, brush cutters, blowers, ride-on mowers, and lawnmowers. By application, it’s agriculture equipment for agriculture, agriculture equipment for horticulture, agriculture equipment for forests, and agriculture equipment for lawns. Persistence Market Research has enlisted these findings with insights in its latest market study entitled “South Asia Agriculture Equipment Market”.
India is a leading player in South Asia Agriculture Equipment market. Water pumps and tractors are generally preferred all over. They collectively account for over 60% of the market share. Being an agrarian economy, this scenario is expected to persist even going forward. In Bangladesh, 70% of the land is for the cultivation of crops. This makes it a prominent player in this market. Thailand is home to shift to agricultural machinery from conventional farming. As such, tractors are being asked for by small-scale farmers. Sri Lanka is another region to ponder about.
The Agricultural Ministry of Sri Lanka, in collaboration with JICS (from the Govt. of Japan), does distribute various agricultural equipment to the farmers to promote horticulture and agriculture herein. This program is in practice since the year 1971 with the growing production of food by farmers with lower incomes. Persistence Market Research has etched the developments with corrective/preventive measures to be taken in its latest market study entitled “South Asia Agriculture Equipment Market”. In all, country-wise, the market constitutes India, Nepal, Sri Lanka, Bangladesh, and ASEAN (Indonesia, Thailand, Malaysia, Vietnam, and the Philippines).
Persistence Market Research has profiled the key players in South Asia Agriculture Equipment market as:
Lemken, Mitsubishi Mahindra Agricultural Machinery, Tractors and Farm Equipment Ltd., Yanmar Holdings, Vermeer Corporation, SDF Group, AGCO Corporation, Bucher Industries AG, Honda India Power Products Ltd., CNH Industrial N.V., ISEKI & Co., Ltd., Deere & Company, Robert Bosch Power Tools GmbH, Makita Corporation, Andreas Stihl AG & Co., CLAAS KGaA mbH, and Mahindra & Mahindra Ltd.
It has also mentioned the latest developments on this count. For instance – Truong Hai Auto Corporation, better known as THACO, has its agricultural machinery production plant with an improvised yearly production capacity of 2K tractors at Chu LaiThe same country also has 2 tractor models – L3218 (32HP) and L4018VN (40HP) since the year 2018.
What’s with the Future?
South Asia, Agriculture Equipment Market is likely to grow on an impertinent note in the next 10 years – Persistence Market Research