China Agriculture Equipment Industry Report Archives

China Agricultural Machine Market Growth, Share, Emerging Trends, CAGR Status, Revenue, Key Manufacturers, Opportunities and Future Outlook by 2033: SPER Market Research

Tools used for specific tasks or purposes in agriculture are called agricultural equipment (cultivating farm land and rearing animals). By reducing human effort and the faults, physical flaws, and waste in agriculture brought on by human labour and tiredness, these instruments increase production and efficiency in the field of agriculture. Agricultural equipment differs from other types of machinery in that it is not powered by its own unique energy sources, such as fuel, electricity, steam, or gas, and it does not contain several moving components made to accomplish specific tasks.

According to SPER market research, ‘China Agriculture Equipment Market Size- By Tractors, By Equipment, By Sprayers, By Harvesting Machinery, By Haying & Forage Machinery- Regional Outlook, Competitive Strategies and Segment Forecast to 2033’ state that the China Agriculture Equipment Market is predicted to reach USD XX billion by 2033 with a CAGR of 6.5%.

The market is expanding more quickly due to the rising need for technologically sophisticated equipment to increase agricultural production and efficiency. The agricultural equipment industry is expanding thanks to the use of new technologies in production, such as drones, GPS-equipped equipment, IoT-based equipment, and AI-based equipment. These technologies are pushing equipment makers to create products that satisfy end-user requirements. By increasing digitization in the agriculture industry, the use of these technologies has supported market expansion.

A significant financial commitment is made when purchasing farm equipment, such as tractors and harvesters, which also account for the majority of the worldwide rental industry. The entire process of designing, producing, and distributing this equipment is expensive, as seen by the cost of the agricultural equipment that is available. Farm equipment adoption is low in emerging economies, partly due to small-scale farmers’ limited investment capacities. Renting agricultural gear is a popular choice among farmers since it increases speed and production, which improves company profitability and efficiency. Compared to purchasing equipment through conventional financing, renting it is a more affordable option. Thus, the need for agricultural equipment rental services has increased as a result of the worldwide labour shortage and growing wages.

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The COVID-19 epidemic caused a severe decline in the Chinese Farm machinery sector, with dealership networks suffering the most as a result of supply chain interruptions. Moreover, production facilities weren’t operating at full capacity. Tractor sales fell precipitously during the epidemic as a result of travel restrictions delaying manufacturing and disrupting supplies. Consequently, the COVID-19 epidemic had a detrimental effect on the Chinese market for agricultural machinery.

China Agricultural Machinery Market Key Players:

China is the world’s biggest market for agricultural machinery and one of the biggest producers of farming equipment. Mainly located in the provinces of Shandong, Henan, Jiangsu, Liaoning, and Zhejiang are the farm machinery industry. Large tractors and harvesting machines with high horsepower and high levels of automation are among the best-selling categories of agricultural machinery in the nation. Additionally, some of the key market players are CNH Industrial NV, Lovol Heavy Industry Co. Ltd, Weichai Power Co. Ltd, YTO Group Corporation and some others.

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China Agriculture Equipment Market Revenue

Brazil Electric Tractor Market Size- By Application, By Power Source, By Type- Regional Outlook, Competitive Strategies and Segment Forecast to 2033

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China Agriculture Equipment Market Share 2023, Growth, Latest Trends, Key Manufacturers, Competitive Analysis and Forecast by 2033: SPER Market Research

The variety of tools and machinery that farmers use for various jobs and operations on their farms is referred to as agricultural equipment. Harvesters, tractors, and ploughs are a few of these implements. In comparison to earlier, more laborious methods, farmers use modern agricultural machinery to increase crop yields in less time and with less physical effort. These devices are essential in contemporary agriculture because of the high cost of farm work.

According to SPER market research, ‘China Agriculture Equipment Market Size- By Tractors, By Equipment, By Sprayers, By Harvesting Machinery, By Haying & Forage Machinery- Regional Outlook, Competitive Strategies and Segment Forecast to 2033’ state that the China Agriculture Equipment Market is predicted to reach USD XX billion by 2033 with a CAGR of 6.5%.

The China Agriculture Equipment Market is anticipated to experience significant growth over the course of the forecast period, supported by rising government investments in the country’s agricultural sector as well as reasonable rebates and incentives the Chinese government has introduced to make buying farm equipment more convenient.

In China, there is a substantial need for large and medium tractors, and sales are rising quickly. Small tractors are the most often purchased agricultural equipment in China because they are more accessible and used by regular farmers. A further factor driving up demand for small tractors is the country’s farmers’ rising per capita income. A single harvesting machine, which completes a single task, and a combine/multipurpose harvesting machine, which can harvest a variety of crops, are the two categories of harvesting equipment used in the report. Additionally, there are three subcategories of combine harvesters: those used for harvesting rice, wheat, and other crops.

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Despite the fact that China’s agricultural equipment business is built on rapidly developing technology, some of the key obstacles impeding its growth include a lack of human resources and the infrastructure required to create advanced farming machinery that can compete with imported goods. As a result, China is heavily dependent on imports for cutting-edge farming machinery.

Impact of COVID-19 on China Farm Equipment Market Outlook

The COVID-19 epidemic had a severe impact on the agricultural equipment market in China and disrupted supply, production, and distribution networks. Industries were temporarily shut down as a result of quarantine measures, which increased material costs and caused production delays. Farmer financing became difficult, initially resulting in fewer equipment sales. Nevertheless, the pandemic’s effects were lessened by the Chinese government’s implementation of supportive measures like tax reductions, loan guarantees, and infrastructural projects. The crisis hastened the introduction of digital farming techniques like precision farming, which will likely fuel business expansion in the future.

China Agricultural Machinery Market Key Players:

China is one of the world’s major producers of agricultural machinery and the largest market for it. Shandong, Henan, Jiangsu, Liaoning, and Zhejiang provinces house the majority of the farming equipment industries. Additionally, some of the market key players are AGCO Corporation, CNH Industrial NV, Lovol Heavy Industry Co. Ltd, Weichai Power Co. Ltd, YTO Group Corporation, Others.

Our in-depth analysis of the China Agriculture Equipment Market includes the following segments:

The SPER Market Research report seeks to give market dynamics, demand, and supply forecasts for the years up to 2033. This report contains statistics on product type segment growth estimates and forecasts.

By Tractors:

Engine Power
1 25 HP to 100 HP
2 Above 100 H

By Equipment:

Plows
Harrows
Rotovators & Cultivators
Seed & Fertilizer Drills
Fertilizer Spreaders
Other Equipment

By Sprayers:

Field-crop Sprayers
Orchard Sprayers

By Harvesting Machinery:

Combine Harvesters
Forage Harvesters
Other Harvesting Machinery
By Haying & Forage Machinery:
Mowers & Conditioners
Balers
Other Haying & Forage Machinery

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.