Table of Contents
Agricultural Mechanization industry in South East Asian countries is expected to grow at a rapid pace owing to the government efforts to bridge the supply and demand gap of agriculture through R & D and technology efforts. Countries like Japan and South Korea are already highly mechanized. Thailand is moderately mechanized, however immense growth opportunities exists in Indonesia, Malaysia,Vietnam and Philippines. Each country has its own characteristics and patterns in agriculture production, labour workforce, crop yields etc..
In 2015, market size of agricultural equipment sector of these two countries was XX thousand units and is expected to grow to XXX thousand units in 2020 at CAGR of XX%. Key growth drivers for agricultural equipment industry in Japan and South Korea are
Ageing rural population
Technical progress: Investment in R&D
Agricultural equipment sector in other emerging South East Asian countries of Indonesia, Thailand, Philippines, Vietnam and Malaysia have been witnessing robust demand and stands to gain maximum due to the need to use technologically advanced equipment in the farms in the future. In 2015, market size of agricultural equipment sector in these emerging South East Asian countries were XXX thousand units and it is expected to grow to XXX thousand units by 2020 at CAGR of XX%. Key growth drivers for agricultural equipment industry in these emerging South East Asian countries are
Rising farming income (High Support prices)
Govt thrust to enhance productivity and yield
Acute and increasing labour shortages
Improved availability of credit to the farmers.
Government subsidies on farming equipment
Rising customer awareness
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