Philippines Agricultural Equipment Market Overview
According to SPER Market Research, the Philippines Agricultural Equipment Market is estimated to reach USD 1.24 billion by 2032 with a CAGR of 8.02%.
With the release of rice combine harvesters by Kubota, the market for agricultural equipment began to explode. Farmers were hesitant to use these tools in the beginning since they didn't know how to use them and were worried about losing their jobs. To improve farm mechanization in the nation, the government and private investors' backing was expanding.Due to the predicted rise in agricultural crop production, the Philippines' farm equipment business is expected to expand in the future.Improved government restrictions, a rise in the rate of mechanization, and the introduction of technical developments like Agricultural Robots and Drones in the next few years are all projected to contribute to the industry's growth.Equipment for Agriculture in the Philippines Market size (measured in terms of volume and value) increased, recording a positive CAGR. The market expansion was fuelled by rising government subsidies for farm mechanization, DA-organized training programs, rising acceptance of smart farming practices, rising awareness of farm machine mechanization, and rising drone technology use. The market's expansion is, however, constrained by high initial investment costs, operators without access to modern technology, and regional seasonal variations.
The Philippines' agricultural equipment market is anticipated to grow both in terms of sales volume and sales value due to the country's steadily increasing population, rising prices for agricultural equipment from new players entering the market, an increase in the availability of financing options, and the adoption of driverless tractors. There will likely be a rise in the demand for agricultural equipment as a result of a number of government support programs, including the Rural Development Project and Inclusive Partnerships for Agricultural Competitiveness Project.
Impact of COVID-19 on the Philippines Agricultural Equipment MarketThe market is expanding due to the increasing adoption of new equipment. The COVID-19 pandemic's increased labor shortage is also boosting the Philippines agriculture equipment market's revenue. However, the worldwide health crises caused a significant fall in the industry. The nationwide lockout, supported by international restrictions on the transfer of commodities, disrupted the supply chain and slowed the market's expansion even further.
Scope of the Report:
| Report Metric | Details |
| Market size available for years | 2019-2032 |
| Base year considered | 2021 |
| Forecast period | 2022-2032 |
| Segments covered | By Product Type, By Tractor Segment, By Production |
| Regions covered | Luzon, Mindanao, Visayas |
| Companies Covered | CNH (Case IH & New Holland), John Deere, Kubota, Landini, Massey Ferguson, McCormick, Yanmar |
Target Audience-
- Agricultural Equipment Associations
- Agricultural Equipment Companies
- Agricultural Equipment Distributors
- Agricultural Equipment Financing Companies
- Agricultural Equipment Manufacturers
- Government Bodies
- Investors & Venture Capital Firms
- New Market Entrants- Domestic OEMs
- New Market Entrants- Foreign OEMs
Philippines Agricultural Equipment Market Segmentation:
1. By Product Type:
- Combine Harvesters
- Planters, Seeders and Transplanters
- Tillage Equipment
- Tractors
2. By Tractor Segment:
- Upto 60 Hp
- Between 61 – 130 Hp
- Above 130 Hp
3. By Production:
- Domestically Manufactured
- Imported
4. By Region:
Key Topics Covered in the Report:
- Size of Philippines Agricultural Equipment Market (FY’2019-FY’2032)
- Overview of Philippines Agricultural Equipment Market
- Segmentation of Philippines Agricultural Equipment By Product Type (Combine Harvesters, Planters, Seeders and Transplanters, Tillage Equipment, Tractors)
- Segmentation of Philippines Agricultural Equipment Market By Tractor Segment (Upto 60 Hp, between 61 – 130 Hp, above 130 Hp)
- Segmentation of Philippines Agricultural Equipment Market By Production (Domestically Manufactured, Imported)
- Statistical Snap of Philippines Agricultural Equipment Market
- Growth Analysis of Philippines Agricultural Equipment Market
- Problems and Challenges in Philippines Agricultural Equipment Market
- Competitive Landscape in the Philippines Agricultural Equipment Market
- Impact of COVID-19 and Demonetization on Philippines Agricultural Equipment Market
- Details on Recent Investment in Philippines Agricultural Equipment Market
- Competitive Analysis of Philippines Agricultural Equipment Market
- Major Players in the Philippines Agricultural Equipment Market
- SWOT Analysis of Philippines Agricultural Equipment Market
- Philippines Agricultural Equipment Market Future Outlook and Projections (FY’2019-FY’2032)
- Recommendations from Analyst
1. Introduction
1.1. Scope of the report
1.2. Market segment analysis
2. Research Methodology
2.1 Research data source
2.1.1 Secondary data
2.1.2 Primary data
2.1.3 SPER’s internal database
2.1.4 Premium insight from KOL’s
2.2 Market size estimation
2.2.1 Top-down and Bottom-up approach
2.3 Data triangulation
3. Executive Summary
4. Market Dynamics
4.1. Driver, Restraint, Opportunity and Challenges analysis
4.1.1 Drivers
4.1.2 Restraints
4.1.3 Opportunities
4.1.4 Challenges
4.2. COVID-19 Impacts of the Philippines Agricultural Equipment Market
5. Market variables and outlook
5.1. SWOT analysis
5.1.1 Strengths
5.1.2 Weaknesses
5.1.3 Opportunities
5.1.4 Threats
5.2. PESTEL analysis
5.2.1 Political landscape
5.2.2 Economic landscape
5.2.3 Social landscape
5.2.4 Technological landscape
5.2.5 Environmental landscape
5.2.6 Legal landscape
5.3. PORTER’S five forces analysis
- 5.3.1 Bargaining power of suppliers
- 5.3.2 Bargaining power of Buyers
- 5.3.3 Threat of Substitute
- 5.3.4 Threat of new entrant
- 5.3.5 Competitive rivalry
5.4. Heat map analysis
6. Competitive Landscape
6.1 Philippines Agricultural Equipment Manufacturing Base Distribution, Sales Area, Product Type
6.2 Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in Philippines Agricultural Equipment Market
7. Philippines Agricultural Equipment Market, By Product Type, 2019-2032 (USD Million)
7.1 Combine Harvesters
7.2 Planters, Seeders and Transplanters
7.3 Tillage Equipment
7.3.1 Ploughs
7.3.2 Harrows
7.3.3 Rotovators
7.4 Tractors
8. Philippines Agricultural Equipment Market, By Tractor Segment, 2019-2032 (USD Million)
8.1 Upto 60 Hp
8.2 Between 61 – 130 Hp
8.3 Above 130 Hp
9. Philippines Agricultural Equipment Market, By Production, 2019-2032 (USD Million)
9.1 Domestically Manufactured
9.2 Imported
10. Philippines Agricultural Equipment Market, By Region, 2019-2032 (USD Million)
10.1 Philippines Agricultural EquipmentSize and Market Share by Region (2019-2025)
10.2 Philippines Agricultural EquipmentSize and Market Share by Region (2026-2032)
10.3 Luzon
10.4 Mindanao
10.5 Visayas
11. Company Profiles
11.1 CNH (Case IH & New Holland)
11.1.1 Company details
11.1.2 Financial outlook
11.1.3 Product summary
11.1.4 Recent developments
11.2 John Deere
11.2.1 Company details
11.2.2 Financial outlook
11.2.3 Product summary
11.2.4 Recent developments
11.3 Kubota
11.3.1 Company details
11.3.2 Financial outlook
11.3.3 Product summary
11.3.4 Recent developments
11.4 Landini
11.4.1 Company details
11.4.2 Financial outlook
11.4.3 Product summary
11.4.4 Recent developments
11.5 Massey Ferguson
11.5.1 Company details
11.5.2 Financial outlook
11.5.3 Product summary
11.5.4 Recent developments
11.6 McCormick
11.6.1 Company details
11.6.2 Financial outlook
11.6.3 Product summary
11.6.4 Recent developments
11.7 Yanmar
11.7.1 Company details
11.7.2 Financial outlook
11.7.3 Product summary
11.7.4 Recent developments
12. List of Abbreviations
13. Reference Links
14. Conclusion
15. Research Scope
SPER Market Research’s methodology uses great emphasis on primary research to ensure that the market intelligence insights are up to date, reliable and accurate. Primary interviews are done with players involved in each phase of a supply chain to analyze the market forecasting. The secondary research method is used to help you fully understand how the future markets and the spending patterns look likes.
The report is based on in-depth qualitative and quantitative analysis of the Product Market. The quantitative analysis involves the application of various projection and sampling techniques. The qualitative analysis involves primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes are validated through experts opinion. Our research methodology entails an ideal mixture of primary and secondary initiatives.
