Vietnam Agriculture Machinery Market Introduction and Overview
According to SPER Market Research, the Vietnam Agriculture Machinery Market is estimated to reach USD XX billion by 2033 with a CAGR of 11.71%.
The report includes an in-depth analysis of the Vietnam Agriculture Machinery Market, including market size and trends, product mix, distribution channels, and supplier analysis. Agriculture equipment consists of machines or fabricated pieces that increase land yield in agro-based economies around the world. The equipment directly encourages farmers or land operators to integrate automated technologies into their traditional farming practices. Furthermore, the scarcity of human labour and the high cost of cattle maintenance on the working site in many countries have prompted consumers to take use of the advantages of updated equipment in farming applications.
- THACO Industries, a recently established subsidiary of the automaker THACO Group, has committed USD 550 million towards the large-scale manufacturing of agricultural machinery and auxiliary industrial goods, including auto parts and components, semi-trailers, and other supplementary machinery, for both local and international markets.
- Kubota and US chipmaker Nvidia have worked together to create extremely advanced autonomous self-driving agricultural tractors. The tractors are outfitted with cameras, Nvidia graphics processing units, and artificial intelligence to interpret data in real time and offer a labor-saving solution that will assist alleviate the manpower shortfall in Japan's and Vietnam's agriculture industries.
Market Opportunities and Challenges
Vietnam Agriculture Machinery market offers a variety of opportunities and difficulties. Row-crop tractors are in high demand as a result of the growing farm mechanization of agriculture and the increasing scarcity of farm laborers, which drives up sales of agricultural machinery in Vietnam. The contemporary planter tractor has been formed and is still being developed by the growing need for low power under limited arable land, precision, handling, and efficiency. Crops that are specifically designed to suit all agricultural needs, including weed management, plowing, harrowing, leveling, drawing seed drills, and operating diverse machinery like belt pulley threshers and water pumps, are grown using row-crop tractors. These tractors come with interchangeable drive wheels with varying tread widths, these are the reasons that create opportunities.
However, there are some challenges like the agricultural industry's expansion and technical advancements cause up input costs for equipment commissioning on farms. Additionally, using such sophisticated agricultural equipment results in expensive maintenance and operation costs, which reduces the profitability of agricultural operations. Farmers were concerned about the need for experienced workers to manage and oversee operations due to the complicated machine's participation in farming activities.
Market Competitive Landscape
There are numerous surgical kit market key players, operating throughout Europe, which has led to a moderate degree of market competition. Among the leading players are B. Braun Melsungen; Erbe Elektromedizin GmbH; Medtronic plc; Smith & Nephew; Swann-Morton; GEISTER Medizintechnik GmbH; RESORBA Medical GmbH.
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
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| Regions covered | Eastern Region, Western Region, Southern Region, Northern Region
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| Companies Covered | Kubota Corporation, CLAAS KGaA GmbH, Vietnam Engine and Agricultural Machinery Corporation (VEAM), Yanmar Vietnam, Vietnam Agrotech Co., Ltd, CNH Industrial, ShanDong Huaxin Machinery Co. Ltd.6.3.8 Iseki Corporation, Truong Hai Auto Corporation (THACO), Tong Yang Moolsan Company Limited |
COVID-19 Impact on Vietnam Agriculture Machinery Market
The spread of the virus and its exponential expansion forced the suspension of agriculture activities. The demand for farm equipment was adversely affected by supply chain limitations and trade impediments. Farmers' hesitation to spend big money on machines because of unclear regulations further decreased the market.
Key Target Audience
- Agricultural Contractors
- Agricultural Cooperatives
- Agricultural Machinery Dealers and Distributors
- Equipment Rental Companies
- Farmers and Agricultural Enterprises
- Government Agencies and Agricultural Institutions
- Industry Associations and Trade Shows
Our in-depth analysis of the Vietnam Agriculture Machinery Market includes the following segments:
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By Product Type:
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Tractor
Rice Transplanters
Harvesting Machinery
Haying & Forage Machinery
Others
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By Region:
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Eastern Region
Western Region
Northern Region
Southern Region
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Key Topics Covered in the Report
- Vietnam Agriculture Machinery Market Size (FY’2023-FY’2033)
- Overview of Vietnam Agriculture Machinery Market
- Segmentation of Vietnam Agriculture Machinery Market By Product Type (Tractor, Rice Transplanters, Harvesting Machinery, Haying & Forage Machinery, Others)
- Statistical Snap of Vietnam Agriculture Machinery Market
- Expansion Analysis of Vietnam Agriculture Machinery Market
- Problems and Obstacles in Vietnam Agriculture Machinery Market
- Competitive Landscape in the Vietnam Agriculture Machinery Market
- Impact of COVID-19 and Demonetization on Vietnam Agriculture Machinery Market
- Details on Current Investment in Vietnam Agriculture Machinery Market
- Competitive Analysis of Vietnam Agriculture Machinery Market
- Prominent Players in the Vietnam Agriculture Machinery Market
- SWOT Analysis of Vietnam Agriculture Machinery Market
- Vietnam Agriculture Machinery Market Future Outlook and Projections (FY’2023-FY’2033)
- 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 Vietnam Agriculture Machinery Market
5. Market variable 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
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. Vietnam Agriculture Machinery Market Manufacturing Base Distribution, Sales Area, Product Type
6.2. Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in Vietnam Agriculture Machinery Market
7. Vietnam Agriculture Machinery Market, By Product Type (USD Million)
7.1. Vietnam Agriculture Machinery Market Value Share and Forecast, By Product Type, 2023-2033
7.2. Tractor
7.2.1. Engine Power
7.2.2. Less than 15 HP
7.2.3. 15 to 30 HP
7.2.4. 31 to 45 HP
7.2.5. 46-75 HP
7.2.6. More than 75 HP
7.3. Rice Transplanters
7.4. Harvesting Machinery
7.5. Haying & Forage Machinery
7.6. Others
8. Vietnam Agriculture Machinery Market Forecast, 2019-2033 (USD Million)
8.1. Vietnam Agriculture Machinery Market Size and Market Share
9. Vietnam Agriculture Machinery Market, By Product Type, 2019-2033 (USD Million)
9.1. Vietnam Agriculture Machinery Market Size and Market Share By Product Type (2019-2026)
9.2. Vietnam Agriculture Machinery Market Size and Market Share By Product Type (2027-2033)
10. Vietnam Agriculture Machinery Market, By Region, 2019-2033 (USD Million)
10.1. Vietnam Agriculture Machinery Market Size and Market Share By Region (2019-2026)
10.2. Vietnam Agriculture Machinery Market Size and Market Share By Region (2027-2033)
10.3. Eastern Region
10.4. Western Region
10.5. Northern Region
10.6. Southern Region
11. Company Profile
11.1. CLAAS KGaA GmbH
11.1.1. Company details
11.1.2. Financial outlook
11.1.3. Product summary
11.1.4. Recent developments
11.2. CNH Industrial
11.2.1. Company details
11.2.2. Financial outlook
11.2.3. Product summary
11.2.4. Recent developments
11.3. Iseki Corporation
11.3.1. Company details
11.3.2. Financial outlook
11.3.3. Product summary
11.3.4. Recent developments
11.4. Kubota Corporation
11.4.1. Company details
11.4.2. Financial outlook
11.4.3. Product summary
11.4.4. Recent developments
11.5. ShanDong Huaxin Machinery Co. Ltd.
11.5.1. Company details
11.5.2. Financial outlook
11.5.3. Product summary
11.5.4. Recent developments
11.6. Tong Yang Moolsan Company Limited
11.6.1. Company details
11.6.2. Financial outlook
11.6.3. Product summary
11.6.4. Recent developments
11.7. Truong Hai Auto Corporation (THACO)
11.7.1. Company details
11.7.2. Financial outlook
11.7.3. Product summary
11.7.4. Recent developments
11.8. Vietnam Agrotech Co., Ltd
11.8.1. Company details
11.8.2. Financial outlook
11.8.3. Product summary
11.8.4. Recent developments
11.9. Vietnam Engine and Agricultural Machinery Corporation (VEAM)
11.9.1. Company details
11.9.2. Financial outlook
11.9.3. Product summary
11.9.4. Recent developments
11.10. Yanmar Vietnam
11.10.1. Company details
11.10.2. Financial outlook
11.10.3. Product summary
11.10.4. Recent developments
11.11. Others
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.
