New Delhi, May 27, 2016: Ken Research announced its latest publication on “Vietnam Agricultural Mechanization Market Outlook to 2020 – Government Initiatives to Increase Mechanization and Enhancing Credit Availability to Drive Future Growth” provides a comprehensive analysis of the agricultural machinery market in Vietnam. The report covers aspects such as the market size on the basis of sales volume and revenue for Tractors, Combine Harvesters, Rice Transplanters and Tractor Implements. The segmentation for Tractors, Combine Harvesters and Rice Transplanters has been created on the basis of Horsepower while the segmentation for Tractor Implements has been showcased by products. The report also covers the market share, competitive landscape and working business model of major manufacturers, along with warranty policies and distribution channels of agricultural equipments. In addition to this, the report also covers the country overview, government regulation and agricultural overview of Vietnam. GDP, Per Capita Income and Population Demographics are analyzed in country overview. Land under cultivation, Changes in cropping patterns, farm holding structure and scale of mechanization are covered in agricultural overview. Regulatory policies, the import duty structure, certification and emission standard, subsidies and financing options are covered in government regulation. This report will help industry consultants, agricultural machinery manufacturers and dealers, retail chains, potential entrants and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
“According to Research Analyst at Ken Research, many leading players in the market are importing products from other Asian countries such as China and Japan as import tariff has been reduced to 0%. These players should focus on manufacturing the products locally as the scenario of domestic manufacturing of agricultural machinery is poor in Vietnam. Additionally, since imports are not controlled, it leads to unfair competition between the domestic and foreign manufacturers. The government should provide more support to local manufacturers in order to enhance domestic production of agricultural machinery in the country.
Amplifying sales of tractors along with implements, combine harvesters and rice transplanters have propelled the market for agricultural machinery in Vietnam over the period 2010-0215. Two wheel tractors or power tillers are well preferred in the north owing to smaller average farm size compared to the south. Rotavators are extremely popular in Vietnam due to the hard clay soil of Mekong river Delta. Majority of people in the country purchase implements along with the tractor.
Mechanization levels in Vietnam have surged over the period 2010-2015. Increasing number of farmers/cooperatives in the country has been purchasing agricultural tractors over the period 2010-2015. Agricultural market in Vietnam has been fragmented with product differentiation into multiple of models with different horse powers. Use of tractors 14.5 HP or below has declined over the period 2010-2015 while use of larger tractors has increased during this period.
Corporate Comm India (CCI Newswire)
