Dublin, Sept. 27, 2019 (GLOBE NEWSWIRE) -- The "Asia Pacific Agriculture Equipment Market (2019-2025): Market Forecast By Products (Harvesters, Threshers, Pumps, Power Tillers, Rotavators and Others), by Countries and Competitive Landscape" report has been added to ResearchAndMarkets.com's offering.

Asia Pacific (APAC) agriculture equipment market is projected to grow at a CAGR of 5.2% during 2019-2025.

APAC agriculture equipment market is anticipated to witness healthy growth during the forecast period as the region is going through a phase of transition from conventional methods of farming to mechanized farm practices. The declining number of workers involved in agricultural practices, rising labor cost, government subsidies on purchase of agriculture machines, increased need for operational efficiency and modernization of agriculture sector are the major reasons that are expected to drive the market of agriculture equipment in the Asia Pacific region during the forecast period.

A major reason for the growth is the increased government support in way of subsidies on the purchase of agriculture equipment and fixing minimum crop price to stabilize farmers income. Examples include the Sub-Mission on Agriculture Mechanization Scheme in India and Indonesia Agriculture Work Plan 2019. Other factors that are expected to drive the APAC agriculture equipment market are the rapid urbanization, increased food demand, migration and ageing of the rural population, due to which the number of farmers is decreasing, and dependence on farm mechanization is expected to increase in the region during the forecast period.

Countries such as Japan and China are projected to grow at a slower pace as compared to other countries in the APAC region as the market in these countries is already reached a saturation level. However, the market is anticipated to witness a phase of recovery from 2019 onwards. China is the major contributor to the Asia Pacific agriculture equipment market revenues.

Amongst all the products, the tractor is the major shareholder in the Asia Pacific agriculture equipment market revenues and is expected to maintain its dominance during the forecast period as well. Moreover, 30.1-70 HP segment acquired the major revenue share in the market of tractors, rotavators, and threshers in the APAC region, while 70.1- 130 HP is the major revenue contributor in case of harvesters. For pumps, 130.1- 200 HP and for power tillers, less than 30 HP acquired the largest share in the total market revenue of these products in 2018.

Some of the key players in the Asia Pacific agriculture equipment market are Kubota, Mahindra & Mahindra, Yanmar, John Deere, Claas, CNH Industrial, AGCO, CNP Pumps, Ebara and Torishima.

Markets Covered

By Products

• Tractors
  • Up to 30 HP
  • 30.1 HP- 70 HP
  • 70.1 HP- 130 HP
  • 130.1 HP- 200 HP
  • Above 200 HP

• Harvesters
  • Up to 30 HP
  • 30.1 HP- 70 HP
  • 70.1 HP- 130 HP
  • 130.1 HP- 200 HP
  • Above 200 HP

• Threshers
  • Up to 30 HP
  • 30.1 HP- 70 HP
  • 70.1 HP- 130 HP
  • 130.1 HP- 200 HP
  • Above 200 HP

• Pumps
  • Up to 30 HP
  • 30.1 HP- 70 HP
  • 70.1 HP- 130 HP
  • 130.1 HP- 200 HP
  • Above 200 HP

• Power Tillers
  • Up to 30 HP
  • 30.1 HP- 70 HP

• Rotavators
  • Up to 30 HP
  • 30.1 HP- 70 HP
  • 70.1 HP- 130 HP

• Others (Rice Transplanter, Weeders, Excavators and Farm Carriers)

By Countries

• India
• Indonesia
• Japan
• China
• Australia
• Rest of Asia Pacific

Company Profiles (Top 10)

• CLAAS KGaA mbH
• CNH Industrial N.V.
• CNP Pumps
• Deere & Company
• Ebara
• Grundfos
• Kubota Corporation
• Mahindra & Mahindra
• Massey Ferguson
• Torishima Mfg. Co. Ltd.
• Yanmar Co. Ltd.

For more information about this report visit https://www.researchandmarkets.com/r/9oxj4a

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