Myanmar Agriculture Machinery Market Outlook to 2025 - Government Initiatives for Modernizing the Agriculture Process and Ease of Financing will Boost the Growth in the Myanmar Agriculture Equipments Market: Ken Research
GURUGRAM, India, April 28, 2021 /PRNewswire/ --
Key Findings
- Power tillers, tractors and threshers are the most common equipments used in the Myanmar agriculture machinery segment. Out of these, Power Tillers are the most selling agricultural equipment in the region.
- The agriculture equipment market in Myanmar is currently exclusively import dependent. The Ministry of Commerce, effective from November 2017, granted the permission for joint ventures (JVs) between foreign and domestic companies to import and sell agricultural machinery.
- Central Region consisting of Dry Zone of Magway and Mandalay area and Delta Zone of Bago, Yangon, Ayeyarwady and Mon State has the highest demand for agricultural equipments in Myanmar. The region will witness a CAGR of ~10% growth in demand for tractors during 2020-2025.
Shortage of Skilled Farm Labour and Increasing Wages: The daily farm workers in rural parts of Myanmar are shifting to work in construction activities in urban regions such as Yangon and Ayeyarwady. Moreover, some workers are shifting to foreign locations such as Thailand and Cambodia in order to work in tobacco factories, as they offer better monetary opportunities. This has led to shortage of skilled labor in the region, which has driven the wages upwards. Therefore, farmers are upgrading to using equipments such as Tractors and Combine Harvesters, as they are more cost and time efficient. Further, this helps in increasing the yield and productivity.
Low Down Payments and Ease in Financing: Farmers can easily procure agricultural machinery such as Tractors and Combine harvesters by paying a small down payment of 10% and getting 2-3 years loan on semi-annual payment basis. This has helped in attracting farmers, and increasing the penetration for farming equipments in the region.
Government Efforts for Modernizing the Agriculture: Government is promoting sustainable agriculture mechanization through Agriculture Mechanization Department (AMD). It is focusing on – modernizing farmland through proper farm roads, drainage, irrigation network and other facilities, increasing the machinery usage for pre and post harvesting activities, enabling local farmers to buy tractors and educating farmers on different agriculture aspects and techniques. Many other initiatives other than this have been undertaken for improving the productivity in the country.
The report titled "Myanmar Agriculture Machinery Market Outlook to 2025: Driven by Growth in Machinery Supply and Government's Focus on Agriculture Mechanization in the Country" by Ken Research provides a comprehensive analysis on the performance of the agriculture machinery market in Myanmar. The report covers various aspects including sales value, volume, trends & developments, issues & challenges faced by the industry, competition landscape, financing players, and others. It also covers the country overview, regulatory framework, agricultural overview of Myanmar, land under cultivation, changes in the cropping patterns, farm holding structure & scale of mechanization. The report concludes with the projections for the future of industry including forecasted sales value and volume; future projections by product type and regional demand by the year ending 2025, COVID-19 impact, and analyst recommendations highlighting the major opportunities and cautions in the industry. The market is expected to register a positive six year CAGR of 25.1% and 27.1% in terms of sales value and volume respectively during the forecast period 2020-2025. Tractors market, combine harvesters market and implements market in Myanmar is further expected to grow at revenue CAGR of 30.0%, 18.0% & 27.3% respectively and volume CAGR of 30.0% & 18.0% respectively during forecast period 2020-2025.
Key Segments Covered:
Total Myanmar Agriculture Machinery Market: By Product Type
- Tractors
- Combine Harvesters
- Implements
Myanmar Tractor Market
- By Product Type
- Two Wheeler Tracto
- Four Wheeler Tractor
- By Power
- Less than 40HP
- From 40HP to 70HP
- Above 70HP
- By State
- North
- Central
- South
Myanmar Combine Harvester Market
- By State
- North
- Central
- South
Companies Covered
- Kubota Myanmar Co., Ltd.
- Sonalika
- Yanmar Myanmar Co., Ltd.
- New Holland
- John Deere
- Mahindra
- Chinese Players (Dongfeng, Iseki, Shifeng, Yto, Wuzheng Group and Others)
Key Target Audience
- Agriculture Equipment Manufacturing Companies
- Industry Associations
- Regulatory Bodies
- Financing Companies
- Agriculture Equipment Distributors & Authorized Dealerships
Time Period Captured in the Report:-
- Historical Period – 2014-2020
- Forecast Period – 2020-2025
Key Target Audience
- Agriculture Equipment Manufacturing Companies
- Industry Associations
- Regulatory Bodies
- Financing Companies
- Agriculture Equipment Distributors & Authorized Dealerships
Key Topics Covered in the Report:-
- Agriculture Overview in Myanmar
- How do Farmers operate in Myanmar?
- Supply Side of Myanmar Agriculture Machinery Market
- Myanmar Tractors and Combine Harvesters Market, 2014-2025
- Snapshot on Rental Agriculture Equipment Business in Myanmar
- Snapshot on Second Hand Machinery Market in Myanmar
- Financing for Agriculture Machinery in Myanmar
- Comparative Landscape in Myanmar Agriculture Machinery Market
- Impact of COVID-19 on Myanmar Agriculture Machinery Market
- Myanmar Future Outlook & Projections, 2020-2025
- Analyst Recommendations
- Myanmar Agriculture Equipment Sales Value
- Myanmar Tractors Market Size
- Myanmar Combine Harvesters Market Size
- Myanmar Implements Market Size
- Financing for Agriculture Equipment in Myanmar
- 2nd Hand Agriculture Equipment Scenario in Myanmar
- Rental Agriculture Equipment Scenario in Myanmar
- Major Staple Crops Produced in Myanmar
- Major Cash Crops Produced in Myanmar
- Major Rice producing Regions in Myanmar
- Trade Scenario of Food Crops in Myanmar
- Tractors in Myanmar
- Combine Harvesters in Myanmar
- Implements in Myanmar
- Production of Rice in Myanmar
- Cropping Cycle of Rice in Myanmar
- Cropland Planting Trends in Myanmar
- Myanmar Agribusiness Tools
- Myanmar Farmer Characteristics
- Daily Wage of Farmers in Myanmar
- Myanmar Average Farmer Smallholder Household
- Small Family Farming Myanmar
- Farming Systems Adopted in Myanmar
- Myanmar Farm Labor Wages
- Import Duties Myanmar Agricultural Machinery
- CO2 Emissions in Myanmar
- Competition Scenario in Myanmar Agriculture Equipment Market
- Myanmar Agriculture Equipment Market Future Revenue
- Dominance of Second Hand Tractors in Myanmar
- Average Distributor Margin Myanmar
- Myanmar Agriculture Equipment Market Covid Impact
For More Information, Refer to this link,
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Contact Us:
Ken Research
Ankur Gupta, Head Marketing & Communications
[email protected]
+91-9015378249
SOURCE Ken Research
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