Philippines Farm Equipment Market Outlook (2023-2029) | Trends, Size, Growth, COVID-19 IMPACT, Forecast, Companies, Analysis, Industry, Share, Revenue & Value

Philippines farm equipment market | Country-Wise Share and Competition Analysis

In the year 2021, China was the largest exporter in terms of value, followed by Malaysia. It has registered a growth of 16.87% over the previous year. While Malaysia registered a growth of 0.52% as compared to the previous year. In the year 2017, Malaysia was the largest exporter followed by China. In term of the Herfindahl Index, which measures the competitiveness of countries exporting, the Philippines has a Herfindahl index of 1297 in 2017 which signifies high competitiveness also in 2021 it registered a Herfindahl index of  1539 which signifies moderately concentrated in the market.

Philippines farm equipment market - Export Market Opportunities

Topics Covered in the Philippines Farm Equipment Market Report

The Philippines Farm Equipment Market report thoroughly covers the market by power output, by drive type, by function and equipment type. The outlook report provides an unbiased and detailed analysis of the ongoing Market trends, opportunities/high growth areas, and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.

Philippines Farm Equipment Market Synopsis

The Philippines Farm Equipment Market is projected to grow in the forecast period. The high demand for effective and sustainable farming practices in the country has led to the immense growth of the market. Government initiatives have also encouraged farmers to invest in the latest technologies to increase the crop yield.

According to 6Wresearch, the Philippines Farm Equipment Market size is projected to grow during 2023-2029. The advancement in technology has led to the robust growth of the market in recent times.  The evolving farming equipment has made farming much easier than traditional farming methods. The support of the government has also led to the major success of the market. The government has started various programs, which are aimed at increasing the productivity of the crop. The government of the country has recognized the agriculture sector as the backbone of the economy and investing hugely in the sector. The population of the country is rapidly growing and it is the major driver of the growth. The farmer of the country is under immense pressure to increase the productivity of the crop to meet the rising demand of consumers. Foreign investment is also playing a major role in the expansion of the market. There is introduction of the new technologies by foreign competitors which has given immense rise to the development of the market. The Philippines Farm Equipment Industry faces certain challenges which need to be addressed. The high cost of farm equipment is restraining the growth of the market. It limits the ability of the farmers to increase the productivity and efficiency of the farmers.

COVID-19 Impact on the Philippines Farm Equipment Market

The restriction on movement and implementation of social distancing measures by the government had signed the Farm Equipment Market in the Philippines. The agriculture industry of the country was severely affected by the onset of the pandemic. Due to the close down of the borders, the supply chain was heavily disturbed and the farmers faces financial difficulties in acquiring the new machines. The pandemic resulted in a low yield of crops and this situation led to an increase in the price of the product. The overall demand for the product declined owing to restrictions on cross-border trade. The delivery time of the final product also increased on account of disturbance in trade and import.

Philippines Farm Equipment Market: Key Players

These are the notable players in the market who are playing a vital role in the development of the market and supporting the agriculture industry and leading to Philippines Farm Equipment Market Growth.

• Kubota Philippines, Inc.
• Yanmar Philippines Corporation
• Massey Ferguson Philippines
• LS Mtron Philippines, Inc.
• John Deere Philippines
• Iseki Philippines
• Mitsubishi Agricultural Machinery Philippines
• CNH Industrial Philippines, Inc.

Market By Drive Type

Based on the drive type, both the drive types are experiencing growth in the market owing to their various use in enhancement of the agriculture activities.

Market By Function Type

According to Dhaval, Research Manager, 6Wresearch, the Plowing & Cultivating segment is driving the growth of the market due to its use in optimal crop growth.

Market by Equipment Type

On the basis of Equipment Type, the market is segmented into tractors, Combines, Sprayers, Balers, and Others. Tractors are anticipated to witness the growth on account of its increasing use in various tasks of farming such as planting, plowing, and tilling and it has led to an increase in Philippine Farm Equipment Market Share.

Key attractiveness of the report

• COVID-19 Impact on the Market.
• 10 Years Market Numbers.
• Historical Data Starting from 2019 to 2022.
• Base Year: 2022.
• Forecast Data until 2029.
• Key Performance Indicators Impacting the Market.
• Major Upcoming Developments and Projects.

Key Highlights of the Report:

s:

• Philippines Farm Equipment Market Outlook
• Market Size of Philippines Farm Equipment Market, 2022
• Forecast of Philippines Farm Equipment Market, 2029
• Historical Data and Forecast of Philippines Farm Equipment Revenues & Volume for the Period 2019 - 2029
• Philippines Farm Equipment Market Trend Evolution
• Philippines Farm Equipment Market Drivers and Challenges
• Philippines Farm Equipment Price Trends
• Philippines Farm Equipment Porter's Five Forces
• Philippines Farm Equipment Industry Life Cycle
• Historical Data and Forecast of Philippines Farm Equipment Market Revenues & Volume By Power Output for the Period 2019 - 2029
• Historical Data and Forecast of Philippines Farm Equipment Market Revenues & Volume By <30 HP for the Period 2019 - 2029
• Historical Data and Forecast of Philippines Farm Equipment Market Revenues & Volume By 31-70 HP for the Period 2019 - 2029
• Historical Data and Forecast of Philippines Farm Equipment Market Revenues & Volume By 71-130 HP for the Period 2019 - 2029
• Historical Data and Forecast of Philippines Farm Equipment Market Revenues & Volume By 131-250 HP for the Period 2019 - 2029
• Historical Data and Forecast of Philippines Farm Equipment Market Revenues & Volume By >250 HP for the Period 2019 - 2029
• Historical Data and Forecast of Philippines Farm Equipment Market Revenues & Volume By Drive Type for the Period 2019 - 2029
• Historical Data and Forecast of Philippines Farm Equipment Market Revenues & Volume By Two-wheel for the Period 2019 - 2029
• Historical Data and Forecast of Philippines Farm Equipment Market Revenues & Volume By Four-wheel for the Period 2019 - 2029
• Historical Data and Forecast of Philippines Farm Equipment Market Revenues & Volume By Function for the Period 2019 - 2029
• Historical Data and Forecast of Philippines Farm Equipment Market Revenues & Volume By Plowing & Cultivating for the Period 2019 - 2029
• Historical Data and Forecast of Philippines Farm Equipment Market Revenues & Volume By Sowing & Planting for the Period 2019 - 2029
• Historical Data and Forecast of Philippines Farm Equipment Market Revenues & Volume By Plant Protection & Fertilizing for the Period 2019 - 2029
• Historical Data and Forecast of Philippines Farm Equipment Market Revenues & Volume By Harvesting & Threshing for the Period 2019 - 2029
• Historical Data and Forecast of Philippines Farm Equipment Market Revenues & Volume By Others for the Period 2019 - 2029
• Historical Data and Forecast of Philippines Farm Equipment Market Revenues & Volume By Equipment Type for the Period 2019 - 2029
• Historical Data and Forecast of Philippines Farm Equipment Market Revenues & Volume By Tractors for the Period 2019 - 2029
• Historical Data and Forecast of Philippines Farm Equipment Market Revenues & Volume By Combines for the Period 2019 - 2029
• Historical Data and Forecast of Philippines Farm Equipment Market Revenues & Volume By Sprayers for the Period 2019 - 2029
• Historical Data and Forecast of Philippines Farm Equipment Market Revenues & Volume By Balers for the Period 2019 - 2029
• Historical Data and Forecast of Philippines Farm Equipment Market Revenues & Volume By Others for the Period 2019 - 2029
• Philippines Farm Equipment Import Export Trade Statistics
• Market Opportunity Assessment By Power Output
• Market Opportunity Assessment By Drive Type
• Market Opportunity Assessment By Function
• Market Opportunity Assessment By Equipment Type
• Philippines Farm Equipment Top Companies Market Share
• Philippines Farm Equipment Competitive Benchmarking By Technical and Operational Parameters
• Philippines Farm Equipment Company Profiles
• Philippines Farm Equipment Key Strategic Recommendations

Market Covered

The report offers a comprehensive study of the subsequent market segments

By Power Output

• 30 HP
• 31-70 HP
•  71-130 HP
• 131-250 HP
• >250 HP

By Drive Type

• Two-Wheel
• Four-Wheel

By function Type

• Plowing & Cultivating
• Sowing & Planting
• Plant Protection & Fertilizing
• Harvesting & Threshing
• Others

By Equipment type

• Tractors
• Combines
• Sprayers
• Balers
• Others