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

Topics Covered in Vietnam Farm Equipment Market Report

Vietnam Farm Equipment Market report thoroughly covers the market by power output, drive type, 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.

Vietnam Farm Equipment Market Synopsis

Vietnam Farm Equipment Market is projected to grow in the forecast year. The rising income of the population is the key reason for the growth of the market as it has enabled farmers to purchase imported and expensive products. Local and foreign firms are investing heavily in the market to promote the mechanisation of the agriculture industry.

According to 6Wresearch, Vietnam Farm Equipment Market size is anticipated to grow during 2023-2029. Foreign investment is the major driver of the growth of the market. Foreign companies are bringing advanced technology into the market.  The role of government is crucial in the development of the market. The government is making various efforts to mechanize the agriculture industry and it is also offering subsidies to the farmers to purchase the latest available equipment in the market. The expansion of the middle class has led to an increase in demand for high-quality products that are enabled with modern techniques. There are certain challenges in the market. There is an unavailability of skilled labourers in the market who can effectively handle the latest equipment. There is a lack of access to finance for the farmers of the country who want to upgrade their equipment or purchase modern equipment. The infrastructure and transportation system of the country is poor, which further limits the growth of the market. The Market is a major part of the Asia Pacific Farm Equipment Market these factors affect the market to a great extent.

COVID-19 Impact on Vietnam Farm Equipment Market

The COVID-19 pandemic had a major impact on Farm Equipment Market. The global supply chains and economic slowdown led to the disruption and farmers found it difficult to buy machinery or even repair their existing machines. The pandemic led to a shortage of labour in the market and it led to an increase in mechanisation. The farmers heavily relied on second-hand pieces of machinery and manual labour during uncertain times and these factors led to a decrease in Vietnam Farm Equipment Market Growth. The market also witnessed some positive changes due to various steps taken by the government of the country. The government offered subsidies and tax incentives to support the local producers and encouraged the innovation in research and development domain.

Vietnam Farm Equipment Market: Key Players

These are the key players in the market who offers a wide range of products to cater to the various needs of the farmers and leading to the Vietnam Farm Equipment Industry.

• TMS Group
• Vinamilk
• Vietnam Engine and Agricultural Machinery Corporation (VEAM)
• Southern Machinery Company (COMAS)
• Tan Long Agricultural Mechanical Joint Stock Company (AGM)
• AGCO Corporation
• Kubota Corporation

Market By Drive Type

According to Ravi Bhandari, Research Head, 6Wresearch based on the drive type, the market is segmented into Two-Wheel and Four-Wheel. Both segments are expected to dominate the market as advancements in technology as made these drive types more effective and efficient in functioning.

Market By Function Type

On the basis of function type, the Farm Equipment Market In Vietnam is segmented into Plowing & Cultivating, Sowing & Planting, Plant Protection & Fertilizing, Harvesting & Threshing, and Others. Plowing & Cultivating segment will dominate the market due to its use in preparation of the soil.

Market by Equipment Type

 

On the basis of Equipment Type, the market is segmented into tractors, Combines, Sprayers, Balers, and Others. The tractor segment will dominate the market on the back of its wide use in various farming operations.

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:

• Vietnam Farm Equipment Market Outlook
• Market Size of Vietnam Farm Equipment Market, 2022
• Forecast of Vietnam Farm Equipment Market, 2029
• Historical Data and Forecast of Vietnam Farm Equipment Revenues & Volume for the Period 2019 - 2029
• Vietnam Farm Equipment Market Trend Evolution
• Vietnam Farm Equipment Market Drivers and Challenges
• Vietnam Farm Equipment Price Trends
• Vietnam Farm Equipment Porter's Five Forces
• Vietnam Farm Equipment Industry Life Cycle
• Historical Data and Forecast of Vietnam Farm Equipment Market Revenues & Volume By Power Output for the Period 2019 - 2029
• Historical Data and Forecast of Vietnam Farm Equipment Market Revenues & Volume By <30 HP for the Period 2019 - 2029
• Historical Data and Forecast of Vietnam Farm Equipment Market Revenues & Volume By 31â??70 HP for the Period 2019 - 2029
• Historical Data and Forecast of Vietnam Farm Equipment Market Revenues & Volume By 71â??130 HP for the Period 2019 - 2029
• Historical Data and Forecast of Vietnam Farm Equipment Market Revenues & Volume By 131â??250 HP for the Period 2019 - 2029
• Historical Data and Forecast of Vietnam Farm Equipment Market Revenues & Volume By >250 HP for the Period 2019 - 2029
• Historical Data and Forecast of Vietnam Farm Equipment Market Revenues & Volume By Drive Type for the Period 2019 - 2029
• Historical Data and Forecast of Vietnam Farm Equipment Market Revenues & Volume By Two-wheel for the Period 2019 - 2029
• Historical Data and Forecast of Vietnam Farm Equipment Market Revenues & Volume By Four-wheel for the Period 2019 - 2029
• Historical Data and Forecast of Vietnam Farm Equipment Market Revenues & Volume By Function for the Period 2019 - 2029
• Historical Data and Forecast of Vietnam Farm Equipment Market Revenues & Volume By Plowing & Cultivating for the Period 2019 - 2029
• Historical Data and Forecast of Vietnam Farm Equipment Market Revenues & Volume By Sowing & Planting for the Period 2019 - 2029
• Historical Data and Forecast of Vietnam Farm Equipment Market Revenues & Volume By Plant Protection & Fertilizing for the Period 2019 - 2029
• Historical Data and Forecast of Vietnam Farm Equipment Market Revenues & Volume By Harvesting & Threshing for the Period 2019 - 2029
• Historical Data and Forecast of Vietnam Farm Equipment Market Revenues & Volume By Others for the Period 2019 - 2029
• Historical Data and Forecast of Vietnam Farm Equipment Market Revenues & Volume By Equipment Type for the Period 2019 - 2029
• Historical Data and Forecast of Vietnam Farm Equipment Market Revenues & Volume By Tractors for the Period 2019 - 2029
• Historical Data and Forecast of Vietnam Farm Equipment Market Revenues & Volume By Combines for the Period 2019 - 2029
• Historical Data and Forecast of Vietnam Farm Equipment Market Revenues & Volume By Sprayers for the Period 2019 - 2029
• Historical Data and Forecast of Vietnam Farm Equipment Market Revenues & Volume By Balers for the Period 2019 - 2029
• Historical Data and Forecast of Vietnam Farm Equipment Market Revenues & Volume By Others for the Period 2019 - 2029
• Vietnam 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
• Vietnam Farm Equipment Top Companies Market Share
• Vietnam Farm Equipment Competitive Benchmarking By Technical and Operational Parameters
• Vietnam Farm Equipment Company Profiles
• Vietnam 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
•  71130 HP
• 131250 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