Government Initiatives for Modernizing the Agriculture Process and Ease of Financing will boost the Growth in the Myanmar Agriculture Equipments Market: Ken Research

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Key Findings

Power tillers, tractors and threshers are the most common equipment’s 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 Tractor

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:-

Executive Summary

Country Overview

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

For More Information on the Research Report, refer to below links: –

Myanmar Agriculture Machinery Market

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US Tractor and Combine Harvesters Market Outlook to 2024 – By Tractor Type (2WD and 4WD), By Tractor HP (<40 HP, 40-100 HP and >100 HP) and By Combine Harvester HP (Upto 250 HP, 250-350 HP and Above 350 HP)

Philippines Agricultural Equipment Market Outlook to 2023- By Product Type (Tractors, Combine Harvesters, Planters, Seeders and Tillage Equipments and Tillage Equipment), By Tractor Segment (Upto 60 Hp, Between 61-130 Hp and above 130 Hp), By Production (Imported and Domestically Manufactured) and By Region (Luzon, Visayas and Mindanao)

Contact Us:-

Ken Research

Ankur Gupta, Head Marketing & Communications

support@kenresearch.com

+91-9015378249

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