The revenues from the overall agriculture equipments market increased from USD ~ million in 2010 to USD ~ million in 2015, accounting for a CAGR of ~% during the same period. The contribution by the tractor market to the overall market stood at ~% in 2015. Harvesters and Rice Transplanters contributed ~% and ~% respectively, to the overall revenues of the agriculture equipment market. In addition to this, the tractor implements market contributed approximately ~ % to the overall agriculture equipment market.
The revenue from the tractor market in Vietnam increased from USD ~ million in 2010 to USD ~ million in 2015, achieving a CAGR of ~% during the same period. The market revenue for Rice Transplanters increased from USD ~ million in 2010 to USD ~ million in 2015, accounting for a CAGR of ~% from 2010-2015. The market revenue from combine harvesters increased from USD ~ million in 2010 to USD ~ million in 2015, accounting for a CAGR of ~% during the same period. The revenues from the tractor implement market augmented from USD ~ million in 2010 to USD ~ million in 2015, accounting for a CAGR of ~% during the same period.
“According to Research Analyst at Ken Research- A numbers of leading players in the market are importing products from other Asian countries such as China and Japan as import tariff has been reduced to 0%. These players should focus on manufacturing the products locally as the scenario of domestic manufacturing of agricultural machinery is poor in Vietnam. Additionally, since imports are not controlled, it leads to unfair competition between the domestic and foreign manufacturers. The government should provide more support to local manufacturers in order to enhance domestic production of agricultural machinery in the country.
The report titled “Vietnam Agricultural Machinery Market Outlook to FY’2016” provides an inclusive analysis of the Agricultural Equipment Market in Vietnam. This report will help a reader to identify the ongoing trends in the industry and anticipated growth in future depending upon changing industry dynamics in coming years. The report will help industry consultants, agricultural equipment manufacturers, dealers, retail chains, potential entrants and other stakeholders to align their market centric strategies according to ongoing and expected trends in the future.
More details visit : https://www.kenresearch.com/agriculture-and-animal-care/agriculture-equipment/vietnam-farm-equipment-implements-market/27110-104.html