The global rice cultivation equipment market is expected to witness a notable growth, expanding at a CAGR of 5.1% during the forecast period from 2020 to 2028. Agricultural equipment has seen an increased investment opportunity in the agricultural sector. Farming or agricultural equipment has made the life of farmers easier. Previously, farmers were accustomed spending the entire day as well as night on the farm, physically doing every task, from plowing farm to harvesting the crops. Nowadays, on the other hand, mechanization in farming has enriched the agricultural yield by increasing the proficiency of various farming activities. Growth in the income levels of farmers have boosted the demand for these equipment. Machines and tools used in rice cultivation are a combination of traditional hand tools and mechanized equipment. The application of modern rice cultivation techniques, including mechanization has been a key to improving rice production.
Rice is the most largely planted crop around the world of any irrigated crop. The demand and diverse usage of rice is increasing as it has been the most essential food for most of the countries across the globe. Over 1 billion people in the world are engaged in rice cultivation, and more than three billion people worldwide depend on rice as a major food source. As a result, rising consumption of rice is one of the major factors driving the growth of rice cultivation equipment market worldwide. Moreover, increasing demand for improved productivity and operational efficiency coupled with growing mechanization is expected to drive the rice cultivation equipment market in the years come. There has been a rise in the use of rice cultivation machinery in agriculture as it helps contributing to the increase in output due to timeliness of operations and increasing precision in input application.
Furthermore, growing research and development in the field of agricultural machineries, many machines especially rice cultivation equipment have been invented in recent years. Farmers are also well aware of such equipment and have started using them in their paddy field for their farming operations. Moreover, technological advancements in the field of agricultural with the use of GPS and telematics technologies is expected to provide lucrative opportunities to the global rice cultivation equipment market during the forecast period from 2020 to 2028.
"Rice Transplanting Equipment accounted for the Largest Market Share in 2019"
In 2019, rice transplanting equipment accounted for largest share in the global market and is likely to continue its dominance during the forecast period from 2020 to 2028. Rice transplanting equipment is particularly outlined for transplanting rice seedlings. It can plant more than one seedling at a time, thereby reducing the overall transplanting time and manpower requirement. Rice transplanting equipment works efficiently in planting paddy seeds and are helpful in improving both the quality and efficacy of rice transplanting. As a result, rising demand for the equipment due to its unique seeding feature is expected to enhance its growth in the years to come.
"Asia Pacific Garnered Largest Market Share in 2019"
The global rice cultivation equipment market, based on geography was led by Asia Pacific in 2017 and is likely to remain dominant throughout the forecast period from 2020 to 2028. The growth of this region is mainly accredited to the growing adoption of rice cultivation equipment in the countries including China, Japan, India, etc. China is amongst the leading producers of rice and is one of the largest countries across the globe that provides large areas of land for agricultural use. The growth of this region is mainly driven by China as the consumption of rice is high in the country. As a result, the need for rice cultivation equipment is high in the Asia Pacific region.
Competitive Insights
Major players in the rice cultivation equipment market include Kubota Corporation, ISEKI & CO. LTD, Yanmar Agricultural Equipment (China) Co., Ltd, CLASS KGaA mbH, Mitsubishi Mahindra Agricultural Machinery Co., Ltd., CHANGFA IMP & EXP CO., LTD, Shandong Fuerwo Agricultural Equipment Co., Ltd., Changzhou Dongfeng Agricultural Machinery Group Co., Ltd., Amisy Machinery, and Redlands Ashlyn Motors PLC among others.
Historical & Forecast Period
This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.
The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.
Research Methodology
The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Rice Cultivation Equipment market are as follows:
Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.
| ATTRIBUTE | DETAILS |
|---|---|
| Research Period | 2022-2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Year | 2022 |
| Unit | USD Million |
| Segmentation | |
Equipment
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Sales Channel
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Region Segment (2022-2032; US$ Million)
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Key questions answered in this report
