Agriculture Machinery Market in Myanmar, Financing for Agriculture Equipment in Myanmar, Agriculture Machinery Market Revenue: Ken Research

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: -
https://www.kenresearch.com/agriculture-and-animal-care/agriculture-equipment/myanmar-agriculture-machinery-market-outlook-to-2025/427146-104.html

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Ken Research
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