- Growing mechanization is expected to drive the rice cultivation equipment market.
- Based on equipment type, the market was dominated by the rice transplanting equipment segment.
- Asia Pacific led the rice cultivation equipment market regionally.
According to a new market report published by Credence Research, Inc., “Global Rice Cultivation Equipment Market (By Product Type (Rice Transplanting Equipment, Rice Harvesting Equipment, Rice Threshing Equipment, and Rice Milling Equipment), By Sales Channel (Online and Direct Retail) – Growth, Future Prospects and Competitive Landscape, 2018 – 2026”, the global rice cultivation equipment market is expected to witness a growth of 5.2% CAGR during the forecast period from 2018 to 2026.
The global rice cultivation equipment market is likely to witness a steady growth, growing at a CAGR of 5.2% during the forecast period from 2018 to 2026. Increased consumption of rice is one of the most important factors driving the growth of rice cultivation equipment market worldwide. Larger part of the population across the globe is reliant on rice as their staple food and as a result it is critical to enrich the agricultural methods to yield the production of the same.
Rice cultivation is a complex activity that involves a series of procedures to achieve the finished and final product. Consequently, increasing demand for improved productivity and operational efficiency coupled with growing mechanization is expected to drive the rice cultivation equipment market in the years to come.
The global rice cultivation equipment market, based on equipment type was dominated by the rice transplanting equipment segment in 2017. Rice transplanting equipment works efficiently in planting paddy seeds and is helpful in improving both the quality and efficacy of rice transplanting process. The growth of this segment is mainly accredited to its growing demand for this equipment worldwide. Further, based on geography, Asia Pacific led the rice cultivation equipment market in 2017.
The growth of this region is due to the growing adoption of rice cultivation equipment in the countries such as China, Japan, India, etc. Rice is a staple food for several countries in the Asia Pacific region and therefore the demand for rice cultivation equipment is high in this region. The growth is mainly driven by China as the consumption of rice is high in the country and also it is amongst the leading producers of rice in the region.
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. The presence of several big players has made the market competitive in nature.
The manufacturers are focused on adopting advanced technological methods for manufacturing the equipment. Moreover, several strategies such as new product developments, partnerships are adopted to thrive in the competitive environment and gain an edge over others. Players are progressively focusing on distinguishing their product offerings through unique and clear value propositions to succeed, survive and endure with their counterparts.