Demand for agricultural equipment in China is projected to grow 6.8 percent annually through 2012. Gains will be driven by ongoing farm mechanization efforts as rural incomes rise and labor is lost to urban migration. Tractors and harvesting machines will remain key segments while parts and attachments grow the fastest.
This study analyzes the 85 billion yuan agricultural equipment industry in China. It presents historical demand data for the years 1997, 2002 and 2007, and forecasts for 2012 and 2017 by product (e.g., farm tractors, harvesting machinery, plowing and cultivating machinery, planting and fertilizing machinery) and regional market (e.g., Central-North, Northeast, Central-East).
The study also considers market environment factors, details industry structure, evaluates company market share and profiles 35 industry participants, including Foton Lovol International Heavy Industries, YTO Group and Deere.