China Agriculture Equipment Market By Segments, Companies, Forecast By 2026

ROSWELL, Ga. - April 23, 2021 - PRLog -- China is amongst the largest manufacturers of farming equipment and the largest market for agricultural equipment globally. Most of the farming equipment industries are mainly concentrated in Shandong, Henan, Jiangsu, Liaoning, and Zhejiang provinces. To maintain sound crop production and progressive development of the agriculture sector, the adoption of agriculture farm equipment has increased in China. It contributes to the China Agriculture Equipment Market's proper growth. As per research findings, China Agriculture Equipment Market was valued at US$ 27.8 Billion in 2020.

China Agriculture Equipment Market is anticipated to register significant growth projections during the forecast period backed by increasing government investments in developing the agriculture sector in China coupled with decent rebates and incentives initiated by the Chinese government for easy procurement of farm equipment. As per this report, the Agriculture Equipment Market Size in China will grow with a CAGR of 7.75% from 2020-2026.

Although the agricultural equipment industry in China is based on evolving technology, the lack of human capital and the necessary infrastructure to develop sophisticated farming machines that can compete with foreign products are some of the major factors restraining its growth. Due to this, China relies heavily on imports for high-tech farming equipment. According to Renub Research new report, China Agriculture Equipment Market Opportunity will be US$ 43.5 Billion by 2026.

The demand for the large and medium tractor in China is quite huge, and its sales are increasing rapidly. Small tractors is the most extensive selling agriculture equipment as it's more affordable and used by an average farmer across China. Furthermore, the small tractor's demand is increasing because of the improving per capita income of the farmer in the country. The harvesting machine in the report has been categorized into a single harvesting machine that performs a single task and a combine/multipurpose harvesting machine that can perform harvesting of multiple crops. Further, the combine harvester has been categorized into three parts; rice combine harvester, wheat combine harvester and other combine harvesters

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Follow the link for the full report with detailed TOC and list of figures and tables: https://www.renub.com/china-agricultural-equipment-market...