South Africa Agriculture Equipment Market is Expected to Reach Over USD 600 Million by the End of the Year 2025: Ken Research

South Africa Agriculture Equipment Market is Expected to Reach Over USD 600 Million by the End of the Year 2025: Ken Research

PR Newswire

GURUGRAM, India, March 7, 2019

GURUGRAM, India, March 7, 2019 /PRNewswire/ -- South Africa News

Growth in South Africa's agricultural equipment industry revenue in future shall be facilitated by growth in population, higher demand for agricultural produce and rise in farm area under crop production. Countries such as South Africa are expected to cater to a large proportion of the growing population due to the expandable arable land available the country. Some of South Africa's most produced crops include sugarcane, corn and soybeans which will continue to expand the agricultural market. The cost and quantity of soy and maize produced are expected to rise in the coming years thereby increasing the demand for tractors and its implements used for its production. The market is likely to be driven by rise in demand for multifunctional machinery. Manufacturers are expected to tie up with finance companies and provide efficient credit and repayment schemes in order to further stimulate demand of equipments in the future. Agricultural Robots are likely to perforate the Agricultural Market in the upcoming 5 years.

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The South African government has supported large and medium scale farmers to a considerable extent thus elevating the agricultural machinery market over the last five years. This is expected to improve further in the future. To increase the overall demand for agriculture and thus agricultural machinery, the government has extended support through financial institutions like Development Financial Institutions (DFI) to the black producers. This is an incentive to provide access for small, medium and large scale black producers in the sector. South Africa is likely to experience an increase in the research funding and thereby the research conducted in agriculture in order to pave the way for a successful and rapid uptake of digital technology in farming. The economy will promote research funding in the most promising technology areas, notably automation, robotization, and digital connectivity.

Ken Research in its latest study "South Africa Agricultural Equipment Market Outlook to 2025 - By Product Type (Tractors, Tillage Equipment, Planters & Seeders, Sprayers, Combine Harvesters, Precision Farming and Others); By Domestic Sales and Import; By Region (Free State, Mpumalanga, Kwa Zulu Natal and others" suggests that the growth key is in the hands of the South African government to unlock financial barriers restraining the industry. This would lead the market to grow registering a CAGR close to 2% during the year 2018-2025.

Key Segments Covered

Key Target Audience

Time Period Captured in the Report:

Companies Covered: Bell Equipment, Falcon Equipment, Radium Engineering, GC Tillage, AGRICO, Agri Supplies, AGRICON, Bestbier, Big Dutchman, BPI Manufacturing, Cape Agricultural Products, Enorossi, Gomselmash, Green Zone, Hose Manufacturer's (PTY) Limited, Monosem, Jinma Tractors South Africa, John Deere, New Holland, Landini, Massey Ferguson, Case IH, CLAAS, Valtra, Mahindra & Mahindra Limited, Valmont Industries Incorporated, World Group Company Limited, JCB Limited, Kuhn Group, Netafim Limited, Yanmar Company Limited, Agco Corporation, Agro Master, CNH Industrial and Morris Industries Limited, BHBW, Northmec, ARGO Industrial, DICLA, NHSA Agriculture Parts, Orchard Agrimek, Rebelo Agricultural Group, Southtrade, Vermeer equipment Sales, Mascor, BEPCO, DICKEY-John Corporation and Jupidex, New Holland, John Deere, Massey Ferguson, Case IH and CLAAS

For more information on the market research report please refer to the link below:

https://www.kenresearch.com/agriculture-and-animal-care/agriculture-equipment/south-africa-agricultural-equipment-market/142610-104.html

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