TechNavio recognizes the following companies as the key players in the Agricultural Machinery Market in China: Deere and Company, Foton Lovol International Heavy Industry Co. Ltd., and YTO Group Corp.
Commenting on the report, an analyst from TechNavio’s team said: “One of the major trends in the Agricultural Machinery market in China is the emergence of new technologies. New and improved mechanization helps provide uniformity in conducting various agricultural processes, and also increases the speed and accuracy of mechanization making it an attractive preference over the manual method. For instance, enhanced mechanization provides a swift way of sowing, seeding, and spraying of fertilizers for healthy crop growth. Moreover, modern tractors are equipped with features such as modern sensors and GPS that aid the farmers in increasing the productivity. These are some of the major trends in farm machineries which are expected to affect the market positively and boost the demand for agricultural machineries.”
According to the report, one of the major drivers in the Agriculture Machinery market in China is the increasing need for food productivity, and with the growing population the demand for food is also rising. However, the arable area has not grown with the increasing demand for food.
Further, the report states that the volatility in the price of raw materials poses a serious threat to the vendors and acts as a major challenge to the Agricultural Machinery market in China. Over the past few years, major raw materials used in the manufacture of agricultural machinery such as steel, rubber, and iron have undergone an increase in price.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors. For further information on this report, please visit https://www.technavio.com/report/agricultural-machinery-market-in-china-2…
TechNavio, the market research platform of Infiniti Research Ltd., publishes periodic market research reports on niche and emerging technologies. For more information on our market research, please visit https://www.technavio.com/engineering-and-automation
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