Indonesia Used Tractor Market is Expected to Reach IDR ~170,000 MN by 2026F owing to Digitalisation, Modern Technologies, and Farm Mechanization: Ken Research
GURUGRAM, India, Jan. 11, 2023 /PRNewswire/ -- Indonesia's Used Tractor Market is in the growing stage, being driven by Digitalisation and availability of modern technologies. Tractor Market in Indonesia has various players like OEM companies, market place/classifieds and finance companies.
- The used tractor market in Indonesia is expected to grow at a positive but at a slow growth rate in immediate future due to global economic conditions.
- Sales will rise as government is keen on mechanization of agriculture.
- The current agricultural farm equipment is going through a paradigm shift from cart driven to self-driven tractors.
Current Market Positioning: India expects to emerge as the 5th largest vehicles manufacturer and 3rd largest auto component market in the world by 2026F. The major Revenue contribution is from the sale of Suspension Parts.
Rising Awareness: The growing farming population and increasing awareness about buying and selling used tractors are some of the key strengths. As of 2022, there were around 40.6 Mn people who worked in the agriculture sector in Indonesia. Pre-owned tractor market has been witnessing a boom, owing to the demand for affordable tractors.
Government Regulations: Demand within Java, Sumatra and Sulawesi regions is expected to grow for used tractors and other agricultural equipments. Indonesian government plans to invest in R&D - Rice science to further improve yields on available favorable land, while expanding rice production to frontier areas, where the rice plant must withstand harsher environments.
Growing Demand of Four Wheel Tractor: Demand for four wheel tractors will continue to arise from Sumatra and Kalimantan in the future, due to the above average farm holding size in these regions. The sale of used tractor is largely unorganized and is difficult to track.
Analysts at Ken Research in their latest publication- "Indonesia Used Tractor Market Outlook to 2027- Driven By Remote Monitoring Technologies, Farm Mechanization and Dominated by Low Engine Power Tractors" by Ken Research provides a comprehensive analysis of the potential of the tractor market in Indonesia. The rising demand for Pre-owned tractors among the population, along with Government Initiatives, is expected to contribute to the market growth over the forecast period.
Key Segments Covered:-
Segmentation on basis of power
- Less Than 30 HP
- 31-60HP
- 60-100HP
- 100HP+
Segmentation on basis of purpose
- Agriculture
- Construction
Segmentation on basis of reason
- Java
- Sumatra
- Sulawesi
- Lesser sunda island
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Segmentation Basis Sale Distribution Channel
- Offline Channel
- Financial Institution/Auction
- Online Channel
Segmentation Basis Price (THB):
- Less than 70,000,000 IDR
- 70,000,001-100,000,000
- 100,000,001- 150,000,000
- 150,000,001+
Segmentation Basis Usage(hours):
- Less than 500 hours
- 501-1500
- 1501-3000
- 3001-5000+
Key Target Audience
- OEMs
- Multi-Brands
- Online Used Tractor Portals
- Used Tractor Financing Companies
- Government Bodies
- Investors & Venture Capital Firms
- Used Tractor Dealerships
- Used Tractor Manufacturing Companies
- Used Tractor Distributors
- Used Tractor Auction Houses
- Used Tractor Associations
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Time Period Captured in the Report:-
- Historical Period: 2017-2022P
- Base Year: 2022P
- Forecast Period: 2022–2027F
Companies Covered:-
OEM Companies
- New Holland
- Traktor Nusantara
- Yanmar
- John Deere
- Kubota
- Cnh Industrial
Market Place/ Classifieds
- Jualo.Com
- Tokopedia
- Olx Bri
- Alibaba.Com
- Shopee
Finance Companies
- BAF
- Mandiri
- JTO Finance
- Adira Finance
Key Topics Covered in the Report:-
- Indonesia Used Tractor Market Overview
- Indonesia Agricultural Market Overview
- Indonesia Used Tractor Market
- Market Ecosystem
- Market share of Major Used Tractor Companies, 2022P
- Value chain Analysis
- Detailed Analysis on Indonesia Used Tractor Market
- Market Segmentations; Competition; Future Market Size, 2027)
- Future Trends and the Way Forward
- Snapshot on Climate Change and its impact
- Snapshot on second hand agricultural vehicles
- Snapshot on staple crop of Indonesia
- Future Market Size of Indonesia
- Future Segmentation for Indonesia Used Tractor Market,2027F
- On- Demand Tractor Services
- Analyst Recommendations
For more insights on the market intelligence, refer to the link below:-
Related Reports by Ken Research:-
Philippines Used Tractor market is expected to increase at a double digit CAGR during the period 2021 – 2027F in terms of sales volume, owing to new government policies, rise in disposable income in the country. The market is expected to grow owing to the inclination of population towards lower prices and growing agricultural productivity.
Thailand Used Tractor market has showcased subdued growth over the past few years supported by growth in agriculture production, surge in average farm size and demand increase for 35-50HP used tractors. The Thailand Used Tractor market is a moderately concentrated market with John Deere, New Holland, Yanmar, Siam Kubota, Iseki as the market leaders owing to the high market share on the basis of number of used tractors sold. Due to the increased use of online channels during the COVID, the prominence of offline channels as a method of distribution of used tractors decreased. A major part of the sales distribution occurs through financial institutions or auctions. In case of default, the financial institution repossesses the machinery and auction it, to recover the investment.
Indian Used Agricultural Equipment market grew at a CAGR of ~16.5 % by volume, and ~19.1% by transaction value, during FY'16-FY'21. Used tractors dominated the Used Agricultural Equipment in India, by volume sold, in FY'21 followed by used tractor-attachable equipment (sprayer, rotavator, cultivator, ploughs, drills, harrow, etc.), used power tillers and used harvesters. The market was also observed to be highly fragmented and dominated by the unorganized dealers. Apart from that, peer to peer sales are also quite frequent in India. Ambitious government initiatives, rising adoption of mechanization in India, paired with economic feasibility of purchasing second hand equipment has led to the growth of Used Agricultural Equipment market in India.
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Ken Research Private Limited
Ankur Gupta, Director Strategy and Growth
Ankur@kenresearch.com
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