1. Indonesia Used Tractor Market is expected to grow at a CAGR of 5% by 2027F owing to Increased Digitalization and Farm Mechanization.
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With increasing digitalization and the inclusion of modern technologies, an expansion of sales and marketing through online media can be adopted by the companies which eventually helps the market grow. Increased Farm Mechanization can help sustain national food production and maintain labour efficiency.
2. Culmination of small land holdings has resulted in a surge in the overall farm holding size in Indonesia thus, giving a boost to the Used Tractors Demand from the Agriculture sector.
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The level of mechanization with respect to transplanting is low as farmers prefer to engage in manual methods of transplanting as this involves a low cost of labour. In the future, it is anticipated that the share of used tractors above 30 HP is bound to grow due to heavy mechanization. Growth in the Construction sector will support demand for used tractors in Indonesia. The future growth in real estate complemented by expected growth in the Agricultural sector is envisaged to drive the demand.
3. Indonesia Used the Tractor Market to showcase Positive Outlook over Long Term as the Government is Pushing for Mechanized Farming Systems.
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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 and also as most of the tractors are imported the prices are sensitive to falling currency rates in 2022 and 2023 making the new and used imported tractors expensive. Later on, Sales will rise as the government is keen on the mechanization of agriculture. Also, agricultural produce especially rice is rising and the country has become almost self-sufficient and is keen to export the same in the coming future.