Rising farm mechanization and labor shortage, set the path for The Vietnam Agricultural Machinery Market to register a CAGR of more than 10% during the forecast period 2021-2025,as per findings released by Ken Research.
1. The Rate of Mechanization of Agricultural Land Preparation Reached 94%, 42% Of Sowing and Planting Stages, and Care Reached 77% in Vietnam.
The mechanization level is increasing rapidly in Vietnam to improve the quality of grown crops. The amount of mechanization in agriculture is rising in the pre- and post-harvest stages, according to the Ministry of Agriculture and Rural Development in 2020. In particular, the rate of mechanization for preparing agricultural land for planting reached almost 95%, for maintaining sowing and planting at 40% it reached over 75%, and for harvesting rice at more than 65%.
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2. Renting an Agricultural Machinery (Combine Harvester) is Approximately 3 Times Cheaper than Hiring Labor for over a Hectare of Produce.
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Vietnam is experiencing a severe labor shortage in the agricultural sector as more people go into the construction and other industries in search of better paying jobs. This has significantly influenced the rising usage of equipment in a variety of procedures. The Red River Delta, the North Central and Central Coastal Areas, the Mekong River Delta, and the South East are the four primary regions experiencing this change in occupational structure from agriculture to other industries. Since machines can do humans’ tasks, a lack of seasonal farm labor is a primary impetus for the use of automation in agriculture. Mechanizing operations results in time and cost savings, thus making farming activity more profitable.
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Vietnam Agricultural Machinery Market
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