PRN: Agricultural Equipment Market in China - Planting, Fertilizing Equipments to see Fastest Gains through 2015
Agricultural Equipment Market in China - Planting, Fertilizing Equipments to see Fastest Gains through 2015
DALLAS, March 20, 2012 /PRNewswire/ --
ReportsnReports adds new market research report 'Agricultural Equipment inÂ ChinaÂ to 2015' to its store. Tractors are the most significant type of agricultural equipment in China, accounting for 30 % of total demand in 2010. Large, high powered tractors have greatly benefited from the Chinese government's subsidy policies and will continue to see strong growth over the forecast period. However, small tractors, because they are more affordable and practical for the average farming household, will continue to account for a greater share of demand. The high price of harvesting machinery units has largely been responsible for it having the lowest penetration rate of all agricultural equipment, though the segment will register above average growth throughÂ 2015, driven by increases in farmers' incomes. Planting and fertilizing equipment will see the fastest gains as Chinese f! armers continue to adopt a wider range of farming equipment.
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Shipments of agricultural equipment are projected to rise 12.2% annually to Â¥258 billion in 2015. China's trade surplus will expand to Â¥33 billion, primarily due to improvements in the quality and technology of domestic products, as well as low tariffs on exports.
Northeast region to exhibit most rapid demand growth
Complete report available for purchaseÂ @Â Â http://www.reportsnreports.com/reports/151971-agricultural-equipment-in-china-to-2015.html.
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