Report Overview

Japan Agricultural Machinery Market – Industry Trends & Forecast Report, 2029

Japan agricultural machinery market size is projected to grow at a CAGR of 3.69% during the forecast period between 2023 and 2029. Major factors driving the growth of Japan agricultural machinery market include the increasing demand for advanced and automated farming equipment, technological advancements in agricultural machinery, and government initiatives promoting agricultural modernization. Also, the aging farming population in Japan has led to a need for labor-saving machinery, while the focus on sustainable farming practices has created a demand for environmentally friendly and energy-efficient agricultural equipment. The adoption of precision agriculture techniques and the integration of Internet of Things (IoT) technology in farming equipment has also propelled the growth of Japan agricultural machinery market.

Japan Agricultural Machinery Market - Overview

Agricultural machinery refers to a wide range of equipment used in farming and agriculture to improve efficiency and productivity. It includes tractors, harvesters, plows, irrigation systems, and more. These machines aid in various tasks such as planting, cultivating, harvesting, and processing crops, revolutionizing modern agricultural practices.

Growth Drivers

Adoption of Technological Advancements

In recent years, technological advancements have emerged as a significant growth driver for the Japan agricultural machinery market. The integration of innovative technologies, such as precision farming, IoT (Internet of Things), and automation, has revolutionized the agricultural sector in Japan. These advancements have enabled farmers to enhance productivity, reduce labor costs, and optimize resource utilization. The adoption of advanced machinery equipped with GPS, sensors, and data analytics has facilitated precise seeding, irrigation, and harvesting techniques. Also, the increasing focus on sustainable farming practices and the need to address labor shortages have further accelerated the demand for advanced agricultural machinery in Japan. Thus, the Japan agricultural machinery market is recording growth, driven by technological innovations and their transformative impact on the farming industry.

Restraints

Changing Dynamics

In recent years, the Japan agricultural machinery market has encountered notable restraints, challenging its growth trajectory. One prominent factor is the aging farming population, which poses a significant hurdle to the industry's advancement. With fewer young individuals opting for careers in agriculture, the demand for machinery remains stagnant, impacting market expansion. Also, limited land availability restricts the scope of large-scale farming operations, limiting the need for advanced machinery. Also, stringent regulations regarding environmental sustainability and noise pollution pose challenges, requiring manufacturers to invest in innovative and eco-friendly solutions. These restraints demand strategic initiatives to address the evolving dynamics and ensure sustainable growth in Japan's agricultural machinery market.

Impact of COVID-19 on Japan Agricultural Machinery Market

The COVID-19 pandemic significantly impacted Japan agricultural machinery market. The sector experienced disruptions due to supply chain disruptions, labor shortages, and reduced consumer demand. Lockdown measures and restrictions affected the production and distribution of agricultural machinery, leading to delays in deliveries and increased costs. Farmers faced challenges in accessing machinery, impacting their productivity and overall agricultural output. However, post pandemic, the market is witnessing a slow recovery with the easing of restrictions. The industry is also adapting to the new normal by adopting digital technologies and exploring innovative solutions to meet the evolving needs of the agricultural sector in Japan.

Japan Agricultural Machinery Market

Segmental Coverage

Japan Agricultural Machinery Market – By Type

On the basis of type, Japan agricultural machinery market is divided into Tractors, Harvesters, Soil Preparation & Cultivation, Irrigation & Crop Processing, Agriculture Spraying Equipment, and Hay & Forage Machines. Among the segments of the Japan agricultural machinery market, the tractors segment holds the highest market share. Tractors are widely used in various agricultural activities, such as plowing, tilling, and transportation of goods on farms. They play a crucial role in mechanizing farm operations and increasing productivity. Harvesters, which are used for harvesting crops, come next in terms of market size. Soil preparation and cultivation equipment, essential for land preparation and seeding, follow closely. Irrigation & crop processing machinery, used for efficient water management and processing of harvested crops, are also significant segments. Agriculture spraying equipment and hay & forage machines contribute to the overall market growth, but their market sizes are comparatively small.

Japan Agricultural Machinery Market – By Automation

By automation, Japan agricultural machinery market is divided into Automatic, Semi-automatic, and Manual segments. Automatic machinery, characterized by its advanced technology and mechanization, emerges as the largest segment in the Japanese agricultural machinery market. With its efficient and automated features, automatic machinery streamlines farming processes, improves productivity, and reduces labor requirements. The dominance of this segment is reflected in the growing demand for innovative and time-saving solutions in the agricultural sector. Thus, manufacturers and suppliers in Japan are actively focusing on developing and expanding their range of automatic agricultural machinery to meet the evolving needs of farmers and enhance overall agricultural practices.

Japan Agricultural Machinery Market – By End User

Based on end user, Japan agricultural machinery market is divided into Original Equipment Manufacturers (OEMs) and Aftersales segments. The OEMs segment holds a higher market share. OEMs are primarily responsible for designing, producing, and selling new agricultural machinery and equipment. They play a crucial role in shaping the industry by introducing innovative technologies and advanced features. OEMs cater to the growing demand for efficient and high-performance agricultural machinery in Japan. On the other hand, the aftersales segment focuses on providing maintenance, repair, and spare parts services for existing agricultural machinery. While aftersales support is essential for ensuring the longevity and functionality of equipment, the OEMs segment holds greater significance in terms of market size and influence in the Japan agricultural machinery industry.

Competitive Landscape

Major players in Japan agricultural machinery market include Kubota Corporation, Yanmar, Iseki & Co. Ltd, Hinomoto, Mitsubishi Heavy Industries, Kubota Farm Machinery, Toyotrac, Yanmar America, Shibaura Machinery, and Kubota Tractor Corporation. To grow their market share, these companies are also focusing on investing in innovations, collaborations, and expansions.

Recent Developments

• In October 2022 - Kubota Company opened the Global Institute of Technology in Osaka, Japan, to increase R&D for new product developments per the region's business landscape and needs.

• In January 2022 - John Deere, an American corporation manufacturing agricultural machinery, launched a fully autonomous tractor at CES 2022 that is used for large-scale production. The machine combines Deere's 8R tractor, TruSet-enabled chisel plow, GPS guidance system, and new advanced technologies, which will be available to the farmers in the coming year.

• In November 2021 - John Deere upgraded its 6R Tractor lineup and added the new 6R140 and 6R165 models. With power bulge and Intelligent Power Management, the 6R 140 and 6R 165 Tractors deliver up to 166 and 212 maximum horsepower in harsh conditions, such as heavy transport, PTO, or hydraulic applications.

Scope of the Report

By Type

• Tractors

• Harvesters

• Soil preparation and Cultivation

• Irrigation and crop processing

• Agriculture spraying equipment

• Hay and forage machines

By Automation

• Automatic

• Semi-automatic

• Manual

By End User

• Original Equipment Manufacturers (OEMs)

• Aftersales

1. Research Framework
   1. Research Objective
   2. Product Overview
   3. Market Segmentation
2. Executive Summary
3. Japan Agricultural Machinery Market Insights
   1. Industry Value Chain Analysis
   2. DROC Analysis
      1. Growth Drivers
         1. Government support and subsidies to promote the adoption of advanced agricultural machinery
         2. Growing demand for high-quality produce
      2. Restraints
         1. High initial costs pose a barrier for small-scale farmers
         2. Fragmented land ownership
      3. Opportunities
         1. Adoption of smart farming technologies
         2. Sustainable agriculture practices
      4. Challenges
         1. Limited farm consolidation
         2. Regulatory compliance
   3. Technology Advancements/Recent Developments
   4. Regulatory Framework
   5. Porter’s Five Forces Analysis
      1. Bargaining Power of Suppliers
      2. Bargaining Power of Buyers
      3. Threat of New Entrants
      4. Threat of Substitutes
      5. Intensity of Rivalry
4. Japan Agricultural Machinery Market Overview
   1. Market Size & Forecast, 2019–2029
      1. By Value (USD Million)
   2. Market Share & Forecast
      1. By Type
         1. Tractors
         2. Harvesters
         3. Soil Preparation & Cultivation
         4. Irrigation & Crop Processing
         5. Agriculture Spraying Equipment
         6. Hay & Forage Machines
         7. Others
      2. By Automation
         1. Automatic
         2. Semi-automatic
         3. Manual
      3. By End Users
         1. Original Equipment Manufacturers (OEMs)
         2. Aftersales
5. Competitive Landscape
   1. List of Key Players and Their Offerings
   2. Japan Agricultural Machinery Company Market Share Analysis, 2022
   3. Competitive Benchmarking, By Operating Parameters
   4. Key Strategic Developments (Mergers, Acquisitions, Partnerships, etc.)
6. Impact of Covid–19 on Japan Agricultural Machinery Market
7. Company Profile (Company Overview, Financial Matrix, Competitive Landscape, Key Personnel, Key Competitors, Contact Address, Strategic Outlook, SWOT Analysis)
   1. Kubota Corporation
   2. Yanmar
   3. Iseki & Co. Ltd
   4. Hinomoto
   5. Mitsubishi Heavy Industries
   6. Kubota Farm Machinery
   7. Toyotrac
   8. Yanmar America
   9. Shibaura Machinery
   10. Kubota Tractor Corporation
   11. Other Prominent Players
8. Key Strategic Recommendations
9. Research Methodology
   1. Qualitative Research
      1. Primary & Secondary Research
   2. Quantitative Research
   3.  Market Breakdown & Data Triangulation
      1.  Secondary Research
      2.  Primary Research
   4.  Breakdown of Primary Research Respondents, By Region
   5.  Assumptions & Limitations

*Financial information of non–listed companies can be provided as per availability.

**The segmentation and the companies are subject to modifications based on in–depth secondary research for the final deliverable.

List of Figures

Figure 1       Japan Agricultural Machinery Segmentation  

Figure 2       Japan Agricultural Machinery Market Value Chain Analysis

Figure 3       Company Market Share Analysis, 2022

Figure 4       Japan Agricultural Machinery Market Size, By Value (USD Million), 2019–2029

Figure 5       Japan Agricultural Machinery Market Share, By Type, By Value, 2019–2029  

Figure 6       Japan Agricultural Machinery Market Share, By Automation, By Value, 2019–2029         

Figure 7       Japan Agricultural Machinery Market Share, By End User, By Value, 2019–2029         

List of Tables

Table 1        Japan Agricultural Machinery Market Size, By Value (USD Million), 2019–2029

Table 2        Japan Agricultural Machinery Market Size, By Type, By Value, 2019–2029

Table 3        Japan Agricultural Machinery Market Size, By Automation, By Value, 2019–2029

Table 4        Japan Agricultural Machinery Market Size, By End Users, By Value, 2019–2029

Table 5        Kubota Corporation Company Overview

Table 6        Kubota Corporation Financial Overview

Table 7        Yanmar Company Overview

Table 8        Yanmar Financial Overview

Table 9        Iseki & Co. Ltd. Company Overview

Table 10      Iseki & Co. Ltd. Financial Overview

Table 11      Hinomoto Company Overview

Table 12      Hinomoto Financial Overview

Table 13      Mitsubishi Heavy Industries Company Overview

Table 14      Mitsubishi Heavy Industries Financial Overview

Table 15      Kubota Farm Machinery Company Overview

Table 16      Kubota Farm Machinery Financial Overview

Table 17      Toyotrac Company Overview

Table 18      Toyotrac Financial Overview

Table 19      Yanmar America Company Overview

Table 20      Yanmar America Financial Overview

Table 21      Shibaura Machinery Company Overview

Table 22      Shibaura Machinery Financial Overview

Table 23      Kubota Tractor Corporation Company Overview

Table 24      Kubota Tractor Corporation Financial Overview

Table 25      Other Prominent Players Company Overview

Table 26      Other Prominent Players Financial Overview