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China's Agricultural Machinery Industry Driven by Agricultural Mechanization

Date:08-01-2014

In recent years, China’s agricultural machinery industry has developed at a rapid rate. Some of the main factors that have contributed to the growth in the agricultural machinery industry are the growth in agriculture and subsidy policy by the Chinese government in agricultural machinery. In 2012, the total power of China’s agricultural machinery was more than 1 billion kilowatts and the gross output value in the same year exceeded 300 billion yuan. Mechanized harvesting of food crops and technological advancement and innovation in agricultural machinery are the main factors that are fueling the growth in the industry. The growth of high-performance and high-power compound machines has been truly phenomenal in China.

Market Overview
In China, traditionally mechanical harvesting was used in crop production. However, the scene has changed now and the integrated mechanization level of agricultural crops is more than 50% in the country. In China, harvesting machinery and tractors are the most essential and important agricultural machinery products. In 2012, the annual output of harvesting machinery was 1.114 million units and the annual output of tractors was 2.25 million units. This figure was far higher than any other country in the world. In recent years, the demand for large and medium-sized tractors has grown steadily while the demand for small tractors has declined.

Agricultural mechanization in China has helped in the steady growth in the country’s agricultural machinery market. The three major crops in China are rice, wheat and corn. While mechanized harvesting of wheat has been successfully implemented, the mechanized harvesting of corn and sowing of rice had been lagging behind. However, with increased investment and subsidies by the government in agricultural machinery, the mechanization of corn harvesting and rice transplanting is expected to increase in the future.

Both domestic and international companies are present in China’s agricultural machinery industry. Some of the key companies in the agricultural machinery market in China are Dongfeng Agricultural Machinery Group Co. Ltd., Shandong Juming Group, YTO Group Corporation, Chery Heavy Industries Co. Ltd., Foton Lovol International Heavy Industry Co. Ltd., Luoyang Zhongshou Machinery and Equipment Co. Ltd. and Shifeng Group. Foreign agricultural machinery companies such as CNH Global N.V., CLAAS Group, John Deere and AGCO has also set up production bases in China. Dongfeng Agricultural Machinery Group Co. Ltd., YTO Group Corporation and Foton Lovol International Heavy Industry Co. Ltd. are the leaders in manufacturing tractors while Luoyang Zhongshou Machinery and Equipment Co. Ltd. and Shandong Juming Group are the leaders in manufacturing harvesters. With increased mechanization of harvesting and sowing and advancement in technologies, China’s agricultural machinery industry is expected to flourish.

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