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The rice planting machine market is expected to grow at a CAGR of 5.14%, reaching a market size of US$2.546 billion in 2029 from US$1.982 billion in 2024.
Rice planting machines, also known as rice transplanters, are machinery equipment that is used for sowing seeds of rice onto paddy fields. There exists a variety of components in the rice transplanter machinery, which include a mover, transmission, engine, seedling tray, lunged wheels, seedling tray shifter, pick-up tool (also known as a pickup fork), and many others. There exist mainly two types of rice transplanters, which include the riding transplanters, which run through an electric motor and can transplant up to eight lines at once, and the walking transplanters, which work manually and pass up to four seedlings in one go.
Introduction:
The global rice planting machine market is expected to witness significant growth during the forecasted period of 2024-2029, due to the factor increase in rice production, which can be linked to the increasing growth of the global population, further increasing the demand for food supply due to increase in food insecurity. Rice planting machinery provides a wide range of benefits and helps increase the efficiency and productivity of agriculture.
Market Drivers:
Increasing rice production: One of the major growth drivers of the rice planting machine market is the increase in rice production worldwide. The increase in rice production can also be linked to the increase in the global population, which further increases the demand for food worldwide. As the total population increases, global food insecurity is also expected to increase. The Food and Agriculture Organization had forecasted global cereal production as of 08 December 2023. The forecast for the world cereal production accounted for a rise of 3.6 million tonnes in December, due to improved aspects of wheat and coarse grains. The total cereal outturn accounted for an estimated 2,823 million tonnes and is expected to show an increase of up to 0.9%, which is 25.9 million tonnes per year and 10.4 million tonnes higher than the previous record reached in 2021. The global rice production had displayed an increase from 518 million tonnes in 2020-21 to reach an expected estimate of 524.9 million tonnes in December 2023. This increase in rice production can be linked to the advancement of technology in the agriculture sector, with sustainable and efficient agricultural machinery being developed as time passes. The rise in rice planting machinery will see growth in demand with the increase in rice production, which is due to an increase in the global food demand. This further increases the need for machinery to increase yield and efficiency in agriculture. Therefore, the increase in global rice production is expected to increase the rice planting machine market growth during the forecasted period.
Key Players:
Regional Analysis:
The Asia Pacific region is expected to witness significant growth in the rice planting machine market during the forecasted period of 2024-2029. China and India are the leading producers of rice in the Asia-Pacific region. The increase in the production of rice can be linked to the high population density in the region, with China and India being the top contributors. The increase in rice production can also be linked to the reduction of food insecurity from the increase in population as well. The National Bureau of Statistics of China sampled the total rice production in their country as of August 23, 2023, and estimated a total output of 28,337 thousand tons (56.67 billion Jin) of early rice, which was an increase from 215 thousand tons (430 million Jin) in 2022. Their yield per unit area also displayed an increase from 72.7 kg/ha (4.8 kg/mu) in 2022 to 5,987.0 kg/ha (399.1 kg/mu) in 2023. India is also one of the largest rice producers in the world. As per the Ministry of Agriculture & Farmers Welfare in India, the total food grain production in India accounted for 3,296.87 lakh tonnes, which is an increase of 140.71 lakh tonnes to the production of foodgrains of 3,156.16 lakh tonnes in 2021-22. The total rice production accounted for 1,357.55 lakh tonnes in 2022-23, which is an increase of 62.84 lakh tonnes from the previous year’s 1,294.71 lakh tonnes and an increase of 153.65 lakh tonnes from the previous five year’s average of 1,203.90 lakh tonnes. The increase in yield and production can be linked to the increase in the development of automation and machinery, leading to more enhanced productivity and efficiency in agriculture and increased production of crops. This will, therefore, provide the necessary fuel for the regional rice planting machine market growth during the forecasted period.
Market Developments:
Segmentation: