Growing Green: Indonesia Government initiatives give an edge to the Agriculture Equipment Market to grow in Indonesia: Ken Research
Agriculture has been the backbone of Indonesia’s economy and agriculture equipment is one of the important aspects of the farming industry. The agriculture equipment sector is growing at a CAGR of ~9 between 2014 and 2020, as per the Ken Research report. However, the market was impacted by the global pandemic.
Here is a glimpse of the Indonesian agriculture industry and a deep insight into the country’s government schemes to promote the growth of the sector.
1) With ~57 Mn Ha of Agricultural Lands, farming has long been the backbone of Indonesia’s economy
2) Among APEC member economies, Indonesia has relatively high Contribution of Agriculture to its GDP
3) The digital disruption in the agriculture equipment market is opening new opportunities in the country
4) However, the pandemic Impacted the growth of the Indonesia Agriculture Equipment industry; Supply Chain and Farm Operations Disruption were the major impacts of Covid-19
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5) The market soon picked up pace owing to the Rising Population and Government push for Mechanization in the country
6) Government Initiatives, Support Schemes, and After-Sales Support Policies to Drive Market Value and Volume of the Indonesia Agriculture Equipment Market in the Future
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