Thursday, April 9th, 2020

Surging Market Penetration in Power Tiller Market and Rising Dealer Network will Boost Agri Machines Sales of VEAM Corporation: Ken Research

Vietnam-Engine-and-AgricultINVC NEWS New Delhi,
Ken Research announced its latest publication on “Vietnam Engine and Agricultural Machinery Corporation Company Analysis – Gaining Market Penetration in Power Tillers Market” provides a comprehensive analysis regarding the performance of the company and its agricultural machinery products in Vietnam. The report covers aspects such as the market size on the basis of revenue generated from the sale of agricultural equipments under various product categories. The revenues of the company has been segmented based on various product categories including two wheel tractors/ power tillers, four wheel tractors, combine harvesters and rice transplanters.. The revenues of the company have also been segmented on the basis of regional sales and distribution channel. The publication also covers the working model, best sellers of VEAM corporation products. In addition to this, a comparative analysis of best selling VEAM Corporation products in power tillers, four wheel tractors, rice transplanters, and others with other Agri machine companies has been showcased in order to understand the market share. The financial performance of the company along with the expected future performance of the company has also been showcased in the report. This report will help industry consultants, agri machines manufacturers, dealers, potential entrants into the agri machines segment and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.VEAM has the largest and the most diverse network of dealers in Vietnam. VEAM has deployed around 300 dealers all across Vietnam. VEAM with almost equal focus on all the three regions (south, north and central). VEAM is using a large dealer network with equal presence in all the three regions to increase its share in the market. Over 60% of farming machinery being used within the Vietnamese domestic marketplace was from China in 2012, largely because of the possible lack of Government financial support to local producers. Market for agricultural machinery in Vietnam has enhanced by a CAGR of 6.8% over the period 2010-2015. Amplifying sales of tractors along with implements, combine harvesters and rice transplanters have propelled the market for agricultural machinery in Vietnam over the period 2010-2015. VEAM has a stronghold in two wheel tractor category. It sells powerful two wheel Iseki tractors from 16 HP to 26 HP. “According to Research Analyst at Ken Research, “the company is focused on the market by developing a sales network, reducing costs and improving information shared between the producer and customers. The company foresees an increase in the competitive pressure and thus aims to develop customer-oriented services and products at competitive prices”. It is expected that VEAM will continue to invest more in their core sectors such as manufacturing agricultural machinery, auxiliary industry and truck production to boost production, fabrication and machining of parts and components for the automobile industry

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