Industry insiders say China has a vast demand for large and medium tractors and many other types of agricultural machinery as the country moves to modernize its agriculture.
"China needs 200,000 large and medium tractors each year over the next five years," said a market research report
The report, drafted by the Shenyang North Traffic Heavy Industry Group Co. Ltd, said China has 17.28 million tractors in use at present, including 1.67 million large and medium tractors. In addition, about 20 percent of the large and medium tractors in use have served for more than 10 tens.
The report said that as the scale and technological level of agricultural production grows, there's an increasing need to replace small tractors with large and medium tractors.
The company, an engineering machinery producer based in Shenyang, capital of northeast China's Liaoning Province, started construction of a modern agricultural machinery industrial park in Shenyang on Oct. 10.
According to the report, the use of machinery in agricultural production remains very limited in China, which promises a vast market potential.
Source: Xinhua
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