Ukrainian company K-FACTOR, a recent entrant into Ukraine's agricultural machinery market specializing in grain carts, plans to capture up to 25% of the domestic market within three years, the company announced.

"Within three years, the company aims to secure up to 25% of Ukraine's grain cart market, actively redistributing market share in favor of K-FACTOR through innovative solutions, competitive pricing, and accessible service," the company told Interfax-Ukraine.

According to K-FACTOR, the grain cart market in Ukraine is highly competitive but holds significant potential due to the steady growth of the agricultural sector and the need for more efficient logistics solutions.

Currently, the Ukrainian market includes domestic manufacturers such as Kobzarenko Plant, Egritech, and Vinmashpostach, as well as international brands like J&M and Kinze.

"Ukraine is one of the world's leading agricultural nations, but in terms of mechanization and logistics efficiency, there is still room for growth. Our equipment helps reduce operating costs for farms by optimizing logistics," said Roman Hirshfeld, K-FACTOR co-founder.

He noted that with the ongoing war in Ukraine, there is pent-up demand as the agricultural sector operates under challenging economic and security conditions.

"The end of hostilities will lead to the recovery of the agricultural sector. Demand for new equipment will increase as farms need to upgrade their fleets after years of limited investment. Ukraine’s role as a global grain exporter will strengthen, requiring efficient logistics solutions. That’s why we are laying the foundation for dynamic growth post-war," he added.

Regarding the company's export strategy, co-founder Oleksandra Lunina told Interfax-Ukraine that K-FACTOR aims to establish a strong presence in Ukraine throughout 2025 before launching exports.

"The first phase of exports will target geographically and agriculturally close countries such as Moldova, Romania, Poland, and Bulgaria. Gradually, we will expand our presence in the EU, where Ukrainian machinery can compete with global manufacturers. Another crucial step is entering the Canadian market," she said.

The company was founded in March 2024, with its registered entity, K-FACTOR LLC, based in Poltava. The co-founders include Dmytro Liashenko, founder of special machinery manufacturer DLight (40% stake), Roman Hirschfeld, founder of HF Agro and Lozova Machinery (36%), and marketing, advertising, and PR expert Oleksandra Lunina (24%).

K-FACTOR's production facilities are located in Kremenchuk and currently allow for the annual production of up to 100 units.