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India Agricultural Tractor Machinery Market - By Type and Application Market Shares, Forecasts and Trends (2017 - 2022)

  • February 2017
  • -
  • Mordor Intelligence LLP

Summary

Table of Contents

The India agricultural tractor machinery market was USD XXX million in 2015 and is estimated to reach a value of USD XXX million by 2022, at a CAGR of 5.81%. With the changing industrial trends, leading to the development of more sophisticated agricultural machinery, farming methods took a giant leap forward. Tractor machinery helps to increase the productivity of the farm, improve the quality of product and reduce the physical efforts. The increase in productivity and output have been the two major reasons for farm mechanization of any country. India has always been an agriculture-based country and tractors play an integral role in the process of farm mechanization, which on the other hand plays a crucial role in increasing the agricultural productivity. Case IH is on the verge of introducing a series of autonomous or driverless trucks within the next three years, which would play a key role in the mechanization of agricultural productivity.

With the technological advent of tractors, driverless tractors that use GPS maps and electronic sensors have been the latest addition in the India agricultural tractor market and the same can be foreseen during the forecast period. The growth rate of tractor sales in India was one of the highest in the global market, in the last two years. Several government subsidies for farm mechanization is driving the agricultural tractor machinery market in this country.

The growth in the tractor market in the country is driven by the huge land holdings in the country. A tractor is a capital-intensive machinery, which is a versatile and used for multiple purposes, including that of land reclamation and for carrying out various crop cultivation. In addition, getting into the business does not require any licensing prerequisites, government regulations or any other constraints that otherwise play a role in preventing companies from entering the tractors and agricultural machinery manufacturing industry. However, the erratic nature of the demand-side dynamics in the country for agricultural tractors prevents the growth of the market to an extent.

Market Dynamics

Short shelf-life of conventional machines increases the need for technically advanced machinery to achieve higher productivity and substitute human labor. Technological advancement, along with the heavy integration of precision farming, is going to provide opportunities for future growth in the tractor machinery market. There are comprehensive farm mechanization programs in India, which aim to integrate the use of available human and animal farm power with mechanical sources of power like that for tractors, for increasing the productivity, thus, driving the market growth.

Breaking News- An Uber-like smartphone app has been exclusively launched in India, which is aimed at increasing convenience to farmers to hire tractors on a large scale. In addition, vehicle-maker Mahindra and Mahindra has recently launched an app - Trringo which provides hourly rental between INR 400 and INR 700.

Market Segmentation

The India agricultural tractors market has been segmented based on product type and end application.

By Product Type:

Pedestrian
Wheeled
By Application:

Utility Tractors
Row Crop Tractors
Garden and Orchard Type Tractors
Others
Some of the key players in the India agricultural tractor machinery market are:

AGCO
CNH Industrial
Deere and Company
Kubota
Mahindra and Mahindra Ltd.
Key Deliverables of the Study

Market analysis for the India agricultural tractor machinery market, with region-specific assessments and competition analysis on various scales.
Market definition along with the identification of key drivers and restraints.
Identification of factors instrumental in changing the market scenario, rising prospective opportunities, and identification of key companies that can influence this market on a regional scale.
Extensively researched competitive landscape section with profiles of major companies along with their market share.
Identification and analysis of the macro and micro factors that affect the India agricultural tractor machinery market on a regional scale.
A comprehensive list of key market players along with the analysis of their current strategic interests and key financial information.
A wide-ranging knowledge and insights about the major players in this industry and the key strategies adopted by them to sustain and grow in the studied market.
Insights on the major countries/regions where this industry is growing and identify the regions that are still untapped.

Please note: this report requires certain updates. We have all the information available but require 2 business days to complete the process and ensure it is as up-to-date as possible.


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