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Tractor Market in India by 2025 - Will the industry witness doubling of sales volume by 2025?

Tractor Market in India by 2025 - Will the industry witness doubling of sales volume by 2025?

  • October 2016
  • 210 pages
  • ID: 4838612
  • Format: PDF
  • Infra Insights

Summary

Table of Contents

India is the largest tractor market in the world and hence one of the most important markets for all the leading Indian and global companies having Tractor in its farm equipment portfolio.

However, when one compares the prevailing density of tractors in India to some of the leading economies, one would find that its way below the world average. Hence, the headroom for growth is immense and given that agriculture has huge weight in the overall economy, economic growth will not be possible without growth in agriculture.

Demand for tractor is highly dependent on good monsoon and government support on maintaining MSPs at an attractive levels for the farmers. The tractor industry in India grew at a CAGR of 12% from yearly volume levels 1983 units in 1963-64 to over ~600,000 units in 2015-16. Industry saw two strong waves of growth of 10% CAGR in 1973-2000 (27 years) and 2003-2014 (11 years). Trend analysis indicates that the industry typically witnesses 3-4 years of good higher teen CAGR growth followed by a lull period of 2 years. Also, the resurgence in demand were as strong as the drop in volume during lull period. After witnessing a peak volume of over 700000 units in 2013-14, Industry has plummeted to levels of sub 600000 units in 2015-16. Thanks to good monsoon in 2016-17 and favorable monsoon condition expected in next 2 years, tractor industry is expected to witness 15-18% growth over the next 2 years.

InfraInsights research report " Tractor Market in India by 2025 - Will the industry witness doubling of sales volume by 2025?" will build scenarios to project the volumes industry is likely to see by 2025. Report will be an intensive primary and secondary research based outcome that will help industry get a view on demand environment over the next 10 years. Report will help companies understand the demand dynamics at national and state level, hp wise demand for tractors and factors that will lead to expansion of 50 hp and above tractors. InfraInsights will also conduct interviews with farmers across states and regions to understand the factors that will drive decision to purchase tractor and factors that will make end consumer replace their existing tractor.

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