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Indian Agricultural Tractor Market - 2019-2023 - Market Dynamics, Competitive Landscape, OEMs Strategies & Plans, Trends & Growth Opportunities, Market Outlook

Indian Agricultural Tractor Market - 2019-2023 - Market Dynamics, Competitive Landscape, OEMs Strategies & Plans, Trends & Growth Opportunities, Market Outlook

  • February 2019
  • 135 pages
  • ID: 5740263
  • Format: PDF
  • Noealt Corporate Services

Summary

Table of Contents

The Indian agricultural tractor market has been on an upswing with the market touching the peak of 6 lakh (600,000) tractor unit sales for FY2017-18 powered by significant tailwinds with a broad-based macroeconomic push, increased allocation by the central & state governments towards farm sector and strong focus on continued pursuit of structural agricultural reforms through roll out of a number of schemes & support programs along with a major push for mechanization in the country to boost overall efficiency & productivity.

The Agriculture sector in India has traditionally been one of the largest employment generators employing almost 45% of the population and contributing to almost 15% of the GDP; a situation unlike most developed and emerging economies where these numbers are around 3%-5% and 1% to 3% (GDP contribution) respectively. The situation is further compounded by the fact that the farm land sizes held by the farmers has been reducing, thereby, impacting the efficiency, overall productivity & farm output significantly with significant scope for efficient farming practices and mechanization based on custom built solutions for the Indian market.

Tractor sales in India touched the peak of 600,000 units in FY2017-18 with a favorable overall environment with the industry still optimistic and anticipating the tractor sales to touch the 8 lakh units level for FY2018-19 and reach the golden figure of 1 million units by the early to middle of next decade with the industry sales projected to grow at an expected, steady rate of 6%-7% CAGR. This is given the fact that India has around 6 lakh villages and the sales of 6 lakh tractors for FY2017-18 means a penetration rate of mere 1 tractor per village which is bound to go up significantly over medium term. Further, India is forecasted to be the fastest growing economy in the world in 2019 and 2020 leveraging lower international crude oil prices and a continued, strong domestic economic growth momentum, as per IMF in its World Outlook report published in January 2019, with the GDP growth pegged at around 7.5%. However, geopolitical tensions & macroeconomic uncertainty marked by the resurgence of multi-polarity and protectionism along with regional issues, like BREXIT and the rising trade tensions pose a significant threat to world GDP growth going forward.

The Indian tractor market is dominated by aboriginal Indian OEMs, namely, Mahindra & Mahindra, TAFE & Escorts with the trio collectively accounting for almost XX% of the tractor sales in the country led by the mid-size tractor segment. Key international tractor manufacturers, namely, John Deere and CNH have been able to penetrate the market & establish a decent market presence over the two decades after having entered the country in the late 1990s through JVs and establishing their own industrial bases subsequently.

Currently, almost all industry OEMs are gearing up for the anticipated further surge in demand for new tractors over near to medium term through capacity expansion across their manufacturing facilities, development of new tractor models as well as technologies and growing international exports & expansion of presence across international markets.

Against this rapidly evolving industry & market backdrop, the report provides a comprehensive & holistic analysis on the Indian agricultural tractor market with focus on a blend of quantitative & qualitative analysis. Part 1 of the report analyzes the current market size, drivers & competitive landscape for Agricultural Tractors. Part 2 provides analysis on key industry OEMs, including, business snapshot, product portfolio and insights into key strategies & plans being chalked out by these OEMs. Part 3 projects the likely market evolution over medium term with analysis of key market & technological trends, issues & challenges, market developments & potential growth opportunities. The report concludes by analyzing market evolution and projecting demand outlook for agricultural tractors in India over medium term.

Relevance & Usefulness:
The report provides insights & inputs to be incorporated into the broader strategic planning & decision making processes and will be essential from a competitive analysis and market entry standpoint as well.

The report will be useful for:

• Strategic Planning & Decision-Making process
• Analysis of Near to Medium Term Strategy Focus and Key Strategies & Plans for OEMs
• Identification of & Insights into Potential Growth Opportunities & Avenues
• Market Evolution & Demand Growth Projections over Medium Term
• Analysis of Key Market, Industry & Technology Trends and Developments likely to Shape Future
• Strategic Market Outlook, Evolution & Demand Growth Projections over Medium Term

For Whom:
The report will be essential for those having strategic interest in the Indian Agricultural Tractor Market. The report will be extremely useful for Key Decision-Makers, Program Managers, Global Procurement Managers, Top Management of Industry Players & Other Companies, Industry OEMs, Suppliers, Vendors, Associated Equipment Manufacturers and other Key Players in the Industry Value Chain. The report will also be useful for existing & potential Investors, Industry & Company Analysts, M&A Advisory Firms, Strategy & Management Consulting Firms, PE Firms, Venture Capitalists, Financing & Leasing Companies, Researchers and all those associated with the industry.

The report is comprehensive yet concise & compact at the same time; is custom-built for meetings & presentations, being built on the Microsoft PowerPoint platform; in addition, to being a ready self-reckoner as well as a quick reference guide driving, enabling & ensuring prompt and informed decision making.

Features, Benefits & Reasons to Procure:-
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• Blend of Quantitative & Qualitative Analysis
• Significant Time Savings
• Visual Representation
• Meetings & Presentation Ready Format
• Superior & Enriched User Experience with Incorporation of Relevant Images & Infographics

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