Agricultural Machinery Market to Witness Huge Growth By 2025 | Escorts, Force Motor, Greavers Cotton

A new research document is added in HTF MI database of 81 pages, titled as 'Agricultural Machinery Market in India 2020' with detailed analysis, Competitive landscape, forecast and strategies. The study covers geographic analysis that includes regions like Punjab, Haryana, and Uttar Pradesh and important players/vendors such as Mahindra & Mahindra Limited, Escorts Limited, Force Motor Limited, Greavers Cotton Limited. The Market has witnessed continuous growth in the past few years and is projected to see some stability post Q2,2020 and may grow further during forecast year 2021-2026

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Summary
The agriculture and allied sector plays a crucial role in a developing agrarian economy like India. More than 50% of the population is dependent on agriculture for livelihood. As of 2020, the agriculture sector accounts for more than 17% of the nation’s Gross Domestic Product (GDP); however, the mechanization level in India is less than countries like Brazil (75%), the United States (95%), and China (57%). Nevertheless, in the past few years, the country has witnessed a significant surge in the sale of agricultural machinery sales due to power availability on farms, and ease in financing options in the country.
The agricultural machinery market in India was valued at ~INR 880.23 Bn in FY 2019 and is expected to reach ~INR 1,203.01 Bn by FY 2025, expanding at a CAGR of ~5.51% during the FY 2020-FY 2025 period.

Segment insights:
India is the world’s biggest tractor manufacturer, and accounts for more than one-third of the total tractor production. The tractor segment accounted for more than 80% of the market’s revenue in FY 2020. Tractor penetration is high in northern India's agrarian zone, principally Punjab, Haryana, and Uttar Pradesh, while in the southern and western regions of India, mainly Andhra Pradesh, Tamil Nadu, and Maharashtra, the adoption rate is low. Other segments of the market include rotavators, threshers, and power tillers.
Tractors with horsepower capacity of 30 HP-50 HP are have been sold the most and comprise more than 80% of the tractor industry revenue. However, the industry is witnessing a gradual shift towards tractors with higher capacity to suit multiple soil conditions.

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Impact of COVID-19 and the way forward:
The lockdown, which was imposed by the Indian government to curb the spread of the novel coronavirus, brought trade, manufacturing and commerce to a standstill, radically transforming the business scenario in the country. The situation has severely hampered the sale of tractors and other agricultural equipment in the country. Further, the industry is experiencing a rise in freight rates due to labor shortages and supply chain disruptions. As a result, the Indian tractor market, which is the largest segment of the agricultural machinery industry, declined by more than 10%.
Moreover, due to the temporary suspension of trade between countries, businesses are adopting the strategy of 'producing and consuming local,' which is expected to boost the domestic production of farm equipment.

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Companies covered:
• Mahindra & Mahindra Limited
• Escorts Limited
• Force Motor Limited
• Greavers Cotton Limited
• Shivagrico Implements Limited
• VST Tillers Tractors Limited
• John Deere India Private Limited
• Tractor and Farm Equipment Limited
• International Tractor Limited
• CNH Industries India Private Limited

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Major Highlights of TOC:

Chapter 1: Executive summary

Chapter 2: Socio-economic indicators

Chapter 3: Introduction

3.1. Market definition and structure
3.2. Value chain analysis
3.3. Mechanization level analysis

Chapter 4: Global agricultural machinery market overview

4.1. Global agricultural machinery market size and growth forecast (2019-2025e)
Chapter 5: Ind

....Continued

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