Press release
India Tractor Market, Tractor Industry, Market Revenue, Market Growth Analysis, Market Sales, Market Forecast, Market Size, Market Shares, Market Major Players: Ken Research
In India two-third population is engaged in Agriculture. Tractors form an essential part of this sector. They bring the required efficiency and productivity country needs in its agricultural activity to compete on the international level. The Indian tractor Industry has made preponderant improvement in production capacity and in terms of production volumes. The industry has been successful in indigenization of the technology. The volume growth in the industry has remained strong since FY12. Currently, Indian Tractor production contributes a third for the global tractor production. The major segment in Indian Tractor Industry is of agricultural tractor.
Market: The tractor market has seen significant growth in the last few years, recording a CAGR of ~% during 2016-2020 primarily due to normal and good monsoon, increased crop production and agricultural produce, and strong push from Indian Government. Apart from economic perspective, farm mechanization improves the quality of job and reduces stress from farmer’s job. The demand for tractors declined during 2015-2016 due to a contraction in the farm incomes, as the production of major crops and commodity prices reduced with lower procurements by the government, owing to adequate buffer reserves.
India Tractor Market
By Vehicle Category Type: Agricultural segment makes up majority share of the Tractor market of the country, followed by the commercial segment. Share for Commercial segment is low as Tractors are considered to be an Investment for farms and specific to agriculture rather than commuting or transportation. In addition to the same, various other farm equipment like power tiller and Harvestor are also gaining strength.
India Tractor Market Size and Segmentation
By Vehicle Category Type: The Tractor industry has been primarily dominated by the agricultural segment as they are multi-purpose. Commercial tractors are those tractors that are used for carrying luggage or transporting the loads. Tractors as a transportation vehicle as Indian individuals have more inclination towards Trucks and Mini Vans.
For More Information on the research report, refer to below link:-
https://www.kenresearch.com/agriculture-and-animal-care/agriculture-equipment/india-tractor-market-outlook-to-2025/472830-104.html
Registration by Region & State
North and Western have the highest share of Tractors due to the presence of manufacturing units and agricultural production. It is followed by Punjab, Haryana and U.P. Apart from the measures at the national level, several state governments are also committed to promoting Tractors in their states to drive market growth.
Normal monsoon has been a key driver of growth. It fuelled production and boosted farmers’ income, which eventually aided the expansion in tractor demand. All key states like Maharashtra, Madhya Pradesh, Bihar, Karnataka, Gujarat, Andhra Pradesh and Uttar Pradesh showed positive growth. The southern region outpaced all other regions on a uniform basis over the past three years, with growth being led by a strong demand in Andhra Pradesh, Tamil Nadu and Telangana. Government support programs and improved rural sentiments helped maintain the growth trajectory in these states. The eastern region continues to report strong volume growth within the current fiscal, albeit on a coffee base, benefitting from various government initiatives to spice up farm mechanization.
The northern region continues to lag the pan India growth. Uttar Pradesh, the most important tractor market within the region, has recorded healthy growth. Other key markets of Rajasthan and Punjab still struggle, as results of weak haulage and replacement demand respectively.
Competitive Scenario In India Tractor Market
The competition in the Tractor market in India is highly concentrated where leading manufacturers hold around ~% share in the market. The major tractors include Mahindra & Mahindra Limited (Tractor), Mahindra & Mahindra Limited (Swaraj Division), International Tractors Limited, Tafe Limited, Escorts Limited (Agri Machinery Group), John Deere India Pvt Ltd. (Tractor Division), Eicher Tractors, Cnh Industrial (India) Pvt Ltd, Kubota Agricultural Machinery India Pvt.Ltd., V.S.T. Tillers Tractors Limited. The market is highly unorganized and comprises of small assemblers who source part from China. These players compete on parameters Product Portfolio, Distribution Network, Pricing, Discounts, and Geographical Location, value Added Services, Collaborations & Partnerships and After Sales Service.
Key Segments Covered:-
By Vehicle Category
Agricultural
Commercial
Registration by Region
North
East
West
South
Registration by State
Tractor Makers Covered:-
Mahindra & Mahindra Limited (Tractor)
Mahindra & Mahindra Limited (Swaraj Division)
International Tractors Limited
Tafe Limited
Escorts Limited (Agri Machinery Group)
John Deere India Pvt Ltd (Tractor Devision)
Eicher Tractors
Cnh Industrial (India) Pvt Ltd
Kubota Agricultural Machinery India Pvt. Ltd.
V.S.T. Tillers Tractors Limited
Force Motors Limited, A Firodia Enterprise
Captain Tractors Pvt. Ltd.
Indo Farm Equipment Limited
Vani Electric Vehicles Pvt Ltd
Harvestor Makers Covered:-
John Deere India Pvt Ltd
Manku Agro Tech Pvt Ltd
Kartar Agro Industries Pvt Ltd
Preet Agro Industries Pvt Ltd
Mahindra & Mahindra Limited
Malkit Agro Tech Pvt. Ltd
Guru Nanak AgriEngg Works
Dasmesh Pvt. Ltd
Cnh Industrial (India) Pvt Ltd
K.S. Agrotech Pvt Ltd
Surindera Agro Industries
K.S. Agricultural Industries Pvt. Ltd
Hind Agro Industries
Hira Agro Industries
Claas India P Ltd
Sonalika Industries
New Hind Agro Pvt Ltd
Punjab Agro Implements Industries
Key Target Audience:-
Tractor OEMs
Consultancy Companies
Industry Associations
Regulatory Bodies
Time Period Captured in the Report:-
Historical Period – 2016-2020
Forecast Period – 2020-2025
Key Topics Covered in the Report:-
India Tractor Registration Volume
India Tractor Type (in Units)
India Tractor Vehicle Category (in Units)
India Tractor Vehicle Registration by Region
India Tractor Vehicle Registration by State
India Tractor Maker Market Share
India Tractor Registration Volume
India Tractor Type (in Units)
India Tractor Vehicle Category (in Units)
India Tractor Vehicle Registration by Region
India Tractor Vehicle Registration by State
India Tractor Maker Market Share
Future Market Size and Segmentations, 2020-2025F
For More Information on the research report, refer to below link:-
https://www.kenresearch.com/agriculture-and-animal-care/agriculture-equipment/india-tractor-market-outlook-to-2025/472830-104.html
Related Reports:-
https://www.kenresearch.com/agriculture-and-animal-care/agriculture-equipment/myanmar-agriculture-machinery-market-outlook-to-2025/427146-104.html
https://www.kenresearch.com/agriculture-and-animal-care/agriculture-equipment/vietnam-agricultural-machinery-market-outlook-to-2025/414449-104.html
https://www.kenresearch.com/agriculture-and-animal-care/agriculture-equipment/indonesia-agriculture-equipment-market-outlook-to-2025/409962-104.html
Contact Us:-
Ken Research
Ankur Gupta, Head Marketing & Communications
Support@kenresearch.com
+91-9015378249
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