Dublin, March 22, 2022 (GLOBE NEWSWIRE) -- The "India Tractor Market - Industry Analysis & Forecast 2022-2028" report has been added to ResearchAndMarkets.com's offering.
India was the largest agriculture tractor market globally in 2021, with an overall sales volume of 614.5 thousand units. The increase in crop production and tractor sales resulted from favorable monsoon rains in 2019 and 2020, which helped the country to recover from the drought-induced low in 2017 and the COVID-19 pandemic.
The shipments are expected to grow at a CAGR of 5.78%
Market Growth Enablers
- Augmented Financial Support to Farmers Through Loans And Subsidies
- Growth In Agricultural Productivity and Exports
- Migration To Cities Leading to Labor Shortage
Segmentation Analysis
Tractors in the power range of 41-60 HP are likely to be the largest contributors to the growth of the tractors industry in India. The agriculture tractor market in India is dominated by 2WD tractors, which account for approximately 99% of the overall market.
Segmentation by Horsepower
- Less Than 20 HP
- 20-40 HP
- 41-60 HP
- 61-100 HP
- Above 100 HP
Segmentation by Drive Type
- 2-Wheel-Drive
- 4-Wheel-Drive
Geographical Analysis
In terms of zones, the northern and western states have reportedly shown a higher demand for agriculture tractors than the southern and eastern parts of the country. Also, the states in the north zone of the country have a higher level of mechanization than any other part of the country. Hence, the market can be considered to move toward saturation in the north zone. Therefore, the strong demand for agriculture tractors is expected to come from the southern part of the country.
Vendor Analysis
In terms of units sold, Mahindra and TAFE were the two largest tractor manufacturers in 2020. Mahindra was the highest-selling tractor in the country, with more than 300 thousand tractors sold in 2020.
Key Vendors
- Mahindra Tractors
- TAFE
- Escorts
- International Tractors (Sonalika)
- Deere & Company
- CNH Industrial
Other Prominent Vendors
- SDF
- Kubota
- Action Construction Equipment (ACE)
- Indo Farm
- Captain Tractors
- Force Motors
- VST Tillers Tractors
- Preet Group
- Standard Corp.
- Yanmar
- AGCO
The Report Includes:
1. The analysis of the India Tractor Market provides market size and growth rate for the forecast period 2022-2028.
2. It offers comprehensive insights into current industry trends, trend forecast, and growth drivers about the India Tractor Market.
3. The report provides the latest analysis of market share, growth drivers, challenges, and investment opportunities.
4. It offers a complete overview of market segments and the regional outlook of the India Tractor Market.
5. The report offers a detailed overview of the vendor landscape, competitive analysis, and critical market strategies to gain competitive advantage.
Key Topics Covered:
1 Research Methodology
2 Research Objectives
3 Research Process
4 Scope & Coverage
4.1 Market Definition
4.1.1 Inclusions
4.1.2 Exclusions
4.1.3 Market Estimation Caveats
4.2 Base Year
4.3 Scope of the Study
5 Report Assumptions & Caveats
5.1 Key Caveats
5.2 Currency Conversion
5.3 Market Derivation
6 Market at a Glance
7 Introduction
7.1 Overview
7.2 India's Agricultural Incentives
7.3 Farming Scenario of India
7.4 Advantage India
7.5 Import and Export Analysis
7.6 Subsidy to Farmers in India for Selected Machinery
7.7 Cropping Intensity and Land Holding Structures
7.8 Role of Tractors in the Indian Agriculture Sector
7.9 Technological Advancements
7.10 Impact of Covid-19 on the Indian Agriculture Sector
8 Market Landscape
8.1 Market Overview
8.2 Market Size & Forecast
8.3 Five Forces Analysis
8.3.1 Threat of New Entrants
8.3.2 Bargaining Power of Suppliers
8.3.3 Bargaining Power of Buyers
8.3.4 Threat of Substitutes
8.3.5 Competitive Rivalry
9 Horsepower Segmentation
9.1 Market Snapshot & Growth Engine
9.2 Market Overview
9.3 Less Than 20 Hp
9.3.1 Market Overview
9.3.2 Market Size & Forecast
9.3.3 Less Than 20 Hp Tractor Market in India by Zones
9.4 20-40 Hp
9.4.1 Market Overview
9.4.2 Market Size & Forecast
9.4.3 20-40 Hp Tractor Market in India by Zones
9.5 41-60 Hp
9.5.1 Market Overview
9.5.2 Market Size & Forecast
9.5.3 41-60 Hp Tractor Market in India by Zones
9.6 61-100 Hp
9.6.1 Market Overview
9.6.2 Market Size & Forecast
9.6.3 61-100 Hp Tractor Market in India by Zones
9.7 Above 100 Hp
9.7.1 Market Overview
9.7.2 Market Size & Forecast
9.7.3 Above 100 Hp Tractor Market in India by Zones
10 Drive Type
10.1 Market Snapshot & Growth Engine
10.2 Market Overview
10.3 2-Wheel-Drive
10.3.1 Market Overview
10.3.2 Market Size & Forecast
10.3.3 2 Wd Tractor Market in India by Zones
10.4 4-Wheel-Drive
10.4.1 Market Overview
10.4.2 Market Size & Forecast
10.4.3 4 Wd Tractor Market in India by Zones
11 Zone Segmentation
11.1 Market Snapshot & Growth Engine
11.2 Market Overview
11.3 North Zone
11.3.1 Market Overview
11.3.2 Market Size & Forecast
11.3.3 North Zone Tractor Market by Hp
11.3.4 North Zone Tractor Market by Wheel Drive
11.4 South Zone
11.4.1 Market Overview
11.4.2 Market Size & Forecast
11.4.3 South Zone Tractor Market by Hp
11.4.4 South Zone Tractor Market by Wheel Drive
11.5 West Zone
11.5.1 Market Overview
11.5.2 Market Size & Forecast
11.5.3 West Zone Tractor Market by Hp
11.5.4 West Zone Tractor Market by Wheel Drive
11.6 East Zone
11.6.1 Market Overview
11.6.2 Market Size & Forecast
11.6.3 East Zone Tractor Market by Hp
11.6.4 East Zone Tractor Market by Wheel Drive
12 Market Opportunities & Trends
12.1 Increasing Focus on Remote Monitoring Technology in Tractors
12.1.1 Self-Driving Tractors
12.1.2 Gps Technology
12.1.3 Growing Demand for Autonomous Tractors
12.1.4 Alternate Fuel Based Tractors
12.2 Growing Farm Mechanization
12.2.1 Indian Government Initiatives to Promote Farm Mechanization
12.3 Increasing Adoption of Precision Farming
13 Market Growth Enablers
13.1 Augmented Financial Support to Farmers Through Loans and Subsidies
13.2 Growth in Agricultural Productivity and Exports
13.2.1 Agricultural Exports
13.3 Migration to Cities Leading to Labor Shortage
13.3.1 Major Shortage of Labor in the Agriculture Sector
13.3.2 Increased Labor Wages
13.4 Socio-Demographic Changes in India
14 Market Restraints
14.1 Lack of Awareness of the Latest Technologies in Agriculture
14.1.1 Low Levels of Education Among Farmers
14.1.2 Resource Scarcity of Small and Medium Farmers
14.2 Swelling Demand for Used and Rental Tractors
14.3 Marginal and Fragmented Agricultural Farmlands
15 Competitive Landscape
15.1 Competition Overview
15.1.1 Brand Loyalty
15.1.2 Sales and Exports
16 Key Company Profiles
17 Other Prominent Vendors
18 Report Summary
19 Quantitative Summary
20 Appendix
For more information about this report visit https://www.researchandmarkets.com/r/jepeyy
