India Agricultural Tractor Market by Engine Power (31-40 HP, 41-50 HP, and Above 50 HP), and Applications (Row Crop Tractors, Orchard Tractors, and Others), and Country - Industry Analysis, Growth, Share, Size, Trends, and Forecast 2021 – 2028.
The India agricultural tractor market size is estimated to expand at a significant CAGR during the forecast period, 2021–2028. The growth of the market is attributed to the increasing innovation and advancement in the agriculture industry.
India is one of the world's major tractor markets, selling between 600,000 and 700,000 tractors each year on average due to stronger Kharif sowing, improved cash flows to farmers, a timely and regular rainfall in the country during June and July, ongoing higher rural expenditures by the government, and demand for agricultural machinery.
The money is released by the federal government to the state government. The subsidy is then distributed to each district by the country's state government. The government is focusing on electronically transferring the subsidy to recipients' accounts to assist avoid payment delays and guarantee that the benefit reaches its intended recipient. On other hand the worldwide pandemic has had no significant influence on the Indian agricultural tractor industry. Over time, government programs for rural development and agricultural mechanization, as well as other variables such as higher rural salaries and a scarcity of farm workers, are projected to boost the tractor volume.
Market Trends, Drivers, Restraints, and Opportunities
- Increasing demand for automation in agriculture and the logistics industry is expected to drive the market growth.
- Easy financing, digitization, and widespread use of tractors in farming activities are major factors spurring the market growth.
- The presence of easy bank financing option is anticipated to boost the tractor market growth during the forecast period.
- High cost of tractor can hamper the market expansion.
- Government initiatives regarding rural development and farm mechanization is offering ample opportunities to the India agricultural tractor market
Scope of the Report
The report on the India agricultural tractor market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
| Attributes | Details |
| Report Title | India Agricultural Tractor Market - Industry Analysis, Growth, Share, Size, Trends, and Forecast |
| Base Year | 2020 |
| Historic Data | 2018–2019 |
| Forecast Period | 2021–2028 |
| Segmentation | Engine Powers (31-40 HP, 41-50 HP, and Above 50 HP) and Applications (Row Crop Tractors, Orchard Tractors, and Others) |
| Country | India |
| Report Coverage | Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast |
| Key Players Covered in the Report | TAFE Limited; Escorts Group; Mahindra & Mahindra Limited; John Deere India Private Limited; and CNH Industrial (India) Pvt. Ltd |
India Agricultural Tractor Market Segment Insights
31-40 HP segment is expected to grow at a rapid pace
Based on engine power, the market is divided into 31-40 HP, 41-50 HP, and above 50 HP. The 31-40 HP segment is expected to grow at a rapid pace during the forecast period due to small size of land and presence of many financial institutions that make loans readily available to farmers, The loans are aided by favorable government policies and subsidy schemes. To support automation, various credit schemes, simple instalments broken down by crop cycle, and low-interest-rate programs are available.
Row crop tractors segment is projected to register a sustainable CAGR
On the basis of applications, the market is segregated into row crop tractors, orchard tractors, and other. The row crop tractors segment is projected to expand at a considerable CAGR during the forecast period due to the decreasing availability of agricultural labor. Furthermore, the advent of new business models such as custom tractor hire solutions, India remains a profitable tractor industry for major industry players
Segments
Segments Covered in the Report
The India agricultural tractor market has been segmented on the basis of
Engine Powers
- 31-40 HP
- 41-50 HP
- Above 50 HP
Applications
- Row Crop Tractors
- Orchard Tractors
- Other
Country
-
India
Key Players
- TAFE Limited
- Escorts Group
- Mahindra & Mahindra Limited
- John Deere India Private Limited
- CNH Industrial (India) Pvt. Ltd
Competitive Landscape
Key players competing in the India agricultural tractor market are TAFE Limited; Escorts Group; Mahindra & Mahindra Limited; John Deere India Private Limited; and CNH Industrial (India) Pvt. Ltd. Farmers choose trusted brands for guarantee of quality and after-sales services supplied by major corporations in India's agricultural machinery sector, which is concentrated and dominated by large global and domestic manufacturers. Machines are made in the country since most foreign businesses have local production facilities there.
The major participant in the India agricultural tractor market is Mahindra & Mahindra Ltd, which is followed by Tractor and Farm Equipment Ltd (TAFE), International Tractor Ltd, and Escorts Limited. Companies engage in joint ventures and partnerships in order to enhance their manufacturing capacity and increase sales.
2. Assumptions and Acronyms Used
3. Research Methodology
4. Agricultural Tractor Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Agricultural Tractor Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Agricultural Tractor Market - Supply Chain
4.5. Global Agricultural Tractor Market Forecast
4.5.1. Agricultural Tractor Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Agricultural Tractor Market Size (000’ Units) and Y-o-Y Growth
4.5.3. Agricultural Tractor Market Absolute $ Opportunity
5. Global Agricultural Tractor Market Analysis and Forecast by Region
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Region
5.2.2. Y-o-Y Growth Projections by Region
5.3. Agricultural Tractor Market Size and Volume Forecast by Region
5.3.1. North America
5.3.2. Latin America
5.3.3. Europe
5.3.4. Asia Pacific
5.3.5. Middle East and Africa (MEA)
5.4. Absolute $ Opportunity Assessment by Region
5.5. Market Attractiveness/Growth Potential Analysis by Region
5.6. Global Agricultural Tractor Demand Share Forecast, 2019-2026
6. North America Agricultural Tractor Market Analysis and Forecast
6.1. Introduction
6.1.1. Basis Point Share (BPS) Analysis by Country
6.1.2. Y-o-Y Growth Projections by Country
6.2. North America Agricultural Tractor Market Size and Volume Forecast by Country
6.2.1. U.S.
6.2.2. Canada
6.3. Absolute $ Opportunity Assessment by Country
6.4. Market Attractiveness/Growth Potential Analysis
6.4.1. By Country
6.4.2. By Product Type
6.4.3. By Application
6.5. North America Agricultural Tractor Demand Share Forecast, 2019-2026
7. Latin America Agricultural Tractor Market Analysis and Forecast
7.1. Introduction
7.1.1. Basis Point Share (BPS) Analysis by Country
7.1.2. Y-o-Y Growth Projections by Country
7.1.3. Latin America Average Pricing Analysis
7.2. Latin America Agricultural Tractor Market Size and Volume Forecast by Country
7.2.1. Brazil
7.2.2. Mexico
7.2.3. Rest of Latin America
7.3. Absolute $ Opportunity Assessment by Country
7.4. Market Attractiveness/Growth Potential Analysis
7.4.1. By Country
7.4.2. By Product Type
7.4.3. By Application
7.5. Latin America Agricultural Tractor Demand Share Forecast, 2019-2026
8. Europe Agricultural Tractor Market Analysis and Forecast
8.1. Introduction
8.1.1. Basis Point Share (BPS) Analysis by Country
8.1.2. Y-o-Y Growth Projections by Country
8.1.3. Europe Average Pricing Analysis
8.2. Europe Agricultural Tractor Market Size and Volume Forecast by Country
8.2.1. Germany
8.2.2. France
8.2.3. Italy
8.2.4. U.K.
8.2.5. Spain
8.2.6. Russia
8.2.7. Rest of Europe
8.3. Absolute $ Opportunity Assessment by Country
8.4. Market Attractiveness/Growth Potential Analysis
8.4.1. By Country
8.4.2. By Product Type
8.4.3. By Application
8.5. Europe Agricultural Tractor Demand Share Forecast, 2019-2026
9. Asia Pacific Agricultural Tractor Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.1.3. Asia Pacific Average Pricing Analysis
9.2. Asia Pacific Agricultural Tractor Market Size and Volume Forecast by Country
9.2.1. China
9.2.2. Japan
9.2.3. South Korea
9.2.4. India
9.2.5. Australia
9.2.6. Rest of Asia Pacific (APAC)
9.3. Absolute $ Opportunity Assessment by Country
9.4. Market Attractiveness/Growth Potential Analysis
9.4.1. By Country
9.4.2. By Product Type
9.4.3. By Application
9.5. Asia Pacific Agricultural Tractor Demand Share Forecast, 2019-2026
10. Middle East & Africa Agricultural Tractor Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Middle East & Africa Average Pricing Analysis
10.2. Middle East & Africa Agricultural Tractor Market Size and Volume Forecast by Country
10.2.1. Saudi Arabia
10.2.2. South Africa
10.2.3. UAE
10.2.4. Rest of Middle East & Africa (MEA)
10.3. Absolute $ Opportunity Assessment by Country
10.4. Market Attractiveness/Growth Potential Analysis
10.4.1. By Country
10.4.2. By Product Type
10.4.3. By Application
10.5. Middle East & Africa Agricultural Tractor Demand Share Forecast, 2019-2026
11. Competition Landscape
11.1. Global Agricultural Tractor Market: Market Share Analysis
11.2. Agricultural Tractor Distributors and Customers
11.3. Agricultural Tractor Market: Competitive Dashboard
11.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
Segments Covered in the Report
The India agricultural tractor market has been segmented on the basis of
Engine Powers
- 31-40 HP
- 41-50 HP
- Above 50 HP
Applications
- Row Crop Tractors
- Orchard Tractors
- Other
Country
-
India
Key Players
- TAFE Limited
- Escorts Group
- Mahindra & Mahindra Limited
- John Deere India Private Limited
- CNH Industrial (India) Pvt. Ltd
Key players competing in the India agricultural tractor market are TAFE Limited; Escorts Group; Mahindra & Mahindra Limited; John Deere India Private Limited; and CNH Industrial (India) Pvt. Ltd. Farmers choose trusted brands for guarantee of quality and after-sales services supplied by major corporations in India's agricultural machinery sector, which is concentrated and dominated by large global and domestic manufacturers. Machines are made in the country since most foreign businesses have local production facilities there.
The major participant in the India agricultural tractor market is Mahindra & Mahindra Ltd, which is followed by Tractor and Farm Equipment Ltd (TAFE), International Tractor Ltd, and Escorts Limited. Companies engage in joint ventures and partnerships in order to enhance their manufacturing capacity and increase sales.
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