Please Wait.....
Report
India Agricultural Machinery Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)
Market Report I 2023-01-23 I 180 Pages I Mordor Intelligence
The Indian agricultural machinery market is projected to record a CAGR of 4.9% during the forecast period 2022-2027.
The COVID-19 pandemic had a negative impact on supply chains. Due to restrictions in the movement of raw materials, the manufacturing sector suffered initially in terms of supply and cash flow. The sales of agricultural machinery also declined around the world due to the lockdown. Manufacturers still need to take measures to tide over uncertainties from the COVID-19 pandemic and work on innovations to grow their sales value.
Some major drivers of the Indian agricultural machinery market identified in this report include favorable government policies, rising farm incomes, and the importance of mechanization for productivity in India. Major restraints identified in this report are fragmented land holdings, agricultural commodity price volatility, and product knowledge constraints among unskilled manpower.
The potential for growth in the agriculture machinery sector is huge in India, given its growing population, high economic dependence on the agriculture sector, changing demographics, and food security concerns. In Asia-Pacific, India has remained one of the primary nations, which fuelled the growth of its agricultural equipment market due to the country's high level of dependence on agriculture and an increasing inclination toward technology adoption.
India Agricultural Machinery Market Trends
Increasing Focus on Farm Mechanization
In India, about half the population relies on agriculture as it is the principal source of income and a source of raw material for a large number of industries. The increase in production of grains, cereals, and oilseeds is driven by a combination of increased yield and agricultural mechanization. Thus, farm mechanization plays a key role in sustaining agricultural growth.
There has been a consistent shortage in labor-intensive agricultural operations in India due to the changing workforce preference from pure farm-oriented activities to allied sectors. This is anticipated to drive the market over the coming years. Another factor driving farm mechanization in the country is the drudgery of farm activities, as the timely performance of farm activities and the small window available for conducting these operations compound the challenges.
Thus, the need to increase production and cater to a consistent shortage in the labor force is expected to boost the sales of agricultural machinery over the forecast period.
Tractor Segment to Drive the Indian Agricultural Machinery Market
India is one of the largest markets for tractors in the world. Tractors form the majority of machinery usage in India; the availability of tractors in the study period was 128.51 as of 2000 per 100 sq. km. of arable land. Tractors are seen as engines or vehicles for pulling wagons or plows. Other than plowing, tractors are also used for drawing, towing, harrowing, etc. The usage of tractors brought about an important change in agricultural mechanization in the country.
The country produces a huge volume of tractors and also exports tractors globally. On average, the country exports 79,000 units of tractors to African and ASEAN economies. Moreover, the total refinancing quantum recorded a CAGR of 18% over the period 2006-18, whereas the refinancing of farm mechanization registered a 12% CAGR over the same period.
Thus, the increasing farm mechanization, coupled with the rising financial assistance from the Indian government through various schemes, such as the Remunerative Approach for Agriculture and Allied Sector Rejuvenation (RKVY), National Food Security Mission (NFSM), National Mission on Oilseeds and Oil Palm (NHM & NMOOP), is likely to accelerate tractor sales over the coming years.
India Agricultural Machinery Market Competitor Analysis
The Indian agricultural machinery market is consolidated, with the major players occupying the maximum share of the market. Renowned players like Mahindra & Mahindra Ltd, CNH Industrial NV, Tractors and Farm Equipment Ltd, Escorts Group, Sonalika, and John Deere India are some major players in the Indian agricultural machinery market. New product launches, partnerships, and acquisitions are the major strategies being adopted by leading companies in the market.
Additional Benefits:
The market estimate (ME) sheet in Excel format
3 months of analyst support
1 INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.3 Market Restraints
4.4 Porter's Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION
5.1 Type
5.1.1 Tractors
5.1.1.1 Less than 50 HP
5.1.1.2 50 to 75 HP
5.1.1.3 76 to 100 HP
5.1.1.4 101 to 150 HP
5.1.1.5 Greater than 150 HP
5.1.2 Equipment
5.1.2.1 Plows
5.1.2.2 Harrows
5.1.2.3 Rotovators & Cultivators
5.1.2.4 Seed and& Fertilizer Drills
5.1.2.5 Other Equipment
5.1.3 Irrigation Machinery
5.1.3.1 Sprinkler Irrigation
5.1.3.2 Drip Irrigation
5.1.3.3 Other Irrigation Machinery
5.1.4 Harvesting Machinery
5.1.4.1 Combine Harvesters
5.1.4.2 Forage Harvesters
5.1.4.3 Other Harvesting Machinery
5.1.5 Haying and Forage Machinery
5.1.5.1 Mowers and Conditioners
5.1.5.2 Balers
5.1.5.3 Other Haying & Forage Machinery
6 COMPETITIVE LANDSCAPE
6.1 Most Adopted Strategies
6.2 Market Share Analysis
6.3 Company Profiles
6.3.1 John Deere India Private Limited
6.3.2 TAFE Motors and Tractors Limited
6.3.3 International Tractors Ltd (Sonalika)
6.3.4 Escorts Limited
6.3.5 Mahindra & Mahindra Limited
6.3.6 CNH Industrial (India) Private Limited
6.3.7 Force Motors Ltd
6.3.8 VST Tillers Tractors Limited
6.3.9 Shivagrico Implements Limited
6.3.10 Greaves Cotton Limited
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
- Not Sure / Need Reassuring
- Confirm Content
-
Content is provided by our partners and every effort is made to make Market Report details as clear as possible. If you are not sure the exact content you require is included in this study you can Contact us to double check. To do this you can:
Use the ‘? ASK A QUESTION’ below the license / prices and to the right of this box. This will come directly to our team who will work on dealing with your request as soon as possible.
Write to directly on support@scotts-international.com with details. Please include as much information as possible including the name of report or link so our staff will be able to work on you request.
Telephone us directly on 0048 603 394 346 and an experienced member of team will be on hand to answer.
-
- Sample Pages
-
With the vast majority of our partners we can obtain Sample Pages to support your decision. This is something we can arrange without revealing your personal details.
It is important to note that we will not be able to provide you the exact data or statistics such as Market Size and Forecasts. Sample pages usually confirm the layout or the Categories included in Charts and Graphs, excluding specific data.
To ask for Sample Pages by contact us through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346.
-
- Check for Alternatives
-
Whilst we try to make our online platform as easy to use as possible there is always the possibility that a better alternative has not been found in your search.
To avoid this possibility Contact us through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346 and a Senior Team Member can review your requirements and send a list of possibilities with opinions and recommendations.
-
- Confirm Content
- Prices / Formats / Delivery
- Prices
-
All prices are set by our partners and should be exactly the same as those listed on their own websites. We work on a Revenue share basis ensuring that you never pay more than what is offered elsewhere.
Should you find the price cheaper on another platform we recommend you to Contact us as we should be able to match this price. You can Contact us though through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346.
-
- Discounts
-
As we work in close partnership with our Partners from time to time we can secure discounts and assist with negotiations, this is part of our personalised service to you.
Discounts can sometimes be arranged for speedily placed orders; multiple report purchases or Higher License purchases.
To check if a Discount is possible please Contact our experienced team through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346.
-
- Available Currencies
-
Most Market Reports on our platform are listed in USD or EURO based on the wishes of our Partners. To avoid currency fluctuations and potential price differentiations we do not offer the possibility to change the currency online.
Should you wish to pay in a different currency to that advertised online we do accept payments in USD, EURO, GBP and PLN. The price will be calculated based on the relevant exchange rate taken from our National Bank.
To pay in a different above currency to that advertised online please Contact our team and a quotation will be sent within a couple of hours with payment details.
-
- Licenses
-
License options vary from Partner to Partner as is usually based on the number of Users that will benefitting from the report. It is very important that License ordered is not breached as this could have potential negative consequences for you individually or your employer.
If you have questions or need confirmation about the specific license we recommend you to Contact us and a detailed explanation will be provided.
-
- Global Site License
-
The Global Site License is the most comprehensive license available. By selecting this license, the Market Report can be shared with other ‘Allowed Users’ and any other member of staff from the same organisation regardless of geographic location.
It is important to note that this may exclude Parent Companies or Subsidiaries.
If you have questions or need confirmation about the specific license we recommend you to Contact us and a detailed explanation will be provided.
-
- Formats
-
The most common format is PDF, however in certain circumstances data may be present in Excel format or Online, especially in the case of Database or Directories. In addition, for certain higher license options a CD may also be provided.
If you have questions or need clarification about the specific formats we recommend you to Contact us and a detailed explanation will be provided.
-
- Delivery
-
Delivery is fulfilled by our partners directly. Once an order has been placed we inform the partner by sharing the delivery email details given in the order process.
Delivery is usually made within 24 hours of an order being placed, however it may take longer should your order be placed prior to the weekend or if otherwise specified on the Market Report details page. Additionally, if details have been not fully completed in the Order process a delay in delivery is possible.
If a delay in delivery is expected you will be informed about it immediately.
-
- Shipping Charges
-
As most Market Reports are delivered in PDF format we almost never have to add additional Shipping Charges. If, however you are ordering a Higher License service or a specific delivery format (e.g. CD version) charges may apply.
If you are concerned about additional Shipping Charges we recommend you to Contact us to double check.
-
- Prices
- Ordering
- By Credit Card
-
We work in Partnership with PayU to ensure payments are made securely in a fast and effortless way. PayU is the e-payments division of Naspers.
Naspers operates in over 133 International Markets and ranks 3rd Globally in terms of the number of e-commerce customers served.
For more information on PayU please visit: https://www.payu.pl/en/about-us
-
- By Money Transfer
-
If you require an invoice prior to payment, this is possible. To ensure a speedy delivery of the Market Report we require all relevant company details and you agree to maximum payment terms of 30 days from receipt of order.
With our regular clients deliver of the Market Report can be made prior to receiving payment, however in some circumstances we may ask for payment to be received before arranging for the Market Report to be delivered.
-
- By Credit Card
- Security
- Website security
-
We have specifically partnered with leading International companies to protect your privacy by using different technologies and processes to ensure security.
Everything submitted to Scotts International is encrypted via SSL (Secure Socket Layer) and all personal information provided to Scotts International is stored on computer systems with limited access in controlled environments.
-
- Credit Card Security
-
We partner with PayU (https://www.payu.pl/en/about-us) to ensure all credit card payments are made securely in a fast and effortless way.
PayU offers 250+ various payment channels and eWallet services across 4 continents allowing buyers to pay electronically, whether on a computer or a mobile device.
-
- Website security