Press Release

India Agriculture Engines Market to Continue its Growth Trajectory through 2025

Growing farm mechanization rate and increasing investments by existing farm equipment manufacturers to boost demand for agriculture engines in India

According to TechSci Research report India Agriculture Engines Market By Fuel Type, By Power, By End Use, By Region, Competition, Forecast & Opportunities, 2025, India agriculture engines market is expected to grow on account of increasing farm mechanization and several government initiatives to increase the income level of farmers in India. Moreover, growing investments by reputed farm equipment as well as agricultural engine manufacturers in India is anticipated to supplement the demand for agricultural engines in the country during the forecast period. India agriculture engines market can be segmented based on fuel type, power, end use and region. India, being an agriculture dominant country, requires a huge number of agriculture machinery to foster crop production. Growing level of farm mechanization in the country is driving the growth of the country’s agricultural machinery market. Additionally, tractors are the first and foremost essential farming equipment, which support the growth of farm mechanization in India, thereby fueling growth in the market. Moreover, subsidies provided by the Indian government for purchasing tractors has led to the rise in tractor sales in the Indian market, resulting in high demand for tractor engines in India agriculture engines market.

Browse 27 market data Figures and Tables spread through 70 Pages and an in-depth TOC on "India Agriculture Engines Market"

In terms of fuel type, the market can be segmented into petrol and diesel. The diesel engine segment accounted for the largest market share in volume terms in 2019 on account of availability of high engine power, which is necessary to plough the field and perform other tasks such as reaping, sowing, threshing, etc., coupled with lower price and easy availability of diesel as a fuel. In terms of regional analysis, the market has been segmented into North, East, West and South. Among these, West region grabbed the largest share in India agriculture engines market in 2019 due to presence of several prominent agriculture engines manufacturers and reputed players in the country’s agriculture machinery market like John Deere, Mahindra & Mahindra, New Holland, among others.

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Mahindra & Mahindra Limited, Simpson & Company Limited, Kirloskar Oil Engines Limited, Greaves Cotton Limited and other players such as John Deere India Private Limited, Toyota Kirloskar Motor Pvt Ltd, Escorts Limited, International Tractors Limited, etc., are the major players operating in India agriculture engines market. Increase in the production capacity of domestic agriculture equipment and machinery manufacturing players, diversification of existing product portfolio and introduction of new agriculture machinery models are also anticipated to fuel the demand for agriculture engines in India agriculture engines market.

However, the market is currently facing strong economic slowdown that has been triggered due to the outbreak of novel coronavirus across the country, that has crippled various other sectors such as agriculture, industrial, etc. Moreover, mandate to introduce BS IV/Euro IV compliant engines for curbing pollution rate in Indian agriculture industry from November 2020 onwards might also hamper the growth of India agriculture engines market. “Growing farm mechanization rate, rising per capita income levels and increasing in number of technically aware farmers is anticipated to overshadow the effects of current economic slowdown and augment demand for agriculture engines in India in the long run.”, said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

India Agriculture Engines Market By Fuel Type, By Power, By End Use, By Region, Competition, Forecast & Opportunities, 2025 has evaluated the future growth potential of India agriculture engines market and provides statistics & information on market size, structure and future market growth. The report intends to provide latest market intelligence and help decision makers to take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities in India agriculture engines market.

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