India tractor market is anticipated to grow at an impressive rate of
around 10% over the next five years owing to increase in demand for mechanization
in agriculture & logistics industry. The country’s tractor market stood at around
709 thousand units in the financial year ending March 2020. Strengthening of
financial state of the agriculture industry through loan waivers, other government subsidies and growing
popularity of bank financing will be the key factors responsible for the growth
of tractor market in India over the next five years.
India tractor market is classified based on application type, power
output, drive type, and region. Based on application type, the market is
segmented into agriculture and construction, mining & logistics. Agriculture
sector captivates majority of the country’s tractor market, because of its
all-purpose use like plowing, tilling, planting, etc. The agriculture
application segment is expected to continue witnessing robust growth in coming
years. In terms of engine power output, tractors are
distinguished amongst rated engines of below 40HP and 41HP to 100HP segments. Due to the cost being a major driver of the
sector, tractors with rated power output under 40HP currently dominate the market.
Majority of mechanized farming emanates from Northern and Western parts of the
country, and hence North region
dominates the country’s tractor market, followed by the West region.
Years
considered for this report:
Historical Period: FY 2016 – FY 2019
Base Year: FY 2020
Estimated Year: FY 2021
Forecast Period: FY
2022 - 2026
Objective of the Study:
v To analyse and forecast the market size
of the India Tractor Market, in terms of value and volume.
v To classify
and forecast the India Tractor market based on Application Type, By Power Output, By
Drive type, By Region and By Company.
v
To identify drivers and challenges for the India Tractor
market.
v
To examine competitive developments such as
expansions, new product launches, mergers & acquisitions, etc., in India Tractor
market.
v To identify
and analyse the profile of leading players involved in the the India Tractor
market.
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Mahindra & Mahindra Ltd. holds
the largest share in tractor market, followed by TAFE Ltd., Sonalika Group
(ITL), and Escorts Ltd., which also hold
double-digit shares. Other leading market players include John Deere, CNHI
India Pvt Ltd, Force Motors Ltd., Captain Tractors Pvt. Ltd., Ace Ltd., and Preet
Tractors (P) Ltd..
TechSci Research performed primary
as well as exhaustive secondary research for this study. Initially, TechSci
Research sourced a list of tractor manufacturers in India. Subsequently,
TechSci Research conducted primary research surveys with the identified
companies. While interviewing, the respondents were also enquired about their
competitors. Through this technique, TechSci Research was able to include
vendors and service providers that could not be identified due to the
limitations of secondary research. TechSci Research analysed product offerings,
application, distribution channel and regional presence of all tractor manufacturers
across India.
TechSci Research calculated the market size of India Tractor market
using a top down approach, where data for various end-user segments were
recorded and forecast for the future years. TechSci Research sourced these
values from the industry experts and company representatives and externally
validated through analysing historical data of these product types and
applications for getting an appropriate, overall market size. Various secondary
sources such as company websites, news articles, press releases, company annual
reports, investor presentations and financial reports were also studied by
TechSci Research.
Key Target Audience:
v India tractor manufacturers, suppliers/
dealers and other stakeholders
v Government bodies such as regulating
authorities and policy makers
v Organizations, forums and alliances
related to India Tractor market
v Market research and consulting firms
The study
is useful in providing answers to several critical questions that are important
for industry stakeholders such as tractor manufacturers, distributors and
dealers, customers, and policy makers. The study would also help them to
target the growing segments over the coming years (next two to five years),
thereby aiding the stakeholders in taking investment decisions and facilitating
their expansion.
Report Scope:
In this report, India tractor market has
been segmented into following categories, in addition to the industry trends
which have also been detailed below:
v
Market, by Application Type:
Ø Agriculture Tractor
Ø Construction,
Mining & Logistics
v Market,
By Power Output:
Ø Below
40HP
Ø 41HP to 100HP
v Market,
By Drive Type:
Ø 2-Wheel
Drive
Ø 4-Wheel Drive
v Market,
By Region:
Ø North
Ø East
Ø West
Ø South
Competitive
Landscape
Company Profiles: Detailed analysis of the major companies
present in India Tractor Market
Available Customizations:
With the given market data, TechSci Research offers
customizations according to a company’s specific needs. The following
customization options are available for the report:
Company Information
v Detailed analysis and profiling of
additional market players (up to ten).
Profit Margin Analysis
v Profit margin analysis in case of direct
and indirect sales channel.
In case you don’t find what you are looking for, please get in touch with our custom research team at [email protected]