DUBLIN--(BUSINESS WIRE)--Research and Markets (http://www.researchandmarkets.com/research/p4g45t/agricultural) has announced the addition of the "Agricultural Machinery Market in India 2014-2018" report to their offering.
The Agricultural Machinery market in India to grow at a CAGR of 10.89% over the period 2013-2018
Agricultural machineries are those that are used for various agricultural activities such as sowing, reaping, and application of fertilizers. Some of the key agricultural machineries are tractors, power tillers, rotavators, and threshers.
One of the major trends in this market is the shift toward equipment with higher horsepower. The shift toward increased mechanization such as the use of rotovators has increased consumption of higher HP tractors because they can use rotovators more effectively.
According to the report, one key factor driving market growth is an increase in population, which has led to increased demand for food and related products over the past few years. The India government is focused on increasing food productivity to meet the needs of a growing population. This has increased the demand for agricultural machinery equipped with modern technology.
Further, the report states that one of the major challenges in the market is the lack of new workforce. Revenue generated in the Agriculture sector lacks stability. Consequently, the youth are abstaining from working in this sector.
The revenue generated from the Agricultural Machinery market in India is calculated from the overall revenue generated by the four sub-segments of the market:
- Power Tiller
- Mahindra & Mahindra
- Tractors and Farm Equipment (TAFE)
- VST Tillers Tractors
Key Market Drivers / Challenges / Drivers
- Growing Population
- Lack of New Workforce
- Shift toward Equipment with Higher Power
Key Questions Answered in this Report
- What will the market size be in 2018 and what will the growth rate be?
- What are the key Market Trends?
- What is driving this market?
- What are the challenges to market growth?
- Who are the key vendors in this market space?
- What are the market opportunities and threats faced by the key vendors?
- What are the strengths and weaknesses of the key vendors
For more information visit http://www.researchandmarkets.com/research/p4g45t/agricultural