Estimating Demand for Tractors in India by 2024-2025: Identifying States That Will Rev Up Growth in Demand - ResearchAndMarkets.com

DUBLIN--()--The "Estimating Demand for Tractors in India by 2024-2025: Identifying States That Will Rev Up Growth in Demand" report has been added to ResearchAndMarkets.com's offering.

The industry has kept pace with the growth in the overall economy and has been growing at a CAGR rate of 6-8% on the production basis. Demand for tractors is highly dependent on the agriculture activity in the country and that invariably is dependent on monsoons and the minimum support price (MSP).

From total manufacturing volume 2.2 lakh units in 1996-97 to a peak of 7 lakh units in 2013-14, the tractor industry has witnessed a significant run and the period from 2002-03 till 2013-14 was a kind of bull run for the tractor industry in India. Domestic sales in FY18-19 are estimated to be ~ 7.8 lakh units and roughly 92,000 units of tractors were exported in the same year.

Dominated by M&M that commands over 40% of market share, followed by TAFE, there are over 12 major players. Unlike M&M which has national reach and presence, some of the other smaller players are more of a regional player. A wide array of tractors, ranging from 12 to 75 HP, are available to the Indian farmer. Amongst these, the most favoured tractor power segment among the farmers is 31-40 HP which contributes nearly 50% of the total tractor industry.

In the last few years, a substantial shift has been observed towards the higher HP segment due to increased use of implementation attached to tractors and better products/technologies that are predominantly supplied by all major Indian and global tractor manufacturers at competitive pricing.

Demand for tractors, varies from state to state, and this variance is driven by the size and scale of agricultural activity in any given state and the level of tractor penetration in a given state. Traditionally, Haryana, Punjab and Uttar Pradesh are the main states for the tractor market. In the last few years, new markets for tractors are emerging in the states of Madhya Pradesh, Andhra Pradesh, Tamilnadu, Maharashtra and Gujarat States. In terms of the installed base of tractors, U.P form ~20% of the total installed base of 60 lakhs tractors, followed by Rajasthan at 13%, M.P, Haryana & Gujarat form 8% each in the total installed base.

Agriculture is main source of livelihood for the majority of the population in agrarian states like U.P, Punjab, Haryana, M.P, etc and more than 70 percent of the population directly or indirectly depend on agriculture and allied sectors.

Key Topics Covered:

1. Executive Summary

2. Research Approach & Methodology

3. Tractor Market Landscape

Key OEMs

Key demand pockets

Market classification by capacity ratings

Demand variables

Distribution structures

Replacement cycle

4. Trends in Tractor Sales in India

Year wise production, sales & exports

Month wise production, sales & exports

5. Level of mechanization across major agrarian states in India

Punjab

Haryana

Maharashtra

Rajasthan

Gujarat

M.P

Chhattisgarh

Karnataka

Others

6. State wise

Installed base of Tractors in India

Yearly sales of Tractor in India

7. Tractor Manufacturing Capacity in India

Manufacturing capacity of different OEMs

Manufacturing plants locations

Capacity

Trend in capacity utilization

8. Tractor Market in 2018-19

Market by OEMs

Market by capacity ratings

Less than 30 hp

30-40 hp

40-50 hp

Above 50 hp

Market by States / Regions

Market by states / region and OEMs

Market by New vs Replacement

Market by Domestic Sales Vs Exports

Market by Domestic Vs Imports

9. Benchmarking OEMs

National Market Share

Regional Market Share

HP wise Market Share

Product Portfolio

Exports volume

Sales & Distribution Network

Customer Outreach Strategy

Product Pricing

10. Trend analysis on Rainfall & MSP for Crops

11. Farm Loan Waivers and its Impact on demand for Tractor

12. Scenarios for Forecast

Pessimistic - taking cue from trend line in monsoon and msp

Realistic - good monsoon in next 2 years followed by 1 or 2 years of below avg monsoon & one off MSP hike

Optimistic - continuous 3-4 years of good monsoon backed by MSP hikes

Replacement cycle

Interest rate cycle

13. End Consumer Interviews - Farmers (organized & unorganized), Industry

Personal interviews across different states / regions to find factors that define new purchase or replacement of existing

14. Projected demand for New Tractors by 2025 - Demand side forecast modelling by scenarios

Demand by States / Region

Demand by hp rating

Demand - New Vs Replacement

Market share of OEMs by States / Regions

Market Share of OEMs by hp rating within each states / regions

15. Projected demand for New Tractors by 2025 - Supply side forecasting

16. Industry SWOT & PESTEL Analysis

17. Company Profiles

18. Agriculture profile of key states

For more information about this report visit https://www.researchandmarkets.com/r/7wkopq

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Contacts

ResearchAndMarkets.com
Laura Wood, Senior Press Manager
press@researchandmarkets.com
For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900