DUBLIN--(BUSINESS WIRE)--The "India Agriculture Tractors Market-Size, Trends, Competitive Analysis and Forecasts (2019-2024)" report has been added to ResearchAndMarkets.com's offering.
The agriculture tractor market in India is expected to grow at a CAGR of 6.7% during 2019-2024.
India is transitioning from traditional labor-intensive farm production to more mechanized agriculture. The Government is pushing for farm mechanization and increasing the use of agricultural machinery to boost agricultural production and increasing domestic consumption in rural areas. Boosted by a series of policy incentives to support the agricultural machinery sector and subsidies for the purchase of farm machinery, the agricultural tractor industry in India witnessed rapid development in the past few years.
Demand Driving Factors
The agriculture tractor market is affected by various macro factors such as the overall level of economic development, migration of rural labor, land utilization, agricultural production, food demand, agricultural machinery industry, trade, and manufacturing capacity and testing. All these factors have created a favorable market scenario for the agriculture tractor market in India. Besides both the central and local governments allocate funds to subsidize farmers' purchase of agricultural machinery. The structural adjustment of the agriculture sector and shifting priorities from traditional grain production to agricultural industrialization is another demand driving factor for agriculture tractor market.
The fragmented lands, diverse machinery types and facilities, poor utilization rate, higher fuel consumption and lack of knowledge are the restraining factors of the market. Though the adoption of farm mechanization is increasing in India, it is mostly region-specific. Low adoption rate in farm mechanization especially in hilly and sloppy land is another restraining factor for the growth in the tractor market. Moreover, the decreasing trend in operational land holdings is obstructing the growth of agricultural mechanization and thus tractor market. Lack of knowledge of machines being used and required maintenance, lack of information about bank credit and small landholdings are some of the factors that are responsible for slow growth of agriculture tractor market in India.
The agriculture tractor industry fulfills the country's demand for agricultural tractors. India's exports of agricultural tractors experienced enormous growth during the last 2 decades. The organized agricultural tractor industry functions in an ordered dealership network. The facility of after-sales service through the dealers determines reliability towards the company and the machines. Hence strengthening the distributor network is the major strategy adopted by manufacturers. Investment in R&D facilities to upgrade products as per market demand and process technologies is another major strategy adopted by major players in the market. The Indian tractor market is fragmented and dominated by local players, namely Sonalika, TAFE, Mahindra & Mahindra & Escorts. Key international tractor manufacturers, such as John Deere and CNH account for a decent market share.
- Market trends since 2015 and five-year forecasts of market growth
- Detailed analysis of the micro and macro elements influencing demand trends
- Identifying opportunity spaces across segments
- Supply & demand side trend and analysis
- Price trend analysis, investment prospects and competition pattern
- Insights on the growth potential of the market
- Detailed analysis of major producers covering financial investments & strategies adopted
- Competitive landscape of the industry
Key Topics Covered:
1.1 Research Methodology
1.2 Scope of the Study
3. Industry Dynamics
3.4 Porter's Five Forces Analysis
3.5 Future Trends in the Industry
3.6 Value Chain Analysis
3.7 Industry Policies & Regulations
3.8 Market Innovations
4. Market Size and Forecast
4.1 Market Share, By Types
4.1.1 Utility Tractors
4.1.2 Row crop tractors
4.1.3 Garden Tractor
4.1.4 Orchard Tractor
4.1.4 Rotary Tillers
4.2 Market Share, By Horse Power
4.2.1 Below 40 HP
4.2.2 40 HP-100 HP
4.2.3 Above 100 HP
4.3 Market Share, By Wheel Type
4.3.1 Two Wheel
4.3.2 Four Wheel
5. Competitive Analysis
5.1 Market Share Analysis
5.2 Growth Strategies of leading players
5.3 Investment and Development Prospects
5.3.1 Investment in past five years
5.3.2 Investment Opportunities
5.4 Competition Pattern
5.4.1 Concentration Ratio
5.4.2 Industry Competition
5.5 Price Trend Analysis
5.5.1 Product Classifications and Their Prices
5.5.2 Factors Influencing Prices
6. Company Profiles
6.1 AGCO Corp.
6.2 Claas KGaA mbH
6.3 CNH Industrial N.V
6.4 Deere and Company
6.6 Escorts Limited
6.7 Kubota Corporation
6.8 Kuhn Group
6.9 Mahindra & Mahindra Ltd.
6.10 Tractors and Farm Equipment Ltd.
6.11 Yanmar Company Limited
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