The India tractor market size was $7,540.8 million in 2020 and is expected to reach $12,700.8 million by 2030, registering a CAGR of 5.1% from 2021 to 2030.
Tractors are utilized as agricultural vehicles to provide power for several agricultural activities such as harrowing, tilling, plowing, and planting. Tractors are available in various power ranges, including less than 20 HP to more than 60 HP. These are used in applications such as row crop, orchard, and gardening.
Increase in mechanization in agricultural activities is a key factor driving the growth of the Indian tractor market. In addition, surge in population propels the need for crop cultivation. Thus, to sustain the demand for agricultural produce, farmers are switching toward the use of tractor on agricultural and logistics applications globally, which significantly contributes toward the growth of the India tractor market.
Rise in demand for mechanization in logistics and agriculture industry drives the growth of the India tractor market. In addition, increase in need of agricultural equipment such as tractor in India, boosts the growth of the India tractor market.
However, lack of information about efficient tractor among farmers in India, is anticipated to restraints for the growth of the India tractor market. Furthermore, government initiative for assisting and providing subsidy to farmers with low interest rates, is anticipated to provide lucrative opportunities for the growth of the India tractor market. For instance, many government initiatives such as PM Kisan Tractor Yojana, and Telangana Yantra Laxmi Scheme in India are providing 20% to 50% subsidy on tractors to farmers.
The India tractor market is segmented into power output, drive type, application, and region. Depending on power output, the market is categorized into less than 30 HP, 30-50 HP, 50-100 HP, and more than 100 HP. The 30-50 HP segment dominated the market in 2020. By drive type, the market is bifurcated into 2-wheel drive and 4-wheel drive. The 2-wheel drive segment dominated the market in 2020. On the basis of application, it is divided into agriculture, construction, and mining & logistics. The agriculture segment dominated the market in 2020.
Region wise, the India tractor market is analyzed across North India, South India, West India, East India, and Rest of India. West India dominated the market in 2020.
Key companies profiled in the report include Mahindra & Mahindra Ltd., Escorts Limited, CNH Industrial N.V., Tractors and Farm Equipment Ltd, Sonalika International Tractors Ltd, Deere & Company (John Deere India Private Limited, HMT Limited, Force Motors Limited, and Standard Corporation India Limited.
INDIA TRACTOR MARKET SEGMENTS
Tractors are utilized as agricultural vehicles to provide power for several agricultural activities such as harrowing, tilling, plowing, and planting. Tractors are available in various power ranges, including less than 20 HP to more than 60 HP. These are used in applications such as row crop, orchard, and gardening.
Increase in mechanization in agricultural activities is a key factor driving the growth of the Indian tractor market. In addition, surge in population propels the need for crop cultivation. Thus, to sustain the demand for agricultural produce, farmers are switching toward the use of tractor on agricultural and logistics applications globally, which significantly contributes toward the growth of the India tractor market.
Rise in demand for mechanization in logistics and agriculture industry drives the growth of the India tractor market. In addition, increase in need of agricultural equipment such as tractor in India, boosts the growth of the India tractor market.
However, lack of information about efficient tractor among farmers in India, is anticipated to restraints for the growth of the India tractor market. Furthermore, government initiative for assisting and providing subsidy to farmers with low interest rates, is anticipated to provide lucrative opportunities for the growth of the India tractor market. For instance, many government initiatives such as PM Kisan Tractor Yojana, and Telangana Yantra Laxmi Scheme in India are providing 20% to 50% subsidy on tractors to farmers.
The India tractor market is segmented into power output, drive type, application, and region. Depending on power output, the market is categorized into less than 30 HP, 30-50 HP, 50-100 HP, and more than 100 HP. The 30-50 HP segment dominated the market in 2020. By drive type, the market is bifurcated into 2-wheel drive and 4-wheel drive. The 2-wheel drive segment dominated the market in 2020. On the basis of application, it is divided into agriculture, construction, and mining & logistics. The agriculture segment dominated the market in 2020.
Region wise, the India tractor market is analyzed across North India, South India, West India, East India, and Rest of India. West India dominated the market in 2020.
Key companies profiled in the report include Mahindra & Mahindra Ltd., Escorts Limited, CNH Industrial N.V., Tractors and Farm Equipment Ltd, Sonalika International Tractors Ltd, Deere & Company (John Deere India Private Limited, HMT Limited, Force Motors Limited, and Standard Corporation India Limited.
COMPETITION ANALYSIS
KEY PLAYERS profiled in this report include The Mahindra & Mahindra Ltd, Escorts Limited, CNH Industrial N.V., Tractors and Farm Equipment Ltd, Sonalika International Tractors Limited, Deere & Company (John Deere India Private Limited), HMT Limited, Force Motors Limited, and Standard Corporation India Limited.
KEY BENEFITS FOR STAKEHOLDERS
- The report provides an extensive analysis of the current and emerging India tractor market trends and dynamics.
- In-depth analysis of the market is conducted by India tractor market estimations for the key market segments between 2020 and 2030.
- Extensive analysis of the market is conducted by following key product positioning and monitoring of the top competitors within the market framework.
- A comprehensive India tractor market opportunity analysis of all the countries is also provided in the report.
- The India tractor market forecast analysis from 2021 to 2030 is included in the report.
- The key players within the market are profiled in this report and their strategies are analyzed thoroughly, which help understand the competitive outlook of the industry.
INDIA TRACTOR MARKET SEGMENTS
By POWER OUTPUT
- Less Than 30 HP
- 30-50 HP
- 51-100 HP
- More Than 100 HP
By DRIVE TYPE
- 2-wheel Drive
- 4-wheel Drive
By APPLICATION
- Agriculture
- Construction, Mining & Logistics
By REGION
- North India
- South India
- West India
- East India
- Rest of India
KEY PLAYERS
- Mahindra & Mahindra Ltd.
- Escorts Limited
- CNH Industrial N.V.
- Tractors and Farm Equipment Ltd
- Sonalika International Tractors Limited
- Deere & Company (John Deere India Private Limited)
- HMT Limited
- Force Motors Limited
- V.S. T Tillers and Tractors Ltd
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Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: INDIA TRACTOR MARKET, BY POWER OUTPUT
CHAPTER 5: INDIA TRACTOR MARKET, BY DRIVE TYPE
CHAPTER 6: INDIA TRACTOR MARKET, BY APPLICATION
CHAPTER 7: INDIA TRACTOR MARKET, BY COUNTRY
CHAPTER 8: COMPANY PROFILES
List of Tables
List of Figures
Companies Mentioned
- Mahindra & Mahindra Ltd.
- Escorts Limited
- CNH Industrial N.V.
- Tractors and Farm Equipment Ltd
- Sonalika International Tractors Ltd
- Deere & Company (John Deere India Private Limited
- HMT Limited
- Force Motors Limited
- Standard Corporation India Limited
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 263 |
| Published | October 2021 |
| Forecast Period | 2020 - 2030 |
| Estimated Market Value ( USD | $ 7723.32 million |
| Forecasted Market Value ( USD | $ 12700.8 million |
| Regions Covered | India |
| No. of Companies Mentioned | 9 |
