Speak directly to the analyst to clarify any post sales queries you may have.
The shipments are expected to grow at a CAGR of 5.78%
MARKET GROWTH ENABLERS
- Augmented Financial Support to Farmers Through Loans And Subsidies
- Growth In Agricultural Productivity and Exports
- Migration To Cities Leading to Labor Shortage
SEGMENTATION ANALYSIS
Tractors in the power range of 41-60 HP are likely to be the largest contributors to the growth of the tractors industry in India. The agriculture tractor market in India is dominated by 2WD tractors, which account for approximately 99% of the overall market.
Segmentation by Horsepower
- Less Than 20 HP
- 20-40 HP
- 41-60 HP
- 61-100 HP
- Above 100 HP
Segmentation by Drive Type
- 2-Wheel-Drive
- 4-Wheel-Drive
GEOGRAPHICAL ANALYSIS
In terms of zones, the northern and western states have reportedly shown a higher demand for agriculture tractors than the southern and eastern parts of the country. Also, the states in the north zone of the country have a higher level of mechanization than any other part of the country. Hence, the market can be considered to move toward saturation in the north zone. Therefore, the strong demand for agriculture tractors is expected to come from the southern part of the country.
VENDOR ANALYSIS
In terms of units sold, Mahindra and TAFE were the two largest tractor manufacturers in 2020. Mahindra was the highest-selling tractor in the country, with more than 300 thousand tractors sold in 2020.
Key Vendors
- Mahindra Tractors
- TAFE
- Escorts
- International Tractors (Sonalika)
- Deere & Company
- CNH Industrial
Other Prominent Vendors
- SDF
- Kubota
- Action Construction Equipment (ACE)
- Indo Farm
- Captain Tractors
- Force Motors
- VST Tillers Tractors
- Preet Group
- Standard Corp.
- Yanmar
- AGCO
THE REPORT INCLUDES:
1. The analysis of the India Tractor Market provides market size and growth rate for the forecast period 2022-2028.
2. It offers comprehensive insights into current industry trends, trend forecast, and growth drivers about the India Tractor Market.
3. The report provides the latest analysis of market share, growth drivers, challenges, and investment opportunities.
4. It offers a complete overview of market segments and the regional outlook of the India Tractor Market.
5. The report offers a detailed overview of the vendor landscape, competitive analysis, and critical market strategies to gain competitive advantage.
Table of Contents
Companies Mentioned
- Mahindra Tractors
- TAFE
- Escorts
- International Tractors (Sonalika)
- Deere & Company
- CNH Industrial
- SDF
- Kubota
- Action Construction Equipment (ACE)
- Indo Farm
- Captain Tractors
- Force Motors
- VST Tillers Tractors
- Preet Group
- Standard Corp.
- Yanmar
- AGCO
Methodology
Our research comprises a mix of primary and secondary research. The secondary research sources that are typically referred to include, but are not limited to, company websites, annual reports, financial reports, company pipeline charts, broker reports, investor presentations and SEC filings, journals and conferences, internal proprietary databases, news articles, press releases, and webcasts specific to the companies operating in any given market.
Primary research involves email interactions with the industry participants across major geographies. The participants who typically take part in such a process include, but are not limited to, CEOs, VPs, business development managers, market intelligence managers, and national sales managers. We primarily rely on internal research work and internal databases that we have populated over the years. We cross-verify our secondary research findings with the primary respondents participating in the study.
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