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Agricultural Machinery Market in India 2019

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Details

India is an agrarian economy, with over 50% of the population dependent on agriculture for their livelihood. As of 2019, agriculture and its allied sector accounted for ~16% of India's gross domestic product (GDP). The performance of this sector drives the prices and market demand for essential commodities. The accessibility, and quality of agricultural machinery positively impacts productivity and output of the farming sector. Furthermore, the Indian machinery market is expected to introduce Self-Driving Autonomous Tractors, and increase application of innovative technology like Internet of Things (IoT) and Big Data to make agriculture a profitable profession for farmers.

Market Insights

The Indian agricultural machinery market was valued at INR 498.04 Bn in 2018 and is expected to reach INR 901.41 Bn by 2024, expanding at a CAGR of ~10.70% during the 2019-2024 period. The industry experienced a sluggish growth initially, owing to the economic slowdown in the country. However, rise in the purchasing power, availability of better financing options, and growth of contract farming are expected to improve market revenue during the forecast period. The adoption of the sharing economy model and tech-driven start-ups is expected to revolutionize the agriculture machinery market in India.

The United States, Nepal and Sri Lanka account for the major share of exports of agricultural equipment from India. Whereas, India imports more than 70% of agricultural equipment from China.

Market Segment Insights

Based on products, the market can be segmented into tractors, rotavators, power tillers, threshers, and others. The tractor segment dominated the market with a revenue share of ~81% in 2019. Moreover, it is expected to remain the largest segment both in terms of value and growth rate during the forecast period (2019-2024).

Industry players contributing to the market revenue include TAFE, Escorts Limited, and Sonalika Tractors among others. Mahindra & Mahindra leads the market with a market share of ~40.20%, in terms of revenue, in India, and is the largest tractor manufacturer in the world.

Government Initiatives

To promote the application of farm mechanization, the government has set up the Farm Machinery Training and Testing Institutes (FMTTIs) and formulated bodies to quality check agricultural machines and implements. Indian Council for Agriculture and Research (ICAR) and State Farm Corporation of India have been set up to improve the adoption of new technologies in crop production. Other initiatives include setting up financial institutions and providing incentives and subsidies.

Companies covered

Mahindra & Mahindra Limited

Escorts Limited

Force Motor Limited

Greavers Cotton Limited

Shivagrico Implements Limited

VST Tillers Tractors Limited

John Deere India Private Limited

Tractor and Farm Equipment Limited

International Tractor Limited

CNH Industries India Private Limited

READ MORE

Table Of Content

Scope

Chapter 1: Executive summary

1.1. Executive summary

Chapter 2: Socio-economic indicators

2.1. Socio-economic indicators

Chapter 3: Introduction

3.1. Market definition and structure

3.2. Value chain analysis

Chapter 4: Market overview

4.1. Agriculture machinery market in India-overview

4.1.1. Historical market size

4.1.2. Forecast market size

4.2. India agriculture machinery market segmentation

4.2.1. Product-wise sales segmentation

4.2.2. Player-wise segmentation-tractors market sales

4.3. Government initiatives

Chapter 5: Trade analysis

5.1. Export

5.2. Import

Chapter 6: Market influencers

6.1. Market drivers

6.2. Market challengers

Chapter 7: Market trends

7.1. Key market trends

Chapter 8: Competitive landscape

8.1. Mahindra & Mahindra Limited

? Company information

? Business description

? Products/services

? Key people

? Financial snapshot

? Key ratios

? Key financial performance indicators

? Key business segments

? Key geographical segments

Note: Similar information covered for all other public companies. Private companies' data given on best effort basis

8.2. Escorts Limited

8.3. Force Motor Limited

8.4. Greavers Cotton Limited

8.5. Shivagrico Implements Limited

8.6. VST Tillers Tractors Limited

8.7. John Deere India Private Limited

8.8. Tractor and Farm Equipment Limited

8.9. International Tractor Limited

8.10. CNH Industries India Private Limited

Chapter 9: Recent development

9.1. Recent development

Chapter 10: Appendix

10.1. Research methodology

10.2. About Netscribes

10.3. Disclaimer

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Products and Companies

Products

India Agricultural Machinery Market, India Agricultural Machinery market segments, Type-wise segmentation of the India Agricultural Machinery market, Agricultural Machinery Market research report, Agricultural Machinery market, India Agricultural Machinery Market research report, End-user wise segmentation of the India Agricultural Machinery Market, India Agricultural Machinery Market Size, India Agricultural Machinery Market forecast, Agricultural Machinery Market forecast, India Agricultural Machinery Market growth, Agricultural Machinery Market growth, Region-wise Segmentation of the India Agricultural Machinery Market, India Agricultural Machinery Market Revenue, Region-wise Segmentation of India Agricultural Machinery Market, India Agricultural Machinery industry analysis, Agricultural Machinery industry analysis, India Agricultural Machinery Market statistics, India Agricultural Machinery Market segmentation, key trends in the India Agricultural Machinery market, India Agricultural Machinery market major companies, Company profiles of Agricultural Machinery companies in India, Major companies operating in the India Agricultural Machinery Market,India Agricultural Machinery Market, Agricultural Machinery Market, Agricultural Machinery Market Research, India Agricultural Machinery Market Size


Companies

Mahindra & Mahindra Limited

Escorts Limited

Force Motor Limited

Greavers Cotton Limited

Shivagrico Implements Limited

VST Tillers Tractors Limited

John Deere India Private Limited

Tractor and Farm Equipment Limited

International Tractor Limited

CNH Industries India Private Limited

Company Profile

Company Profile Title

India is an agrarian economy, with over 50% of the population dependent on agriculture for their livelihood. As of 2019, agriculture and its allied sector accounted for ~16% of India's gross domestic product (GDP). The performance of this sector drives the prices and market demand for essential commodities. The accessibility, and quality of agricultural machinery positively impacts productivity and output of the farming sector. Furthermore, the Indian machinery market is expected to introduce Self-Driving Autonomous Tractors, and increase application of innovative technology like Internet of Things (IoT) and Big Data to make agriculture a profitable profession for farmers.

Market Insights

The Indian agricultural machinery market was valued at INR 498.04 Bn in 2018 and is expected to reach INR 901.41 Bn by 2024, expanding at a CAGR of ~10.70% during the 2019-2024 period. The industry experienced a sluggish growth initially, owing to the economic slowdown in the country. However, rise in the purchasing power, availability of better financing options, and growth of contract farming are expected to improve market revenue during the forecast period. The adoption of the sharing economy model and tech-driven start-ups is expected to revolutionize the agriculture machinery market in India.

The United States, Nepal and Sri Lanka account for the major share of exports of agricultural equipment from India. Whereas, India imports more than 70% of agricultural equipment from China.

Market Segment Insights

Based on products, the market can be segmented into tractors, rotavators, power tillers, threshers, and others. The tractor segment dominated the market with a revenue share of ~81% in 2019. Moreover, it is expected to remain the largest segment both in terms of value and growth rate during the forecast period (2019-2024).

Industry players contributing to the market revenue include TAFE, Escorts Limited, and Sonalika Tractors among others. Mahindra & Mahindra leads the market with a market share of ~40.20%, in terms of revenue, in India, and is the largest tractor manufacturer in the world.

Government Initiatives

To promote the application of farm mechanization, the government has set up the Farm Machinery Training and Testing Institutes (FMTTIs) and formulated bodies to quality check agricultural machines and implements. Indian Council for Agriculture and Research (ICAR) and State Farm Corporation of India have been set up to improve the adoption of new technologies in crop production. Other initiatives include setting up financial institutions and providing incentives and subsidies.

Companies covered

Mahindra & Mahindra Limited

Escorts Limited

Force Motor Limited

Greavers Cotton Limited

Shivagrico Implements Limited

VST Tillers Tractors Limited

John Deere India Private Limited

Tractor and Farm Equipment Limited

International Tractor Limited

CNH Industries India Private Limited

READ MORE

Scope

Chapter 1: Executive summary

1.1. Executive summary

Chapter 2: Socio-economic indicators

2.1. Socio-economic indicators

Chapter 3: Introduction

3.1. Market definition and structure

3.2. Value chain analysis

Chapter 4: Market overview

4.1. Agriculture machinery market in India-overview

4.1.1. Historical market size

4.1.2. Forecast market size

4.2. India agriculture machinery market segmentation

4.2.1. Product-wise sales segmentation

4.2.2. Player-wise segmentation-tractors market sales

4.3. Government initiatives

Chapter 5: Trade analysis

5.1. Export

5.2. Import

Chapter 6: Market influencers

6.1. Market drivers

6.2. Market challengers

Chapter 7: Market trends

7.1. Key market trends

Chapter 8: Competitive landscape

8.1. Mahindra & Mahindra Limited

? Company information

? Business description

? Products/services

? Key people

? Financial snapshot

? Key ratios

? Key financial performance indicators

? Key business segments

? Key geographical segments

Note: Similar information covered for all other public companies. Private companies' data given on best effort basis

8.2. Escorts Limited

8.3. Force Motor Limited

8.4. Greavers Cotton Limited

8.5. Shivagrico Implements Limited

8.6. VST Tillers Tractors Limited

8.7. John Deere India Private Limited

8.8. Tractor and Farm Equipment Limited

8.9. International Tractor Limited

8.10. CNH Industries India Private Limited

Chapter 9: Recent development

9.1. Recent development

Chapter 10: Appendix

10.1. Research methodology

10.2. About Netscribes

10.3. Disclaimer

To know more information on Purchase by Section, please send a mail to support@kenresearch.com

INQUIRE FOR COVID-19 IMPACT ANALYSIS

Products

India Agricultural Machinery Market, India Agricultural Machinery market segments, Type-wise segmentation of the India Agricultural Machinery market, Agricultural Machinery Market research report, Agricultural Machinery market, India Agricultural Machinery Market research report, End-user wise segmentation of the India Agricultural Machinery Market, India Agricultural Machinery Market Size, India Agricultural Machinery Market forecast, Agricultural Machinery Market forecast, India Agricultural Machinery Market growth, Agricultural Machinery Market growth, Region-wise Segmentation of the India Agricultural Machinery Market, India Agricultural Machinery Market Revenue, Region-wise Segmentation of India Agricultural Machinery Market, India Agricultural Machinery industry analysis, Agricultural Machinery industry analysis, India Agricultural Machinery Market statistics, India Agricultural Machinery Market segmentation, key trends in the India Agricultural Machinery market, India Agricultural Machinery market major companies, Company profiles of Agricultural Machinery companies in India, Major companies operating in the India Agricultural Machinery Market,India Agricultural Machinery Market, Agricultural Machinery Market, Agricultural Machinery Market Research, India Agricultural Machinery Market Size


Companies

Mahindra & Mahindra Limited

Escorts Limited

Force Motor Limited

Greavers Cotton Limited

Shivagrico Implements Limited

VST Tillers Tractors Limited

John Deere India Private Limited

Tractor and Farm Equipment Limited

International Tractor Limited

CNH Industries India Private Limited