Market Research Report
India Tractor Market - Industry Analysis & Forecast 2022-2028
|India Tractor Market - Industry Analysis & Forecast 2022-2028|
Published: March 9, 2022
Arizton Advisory & Intelligence
Content info: 192 Pages
Delivery time: 1-2 business days
In-depth Analysis and Data-driven Insights on the Impact of COVID-19 Included in this India Tractor Market Report
India was the largest agriculture tractor market globally in 2021, with an overall sales volume of 614.5 thousand units. The increase in crop production and tractor sales resulted from favorable monsoon rains in 2019 and 2020, which helped the country to recover from the drought-induced low in 2017 and the COVID-19 pandemic.
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
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
Segmentation by Drive Type
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.
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.
Other Prominent Vendors
THE REPORT INCLUDES:
Table 1 Key Caveats
Table 2 Currency Conversion 2015-2021
Table 3 India Agriculture Tractor Market Exports as Percentage Ratio to Total Exports 2013-2019
Table 4 Land Holding Structures in India, 2020
Table 5 India Tractor Market Production, Exports, and Domestic Sales by Volume 2018-2021
Table 6 Less Than 20 HP Market in India by Zones 2019-2028 (thousand units)
Table 7 20-40 HP Market in India by Zones 2019-2028 (thousand units)
Table 8 41-60 HP Market in India by Zones 2019-2028 (thousand units)
Table 9 61-100 HP Market in India by Zones 2019-2028 (thousand units)