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Market Research Report
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1063831

India Tractor Market - Industry Analysis & Forecast 2022-2028

Published: | Arizton Advisory & Intelligence | 192 Pages | Delivery time: 1-2 business days

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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
  • Description
  • Table of Contents
  • List of Tables

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

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.
Product Code: ARZ220226

TABLE OF CONTENTS

1 Research Methodology

2 Research Objectives

3 Research Process

4 Scope & Coverage

  • 4.1 Market Definition
    • 4.1.1 Inclusions
    • 4.1.2 Exclusions
    • 4.1.3 Market Estimation Caveats
  • 4.2 Base Year
  • 4.3 Scope of The Study

5 Report Assumptions & Caveats

  • 5.1 Key Caveats
  • 5.2 Currency Conversion
  • 5.3 Market Derivation

6 Market at a Glance

7 Introduction

  • 7.1 Overview
  • 7.2 India's Agricultural Incentives
  • 7.3 Farming Scenario of India
  • 7.4 Advantage India
  • 7.5 Import and Export Analysis
  • 7.6 Subsidy to Farmers in India for Selected Machinery
  • 7.7 Cropping Intensity and Land Holding Structures
  • 7.8 Role of Tractors in The Indian Agriculture Sector
  • 7.9 Technological Advancements
  • 7.10 Impact of Covid-19 On the Indian Agriculture Sector

8 Market Landscape

  • 8.1 Market Overview
  • 8.2 Market Size & Forecast
  • 8.3 Five Forces Analysis
    • 8.3.1 Threat of New Entrants
    • 8.3.2 Bargaining Power of Suppliers
    • 8.3.3 Bargaining Power of Buyers
    • 8.3.4 Threat of Substitutes
    • 8.3.5 Competitive Rivalry

9 Horsepower Segmentation

  • 9.1 Market Snapshot & Growth Engine
  • 9.2 Market Overview
  • 9.3 Less Than 20 HP
    • 9.3.1 Market Overview
    • 9.3.2 Market Size & Forecast
    • 9.3.3 Less Than 20 HP Tractor Market in India by Zones
  • 9.4 20-40 HP
    • 9.4.1 Market Overview
    • 9.4.2 Market Size & Forecast
    • 9.4.3 20-40 HP Tractor Market in India by Zones
  • 9.5 41-60 HP
    • 9.5.1 Market Overview
    • 9.5.2 Market Size & Forecast
    • 9.5.3 41-60 HP Tractor Market in India by Zones
  • 9.6 61-100 HP
    • 9.6.1 Market Overview
    • 9.6.2 Market Size & Forecast
    • 9.6.3 61-100 HP Tractor Market in India by Zones
  • 9.7 Above 100 HP
    • 9.7.1 Market Overview
    • 9.7.2 Market Size & Forecast
    • 9.7.3 Above 100 HP Tractor Market in India by Zones

10 Drive Type

  • 10.1 Market Snapshot & Growth Engine
  • 10.2 Market Overview
  • 10.3 2-Wheel-Drive
    • 10.3.1 Market Overview
    • 10.3.2 Market Size & Forecast
    • 10.3.3 2 Wd Tractor Market in India by Zones
  • 10.4 4-Wheel-Drive
    • 10.4.1 Market Overview
    • 10.4.2 Market Size & Forecast
    • 10.4.3 4 Wd Tractor Market in India by Zones

11 Zone Segmentation

  • 11.1 Market Snapshot & Growth Engine
  • 11.2 Market Overview
  • 11.3 North Zone
    • 11.3.1 Market Overview
    • 11.3.2 Market Size & Forecast
    • 11.3.3 North Zone Tractor Market by HP
    • 11.3.4 North Zone Tractor Market by Wheel Drive
  • 11.4 South Zone
    • 11.4.1 Market Overview
    • 11.4.2 Market Size & Forecast
    • 11.4.3 South Zone Tractor Market by HP
    • 11.4.4 South Zone Tractor Market by Wheel Drive
  • 11.5 West Zone
    • 11.5.1 Market Overview
    • 11.5.2 Market Size & Forecast
    • 11.5.3 West Zone Tractor Market by HP
    • 11.5.4 West Zone Tractor Market by Wheel Drive
  • 11.6 East Zone
    • 11.6.1 Market Overview
    • 11.6.2 Market Size & Forecast
    • 11.6.3 East Zone Tractor Market by Hp
    • 11.6.4 East Zone Tractor Market by Wheel Drive

12 Market Opportunities & Trends

  • 12.1 Increasing Focus on Remote Monitoring Technology in Tractors
    • 12.1.1 Self-Driving Tractors
    • 12.1.2 GPS Technology
    • 12.1.3 Growing Demand for Autonomous Tractors
    • 12.1.4 Alternate Fuel Based Tractors
  • 12.2 Growing Farm Mechanization
    • 12.2.1 Indian Government Initiatives to Promote Farm Mechanization
  • 12.3 Increasing Adoption of Precision Farming

13 Market Growth Enablers

  • 13.1 Augmented Financial Support to Farmers Through Loans and Subsidies
  • 13.2 Growth in Agricultural Productivity and Exports
    • 13.2.1 Agricultural Exports
  • 13.3 Migration to Cities Leading to Labor Shortage
    • 13.3.1 Major Shortage of Labor in The Agriculture Sector
    • 13.3.2 Increased Labor Wages
  • 13.4 Socio-Demographic Changes in India

14 Market Restraints

  • 14.1 Lack of Awareness of The Latest Technologies in Agriculture
    • 14.1.1 Low Levels of Education Among Farmers
    • 14.1.2 Resource Scarcity of Small and Medium Farmers
  • 14.2 Swelling Demand for Used and Rental Tractors
  • 14.3 Marginal and Fragmented Agricultural Farmlands

15 Competitive Landscape

  • 15.1 Competition Overview
    • 15.1.1 Brand Loyalty
    • 15.1.2 Sales and Exports

16 Key Company Profiles

  • 16.1 MAHINDRA
    • 16.1.1 Business Overview
    • 16.1.2 Mahindra in The Agriculture Tractor Market
    • 16.1.3 Product Offerings
    • 16.1.4 Key Strategies
    • 16.1.5 Key Strengths
    • 16.1.6 Key Opportunities
  • 16.2 TAFE
    • 16.2.1 Business Overview
    • 16.2.2 TAFE In the Agriculture Tractor Market
    • 16.2.3 Product Offerings
    • 16.2.4 Key Strategies
    • 16.2.5 Key Strengths
    • 16.2.6 Key Opportunities
  • 16.3 ESCORTS
    • 16.3.1 Business Overview
    • 16.3.2 Escorts in The Agriculture Tractor Market
    • 16.3.3 Product Offerings
    • 16.3.4 Key Strategies
    • 16.3.5 Key Strengths
    • 16.3.6 Key Opportunities
  • 16.4 INTERNATIONAL TRACTORS LTD. (SONALIKA GROUP)
    • 16.4.1 Business Overview
    • 16.4.2 International Tractors in The Agriculture Tractor Market
    • 16.4.3 Product Offerings
    • 16.4.4 Key Strategies
    • 16.4.5 Key Strengths
    • 16.4.6 Key Opportunities
  • 16.5 DEERE & COMPANY
    • 16.5.1 Business Overview
    • 16.5.2 John Deere in The Agriculture Tractor Market
    • 16.5.3 Product Offerings
    • 16.5.4 Key Strategies
    • 16.5.5 Key Strengths
    • 16.5.6 Key Opportunities
  • 16.6 CNH INDUSTRIAL
    • 16.6.1 Business Overview
    • 16.6.2 CNH Industrial in The Agriculture Tractor Market
    • 16.6.3 Product Offerings
    • 16.6.4 Key Strategies
    • 16.6.5 Key Strengths
    • 16.6.6 Key Opportunities

17 Other Prominent Vendors

  • 17.1 SDF
    • 17.1.1 Business Overview
    • 17.1.2 Product Offerings
  • 17.2 KUBOTA
    • 17.2.1 Business Overview
    • 17.2.2 Product Offerings
  • 17.3 ACE
    • 17.3.1 Business Overview
    • 17.3.2 Product Offerings
  • 17.4 INDO FARM
    • 17.4.1 Business Overview
    • 17.4.2 Product Offerings
  • 17.5 CAPTAIN TRACTORS
    • 17.5.1 Business Overview
    • 17.5.2 Product Offerings
  • 17.6 FORCE MOTORS
    • 17.6.1 Business Overview
    • 17.6.2 Product Offerings
  • 17.7 VST TILLERS TRACTORS
    • 17.7.1 Business Overview
    • 17.7.2 Product Offerings
  • 17.8 PREET GROUP
    • 17.8.1 Business Overview
    • 17.8.2 Product Offerings
  • 17.9 STANDARD CORP.
    • 17.9.1 Business Overview
    • 17.9.2 Product Offerings
  • 17.10 YANMAR
    • 17.10.1 Business Overview
    • 17.10.2 Product Offerings
  • 17.11 AGCO
    • 17.11.1 Business Overview
    • 17.11.2 Product Offerings

18 Report Summary

  • 18.1 Key Takeaways
  • 18.2 Strategic Recommendations

19 Quantitative Summary

  • 19.1 Market by Horsepower
  • 19.2 Market by Drive Type
  • 19.3 Market by Zones

20 Appendix

  • 20.1 Abbreviations

LIST OF EXHIBITS

  • Exhibit 1 Segmentation of India Agriculture Tractor Market
  • Exhibit 2 Market Size Calculation Approach 2021
  • Exhibit 3 Indian Economy Overview
  • Exhibit 4 India: Crop Production as Ratio to World Production, 2020
  • Exhibit 5 Growth Opportunities in India
  • Exhibit 6 India - Imports and Exports of Tractors 2019
  • Exhibit 7 India Agriculture Tractor Historical Exports Data 2006-2021 (units)
  • Exhibit 8 India Agriculture Tractor Top Export Destinations 2019 (% share)
  • Exhibit 9 Indian Tractor Market Snapshot, 2021
  • Exhibit 10 Technological Developments in Tractors
  • Exhibit 11 COVID-19 Impact on the Indian Tractor Market
  • Exhibit 12 Sales of Agriculture Tractors by Horsepower, 2021
  • Exhibit 13 Agriculture Tractor Market in India by Volume 2019-2028 (Thousand Units)
  • Exhibit 14 Five Forces Analysis 2021
  • Exhibit 15 Incremental Growth by Horsepower 2021 & 2028
  • Exhibit 16 Agriculture Tractor Market in India by Horsepower 2019-2028 (Thousand Units)
  • Exhibit 17 India Agriculture Tractor Market, Segmentation by Horsepower 2021 & 2028 (% Share)
  • Exhibit 18 Less Than 20 HP Agriculture Tractor Market in India 2019-2028 (Thousand Units)
  • Exhibit 19 Less Than 20 HP Market in India by Zones 2019-2028 (% Share)
  • Exhibit 20 20-40 HP Agriculture Tractor Market in India 2019-2028 (Thousand Units)
  • Exhibit 21 20-40 HP Market in India by Zones 2019-2028 (% Share)
  • Exhibit 22 41-60 HP Agriculture Tractor Market in India 2019-2028 (Thousand Units)
  • Exhibit 23 41-60 HP Market in India by Zones 2019-2028 (% Share)
  • Exhibit 24 61-100 HP Agriculture Tractor Market in India 2019-2028 (Thousand Units)
  • Exhibit 25 61-100 HP Market in India by Zones 2019-2028 (% Share)
  • Exhibit 26 Above 100 HP Agriculture Tractor Market in India 2019-2028 (Thousand Units)
  • Exhibit 27 Above 100 HP Tractor Market in India by Zones 2019-2028 (% Share)
  • Exhibit 28 Incremental Growth by Drive Type 2021 & 2028
  • Exhibit 29 Agriculture Tractor Market in India by Drive Type 2021 (% Share)
  • Exhibit 30 2WD Agriculture Tractor Market in India 2019-2028 (Thousand Units)
  • Exhibit 31 2-Wheel-Drive Tractor Market in India by Zones 2019-2028 (% Share)
  • Exhibit 32 4WD Agriculture Tractor Market in India 2019-2028 (Thousand Units)
  • Exhibit 33 4-Wheel-Drive Tractor Market in India by Zones 2019-2028 (% Share)
  • Exhibit 34 Incremental Growth by Zone 2021 & 2028
  • Exhibit 35 Agriculture Tractor Market in India by Zone 2019-2028 (Thousand Units)
  • Exhibit 36 North Zone Indian Agriculture Tractor Market in the North 2019-2028 (Thousand Units)
  • Exhibit 37 South Zone Indian Agriculture Tractor Market 2019-2028 (Thousand Units)
  • Exhibit 38 West Zone Indian Agriculture Tractor Market 2019-2028 (Thousand Units)
  • Exhibit 39 East Zone Indian Agriculture Tractor Market in the East 2019-2028 (Thousand Units)
  • Exhibit 40 Impact of Increasing Focus on Remote Monitoring Technology in Tractors
  • Exhibit 41 Impact of Growing Farm Mechanization
  • Exhibit 42 Impact of Increasing Adoption of Precision Farming
  • Exhibit 43 Impact of Augmented Financial Support to Farmers Through Loans and Subsidies
  • Exhibit 44 Impact of Growth in Agricultural Productivity and Exports
  • Exhibit 45 India: Agricultural Exports 2020
  • Exhibit 46 Impact of Migration to Cities Leading to Labor Shortage
  • Exhibit 47 Total Workforce and Percentage of Total Workforce Engaged in Agriculture (1995-2030)
  • Exhibit 48 India: Increase in Wages of Male and Female Laborers 2000-2020 (%)
  • Exhibit 49 Impact of Socio-Demographic Changes in India
  • Exhibit 50 Indian Farmer and Agriculture Workforce Age Distribution, 2020
  • Exhibit 51 Impact of Lack of Awareness of the Latest Technologies in Agriculture
  • Exhibit 52 Impact of Swelling Demand for Used and Rental Tractors
  • Exhibit 53 Impact of Marginal and Fragmented Agricultural Farmlands
  • Exhibit 54 Indian Agriculture Tractor Market by OEMs (Units Sold %) 2021
  • Exhibit 55 Indian Agriculture Tractor Market by OEMs (Units Sold in Thousands) 2021
  • Exhibit 56 Total Share by Segments, 2020 (%)

LIST OF TABLES

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)

  • Table 10 Above 100 HP Tractor Market in India by Zones 2019-2028 (thousand units)
  • Table 11 2-Wheel-Drive Tractor Market in India by Zones 2019-2028 (thousand units)
  • Table 12 4-Wheel-Drive Tractor Market in India by Zones 2019-2028 (thousand units)
  • Table 13 North Zone India Tractor Market by HP 2019-2028 (thousand units)
  • Table 14 North Zone India Tractor Market by Wheel Drive 2019-2028 (thousand units)
  • Table 15 South Zone India Tractor Market by HP 2019-2028 (thousand units)
  • Table 16 South Zone India Tractor Market by Wheel Drive 2019-2028 (thousand units)
  • Table 17 West Zone India Tractor Market by HP 2019-2028 (thousand units)
  • Table 18 West Zone India Tractor Market by Wheel Drive 2019-2028 (thousand units)
  • Table 19 East Zone India Tractor Market by HP 2019-2028 (thousand units)
  • Table 20 East Zone India Tractor Market by Wheel Drive 2019-2028 (thousand units)
  • Table 21 Funds Allocated by the Government for Farm Mechanization 2015 & 2020
  • Table 22 Major Crops: Area, Production, and Yield (2017-2020)
  • Table 23 India: Decline in Workforce Engaged in Agriculture by Select States
  • Table 24 India: Leading Brands in Terms of Loyalty and Recommendation 2020
  • Table 25 Indian Agriculture Tractors - Domestic Sales and Exports of Leading Vendors (Thousand Units)
  • Table 26 Number of Tractor Models Offered by Top Vendors in India, 2021
  • Table 27 Mahindra: Major Product Offerings
  • Table 28 TAFE: Major Product Offerings
  • Table 29 Escorts: Major Product Offerings
  • Table 30 International Tractors: Major Product Offerings
  • Table 31 John Deere: Major Product Offerings
  • Table 32 CNH Industrial: Major Product Offerings
  • Table 33 SDF: Major Product Offerings
  • Table 34 Kubota: Major Product Offerings
  • Table 35 ACE: Major Product Offerings
  • Table 36 Indo Farm: Major Product Offerings
  • Table 37 Captain Tractors: Major Product Offerings
  • Table 38 Force Motors: Major Product Offerings
  • Table 39 VST Tillers Tractors: Major Product Offerings
  • Table 40 Preet Group: Major Product Offerings
  • Table 41 Standard Corp.: Major Product Offerings
  • Table 42 Yanmar: Major Product Offerings
  • Table 43 AGCO: Major Product Offerings
  • Table 44 India Tractor Market by HP 2019-2028 (Thousand Units)
  • Table 45 Less Than 20 HP Market in India by Zones 2019-2028 (thousand units)
  • Table 46 20-40 HP Market in India by Zones 2019-2028 (thousand units)
  • Table 47 41-60 HP Market in India by Zones 2019-2028 (thousand units)
  • Table 48 61-100 HP Market in India by Zones 2019-2028 (thousand units)
  • Table 49 Above 100 HP Tractor Market in India by Zones 2019-2028 (thousand units)
  • Table 50 India Tractor Market by Drive Type 2019-2028 (Thousand Units)
  • Table 51 2-Wheel-Drive Tractor Market in India by Zones 2019-2028 (thousand units)
  • Table 52 4-Wheel-Drive Tractor Market in India by Zones 2019-2028 (thousand units)
  • Table 53 India Tractor Market by Zones 2019-2028 (thousand units)
  • Table 54 India Tractor Market in the North Zone by HP 2019-2028 (thousand units)
  • Table 55 India Tractor Market in the North Zone by WD 2019-2028 (thousand units)
  • Table 56 India Tractor Market in the South Zone by HP 2019-2028 (thousand units)
  • Table 57 India Tractor Market in the South Zone by WD 2019-2028 (thousand units)
  • Table 58 India Tractor Market in the West Zone by HP 2019-2028 (thousand units)
  • Table 59 India Tractor Market in the West Zone by WD 2019-2028 (thousand units)
  • Table 60 India Tractor Market in the East Zone by HP 2019-2028 (thousand units)
  • Table 61 India Tractor Market in the East Zone by WD 2019-2028 (thousand units)