PUBLISHER: IMARC | PRODUCT CODE: 1451113
PUBLISHER: IMARC | PRODUCT CODE: 1451113
Indian Agricultural Equipment Market Report by Equipment, Application, and Region 2024-2032
The Indian agricultural equipment market size reached INR 1,129.6 Billion in 2023. Looking forward, IMARC Group expects the market to reach INR 2,527.4 Billion by 2032, exhibiting a growth rate (CAGR) of 9.1% during 2024-2032.
Over the last few years, there has been a considerable progress in agriculture mechanization. A significant proportion of farmers in the country have already started moving from using animate sources to mechanical equipments to power their farming activities. Mechanical equipments for various farm operations like tillage, sowing, irrigation, plant protection and threshing, etc., are generally being used by the farming community. As a result of increasing farm mechanization trends, the agricultural equipment market has witnessed strong growth in the past few years. This market is currently being driven by a number of factors such as easy availability of credit, government incentives, increasing agricultural productivity, emergence of contract farming, increasing rural incomes, etc.
Indian Agricultural Equipment Market Drivers:
Labour Shortage: Labour shortage has been a major reason that has driven farmers towards farm mechanization. Large scale migration from rural to urban areas and a number of rural employment schemes have created a labour shortage in rural areas. For instance, the National Rural Employment Guarantee Agency (NREGA) has had in many places a ripple effect - labour shortage leading to farm mechanization. The implementation of this scheme has significantly reduced the inflow of seasonal migrant labourers from Bihar and UP to states like Haryana and Punjab during the crucial sowing and transplantation season. As a result, the demand for farm machines in these states has witnessed a significant increase.
Ease of Financing: In recent years, a number of banks and microfinance institutions have been set all across rural India. This has provided farmers an easy availability of credit to purchase farm machinery.
Government Incentives: Incentives in the form of subsidies, low import duties on agricultural machinery and easy financing schemes by the Indian government has also been a major driver of the farm equipments market in India.
Rising incomes: As a result of strong economic growth and agricultural productivity, the income levels of rural households have been continuously increasing over the last few years. Rising incomes have enabled farmers to significantly increase their spending on agriculture mechanization.
Large Untapped Market: Despite strong growth in recent years, the penetration of tractors and a number of related equipments still remains relatively low. This is expected to leave a lot of room for future growth.
Emergence of Contract Farming: The emergence of contract farming is also expected to give a strong boost to the agricultural equipments market in India. We expect contract farming to enable farmers to get the benefit of technology, training and financing with the contractor's support. This is expected to facilitate the adoption of mechanized farming practices.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the Indian agricultural equipment market report, along with forecasts at the country and regional level from 2024-2032. Our report has categorized the market based on equipment and application.
Breakup by Equipment:
Tractors
Trailers
Harvesters
Planting Equipment
Irrigation and Crop Processing Equipment
Spraying Equipment
Hay and Forage Equipment
Others
Based on the equipment, the market has been segmented as tractors, trailers, harvesters, planting equipment, irrigation and crop processing equipment, spraying equipment, hay and forage equipment and others.
Breakup by Application:
Land Development and Seed Bed Preparation
Sowing and Planting
Weed Cultivation
Plant Protection
Harvesting and Threshing
Post-Harvest and Agro Processing
On the basis of application, the market has been segmented as land development and seed bed preparation, sowing and planting, weed cultivation, plant protection, harvesting and threshing, and post-harvest and agro processing.
Breakup by Region:
North India
South India
West India
East India
On the basis of region, the market has been segmented as North India, South India, East India and West India.
Competitive Landscape:
The competitive landscape of the market has also been examined in the report and the profiles of key players have also been provided.
This report provides a deep insight into the Indian agricultural equipments market covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter's five forces analysis, value chain analysis, etc. This report is a must-read for entrepreneurs, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the Indian agricultural equipments market in any manner.
Key Questions Answered in This Report
- 1. What was the size of the Indian agricultural equipment market in 2023?
- 2. What is the expected growth rate of the Indian agricultural equipment market during 2024-2032?
- 3. What are the key factors driving the Indian agricultural equipment market?
- 4. What has been the impact of COVID-19 on the Indian agricultural equipment market?
- 5. What is the breakup of the Indian agricultural equipment market based on the equipment?
- 6. What is the breakup of the Indian agricultural equipment market based on the application?
- 7. What are the key regions in the Indian agricultural equipment market?
Table of Contents
1 Preface
2 Scope and Methodology
- 2.1 Objectives of the Study
- 2.2 Stakeholders
- 2.3 Data Sources
- 2.3.1 Primary Sources
- 2.3.2 Secondary Sources
- 2.4 Market Estimation
- 2.4.1 Bottom-Up Approach
- 2.4.2 Top-Down Approach
- 2.5 Forecasting Methodology
3 Executive Summary
4 Introduction
- 4.1 Overview
- 4.2 Key Industry Trends
5 Indian Agricultural Equipment Market
- 5.1 Market Overview
- 5.2 Market Performance
- 5.3 Impact of COVID-19
- 5.4 Market Breakup by Equipment
- 5.5 Market Breakup by Application
- 5.6 Market Breakup by Region
- 5.7 Market Forecast
- 5.8 SWOT Analysis
- 5.8.1 Overview
- 5.8.2 Strengths
- 5.8.3 Weaknesses
- 5.8.4 Opportunities
- 5.8.5 Threats
- 5.9 Value Chain Analysis
- 5.9.1 Overview
- 5.9.2 Research and Development
- 5.9.3 Raw Material Procurement
- 5.9.4 Manufacturing
- 5.9.5 Marketing
- 5.9.6 Distribution
- 5.9.7 End-Use
- 5.10 Porters Five Forces Analysis
- 5.10.1 Overview
- 5.10.2 Bargaining Power of Buyers
- 5.10.3 Bargaining Power of Suppliers
- 5.10.4 Degree of Competition
- 5.10.5 Threat of New Entrants
- 5.10.6 Threat of Substitutes
- 5.11 Price Analysis
- 5.11.1 Key Price Indicators
- 5.11.2 Price Structure
- 5.11.3 Margin Analysis
6 Market Breakup by Equipment
- 6.1 Tractors
- 6.1.1 Market Trends
- 6.1.2 Market Forecast
- 6.2 Trailers
- 6.2.1 Market Trends
- 6.2.2 Market Forecast
- 6.3 Harvesters
- 6.3.1 Market Trends
- 6.3.2 Market Forecast
- 6.4 Planting Equipment
- 6.4.1 Market Trends
- 6.4.2 Market Forecast
- 6.5 Irrigation and Crop Processing Equipment
- 6.5.1 Market Trends
- 6.5.2 Market Forecast
- 6.6 Spraying Equipment
- 6.6.1 Market Trends
- 6.6.2 Market Forecast
- 6.7 Hay and Forage Equipment
- 6.7.1 Market Trends
- 6.7.2 Market Forecast
- 6.8 Others
- 6.8.1 Market Trends
- 6.8.2 Market Forecast
7 Market Breakup by Application
- 7.1 Land Development and Seed Bed Preparation
- 7.1.1 Market Trends
- 7.1.2 Market Forecast
- 7.2 Sowing and Planting
- 7.2.1 Market Trends
- 7.2.2 Market Forecast
- 7.3 Weed Cultivation
- 7.3.1 Market Trends
- 7.3.2 Market Forecast
- 7.4 Plant Protection
- 7.4.1 Market Trends
- 7.4.2 Market Forecast
- 7.5 Harvesting and Threshing
- 7.5.1 Market Trends
- 7.5.2 Market Forecast
- 7.6 Post-Harvest and Agro Processing
- 7.6.1 Market Trends
- 7.6.2 Market Forecast
8 Market Breakup by Region
- 8.1 North India
- 8.1.1 Market Trends
- 8.1.2 Market Forecast
- 8.2 South India
- 8.2.1 Market Trends
- 8.2.2 Market Forecast
- 8.3 West India
- 8.3.1 Market Trends
- 8.3.2 Market Forecast
- 8.4 East India
- 8.4.1 Market Trends
- 8.4.2 Market Forecast
9 Competitive Landscape
- 9.1 Market Structure
- 9.2 Key Players
- 9.3 Profiles of Key Players
List of Figures
- Figure 1: India: Agricultural Equipment Market: Major Drivers and Challenges
- Figure 2: India: Agricultural Equipment Market: Sales Value (in Billion INR), 2018-2023
- Figure 3: India: Agricultural Equipment Market: Breakup by Equipment (in %), 2023
- Figure 4: India: Agricultural Equipment Market: Breakup by Application (in %), 2023
- Figure 5: India: Agricultural Equipment Market: Breakup by Region (in %), 2023
- Figure 6: India: Agricultural Equipment Market Forecast: Sales Value (in Billion INR), 2024-2032
- Figure 7: Agricultural Equipment Market: Price Structure
- Figure 8: India: Agricultural Equipment Industry: SWOT Analysis
- Figure 9: India: Agricultural Equipment Industry: Value Chain Analysis
- Figure 10: India: Agricultural Equipment Industry: Porter's Five Forces Analysis
- Figure 11: India: Agricultural Equipment (Tractors) Market: Sales Value (in Billion INR), 2018 & 2023
- Figure 12: India: Agricultural Equipment (Tractors) Market Forecast: Sales Value (in Billion INR), 2024-2032
- Figure 13: India: Agricultural Equipment (Trailers) Market: Sales Value (in Billion INR), 2018 & 2023
- Figure 14: India: Agricultural Equipment (Trailers) Market Forecast: Sales Value (in Billion INR), 2024-2032
- Figure 15: India: Agricultural Equipment (Harvesters) Market: Sales Value (in Billion INR), 2018 & 2023
- Figure 16: India: Agricultural Equipment (Harvesters) Market Forecast: Sales Value (in Billion INR), 2024-2032
- Figure 17: India: Agricultural Equipment (Planting Equipment) Market: Sales Value (in Billion INR), 2018 & 2023
- Figure 18: India: Agricultural Equipment (Planting Equipment) Market Forecast: Sales Value (in Billion INR), 2024-2032
- Figure 19: India: Agricultural Equipment (Irrigation and Crop Processing Equipment) Market: Sales Value (in Billion INR), 2018 & 2023
- Figure 20: India: Agricultural Equipment (Irrigation and Crop Processing Equipment) Market Forecast: Sales Value (in Billion INR), 2024-2032
- Figure 21: India: Agricultural Equipment (Spraying Equipment) Market: Sales Value (in Billion INR), 2018 & 2023
- Figure 22: India: Agricultural Equipment (Spraying Equipment) Market Forecast: Sales Value (in Billion INR), 2024-2032
- Figure 23: India: Agricultural Equipment (Hay and Forage Equipment) Market: Sales Value (in Billion INR), 2018 & 2023
- Figure 24: India: Agricultural Equipment (Hay and Forage Equipment) Market Forecast: Sales Value (in Billion INR), 2024-2032
- Figure 25: India: Agricultural Equipment (Others) Market: Sales Value (in Billion INR), 2018 & 2023
- Figure 26: India: Agricultural Equipment (Others) Market Forecast: Sales Value (in Billion INR), 2024-2032
- Figure 27: India: Agricultural Equipment (Land Development and Seed Bed Preparation) Market: Sales Value (in Billion INR), 2018 & 2023
- Figure 28: India: Agricultural Equipment (Land Development and Seed Bed Preparation) Market Forecast: Sales Value (in Billion INR), 2024-2032
- Figure 29: India: Agricultural Equipment (Sowing and Planting) Market: Sales Value (in Billion INR), 2018 & 2023
- Figure 30: India: Agricultural Equipment (Sowing and Planting) Market Forecast: Sales Value (in Billion INR), 2024-2032
- Figure 31: India: Agricultural Equipment (Weed Cultivation) Market: Sales Value (in Billion INR), 2018 & 2023
- Figure 32: India: Agricultural Equipment (Weed Cultivation) Market Forecast: Sales Value (in Billion INR), 2024-2032
- Figure 33: India: Agricultural Equipment (Plant Protection) Market: Sales Value (in Billion INR), 2018 & 2023
- Figure 34: India: Agricultural Equipment (Plant Protection) Market Forecast: Sales Value (in Billion INR), 2024-2032
- Figure 35: India: Agricultural Equipment (Harvesting and Threshing) Market: Sales Value (in Billion INR), 2018 & 2023
- Figure 36: India: Agricultural Equipment (Harvesting and Threshing) Market Forecast: Sales Value (in Billion INR), 2024-2032
- Figure 37: India: Agricultural Equipment (Post-Harvest and Agro Processing) Market: Sales Value (in Billion INR), 2018 & 2023
- Figure 38: India: Agricultural Equipment (Post-Harvest and Agro Processing) Market Forecast: Sales Value (in Billion INR), 2024-2032
- Figure 39: North India: Agricultural Equipment Market: Sales Value (in Billion INR), 2018 & 2023
- Figure 40: North India: Agricultural Equipment Market Forecast: Sales Value (in Billion INR), 2024-2032
- Figure 41: South India: Agricultural Equipment Market: Sales Value (in Billion INR), 2018 & 2023
- Figure 42: South India: Agricultural Equipment Market Forecast: Sales Value (in Billion INR), 2024-2032
- Figure 43: West India: Agricultural Equipment Market: Sales Value (in Billion INR), 2018 & 2023
- Figure 44: West India: Agricultural Equipment Market Forecast: Sales Value (in Billion INR), 2024-2032
- Figure 45: East India: Agricultural Equipment Market: Sales Value (in Billion INR), 2018 & 2023
- Figure 46: East India: Agricultural Equipment Market Forecast: Sales Value (in Billion INR), 2024-2032
- Figure 47: Agricultural Equipment Manufacturing: Detailed Process Flow
List of Tables
- Table 1: India: Agricultural Equipment Market: Key Industry Highlights, 2023 and 2032
- Table 2: India: Agricultural Equipment Market Forecast: Breakup by Equipment (in Billion INR), 2024-2032
- Table 3: India: Agricultural Equipment Market Forecast: Breakup by Application (in Billion INR), 2024-2032
- Table 4: India: Agricultural Equipment Market Forecast: Breakup by Region (in Billion INR), 2024-2032
- Table 5: Agricultural Equipment: Raw Material Requirements
- Table 6: India: Agricultural Equipment Market: Competitive Structure
- Table 7: India: Agricultural Equipment Market: Key Players
