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Strong government support and Rapid Agricultural Sector Growth has become the Key Drivers for Tractor Industry Growth in India: Ken Research

Key Findings

  • Exports of Tractors have hit record highs after facing a bump due to Pandemic with 10,500 unit clocking in December 2020.
  • According to Tractor & Mechanisation Association of India, there has been an increase of 43% in the sale of Tractors year-on-year basis.

Emerging Trends in Tractor Market: Various Indian manufacturers are now focusing on European countries and trying to establish their presence there as well and compete with American and European brands like Massey Ferguson and John Deere.

Sonalika, one of the major Indian manufacturers has seen a growth of 50% during the year in European markets. It has sold around 20,000 tractors in Europe during the year 2020. There has been an increase in the agri-produce and push for reducing the cost while increasing the production in Indian as well African. This presents a great opportunity for the Indian manufacturers. With an increase in the scale of production, there is a rise in the demand for Harvestors as well. With increase in the expanse of farm mechanisation, even small scale farmers and producers are employing machinery to ease out the process and provide support. This explains the enhanced demand for the power tillers.

Government Initiatives to Tractor Industry: In the wake of pandemic, government has launched various initiatives to promote manufacturing in India and provide support to rural as well as agricultural industry in the country. Prime Minister Narendra Modi’s government has announced that they will spend around $20 billion to provide support to farmers. They have also highlighted the need to diversify the rural employment scenario from being focussed on agriculture to other trades as well; the plans to roll out the policy for the same are in the place. This diversification will reduce the dependence of rural youth on agriculture and the investment roll out will lead to investment in mechanisation of farms. This will lead to increase in sales of Tractors in near future and will create a positive trend for the coming years.

Impact of Covid-19: The sudden onset of pandemic has dampened the sale of Tractors and its export in the initial months of the wave of infectious disease. In the upcoming months after the lockdown was lifted and the factories were allowed to function, the sales were able to move back to normal. The numbers were able to rebound back to healthy trends and function. Supply Chains faced major disruptions and it became hard for the manufacturers to locate containers for exporting the units. But this resolved by late November in 2020 and Indian Tractor Industry was able to reach record sales for the years. Indian Tractors are affordable and durable which helped them position themselves more attractively in the International Markets.

Analysts at Ken Research in their latest publication India Tractor and Harvestor Market Outlook to 2025-By Vehicle Category (Agriculture and Commercial), By State, By Region (North, West, East and South)observed that the Indian Tractor market has a great potential to grow supported by numerous government initiatives. Tractors offer cost effective services and support for scaling agricultural produce. Farm mechanization is the need for the hour in India where cost of producing food grains is very high and prices in markets for the same face immense fluctuations.

india-tractor-market

Key Segments Covered:-

By Vehicle Category

Agricultural

Commercial

Registration by Region

North

East

West

South

Registration by State

Tractor Makers Covered:-

Mahindra & Mahindra Limited (Tractor)

Mahindra & Mahindra Limited (Swaraj Division)

International Tractors Limited

Tafe Limited

Escorts Limited (Agri Machinery Group)

John Deere India Pvt Ltd (Tractor Devision)

Eicher Tractors

Cnh Industrial (India) Pvt Ltd

Kubota Agricultural Machinery India Pvt. Ltd.

V.S.T. Tillers Tractors Limited

Force Motors Limited, A Firodia Enterprise

Captain Tractors Pvt. Ltd.

Indo Farm Equipment Limited

Vani Electric Vehicles Pvt Ltd

Harvestor Makers Covered:-

John Deere India Pvt Ltd

Manku Agro Tech Pvt Ltd

Kartar Agro Industries Pvt Ltd

Preet Agro Industries Pvt Ltd

Mahindra & Mahindra Limited

Malkit Agro Tech Pvt. Ltd

Guru Nanak AgriEngg Works

Dasmesh Pvt. Ltd

Cnh Industrial (India) Pvt Ltd

K.S. Agrotech Pvt Ltd

Surindera Agro Industries

K.S. Agricultural Industries Pvt. Ltd

Hind Agro Industries

Hira Agro Industries

Claas India P Ltd

Sonalika Industries

New Hind Agro Pvt Ltd

Punjab Agro Implements Industries

Key Target Audience:-

Tractor OEMs

Consultancy Companies

Industry Associations

Regulatory Bodies

Time Period Captured in the Report:-

Historical Period – 2016-2020

Forecast Period – 2020-2025

Key Topics Covered in the Report:-

India Tractor Registration Volume

India Tractor Type (in Units)

India Tractor Vehicle Category (in Units)

India Tractor Vehicle Registration by Region

India Tractor Vehicle Registration by State

India Tractor Maker Market Share

India Tractor Registration Volume

India Tractor Type (in Units)

India Tractor Vehicle Category (in Units)

India Tractor Vehicle Registration by Region

India Tractor Vehicle Registration by State

India Tractor Maker Market Share

Future Market Size and Segmentations, 2020-2025F

For More Information on the research report, refer to below link:-

India Tractor Market

Related Reports:-

Myanmar Agriculture Machinery Market Outlook to 2025: Driven by Growth in Machinery Supply and Government’s Focus on Agriculture Mechanization in the Country

Vietnam Agricultural Machinery Market Outlook To 2025 – Agriculture Tractor Market (By Type: 2W And 4W Tractors, By Power: Below 12 HP, 12HP-35HP, And Above 35HP, By Region: Central Highlands, North Central & Central Coast, Mekong Delta, Northern Midlands and Mountains, Red River Delta and South East), Combine Harvester Market, Rice Transplanters Market and Agriculture Implements Market (By Product Type: Rotavator, Plough, Harrow, Fertilizer Spreaders and Others)

Indonesia Agriculture Equipment Market Outlook to 2025 – By Tractors Market (2 Wheeled & 4 Wheeled Tractors; < 40HP, 40-70HP & >70HP Tractors; Combine Harvesters Market (Less than 70HP, 70HP and >70HP); Rice Transplanters Market; Implements Market (Rotavator, Plough, Harrow, Fertilizer Spreaders & Others); and Regional Demand of Agriculture Equipment (Java, Sulawesi, Sumatra, Kalimantan & Others)

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