Agricultural Machinery Market in India 2020

     

 This research report presents a comprehensive overview on the India Agricultural Machinery market, further presents an analysis on its products and services in the market and the leading companies operating in the Agricultural Machinery industry. You will also find many facts & figures and statistics related to the India Agricultural Machinery market.

Along with a detailed overview, this report also has SWOT analysis and PEST analysis which provide a deeper insightful look into the Indian Agricultural Machinery market. There’s also regional analysis which furthermore increases the credibility of the data provided in this report. The data has been presented in such a way that is easy to understand. You will find pie charts, graphs, and other visual representations that will provide better sense of the information.

The research report widely covers the business profiles of all the key players that operate in the India Agricultural Machinery market. These companies have been thoroughly profiled and the report contains information on their growth projections, development prospects, their business strategies, sales data, and their current business revenue, to the expected revenue. Based on the report, you can understand what the leading players are planning to do in the next 5 years, and this data will help you to make important business decisions. Mahindra & Mahindra Limited, Escorts Limited, Force Motor Limited, Greavers Cotton Limited, Shivagrico Implements Limited and more - all the top companies operating in the India Agricultural Machinery market and their business strategies have been profiled in this research report.

The agriculture and allied sector plays a crucial role in a developing agrarian economy like India. More than 50% of the population is dependent on agriculture for livelihood. As of 2020, the agriculture sector accounts for more than 17% of the nation’s Gross Domestic Product (GDP); however, the mechanization level in India is less than countries like Brazil (75%), the United States (95%), and China (57%). Nevertheless, in the past few years, the country has witnessed a significant surge in the sale of agricultural machinery sales due to power availability on farms, and ease in financing options in the country.
The agricultural machinery market in India was valued at ~INR 880.23 Bn in FY 2019 and is expected to reach ~INR 1,203.01 Bn by FY 2025, expanding at a CAGR of ~5.51% during the FY 2020-FY 2025 period.

Segment insights:
India is the world’s biggest tractor manufacturer, and accounts for more than one-third of the total tractor production. The tractor segment accounted for more than 80% of the market’s revenue in FY 2020. Tractor penetration is high in northern India's agrarian zone, principally Punjab, Haryana, and Uttar Pradesh, while in the southern and western regions of India, mainly Andhra Pradesh, Tamil Nadu, and Maharashtra, the adoption rate is low. Other segments of the market include rotavators, threshers, and power tillers.
Tractors with horsepower capacity of 30 HP-50 HP are have been sold the most and comprise more than 80% of the tractor industry revenue. However, the industry is witnessing a gradual shift towards tractors with higher capacity to suit multiple soil conditions.

Impact of COVID-19 and the way forward:
The lockdown, which was imposed by the Indian government to curb the spread of the novel coronavirus, brought trade, manufacturing and commerce to a standstill, radically transforming the business scenario in the country. The situation has severely hampered the sale of tractors and other agricultural equipment in the country. Further, the industry is experiencing a rise in freight rates due to labor shortages and supply chain disruptions. As a result, the Indian tractor market, which is the largest segment of the agricultural machinery industry, declined by more than 10%.

Moreover, due to the temporary suspension of trade between countries, businesses are adopting the strategy of 'producing and consuming local,' which is expected to boost the domestic production of farm equipment.

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

With this research report, you can get an insightful view of the India Agricultural Machinery market. So, if you are looking to make smart investments, you will be at an advantage with all the relevant data at your fingertips. This report also contains market analysis, growth analysis, and competitive landscape report, so if you are looking to start your own business in the India Agricultural Machinery market, you can use this report to assess business opportunities and make business strategies. 

This market research report has been prepared by the best researchers and authors of the research & development industry. They are qualified and have years of experience conducting detailed research. Market Research Port has many protocols in place to ensure that the reports are fact-checked before they are published and sold. At Market Research Port, we have exclusive tie-ups with some of the best research authors and bring to you only the finest reports at the most affordable prices. To Purchase the research report on India Agricultural Machinery market, Get in touch with us today.