The report titled “Indian Used Agricultural Equipment Market Outlook to 2026 (Including Tractors, Harvesters, Power Tillers and Tractor-Attachable Equipment): Driven by rising adoption of small and marginal farmers and government subsidy to increase the demand of used equipment” provides a comprehensive analysis of the Used Agricultural Equipment market, and the financing ecosystem of such equipment in India. The report focuses on the used agricultural equipment market size, analysis of sub-markets such as India used tractor market, India used harvester market, India Power tiller market, and India tractor-attachable equipment (sprayer, rotavator, cultivator, ploughs, drills, harrow, etc) market. It also focuses on segmentation of used tractor and harvester market by New Purchase vs Used Purchase, by Manufacturers, by Power (HP), by Drive /Cutting width (where applicable), by Region, by Distribution Channels, by Vehicle Age, By Mode of Sales (Online vs Offline), by Financed vs Non-Financed Purchases by End Users, and by Organized vs Unorganized Financing.
The report
also covers used power tiller market sizing and segmentation by New Purchase vs
Used Purchase, by Manufacturers, by Power and by Region, along with Used
tractor-attachable market size and segmentation by type (sprayer, rotavator,
cultivator, ploughs, drills, harrow, etc.). Other major areas under focus are Indian Agricultural Sector Overview,
analysis of Crop Production in India, State-wise Crop Yield Analysis, benefits
of Farm Mechanization, evolution of Mechanization in the Indian Agriculture
Industry, dominant Used Agriculture Equipment in India, agricultural Value
Chain and Required types of Equipment, India Used
Agriculture Equipment Market Ecosystem and value chain, SWOT Analysis of the
Indian Used Agricultural Equipment Market, major Constraints in the Indian Used
Agricultural Equipment Market, major Government Initiatives and Interventions
in the Agricultural Sector in India and snapshot of Agricultural Equipment
Rental and auction markets. The report concludes with future market projections
on the basis of overall outlook of the Indian Used Agricultural Equipment
market and analyst recommendations highlighting the major opportunities.
Indian Used Agricultural Equipment market grew at a CAGR of ~16.5 % by volume, and ~19.1% by transaction value, during FY’16-FY’21. Used tractors dominated the Used Agricultural Equipment in India, by volume sold, in FY’21 followed by used tractor-attachable equipment (sprayer, rotavator, cultivator, ploughs, drills, harrow, etc.), used power tillers and used harvesters. The market was also observed to be highly fragmented and dominated by the unorganized dealers. Apart from that, peer to peer sales is also quite frequent in India. Ambitious government initiatives, rising adoption of mechanization in India, paired with economic feasibility of purchasing second hand equipment has led to the growth of Used Agricultural Equipment market in India.
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India Used Agricultural Equipment Sub-markets
Used Tractor Market: The Used
Tractor Market in India is the largest contributor to the India Used
Agricultural equipment market. This market has seen a steady rise from FY’ 16
to FY’21. Demand for used tractor is highest in states with lower average
income of farmers, such as U.P. and M.P., while Punjab and Haryana have higher
demand for new tractors. Online sales of used tractor have seen a recent surge,
owing to the increasing traction of e-marketplaces, physical-digital hybrid
marketplaces & classifieds in rural areas.
Competition
Scenario among Classifieds: Classifieds are online aggregator platform acting as a portal between
institutional and individual sellers of farm implements and the end customer.
Classifieds such as Tractor Junction, Meratractor, Tractorguru, Khetigaadi,
Molanmol are some major classifieds used for the purchase of second hand
agricultural equipment.
Used Harvester Market: Due to
their high unit value, used harvester contribute significantly more in the
total value of Used Agri Equipment market, while contributing very less in the
total volume. The market for used harvester is highly consolidated in terms of
manufacturers, with ~5 manufacturers occupying a large chunk of the market. However,
in terms of distribution channel, used harvester market is heavily unorganized,
with majority of sales happening Peer to Peer.
Used Power tiller Market: The
used power tiller market has shown a negligible growth rate, largely remaining
static throughout FY’16 to FY’21. However, new barriers imposed by the
Government of India on imports in 2020, is expected to significantly boost the
power tiller market, and in turn increase the used power tiller market growth
rate as well. The market is highly consolidated in terms of manufacturers with
only 2 manufacturers capturing a majority of the market.
Used Tractor-Attachable Equipment Market: These consist of sprayer,
rotavator, cultivator, ploughs, drills and harrow. These equipment are highly
dependent on the tractor market in India and are projected to have increasing
adoption in the face of labor shortage due to rural to urban migration. These equipment
require lower capital involvement as compared to other equipment such as
tillers and tractors.
India Agricultural Equipment
Financing Market: Various Initiatives by NABARD and RBI has been aimed towards increasing
credit flow in the agricultural sector, by assisting private institution
financially. Total outstanding credit in Agriculture by commercial banks in
India has grown optimistically from FY’16 to FY’21. Some of the major financing
companies in Indian Agricultural sector are Mahindra Finance, Kotak Mahindra
Bank, IndusInd Bank.
India Used Agricultural Equipment Market Future Outlook and
Projections
The Used Agricultural Equipment Market in India is
anticipated to grow with the growing adoption of farm implements and government
initiatives offering subsidies on such equipment. Over the forecast period FY’22-FY’26,
the India Used Agricultural Equipment Market is further anticipated to showcase
an upward trend in terms of volume and value, better than the earlier years,
with the market consistently expanding. The organized financing of used
agricultural equipment will have an increasing preference among the end users.
Key Markets Covered in India Used Agricultural Equipment
Market
India Used Tractor Market
Market Size, By Volume and Value, FY’16-FY’21
Market Segmentation By,
By New Purchase vs Used Purchase, FY’16-FY’21
By Manufacturers, FY’21
By Power (HP), FY’16 & FY’21
By Drive (2WD vs 4WD), FY’21
By Region, FY’16 & FY’21
By Distribution Channels, FY’21
By Vehicle Age, FY’21
By Mode of Sales (Online vs Offline), FY’16 & FY’21
By Financed vs Non-Financed Purchases by End Users, FY’16
& FY’21
By Organized vs Unorganized Financing, FY’16 & FY’21
India Used Harvester Market
Market Size, By Volume and Value, FY’16-FY’21
Market Segmentation By,
By New Purchase vs Used Purchase, FY’16-FY’21
By Manufacturers (Track Type Harvesters), FY’21
By Power (HP), FY’16 & FY’21
By Cutting Width, FY’21
By Region, FY’16 & FY’21
By Distribution Channels, FY’21
By Vehicle Age, FY’21
By Hours of Usage, FY’21
By Mode of Sales (Online vs Offline), FY’16 & FY’21
By Financed vs Non-Financed Purchases by End Users, FY’16
& FY’21
By Organized vs Unorganized Financing, FY’16 & FY’21
India Used Power Tiller Market
Market Size, By Volume and Value, FY’16-FY’21
Market Segmentation By,
By New Purchase vs Used Purchase, FY’16-FY’21
By Manufacturers, FY’21
By Power (HP), FY’16 & FY’21
By Region, FY’16 & FY’21
India Used Tractor-Attachable Equipment Market
Market Size, By Volume and Value, FY’16-FY’21
Market Segmentation By Product Types,
Used Rotavators Sales, By Volume, FY’21
Used Cultivator Sales, By Volume, FY’21
Used Sprayer Sales, By Volume, FY’21
Used Harrows Sales, By Volume, FY’21
Used Ploughs and Drills Sales, By Volume, FY’21
Agricultural Equipment Financing Market in India
Value Chain And Ecosystem of Agricultural Equipment Financing
market in India
Key Issues and Challenges, customer’s perspective
Market Share of top used tractor financing companies in
India, By Volume fo Tractor financed, FY’21
Cross-Comparison of Major Agriculture finance companies in
India
Key Target Audience:-
Construction Chemical companies
Concrete Additive companies
Waterproofing companies
Adhesive and Sealant Companies
Repair and Rehabilitation Chemical companies
Time Period Captured in the Report:-
Historical Period: FY’16-FY’21
Forecast Period: FY’22-FY’26
Major Classified Websites for Used
Agricultural Equipment Sales:-
Tractorjuction.com
Meratractor.com
Khetigaadi.com
Escortsmolanmol.com
Tractorguru.com
Major Financing Companies for Used Agri-Equipment In India
Mahindra
Finance
Kotak
Mahindra Bank
IndusInd
Bank
TVS Credit
AU Small
Finance Bank
Kogta
Finance
Key Topics Covered in the Report:-
Indian Agricultural Sector Overview
Analysis of Crop Production in India
State-wise Crop Yield Analysis
Benefits of Farm Mechanization
Evolution of Mechanization in the
Indian Agriculture Industry
Dominant Used Agriculture Equipment
in India
Agricultural Value Chain and Required
types of Equipment
Current Level of Mechanization in
Indian Farms for major crops
India Used Agriculture Equipment Market Ecosystem
Manufacturer Typologies of Farm Equipment in India
Value Chain Analysis of India Used Agriculture Equipment
Market
SWOT Analysis of the Indian Used Agricultural Equipment
Market
Major Constraints in the Indian Used Agricultural Equipment
Market
Major Government Initiatives and Interventions in the
Agricultural Sector in India
Snapshot: Agricultural Equipment Rental market
E-Nam- The online Auction Platform for the agricultural
Industry
Indian Used Agricultural Equipment
Market Size and Segmentation
India Used Agricultural Equipment Market Size, By Volume and
Value
Segmentation, By Types of Equipment
Indian Used Tractor Market Size and
Segmentation
Indian Used Tractor Market Size and Comparison with India New
Tractor Market
Indian Used Tractor Market:
Competition Scenario among Classifieds
Indian Used Harvester Market Size and
Segmentation
Indian Used Power Tiller Market Size
and Segmentation
Indian Used Tractor-Attachable
Equipment Market
India Used Agricultural Equipment
Market Future Outlook and Projections
Value Chain Analysis and Ecosystem the Indian Used
Agricultural Equipment Financing Market
Captive Financing and it’s correlation with dealerships
Gap analysis of the Indian Used Agricultural Equipment Market
Key Success Mantras for a Market Entrant in Classified for
Used Agri-equipment Market
Opportunities in financing of Agricultural Equipment
Industry Speaks
For More Information on
the research report, refer to below link:-
Indian Used Agricultural Equipment Market
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