Indian Used Agricultural Equipment Market is expected to grow at a CAGR of ~22.7% between FY’21 to FY’26: Ken Research

• Trickle effect of the growing new farm equipment market and rise of contract farming among small & marginal farmers are key growth drivers to Used Agri-Equipment Market in India.
• The effects of recent initiatives such as SMAM and NFSM, will be first seen in the new agri-equipment market and subsequently to the used agri-equipment market, through the trickle effect of increased equipment sale.
• The used tractor market will continue to dominate the overall used agricultural equipment market by contributing ~98% of the total sales in terms of value.

Continued Government Intervention and Shifting Customer Preference: This rise in volume will be driven by the heightened subsidies on under the SMAM initiative, which offers up to 60% subsidy on purchase of tractors. This higher CAGR of total value of the used agri-equipment market compared to volume can be attributed to rising preference for low age used equipment.

The Used Tractor Market- flagbearer of used agricultural equipment market: Used tractors market is predicted to grow faster than the new tractor market, as more and smaller & marginal farmers get involved in the purchase.

Among the sub-markets, Used Harvester market is anticipated to grow the fastest, with northern region having the highest demand for used harvesters, where local companies such as New Heera, Balkar, Malkit also contribute to harvester supply.

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Increase in regional demand contributing to augmenting the domestic power tiller market: While the used Power tiller market will still have a negligible contribution to the overall used agri-equipment market, it will recover from stagnation observed in last 5 years due to Chinese imported tillers, with a projected CAGR growth of ~ 3% from FY’21 to FY’26.

Government proposal to increase demand for tractor-attachable equipments: Rotavators, Sprayers and Ploughs & Drills will have increased market share contributing more and more in the growth of this market, due to organizations such as FICCI proposing promotion of these implements in northern India to GoI.

The future of Agricultural Financing: With the rise of various classifieds serving specifically in the used agri-equipment market, there is optimistic potential for financing opportunities, especially with increasing internet penetration in rural areas. Several players such as Mahindra Finance are gearing towards this domain.

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” by Ken Research suggested that the India used agricultural equipment market is expected to grow further in the near future, with increasing adoption of farm implements among Indian farmers. The market is expected to register a positive CAGR of ~22.7% in terms of volume sold, during the forecast period of FY’21-FY’26.

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

Related Reports:-

India Tractor Market Outlook to 2025- By Vehicle Category (Agriculture and Commercial), Registration by Region (North, East, West, South) and Registration by State

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)

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