How Is India Tractor Market Positioned?
In
India two-third population is engaged in Agriculture. Tractors form an
essential part of this sector. They bring the required efficiency and
productivity country needs in its agricultural activity to compete on the
international level. The Indian tractor Industry has made preponderant
improvement in production capacity and in terms of production volumes. The
industry has been successful in indigenization of the technology. The volume
growth in the industry has remained strong since FY12. Currently, Indian
Tractor production contributes a third for the global tractor production. The
major segment in Indian Tractor Industry is of agricultural tractor.
Market: The tractor
market has seen significant growth in the last few years, recording a CAGR of
~% during 2016-2020 primarily due to normal and good monsoon, increased crop
production and agricultural produce, and strong push from Indian Government. Apart
from economic perspective, farm mechanization improves the quality of job and
reduces stress from farmer’s job. The demand for
tractors declined during 2015-2016 due to a contraction in the farm incomes, as
the production of major crops and commodity prices reduced with lower
procurements by the government, owing to adequate buffer reserves.
India
Tractor Market
By Vehicle Category Type: Agricultural segment makes up
majority share of the Tractor market of the country, followed by the commercial
segment. Share for Commercial segment is low as Tractors are considered to be an
Investment for farms and specific to agriculture rather than commuting or
transportation. In addition to the same, various other farm equipment like
power tiller and Harvestor are also gaining strength.
India
Tractor Market Size and Segmentation
By Vehicle Category Type: The Tractor
industry has been primarily dominated by the agricultural segment as they are
multi-purpose. Commercial tractors are those tractors that are used for
carrying luggage or transporting the loads. Tractors as a transportation vehicle
as Indian individuals have more inclination towards Trucks and Mini Vans.
Registration by Region & State
North
and Western have the highest share of Tractors due to the presence of manufacturing
units and agricultural production. It is followed by Punjab, Haryana and U.P. Apart
from the measures at the national level, several state governments are also
committed to promoting Tractors in their states to drive market growth.
The
northern region continues to lag the pan India growth. Uttar Pradesh, the most
important tractor market within the region, has recorded healthy growth. Other
key markets of Rajasthan and Punjab still struggle, as results of weak haulage
and replacement demand respectively.
Competitive Scenario In India Tractor
Market
The
competition in the Tractor market in India is highly concentrated where leading
manufacturers hold around ~% share in the market. The major tractors include
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 Division),
Eicher Tractors, Cnh Industrial (India) Pvt Ltd, Kubota Agricultural Machinery
India Pvt.Ltd., V.S.T. Tillers Tractors Limited. The market is highly
unorganized and comprises of small assemblers who source part from China. These
players compete on parameters Product Portfolio, Distribution Network, Pricing,
Discounts, and Geographical Location, value Added Services, Collaborations
& Partnerships and After Sales Service.
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:-
Related
Reports:-
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