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.
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:-
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