- 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.
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:-
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