Publishing: September 2021 | Report Code: AT11860 | Available Format: PDF
India Tractor Market Overview
The Indian tractor market is expected to witness considerable growth in the coming years, buoyed by the increasing farm mechanization rate, along with the rising construction activities, driven by urbanization. In addition, the surging investment by the leading tractor manufactures in the country is expected to positively impact the market during the forecast period (2020–2030).
On the basis of type, the Indian tractor market is categorized into utility tractors, row-crop tractors, industrial tractors, orchard-type tractors, garden tractors, implement carriers, earth-moving tractors, and rotary tillers. Among them, the utility tractor category held a significant share in 2019, due to the ability of such vehicles to perform multiple farming activities, thereby becoming an economical option for farmers.
When segmented on the basis of engine power, the Indian tractor market is categorized into less than 20 horsepower (hp), 20–35 hp, 36–45 hp, 46–75 hp, and more than 75 hp. Among these, the demand for the more-than-75-hp tractors is expected to grow considerably in the coming years, owing to their greater efficiency and power, coupled with the inclination of farmers toward high-power tractors, to increase productivity.
Based on application, the Indian tractor market is bifurcated into agriculture and construction. Of the two, the use of these vehicles for agricultural purposes has been higher. Agriculture is the most significant sector in the Indian economy, accounting for around 18% of the country’s gross domestic product (GDP) at present, and it is the primary source of income for over half of the Indian population. The increasing agricultural activities would drive the category’s market progress during the forecast period.
Geographically, the Indian tractor market is categorized into different states, including Uttar Pradesh, Gujarat, West Bengal, Assam, Karnataka, Kerala, Madhya Pradesh, Tamil Nadu, Punjab, and Haryana. Traditionally, the northern states, including Punjab, Haryana, and Uttar Pradesh, have been the major users of tractors, because of the large-scale agricultural activities, which greatly magnetize the adoption of such farming vehicles. These states have been massively engaged in agriculture and are the major producers of wheat and other staple food grains, as well as pulses.
India Tractor Market Dynamics
The increasing use of smaller tractors for performing specific agricultural tasks is a key trend being observed in the Indian tractor market. Small tractors are increasingly being used for different activities, such as mowing grass, cleaning up the piles, and hauling. This helps in increasing the efficiency of the farming activities, as a particular tractor is assigned to perform a specific task. Additionally, it helps reduce the cost for the farmers, who can now buy the tractor for serving their specific purpose only, without hampering the utility of the larger tractors.
One of the major drivers for the growth of the Indian tractor market is the constant expansion of the agricultural industry in the country. In India, one of the primary sources of livelihood is agriculture, on which over 70% of the rural population is solely dependent. The country is the largest producer, consumer, and importer of pulses, accounting for 25%, 27%, and 14%, of the worldwide shares, respectively, in 2017–2018. Further, the country is the second largest producer of vegetables and fruits in the world and one of the major countries producing paddy, wheat, groundnut, rapeseed, tea, jute, cotton, and tobacco leaves. Thus, with the high magnitude of agricultural activities in the country, the demand for allied vehicles, specifically the tractor, is also expected to surge.
India Tractor Market Competitive Landscape
Some of the major players operating in the Indian tractor market are Mahindra & Mahindra Ltd., Force Motors Ltd., John Deere India Pvt. Ltd., Eicher Motors Ltd., Tractors and Farm Equipment Ltd., CNH Industrial (India) Pvt. Ltd., and Claas Agricultural Machinery Pvt. Ltd.
The report covers a state-wise Indian tractor market analysis. Some of the major states covered in the report are Uttar Pradesh, Gujarat, West Bengal, Assam, Karnataka, Kerala, Madhya Pradesh, Tamil Nadu, Punjab, and Haryana.
India Tractor Market Size Breakdown by Segment
The India Tractor Market report offers comprehensive market segmentation analysis along with market estimation for the period 2014–2030.
Based on Type
Based on Engine Power
Based on Application
Based on State
Get a bespoke market intelligence solution
Our dedication to providing the most-accurate market information has earned us verification by Dun & Bradstreet (D&B). We strive for quality checking of the highest level to enable data-driven decision making for you
Our insights into the minutest levels of the markets, including the latest trends and competitive landscape, give you all the answers you need to take your business to new heights
With 24/7 research support, we ensure that the wheels of your business never stop turning. Don’t let time stand in your way. Get all your queries answered with a simple phone call or email, as and when required
We take a cautious approach to protecting your personal and confidential information. Trust is the strongest bond that connects us and our clients, and trust we build by complying with all international and domestic data protection and privacy laws