Market Forecast By Products (Tractors (Up To 30 HP, 30.1 HP- 70 HP, 70.1 HP- 130 HP, 130.1 HP- 200 HP And Above 200 HP), Harvesters (Up To 30 HP, 30.1 HP- 70 HP, 70.1 HP- 130 HP, 130.1 HP- 200 HP And Above 200 HP), Threshers (Up To 30 HP, 30.1 HP- 70 HP, 70.1 HP- 130 HP, 130.1 HP- 200 HP And Above 200 HP), Pumps (Up To 30 HP, 30.1 HP- 70 HP, 70.1 HP- 130 HP, 130.1 HP- 200 HP And Above 200 HP), Power Tillers (Up To 30 HP And 30.1 HP- 70 HP), Rotavators (Up To 30 HP, 30.1 HP- 70 HP And 70.1 HP- 130 HP) And Others Including Rice Transplanters, Weeders, Excavators And Farm Carriers)) And Competitive Landscape
Product Code: ETC000963 | Publication Date: Aug 2023 | Product Type: Report | |
Publisher: 6Wresearch | No. of Pages: 70 | No. of Figures: 35 | No. of Tables: 5 |
India Agriculture Equipment Market registered a decline of -10.86% in value shipments in 2022 as compared to 2021 and an increase of 0.59% CAGR in 2022 over a period of 2017. In Agriculture Equipment Market India is becoming more competitive as the HHI index in 2022 was 3968 while in 2017 it was 5356. Herfindahl Index measures the competitiveness of exporting countries. The range lies from 0 to 10000, where a lower index number represents a larger number of players or exporting countries in the market while a large index number means less numbers of players or countries exporting in the market. India has reportedly relied more on domestic production to meet its growing demand in Agriculture Equipment Market.
India is shifting towards local production to meet its demand as we see the trend is shifting towards reducing imports. The import factor of Agriculture Equipment Market in 2022 was 0.3 while in 2017 it was 0.84. China, USA, Netherlands, Italy and Viet Nam were among the top players of the market in 2022, where China acquired the largest market share of 60.9% with a shipment value of 16.7 million USD in 2022 China also offered the product above the average market price, but remained at the leadership position indicating the trust it holds in the Agriculture Equipment Market. In 2017 China had the largest market share of 72.28% with the shipment value of 21.46 million USD. The country was offering its product with an average price which is lower than the average market price offered in the country. As China price is lower than the average price, it provided a significant edge among other competitor in 2017.
India Agriculture Equipment Market has been growing steadily in recent years by increasing population, growing demand for food, and government initiatives to streamline the agriculture sector. The government continues to invest in the agriculture sector which focuses on initiatives such as improving irrigation infrastructure and promoting public-private partnerships. Another factor contributing to the growth of the agriculture equipment industry in India is the increasing use of precision farming techniques. Currently, farmers are increasingly using GPS-based systems, drones, and other precision agriculture technologies to improve the efficiency and productivity of their operations.
India is working towards increasing the mechanization of its agriculture sector, which is likely to boost the growth of the agriculture equipment market. However, low levels of awareness about modern agriculture equipment, lack of access to finance, and inadequate infrastructure in rural areas are expected to hinder the growth of the market to some extent. The agriculture equipment market in India is expected to continue to grow in the coming years through government initiatives, the increasing use of technology in this sector, and the growing demand for food. The development of electric tractors is a key project in India's agriculture equipment market. The government is encouraging the use of electric tractors due to their environment-friendly nature.
India is one of the world's leading producers of agricultural products, and the country's agriculture equipment market is consequently quite large. However, the market has been facing some challenges in recent years. One of the main challenges is the high cost of equipment. Farmers in India have to contend with a number of costs, including labor costs, land costs, and seed costs. As a result, they often cannot afford to invest in new equipment. Another challenge facing the agriculture equipment market in India is the lack of availability of spare parts. This is a particular problem for older equipment, which may be difficult to find parts for. This can make it difficult and expensive to keep equipment in good working order. The India Agriculture Equipment Market is a part of the Asia Pacific agriculture equipment market and global agriculture equipment market.
According to 6Wresearch, the India Agriculture Equipment Market size is likely to witness growth during 2022-28. The market is driven by the increasing demand for farm mechanization, government initiatives to promote agricultural productivity, and the growing adoption of precision farming technologies. Additionally, the market is mainly driven by the growing population, which is leading to an increase in the demand for food. This is resulting in an increase in the area under cultivation, which is leading to an increase in the demand for agricultural equipment. The Indian government's initiatives to promote agricultural mechanization are also expected to boost market growth. The government has launched several schemes such as Pradhan Mantri Fasal Bima Yojana and Pradhan Mantri Krishi Sinchai Yojana to encourage farmers to adopt modern methods of farming. These initiatives are expected to create a positive outlook for market growth. However, the high cost of agricultural equipment is expected to restrain the market growth. Farmers in India are mostly small and marginal farmers who cannot afford expensive equipment. This is leading them to rely on traditional methods of farming, which is hampering the market growth.
On the basis of product type, the market is classified into tractors, harvesters, threshers, mowers and others. Tractors account for the largest share of the market due to their widespread use in agriculture. Harvesters are used for harvesting crops like wheat and rice. Threshers are used for threshing grains from the crop. Mowers are used for cutting grass and other vegetation. Others include equipment like ploughs, tillers and seeders.
The India agriculture equipment market is highly competitive with a large number of small and medium-sized players. The key players are focused on expanding their product offerings and strengthening their distribution channels to gain a competitive edge in the market. These companies have a strong presence in the country with a wide product portfolio and a strong distribution network. The competitive landscape of the India Agriculture Equipment Market is highly fragmented. The market consists of a large number of small and medium-sized players, who together account for a significant share of the total market. The competitive landscape of the India Agriculture Equipment Market is expected to change significantly over the next few years. This is due to the entry of new players from China, who are expected to compete with the existing players in terms of price and quality.
In the initial years of the outburst of the Covid-19 pandemic, the market has witnessed a slump. The Indian agriculture equipment market is currently being driven by a number of factors. One of the most important drivers is the increasing mechanization of agriculture. This is leading to an increased demand for agricultural equipment, such as tractors and combined harvesters. In addition, the government of India is providing various subsidies and incentives to farmers to encourage them to purchase agricultural equipment. These subsidies are expected to drive further growth in the market.
Major players operating in the India Agriculture Equipment Market are:
The report delivers a widespread study of the subsequent market segments:
1. Executive Summary |
2. Introduction |
2.1. Report Description |
2.2. Key Highlights of the Report |
2.3. Market Scope & Segmentation |
2.4. Methodology Adopted and Key Data Points |
2.5. Assumptions |
3. India Agriculture Equipment Market Overview |
3.1. India Agriculture Equipment Market Revenues and Volume, 2018-2028F |
3.2. India Agriculture Equipment Market Industry Life Cycle, 2018 |
3.3. India Agriculture Equipment Market Porter’s Five Forces |
3.4. India Agriculture Equipment Market Revenue and Volume Share, By Equipment, 2021 & 2028F |
4. India Agriculture Equipment Market Dynamics |
4.1. Impact Analysis |
4.2. Market Drivers |
4.3. Market Restraints |
5. India Tractor Market Overview |
5.1. India Tractor Market Revenues and Volume, 2018-2028F |
5.2. India Tractor Market Revenue Share, By HP Range, 2021 & 2028F |
5.3. India Tractor Market Volume Share, By HP Range, 2021 & 2028F |
5.4. India Tractor Market Revenues and Volume, By HP Range, 2018-2028F |
5.5. India Tractor Market Price Trend, By HP Range, 2018-2028F |
6. India Harvester Market Overview |
6.1. India Harvester Market Revenues and Volume, 2018-2028F |
6.2. India Harvester Market Revenue Share, By HP Range, 2021 & 2028F |
6.3. India Harvester Market Volume Share, By HP Range, 2021 & 2028F |
6.4. India Harvester Market Revenues and Volume, By HP Range, 2018-2028F |
6.5. India Harvester Market Price Trend, By HP Range, 2018-2028F |
7. India Thresher Market Overview |
7.1. India Thresher Market Revenues and Volume, 2018-2028F |
7.2. India Thresher Market Revenue Share, By HP Range, 2021 & 2028F |
7.3. India Thresher Market Volume Share, By HP Range, 2021 & 2028F |
7.4. India Thresher Market Revenues and Volume, By HP Range, 2018-2028F |
7.5. India Thresher Market Price Trend, By HP Range, 2018-2028F |
8. India Pumps Market Overview |
8.1. India Pumps Market Revenues and Volume, 2018-2028F |
8.2. India Pumps Market Revenue Share, By HP Range, 2021 & 2028F |
8.3. India Pumps Market Volume Share, By HP Range, 2021 & 2028F |
8.4. India Pumps Market Revenues and Volume, By HP Range, 2018-2028F |
8.5. India Pumps Market Price Trend, By HP Range, 2018-2028F |
9. India Power Tiller Market Overview |
9.1. India Power Tiller Market Revenues and Volume, 2018-2028F |
9.2. India Power Tiller Market Revenue Share, By HP Range, 2021 & 2028F |
9.3. India Power Tiller Market Volume Share, By HP Range, 2021 & 2028F |
9.4. India Power Tiller Market Revenues and Volume, By HP Range, 2018-2028F |
9.5. India Power Tiller Market Price Trend, By HP Range, 2018-2028F |
10. India Rotavator Market Overview |
10.1. India Rotavator Market Revenues and Volume, 2018-2028F |
10.2. India Rotavator Market Revenue Share, By HP Range, 2021 & 2028F |
10.3. India Rotavator Market Volume Share, By HP Range, 2021 & 2028F |
10.4. India Rotavator Market Revenues and Volume, By HP Range, 2018-2028F |
10.5. India Rotavator Market Price Trend, By HP Range, 2018-2028F |
11. India Other Agriculture Equipment Market Overview |
11.1. India Other Agriculture Equipment Market Revenues and Volume, 2018-2028F |
12. India Key Performance Indicators |
13. India Agriculture Equipment Market Opportunity Assessment |
13.1. India Agriculture Equipment Market, Opportunity Assessment, By Equipment, 2028F |
14. India Agriculture Equipment Market Competitive Landscape |
14.1. India Agriculture Equipment Market Revenue Share, By Companies, 2021 |
15. Company Profiles |
16. Strategic Recommendations |
17. Disclaimer |
Market Forecast By Products (Tractors (Up To 30 HP, 30.1 HP- 70 HP, 70.1 HP- 130 HP, 130.1 HP- 200 HP And Above 200 HP), Harvesters (Up To 30 HP, 30.1 HP- 70 HP, 70.1 HP- 130 HP, 130.1 HP- 200 HP And Above 200 HP), Threshers (Up To 30 HP, 30.1 HP- 70 HP, 70.1 HP- 130 HP, 130.1 HP- 200 HP And Above 200 HP), Pumps (Up To 30 HP, 30.1 HP- 70 HP, 70.1 HP- 130 HP, 130.1 HP- 200 HP And Above 200 HP), Power Tillers (Up To 30 HP And 30.1 HP- 70 HP), Rotavators (Up To 30 HP, 30.1 HP- 70 HP And 70.1 HP- 130 HP) And Others Including Rice Transplanters, Weeders, Excavators And Farm Carriers)) And Competitive Landscape
Product Code: ETC000963 | Publication Date: Feb 2022 | Product Type: Report | |
Publisher: 6Wresearch | No. of Pages: 70 | No. of Figures: 35 | No. of Tables: 5 |
India Agriculture Equipment Market is projected to grow over the coming years. South Africa Agriculture Equipment Market report is a part of our periodical regional publication Asia Pacific Agriculture Equipment Market outlook report. 6W tracks Agriculture Equipment Market for over 60 countries with individual country-wise market opportunity assessment and publishes the market with the report titled Global Agriculture Equipment Market outlook report annually.
India Agriculture Equipment Market report thoroughly covers market by Products type and HP range. The market report provides an unbiased and detailed analysis of the on-going market trends, opportunities/high growth areas and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.
India Agriculture Equipment Market Synopsis
India Agriculture Equipment Market is anticipated to gain momentum during the upcoming years owing to the rising disposable income. The rising shortage of farm labourers backed by increasing cost associated with it is driving the India Agriculture Equipment Market Growth. Additionally, the increasing penetration towards usage of modern technology coupled with adoption of modern equipment beholds the rising development of the Market. Upsurge in the population backed by rising pressure on the land to increase the productivity is also adding to the India Agriculture Equipment Market Share.
According to 6Wresearch, India Agriculture Equipment Market size is projected to register growth during 2021-2027. Increasing government initiative such as providing loan on low interest rate and subsidy. Additionally, advancement of technology backed by increasing number of farm activities in the country is adding to the India Agriculture Equipment Market Revenue. However, the market suffered a major setback due to the outburst of COVID-19 leading to the worldwide restriction. The nationwide lockdown led to the disruption in the supply chain.
Market Analysis by product
On the basis of product, the tractors segment occupied the largest share on account of increasing adoption of equipment.
Key Attractiveness of the Report
Key Highlights of the Report:
Market Scope and Segmentation
The report provides a detailed analysis of the following market segments:
Market Forecast By Products (Tractors ( Up to 30 HP, 30.1 HP- 70 HP, 70.1 HP- 130 HP & 130.1 HP- 200 HP), Harvesters (Up to 30 HP, 30.1 HP- 70 HP, 70.1 HP- 130 HP & 130.1 HP- 200 HP), Threshers (Up to 30 HP & 30.1 HP- 70 HP), Pumps (Up to 30 HP, 30.1 HP- 70 HP, 70.1 HP- 130 HP, 130.1 HP- 200 HP & Above 200 HP), Power Tillers (Up to 30 HP & 30.1 HP- 70 HP), Rotavators ( Up to 30 HP, 30.1 HP- 70 HP & 70.1 HP- 130 HP and Other Agriculture Equipment) and Competitive Landscape.
Product Code: ETC000963 | Publication Date: Dec 2019 | Product Type: Report | |
Publisher: 6Wresearch | No. of Pages: 106 | No. of Figures: 43 | |
India is the second-largest market of agriculture equipment in the Asia Pacific region. Easy financing options, government support in the form of subsidies given under the Sub-Mission on Agriculture Mechanization Scheme, the growing population as well as increasing demand for food items have played well to give a boost to the demand for India agriculture equipment market. Additionally, the year 2017 is recognized by the industry experts as an abnormal period due to double-digit growth in the agriculture equipment market on account of favorable weather conditions for agriculture in that period. However, the same trend is not expected to sustain over the coming years. The market growth returned to normal in 2018 and the market is anticipated to grow at a slower pace till 2022 on account of lesser rains and shrinking farmers' income.
According to 6Wresearch, India Agriculture Equipment Market size is projected to grow at a CAGR of 9.5% during 2019-25. The market is expected to grow at a slower pace till 2022, however, the market would witness sound growth on account of favorable government policies to double farmers’ income and good weather conditions which the country is expected to witness during the forecast period.
Amongst all the products, the market for tractors acquired the highest volume share in the India agriculture equipment market in the year 2018 and would continue to maintain its dominance during the forecast period as well. After the market for tractors, the market volume of power tillers is expected to grow at the fastest rate during 2019-2025. Moreover, 30.1- 70 HP tractors acquire the majority of the market share in the overall market of tractors, harvesters, rotavators and threshers in India. For pumps and power tillers, up to 30 HP is the major contributor to the overall volume of these products in 2018.
The India agriculture equipment market report thoroughly covers the market by equipment, by HP range, and by regions, India agriculture equipment market outlook report provides an unbiased and detailed analysis of the on-going India agriculture equipment market trends, opportunities/ high growth areas, market drivers, which would help stakeholders to device and align market strategies according to the current and future market dynamics.
India agriculture equipment market is anticipated to witness growth during the forecast period 2020-26F backed by a rise in consumption, low water requirements in horticulture, advanced technologies, and rising adoption of technically innovative farm machinery and restrain the use of traditional machinery. Further, the expansion of arable land for cultivation is also expected to raise significant demand projections for Bahrain agriculture and farm machinery. Rising government efforts towards enhancement of the agriculture sector to improve the productivity and supporting sound growth of the respective sector is expected to raise considerable demand projections for agriculture equipment in Bahrain in the near future and contribute towards the sound growth of the Bahrain agriculture equipment market in the coming years.
Key Highlights of the Report:
India Agriculture Equipment Market Report Covered:
The report provides a detailed analysis of the following market segments: