Product Code: ETC092503 | Publication Date: Jul 2023 | Product Type: Report | |
Publisher: 6Wresearch | No. of Pages: 70 | No. of Figures: 35 | No. of Tables: 5 |
The India grain dryer market import shipment demonstrated strong growth with a CAGR of 18.4% from 2020 to 2024. However, there was a slight decline in growth rate between 2023 and 2024, indicating a temporary slowdown in the market expansion. Overall, the market trend showcased robust momentum despite a minor dip in growth.
The India grain dryer market is expected to grow at a CAGR of 8.7% during the forecast period.Growing population, increasing incomes and technological advancements are major factors driving the growth of India grain dryer market.
The main drivers for growth of this market include increasing agricultural production, rising demand for processed food grains, improving infrastructure facilities in rural areas leading to increased mechanization of farming activities; rise in number of agro-processing industries; government support through subsidy schemes; availability of low cost labour force; emergence of new technology solutions such as solar powered grain dryers that reduce energy consumption; awareness among farmers about advanced drying techniques etc.
High Initial Investment Cost : High initial investment costs involved in setting up a new grain drying system remain one important challenge inhibiting its adoption rate among small scale farmers due to their limited purchasing power capacity compared to larger players such as commercial producers/ corporate groups who can easily afford them by availing bank loans or other financing options available through government initiatives like PMFBY etc.Thus hampering overall revenue generation prospects from sale of advanced dryers present within India Markets throughout forecasted period.
Major key players operating within IndiaGrain Drying System Market include GSI Group Inc., Agrofrost SRL, New Holland Agriculture Company SPA , Sukup Manufacturing Co., Danagri ??? 3S Ltd , Schule Fordertechnik GMBH , Lockwood Corporation amongst many others