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Agricultural Machinery Market Overview: Demand Analysis & Growth Opportunities by 2019-2023

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Agricultural Machinery Market Overview: Demand Analysis & Growth Opportunities by 2019-2023

September 16
20:12 2019
Agricultural Machinery Market Overview: Demand Analysis & Growth Opportunities by 2019-2023

Agricultural Machinery Market
Agricultural Machinery Market was valued at INR 575 Bn in 2017, and is expected to expand at a compound annual growth rate (CAGR) of ~6.40% from 2018 to 2023. Frequent innovations in the designs and functions of agricultural equipment is the major driving force of the industry.

HTF MI recently introduced Agricultural Machinery Market study with in-depth overview, describing about the Product / Industry Scope, Size, Status, elaborates market outlook and Growth Opportunities by 2019 to 2023. The market Study is segmented by key regions which is accelerating the marketization. At present, the market is developing its presence and some of the key players Involved for the study such as TAFE Motors and Tractors Limited, John Deere India Private Limited, Mahindra and Mahindra Limited, CNH Industrial (India) Private Limited, and Escorts Limited are some of the major players operating in the market. 

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This report studies the Agricultural Machinery market size, industry status and forecast, competition landscape and growth opportunity. This research report categorizes the Agricultural Machinery market by companies, region, type and end-use industry. 

“The Indian farming sector is reliant to a great extent on agricultural equipment, since it helps in increasing productivity, at reduced costs, with lower human and animal effort. Some of the common agricultural machinery used in India include cultivators, tractors, and planters mowing tools. The central government of India has proposed several initiatives focusing on ‘on-farm mechanizations’, which are aiding the penetration of advanced machinery in the agricultural sector of the country.

 Market insights:

 The Indian agricultural machinery market was valued at INR 575 Bn in 2017, and is expected to expand at a compound annual growth rate (CAGR) of ~6.40% from 2018 to 2023. Frequent innovations in the designs and functions of agricultural equipment is the major driving force of the industry. After the implementation of the goods and services tax (GST), agricultural equipment like tractors and drip irrigators were put under the 12% tax slab, and agricultural implements, which includes plow, threshers, axes, and powrahs, were put under the 28% tax slab. The imposition of these taxes has put extra pressure on Indian farmers, thus affecting their productivity. TAFE Motors and Tractors Limited, John Deere India Private Limited, Mahindra and Mahindra Limited, CNH Industrial (India) Private Limited, and Escorts Limited are some of the major players operating in the market.

 Product-wise segment insights:

 The tractor segment had the largest share (~81%) of the market in FY 2017. Continuous efforts by the government to hasten the adoption of mechanization, by making tractors affordable, has resulted in a significant rise in the demand for these equipment. Apart from tractors, ~19% of the market share had been acquired jointly by rotavators, threshers and power tillers, in FY 2017.

 Player-wise segment insights:

 Among the major manufacturers of agricultural equipment in India, Mahindra & Mahindra had the largest market share (~41%) in FY 2018, followed by Tractor and Farm Equipment Limited (~20%). Mahindra & Mahindra has been able to acquire the largest share in the Indian agricultural machinery market owing to its affordable pricing and easy availability of spare parts in different parts of the country.

 Key growth drivers of the market:

 o The Indian government’s commitment towards rural development through agro-mechanization is likely to boost the agricultural machinery market in India. Also, government subsidies and low import duties on agricultural equipment have made such heavy machinery affordable for farmers, thus increasing sales volumes.

 o Large scale migration from rural to urban areas has led to a shortage of labour in the farming industry. Therefore, to fulfil the rising demand for agricultural products by the growing Indian population, farmers are forced to use automatic machinery that ensure high productivity, in less time, with limited human effort.

 Key deterrents to the growth of the market:

 o In India, the average farm size is less than two hectares. It is difficult for farmers to use heavy equipment on such small farms. As a result, the demand for agricultural machinery is limited to farmers who have larger pieces of land.

 o Despite large-scale mechanization, most of the agricultural operations in India are still carried out through traditional tools like sickle, wooden plough, etc., owing to small per-farmer land-holdings. Also, aftersales service of firm equipment is poor in the country, mainly due to the unavailability of adequate service centers. These factors together, deter the growth of the agricultural machinery market in India. 

 

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Competitive Analysis:
The key players are highly focusing innovation in production technologies to improve efficiency and shelf life. The best long-term growth opportunities for this sector can be captured by ensuring ongoing process improvements and financial flexibility to invest in the optimal strategies. Company profile section of players such as TAFE Motors and Tractors Limited, John Deere India Private Limited, Mahindra and Mahindra Limited, CNH Industrial (India) Private Limited, and Escorts Limited includes its basic information like legal name, website, headquarters, its market position, historical background and top 5 closest competitors by Market capitalization / revenue along with contact information. Each player/ manufacturer revenue figures, growth rate and gross profit margin is provided in easy to understand tabular format for past 5 years and a separate section on recent development like mergers, acquisition or any new product/service launch etc. 

Market Segments:
The Agricultural Machinery Market has been divided into type, application, and region.
On The Basis Of Type: .
On The Basis Of Application:
On The Basis Of Region, this report is segmented into following key geographies, with production, consumption, revenue (million USD), and market share, growth rate of Agricultural Machinery in these regions, from 2013 to 2023 (forecast), covering 
• North America (U.S. & Canada) {Market Revenue (USD Billion), Growth Analysis (%) and Opportunity Analysis}
• Latin America (Brazil, Mexico & Rest of Latin America) {Market Revenue (USD Billion), Growth Share (%) and Opportunity Analysis}
• Europe (The U.K., Germany, France, Italy, Spain, Poland, Sweden & RoE) {Market Revenue (USD Billion), Growth Share (%) and Opportunity Analysis}
• Asia-Pacific (China, India, Japan, Singapore, South Korea, Australia, New Zealand, Rest of Asia) {Market Revenue (USD Billion), Growth Share (%) and Opportunity Analysis}
• Middle East & Africa (GCC, South Africa, North Africa, RoMEA) {Market Revenue (USD Billion), Growth Share (%) and Opportunity Analysis}
• Rest of World {Market Revenue (USD Billion), Growth Analysis (%) and Opportunity Analysis}

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Have a look at some extracts from Table of Content 

Introduction about Agricultural Machinery 

Agricultural Machinery Market Size (Sales) Market Share by Type (Product Category) in 2017 
Agricultural Machinery Market by Application/End Users 
Agricultural Machinery Sales (Volume) and Market Share Comparison by Applications
(2013-2023) table defined for each application/end-users like [] 
Agricultural Machinery Sales and Growth Rate (2013-2023) 
Agricultural Machinery Competition by Players/Suppliers, Region, Type and Application
Agricultural Machinery (Volume, Value and Sales Price) table defined for each geographic region defined. 
Agricultural Machinery Players/Suppliers Profiles and Sales Data 

Additionally Company Basic Information, Manufacturing Base and Competitors list is being provided for each listed manufacturers

Market Sales, Revenue, Price and Gross Margin (2013-2018) table for each product type which include  
Agricultural Machinery Manufacturing Cost Analysis 
Agricultural Machinery Key Raw Materials Analysis 
Agricultural Machinery Chain, Sourcing Strategy and Downstream Buyers, Industrial Chain Analysis 
Market Forecast (2018-2023) 
……..and more in complete table of Contents

Browse for Full Report at:

Thanks for reading this article; you can also get individual chapter wise section or region wise report version like North America, Europe or Asia. 

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Website: https://www.htfmarketreport.com/reports/1812341-agricultural-machinery-market-in-india