(Entertainment-NewsWire.com, February 13, 2019 ) Agriculture is an important sector of the Indian economy, with over 70% of the country's population depending on it as their major source of income. India holds the second position in the world in agricultural production. Currently, India is the largest producer of spices, pulses, milk, tea, cashew and jute, and the second largest producer of wheat, rice, fruits and vegetables, sugarcane, cotton, and oilseeds. In terms of agricultural contribution, some of the most developed states in India are Punjab, Uttar Pradesh, Madhya Pradesh, Haryana, Bihar, Andhra Pradesh, Maharashtra, West Bengal, and Gujarat. The growth of India's agriculture sector has also boosted the agricultural machinery market in India. According to Netscribes research, the Indian agricultural machinery market is projected to grow at a CAGR of around 6.6% to reach INR 769.2 billion by FY 2022.
India is the largest tractor market in the world and the 41-50 HP is the largest selling segment. It accounted for 44% of the total tractor sales in FY 2015. Tractors and power tillers have played a vital role in the overall development of agriculture in the country.
Key growth factors Government initiatives such as Kisan Credit Card, National Mission on Agricultural Mechanization (NMAM), and Tractor Subsidy Scheme have contributed to the growth of the machinery market. Easy availability and access to low cost credit is another reason for growth in the market. This helps farmers invest in assets, obtain greater yield and income. Strong governmental regulations on the availability of finance for agricultural mechanization tools, rural development, and high irrigation potential will drive the agricultural farm machinery industry in India.
Threats and key players
High cost of agricultural machines is one of the major challenges hampering the growth of agricultural machinery market in India. Agricultural machines are capital-intensive. As a result, it is a major investment for small and marginal farmers. The overall land holding in India is fragmented, which is another threat to the market. Fragmentation of land leads to lower productivity levels, as farmers cannot make effective use of machinery on small farms. Mahindra and Mahindra, Escorts, VST, and Force Motors are the major players in the agricultural machinery market in India. To stay competitive, the leading players are increasingly striving to provide innovative, cost-effective, and high-quality services to consumers.
Socioeconomic Indicators Slide 2: Total Population (2010-2011 - 2019-2020), Population Density (2010-2011 - 2019-2020) Slide 3: Sex Ratio (2005, 2010, 2015, 2020), Population by Age Group (2005, 2010, 2015, 2020), Urbanization Trend (2010-2011 - 2019-2020) Slide 4: Total Fertility Rate (2005-2010, 2010-2015, 2015-2020), Infant Mortality Rate (2005-2010, 2010-2015, 2015-2020), Total Number of Births (2005-2010, 2010-2015, 2015-2020), Total Number of Death (2005-2010, 2010-2015, 2015-2020) Slide 5: Total Literacy Rate (2001, 2011), Rural Literacy (2001, 2011), Urban Literacy (2001, 2011) Slide 6: GDP at Market Prices (2012-2017), FDI (2012-2016), Inflation Rate (2011-2017), Unemployment Rate (2012-2016) Slide 7: Access to Safe Drinking Water (2001, 2011), Exchange Rate (2010-2016)
Market Overview Slide 8: Market Definition and Structure Slide 9: Key Facts - Agriculture Sector in India Slide 10: Evolution of Agriculture in India Slide 11: Agriculture Employment Scenario Slide 12-13: Types Farming - Overview Slide 14: Agriculture Value Chain Slide 15: Level of Mechanization by Crop across the Value Chain (FY 2014) Slide 16: Global Current Market Scenario, Agricultural Machinery Global Market size & Growth Forecast (Value-Wise; FY 2015 - FY 2022e) Slide 17: India Current Market Scenario, Agricultural Machinery India Market Size & Growth Forecast (Value-Wise; FY 2015 - FY 2022e) Slide 18: India Current Market Scenario, Tractor Market Size (Value-Wise; FY 2010 - FY 2014) and Power Tiller Market Size (Value-Wise; FY 2010 - FY 2014) Slide 19: India Current Market Scenario, Thresher Market Size (Value-Wise; FY 2010 - FY 2014) and Rotavator Market Size (Value-Wise; FY 2010 - FY 2014) Slide 20: Market Segmentation - Agricultural and Non Agricultural Usage of Tractors, Growth of Tractors Slide 21: Market Segmentation - Player-Wise Segmentation of 6 Major Players in the Tractor Industry (FY 2014 - FY 2016) Slide 22: Market Segmentation - Tractor Sales by Segment (FY 2011 and FY 2015) Slide 23-24: Geographic Segmentation - Key Agriculture States and Their Contributions Slide 25: Geographic Segmentation - Based on Availability of Agricultural Machinery Manufacturers Slide 26: Geographic Segmentation - Based on Type of Manufacturers in India Slide 27-28: PESTEL Analysis
Government Influencers Slide 40: National Mission on Agricultural Mechanization Slide 41: Sub-Mission on Agricultural Mechanization and Agricultural Machinery Subsidy Scheme by Government of India Slide 42: Tractor Subsidy Scheme by Government of India Slide 43: Pradhan Mantri Krishi Sinchai Yojana Slide 44: Implication of GST on Agricultural Machinery
Market Trends Slide 45-46: Custom Hiring in Agriculture Machinery
Competitive Landscape Slide 47: List of Major Players Slide 48-79: Profiles of Major Players
Research Report Hub Research Report Hub offers wide-ranging collection of market research reports under virtually every market verticals and sub-categories from different publishers across the globe. We offer reliable market intelligence reports and report customization services to better understand current and projected market scenarios. It also gives a clearer depiction of industries and facilitates to simply perceive competitor activity in the respective industry. Our services are also geared towards helping organizations procure market reports at the finest price. About US
Research Report Hub Sector 04, Plot 101, Sant Nagar, Moshi PCNDTA, Pune, 412105 Maharashtra, India