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. What's covered in the report? Overview of the global and Indian agricultural machinery market, and historical and forecasted market size data Trade analysis of the agricultural machinery market Qualitative analysis of the major drivers and challenges affecting the market Key recent developments in the Indian agricultural machinery market Analysis of the competitive landscape and profiles of major public and private players operating in the market Why Buy? Get a broad understanding of the global and Indian agricultural machinery market, the dynamics of the market and the current state of the industry Be informed about the government initiatives deployed in the market Understand the factors driving the growth of the market Identify key growth opportunities in the industry and make informed decisions to increase profitability Understand major competitors' business and market dynamics, and respond accordingly
Table of Contents
Slide 1: Executive Summary 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 Trade Analysis Slide 29: Export of Agricultural, Horticultural / Forestry Machinery for Soil Preparation / Cultivation; Lawn / Sports - Ground Rollers (Value-Wise; FY 2014 - FY 2017) and Export of Agricultural, Horticultural / Forestry Machinery for Soil Preparation / Cultivation; Lawn / Sports - Country-Wise Segmentation (Value-Wise: FY 2016 and FY 2017) Slide 30: Import of Agricultural, Horticultural / Forestry Machinery for Soil Preparation / Cultivation; Lawn / Sports - Ground Rollers (Value-Wise; FY 2014 - FY 2017) and Import of Agricultural, Horticultural / Forestry Machinery for Soil Preparation / Cultivation; Lawn / Sports - Region-Wise Segmentation (Value-Wise: FY 2016 and FY 2017) Slide 31: Farm Machinery Trade - Tractor Trade (Volume-Wise: FY 2009 - FY 2014) Slide 32: Farm Machinery Trade - Combine Harvesters (Volume-Wise: FY 2009 - FY 2014) Market Influencers Slide 33-37: Market Drivers Slide 38-39: Market Challenges 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 Recent Developments Slide 80: Key Recent Developments Appendix Slide 81: Research Methodology
This research report involves complete picture of the market with the help of in-depth secondary and primary research. This research report studies several aspects of the market and analyze vital industry influencers. Extensive secondary research has been conducted using paid as well as open access data sources in order to gather information on the market and parent market. These key findings are then analyzed and validated with the help of in-house data models and primary discussions with key industry participants and experts across the value chain
Research Tools and Models
- Top-Down Approach and Bottom-Up Approach
- QFD Modeling for Market Size and Share Calculation
- Regression, Variable and Impact Analysis
- Penetration Modeling
- It comprises briefing about market dynamics and business opportunities and strategies.
- Finally, all the research findings are validated through interviews with in-house industry experts, freelance consultants and key opinion leaders etc.
It involves various mathematical tools, models, projection, and sampling techniques. It involves following steps:
- Identification of market variables and market size derivation
- Assessment of future prospects, opportunities and market penetration rates by analyzing product commercialization, regional trends etc.
- Evaluation historical market trends and derivation of present and future year-on-year growth trends