India Agricultural Equipment Market Report 2018: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2017-2023 - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--Nov 14, 2018--The “Indian Agricultural Equipment Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2018-2023” report has been added to ResearchAndMarkets.com’s offering.
The Indian agricultural equipments market was worth INR 857 Billion in 2017. The market is further projected to reach INR 1,245 Billion by 2023, at a CAGR of 6.3% during 2018-2023.
Over the last few years, there has been a considerable progress in agriculture mechanization. A significant proportion of farmers in the country have already started moving from using animate sources to mechanical equipments to power their farming activities. Mechanical equipments for various farm operations like tillage, sowing, irrigation, plant protection and threshing, etc., are generally being used by the farming community.
As a result of increasing farm mechanization trends, the agricultural equipment market has witnessed strong growth in the past few years. This market is currently being driven by a number of factors such as easy availability of credit, government incentives, increasing agricultural productivity, emergence of contract farming, increasing rural incomes.
Indian Agricultural Equipment Market: Drivers
Labour Shortage: Labour shortage has been a major reason that has driven farmers towards farm mechanization. Large scale migration from rural to urban areas and a number of rural employment schemes have created a labour shortage in rural areas. For instance, the National Rural Employment Guarantee Agency (NREGA) has had in many places a ripple effect - labour shortage leading to farm mechanization. The implementation of this scheme has significantly reduced the inflow of seasonal migrant labourers from Bihar and UP to states like Haryana and Punjab during the crucial sowing and transplantation season. As a result, the demand for farm machines in these states has witnessed a significant increase.
Ease of Financing: In recent years, a number of banks and microfinance institutions have been set all across rural India. This has provided farmers an easy availability of credit to purchase farm machinery.
Government Incentives: Incentives in the form of subsidies, low import duties on agricultural machinery and easy financing schemes by the Indian government has also been a major driver of the farm equipments market in India.
Rising incomes: As a result of strong economic growth and agricultural productivity, the income levels of rural households have been continuously increasing over the last few years. Rising incomes have enabled farmers to significantly increase their spending on agriculture mechanization.
Large Untapped Market: Despite strong growth in recent years, the penetration of tractors and a number of related equipments still remains relatively low. This is expected to leave a lot of room for future growth.
Emergence of Contract Farming: The emergence of contract farming is also expected to give a strong boost to the agricultural equipments market in India. We expect contract farming to enable farmers to get the benefit of technology, training and financing with the contractor’s support. This is expected to facilitate the adoption of mechanized farming practices.
Market Summary:Based on the equipment type, the market has been segmented as tractors, trailers, harvesters, planting equipment, irrigation and crop processing equipment, spraying equipment, hay and forage equipment and others On the basis of application, the market has been segmented as land development and seed bed preparation, sowing and planting, weed cultivation, plant protection, harvesting and threshing, and post-harvest and agro processing On the basis of region, the market has been segmented as North India, South India, East India and West India. The competitive landscape of the market has also been examined in the report and the profiles of key players have also been provided.
Key Topics Covered:
2 Scope and Methodology
2.1 Objectives of the Study
2.3 Data Sources
2.4 Market Estimation
2.5 Forecasting Methodology
3 Executive Summary
4.2 Key Industry Trends
5 India Agriculture Equipment Market
5.1 Market Overview
5.2 Market Performance
5.3 Market Breakup by Equipment Type
5.4 Market Breakup by Application
5.5 Market Breakup by Region
5.6 Market Forecast
5.7 SWOT Analysis
5.8 Value Chain Analysis
5.9 Porters Five Forces Analysis
5.10 Price Analysis
5.10.1 Price Indicators
5.10.2 Price Structure
5.10.3 Margin Analysis
6 Market Breakup by Equipment
6.4 Planting Equipment
6.5 Irrigation and Crop Processing Equipment
6.6 Spraying Equipment
6.7 Hay and Forage Equipment
7 Market Breakup by Application
7.1 Land Development and Seed Bed Preparation
7.2 Sowing and Planting
7.3 Weed Cultivation
7.4 Plant Protection
7.5 Harvesting and Threshing
7.6 Post-Harvest and Agro Processing
8 Market Breakup by Region
8.1 North India
8.2 South India
8.3 West India
8.4 East India
9 Competitive Landscape
9.1 Market Structure
9.2 Key Players
9.3 Profiles of Key Players
For more information about this report visit https://www.researchandmarkets.com/research/fjbh3m/india?w=4
View source version on businesswire.com:https://www.businesswire.com/news/home/20181114005438/en/
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Related Topics:Agricultural Machinery and Equipment
KEYWORD: ASIA PACIFIC INDIA
INDUSTRY KEYWORD: MANUFACTURING AUTOMOTIVE MANUFACTURING NATURAL RESOURCES AGRICULTURE AUTOMOTIVE OTHER AUTOMOTIVE
SOURCE: Research and Markets
Copyright Business Wire 2018.
PUB: 11/14/2018 06:54 AM/DISC: 11/14/2018 06:53 AM