Indian Agricultural Tractor Market, 2019-2023 - Market Dynamics, Competitive Landscape, OEMs Strategies & Plans, Trends & Growth Opportunities, Market Outlook - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--Feb 15, 2019--The “Indian Agricultural Tractor Market - 2019-2023 - Market Dynamics, Competitive Landscape, OEMs Strategies & Plans, Trends & Growth Opportunities, Market Outlook” report has been added to ResearchAndMarkets.com’s offering.
The Indian agricultural tractor market has been on an upswing with the market touching the peak of 6 lakh (600,000) tractor unit sales for FY2017-18 powered by significant tailwinds with a broad-based macroeconomic push, increased allocation by the central & state governments towards farm sector and strong focus on continued pursuit of structural agricultural reforms through roll-out of a number of schemes & support programs along with a major push for mechanization in the country to boost overall efficiency & productivity.
The Agriculture sector in India has traditionally been one of the largest employment generators employing almost 45% of the population and contributing to almost 15% of the GDP; a situation unlike most developed and emerging economies where these numbers are around 3%-5% and 1% to 3% (GDP contribution) respectively. The situation is further compounded by the fact that farmland sizes held by the farmers have been reducing, thereby, impacting the efficiency, overall productivity & farm output significantly with significant scope for efficient farming practices and mechanization based on custom-built solutions for the Indian market.
Tractor sales in India touched the peak of 600,000 units in FY2017-18 with a favorable overall environment with the industry still optimistic and anticipating the tractor sales to touch the 8 lakh units level for FY2018-19 and reach the golden figure of 1 million units by the early to middle of next decade with the industry sales projected to grow at an expected, steady rate of 6%-7% CAGR. This is given the fact that India has around 6 lakh villages and the sales of 6 lakh tractors for FY2017-18 means a penetration rate of mere 1 tractor per village which is bound to go up significantly over the medium term.
Further, India is forecasted to be the fastest growing economy in the world in 2019 and 2020 leveraging lower international crude oil prices and a continued, strong domestic economic growth momentum, as per IMF in its World Outlook report published in January 2019, with the GDP growth pegged at around 7.5%. However, geopolitical tensions & macroeconomic uncertainty marked by the resurgence of multi-polarity and protectionism along with regional issues, like BREXIT and the rising trade tensions pose a significant threat to world GDP growth going forward.
The Indian tractor market is dominated by aboriginal Indian OEMs, namely, Mahindra & Mahindra, TAFE & Escorts. Key international tractor manufacturers, namely, John Deere and CNH have been able to penetrate the market & establish a decent market presence over the two decades after having entered the country in the late 1990s through JVs and establishing their own industrial bases subsequently.
Currently, almost all industry OEMs are gearing up for the anticipated further surge in demand for new tractors over near to medium term through capacity expansion across their manufacturing facilities, development of new tractor models as well as technologies and growing international exports & expansion of presence across international markets.
Relevance & Usefulness:
The report provides insights & inputs to be incorporated into the broader strategic planning & decision making processes and will be essential from a competitive analysis and market entry standpoint as well.
The report will be useful for:Strategic Planning & Decision-Making process Analysis of Near to Medium Term Strategy Focus and Key Strategies & Plans for OEMs Identification of & Insights into Potential Growth Opportunities & Avenues Market Evolution & Demand Growth Projections over Medium Term Analysis of Key Market, Industry & Technology Trends and Developments likely to Shape Future Strategic Market Outlook, Evolution & Demand Growth Projections over Medium Term
Features, Benefits & Reasons to Procure:Provides Macro View and Big Picture Quickly Blend of Quantitative & Qualitative Analysis Significant Time Savings Visual Representation Meetings & Presentation Ready Format Superior & Enriched User Experience with Incorporation of Relevant Images & Infographics
Companies MentionedEscorts Agri Machinery Force Tractors Gromax Agri Equipment Limited Indo Farm Equipment Limited John Deere India Pvt. Ltd. Kubota Agricultural Machinery India Pvt. Ltd. Mahindra Swaraj Tractors New Holland Fiat (India) Pvt. Ltd. SAME DEUTZ-FAHR India Sonalika International Tractors Ltd. TAFE Limited VST Tillers Tractors Ltd.
Section 1 - Indian Agricultural Tractor MarketMarket Overview Market Size Key Drivers Key Segments
Section 2 - Competitive LandscapeIndian Agricultural Tractor Market - Sales Split by Key Market Segments Indian Agricultural Tractor Market - Market Share by OEMs Analysis on OEMs
Section 3 - Top 12 Industry OEMs - Business SnapshotFounded/Start of Operations in India Headquartered Key Business Segments Product Portfolio Revenue Base (For listed companies) Market Capitalization (For listed companies) Key Executives Shareholding/Ownership Structure
Section 4 - Product Portfolio Analysis & Industrial Footprint - Top 12 Industry OEMsIndustrial Footprint in India - Headquarters Manufacturing Plants - Assembly Lines and Component Manufacturing R&D Facilities & Technology Centre Design & Engineering Centers International Subsidiaries Major Product Platforms Key Programs & Models Key Competitors
Section 5 - OEM Strategies & Plans - Analysis of Strategies & Plans for Top 12 Industry OEMsProduct Portfolio Strategies & Plans Market Specific Strategies & Plans R&D Strategies & Plans Growth Strategies & Plans Business and Corporate Strategies & Plans Sales & Marketing Strategies & Plans Production/Manufacturing Strategies & Plans Financial Strategies & Plans Acquisitions, Strategic Alliances & JVs Other Strategies & Strategic Initiatives
Section 6 - Key TrendsIndustry Trends Market Trends Technology Trends
Section 7 - Key Issues, Challenges & Risk Factors
Section 8 - Indian Agricultural Tractor Market - Force Field Analysis - Analysis of Driving & Restraining Forces and their Overall DynamicsDriving Forces Restraining Forces
Section 9 - Strategic Market Outlook through 2022Strategic Market Outlook - Analysis of Emerging Market Scenario Demand Growth Projections through 2023 Insights into Potential Growth Opportunities
For more information about this report visit https://www.researchandmarkets.com/research/5s35zp/indian?w=4
View source version on businesswire.com:https://www.businesswire.com/news/home/20190215005271/en/
Laura Wood, Senior Press Manager
For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
KEYWORD: ASIA PACIFIC INDIA
INDUSTRY KEYWORD: NATURAL RESOURCES AGRICULTURE
SOURCE: Research and Markets
Copyright Business Wire 2019.
PUB: 02/15/2019 09:26 AM/DISC: 02/15/2019 09:26 AM