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Low HP Tractor Market in India - Industry Outlook and Forecast 2019-2024 - ResearchAndMarkets.com

November 27, 2018

DUBLIN--(BUSINESS WIRE)--Nov 27, 2018--The “Low HP Tractor Market in India - Industry Outlook and Forecast 2019-2024” report has been added to ResearchAndMarkets.com’s offering.

The India low HP tractor market is estimated to produce volumes of over 1019 thousand units by 2024, growing at a CAGR of more than 6% during 2018-2024.

Key manufacturers are providing machines on rent to small farmers who cannot afford expensive tractors. For instance, Mahindra has launched a tractor rental services application, Trringo in the Indian market. The increasing adoption of farm mechanization practices that help to improve the crop production will drive transformation in the market over the next few years.

The India low HP tractor market is driven by the growing demand for agriculture equipment from the central and eastern parts of the country. The implementation of subsidies on fertilizers, electricity, and fuel and the government implementing schemes such as Rashtriya Krishi Vikas Yojna and KCC will propel the growth of the Indian market. The market research report provides in-depth market analysis and segmental analysis of the India low HP tractor market by HP, wheel drive, and zones.

The report considers the present scenario of the India low HP tractor market and its market dynamics for the period 2018-2024. It considers all sub-segments of horsepower including 0-20 hp, 20-30 hp, 30-40 ho, 40-50 hp, 50-60 hp, and 60+ hp. It covers a detailed overview of various market growth enablers, restraints, and trends. It also profiles and analyzes leading companies and several other prominent companies operating in the market.

Low HP Tractor Market in India - Dynamics

The rising number of public and private sector companies investing in the agricultural industry is propelling the growth of the low HP tractor market in India. The increasing income levels of population in developing states, inequitable population growth, and an agricultural output coupled with climatic changes affecting the agricultural output are some of the primary factors attributing to the demand for food in the Indian market. Such high demand is encouraging farmers to adopt smart tech solutions in the market. Two of the highest selling brands in the Indian market are Mahindra and Sonalika.

The integration of technologies such as data analytics, telematics, remote sensing, GPS, and mobile technology will make farming more precise and sophisticated in the market. These innovative machines will result in movement with precision to minimize fuel, fertilizers, and seed wastage and contribute to the sales in the low HP tractor market in India.

The growing concerns over environmental pollution are fuelling the demand for biodiesel tractors in the low HP tractor market in India. The low operating costs and low maintenance of biodiesel machines will boost the sale of these products in the Indian market. Leading manufacturers are researching and developing alternative fuels such as bio-diesel and electrical or battery-operated machines to gain a larger consumer group in the low HP tractor market in India.

The major vendors in the India low HP tractor market are:

Mahindra and Mahindra TAFE International Tractors Limited The Escorts Group Deere and Company CNH Industrial

The other prominent players in the India low HP tractor market

SDF Zetor Kubota ACE Tractors Indo Farm Captain Tractors Force Motors VST Tillers Tractors Standard Corp Preet Group

Key Topics Covered:

1 Research Methodology

2 Research Objectives

3 Research Process

4 Report Coverage

4.1 Market Definition

4.2 Base Year

4.3 Scope of Study

5 Report Assumptions & Caveats

5.1 Key Caveats

5.2 Inclusions

5.3 Exclusions

5.4 Currency Conversion

5.5 Market Derivation

6 Market at a Glance

7 Introduction

7.1 Overview

7.1.1 Agriculture Scenario of India

7.1.2 Land Holding Structures and Cropping Intensity: How Farmers Cultivate Crops

7.1.3 Agricultural Exports

7.1.4 Role of Tractors in Indian Agriculture

8 Market Dynamics

8.1 Market Growth Enablers

8.1.1 Increased Financial Support from the Indian Government

8.1.2 Growth in Agricultural Productivity and Exports

8.1.3 Increased Adoption of Farm Mechanization

8.1.4 Migration to Cities Leading to Labor Shortage

8.2 Market Growth Restraints

8.2.1 Rise in Tractor Rental Programs

8.2.2 Lack of Awareness about Agriculture Technology

8.2.3 Marginal and Fragmented Farmlands

8.2.4 Diverse Soil Conditions and Low Access to Credit in Rural Areas

8.3 Market Opportunities & Trends

8.3.1 Emergence of Precision Farming Practices

8.3.2 Usage of Alternate and Non-conventional Fuel in Tractors

9 Global Low HP Tractor Market

9.1 Market Overview

9.2 Market Size and Forecast

10 Low HP Tractor Market In India

10.1 Market Overview

10.2 Market Size and Forecast

10.3 Porter’s Five Forces Analysis

11 By Wheel Drive

11.1 Market Overview

11.1.1 Market by Wheel Drive

11.2 2WD Tractor Market

11.3 4WD Tractor Market

12 Market by HP

12.1 Market Overview

12.2 0-20 HP

12.3 20-30 HP

12.4 30-40 HP

12.5 40-50 HP

12.6 50-60 HP

12.7 60+ HP

13 Market by Zone

13.1 Market Overview

14 Competitive Landscape

14.1 Market Share Analysis

14.2 Brand Loyalty

14.3 Sales and Exports

15 Key Company Profiles

For more information about this report visit https://www.researchandmarkets.com/research/nqsqmn/low_hp_tractor?w=4

View source version on businesswire.com:https://www.businesswire.com/news/home/20181127005524/en/

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Related Topics:Tractors

KEYWORD: ASIA PACIFIC INDIA

INDUSTRY KEYWORD: NATURAL RESOURCES AGRICULTURE

SOURCE: Research and Markets

Copyright Business Wire 2018.

PUB: 11/27/2018 09:01 AM/DISC: 11/27/2018 09:02 AM

http://www.businesswire.com/news/home/20181127005524/en

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