Indian Agricultural Equipment MarketThe India agricultural equipment market reached a value of INR 954.3 Billion in 2020. Looking forward, IMARC Group expects the market to exhibit moderate growth during 2021-2026.The latest report by IMARC Group, titled “Indian Agricultural Equipment Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026,” the India agricultural equipment market reached a value of INR 954.3 Billion in 2020. Looking forward, IMARC Group expects the market to exhibit moderate growth during 2021-2026
Agricultural equipment aids in increasing farming productivity with lesser efforts and reduced costs. Some of the commonly used equipment include cultivators, tractors, planters and mowing tools. Widely available across India at affordable costs, they are extensively utilized for performing day-to-day activities, including irrigating, tilling, sowing, and threshing.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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India Agricultural Equipment Market Trends:
The market in India is primarily driven by significant growth in the agriculture sector. This, coupled with the inflating income levels of the farmers, has enabled them to significantly invest in efficient agricultural equipment, thus driving the market growth. Furthermore, increasing support by the government of India in the form of subsidies and incentives, such as easy financing schemes and low import duties on agricultural machinery, has positively influenced the market growth. Moreover, the availability of easy credit by several banks across rural India has also provided a boost to market growth. Other factors, including shortage of labor and the growing popularity of contract farming, are further anticipated to contribute to the market growth.
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India Agricultural Equipment Market 2021-2026 Analysis and Segmentation:
Breakup by Type:
- Tractors
- Trailer
- Harvesters
- Planting Equipment
- Irrigation and Crop Processing Equipment
- Spraying Equipment
- Hay and Forage Equipment
- Others
Breakup by Application:
- Land Development and Seed Bed Preparation
- Sowing and Planting
- Weed Cultivation
- Plant Protection
- Harvesting and Threshing
- Post-Harvest and Agro-Processing
Breakup by Region:
- North India
- South India
- West India
- East India
Competitive Landscape:
The competitive landscape of the market has also been analyzed in the report with the detailed profiles of the major players operating in the market.
Key highlights of the Report:
- Market Performance (2015-2020)
- Market Outlook (2021-2026)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
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