The Indian wheeled tractor machinery market, estimated at USD XX billion in 2016 is expected to reach USD XX billion by 2021, at a CAGR of 7% over the forecast period. Tractors provide the power and traction to automate agricultural jobs, especially tillage. Agricultural implements are towed behind a tractor, which then provides a source of power for the mechanization of implements. The agricultural usage of tractors is the largest segment in the sector. Improvement in efficiency is one of one of the reasons why tractors are popularly employed by farmers. Besides, demand from emerging economies and the high level of government support in these regions are fueling the growth of the industry.
Market Dynamics
The driving forces of the market are the increasing population, growing demand for food, and the necessity to amplify yield and productivity. Future of tractor machinery market appears optimistic. The government provides subsidies to farmers for mechanization of agriculture and this is expected to provide a steady growth in the future. Low purchasing power is a hindrance to the otherwise lucrative market.
Market Segmentation
On the basis of the wheel tractor type, the market is segmented into:
- Utility tractors
- Row crop tractors
- Orchard type tractor
- Industrial tractor
- Garden tractor
- Rotary tillers
- Implement carrier
- Earth moving tractor
Key Industry Players
Major companies operating in the segment are:
- Deere and Company
- CNH North America NV
- AGCO Tractor
- Massey Ferguson
- Mahindra & Mahindra
- TAFE
- Escorts
Key Deliverables in the Study
- Market analysis of the India wheeled tractor machinery market, with region specific assessments and competition analysis on national and regional scales.
- Market definition along with the identification of key drivers and restraints.
- Identification of factors instrumental in changing the market scenarios, rising prospective opportunities, and identification of key companies that can influence this market on a national and regional scale.
- Extensively researched competitive landscape section with profiles of major companies along with their market shares.
- Identification and analysis of the macro and micro factors that affect the India wheeled tractor machinery market on both national and regional scales.
- A comprehensive list of key market players along with the analysis of their current strategic interests and key financial information.
- Wide-ranging knowledge and insights about the major players in this industry and the key strategies adopted by them to sustain and grow in the studied market.
- Insights into the major countries in which this industry is growing and identifying the regions still untapped.
