5th Floor, Rajapushpa Summit
Nanakramguda Rd, Financial District, Gachibowli
Hyderabad, Telangana - 500008
India
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:
Key Industry Players
Major companies operating in the segment are:
Key Deliverables in the Study
5th Floor, Rajapushpa Summit
Nanakramguda Rd, Financial District, Gachibowli
Hyderabad, Telangana - 500008
India
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