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Indian Agricultural Equipment Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027

Market Outlook 2022-2027:

The Indian agricultural equipment market reached a value of INR 926 Billion in 2021. Looking forward, IMARC Group expects the market to reach INR 1,689 Billion by 2027, exhibiting a CAGR of 10.6% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic. These insights are included in the report as a major market contributor.

Over the last few years, there has been a considerable progress in agriculture mechanization. A significant proportion of farmers in the country have already started moving from using animate sources to mechanical equipments to power their farming activities. Mechanical equipments for various farm operations like tillage, sowing, irrigation, plant protection and threshing, etc., are generally being used by the farming community. As a result of increasing farm mechanization trends, the agricultural equipment market has witnessed strong growth in the past few years. This market is currently being driven by a number of factors such as easy availability of credit, government incentives, increasing agricultural productivity, emergence of contract farming, increasing rural incomes, etc. 

 

 
 

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Indian Agricultural Equipment Market Drivers:

  • Labour Shortage: Labour shortage has been a major reason that has driven farmers towards farm mechanization. Large scale migration from rural to urban areas and a number of rural employment schemes have created a labour shortage in rural areas. For instance, the National Rural Employment Guarantee Agency (NREGA) has had in many places a ripple effect - labour shortage leading to farm mechanization. The implementation of this scheme has significantly reduced the inflow of seasonal migrant labourers from Bihar and UP to states like Haryana and Punjab during the crucial sowing and transplantation season. As a result, the demand for farm machines in these states has witnessed a significant increase.
  • Ease of Financing: In recent years, a number of banks and microfinance institutions have been set all across rural India. This has provided farmers an easy availability of credit to purchase farm machinery.
  • Government Incentives: Incentives in the form of subsidies, low import duties on agricultural machinery and easy financing schemes by the Indian government has also been a major driver of the farm equipments market in India.
  • Rising incomes: As a result of strong economic growth and agricultural productivity, the income levels of rural households have been continuously increasing over the last few years. Rising incomes have enabled farmers to significantly increase their spending on agriculture mechanization.
  • Large Untapped Market: Despite strong growth in recent years, the penetration of tractors and a number of related equipments still remains relatively low. This is expected to leave a lot of room for future growth.
  • Emergence of Contract Farming: The emergence of contract farming is also expected to give a strong boost to the agricultural equipments market in India. We expect contract farming to enable farmers to get the benefit of technology, training and financing with the contractor’s support. This is expected to facilitate the adoption of mechanized farming practices.


Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the Indian agricultural equipment market, along with forecasts at the country and regional level from 2022-2027. Our report has categorized the market based on equipment and application.

Breakup by Equipment:

 

 
 

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  • Tractors
  • Trailers
  • Harvesters
  • Planting Equipment
  • Irrigation and Crop Processing Equipment
  • Spraying Equipment
  • Hay and Forage Equipment
  • Others 


Based on the equipment, the market has been segmented as tractors, trailers, harvesters, planting equipment, irrigation and crop processing equipment, spraying equipment, hay and forage equipment and 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
     

On the basis of application, the market has been segmented as land development and seed bed preparation, sowing and planting, weed cultivation, plant protection, harvesting and threshing, and post-harvest and agro processing.

Breakup by Region:

  • North India
  • South India
  • West India
  • East India
     

On the basis of region, the market has been segmented as North India, South India, East India and West India.

Competitive Landscape:

The competitive landscape of the market has also been examined in the report and the profiles of key players have also been provided.

This report provides a deep insight into the Indian agricultural equipments market covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter’s five forces analysis, value chain analysis, etc. This report is a must-read for entrepreneurs, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the Indian agricultural equipments market in any manner.

Report Coverage:

Report Features Details
Base Year of the Analysis 2021
Historical Period 2016-2021
Forecast Period 2022-2027
Units INR Billion
Segment Coverage Equipment, Application, Region
Region Covered North India, West India, South India, East India
Customization Scope 10% Free Customization
Report Price and Purchase Option Single User License: US$ 2299
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Delivery Format PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

1   Preface
2   Scope and Methodology

    2.1    Objectives of the Study
    2.2    Stakeholders
    2.3    Data Sources
        2.3.1    Primary Sources
        2.3.2    Secondary Sources
    2.4    Market Estimation
        2.4.1    Bottom-Up Approach
        2.4.2    Top-Down Approach
    2.5    Forecasting Methodology
3   Executive Summary
4   Introduction

    4.1    Overview
    4.2    Key Industry Trends
5   India Agricultural Equipment Market
    5.1    Market Overview
    5.2    Market Performance
    5.3    Impact of COVID-19
    5.4    Market Breakup by Equipment
    5.5    Market Breakup by Application
    5.6    Market Breakup by Region
    5.7    Market Forecast
    5.8    SWOT Analysis
        5.8.1     Overview
        5.8.2     Strengths
        5.8.3     Weaknesses
        5.8.4     Opportunities
        5.8.5     Threats
    5.9    Value Chain Analysis
        5.9.1      Overview
        5.9.2      Research and Development
        5.9.3      Raw Material Procurement
        5.9.4      Manufacturing
        5.9.5      Marketing
        5.9.6      Distribution
        5.9.7      End-Use
    5.10    Porters Five Forces Analysis
        5.10.1    Overview
        5.10.2    Bargaining Power of Buyers
        5.10.3    Bargaining Power of Suppliers
        5.10.4    Degree of Competition
        5.10.5    Threat of New Entrants
        5.10.6    Threat of Substitutes
    5.11    Price Analysis
        5.11.1    Key Price Indicators
        5.11.2    Price Structure
        5.11.3    Margin Analysis
6   Market Breakup by Equipment
    6.1    Tractors
        6.1.1 Market Trends
        6.1.2 Market Forecast
    6.2    Trailers
        6.2.1 Market Trends
        6.2.2 Market Forecast
    6.3    Harvesters
        6.3.1 Market Trends
        6.3.2 Market Forecast
    6.4    Planting Equipment
        6.4.1 Market Trends
        6.4.2 Market Forecast
    6.5    Irrigation and Crop Processing Equipment
        6.5.1 Market Trends
        6.5.2 Market Forecast
    6.6    Spraying Equipment
        6.6.1 Market Trends
        6.6.2 Market Forecast
    6.7    Hay and Forage Equipment
        6.7.1 Market Trends
        6.7.2 Market Forecast
    6.8    Others 
        6.8.1 Market Trends
        6.8.2 Market Forecast
7   Market Breakup by Application
    7.1    Land Development and Seed Bed Preparation
        7.1.1 Market Trends
        7.1.2 Market Forecast
    7.2    Sowing and Planting
        7.2.1 Market Trends
        7.2.2 Market Forecast
    7.3    Weed Cultivation
        7.3.1 Market Trends
        7.3.2 Market Forecast
    7.4    Plant Protection
        7.4.1 Market Trends
        7.4.2 Market Forecast
    7.5    Harvesting and Threshing
        7.5.1 Market Trends
        7.5.2 Market Forecast
    7.6    Post-Harvest and Agro Processing
        7.6.1 Market Trends
        7.6.2 Market Forecast
8   Market Breakup by Region
    8.1    North India
        8.1.1 Market Trends
        8.1.2 Market Forecast
    8.2    South India
        8.2.1 Market Trends
        8.2.2 Market Forecast
    8.3    West India
        8.3.1 Market Trends
        8.3.2 Market Forecast
    8.4    East India
        8.4.1 Market Trends
        8.4.2 Market Forecast
9   Competitive Landscape
    9.1    Market Structure
    9.2    Key Players
    9.3    Profiles of Key Players
 
List of Figures

Figure 1: India: Agricultural Equipment Market: Major Drivers and Challenges
Figure 2: India: Agricultural Equipment Market: Sales Value (in Billion INR), 2016-2021
Figure 3: India: Agricultural Equipment Market: Breakup by Equipment (in %), 2021
Figure 4: India: Agricultural Equipment Market: Breakup by Application (in %), 2021
Figure 5: India: Agricultural Equipment Market: Breakup by Region (in %), 2021
Figure 6: India: Agricultural Equipment Market Forecast: Sales Value (in Billion INR), 2022-2027
Figure 7: Agricultural Equipment Market: Price Structure (INR/Unit)
Figure 8: India: Agricultural Equipment Industry: SWOT Analysis
Figure 9: India: Agricultural Equipment Industry: Value Chain Analysis
Figure 10: India: Agricultural Equipment Industry: Porter’s Five Forces Analysis
Figure 11: India: Agricultural Equipment (Tractors) Market: Sales Value (in Billion INR), 2016 & 2021
Figure 12: India: Agricultural Equipment (Tractors) Market Forecast: Sales Value (in Billion INR), 2022-2027
Figure 13: India: Agricultural Equipment (Trailers) Market: Sales Value (in Billion INR), 2016 & 2021
Figure 14: India: Agricultural Equipment (Trailers) Market Forecast: Sales Value (in Billion INR), 2022-2027
Figure 15: India: Agricultural Equipment (Harvesters) Market: Sales Value (in Billion INR), 2016 & 2021
Figure 16: India: Agricultural Equipment (Harvesters) Market Forecast: Sales Value (in Billion INR), 2022-2027
Figure 17: India: Agricultural Equipment (Planting Equipment) Market: Sales Value (in Billion INR), 2016 & 2021
Figure 18: India: Agricultural Equipment (Planting Equipment) Market Forecast: Sales Value (in Billion INR), 2022-2027
Figure 19: India: Agricultural Equipment (Irrigation and Crop Processing Equipment) Market: Sales Value (in Billion INR), 2016 & 2021
Figure 20: India: Agricultural Equipment (Irrigation and Crop Processing Equipment) Market Forecast: Sales Value (in Billion INR), 2022-2027
Figure 21: India: Agricultural Equipment (Spraying Equipment) Market: Sales Value (in Billion INR), 2016 & 2021
Figure 22: India: Agricultural Equipment (Spraying Equipment) Market Forecast: Sales Value (in Billion INR), 2022-2027
Figure 23: India: Agricultural Equipment (Hay and Forage Equipment) Market: Sales Value (in Billion INR), 2016 & 2021
Figure 24: India: Agricultural Equipment (Hay and Forage Equipment) Market Forecast: Sales Value (in Billion INR), 2022-2027
Figure 25: India: Agricultural Equipment (Others) Market: Sales Value (in Billion INR), 2016 & 2021
Figure 26: India: Agricultural Equipment (Others) Market Forecast: Sales Value (in Billion INR), 2022-2027
Figure 27: India: Agricultural Equipment (Land Development and Seed Bed Preparation) Market: Sales Value (in Billion INR), 2016 & 2021
Figure 28: India: Agricultural Equipment (Land Development and Seed Bed Preparation) Market Forecast: Sales Value (in Billion INR), 2022-2027
Figure 29: India: Agricultural Equipment (Sowing and Planting) Market: Sales Value (in Billion INR), 2016 & 2021
Figure 30: India: Agricultural Equipment (Sowing and Planting) Market Forecast: Sales Value (in Billion INR), 2022-2027
Figure 31: India: Agricultural Equipment (Weed Cultivation) Market: Sales Value (in Billion INR), 2016 & 2021
Figure 32: India: Agricultural Equipment (Weed Cultivation) Market Forecast: Sales Value (in Billion INR), 2022-2027
Figure 33: India: Agricultural Equipment (Plant Protection) Market: Sales Value (in Billion INR), 2016 & 2021
Figure 34: India: Agricultural Equipment (Plant Protection) Market Forecast: Sales Value (in Billion INR), 2022-2027
Figure 35: India: Agricultural Equipment (Harvesting and Threshing) Market: Sales Value (in Billion INR), 2016 & 2021
Figure 36: India: Agricultural Equipment (Harvesting and Threshing) Market Forecast: Sales Value (in Billion INR), 2022-2027
Figure 37: India: Agricultural Equipment (Post-Harvest and Agro Processing) Market: Sales Value (in Billion INR), 2016 & 2021
Figure 38: India: Agricultural Equipment (Post-Harvest and Agro Processing) Market Forecast: Sales Value (in Billion INR), 2022-2027
Figure 39: North India: Agricultural Equipment Market: Sales Value (in Billion INR), 2016 & 2021
Figure 40: North India: Agricultural Equipment Market Forecast: Sales Value (in Billion INR), 2022-2027
Figure 41: South India: Agricultural Equipment Market: Sales Value (in Billion INR), 2016 & 2021
Figure 42: South India: Agricultural Equipment Market Forecast: Sales Value (in Billion INR), 2022-2027
Figure 43: West India: Agricultural Equipment Market: Sales Value (in Billion INR), 2016 & 2021
Figure 44: West India: Agricultural Equipment Market Forecast: Sales Value (in Billion INR), 2022-2027
Figure 45: East India: Agricultural Equipment Market: Sales Value (in Billion INR), 2016 & 2021
Figure 46: East India: Agricultural Equipment Market Forecast: Sales Value (in Billion INR), 2022-2027
Figure 47: Agricultural Equipment Manufacturing: Detailed Process Flow

List of Tables

Table 1: India: Agricultural Equipment Market: Key Industry Highlights, 2021 and 2027
Table 2: India: Agricultural Equipment Market Forecast: Breakup by Equipment (in Billion INR), 2022-2027
Table 3: India: Agricultural Equipment Market Forecast: Breakup by Application (in Billion INR), 2022-2027
Table 4: India: Agricultural Equipment Market Forecast: Breakup by Region (in Billion INR), 2022-2027
Table 5: Agricultural Equipment: Raw Material Requirements
Table 6: India: Agricultural Equipment Market: Competitive Structure
Table 7: India: Agricultural Equipment Market: Key Players


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Key Questions Answered in This Report

The Indian agricultural equipment market was valued at INR 926 Billion in 2021.

We expect the Indian agricultural equipment market to exhibit a CAGR of 10.6% during 2022-2027.

The emerging farm mechanization trends, coupled with the growing adoption of contract farming
that aid in facilitating agricultural equipment from the buyers, are primarily driving the Indian
agricultural equipment market.

The sudden outbreak of the COVID-19 pandemic has led to the increasing demand for agricultural
equipment across the nation to promote the machine-centric farming activities, with minimal
manual interventions for maintaining social distancing.

Based on the equipment, the Indian agricultural equipment market has been segmented into
tractors, trailers, harvesters, planting equipment, irrigation and crop processing equipment, spraying
equipment, hay and forage equipment, and others. Among these, tractors represent the largest
market share.

Based on the application, the Indian agricultural equipment market can be bifurcated into land
development and seed bed preparation, sowing and planting, weed cultivation, plant protection,
harvesting and threshing, and post-harvest and Agro processing. Currently, land development and
seed bed preparation accounts for the majority of the total market share.

On a regional level, the market has been classified into North India, South India, West India, and East
India, where North India currently dominates the Indian agricultural equipment market.

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