Agricultural Machinery Market In India 2024-2028
The agricultural machinery market in India is forecasted to grow by USD 6.76 bn during 2023-2028, accelerating at a CAGR of 8.69% during the forecast period. The report on the agricultural machinery market in India provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.
The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. The market is driven by increasing government initiatives to support sustainable agricultural practices, increasing availability of financing options for agriculture, and increasing adoption of contract farming.
Technavio's agricultural machinery market in India is segmented as below:
By Product
- Tractor
- Harvesting machinery
- Plowing and cultivating machinery
- Planting and sowing machinery
- Others
By Application
- Land development
- Harvesting
- Sowing and planting
- Others
This study identifies the rising deployment of equipment and technologies for precision farming as one of the prime reasons driving the agricultural machinery market in India growth during the next few years. Also, increasing demand for small tractors and growing distribution network of agricultural machinery through e-commerce platforms will lead to sizable demand in the market.
The report on the agricultural machinery market in India covers the following areas:
- Agricultural machinery market in India sizing
- Agricultural machinery market in India forecast
- Agricultural machinery market in India industry analysis
The robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading agricultural machinery market in India vendors that include AGCO Corp., Amalgamations Group, Argo Tractors SpA, Beri Udyog Pvt Ltd, Bucher Industries AG, CLAAS KGaA mBH, CNH Industrial NV, Daedong Corp., Deccan Farm Equipments Pvt. Ltd., Deere and Co., Escorts Ltd., ISEKI and Co. Ltd., JCBLGroup, Mahindra and Mahindra Ltd., POTTINGER Landtechnik GmbH, SDF SpA, Solis, Weichai Lewo Intelligent Agriculture Technology Co., Ltd., and LEMKEN GmbH and Co. KG. Also, the agricultural machinery market in India analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.
The publisher presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. The market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast the accurate market growth.