A India tractor market usually has one or two small wheels on the front and two large wheels on the back. Farming, construction, and even logistics use tractors. Tractors are used to move attached implements such as rotavators, ploughs, tillers, sowers, cultivators, and harvesters. 4-wheel and 2-wheel types are available. The power output ranges from 20 HP to more than 20 HP. Applications include agriculture, construction, & mining.
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In states like Telangana, Tamil Nadu, Haryana, Punjab, Maharashtra, and Madhya Pradesh, the mechanisation of agricultural equipment is driving the growth of the Indian tractor market. Increasing demands for highly efficient tractors for various applications, including planting, sowing, and others, are driving the market’s growth. Tractors with power output ranges between 50-100 horsepower are offered by major players such as Mahindra & Mahindra Ltd. and Escorts Limited. The Mahindra NOVO tractor is available from Mahindra & Mahindra Ltd. Power is six-fourths horsepower. With its powerful engine, it is well suited for heavy and sticky soil conditions. The cooling system is effective. Harrows and mulchers can be used with it.
Additionally, the increase in government spending on infrastructure and construction projects has led to increased demand for tractors for transportation purposes. In India, spending on infrastructure activities grew by 20.9% between 2018 and 2019. Furthermore, construction tractor technology advances and operational efficiency drive the market’s growth.
India’s tractor market is also growing due to the increasing demand for high performance tractors for muddy and heavy soil conditions. In July 2018, Mahindra & Mahindra Ltd.’Swaraj Tractors launched the 963 FE series tractor with 2WD and 4WD. The tractor features a powerful engine, offers high productivity and is cost-efficient. Among its features are higher productivity, durability, reliability, and ease of maintenance. The market for India tractors is driven by all these factors.
Market overview
There is, however, a lack of information regarding efficient tractors among farmers in India, which is expected to limit the growth of the India tractor market. Additionally, the government is providing low interest rates to assist and subsidise farmers with tractor purchases, which should make the Indian tractor market more lucrative. In India, for example, the PM Kisan Tractor Yojana and the Telangana YantraLaxmi Scheme provide 20% to 50% subsidy on tractors for farmers.
Tractors in India are segmented by power output, drive type, application, and region. In terms of power output, the market is divided into less than 30 HP, 30-50 HP, 50-100 HP, and over 100 HP. In 2020, 30-50 HP was the most dominant segment. Market segments are based on drive type, such as 2-wheel drive and 4-wheel
Driving. In 2020, 2WD was the market leader. Also, Agricultural, construction, and mining & logistics are the three main application areas. In 2020, agriculture will dominate the market.
North India, South India, West India, East India, and Rest of India make up the India tractor market. The market in 2020 was dominated by West India.
Analysing competition
This report profiles several key players including Mahindra & Mahindra Ltd., Escorts Limited, CNH Industrial N.V., Tractors and Farm Equipment Ltd., Sonalika International Tractors Limited, Deere & Company (John Deere India Private Limited), HMT Limited, Force Motors Limited, and Standard Corporation India Limited.
A number of major players including Mahindra & Mahindra, Tractor and Farm Equipment Limited, and HMT Limited use product launches and agreement agreements to develop their tractor product portfolios. But, A new TIGER Electric tractor was launched by Sonalika International Tractors Ltd. in December 2020. It is the first electric tractor designed specifically for agricultural and construction purposes in India. The tractor is powered by a natural cooling battery of 25.5 KW. Battery backup is 10 hours. High peak torque, high power density, and high performance are among its characteristics.
