Latest News- Agricultural Machinery Market in India: Tractor is expected to lead the Product segment during 2025-2029

The Agricultural Machinery Market in India is being driven by Increasing government initiatives to support sustainable agricultural practices

The Agricultural Machinery Market in India is expected to grow at a CAGR of 8.4% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 8683.4 million. Precision farming is a sophisticated agricultural management system that utilizes global positioning technology to optimize crop and livestock production. This system enables farmers to monitor and control field equipment such as irrigation systems, agrochemical applicators, and weed control machinery with real-time location data. Key features of precision farming include equipment guidance, yield monitoring, and variable rate input application. By automating these processes, farmers can minimize input costs and enhance productivity. CNH Industrial, a leading industrial equipment provider, offers NIRXact, a crop/slurry sensor that can be integrated with combines and balers to optimize crop yield and quality. The significant cost savings and improved efficiency offered by precision farming are driving its increasing commercial adoption in India's agricultural sector. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Product
  • Tractor
  • Harvesting machinery
  • Plowing and cultivating machinery
  • Planting and sowing machinery
  • Others
• Application
  • Land development
  • Harvesting
  • Sowing and planting
  • Others
• Geography
  • India

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Increasing government initiatives to support sustainable agricultural practices
• Increasing availability of financing options for agriculture
• Increasing adoption of contract farming

However, the market also witnesses some limitations, which are as follows:

• Declining availability of arable land
• Growing availability of rental agricultural machinery
• Fluctuations in raw material prices of agriculture machinery

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Market Scope in Agricultural Machinery Market in India Research Report

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Research Analysis Overview

The agricultural sector in India is witnessing a shift towards mechanization with the adoption of advanced farming equipment, including agricultural machinery like tractors, rotavators, power tillers, and combine harvesters. Farmers are increasingly investing in farm equipment such as sprayers, specifically plant protection sprayers and air blast sprayers, to optimize crop yield and reduce human labor. These spray systems utilize spray fluids, including pesticides, to protect crops from soil-borne diseases and pests. Agricultural techniques, such as the use of seed types, have also evolved, contributing to increased food production. The implementation of labor-saving technology, like mechanized farming equipment, is essential for improving farm profitability and enhancing agricultural technology. However, the market for agricultural machinery in India faces challenges, such as the high initial investment costs and the availability of barren land. Overall, the agricultural machinery market in India is crucial for the growth of the agriculture industry and food production.

Market Research Overview

The global agricultural and farm machinery market encompasses businesses engaged in the manufacturing of various types of machinery and associated components. This sector comprises agricultural tractors, haying equipment, harvesting machinery, planting machinery, livestock machinery, spraying machinery, tillage machinery, and irrigation systems. According to Technavio's market analysis, the market size is determined by the revenues generated by these manufacturers. Key growth drivers for the agricultural and farm machinery market include an escalating number of new product launches. Vendors are continually expanding their offerings with innovative machinery solutions, such as advanced spraying systems, plant protection sprayers, and spray fluids, to cater to the evolving needs of farmers and improve crop yield while minimizing soil damage.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
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