The agricultural machinery market share in India is expected to grow by USD 1.87 billion, decelerating at a CAGR of 6% during the forecast period. The growth trajectory of the market is traced through a detailed analysis of the prevalent market forces, trends, and drivers to enable growth projections and insights. This analytical examination of the market will enable businesses to plan and set the path for future growth prospects. Unlock Free Sample Analysis Report
The agricultural machinery market is segmented by product (tractors, harvesting machinery, haying machinery, planting and fertilizing machinery, and others). The adoption of contract farming is one of the major agricultural machinery market trends that will positively influence market growth. The agricultural machinery market size in India by the tractors segment will be significant during the forecast period.
The agricultural machinery market report provides a detailed analysis of all the segments, key trends, and challenges that are likely to influence growth.
The government initiatives to support sustainable agricultural practices are the primary factors driving the growth of the agricultural machinery market in India. However, the declining availability of arable land is one of the challenges that will need to be overcome to drive growth.
The report provides a detailed study of all the factors likely to boost the market. An understanding of the key drivers will enable businesses to leverage growth opportunities to their advantage with a view to short-term and long-term business goals.
The market is fragmented due to the presence of several players. AGCO Corp., Amalgamations Group, CLAAS Group, CNH Industrial NV, Deere & Co., Escorts Ltd., International Tractors Ltd., ISEKI & Co. Ltd., Kubota Corp., and Mahindra & Mahindra Ltd. are some of the major agricultural machinery market vendors in India.
The growth of the players depends on several factors such as market conditions, government support, and industry development. To survive and succeed in such an intensely competitive market, players must distinguish their product and service offerings through clear and unique value propositions.
The research report provides insights into the top market player and their product portfolio along with pipeline analysis of upcoming developments and growth opportunities Download the Free PDF Sample Report