Indian Agricultural Equipment Market to Reach INR 1,689 Billion by 2027 | CAGR Status (10.6%)
Research Reports
Mar 28, 2022
According to the latest report by IMARC Group, titled “Indian Agricultural Equipment Market: Industry Trends, Share, Size, Growth, Opportunity, and Forecast 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. Agricultural equipment refers to a machinery, a specific part of a machinery or an attachment to a machinery that is manufactured for principally using for agricultural purposes. They range from hand tools to countless kinds of mowing or operating farm implements to tractors. They are widely used for various farm operations, such as tillage, sowing, irrigation, plant protection and threshing. The most used agricultural machinery in India includes tractors, cultivators, and mowing tools. The Indian farming sector is extensively adopting a diverse array of agricultural equipment since it helps in increasing the overall productivity with lower human and animal effort at reduced costs.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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Indian Agricultural Equipment Market Trends:
The market is primarily driven by the growing farm mechanization trend. This is also supported by favorable government initiatives focusing on farm automation, which is leading to the rising adoption of advanced agricultural equipment throughout the country. In line with this, considerable innovations in the functionality of agricultural equipment are creating a positive market outlook. Furthermore, low import duties on agricultural equipment, the increasing demand for high productivity in less time, and the shortage of labor due to a large-scale migration from rural to urban areas are some of the other factors that are providing a boost to the product demand.
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Indian Agricultural Equipment Market 2022-2027 Analysis and Segmentation:
Breakup by Type:
- Tractors
- Trailer
- Harvesters
- Planting Equipment
- Irrigation and Crop Processing Equipment
- Spraying Equipment
- Hay and Forage Equipment
- Others
Breakup by application:
- Land Development and Seed Bed Preparation
- Sowing and Planting
- Weed Cultivation
- Plant Protection
- Harvesting and Threshing
- Post-Harvest
- Agro-Processing
Breakup by Region:
- North India
- South India
- West India
- East India
Competitive Landscape:
The competitive landscape of the market has also been analyzed in the report with the detailed profiles of the major players operating in the market.
Key highlights of the Report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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