 | • レポートコード：D0-MOR-AP1554 • 出版社/出版日：Mordor Intelligence / 2020年4月 • レポート形態：英文、PDF、110ページ • 納品方法：Eメール（受注後2-3営業日） • 産業分類：農業 |
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レポート概要
| 本調査レポートは、トラクターのインド市場について調査・分析した資料で、トラクターの市場概要、動向、セグメント別市場規模、競争状況、企業情報、市場機会分析などで構成されています。 |
The India agricultural tractors market is projected to witness a CAGR 4.5% over the forecast period (2020-2025). Government initiatives regarding rural development and farm mechanization, along with various factors, such as enhancing rural wages and scarcity of farm labor are likely to increase the tractor volume over the long term. In terms of units, India is one of the largest tractor markets in the world, selling 600,000 to 700,000 tractors per annum, on average. The demand for tractors declined during Financial Year 2015-16 due to a contraction in the farm incomes, as the production of major crops and commodity prices reduced with lower procurements by the government, owing to adequate buffer reserves. However, India remains a highly lucrative tractor market on account of the decreasing availability of farm labor and the rise of innovative business models such as custom hiring solutions for tractors.
Key Market Trends
Increasing Trend of Mechanization in Agriculture Industry
In recent years, it has been observed that farm mechanization practices in the country have come a long way. Issues concerning farm productivity are tackled largely through extensive use of tractors and other farm equipment. The employment of mechanized power into the field has been the pioneer for impressive changes in the country’s agriculture sector. The process of providing the subsidy involves all stakeholders including the Government of India, State Governments, State Agro Industries Corporations, Machinery Manufacturers Associations, Farm Machinery Testing and Training Institutes (FMTTIs), Manufacturers, Importers, Dealers, and Farmers. Under direct benefit transfer in agricultural mechanization, the subsidy in the market is shared by both center and state government. The center releases the funds to the state government. The state government in the country, in turn, distributes the subsidy to each district. There is a focus of the government to transfer the subsidy directly to the beneficiaries’ account electronically to help in minimizing the delay in payment and to ensure that the benefit reaches to the real target. Easy credit availability, fund access, and high usage of tractors in the farming operations have led India to be one of the largest markets for tractors, globally. To retain its status of global leader in the agricultural tractor industry, government is actively involved in the credit ad subsidy process. Easy availability of credit to the farmers is made possible through many financial institutions, and these are led by favorable government policies and subsidy programs. Various loan schemes, easy installments break down to crop cycle, and low interest rate plans are there to generate funding for mechanization. As per NABARD norms, any farmer with 8 acres of land can take a tractor loan that is to be paid in 9 years, with 12.5% interest over principal amount. Various concessions from the Government of India, like exemption of excise duty on tractors less than 1800 cc of capacity has helped small farmers in purchasing the machine. In order to avail loan facility to a greater number of small and marginal farmers, the government has also reduced the minimum land holding from 10 acres to 4 acres over the years and credit period increased from 7 to 9 years.
Mahatma Gandhi National Rural Employment Guarantee Act is one such policy initiative for growth of the tractor industry. Macro management scheme of agriculture is providing 25% subsidy on equipment, like tractor and other agricultural machinery. In addition to the aforementioned schemes, under central sector extension programmes, government is providing subsidy for purchase of tractors below 18 HP. This subsidy is being provided to farmers individually or in groups, having irrigated land between 2.4-3.2 ha.
Advancement in Tractor Technology
India is seeing an advancement in the agricultural sector with the onset of new revolutionary farming machinery such as hi-tech tractors. The Government of India, through its various schemes, such as Pradan Mantri Krishi Sinchayee Yojana (PMKSY), is providing subsidies for the purchase of agricultural machinery purchases, such as tractors, wagons and other farming machinery in the country. This, along with innovations by major companies such as Mahindra and Mahindra and John Deere, India’s farmlands are witnessing an impressive advancement in tractor technology. Mahindra and Mahindra launched their first even driverless tractor in 2018 in India, with remarkable innovations such as this, Indian farmers are likely to expand their yield significantly. In another example, in December 2019, Proxecto Engineering Services decided to venture into the farming territory with its flagship product- Hybrid Agri Vehicle (HAV), to help farmers in India. Thus, with increasing innovations and advancements, the tractor market in India is expected to grow well during the forecast period.
Competitive Landscape
The agricultural machinery market in India is consolidated and is dominated by large global and domestic manufacturers and farmers prefer trusted brands for assurance of quality and after-sales services offered by the big companies. Machines are manufactured domestically since most international companies have their local production setups in the country. In fact, the Indian company Mahindra Tractors is one of the global leaders in the tractors industry. Mahindra & Mahindra Ltd is the leading player occupying the highest share in the Indian agricultural tractors market, followed by Tractor and Farm Equipment Ltd (TAFE), International Tractor Ltd, and Escorts Limited. In order to increase their production capacity and achieve higher sales, companies are indulging in joint ventures and agreements. For instance, in December 2018, Escorts Limited entered into a joint venture with Japan’s Kubota Corporation, to create a production capacity of manufacturing 50,000 tractors in India.
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1 INTRODUCTION
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.3 Market Restraints
4.4 Porter’s Five Forces Analysis
4.4.1 Bargaining Power of Buyers
4.4.2 Bargaining Power of Suppliers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products
4.4.5 Competitive Rivalry
5 MARKET SEGMENTATION
5.1 By Engine Power
5.1.1 Less than 30 HP
5.1.2 31-40 HP
5.1.3 41-50 HP
5.1.4 Above 50 HP
5.2 Application
5.2.1 Row Crop Tractors
5.2.2 Orchard Tractors
5.2.3 Other Applications
6 COMPETITIVE LANDSCAPE
6.1 Most Adopted Strategies
6.2 Market Share Analysis
6.3 Company Profiles
6.3.1 Mahindra & Mahindra Limited
6.3.2 John Deere India Private Limited
6.3.3 CNH Industrial (India) Pvt. Ltd
6.3.4 TAFE Ltd.
6.3.5 International Tractors Limited (Sonalika)
6.3.6 Escorts Group
6.3.7 Eicher Motors Limited
6.3.8 Kubota Corporation
6.3.9 Force Motors Limited
6.3.10 Same Deutz-Fahr India Private Limited
6.3.11 CLAAS Agricultural Machinery Private Limited
6.3.12 Preet Group
7 MARKET OPPORTUNITIES AND FUTURE TRENDS