The Indian tractor market is on the way of growth, and it will continue like this in the future. The main reasons for this are the growing rate of farm mechanization, accompanied by the growing construction activities, powered by urbanization. Furthermore, the growing funding by some of the top tractor manufactures in the nation will have a positive impact on the industry in the coming years.
Based on type, the industry is categorized into row-crop tractors, utility tractors, industrial tractors, garden tractors, orchard-type tractors, earth-moving tractors implement carriers, and rotary tillers.
Amongst them, the utility tractors have a considerable share, because of the capability of these kinds of vehicles for performing numerous farming actions, thus becoming an economical alternative for farmers.
Based on engine power, the industry is categorized into below 20 hp, 20–35 hp, 36–45 hp, 46–75 hp, and over 75 hp. Amongst these, the requirement for the more-than-75- hp tractors will grow significantly in the years to come, as a result of their greater competence and power, together with the predisposition of farmers toward high-power tractors, for increasing productivity.
On the basis of the application, Indian tractor market is bifurcated into construction and agriculture. Of the two, the usage of these vehicles for agricultural purposes is higher.
Agriculture is the most considerable share in the Indian economy, with around 18% of the nation’s GDP currently, and it is the main source of income for over 50% of the Indian populace. The growing agricultural actions would power the category’s progress in the future.
On the basis of region, the industry is categorized into diverse states. Traditionally, Punjab, Haryana, and UP, are the key users of tractors, due to the large-scale agricultural actions, which significantly magnetize the acceptance of such farming automobiles. These states are massively engaged in agriculture and are the key producers of wheat and further food grains, along with pulses.
The growing usage of smaller tractors for performing precise agricultural tasks is trending in the industry.
Small tractors are increasingly used for different activities, for example grass mowing, hauling and hauling up the piles. This helps in snowballing the competence of the farming activities, as a specific tractor is assigned to complete a precise task.
Moreover, it helps decrease the cost for the farmers, who can now acquire the tractor for serving their precise purpose only, short of hampering the use of the larger tractors.
It is because of the growing rate of farm mechanization in India, the demand for tractors is on the rise. This trend will continue to grow in the years to come as well.
