India tractor market is expected to witness a significant growth from factors such as increase in mechanization in agricultural industry.
PORTLAND, OR, UNITES STATES, November 22, 2021 /EINPresswire.com/ — The India tractor market size was $7.5 billion in 2020 and is expected to reach $12.7 billion by 2030, registering a CAGR of 5.1% from 2021 to 2030. In 2020, West India dominated the India tractor market accounting for over one-third share of the market.
Tractor equipment aids in rise in agricultural productivity with less time consumption. In addition, tractor requires lower effort inputs, thereby reducing the demand for human labor on farms. This not only saves time of operation but also saves the cost incurred on manpower. In addition, advancements in machine technologies promote the growth of the India tractor market.
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Key companies profiled in the report include Mahindra & Mahindra Ltd., Escorts Limited, CNH Industrial N.V., Tractors and Farm Equipment Ltd, Sonalika International Tractors Ltd, Deere & Company (John Deere India Private Limited, HMT Limited, Force Motors Limited, and Standard Corporation India Limited.
India Tractor Market Segments
By Power Output
• Less Than 30 HP
• 30-50 HP
• 51-100 HP
• More Than 100 HP
• Construction, Mining & Logistics
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Key Findings Of The Study
• By power output, the 30-50 HP segment was the highest revenue contributor in 2020.
• By drive type, 2-wheel drive segment was the highest revenue contributor in 2020.
• By application, agriculture segment was the highest revenue contributor in 2020.
• Region wise, West India generated the largest India tractor market share in 2020.
• The report provides an extensive analysis of the India tractor market trends and emerging opportunities of the market.
• The India tractor market forecast analysis from 2021 to 2030 is included in the report.
Region wise, the India tractor market is analyzed across North India, South India, West India, East India, and Central India. West India dominated the market in 2020.
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Source: EIN Presswire