India Agriculture Engines Market, By Fuel Type (Diesel, Petrol), By Power (5 - 75 HP, 76 - 350 HP), By End Use (Tractors, Pumpset, Power Tillers, Rotavator, Thresher, Others), By Region, Competition, Forecast & Opportunities, 2025
発行: TechSci Research
ページ情報: 英文 73 Pages
India agriculture engines market size stood at over one million units in 2019 and is expected to continue growing over the next five years on account of continuous government support to the country's agriculture sector majorly through subsidies, easy financing options and growing nationwide consumption and export of agriculture machinery such as tractors, power tillers, etc., coupled with increasing number of educated farmers across the country. Moreover, presence of several reputed national and multinational farm equipment manufacturers, production facilities and growing farm mechanization rate in the country is expected to positively influence the growth of India agriculture engines market during the forecast period.
India agriculture engines market can be segmented based on fuel type, power, end use and region. Based on end use, India agriculture engines market can be segmented into tractors, pumpset, power tillers, rotavator, thresher and others. Among these, tractor segment was the largest segment by volume in 2019 and is expected to dominate the market during the forecast period as well on account of huge sales volume, growing production and export of tractors. Moreover, increasing consumer preference for engines having more power with less fuel consumption rate and lower cost has triggered the demand for more focused research and development programs for manufacturing such agriculture engines in India, which is expected to supplement the market growth during the forecast period. Based on fuel type, the market can be segmented into diesel and petrol. Among these, diesel engines segment held the largest market share in India agriculture engines market until 2019 and is further anticipated to hold its dominance during the forecast period as well on the back of lower price in comparison to petrol and easy availability within the country. Moreover, consumers prefer diesel engines due to the advantages they offer such as ability to generate, high torque and high power.
In terms of regional analysis, the market has been segmented into North, East, West and South regions. Among these, West region accounted for the highest share in the country's agriculture engines market in 2019 due to pre-existence of major agriculture engine manufacturing facilities in the region such as John Deere, Mahindra & Mahindra, New Holland, etc. Moreover, growing number of agricultural activities due to adoption of sustainable agricultural practices by the farmers as well as surging use of farm equipment and machinery is further anticipated to boost demand for agriculture engines in the country's west region in the coming years.
However, factors such as introduction of BS IV/Euro IV mandates in the Indian agriculture industry to be implemented from November 2020 coupled with the economic slowdown triggered by the outbreak of novel coronavirus in the country, is affecting the country's agriculture and machinery market, thereby directly impacting India agriculture engines market. Nevertheless, it is anticipated that the market and the Indian economy will recover from this setback over the course of next few years.
Major players operating in India agriculture engines market include Mahindra & Mahindra Limited, Simpson & Company Limited, Kirloskar Oil Engines Limited, Greaves Cotton Limited and others which include John Deere India Private Limited, Toyota Kirloskar Motor Pvt Ltd, Escorts Limited, International Tractors Limited, etc. The companies operating in the market are investing in research and development to come up with improved product offerings. Moreover, strategic moves such as mergers and collaborations are also helping the key players to magnify their customer base and expand their sales & distribution networks.
Years considered for this report:
Historical Years: 2015-2019
Base Year: 2020
Estimated Year: 2021
Forecast Period: 2022-2025
Objective of the Study:
TechSci Research performed both primary as well as exhaustive secondary research for this study. Initially, TechSci Research sourced a list of manufacturers across the country. Subsequently, TechSci Research conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, TechSci Research could include the manufacturers which could not be identified due to the limitations of secondary research. TechSci Research analyzed the product offerings, distribution channels and presence of all major players operating in agriculture engines market in India.
TechSci Research calculated India agriculture engines market size using a bottom-up approach, where data for various end-user segments was recorded and forecast for the future years. TechSci Research sourced these values from the industry experts and company representatives and externally validated through analyzing historical data of these product types and applications for getting an appropriate, overall market size. Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations and financial reports were also studied by TechSci Research.
Key Target Audience:
The study is useful in providing answers to several critical questions that are important for industry stakeholders such as agriculture engines manufacturers, suppliers, distributors and other stakeholders. The report would enable the stakeholders in strategizing investments and capitalizing on emerging market opportunities.
In this report, India agriculture engines market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
5 - 75 HP
76 - 350 HP
Mahindra & Mahindra Limited
Simpson & Company Limited
Kirloskar Oil Engines Limited
Greaves Cotton Limited
International Tractors Limited
John Deere India Private Limited
Kubota Agricultural Machinery India Pvt Ltd
Yanmar Holdings Co., Ltd.
Ashok Leyland Limited
Company Profiles: Detailed analysis of the major companies present in India agriculture engines market.
With the given market data, TechSci Research offers customizations according to a company's specific needs. The following customization options are available for the report: