According to IMARC Group's most recent report, "Indian Agricultural Implements Market: Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2021-2026," the Indian agricultural implements market was worth US$ 10.4 billion in 2020.
Agricultural implements are the tools and machinery used to carry out various agricultural practices.
They are made up of a wide range of manual and mechanical tools that farmers employ to increase overall output. Their use helps to reduce labour and increase the efficiency of agricultural activities. They are used to prepare the soil for cultivation and to water crops at the appropriate levels. These tools are also used to harvest mature crops and plant seeds and seedlings across large areas of land. Threshers, cultivators, chaff cutter machines, and seed drills are some of the most widely used agricultural implements.
Some of the leading manufacturers in the Indian agricultural implements industry include:
• Tractors and Farm Equipment Limited
• Tractors and Farm Equipment Limited
• Sonalika International Tractors Limited
• Escorts Group
• Deere & Company
Trends in the Indian Agricultural Implements Market:
The rising demand for upgrading and mechanizing farm equipment in India is driving the market. The country's rising population has resulted in a surge in food consumption.
As a result, farmers have been compelled to use agricultural tools to dramatically enhance crop quality and yield. The shortage of skilled labour has also accelerated the adoption of new tools and equipment in the country, propelling market expansion.
Furthermore, increased industrialisation has resulted in substantial alterations in the agriculture sector, generating a positive outlook for the industry. Farmers are also becoming more aware of the benefits of contract farming over traditional farming practices. In India, there has also been a steady transition from disorganised to organised agricultural techniques. This, combined with rising disposable incomes and an increase in demand for high-quality organic food products, is a key growth-inducing factor.
Furthermore, many players are focused on combining farm machinery with advanced technologies such as GPS, Google Earth, and robotic systems to increase farm production. The government of India's substantial investments in agricultural infrastructure and vocational training for farm manages are also driving the industry.
Looking ahead, IMARC Group anticipates moderate growth in the Indian agricultural implements market between 2021 and 2026.
Key Market Segmentation
• The market is segmented into tractors, rotavators, threshers, power tillers, and others based on product type. Tractors are the most popular product type among them.
• Merchandized agricultural implements have clear market dominance, followed by mechanised agricultural implements.
• The market has been divided into two segments based on distribution channel: business-to-consumer (B2C) and business-to-business (B2B), with the B2C segment accounting for the majority of overall market share.
• Geographically, North India has the largest market share. Other important areas include South, East, and West India and Central India.
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