Sample

SAMPLE
INDIA TRACTORS MARKET

(2022-2027)
The study offers:
• A detailed understanding of the current market dynamics and growth opportunities
• The impact of rapid technological development on the market
• An overview of the competitive landscape, along with product innovations and strategies of the major players
• An assessment of the impact of COVID-19 on this market
Domain: Agriculture Base Year: 2021 Forecast Period: 2022-2027
Industry Reports | Consulting | Intelligence Center

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1 SAMPLE – INDIA TRACTORS MARKET
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TABLE OF
CONTENTS
TABLE OF CONTENTS
5.2 Drive Type
1. INTRODUCTION
1.1 Study Assumptions and Market Definition 5.2.1 Two Wheel Drive
1.2 Scope of the Study 5.2.3 Four Wheel Drive

2. RESEARCH METHODOLOGY
5.3 Application
3. EXECUTIVE SUMMARY
5.3.1 Orchard Tractors
4. MARKET DYNAMICS
5.3.2 Row Crop Tractors
4.1 Market Overview
4.2 Market Drivers 5.3.3 Other Applications
4.3 Market Restraints 6. COMPETITIVE LANDSCAPE

4.4 Porter's Five Forces Analysis
6.1 Market Share Analysis
4.4.1 Bargaining Power of Suppliers
6.2 Most Adopted Strategies
4.4.2 Bargaining Power of Buyers
6.3 Company Profiles
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products 6.3.1 Mahindra & Mahindra Limited
4.4.5 Intensity of Competitive Rivalry 6.3.2 Tractors and Farm Equipment Ltd
5. MARKET SEGMENTATION
6.3.3 International Tractors Limited
5.1 Engine Power
6.3.4 Escorts Limited
5.1.1 Under 30 HP
6.3.5 Deere & Company
5.1.2 30 HP-50 HP
5.1.3 51HP-80 HP 6.3.6 CNH Industrial NV (New Holland)
5.1.4 Above 80 HP 6.3.7 Kubota Corporation

TABLE OF CONTENTS
6.3.8 Force Motors Limited
6.3.9 Preet Tractors (P) Limited
6.3.10 Standard Corporation India Limited
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
8. ASSESSMENT OF THE IMPACT OF COVID-19

1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study

1. INTRODUCTION
1.1 STUDY ASSUMPTIONS AND MARKET DEFINITION
STUDY ASSUMPTIONS MARKET DEFINITION
◼ The base currency considered was the US Dollar (USD). Conversion of the ◼ The report covers an extensive study of segments and factors driving the
other currencies to USD was considered based on the average exchange rate growth of the agricultural tractors market in India. Major drivers and
for the respective review period years. The exchange rate conversion for the restraints are identified in the study with respect to the market studied,
forecast period was determined according to the base year’s conversion rate. which is essential to understand the nature and scope of the market from a
macro-level perspective.
◼ The base year was identified based on the availability of annual reports and
secondary information. The base year considered for this study is 2021. ◼ Profiles of major players in the country, along with their business strategies,
provide decisive information toward developing a competitive strategy for
◼ The review period considered for this study is from 2017-2021. The CAGR new/existing players.
considered is for the forecast period 2022-2027.
◼ An in-depth analysis of the future market and trends were exclusively
◼ As a result of data triangulation through multiple methodologies and measured in this report. The impact of COVID-19 on the market has been
approaches, the weighted average of resulting estimates were considered covered in the full-length study.
the final values.

1. INTRODUCTION
1.2 SCOPE OF THE STUDY
BY ENGINE POWER BY DRIVE TYPE BY APPLICATION

◼ Under 30 HP ◼ Two Wheel Drive ◼ Row Crop Tractors
◼ 30 HP – 50 HP ◼ Four Wheel Drive ◼ Orchards Tractors
◼ 51 HP – 80 HP ◼ Other Applications
◼ Above 80 HP

2. RESEARCH
METHODOLOGY

RESEARCH METHODOLOGY
■ Mordor Intelligence (MI) advocates an appropriate mix of secondary and primary research to meet client objectives.
■ MI translates market insights (market dynamics, competition, varying consumer demands, and regulations) into actionable business insights.
■ The following phases are practiced at Mordor for efficient delivery of various syndicated and consulting assignments:
STEP 1 STEP 2 STEP 3

SCOPING/ PROJECT INITIATION MARKET ANALYSIS PROJECT DELIVERY
Decipher client requirements/ market to be

Extensive desk research to identify most relevant secondary information available
studied
Tailormade research approach for

Contact Mordor’s empaneled experts and identify industry experts across the market
customized reports
Effective use of Mordor’s knowledge repository

Conduct primaries and surveys to gather qualitative and quantitative insights
to gather relevant insights
Confirm the objectives of the assignment with

Triangulate and analyze data to finalize actionable business insights
the client
Finalize report contents and establish a Report delivery with high quality market insights, competitive landscape, etc.,
deliverable format as per the proposed content

RESEARCH PHASES EXPLAINED
SECONDARY RESEARCH PRIMARY RESEARCH
This phase involves a thorough synthesis of existing publications across the web to ◼ At Mordor, we pool in industry experts across the value chain, to gather first-hand
gather meaningful insights on the current situation of the market, technology insights on the market studied. In addition to these knowledgeable industry veterans
developments, and any other market related information. The sources include, but or retired experts, consultants and freelancers are a call away to collaborate with
are not limited to: Mordor on any assignment that requires real-time industry insights.
◼ Scientific papers, journals, and publications ◼ We are also equipped to conduct market surveys to gather qualitative insights and
◼ Trade information to understand imports, exports, and average traded price of the opinion of individuals related to the industry.
the commodity, if available ▪ Primary research is used both to validate the data points obtained from secondary
◼ Industry and government websites for blogs, magazines, and other publications research and to fill the data gaps after secondary research. Data gathered during the
primary research phase are useful to arrive at critical insights, both qualitative and
◼ Conference proceedings and association publications
quantitative; these insights can be used to ascertain the following:
◼ Investor presentations, technical brochures, annual reports, press releases,
• Critical market dynamics (drivers, restraints, future, and regulations) and their
transcripts of key personnel interviews, and other strategic publications by
impact
several competitors in the market
• Market distribution across various segments
◼ Product information including technical specifications, approvals, patents, etc.
• Market entry for new companies and insights on competitive landscape
◼ Public sources: Food and Agricultural Organization (FAO), ITC Trade, UN
COMTRADE, Tractors Manufacturers Association (TMA)) MODES OF PRIMARY RESEARCH
◼ Paid sources (Questel Orbit, Factiva, Bloomberg, Seeking Alpha, Hoover, etc.)
◼ Other sources, including journals, articles, etc. (for prices and usage patterns) •& Others
Telephonic Email Chat Virtual
Surveys
Interviews Interviews Interviews Council

RESEARCH PHASES EXPLAINED
DATA TRIANGULATION AND INSIGHT GENERATION

◼ Based on the factors (both endogenous and exogenous in nature) identified and collected during the secondary and primary phases, our in-house subject matter experts
transform the quantitative data extracted and use them to infer critical insights.
◼ The market size estimations are carried out through ‘bottom-up’ and ‘top-down’ approaches.
◼ Our top-down and bottom-up approaches are integrated into our ‘In-house Model Sheets’, which are used to generate the market estimates and growth rates (depending
upon the historical trends of the respective markets, along with various factors, such as drivers, restraints, and recent developments in the market) of the product segment
in the respective country.
It is a process of combining outcomes from different sources to increase the
validity and reliability of the results. This process also helps strengthen
DATA
conclusions about findings and reduce the risk of false interpretations. The
TRIANGULATION insights obtained from both secondary and primary research are analyzed and
validated by the process of data triangulation to arrive at closer estimates.
An econometric model is a simplified representation of a real-world process.

ECONOMETRIC Here, the tools of econometric theory are used to analyze and forecast
MODELLING economic phenomenon and to solve unknown quantities, such as forecast
demand, supply, investment, production, consumption, etc.
After the data is curated, analysts populate the report. From data and
REPORT
forecasts, insights are drawn to visualize the entire ecosystem in a single
WRITING
report.

4. MARKET
DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.3 Market Restraints
4.4 Porter’s Five Forces Analysis

4. MARKET DYNAMICS
4.1 MARKET OVERVIEW
◼ The Indian tractors market was valued at USD 6,343.5 million in 2021, and it is projected to reach USD XX
USD 6,343.5 million in 2026, registering a CAGR of XX% during the forecast period (2022-2027).
Market Size million, 2021
◼ By engine power output, tractors within the range of 30-50 HP hold the highest market share in the country and
are anticipated to grow with a CAGR of 8.7% during the forecast period (2022-2027).
◼ Two-wheel drive tractors are found to be more popular than four-wheel-drive tractors in the Indian market. The
30 HP – 50 HP agriculture tractor market is dominated by aboriginal Indian OEMs, namely Mahindra & Mahindra Limited,
Major Engine Power
TAFE, International Tractors Ltd (Sonalika), and Escorts Limited. Key international tractor manufacturers, such
as Deere & Company, CNH penetrated the market and established a decent market presence.
◼ In recent years, major international players have been increasing their investments to tap the Indian market
well. For instance, in 2020, Kubota Corporation invested in an Indian tractor manufacturer, Escorts Limited (EL),
Major Drive Type Two Wheel Drive to increase its presence in India. This capital tie helped the two companies to develop their cooperative
relationship further and leverage each other’s strengths to extend their reach in the Indian market.
Mahindra & ◼ Moreover, The increasing farm labor shortage, increasing farm wages, and the government’s support for
Mahindra, TAFE, enhancing farm mechanizations are some of the major factors driving the Indian combine harvester market.
International However, the shrinking agricultural land, owing to the continuous land fragmentation and high cost of combined
Tractors Major Players harvesters, are some of the major challenges faced by farmers, which are expected to restrain the growth of the
Ltd(Sonalika) markets studied in the coming years.
◼ In addition to agricultural, social, and economic growth drivers of mechanization, macro-economic and intrinsic
factors, such as the growing population and demand and labor shortages, are also necessitating the adoption of
mechanized solutions, like harvesters for long-term and sustainable growth.
Impact of Low ◼ Thus, with the rising government support for enhancing farm mechanizations and expansion in crop production, the
COVID-19 sale of agriculture tractors is anticipated to rise in the upcoming years. The introduction of advanced technologies by
the market players under the segment of tractors and resolve the issue of labor crisis is anticipated to drive the
market during the forecast period.

4.2 MARKET DRIVERS

4. MARKET DYNAMICS
4.2 MARKET DRIVERS

INCREASING FARM MECHANIZATION RATES TRACTORS MARKET
◼ The farm mechanization market in India has been reportedly growing due to the Sales in Units, Tractors, India, 2017 - 2020
shrinking land and water resources, insufficient labor force, increasing power
availability and trust given by various government policies.
◼ The farm power availability has increased in India from 0.25 kilowatt per hectare
(kW/ha) in 1951 to 2.02 kW/ha in 2017. The government has set a target to
719,209.7 730,429.7
achieve 4 kW/ha by 2030. This in turn is anticipated to boosted the sale of
agricultural machinery in India. In 2017, around 599,906 units of tractors were 657,612.2
sold in the country, which increased and reached 730,430 units in 2020. 599,905.9
◼ The farm mechanization level in India was recorded at 40-45% in 2017. The
penetration of farm equipment is still low as compared to other countries USA(95
%), Brazil(75 %) etc. The low level of farm mechanization may be attributed to the
fact that almost 80% of small and marginal farmers own less than five hectares of
land in the country. However, the Indian government is focusing on increasing farm
mechanization under its sub-mission of agricultural mechanization(SMAM). This is
anticipated to drive the market for tractors in India.
◼ There is also heavy policy support through Custom Hiring Centres(CHCs). The
CHCs have been established for extending farm mechanization as a service on
demand based on a ‘pay per use’ model. This can ensure easy accessibility of
cutting-edge technology suited to the crop and soil profile, even for smallholders.
◼ Therefore, in order to increase mechanization levels, the Indian government is
promoting ‘Balanced Farm Mechanization’ by providing subsidy on various
equipment and supporting bulk buying through front-end agencies, which will 2017 2018 2019 2020
strengthen the agricultural tractors market during the forecast period. Hence, there
is rising adoption of farm machinery by the smallholders in India with the favorable Source: Mordor Intelligence Analysis
policies, which in turn is expected to drive the market growth in the coming years.
This is a sample slide and detailed analysis of the latest trends will be included in the final report.
4.3 MARKET
RESTRAINTS

4. MARKET DYNAMICS
4.3 MARKET RESTRAINTS

LACK OF AWARENESS AND SKILLED MANPOWER
◼ Operating a tractor is a skilled task, which not all farmers are accomplished in. With TRACTORS MARKET
time, more innovative tractors are being introduced in the market with advanced Skill Enhancement Through Training (%) for Farmers by the Government of
technology using AI, robotics, etc. Most of the farmers lack the knowledge to operate India, 2018
them.
0.7 0.7
◼ Along with the lack of technical skills to operate the tractors, its repair and
maintenance on a regular basis also act as a financial challenge for the farmers.
9.6
◼ According to the Human Development Report 2020, barely one in five Indians is
skilled. With only 21% of the skilled labor force present in India, it occupies 129th
rank among 162 countries. This is highly affecting the tractors market within the
country.
◼ There is a dearth of in-house knowledge in the areas of high-value equipment 42.1
operation, maintenance, and repair throughout major states in the country;
increasing reliance on qualified labor resources from chosen states (mostly Punjab
and Haryana) is expected to hinder the market.
◼ Moreover, training programs and other events to raise awareness among the farmers 45.8
regarding farm mechanization is inadequate. Awareness related to knowing the
advantages associated with the different schemes, subsidies, and on different
incentive support, is minimal among the Indian farmers.
◼ As a result, in-house training programs for agri-engineers/technicians and farmers in
the agricultural machinery sector are required to appropriately address mechanical
concerns. Therefore, there is a lack of focus on capacity building of the farmers
related to technological advancements. Extremely high High Medium Low Extremely Low
◼ The Indian farmers having insufficient awareness regarding policies, along with lack of
skilled manpower to use innovative farm machinery, is acting as a challenge for the Source: Ministry of Agriculture and Farmers Welfare, Mordor Intelligence
growth of tractor industry in India.
This is a sample slide and detailed analysis of the latest trends will be included in the final report.
4.4 PORTER'S FIVE
FORCES ANALYSIS

4. MARKET DYNAMICS
4.4 PORTER'S FIVE FORCES ANALYSIS
◼ The Indian tractors market has a significant number of raw material suppliers.
BARGAINING POWER OF BUYERS BARGAINING POWER OF SUPPLIERS Suppliers ensuring agility in the raw material supply will help manufacturing firms in
responding quickly to the changes in product and address the demand according to
exceptional customer needs. Each part or component of a product must be designed
to not only meet design requirements and specifications but also designed in a way
that the individual parts can be assembled together with ease, speed, and minimum
LOW MODERATE cost. This requirement makes the input differentiation higher. However, there are a
large number of suppliers of raw materials. Therefore, the bargaining power of
suppliers is moderate.
◼ Tractors help farmers in reducing both cost and the time spent on various agricultural
INTENSITY OF operations. Though there are different farm machinery for various interculture
COMPETITIVE practices, such as power tillers and sprayers, the tractor is one machinery that offers
RIVALRY an advantage for farmers. Therefore, the threat of substitutes is low.
◼ In this industry, innovation holds the key to competitive advantage in the market, with
HIGH higher investment in R&D. These have been edging out other smaller competitors.
Due to higher capital requirements and government regulations, the threat of new
entrants is low.
◼ Farmers are the end users of agricultural tractors. The increasing labor shortage,
LOW LOW combined with the increasing farm productivity with shrinking land resources, leads
to the need for farmers to adopt the latest tractors. Therefore, the bargaining power
of the buyers is low.
◼ The manufacturers are investing more in R&D to develop new products to meet the
changing demand of the farmers. Therefore, the intensity of competitive rivalry is
THREAT OF NEW ENTRANTS THREAT OF SUBSTITUTE PRODUCTS
high.
This is a sample slide and detailed Porter’s analysis will be included in the final report.
5. MARKET
SEGMENTATION
5.1 Engine Power
5.2 Drive Type
5.3 Application

5.1 ENGINE POWER
5.1.1 .1 Under 30 HP
5.1.1.2 30 HP-50 HP
5.1.1.3 51HP-80 HP
5.1.1.4 Above 80 HP

5.1 ENGINE POWER - VALUE
TRACTORS MARKET TRACTORS MARKET

Value in USD million, Engine Power, India, 2017-2027 Value Share (%), Engine Power, India, 2021
CAGR 2022-2027
Engine Power 2017 2018 2019 2020 2021 2022(E) 2027 (F)
(%)
Under 30 HP
30 HP-50 HP 4,700.9 5,390.2

SAMPLE FIGURE
All numbers and complete analysis available in
SAMPLE FIGURE the full-length report
51 HP-80 HP All numbers and complete analysis available in
the full-length report
Above 80 HP
Total
30 HP-50 HP Under 30 HP
51 HP-80 HP Above 80 HP
SOURCE: Mordor Intelligence Analysis SOURCE: Mordor Intelligence Analysis

5.1 ENGINE POWER - VOLUME

Sales in Unit, Engine Power, India, 2017-2027 Volume Share (%), Engine Power, India, 2021
CAGR 2022-
Engine Power 2017 2018 2019 2020 2021 2022(E) 2027 (F)
2027 (%)
Under 30 HP
30 HP-50 HP 6,14,302 6,89,211

SAMPLE FIGURE
51 HP-80 HP SAMPLE FIGURE the full-length report
Above 80 HP
Total
30 HP-50 HP Under 30 HP
51 HP-80 HP Above 80 HP

5. MARKET SEGMENTATION | 5.1 ENGINE POWER
5.1.2 30-50 HP
 The 30-50 HP segment of the market was valued at USD XX million in 2021, and it is projected to
reach USD XX million by 2027, registering a CAGR of XX% during the forecast period. This TRACTORS MARKET
segment recorded XX units in 2021, and it is projected to reach XX units by 2027, registering a Value in USD million and Sales in Units, 30 - 50 HP, India, 2017-2027
CAGR of XX % during the forecast period.
 These moderate horsepower tractors work well in soft soil conditions, such as river basins. In
developing countries, the demand for lower HP tractors is high due to the low disposable income
of farmers and high labor costs. Farmers prefer small and customized tractors for agricultural
purposes due to small farmland sizes. Moreover, lesser fuel consumption by small tractors helps
to empower small and marginal farmers.
 According to a study by the Department of Farm Machinery and Power Engineering SHUATs
Value in USD million

Allahabad, Uttar Pradesh, India, in 2017, agriculture is one of the most crucial sectors of the
Indian economy. Around 78% of farm holdings belong to small and marginal farmers, about 22%
689,211
belong to semi medium, medium and large farm holders. Therefore, 35 hp tractors are most
Sales in Units
commonly used in India. These factors are anticipated to result in the growth of the market 614,302
during the forecast period.
 Due to the growing demand for this segment, the players in the market are focusing on launching
new models in this segment to increase their market share. For instance, in December 2017,
Deere & Company launched lower horsepower 5E Series 5050E model tractors with 49 HP, SAMPLE FIGURE
suitable for arable, livestock, mixed farms, and specialist growers. Kubota offers a wide range of All numbers and complete analysis available in
tractors under this segment, such as L 3408, L 4508, MU 4501 2WD, and MU 4501 4WD
tractors.
 The construction and mining sector companies are also expanding the product portfolio by
merger and acquisition to offer tractors for their sectors. For instance, Keestrack, which is 4,700.9
involved in designing, manufacturing, and distributing the mobile crushing and screening
equipment with its manufacturing facility in India, acquired Goldoni tractors, an Italian tractor 2017 2018 2019 2020 2021 2022E 2027F
company. Through this acquisition, the company involves the innovation and launch of tractors,
including 30-50 HP tractors. Volume Value
 Thus, the marginal and small farm size of the farmers in the country and strategies, such as mergers
and acquisitions by market players, are propelling the growth of the segment during the forecast Source: Mordor Intelligence
period.

5.2 DRIVE TYPE
5.2.1 Two Wheel Drive
5.2.2 Four Wheel Drive

5.2 DRIVE TYPE - VALUE

Value in USD million, Drive Type, India, 2017-2027 Value Share (%), Drive Type, India, 2021
Drive Type 2017 2018 2019 2020 2021 2022(E) 2027 (F) CAGR 2022-2027 (%)
Two Wheel Drive 4,765.5
SAMPLE FIGURE SAMPLE FIGURE

Four Wheel Drive All numbers and complete analysis available in All numbers and complete analysis available in
the full-length report the full-length report
Total
Two Wheel Drive Four Wheel Drive

5.2 DRIVE TYPE - VOLUME

Sales in Units, Drive Type, India, 2017-2027 Volume Share (%), Drive Type, India, 2021
Drive Type 2017 2018 2019 2020 2021 2022(E) 2027 (F) CAGR 2022-2027 (%)
12.7%
Two Wheel Drive 6,37,008
SAMPLE FIGURE
Four Wheel Drive SAMPLE FIGURE All numbers and complete analysis available in
All numbers and complete analysis available in the full-length report
Total
87.3%
Two Wheel Drive Four Wheel Drive

5. MARKET SEGMENTATION | 5.2 DRIVE TYPE
5.2.1 TWO WHEEL DRIVE
 The two-wheel drive segment of the market was valued at USD XX million in 2021, and it is
TRACTORS MARKET
projected to reach USD XX million by 2027, registering a CAGR of XX% during the forecast
period. This segment recorded XX units in 2021, and it is projected to reach XX units by 2027, Value in USD million and Sales in Units, Two Wheel Drive, India, 2017-2027
registering a CAGR of XX% during the forecast period.
 These tractors are prominently used in dry farming conditions where the fields are not
excessively muddy, sloped, or wet. These are suitable for sowing seeds, spraying fertilizers and
pesticides, topping the pastures, etc.
 The two-wheel drive tractors are cost-effective and are affordable by small and marginal
farmers who are prominent in Indian agriculture. Furthermore, these tractors are easy to

handle, and they work with improved maneuverability resulting in them being operated
comfortably.
Sales in Units
 Some of the players operating in this segment include Sonilka, Mahindra and Mahindra, John 637,008
Deere, Swaraj, and Eicher. The players in the market are focusing on research and development 573,160
and the launch of new products to increase their market share. For instance, in 2018, Swaraj
tractors launched Swaraj 963 FE with a two-wheel drive mechanism to cater to the customers in
the country. SAMPLE FIGURE
 The tractor backhoe loader is used for digging, loading, backfilling, trenching, and provides the the full-length report
maximum power and performance in all outdoor activities. These are used in the construction
and mining industries. Players such as Gainwell CAT are offering tractors backhoe loaders with
two-wheel drive mechanisms for construction sectors in the country.
 The factors such as the low fuel efficiency of two-wheel drive tractors due to unnecessary wear
and tear and the low brand availability of two-wheel drive tractors than the four-wheel drive
2017 2018 2019 2020 2021 2022E 2027F
tractors are hindering the growth of the segment during the forecast period. Furthermore, the
factors like additional maintenance costs for this segment tractors are restraining their adoption Volume Value
during the study period.
 Thus, the introduction of advanced models by market players, clubbed with the cost-effective nature Source: Mordor Intelligence
of these tractors, is driving the growth of this segment during the forecast period.

5.3 APPLICATION
5.3.1 Orchard Tractors
5.3.2 Row Crop Tractors
5.3.3 Other Applications

5.3 APPLICATION - VALUE

Value in USD million, Application, India, 2017-2027 Value Share (%), Application, India, 2021
Application 2017 2018 2019 2020 2021 2022(E) 2027 (F) CAGR 2022-2027 (%)
Orchard Tractors
Row Crop Tractors 1,646.7 1,847.1 SAMPLE FIGURE

Other Applications SAMPLE FIGURE
Total
Orchard Tractors Row Crop Tractors
Other Applications

5.3 APPLICATION - VOLUME

Sales in Units, Application, India, 2016-2026 Volume Share (%), Application, India, 2021
CAGR 2022-
Application 2017 2018 2019 2020 2021 2022(E) 2027 (F)
2027 (%)
Orchard Tractors
1,42,315
Row Crop Tractors SAMPLE FIGURE

2,26,745 2,52,144
Other Applications
SAMPLE FIGURE
Total the full-length report
Orchard Tractors Row Crop Tractors
Other Applications

5. MARKET SEGMENTATION | 5.3 APPLICATION
5.3.2 ROW CROP TRACTORS

 The row crop tractors segment of the market was valued at USD XX million in 2021, and it is
TRACTORS MARKET
projected to reach USD XX million by 2027, registering a CAGR of XX% during the forecast
period. This segment recorded XX units in 2021, and it is projected to reach 459,480 units by Value in USD million and Sales in Units, Row Crop Tractors, India, 2017-2027
2027, registering a CAGR of XX% during the forecast period.
 With the increasing unavailability of farm laborers and growing mechanization of agriculture,
the demand for row-crop tractor boosts the sales of the global agriculture tractor market. The
increasing demand for power, precision, handling, and efficiency has shaped the development of
the modern planter tractor, and it continues to drive the development of these tractors.
 The row-crop tractor is specifically tailored to grow crops that meet all agricultural demands,
such as ploughing, harrowing, levelling, pulling seed drills, weed control, and running various

machines, like water pumps, and belt pulley threshers. These tractors are provided with
replaceable driving wheels of different tread widths. They have a high ground clearance to save
crop damage.
Sales in Units
252,144
 Major players in the market are investing in R&D work, to develop innovative equipment and
226,745
maintain a strong market foothold. For instance, in April 2017, Mahindra & Mahindra Limited
launched its Mahindra JIVO small tractor, 24hp 4WD, ideal for row-crop and horticulture
farming. The tractor can lift up to 750 kg and is equipped with automatic depth and draft control SAMPLE FIGURE
(ADDC) features for row-cropping and horticulture applications. All numbers and complete analysis available in
 Due to the continuous demand and rising sales growth, in 2020, Deere & Company launched a the full-length report
new 8 Family Tractor line-up that includes 8R wheel tractors, 8RT two-track tractors, and the
industry’s first fixed-frame four-track tractors. These new tractors come standard equipped
with the latest precision agriculture technology and allow customers to choose the machine
configuration, options, and horsepower to best fit their operation. 1,646.7
 Some of the key factors pushing the growth of the row crop tractors are an increase in the
consumer demand for agriculture products, favorable government policies across most 2017 2018 2019 2020 2021 2022E 2027F
countries worldwide, technological advances and innovation, developing the supply chain Volume Value
industry, and emerging environmental concerns. Hence, with these supportive factors, the demand
for row-crop tractors, as an all-rounder and substitute for manual labor, is anticipated to propel the Source: Mordor Intelligence
market for this segment during the forecast period.

6. COMPETITIVE
LANDSCAPE
6.1 Market Share Analysis
6.2 Most Adopted Strategies
6.3 Company Profiles

6. COMPETITIVE LANDSCAPE
6.1 MARKET SHARE ANALYSIS
◼ The Indian tractors market is highly consolidated in nature in which the top 10 players
TRACTORS MARKET dominated the market, accounting for 86.16%, and other players accounted for 13.84%.
Market Share (%), by Major Players, India, 2021 Mahindra & Mahindra, Tractors and Farm Equipment Ltd, International Tractors Ltd
(Sonalika), Escorts Limited, Deere & Company, CNH Industrial NV, Kubota Corporation,
Force Motors Limited, Preet, and Standard Corporation India Limited are the major
players in the market studied.
Mahindra & Mahindra Limited ◼ The domestic players dominate the tractors market and are focusing on strategies such as
increasing investments in research and development, product launches, expansions, and
Tractors and Farm Equipment Ltd partnerships to improve their market share in the country. Of all, innovations have been
International Tractors Ltd (Sonalika) the primary strategy adopted by these players during the study period.
◼ For instance, in February 2021, Tractors and Farm Equipment, manufacturer of Massey
Escorts Limited
Ferguson tractors, launched its new Dynatrack series, designed to deliver good mileage,
John Deere India Private Limited durability, and comfort. It is the world’s first tractor with VersaTECH technology.
Similarly, in December 2020, International Tractors Limited-Owned Sonalika Tractors
CNH Industrial NV (New Holland) launched a field-ready electric tractor for the domestic market called Tiger Electric.
Kubota Corporation ◼ Furthermore, players in the market are focusing on expansions to increase their brand
demand and product portfolio. For instance, in January 2021, Deere & Company invested
Force Motors Limited
USD 100 million to increase its capacity to build agricultural tractors in India by building a
Preet Tractors (P) Limited new factory and expanding its current tractor facility in Pune. The new factory will build
small agricultural tractors sold in India and for export to other countries.
Standard Corporation India Limited
◼ International players are investing in the domestic market to increase their share. For
Others instance, in October 2020, a Japanese leader in machinery, Kubota, took a majority stake
in the Indian tractor maker Escorts as part of its move to expand in emerging markets,
which is expected to enhance Escort’s competitive edge.
Source: Mordor Intelligence ◼ These major ten players adopted different strategies to increase their market share Y-o-
Y. This, in turn, is expected to increase the market share for every company in the forecast
This is a sample slide and detailed market share analysis will be included in
period.
the final report.

6.3 COMPANY
PROFILES
6.3.1 Mahindra & Mahindra Limited
6.3.2 Tractors and Farm Equipment Ltd
6.3.3 International Tractors Limited
6.3.4 Escorts Limited
6.3.5 Deere & Company
6.3.6 CNH Industrial NV (New Holland)
6.3.7 Kubota Corporation
6.3.8 Force Motors Limited
6.3.9 Preet Tractors (P) Limited
6.3.10 Standard Corporation India Limited

6. COMPETITIVE LANDSCAPE| 6.3 COMPANY PROFILES
6.3.1 MAHINDRA & MAHINDRA LTD - OVERVIEW

◼ Mahindra operates in 11 sectors: farm equipment, automotive, financial services, information
technology, real estate and infrastructure, aerospace and defense, mobility services sector,
hospitality, agribusiness, two-wheelers, and partners. Mahindra is one of the world’s biggest
tractor companies in the world by volume.
◼ Mahindra’s Farm Equipment division aims at providing quality, affordable farm equipment
Founded in 1945
solutions to farmers around the world. In addition to equipment, it also provides other services
to farmers. The company also aims to be customer-centric and provide solutions that are
necessary to the customers. The company invests extensively in research and development and Mumbai, India
has 20 R&D centers across ten countries. Mahindra strives to move with the trends in the
market and innovate its products accordingly.
https://www.mahindratractor.com/
◼ Mahindra Group has a good presence in the United States with ten factories/assembly centers,
30 IT development centers, and 790 tractor/vehicle dealerships across the United States. The
company is one of the largest tractor manufacturers in the world in terms of volume. In 2018, it +61 73213 1211
sold 317,531 tractors under the Mahindra and Swaraj brands.
MAHINDRA & MAHINDRA LTD
Revenue in USD million, Global, 2019-2020
USD 6,054.6 million 256,000+ Employees
Revenue (Global, 2020) (Global, 2020) 7,507.4
6,054.6
301,915 Tractor Volume USD 857.1 million EBITDA

(Global, 2020) (2020)
2019 2020
Source: Annual Report

6.3.1 MAHINDRA & MAHINDRA LTD – PRODUCT PORTFOLIO
MAHINDRA & MAHINDRA LTD

Product Portfolio
PRODUCT CATEGORY PRODUCT DESCRIPTION
Mahindra Yuvraj 215 NXT

Upto 14.9 kW (20 HP) range of tractors are compact, ideal for
Upto 20 HP Tractors
Mahindra Jivo 225 DI small landholdings, orchards, and inter-culture operations.
Mahindra Jivo 225 DI 4WD
Mahindra Jivo 245 DI 4WD

These tractors within 15.7 TO 22.4 kW (21 TO 30 HP) range
Mahindra Jivo 245 VINEYARD power are best suited for agriculture and orchards on
21 TO 30 HP Tractors Mahindra 255 DI Power Plus
medium-size land holdings. These tractors can drive all
Mahindra 265 DI implements efficiently and with low maintenance costs.
Mahindra 265 DI Power Plus
Mahindra 275 DI ECO These tractors are packed with fuel-efficient technology and
31 TO 40 HP Tractors advanced features. These enable farmers to do more and
Mahindra YUVO 275 DI better, work faster on fields, and reap superior results.
Mahindra JIVO 365 DI 4WD
Source: Company Website

6.3.1 MAHINDRA & MAHINDRA LTD – RECENT DEVELOPMENTS
M Merger and Acquisition I Product Innovation E Expansion P Partnership
Mahindra invested USD 14,660.0 million to

manufacture a new tractor series called the
‘K2’ at the company’s tractor manufacturing
facility at Zaheerabad in Telangana, India.
OCT 2019
I P
Mahindra and Ford announced a joint venture to
NOV 2020
drive profitable growth in India and emerging
markets like Australia, Africa, ASEAN, the Middle
East, and Russia. This partnership helped in
increasing sales of tractors and harvesting
equipment in all markets.

FOR MORE INFORMATION,
PLEASE CONTACT
5th Floor, Rajapushpa Summit, Financial
District, Gachibowli, Hyderabad – 500008, +1 617-765-2493
India
info@mordorintelligence.com www.mordorintelligence.com
Industry Reports | Consulting | Intelligence Centre
+1 617 765 2493 | info@mordorintelligence.com | www.mordorintelligence.com


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INDIA TRACTORS MARKET

Domain: Agriculture Base Year: 2021 Forecast Period: 2022-2027

Industry Reports | Consulting | Intelligence Center

2 SAMPLE – INDIA TRACTORS MARKET

1.2 Scope of the Study 5.2.3 Four Wheel Drive

4.3 Market Restraints 6. COMPETITIVE LANDSCAPE

4.4.4 Threat of Substitute Products 6.3.1 Mahindra & Mahindra Limited

5.1.3 51HP-80 HP 6.3.6 CNH Industrial NV (New Holland)

5.1.4 Above 80 HP 6.3.7 Kubota Corporation

4 SAMPLE – INDIA TRACTORS MARKET

6.3.9 Preet Tractors (P) Limited

6.3.10 Standard Corporation India Limited

7. MARKET OPPORTUNITIES AND FUTURE TRENDS

8. ASSESSMENT OF THE IMPACT OF COVID-19

5 SAMPLE – INDIA TRACTORS MARKET

1.2 Scope of the Study

6 SAMPLE – INDIA TRACTORS MARKET

1.1 STUDY ASSUMPTIONS AND MARKET DEFINITION

STUDY ASSUMPTIONS MARKET DEFINITION

the final values.

7 SAMPLE – INDIA TRACTORS MARKET

1.2 SCOPE OF THE STUDY

BY ENGINE POWER BY DRIVE TYPE BY APPLICATION

◼ 30 HP – 50 HP ◼ Four Wheel Drive ◼ Orchards Tractors

8 SAMPLE – INDIA TRACTORS MARKET

9 SAMPLE – INDIA TRACTORS MARKET

STEP 1 STEP 2 STEP 3

Decipher client requirements/ market to be

Tailormade research approach for

Effective use of Mordor’s knowledge repository

Confirm the objectives of the assignment with

10 SAMPLE – INDIA TRACTORS MARKET

SECONDARY RESEARCH PRIMARY RESEARCH

11 SAMPLE – INDIA TRACTORS MARKET

DATA TRIANGULATION AND INSIGHT GENERATION

An econometric model is a simplified representation of a real-world process.

12 SAMPLE – INDIA TRACTORS MARKET

4.2 Market Drivers

4.3 Market Restraints

4.4 Porter’s Five Forces Analysis

13 SAMPLE – INDIA TRACTORS MARKET

4.1 MARKET OVERVIEW

14 SAMPLE – INDIA TRACTORS MARKET

15 SAMPLE – INDIA TRACTORS MARKET

4.2 MARKET DRIVERS

17 SAMPLE – INDIA TRACTORS MARKET

4.3 MARKET RESTRAINTS

19 SAMPLE – INDIA TRACTORS MARKET

4.4 PORTER'S FIVE FORCES ANALYSIS

5.2 Drive Type

21 SAMPLE – INDIA TRACTORS MARKET

22 SAMPLE – INDIA TRACTORS MARKET

5.1 ENGINE POWER - VALUE

TRACTORS MARKET TRACTORS MARKET

30 HP-50 HP 4,700.9 5,390.2

SOURCE: Mordor Intelligence Analysis SOURCE: Mordor Intelligence Analysis

23 SAMPLE – INDIA TRACTORS MARKET

5.1 ENGINE POWER - VOLUME

TRACTORS MARKET TRACTORS MARKET

30 HP-50 HP 6,14,302 6,89,211

SOURCE: Mordor Intelligence Analysis SOURCE: Mordor Intelligence Analysis

24 SAMPLE – INDIA TRACTORS MARKET

Value in USD million