India Tractor Market - 2023 | Techsci Research

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I n d i a Tr a c t o r M a r k e t , B y Powe r O
u t p u t , B y D r ive Ty p e , B y A p p l i c
a t i o n , C o m p e t i t i o n Fo r e c a s
t O p p o r t u n i t i e s , F Y 2 0 13 F Y
2 0 2 3
M a r k e t I n t e l l i g e n c e . C o n s u
l t i n g
Published May, 2018
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T a b l e o f C o n t e n t s
S. No. Contents Contents Contents
1. Product Overview Product Overview Product Overview
2. Research Methodology Research Methodology Research Methodology
3. Analyst View Analyst View Analyst View
4. Voice of Customer Voice of Customer Voice of Customer
4.1. Factors Influencing Purchase Decision Factors Influencing Purchase Decision
4.2. Brand Switching Attribute Brand Switching Attribute
4.3. Unaided/Aided Brand Recall Unaided/Aided Brand Recall
4.4. Brand Satisfaction Level Brand Satisfaction Level
5. India Tractor Market Outlook India Tractor Market Outlook India Tractor Market Outlook
5.1. Market Size Forecast Market Size Forecast
5.1.1. By Value Volume
5.2. Market Share Forecast Market Share Forecast
5.2.1. By Power Output (Under 40 HP and 40 under 100 HP)
5.2.2. By Drive Type (2-wheel drive and 4-wheel drive)
5.2.3. By Application (Agriculture and Construction/Mining logistics)
5.2.4. By Company
5.2.5. By Region
5.3. Market Attractiveness Index (By Power Output) Market Attractiveness Index (By Power Output)
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T a b l e o f C o n t e n t s
S. No. Contents Contents Contents Contents
6. India Agriculture Tractor Market Outlook India Agriculture Tractor Market Outlook India Agriculture Tractor Market Outlook India Agriculture Tractor Market Outlook
6.1. Market Size Forecast Market Size Forecast Market Size Forecast
6.1.1. 6.1.1. By Value Volume
6.2. Market Share Forecast Market Share Forecast Market Share Forecast
6.2.1. 6.2.1. By Power Output (Under 40 HP and 40 under 100 HP)
6.2.2. 6.2.2. By Drive Type (2-wheel drive and 4-wheel drive)
6.3. Market Attractiveness Index (By Power Output) Market Attractiveness Index (By Power Output) Market Attractiveness Index (By Power Output)
7. India Construction/Mining logistics Tractor Market Outlook India Construction/Mining logistics Tractor Market Outlook India Construction/Mining logistics Tractor Market Outlook India Construction/Mining logistics Tractor Market Outlook
7.1. Market Size Forecast Market Size Forecast Market Size Forecast
7.1.1. 7.1.1. By Value Volume
7.2. Market Share Forecast Market Share Forecast Market Share Forecast
7.2.1. 7.2.1. By Power Output (Under 40 HP and 40 under 100 HP)
7.2.2. 7.2.2. By Drive Type (2-wheel drive and 4-wheel drive)
7.3. Market Attractiveness Index (By Power Output) Market Attractiveness Index (By Power Output) Market Attractiveness Index (By Power Output)
8. Market Dynamics Market Dynamics Market Dynamics Market Dynamics
8.1. 8.1. Drivers Drivers
8.2. 8.2. Challenges Challenges
9. Policy Regulatory Landscape Policy Regulatory Landscape Policy Regulatory Landscape Policy Regulatory Landscape
10. Market Trends Developments Market Trends Developments Market Trends Developments Market Trends Developments
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T a b l e o f C o n t e n t s
S. No. Contents Contents
11. SWOT Analysis SWOT Analysis
12. India Economic Profile India Economic Profile
13. Pricing Analysis Pricing Analysis
14. Product Benchmarking Product Benchmarking
15. Competitive Landscape Competitive Landscape
15.1. Mahindra Mahindra Limited
15.2. Tractors And Farm Equipment Ltd.
15.3. International Tractors Ltd.
15.4. Escorts Limited
15.5. John Deere India Private Limited
15.6. CNH Industrial (India) Private Limited
15.7. HMT Limited
15.8. Force Motors Limited
15.9. Preet Tractors (P) Limited
15.10. Standard Tractors
16. Strategic Recommendations Strategic Recommendations
17. About Us Disclaimer About Us Disclaimer
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P r o d u c t O v e r v i e w
Product Definition
Tractor is defined as a motor vehicle with large
rear tires, used primarily for agricultural
purposes like farming, ploughing, etc.
Classification According to Power Output
Length Description
Under 40 HP Tractor with power output of less than 40 Horsepower
40-Under 100 HP Tractor with power output of more than 40 Horsepower but less than 100 Horsepower
Classification According to Application
Engine Capacity Description
Agriculture Tractor that are used for agricultural purposes such as farming, ploughing
Construction/Mining Logistics Tractors that are used for purposes like construction, mining, logistics, etc.
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R e s e a r c h M e t h o d o l o g y
Market Profiling

• In-depth secondary research was conducted to
  determine top players in the India Tractor
  market, overall market size and segmental market
  size.

Research Intelligence
Data Collection
Data Filter Analysis
Actionable Insights
Business Solution
Formulating Questionnaire

• In order to conduct industry experts interviews,
  TechSci formulated a detailed questionnaire.

• Identifying Key Opinion Leaders
• Questionnaire Design
• In-depth Interviews

Developing List of Respondents
A

• Recent
• Developments
• Market Changing Aspects/Dynamics
• Government Policies
• Final Conclusion

Primary Research

• List of industry players and industry specialists
  was developed.

B Desk Research
C Company Analysis
Data Collection

• TechSci conducted interviews with industry
  experts and industry players for data collection
  and verification.

• Market Participants
• Key Strengths

Data Validation
Paid Sources
Secondary Research
Primary Research

• Data obtained as a result of primary and
  secondary research was validated through
  rigorous triangulation.

• LinkedIn
• TechSci Internal Database

• Company Website
• Company Annual Reports
• White Paper Study
• Financial Reports
• Investor
• Presentations
• Regulatory Body
• Associations, etc.

• Factiva
• Hoovers

Data Analysis

• The data was scrutinized using MS-Excel and
  statistical tools, such as Time Series Analysis
  etc., to obtain qualitative and quantitative
  insights about the India Tractor market.

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R e s e a r c h M e t h o d o l o g y
Baseline Methodology For the study, TechSci
Research has gathered information through primary
research surveys with leading tractor OEMs
operating across the country. We also put through
an exhaustive search of credible paid databases,
such as Business Week, Factiva, Hoovers, etc.,
including our internal database. Our team of
analysts has then prudently evaluated all the
collected information and presented the same in
chronological order to depict a meaningful and
clear picture of the India tractor market. While
compiling the data, we have also cross checked
all the collected information from multiple
sources and data warehouses, so as to present the
most accurate and precise information of the
concerned industry.
Market Size Calculation Technique Primary
Research For the preparation of the India tractor
market report, bottom-up model has been used,
which has been later cross- validated by using
top-down approach. TechSci interviewed senior
managers and regional managers of the prominent
tractor OEMs using Delphi technique for
calculating the India tractor market size.
Respondents were also asked about the current
and future growth rates, market share by vehicle
type, etc. All the information gathered was
carefully analyzed. Data points which exhibited
high deviations from the majority estimates were
eliminated as outliers and the
remaining refined data points were put together
to arrive at the volume data.
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R e s e a r c h M e t h o d o l o g y
Primary Research Few of the Companies
Interviewed
S. No. Company Name
1. Mahindra Mahindra Limited
2. Tractors And Farm Equipment Ltd. (TAFE)
3. Sonalika International Tractors Ltd.
4. Escorts Limited
5. Deere Co (DE) (John Deere)
6. CNH Industrial N.V
Secondary Research We have also put through an
exhaustive search of credible paid databases,
such as Factiva, Hoovers, etc., in addition to
our internal database. Further analysis of
credible publications, white papers, companies
annual reports, investor presentations, news
articles, etc., was done to cross-validate the
end findings derived from primary research.
S. No. Few of the Secondary Sources
1. Society of Indian Automobile Manufacturers (SIAM)
2. Tractor Manufacturer Association (TMA)
3. Company Annual Reports
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R e s e a r c h M e t h o d o l o g y
Forecasting Technique The team has done
forecasting on the basis of econometric and
judgemental analysis in addition to statistical
techniques, such as averaging and geometric mean.
During primary interviews, questions regarding
historical trends of tractor market during the
last five years were put forward. Respondents
were asked about the current and future growth
rates, market share by vehicle type, across the
country. In order to forecast the India tractor
market, following forecast techniques have been
used

• Time Series Analysis
• Econometric and Judgmental Analysis
• Moving Average

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Rising mechanization in agriculture to drive
growth in India Tractor Market over 10 through
2023
I n d u s t r y B r i e f
According to TechSci Research report, India
Tractor Market, By Power Output, By Drive Type,
By Application, Competition Forecast
Opportunities, 2013 2023, the market for
tractors in India is projectedto grow at a CAGR
of more than 10 during the forecast period.
Anticipated growth in India tractor market can be
attributed to growing demand for food products
and increasing labor cost in the country.
Moreover, rising technological advancements in
tractor manufacturing processes has allowed
agricultural machinery manufacturers to offer
tractors at affordable prices, thereby further
propelling their adoption across the country.
Mahindra Mahindra TAFE are the most
recognized tractor manufacturers across the
country as more than 30 of the respondents
expressed knowledge of brands, in a voice of
customer survey conducted by TechSci Research.
Moreover, Mahindra Mahindra grabbed the
highest satisfaction level among all the customer
sections across the country.
With more than half of the volume share in
FY2017, 40-100 HP tractor category dominated
India tractor market on the back of high demand
for these tractors in the agriculture sector. On
the basis of drive type, India tractor market is
segmented into 2-wheel drive and 4-wheel drive.
2-wheel drive is the most preferred drive type
for tractors across the country. However,
4-wheel tractor sales are anticipated to grow at
a fast pace during the forecast period. Among
different applications, agricultural tractors
dominated the India tractor market in 2017.
Further, a large demand for tractors emanates
from North India due to the regions large
population base and huge arable land
area. Mahindra Mahindra Limited is the market
leader in India tractor market, followed by
Tractors And Farm Equipment Ltd. (TAFE), and
International Tractors Ltd. Increasing focus of
the tractor manufacturers towards producing
affordable yet reliable tractors, along with
growing preference towards high powered tractors
is expected to have a huge positive impact on
India tractor market in the foreseeable future.
Moreover, rising demand for food coupled with
various major manufacturers focussing on
increasing production of tractors and expanding
their product portfolio would significantly
boost demand for tractors across India during the
forecast period. said Mr. Karan Chechi,
Research Director with TechSci Research, a
research based India management consulting firm.
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S a m p l e D a t a - S n a p s h o t
Figure 8 India Tractor Market - Brand
Satisfaction Level, By Maintenance Cost (NXX)
Figure 1 India Tractor Market - Factors
Influencing Purchase Decision (NXX)
Figure 2 India Tractor Market - Brand Switching
(NXX)
Price
50.00
John Deere
50.00
Load Carrying Capacity
TAFE
Yes No Figure 16 India Tractor Market Share,
By Region, By Volume, FY2017 FY2023F
Maintenance Cost
Sonalika
FY2017
Government Support
North, 20.00
East, 20.00
Mahindra Mahindra
West, 20.00
South, 20.00
Financial Assistance by Company
Figure 12 India Tractor Market Share, By Power
Output, By Volume, FY2013-FY2023F
CAGR FY2018E- FY2023F By Value XXX By
Volume XXX
CAGR FY2013- FY2017
60.00 60.00 60.00 60.00 60.00 60.00 60.00
60.00 60.00 60.00 60.00
By Value XXX By Volume XXX
40.00 40.00 40.00 40.00 40.00 40.00 40.00
40.00 40.00 40.00 40.00
40 Under 100 HP Under 40 HP Source XXXXX
Note These are dummy figures please purchase
our report for actual data
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Value (USD Billion)
Volume (Thousand Unit)
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Report Name India Tractor Market, By Power
Output,
R e p o r t O r d e r i n g
By Drive Type, By Application, Competition
Forecast Opportunities, 2023
Report Price
License Type Price License Type Price
Electronic Access - Single User License 2500
CD-ROM Mail Delivery 3000
Hard Copy Mail Delivery 3500
Electronic Access - Multi-User License 5000
To View Sample OR Purchase Report
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A b o u t U s D i s c l a i m e r
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Disclaimer The contents of this report are based
on information generally available to the public
from sources believed to be reliable. No
representation is made that it is timely,
accurate or complete. TechSci Research has taken
due care and caution in compilation of data as
this has been obtained from various sources
including which it considers reliable and first
hand. However, TechSci Research does not
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of any information and it is not responsible for
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without notice. All the figures provided in this
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