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(EstateNewsWire.com, November 05, 2019 ) Market Overview
• Agricultural equipment is machinery used in farming or other agriculture. There are many types of such material, from hand tools and power tools to tractors. Construction equipment is used in constructions to shift large amounts of dirt, dig foundations, and landscape areas..
Market Dynamics:
• Investment in infrastructure is the main growth driver of the construction equipment industry. The NITI Aayog estimates total infrastructure spending to be about of 9 per cent of GDP during the 12th Five Year Plan (2012-17), up from 7.2 per cent during the previous plan (2007-12). Moving forward India’s investment in infrastructure is estimated to double to about USD1 trillion during the 12th Five Year Plan (2012-17) compared to the previous Five-Year Plan. The Government intends to increase the paved road to total road ratio and build more national highways. Where China submitted a five-year trade and cooperation plan to India offering its willingness to finance 30 per cent of government’s USD1 trillion investment target. Owing to these prospects Japanese construction equipment manufacturer, Kobelco Construction Machinery Co.’s Indian subsidiary to double its annual production capacity from 1,200 units per year to 2,500 units per year, so as to meet the increasing demand for heavy construction equipment.
• However, recent macro-economic factors in the country will likely have negative impact on construction equipment market for short term in India. This is further expected to hinder the growth of agricultural and construction equipment market globally during forecast period.
https://www.datamintelligence.com/download-sample/india-agriculture-and-construction-equipment-marke">Market Segmentation
• India agriculture and construction equipment market is segmented on the basis of agriculture equipment into 200 HP Tractor.31-100 hp Farm Tractor Market accounted for 88.50% share in the India Agricultural and Equipment market in 2017. About 78% farm holdings belong to small and marginal farmers, about 22% belongs to semi medium, medium and large farm holders, Therefore, 35 hp tractors are most commonly used in India. The primary reason of using 35 hp tractors in India is predominant percentage of farmers engage in small-scale agriculture.
• In addition, provision of subsidy by Government of India for tractors < 35 hp also propels the preference of these tractors in the country. Pertaining to medium to large scale agriculture, tractors with high horsepower, usually ranging between 45hp – 70hp, are required to perform diverse farming activities such as mowing and tilling. The market competitiveness in specific to 31-100hp is considered is to be very high in India. The market has a presence of multiple international and local players. Mahindra & Mahindra Limited, Tractors and Farm Equipment Limited, and TAFE are prominent players in India.
Competitive Analysis
• The Indian farm equipment Tractor industry is consolidated with the selected major players accounting for major market share. The top five players in this market include – Mahindra and Mahindra, TAFE, Escorts, Sonalika and John Deere. These five companies account for more than 80% of the share in the tractor industry.
• There are multiple other domestic companies alongside five global one’s manufacturing tractors in the country. Swaraj division is a tractor and farm equipment making company owned by Mahindra & Mahindra Ltd. Summing the sales of Swaraj tractors together with Mahindra & Mahindra together the group holds 39% market share, followed by TAFE. Overall, Mahindra and Mahindra hold the major market of 39% of the market, followed by TAFE and Escorts.
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