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Home Industry

Domestic Tractor Industry in India 2022

Raveendran R by Raveendran R
April 18, 2022
in Industry
Reading Time: 5 mins read
4
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Here you get to know about Tractor Industry in India, Overview, Performance, and lists of states by share of Tractor industry.

The domestic tractor industry in India comprises of several Indian origin and international OEMs. Over the last few years, domestic tractor industry has seen increasing competitive intensity.

Tractor Industry in India

International players are establishing deeper presence in India through exploring strategic alliances with Indian OEMs. To remain competitive in a very value conscious market, tractor OEMs are competing to offer better value proposition to farmers.

  • Over 80% of tractor sales are in the 31 to 50HP segment.
  • Uttar Pradesh retained its No.1 position in tractor sales with 17.4 % Industry Share
  • Top ten states constitute to 83% of Industry Share

Indian Tractor Industry

Companies are launching products with attractive features at competitive price points. Indian Tractor Industry is typically classified under the following segments

  • < 20HP,
  • 20-30HP,
  • 31-40HP,
  • 41-50HP and
  • > 50HP.

Over 80% of tractor sales are in the 31 to 50HP segment. Over the past ten years (F10 to F20), there has been good growth in the > 50 HP segment as well as the < 20HP segment. The growth in the > 50HP segment is driven by need for tractor versatility and evolution of farming practices especially in case of farmers with large land holdings.

The 31-50 HP segment that accounts for more than 80% of industry
The 31-50 HP segment that accounts for more than 80% of industry

The growth in the < 20HP segment is a result of increased affordability amongst farmers with smallmedium land holding and the growing need for mechanisation. Horticulture is a growing segment in the agri economy. There has been consistent growth in horticulture production over last few years.

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The domestic tractor industry has grown 6% CAGR in the period F10 to F20, which is a slight deviation from the historical trend. This is primarily due to decline in tractor industry in FY2020 after three years of consecutive growth from FY2016 to FY2019.

However, with the current focus of the Government on development of agriculture sector, growing need of tractors in non-farm sector and consistent growth in overall rural economy over the years, the longterm outlook for the Indian tractor industry is promising.

Tractor Industry in the Year FY2020

FY2020 was a challenging year for the Indian tractor industry. In the given financial year, the Indian tractor market (the world’s largest by volume), declined by 9.9% and industry volume dropped to 709,002 units.

Tractor industry recorded de-growth in FY2020 after three consecutive years of growth. In the three years from FY2016 to FY2019, industry had grown by 54.8% and reached a
peak of 787,304 in FY2019. The sharp decline in the tractor industry in FY2020 can be
primarily attributed to the slowdown in the overall economy, impacting the rural and agri sector both in terms of income and sentiments.

Top 10 Tractor Companies in India

Tractor Industry performance for FY2020

The industry performance for FY2020 needs to be reviewed in two parts, the first eight months (April – November 2019 where the industry de-grew 11.1%, and the next four
months (December 2019 – March 2020).

lists of states by share of Tractor industry and growth
lists of states by share of Tractor industry and growth

Uttar Pradesh retained its No.1 position in tractor sales, followed by Madhya Pradesh and Rajasthan, same as FY2019. Top ten states which constitute to 83% of domestic industry, posted a de-growth of 4.3%.

lists of states by share of Tractor industry and growth

Key states of Uttar Pradesh and Maharashtra which account for 25% of tractor industry, posted a de-growth of 10.9% and 2.9% respectively. Some agriculturally important states like Chhattisgarh, Telangana, Rajasthan, Madhya Pradesh and Punjab registered growth of 12.2%, 11.2%, 5.1%, 1.5% and 1.3% respectively.

Good growth in Chhattisgarh and Telangana can be attributed to focused interventions of State Government for farmers welfare, supported by good rains and high crop output during the year. The 31-50 HP segment that accounts for more than 80% of industry.

Which is the No 1 tractor in India?

Mahindra & Mahindra which is owned by Mahindra Group is the No 1 Tractor brand in India based on the sales.

Who is the biggest manufacturer of tractor in India?

Mahindra is the Largest and Biggest Manufacturer of Tractor in India

How many tractors are sold in India?

In the Year 2020, the Indian tractor market (the world’s largest by volume) Stood at 709,002 units [Tractors].

Tags: TRACTOR
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Raveendran R

Raveendran R

Editor @ Indiancompaies.in

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Comments 4

  1. Shailendra says:
    3 years ago

    Could you pls share the same state wise % of tractor sales

    Reply
  2. Tractor Price says:
    3 years ago

    Awesome post! This is very helpful post for us

    Reply
  3. Vijay says:
    3 years ago

    Good post! I am very impressed by your work towards your post for sharing such useful information. Thank you.

    Reply
  4. Anuskha says:
    4 years ago

    How many tractor manufacturing companies are in India?

    Reply

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