India Agricultural Tractor Market Size & Outlook
India agricultural tractor market, 2018-2030 (US$M)
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India agricultural tractor market highlights
- The India agricultural tractor market generated a revenue of USD 42,094.5 million in 2023 and is expected to reach USD 78,205.1 million by 2030.
- The India market is expected to grow at a CAGR of 9.3% from 2024 to 2030.
- In terms of segment, less than 40 hp was the largest revenue generating engine power in 2023.
- Less than 40 Hp is the most lucrative engine power segment registering the fastest growth during the forecast period.
Agricultural tractor market data book summary
| Market revenue in 2023 | USD 42,094.5 million |
| Market revenue in 2030 | USD 78,205.1 million |
| Growth rate | 9.3% (CAGR from 2023 to 2030) |
| Largest segment | Less than 40 hp |
| Fastest growing segment | Less than 40 Hp |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Less than 40 Hp, 41 to 100 Hp, More than 100 Hp |
| Key market players worldwide | AGCO Corp, CNH Industrial NV, Deere & Co, CLAAS, Kubota Corp, Mahindra & Mahindra Ltd DR, International Tractors Ltd, Yanmar, Escorts, Tractors and Farm Equipment |
Other key industry trends
- In terms of revenue, India accounted for 40.2% of the global agricultural tractor market in 2023.
- Country-wise, India is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, India agricultural tractor market is projected to lead the regional market in terms of revenue in 2030.
- India is the fastest growing regional market in Asia Pacific and is projected to reach USD 78,205.1 million by 2030.
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Agricultural Tractor Market Scope
Agricultural Tractor Market Companies
| Name | Profile | # Employees | HQ | Website |
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India agricultural tractor market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to agricultural tractor market will help companies and investors design strategic landscapes.
Less than 40 hp was the largest segment with a revenue share of 37.8% in 2023. Horizon Databook has segmented the India agricultural tractor market based on less than 40 hp, 41 to 100 hp, more than 100 hp covering the revenue growth of each sub-segment from 2018 to 2030.
The growth of the market can be attributed to the rise in the mechanization of agricultural machinery such as tractors in states such as Tamil Nadu, Telangana, Punjab, Haryana, Madhya Pradesh, and Maharashtra.
Moreover, the market growth is driven by the increasing demand for heavy-duty tractors for multiple applications, including planting, and sowing. Companies such as Escorts Limited and Mahindra & Mahindra Ltd. offer tractors with a power output range of 50 – 100 HP in India.
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Target buyers of India agricultural tractor market databook
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Our clientele includes a mix of agricultural tractor market companies, investment firms, advisory firms & academic institutions.
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30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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The rest of the revenue is generated working with academic and research not-for-profit institutes. We do our bit of pro-bono by working with these institutions at subsidized rates.
Horizon Databook provides a detailed overview of country-level data and insights on the India agricultural tractor market , including forecasts for subscribers. This country databook contains high-level insights into India agricultural tractor market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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India agricultural tractor market size, by engine power, 2018-2030 (US$M)
India Agricultural Tractor Market Outlook Share, 2023 & 2030 (US$M)
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