India Farm Equipment Market: By Type; By Phase; By State - Forecast 2017-2022

Farm Equipment, also known as Agricultural Equipment, involves all those machineries which aid in the production of crops and agricultural livestock. Farms require a varied range of equipment, suited for different farming scale and environments. Farm equipment is used by a number of agricultural workers across different states in India and is deployed across an extensive range of farm practices such as planting, irrigation, harvesting, and others. With growing concern over food safety in India, there has been an increasing emphasis on crop processing equipment. The Indian farm equipment market is valued at $XXm in 2016 and is estimated to reach revenue of $XXm in 2022 with an anticipated CAGR of XX% during 2017-2022.

The Indian farm equipment market is experiencing a rapid growth with strong potential for future growth. India has remained one of the primary nations which fuelled the growth of the farm equipment market. The tractors, power tillers, combine harvesters and rice transplanters are some of the equipment for which a surge in demand has been seen in the past few years. The tractors account for the major growth in the farm equipment market of India representing around xx% of the total market.

Punjab, Uttar Pradesh and Haryana are the largest markets for tractors, together accounting for more than 50 per cent of sales. The sales in Punjab and Haryana are driven largely by the presence of consolidated wheat farms and owing to the emergence of corporate participation in the process of agriculture through promotion of contract farming and sourcing. Major players in the India farm equipment market are Mahindra & Mahindra Ltd. (India), Deere & Company (India), Escorts Group (India), Netafim Ltd (India) and Tractors and Farm Equipment Limited.