Market Overview
India Agricultural Equipment Market reached USD 10.25 billion in 2024 and is expected to register remarkable growth during the forecast period with a CAGR of 5.24% during 2030.
These new technologies not only support sustainable agriculture but also assist in minimizing the environmental impact of the sector. By adopting these technologies, farmers can reduce their footprint on the earth while ensuring productivity and profitability.
Support from the Indian government has played a crucial role in propelling the market’s growth. The government has initiated programs to encourage the use of farm machinery to serve the nation’s mechanization needs. Among these is the provision of subsidies on the purchase of machinery, which makes the equipment affordable for small-scale and marginal farmers who usually lack sufficient finances.
| 𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐅𝐫𝐞𝐞 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐃𝐅 (Enter Corporate Email ID’ for a Free Sample Report):https://www.marketinsightsresearch.com/request/download/29/55714/india-agricultural-equipment-market |
The Indian farm equipment market is on a strong growth path, fueled by changing farming patterns, technological advancements, and government initiatives. With the nation further modernizing its agricultural sector, the need for efficient, high-tech, and sustainable farm equipment will continue to grow. This is a huge opportunity for manufacturers and suppliers to meet the changing requirements of farmers and help the agriculture industry develop sustainably.
Surge in Technological Advancements
Technological progress is rapidly evolving agriculture in India, transforming the practice of farming and creating new opportunities of expansion and growth. In addition to providing investment possibilities, these developments have a significant impact on rural India, elevating local communities and enhancing livelihoods. With the power of advanced technology, India’s agricultural economy is in a position to play a major role in the availability of world food supplies, securing food for millions of people worldwide.
These technologies include a broad spectrum of advancements, ranging from precision farming methods to advanced automated equipment. Precision farming methods, like soil and moisture sensors, allow farmers to maximize the use of resources, leading to higher productivity and efficiency. The introduction of automated equipment, such as intelligent harvesters and robotic milking systems, has transformed farming processes by minimizing labor dependency and optimizing processes.
The use of innovative agricultural machinery is advantageous to farmers in a variety of ways. It not only increases crop quality and quantity, but it also reduces the environmental degradation caused by farming activities. Farmers can now accurately monitor and control their fields with the assistance of GPS tractors and crop monitoring drones, which results in better crop quality and lower application of chemical inputs. The establishment of solar-powered irrigation systems and machinery based on biofuels supports green agriculture as the world focuses on sustainable agricultural practices.
While technology innovations continue to revolutionize the field of agriculture, the Indian farm equipment market is witnessing tremendous growth. Advanced, efficient, and sustainable farm implements are poised to see a spike in demand over the next few years, which will boost the growth of the market. Technology and agriculture have come together in ways unprecedented, opening new vistas for farmers as well as industry players alike for a brighter, more productive, sustainable, and prosperous future.
Segmental Insights
Type Insights
By type, the tractors segment was the leading segment in the Indian agricultural equipment market in 2024. Tractors, with their versatility, have multiple uses in agricultural operations. From developing land, ploughing, tilling, disking, to harrowing, they are an essential part of many agricultural operations. This versatility makes tractors a must-have for farmers, which has helped them hold the top position in the agricultural equipment market.
The shortage of labor has become a major driving factor for the use of farm mechanization. Tractors, which can do the work of multiple laborers at once, offer a viable solution to this problem. Their capacity to save time and minimize reliance on manual labor has made them very popular among farmers, transforming the manner in which agricultural operations are conducted.
Regional Insights
West India was the leading region of the India Agricultural Equipment Market in 2024, with the highest market value share. A number of policies have been instituted by the government of India in order to facilitate the adoption of agricultural machinery. These include subsidy provision and opening up credit to farmers, facilitating the acquisition of such equipment for farmers. Higher agricultural output in West India is a key driver of the demand for farm equipment. Improved irrigation, high-quality seeds, and new methods of farming have increased crop production, necessitating efficient farm equipment. The implementation of precision farming practices, including the use of drones and sensor-based technologies, has also been a driver of the demand for new agricultural equipment. The widespread availability of credit has been another major driver in the expansion of India’s agricultural machinery market. The majority of Indian financial institutions provide loans specifically for the purchase of agricultural machinery. Such loans usually are provided with low interest and easy repayment terms, enabling farmers to afford agricultural equipment.
| Buy this Premium Research Report to explore detailed market trends –https://www.marketinsightsresearch.com/report/buy_now/29/55714/india-agricultural-equipment-market |
Recent Developments
In December 2024, UPL-Sustainable AgriSolutions (UPL-SAS) is transforming Indian agriculture with a visionary approach focused on technology, digital innovation, and an integrated approach to address the sector’s multi-faceted challenges, CEO Ashish Dobhal told us in an exclusive interview. Working in an ecosystem of 400 million acres and touching the lives of 130 million farmers—of which 80-85% are small farmers—UPL-SAS is shifting from a conventional crop protection supplier to an integrated agricultural solutions partner. This new strategic direction indicates the company’s commitment to equipping farmers with end-to-end, customized solutions to increase productivity, sustainability, and resilience within the farm ecosystem.
Mahindra has released its innovative OJA series of lightweight 4WD tractors in August 2023, designed in collaboration with Mitsubishi Mahindra Agriculture Machinery. The OJA series includes seven unique models, integrated with cutting-edge technological advancements tailored to suit diversified market needs. The release emphasizes Mahindra’s dedication to providing adaptable and effective solutions for contemporary farming methodologies.
In September 2022, CNH Industrial’s New Holland Agriculture launched the Blue Series SIMBA in the sub-30 HP compact tractor range in India. The launch included the tractor as part of the Blue Series product line under the brand. The tractor is designed for particular operations like spraying, tilling, and inter-row cultivation and is aimed at applications in cotton, sugarcane, vineyards, orchards, and other such fields.
