India Tractor Market Synopsis
The Tractor Market in India is expected to grow during the forecast period. The growth is mainly due to the increasing demand for tractors from the agriculture sector, which is witnessing a revival owing to the increasing incidence of extreme weather conditions and unpredictable monsoons.Further, the government’s efforts towards improving agricultural productivity through initiatives such as Pradhan Mantri Krishi Sinchai Yojana are also expected to drive demand for tractors in the country. However, lack of infrastructure and an unreliable power supply are restraining the growth of the tractor market in India.
According to 6Wresearch, the India Tractor Market size is expected to grow during 2022-2028. The India Agricultural Sector is one of the most important sectors in the world and this gives rise to the India Tractor Market. There are a number of factors that are contributing to this growth, such as increased investment in rural infrastructure, improved irrigation and drainage systems, and rising incomes.
Drivers and Restraints of the India Tractor Market
The growth of the market is attributed to the increasing demand for tractors in rural and semi-urban areas due to the rising need for agricultural mechanization. In addition, the government’s initiatives such as ‘Make in India’ are expected to help boost the market trend.However, several factors that could hamper the growth of the India tractor market include high import tariffs and lack of spare parts availability. Moreover, stringent regulations pertaining to safety and environmental issues are also restraining the market growth.
Key attractiveness of the report
- COVID-19 Impact on the Market.
- 10 Years Market Numbers.
- Historical Data Starting from 2018 to 2021.
- Base Year: 2021.
- Forecast Data until 2028.
- Key Performance Indicators Impacting the Market.
- Major Upcoming Developments and Projects.
COVID-19 Impact on India Tractor Market
The pandemic had a positive impact on the India Tractor Market which is an essential part of the Asia Pacific Tractor Market. It was due to the growing demand of the agriculture products such as vegetables, cereals, and fruits in the nation. India Tractor Market is one of the most important sectors. Therefore, it impacted positively even during the pandemic. Pandemic was the time when people become more health conscious than every before. They wanted to be healthy. This led to a growth in the market. This is an ever-growing market since it meets the basic requirements of people.
Key Highlights of the Report
- India Tractor Competitive Benchmarking By Technical and Operational Parameters
- India Tractor Market Trend Evolution
- Historical Data and Forecast of India Tractor Revenues & Volume for the Period 2018 – 2028
- India Tractor Company Profiles
- Forecast of India Tractor Market, 2028
- India Tractor Key Strategic Recommendation
- India Tractor Price Trends
- Historical Data and Forecast of India Tractor Market Revenues & Volume By Power Output for the Period 2018 – 2028
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