Indian tractor market has seen sluggish growth in the year 2015, due to various factors such as abnormal rainfall with uneven spread and timing, and week farmer sentiments. This uncertainty has lead toreduction in Kharif and Rabi crop production by nearly 6%, in turn affecting the tractor industry. GrowthPraxis estimates that the,tractor industry in India is expected to grow at a CAGR of 7% in the next five years, but there are some emerging trends in this industry, which will act as the drivers for sales growth. The key drivers are growing production and sales in the less than 20 HP and greater than 50 HP tractor segment, transformation of companies in the industry and socio-economic parameters.
“The Indian Tractor Industry Will See A Significant Shift In Consumer Preferences Going Forward”
Learn more about the key trends in the ‘The Indian Agricultural Mechanization Industry’ by clicking the link below.