Sunday, July 6, 2025
  • Home
  • About us
  • Privacy policy
  • Advertise with us
  • Contact us
Fii News Logo
No Result
View All Result
  • Tenders
  • Projects
  • Markets
  • Manufacturing
  • Investment
  • Technology
  • Exports
Newsletter
  • Tenders
  • Projects
  • Markets
  • Manufacturing
  • Investment
  • Technology
  • Exports
Fiinews
No Result
View All Result
Home Markets

Market: Agri machinery industry set for 6.69% CAGR

Fiinews by Fiinews
January 4, 2025
in Markets
Reading Time: 3 mins read
A A
0
Force Motors
0
SHARES
16
VIEWS
LinkedinShare on Twitter

0:00

Steep prices limiting farmers’ access to modern technologies

The agricultural machinery market in India is expected to reach Rs.1.66 trillion by FY 2029, expanding at a compound annual growth rate (CAGR) of ~6.69% during the 2024-2029 period https://www.conexpoconagg.com/.

In 2023, it was valued at Rs.1.13 trillion, according to a report on “Agricultural Machinery Market in India” which has been added to ResearchAndMarkets.com’s offering since 30 Dec 2024 https://www.bseindia.com/.

The robust demand for increased agricultural production in India is driven by the nation’s expanding population and fragmented land holdings, said the report https://www.nseindia.com/.

This robust demand has led to significant growth in the market for farm machinery, especially tractors and harvesting equipment, to boost productivity http://deutsche-boerse.com.

But it also cautioned that the steep prices of advanced machinery make it difficult for small and marginal farmers to invest, limiting their access to modern technologies https://www.wto.org/.

“Farmers may initially be hesitant to embrace new technologies due to the high costs involved because they remain apprehensive about receiving minimal returns on their investments,” said the report https://www.sgx.com/.

“Also, many farmers do not have sufficient information on modern farming equipment, which hinders their ability to utilize new solutions that could improve efficiency,” it highlighted http://agriexpo.co.za.

Yet government initiatives, such as the Pradhan Mantri Kisan Samman Nidhi and subsidies for agricultural machinery purchases, are encouraging farmers to adopt advanced technologies, further fueling the growth of India’s agricultural machinery market https://www.sgx.com/.

Nevertheless, with ongoing urbanization, there is a decrease in the availability of rural labor, resulting in increased wages for agricultural workers.

“This encourages farmers to invest in machinery to improve cost efficiency. The migration of rural workers to cities for improved job prospects leads to a lack of agricultural labor, prompting the use of machinery to sustain farm productivity,” said the report.

Key players in the market are:

Mahindra & Mahindra Ltd

Escorts Kubota Limited

Think & Learn Private Limited

Force Motors Ltd

Greaves Cotton Limited

Shivagrico Implements Ltd

VST Tillers Tractors Limited

John Deere India Private Limited

Tractors and Farm Equipment Limited

International Tractors Limited http://sonalika.com

CNH Industrial (India) Private Limited. Fiinews.com

Tags: ResearchAndMarkets.com
ShareTweetShare

Related Posts

Daimler India
Markets

Market: Daimler bullish on construction sector

by Fiinews
July 6, 2025
0
18

Chaturvedi reports strong demand for factory-fitted features Citing the Indian mining and construction equipment sector growth projected to reach US$45...

Carbon Clean Logo
Markets

Market: GIC dedicated to Carbon Capture research

by Fiinews
July 4, 2025
0
19

UK Govt's support instrumental in Carbon Clean's growth journey Carbon Clean, a global leader in revolutionising carbon capture solutions from...

Servify

Market: Recommerce set for 11.7% CAGR in 2025

July 4, 2025
17
PIB

Market: India-Ghana upgrade bilateral relations

July 4, 2025
15
PIB

Market: Minister discusses opportunities in Dubai

July 3, 2025
18
Torrent Logo

Market: Torrent to merge with JB Pharma in India

July 1, 2025
15
SBI YONO

POPULAR NEWS

  • Cristina Dnv

    Projects: Indian yards set to build green ships, says DNV expert

    0 shares
    Share 0 Tweet 0
  • Market: Indian-origin UGF scales heritage consumer brands globally

    0 shares
    Share 0 Tweet 0
  • Technologies: Royal Diamond sponsors aerspace Industries’ drones in UAE

    0 shares
    Share 0 Tweet 0
  • Investments: Foreign investors see India as long-term destination for fund placings

    0 shares
    Share 0 Tweet 0
  • Markets: Blue Dart maintains positive outlook on India

    0 shares
    Share 0 Tweet 0

Fiinews.com features through news articles on business opportunities in the Indian market for the benefits of foreigners. It is also a platform for international businesses to showcase through elaborate articles on their products & services to the Indian consumers and corporations exploiting industrialisation of the country.

7Clicks Media is a Singapore based Media & PR company offering over 100,000
impressions via our targeted communication strategy.

It is led by editor-in-chief Gurdip Singh who has worked over 45 years reporting on
Asian businesses.

Recent News

  • Export: India to ship non-GMO soybean to EU
  • Tender: Take care of new urban development
  • Manufacturing: Framework on Drones by Sep-Oct
  • Project: Joint maritime professionals launched
  • Market: Daimler bullish on construction sector

Pages

  • About US
  • ADVERTISE ON FIINEWS.COM
  • CONTACT US
  • EVENTS
  • FII-NEWS.COM PDF ARCHIVE
  • Home
  • News
  • PRIVACY POLICY

Subscribe to Newsletter

  • About
  • Advertise
  • Careers
  • Contact us

© 2024 FIINEWS - Design and developed by 7clicksmedia.

No Result
View All Result
  • Tenders
  • Projects
  • Markets
  • Manufacturing
  • Investment
  • Technology
  • Exports

© 2024 FIINEWS - Design and developed by 7clicksmedia.