Global Agriculture Cultivation Implements Market 2019 Share, Trend, Segmentation and Forecast to 2024 adds “Agriculture Cultivation Implements Market 2019 India Analysis, Growth, Trends and Opportunities Research Report Forecasting to 2024”

PUNE, MARKETERSMEDIA, INDIA, May 14, 2019 / — Summary adds “Agriculture Cultivation Implements Market 2019 India Analysis, Growth, Trends and Opportunities Research Report Forecasting to 2024” reports to its database.

This report provides in depth study of “Agriculture Cultivation Implements Market” using SWOT analysis i.e. Strength, Weakness, Opportunities and Threat to the organization. The Agriculture Cultivation Implements Market report also provides an in-depth survey of key players in the market which is based on the various objectives of an organization such as profiling, the product outline, the quantity of production, required raw material, and the financial health of the organization.

Farm mechanization in India is in its nascent stage, with a paradigm shift towards use of mechanized farm Implements and a considerable decline in the use of animal and human power. The adoption rates of these Implements have been on a rise, and a clear indicator of this is the rise in sale of major Implements like Rotavators and Tillers. Presently, India is one of the largest manufacturers of Tractors, Harvesters and Tillers.
Implementation of the ‘Sub-Mission on Agricultural Mechanization’ and evolution of custom hiring models has acted as a catalyst for inclusive growth of agriculture mechanization by ensuring its last mile reach to small and marginal farmers. During the period FY’2012-13 to FY’2017-18, the agriculture Implements market in India has grown at a CAGR of 10.6% and is expected to increase in coming 5 years. Expansion of modern trade and outreach of major players such as M&M, V.S.T Tillers Tractors Ltd. and others has also benefitted the market immensely.

Regional Dispersion
The market for farm Equipment has witnessed a skewed development with penetration of Tractors tilted towards northern states like Punjab and Haryana whereas the penetration of Power Tillers is higher in Southern and Eastern India. Similarly, states such as Assam, Mizoram, Sikkim, Arunachal Pradesh has the highest consumption of hand operated Implements due to prevalence of small land holdings. Limited holdings of farmers coupled with rising income levels in rural areas provide a huge untapped opportunity, which once penetrated would make India as the leading producer of Agriculture Implements.

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Implements Categorization
Over the years agriculture sector has attracted large conglomerates, leading investors and young entrepreneurs, who are actively involved in leveraging technology to help farmers to use implements without indulging in major investment. During FY’2017-18, Rotavators accounted for 27.5% of the overall agriculture Implements market revenue. The demand for Power Tillers imported from China has witnessed a surge thereby strictly hampering the revenues of indigenous manufacturers.

Innovations by Leading Players
Technological advancements by leading players like M&M has taken this market to commanding heights. Introduction of driverless Tractors offers a distinct advantage to farmers by bringing an unprecedented level of intelligence to the Tractors which is ultimately benefit the market for farm Implements. Additionally, development of high HP Tractors will boost the market for major Implements like Multispeed Rotavators and Seed & Fertilizer Drill.

Policy Framework
The Farm Machinery Training and Testing Institutes (FMTTIs), are actively involved in imparting training to farmers in the selection, operation, maintenance and management of agriculture Implements. National Portal on Mechanization and Technology is an active online portal launched by Department of Agriculture to help farmers across the country to get acquainted with all the types of schemes and subsidies they are eligible for. Online booking of farm equipment testing, financial assistance and other facilities can directly be accessed by farmers. Additionally, financial assistance in the form of subsidy at the rate of 25-40 per cent under RKVY, NFSM, NHM, and NMOOP has been provided as per guidelines of SMAM to the farmers for individual ownership of agricultural Implements.

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Untapped Potential
India Agricultural Implements Market is projected to register a positive CAGR during the period FY’2017-18 to FY’2021-22. Shift in government focus from food security to farm income security, increased coverage under SMAM scheme and waiving of farmer loans by state and central governments is expected to drive the sales of agricultural implements in the future.

Scope of Study
The synopsis presented has been derived from the report titled “India Agriculture Cultivation Implements Market – An Outlook to 2022” published by MCORE Business Research. The report provides a holistic perspective of past, present and future market performance. The report provides a comprehensive analysis on various parameters including Agriculture Implements market revenue, market categorization by function, types of Implements and value chain analysis.
Report also decodes level of mechanization across different regions of India and thereby highlighting opportunities, which may help market players to leverage untapped business potential in the particular geography.

The key players covered in this report are:
Mahindra and Mahindra, Greaves Cotton Limited, Honda Siel Power Products Ltd, V.S.T Tillers Tractors Ltd., Tirth Agro Technology Pvt. Ltd., Kerala Agro Machinery Corporation Ltd. (KAMCO), Beri Udyog Pvt. Ltd., ASPEE Group of Companies, John Deere India Pvt. Ltd., LEMKEN India Agro Equipment Pvt Ltd., Saeco Strips Pvt. Ltd.

Key Questions Answered
• What is the total size of Agriculture Implements Market?
• How has the Agriculture Implements Market performed in recent years?
• How is Tractor Industry performing in India?
• What is the share of various Implements in total revenue of market?
• Who are the leading players and what are their key strategies?
• What are the key drivers in Agriculture Implements market?
• What is the role of government in present and future performance of the market?
• What is the future outlook of Agriculture Implements market in India?

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Source: EIN Presswire