SHERIDAN, WY, UNITED STATES, August 23, 2022 /EINPresswire.com/ -- According to the latest report by IMARC Group, titled “India Agricultural Equipment Market: Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2022-2027,” the Indian agricultural equipment market reached a value of INR 926 Billion in 2021. Looking forward, IMARC Group expects the market to reach INR 1,689 Billion by 2027, exhibiting a CAGR of 10.6% during 2022-2027. Agriculture equipment refer to tools that farmers utilize to perform a particular agricultural operation. These equipment are equipped with IoT applications, GPS solutions, and others utilized in numerous verticals, including land development, threshing, harvesting, and soil preparation. Agriculture requires the usage of many types of equipment, such as tractors, harvesters, seeding, hay and forage, cutters and shredders, and land leveler. Various agricultural tasks, such as plowing, tilling, planting, disking, harrowing, and spraying the pesticide, are performed using these types of equipment. Its benefits include gaining a high crop yield comparatively less time with minimum effort.

The Indian market is majorly driven by increasing government initiatives to support agricultural production. In line with this, numerous governmental bodies have been offering low import duties, low-interest rates, and various initiatives to make the soil preparation and cultivation process efficient and faster. Furthermore, the adoption of technologies, including mechanized IoT implementation, AI-based equipment, GPS-enabled equipment, and flying drones, is offering numerous market growth opportunities. Apart from this, the implementation of agriculture robotics, including autonomous tractors, ground-based sensors, and others that help produce food at reasonable costs, is creating a positive outlook for the market.

We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

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Indian Agricultural Equipment Market Trends:

Additionally, several microfinance institutions and banks have been set up across all the regions to facilitate the ease of availability of credit to procure agriculture machinery, thus providing a boost to the product demand. Growing mechanization in the agriculture sector, coupled with the inflating farmers’ income levels, is expected to contribute to the growth of the market. Favorable climatic conditions for food production, along with government support offering loan waiver schemes for farmers of all income categories, are projected to favor the market growth. The widespread adoption of precision farming is further strengthening the market. Moreover, innovation of digitally advanced products, such as modernization and research and development operations, is positively influencing the market.

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Indian Agricultural Equipment Market 2022-2027 Analysis and Segmentation:

Breakup by Type:

• Tractors
• Trailer
• Harvesters
• Planting Equipment
• Irrigation and Crop Processing Equipment
• Spraying Equipment
• Hay and Forage Equipment
• Others

Breakup by application:

• Land Development and Seed Bed Preparation
• Sowing and Planting
• Weed Cultivation
• Plant Protection
• Harvesting and Threshing
• Post-Harvest
• Agro-Processing

Breakup by Region:

• North India
• South India
• West India
• East India

Competitive Landscape:

The competitive landscape of the market has also been analyzed in the report with the detailed profiles of the major players operating in the market.

Key highlights of the Report:

• Market Performance (2016-2021)
• Market Outlook (2022-2027)
• Porter’s Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Comprehensive Mapping of the Competitive Landscape

Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.

About Us:

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

Elena Anderson
IMARC Services Private Limited
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