Who are the popular Agriculture Equipment Manufacturing Companies in India?
Agriculture is important for economic development and agricultural equipment support, but it is also a hindrance to enhancing the agricultural sector's performance. In rural India, labour scarcity is a reality, and farmers bear the brunt of it. Farmers were introduced to tools, low-cost machinery, and farm equipment, which attempted to lessen their reliance on labour. In the next days, farming activities in India will become increasingly mechanised, and the availability, quality, and performance of agricultural equipment will have an increasing impact on the agricultural sector's output and productivity.
Due to rising food demand, the agricultural machinery and equipment market is quickly expanding. Increasing rates of mechanisation in developing countries are also driving it. Increased agricultural investments, as well as government, pushes for farm mechanisation, have been the driving forces behind the rise in farm mechanisation in India. Over the projected period, the Asia Pacific area is expected to grow fast due to increased demand for agricultural equipment, particularly from India
In 2011, the percentage of agriculture mechanisation in India was 54.80%, and in 2013, it was 59%. The rise of large-scale bespoke hiring service businesses in agricultural machinery has resulted in an increase in farm mechanisation. Furthermore, according to the World Bank statistics, the Asia Pacific region's overall population is expected to reach 4.17 billion in 2030.
In India's agricultural equipment market, there are two segments:
- Heavy Agricultural Machinery (HAM)
- Light Agri Machinery (LAM)
The established market's major products, however, are tractors, tractor-driven equipment, and power tillers. Agri-machinery has a large market in India because farming is the primary source of income for the majority of the population. When it comes to HAM, there are a lot of prominent players, but when it comes to LAM, there are very few.
Companies in the HAM market:
- HMT Limited
- International Tractors Limited (Sonalika)
- Eicher Tractors
- L&T John Deere Private Limited
- Bajaj Tempo Limited
- GroMax Tractors
Companies in the LAM market:
- Greaves Cotton Limited
- Bengal Tools Limited
- Southern Agro Engines
- VST Tillers Tractors Limited
- KAMCO Limited
- Kirloskar Private Limited