The India’s agriculture equipment market is thriving with the rapid urbanization and investment from all the level of local governments. India is a $2.6 trillion economy and has seen growth in the upward of 6% in the past decade. India has approximately 18 million hectares of arable land, which makes for India’s position as the 2nd highest farm output producing country in the world, only next to China. India is home to more than 0.8 billion individuals who depend on Agriculture for their livelihood.

However, by 2050, the Indian urban population is expected to grow sharply, which would result in only 25% of the Indian agricultural work force from the current 58%. This trough presents an enormous opportunity for farm mechanization in the country.

In the light of this, India Off-Highway Vehicle Summit 2019 was held from 27th to 28th November, this year in Pune, India. BIS Research was honored to be a part of the same. With the focus on latest policies and standards, emission reduction and fuel-saving, as well as industrial transformation.

There were attendees from 50+ companies in the event, with speakers from 17+ companies such as Mahindra and Mahindra, John Deere, Cummins, and VDMA. BIS Research was represented by Rakhi Tanwar, Principal Analyst in the agricultural vertical. We presented “Analysis of Growth, Trends, and Forecast of Agricultural Machinery in India”.

Pivotal Points Discussed in the Presentation by BIS Resaerch:

• Analysis of Indian Agricultural Machinery Market:
       - Assessing farm mechanization: Harvesting and Threshing mechanization
         occupy the major segment in the crop value chain (60-65% levels of
         mechanization in the country)
       - Indian farm equipment market: Tractors occupy the major share in this 
         market
• Agriculture 4.0: The Future of Agri-Mechanization:
       - The breakthrough approach of Agriculture 4.0, integrates farm management
          and precision agriculture with technology, including sensors, smart
          tools, satellites, the IoT, remote sensing, and proximal data gathering
       -  The adoption scenario of Agriculture 4.0
       -  Key technology pillars of agriculture: IoT, Blockchain and Artificial 
          Intelligence
• Next-Generation Agriculture Machinery Trends:
       -  Autonomous and driverless tractors - Global Autonomous & Driverless
          Tractors Market, 2020-2028 - 78.11% CAGR
       -  Harvesting and picking robots - Global Harvesting & Picking Robots Market,
          2018-2023 - 45.36% CAGR
       -  Agriculture machinery rental market - expected to have a high growth in the
          future
• Futuristic Scenario
       -  Decreasing farmer and agri-labor population: a wide scope for farm   
          equipment and machinery market in the future
       -  Increasing GLC Flow and objectives of doubling farmers’ income by 2022: a
          major driver for increase in investments in Agriculture
       -  Policies such as RKVY-RAFTAAR and Mission for Integrated Development of
          Horticulture (MIDH): impetus for agri-mech sector
       -  High farm-mechanization growth potential in North-Eastern states of India
       -  Technologies such as IoT, Blockchain, AI, ML, and Data Analytics could 
           possibly revolutionize the agriculture machinery industry in India
       -   Agriculture Machinery Rental Market – a good investment pocket for agri-
          machinery manufacturers
  

Hence, it was an enriching experience sharing the platform with the experts in the industry and a glittering opportunity to present our perspective on the analysis of agricultural machinery in India.

BIS Research has predominantly worked upon the key components of modern agricultural and food technologies, with extensive market research reports on Human & Animal Nutrition, Advanced Farming Equipment & Technologies, New Farming Methods, and Crop Protection Chemicals.

Related Reports on Off-Highway Vehicles (From our Repository)

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