Mechanization and Technology

Tractor sale in India crosses 8 lakh mark

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15 April 2023, New Delhi: The financial year 2022-23 has been good for the Indian tractor manufacturers. Out of 14 major tractor manufacturing brands in India, 7 tractor manufacturing brands have recorded double-digit growth over the last year. The industry grew by 8% in the financial year 2022-23 and expects to cross the 10 lakh mark by 2025 if the growth trends continue in a similar way.

Overview

In the financial year 2022-23, a total of 8,27,403 tractors were sold across the country whereas, in the year 2021-22, a total of 7,66,545 tractors were sold across the country.

Mahindra & Mahindra (Tractor) Limited took a market share of 21.36% with a total of 1,76,736 tractors. It was followed by Mahindra’s Swaraj Division with 1,28,698 tractors occupying a market share of 15.55%. International Tractors Limited accounted for the third highest tractor sale in India with 97,743 tractors occupying a market share of 11.1% followed by TAFE Limited and Escorts Limited (Agri Machinery Group).

The industry is hoping for an average of 8% growth in the financial year 2023-24 with supporting weather conditions and favorable government policies. The Indian Meteorological Department (IMD) has forecasted a normal monsoon contradicting the forecast of global researchers predicting ‘El Niño’.

Tractor sale in India during financial year 2022-23

Tractor OEMFY23Market Share (%)
FY23
FY22Market Share (%)
FY22
Growth
MAHINDRA & MAHINDRA LIMITED (TRACTOR)1,76,73621.36%1,45,91619.04%21%
MAHINDRA & MAHINDRA LIMITED (SWARAJ DIVISION)1,28,69815.55%1,04,67413.66%23%
INTERNATIONAL TRACTORS LIMITED97,74311.81%89,96211.74%9%
TAFE LIMITED92,54611.19%81,21710.60%14%
ESCORTS LIMITED (AGRI MACHINERY GROUP)79,5319.61%66,5438.68%20%
JOHN DEERE INDIA PVT LTD (TRACTOR DEVISION)60,4507.31%52,4896.85%15%
EICHER TRACTORS52,8706.39%51,0656.66%4%
CNH INDUSTRIAL (INDIA) PVT LTD30,0473.63%25,5203.33%18%
KUBOTA AGRICULTURAL MACHINERY INDIA PVT.LTD.20,7532.51%16,4242.14%26%
V.S.T. TILLERS TRACTORS LIMITED5,2900.64%5,9930.78%-12%
FORCE MOTORS LIMITED, A FIRODIA ENTERPRISE4,3120.52%4,1460.54%4%
PREET TRACTORS PVT LTD3,6050.44%4,7560.62%-24%
INDO FARM EQUIPMENT LIMITED3,4560.42%3,6010.47%-4%
CAPTAIN TRACTORS PVT. LTD.3,4510.42%3,9020.51%-12%
Others67,9158.21%1,10,33714.39%-38%
Total8,27,403100.00%7,66,545100.00%8%
 Source: FADA Research

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