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.
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 OEM||FY23||Market Share (%)|
|FY22||Market Share (%)|
|MAHINDRA & MAHINDRA LIMITED (TRACTOR)||1,76,736||21.36%||1,45,916||19.04%||21%|
|MAHINDRA & MAHINDRA LIMITED (SWARAJ DIVISION)||1,28,698||15.55%||1,04,674||13.66%||23%|
|INTERNATIONAL TRACTORS LIMITED||97,743||11.81%||89,962||11.74%||9%|
|ESCORTS LIMITED (AGRI MACHINERY GROUP)||79,531||9.61%||66,543||8.68%||20%|
|JOHN DEERE INDIA PVT LTD (TRACTOR DEVISION)||60,450||7.31%||52,489||6.85%||15%|
|CNH INDUSTRIAL (INDIA) PVT LTD||30,047||3.63%||25,520||3.33%||18%|
|KUBOTA AGRICULTURAL MACHINERY INDIA PVT.LTD.||20,753||2.51%||16,424||2.14%||26%|
|V.S.T. TILLERS TRACTORS LIMITED||5,290||0.64%||5,993||0.78%||-12%|
|FORCE MOTORS LIMITED, A FIRODIA ENTERPRISE||4,312||0.52%||4,146||0.54%||4%|
|PREET TRACTORS PVT LTD||3,605||0.44%||4,756||0.62%||-24%|
|INDO FARM EQUIPMENT LIMITED||3,456||0.42%||3,601||0.47%||-4%|
|CAPTAIN TRACTORS PVT. LTD.||3,451||0.42%||3,902||0.51%||-12%|
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