London, 09 October 2014: TechNavio, the independent tech-focused global research firm, has published a report on the Agricultural Machinery Market in India 2014-2018, which is expected to grow at a CAGR of 7.30 percent during 2013-2018.
One of the major trends in the Global Agricultural Machinery market is the arrival of new technologies. Farmers worldwide are trying to increase their agricultural output by planting more crops in their farmland. Mechanization helps provide uniformity in performing agricultural tasks such as sowing ande helps apply the proper fertilizer in an even manner to enable the proper germination of seeds. Moreover, modern tractors are equipped with features such as modern sensors and GPS, which help farmers, increase their productivity.
“Demand for food has increased proportionately with the need for food over the years,” says Faisal Ghaus, Vice President of TechNavio.
“Hence, farmers are trying to increase efficiency and speed of production by adopting advanced agricultural machinery to meet the increased demand for food.”
Key Market Drivers
- Increase in Population
- Need for Enhanced Productivity
- Increased Government Support
Key Market Trends
- Shift toward High-power Equipment
- Increased Demand for Low-power Machinery
- Arrival of New Technologies
Key Market Vendors
- Mahindra and Mahindra
- Sonalika
- Tractors and Farm Equipment Ltd. (TAFE)
- VST Tillers Tractors Ltd. (VST)
To define the market circumstances in the next 3-4 years, TechNavio analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
https://www.technavio.com/%3Cp%3EIf%20you%20are%20interested%20in%20more%…
