India: Market for Agricultural And Forestry Tractors 2025

Market Size for Agricultural And Forestry Tractors in India

In 2021, the Indian agricultural and forestry tractor market decreased by -48.6% to $X, falling for the second consecutive year after four years of growth. Overall, consumption continues to indicate a relatively flat trend pattern. Over the period under review, the market hit record highs at $X in 2019; however, from 2020 to 2021, consumption stood at a somewhat lower figure.

Production of Agricultural And Forestry Tractors in India

In value terms, agricultural and forestry tractor production rose to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +4.2% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2018 when the production volume increased by 23% against the previous year. As a result, production attained the peak level of $X. From 2019 to 2021, production growth remained at a lower figure.

Exports of Agricultural And Forestry Tractors

Exports from India

After two years of decline, overseas shipments of agricultural and forestry tractors increased by 149% to X units in 2021. In general, exports showed prominent growth. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, agricultural and forestry tractor exports skyrocketed to $X in 2021. Over the period under review, total exports indicated a notable expansion from 2012 to 2021: its value increased at an average annual rate of +4.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

The United States (X units), Nepal (X units) and Sri Lanka (X units) were the main destinations of agricultural and forestry tractor exports from India, together accounting for 42% of total exports. These countries were followed by Thailand, Bangladesh, Brazil, France, South Africa, Mexico, the Netherlands, Kenya, Australia and Sudan, which together accounted for a further 35%.

From 2012 to 2021, the biggest increases were recorded for France (with a CAGR of +144.0%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) remains the key foreign market for agricultural and forestry tractors exports from India, comprising 27% of total exports. The second position in the ranking was held by Bangladesh ($X), with a 6.9% share of total exports. It was followed by Nepal, with a 6.7% share.

From 2012 to 2021, the average annual growth rate of value to the United States amounted to +4.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Bangladesh (+11.5% per year) and Nepal (+14.2% per year).

Export Prices by Country

In 2021, the average agricultural and forestry tractor export price amounted to $X per unit, shrinking by -28.2% against the previous year. In general, the export price showed a noticeable setback. The most prominent rate of growth was recorded in 2013 when the average export price increased by 20%. The export price peaked at $X per unit in 2014; however, from 2015 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the Netherlands ($X per unit), while the average price for exports to Nepal ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the United States (+0.9%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Agricultural And Forestry Tractors

Imports into India

In 2021, the amount of agricultural and forestry tractors imported into India stood at X units, growing by 3.4% against 2020 figures. Over the period under review, imports recorded prominent growth. The pace of growth appeared the most rapid in 2018 with an increase of 64% against the previous year. Over the period under review, imports reached the peak figure at X units in 2019; however, from 2020 to 2021, imports failed to regain momentum.

In value terms, agricultural and forestry tractor imports expanded notably to $X in 2021. Overall, imports saw a strong increase. The most prominent rate of growth was recorded in 2018 with an increase of 55% against the previous year. Over the period under review, imports hit record highs at $X in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Thailand (X units) was the main supplier of agricultural and forestry tractor to India, accounting for a 96% share of total imports. Moreover, agricultural and forestry tractor imports from Thailand exceeded the figures recorded by the second-largest supplier, Japan (X units), more than tenfold.

From 2012 to 2021, the average annual rate of growth in terms of volume from Thailand amounted to +68.2%.

In value terms, Thailand ($X) constituted the largest supplier of agricultural and forestry tractors to India, comprising 94% of total imports. The second position in the ranking was taken by Japan ($X), with a 5.3% share of total imports.

From 2012 to 2021, the average annual growth rate of value from Thailand amounted to +67.8%.

Import Prices by Country

The average agricultural and forestry tractor import price stood at $X per unit in 2021, rising by 1.6% against the previous year. Over the period under review, the import price, however, showed a mild decrease. The growth pace was the most rapid in 2019 when the average import price increased by 6.6%. The import price peaked at $X per unit in 2013; however, from 2014 to 2021, import prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Japan ($X per unit), while the price for Thailand amounted to $X per unit.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Japan (+2.7%).

Source: IndexBox Platform

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