Posted by Suraj On 16-May-2022 10:42 AM
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Domestic tractor sales statistics show 14.30% sales decrease in F.Y. 2022, even when the Indian economy is recovering. The last few years have impacted tractor sales in India at a scale due to the COVID-19 pandemic. This industry even survived to secure its existence and significance in India's economy.
In the financial year 2021, the tractor industry witnessed an 80% sales drop in its first two months. Later the sales of domestic tractors spiked, and Mahindra & Mahindra recorded nearly 18% sales growth.
However, if you want to get more information about tractor sales statistics in India, you should keep reading this article. Because we have gathered essential information from various sources and presented the sales volume of the domestic tractor in the last five years.
Domestic Tractor Market Share Chart for the Last Five Years
Below is a chart displaying the market shares of the domestic tractor in percentage. It will show you the last five years' statistics for India's tractor sales. We have also added sales volume of tractors till march 2022. So, you can gather enough insights and understand the leading tractor company in India.
Mahindra & Mahindra group is one of the leading and top manufacturers of domestic tractors. For more than five years, it had a 40% market share in the Indian tractor industry. Mahindra sold over 3.43 lakh units in 2021, which was 51 thousand units more than last year.
TAFE Group is another leading company that sells mid-range tractors in the Indian market. It also has a nearly 18% to 20% market share with a stable revenue base. The company achieved a growth rate of 37.90% during the financial year 2021. In 2022, it saw a 28% decline in its domestic tractor sales in India.
Sonalika has the third position in having the most market share for domestic tractor sales. This company said it got 41% growth during the financial year 2021 and even sufficient industry growth during the nationwide lockdown and post-pandemic time.
Escort Group is also a significant manufacturer and seller of tractors in India. It had about 11% market share in the tractor industry over many years. The company is noticing significant growth in its market share and sales volume. It sold over one lakh units during the financial year 2021; however, the first few months caused this company to lose, but later it recovered.
John Deere had less market share during the financial year 2021 compared to last year. In 2022, this company noticed over a 25% decrease in its tractor sales. It also lost over 1% market share this year but still has some more months to recover and achieve its place back.
New Holland is another prominent tractor manufacturer in the Indian tractor market. It had sold over 35 thousand units during the financial year 2021; however, it sold over 26 thousand units in its previous year. Hence, the market share of New Holland increased in the financial year 2021.
Kubota is a famous company that has grown its sales by 30% during 2021. It sold over 16 thousand units last year and generated more sales this year. It is one of few companies that saw significant growth in its market share in 2022.
The tractor sales in the last five years for VST Shakti are sufficient because it gained 21% more sales in 2021. And noticed 0.02% growth in its market share in 2022, but it also saw a 10% decline in tractor sales in India.
Indo farm and Captain are other good tractor companies but have less market share. Indo Farm has a 0.5% market share, whereas Captain also has a 0.5% market share. Indo Farm got 60% more sales in the financial year 2021, and Captain got 42% more sales this year.
ACE Tractors sold over 250 tractors in March 2022, more than last year's statistics. Also, its market share increased by 0.12%, and it had 23% more sales in 2021.
SDF is a tractor manufacturer in the Indian tractor industry, but it faced negative growth in 2021. The company only sold 2400 units, whereas it sold over 4000 units in 2020. This year also this company is facing the same issue and got only 135 sales till march month.
Force Tractor saw massive growth in its market share and sale in the last five years. In 2022, this company sold over 500 units and noticed a 2.5% growth in sales. However, it sold over 4000 units in 2021 and attained 21% growth.
Tractor Sales in India in 2022: Current Perspective
During the financial year 2022, most tractor manufacturing companies decreased their sales even when the economy was recovering. The tractor industry has noticed over 63 thousand unit sales this year. And compared to last year, it's pretty less because the tractor industry noticed more than 8 lakh unit sales in 2021.
Currently, Mahindra and Mahindra have a 39% market share in the tractor industry. And M&M Group saw a nearly 6% decrease in sales this year with 28112 unit sales. However, other companies like TAFE Group, Escorts Group, Sonalika, New Holland, and Kubota tractors also saw a decrease in tractor sales in India. Preet Tractors also sold 775 units and recorded over 8% loss on its sales. In short, this year, most tractor companies face challenges and notice a loss in sales.
But ACE Tractors witnessed an increase in its sales by 29% and sold over 250 tractors during March 2022. Captain tractor noticed significant growth this year and sold 436 units. Indo Farm Tractors also announced that they had earned over 27% growth this year by selling 752 tractors in March 2022.
So, in this article, we discussed India's tractor sales in the last five years. We discussed Mahindra, and Mahindra Group has the most share in the tractor industry and generates the most sales. TAFE Group, Sonalika, New Holland, Kubota, and Escorts Groups are other leading tractor manufacturers, and we discussed their last five years' sales.
We hope you have a brief idea of tractor sales in India and its last five years' statistics. However, if you keep willing to read news and statistics about tractors, you can stay tuned to our platforms. Here you keep getting the latest information about the tractor industry.
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