Agricultural Machinery in India: the market will triple in the next ten years

03.03.2024
The final day of EIMA Agrimach is underway in Bangalore. In the context of the review, the Italian foreign trade agency ICE presents a forecast study on the Indian market, destined to exceed 31 billion dollars in 2033.

The entrances to the exhibition area at the Campus of the University of Agricultural Sciences of Bangalore opened this morning, to give life to the fourth and final day of EIMA Agrimach India, the international exhibition of agricultural mechanics organised by FICCI and FederUnacoma, which closes today its eighth edition. Numerous visitors and economic operators for an event that presents the range of technologies necessary for the development of Indian agriculture, a production reality destined to grow significantly in the coming years. Closely connected with the agricultural trend is the market for machines, equipment and electronic technologies specific to the primary sector, as described in the Report on India produced by the Italian Foreign Trade Agency ICE, and released yesterday in coinciding with the EIMA Agrimach exhibition. The agricultural machinery market - we read in the very substantial and detailed document - reached an overall value of 13.7 billion dollars in 2023, but is destined to grow dramatically in the next ten years, reaching the share in 2033 of 31.6 billion dollars. The increase in sales will be the result of a greater variety of vehicles requested by agricultural enterprises. The study carried out by ICE in fact highlights how the current panorama is dominated by agricultural tractors, which alone cover 86% of the market, followed by commercial tractors (8%) and trailers (5%). Other types of machines, such as trolleys and harvesters, have a share of 1%. In the next ten years the range of technologies is destined to expand considerably, since the agricultural system of the Subcontinent requires modern machinery for all production segments. Newly developed equipment is required for ploughing and sowing, and along with this, spraying and irrigation systems are also set to increase. Combine harvesters and harvesting vehicles will be fundamental to the efficiency of the agricultural production system, and forage harvesting machines will have growing importance. The new agricultural vehicles will be equipped with digital systems - this is underlined in the ICE report - which will guide the development of an increasingly specialised advanced electronics market.


The latest FederUnacoma press releases

11.04.2024

Agricultural machinery, market down in the first three months of the year

The first quarter of the year marks a substantial decline in sales for all types of agricultural machinery. Tractors and combine harvesters fell by 25% and 56.7% respectively, tractors with loading platform by 18.4%. Negative sign also for trailers (- 6.1%) and telehandlers (- 37.2%). FederUnacoma: the contraction in demand due to economic and geopolitical factors, a multiannual public incentive plan is needed to complete the digitisation of our agriculture.
05.04.2024

Agricultural machinery: appointment at EIMA International

Presented as part of Agriumbria the 46th edition of the exhibition of agricultural mechanics, scheduled for next November at the Bologna fair. Rich in technical content and with more than 1,600 already confirmed exhibiting industries, EIMA 2024 will be an important factor in relaunching the national market. In the first three months of the year sales of tractors fell by 25% nationally, while the market in Umbria showed a greater resilience, with a much smaller decline (-4.4%).
03.04.2024

FederUnacoma: a strategic plan for agromechanics

The annual Think Tank of the Federation of Agricultural Machinery Manufacturers was held in Serralunga d'Alba, in the heart of the Langhe area in Piedmont. Market data, scenario analyses and a focus on training needs were at the centre of the proceedings, during which the strategic role of EIMA International in relaunching the sector's market was highlighted. The AFI Higher Education Academy, a new FederUnacoma project to strengthen skills within companies, was presented.
26.03.2024

Agricultural mechanisation in India, the strategic role of EIMA Agrimach

The robust growth of the agricultural machinery market has not yet filled the technological deficit of Indian agriculture. Forecasts indicate that the incremental trend, favoured by state subsidy programs, will continue in the coming years with investments in the latest generation of machinery. Agromechanical exhibitions are a knowledge hub.

Italian Agricultural Machinery Manufacturers Federation
Digital System and technologies for Agricultural Machinery and Farming
Irrigation Systems
Italian Implements Manufacturers Association
Italian Self-Propelled Machinery Manufacturers Association
Italian Tractors Manufacturers Association
Italian Components Manufacturers Association
Italian Garden Machinery Manufacturers Association