Press Release

Government Subsidies to Influence the Weeders & Tillers Market in India

The India Weeders & Tillers Market is predicted to grow at a CAGR of 7.56% in the forecast period of 2023-28, says MarkNtel Advisors in their recent research report. This is attributed to the rising initiatives by the government of India in an effort to empower farmers & strengthen the agricultural sector of the country. The farming sector of the Indian economy is the largest in terms of employment & involves a wide range of farmers from big to small. However, Indian farmers lack behind other farmers across the world due to various reasons, such as small & fragmented holdings, rainfall dependency, and insufficient mechanization. Thus, government efforts, including its initiatives & subsidies are the prime aspect driving the industry.

In addition, the technological advancements & evolutions in the market to come up with more efficient & effective solutions are resulting in the introduction of new products such as electric weeders & tillers, which perform a range of functions varying from the preparation of soil to spraying of fertilizers, eliminating the use of labor & thus improving the overall cost of operations. These are the prominent factors projected to augment the demand for the equipment to be utilized in the hilly areas during the forecast period, reveals MarkNtel Advisors in their research report, “India Weeders & Tillers Market Analysis, 2023."

Electric Tillers to Dominate the Indian Weeders & Tillers Market

Based on Fuel Type the market is classified as Petrol, Diesel, and Electric. Of them, Electric tillers held a considerable share in the India Weeders & Tillers market in the historical years. The factors responsible for the market growth are the wide application of these tillers & weeders in gardening, agricultural farming, etc. In gardening, electric tillers help to break up hard, compact soil into loose, broken-up dirt that can then be used for planting. On the other hand, in agricultural land, these tillers pump water, harvesting, threshing & transport crops, sowing seeds, planting seeds, preparing the soil, adding & spraying the fertilizers, herbicides & water. Further, these tillers can also be used to cultivate the land & work effectively as they can reverse & cut soil simultaneously.

Additionally, they are economical to use in terms of maintenance & also require less space, further reducing the overall cost for farmers. Moreover, these tillers are the appropriate device to be used in small farmland & terrace farms which are the major type of farms in the hilly regions of the country. Thus, the demand for electric tillers is estimated to rise in the upcoming years, owing to the soaring inclination of Indian farmers towards mechanization.

Agriculture Sector to Drive the Market Growth

Based on application, the market is bifurcated into Agriculture, Horticulture/Gardening, and Forestry. Among them, the Agricultural Sector would generate significant demand for weeders & tillers, owing to the nature of the Indian economy as the country is mostly dependent on the agricultural sector. Also, the Indian government has been continuously engaged in raising the welfare of Indian farmers. This involves the launch of various schemes & the announcement of several subsidies for improving the mechanization of farms in the country. Moreover, the rising population & mounting burden on the country's agricultural sector have resulted in a shift in demand from tractors to small mechanization tools, which would further support market growth in the upcoming years.

Competitive Landscape

With strategic initiatives, such as mergers, collaborations, and acquisitions, the leading market players, including VST Tillers & Tractors Ltd., Kisankraft Limited, Shrachi Agrimech, Andreas Stihl Pvt. Ltd., Kerala Agro Machinery Corporation Ltd. (KAMCO), Kirloskar Oil Engines Ltd., Honda India Power Products Ltd., Greaves Cotton Ltd., Kubota Agricultural Machinery India Pvt. Ltd., E-agro Care Machineries & Equipments Pvt. Ltd., and Btl Epc Ltd., are looking forward to strengthening their market position.

Key Questions Answered in the Research Report

1. What are the industry’s overall statistics or estimates (Overview, Size- By Value, Forecast Numbers, Segmentation, Shares)?
2. What are the trends influencing the current scenario of the market?
3. What key factors would propel and impede the industry across the country?
4. How has the industry been evolving in terms of geography & product adoption?
5. How has the competition been shaping across the country?
6. How has the buying behavior, customer inclination, and expectations from product manufacturers been evolving during 2018-28?
7. Who are the key competitors, and what strategic partnerships or ventures are they coming up with to stay afloat during the projected time frame?