Top 10 Tractor Companies [Manufacturers] in India

Here is the list of Top 10 Best Tractor Companies in India sorted out based on the Market share.

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The domestic tractor market has a mix of Indian origin and international OEMs and is segmented by horsepower. Industry is typically classified under the following segments < 20HP, 20-30HP, 31- 40HP, 41-50HP and >50HP. Over 80% of tractor sales are in the 31 to 50HP segment. In Financial Year 2019, the Indian tractor market (the world’s largest by volume), scaled a new peak with sales of 787,304 units.

List of Top Best Tractor companies in India

So this is the list of Top tractor companies in India that are ranked based on the Market share in India. The Company are listed in descending order.

7. New Holland India

New Holland Agriculture began its operations in India in 1998 with the launch of its first 70 HP tractor in the Indian market. Since then, it has tasted unequaled success with more than 300,000 tractors sold in numerous applications across India and abroad.

Spread across 60 acres of land, Company’s state-of-the-art manufacturing plant in Greater Noida is one of the most advanced tractor plants in the country with an annual production capacity of 60,000 tractors. The company produce one of the best tractors in India.

  • Market Share: 4 %
  • Capacity: 60,000 Tractors
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New Holland Agriculture currently offers a technologically superior range of 35 HP to 90 HP tractors in India. It is the first company in India to offer the most appropriate & advanced range of mechanization solutions to Indian farmers for enhancing crop productivity and profitability. It is 7th in the list top 10 tractor in India 2020.

6. John Deere India

Deere & Company, founded in 1837, is a Fortune500 Company. It is the world’s leading manufacturer of agricultural, construction and forestry equipment. India operations started in the year 1998, with the manufacturing of tractors for sales in India and exports.

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John Deere markets agricultural equipment and services through a network of 19 area offices, 6 regional offices and close to 900 dealers touchpoints. It is 6th in the list top 10 tractor in India 2020.

Market Share: 9 %

It has 4 training centers spread across India and it exports to more than 110 countries worldwide. Headquartered at Pune, today, John Deere has eight facilities for manufacturing and services in India.

The company has introduced various products and programs needed by the Indian farmers in various segments of the Ag value chain including, seeding, harvesting, and post-harvesting equipment.

5. Escorts Ltd

The pioneer of farm mechanization in India, Escorts Agri Machinery has in the last seven decades, committed itself to enhance India’s agricultural productivity and add value to the farmer’s life.

Escorts currently provides a technologically superior range of 22 HP to 80 HP tractors with under two-star brands – Farmtrac and Powertrac. It is 5th in the list top 10 tractor in India 2020.

  • Market Share: 11 %
  • Market Cap:  7,741 Cr.
  • ROE: 16.75 %
  • Sales Growth (3Yrs): 22.20 %
  • Promoter holding: 40.25 %
  • Debt to equity: 0.04
  • Price to book value: 2.73

With a growing network of over 800 customer touch-points, Escorts Agri Machinery ensures the satisfaction of its customer base of over 14,00,000 and also promises maximum uptime of their tractors and equipment. The company also produce the best tractor in India.

4. Sonalika International Tractors Ltd

Sonalika International Tractors Ltd. stands strong as 3rd largest tractor manufacturing company in the country with the bestselling tractors ranging from 20HP-120 HP. The company is well recognized in both the Domestic and International markets as a formidable player & has earned the trust of over 9 lakh patrons in more than 100 countries across the globe.

  • Market Share: 12 %
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The Company has established the World’s No.1 largest integrated tractor manufacturing plant which has a production capacity of 3 lakh tractor annually.

Since its inception in 1996, Sonalika ITL has come a long way to become the No.1 tractor brand in 4 countries (Nepal, Bangladesh, Algeria, Myanmar) & is the 3rd largest tractor manufacturer in India.

3. Swaraj Tractors

Swaraj Product portfolio includes tractors from 15 HP to a 60 HP category, which caters to the farmer’s need for various agricultural operations. It is one of the best tractor companies in India.

Swaraj models have special features suitable for agriculture and haulage application. It is third in the list of top tractor companies in India.

  • Market Share: 16 %

The Tractor Company organizes various customer engagement activities such as free service camps, Swast Tractor Swast Chalak, Doorstep service, and Swaraj Aabhar. Swaraj has been undertaking various CSR initiatives undertaken through Employee Social Option (ESOPs).

2. TAFE – Tractors and Farm Equipment Limited

TAFE – Tractors and Farm Equipment Limited, is an Indian tractor major incorporated in 1960 at Chennai, with an. The third-largest tractor manufacturer in the world and the second-largest in India by volumes. TAFE is also a significant shareholder in AGCO Corporation, USA – a US $9.4 billion tractor and agricultural equipment manufacturer.

  • Annual turnover: INR 93 billion (2014-15)
  • Market Share: 19 %
  • Sale: Over 150,000 tractors (domestic and international) annually.

TAFE’s partnership with AGCO Corporation and the Massey Ferguson brand for over 58 years. It is one of the largest Indian tractor company.

A strong distribution network of over 1000 dealers effectively backs TAFE’s four iconic tractor brands – Massey Ferguson, TAFE, Eicher, and the recently acquired Serbian tractor and agricultural equipment brand IMT – Industrija Mašina i Traktora.

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TAFE exports tractors, both in partnership with AGCO and independently, powering farms in over 100 countries which include developed countries in Europe and the Americas. It is the second-largest among top tractor companies in India.

Besides tractors, TAFE and its subsidiaries have diverse business interests in areas such as farm-machinery, Diesel engines and gensets, agro engines, engineering plastics, gears, and transmission components, batteries, hydraulic pumps and cylinders, vehicle franchises and plantations.

1. Mahindra & Mahindra Ltd

Mahindra & Mahindra Ltd.’s, Farm Equipment Sector (FES), a part of the US $ 19 billion Mahindra Group. It is the largest Indian tractor company in the World.

As the market leader in India for the past 30 years, FES has helped bring Farm Tech Prosperity to the Indian farmer with technologically superior affordable solutions.

Mahindra has achieved the distinction of being the largest tractor company in the world with tractor sales in more than 40 countries across six continents with more than 1000 dealers world-wide. It is the largest in top tractor companies in India.

  • Total Tractor Volume: 3,30,436(Includes Mahindra, Swaraj & Trakstar Brands)
  • Market Share: 26 %
  • Market Cap:  66,760 Cr.
  • ROE: 13.47 %
  • Sales Growth (3Yrs): 11.35 %
  • Promoter holding: 18.90 %
  • Debt to equity: 1.56
  • Price to book value: 1.62

In 2007, Farm Equipment Sector, Mahindra & Mahindra Ltd. took over Punjab Tractor Ltd. and added Swaraj to its brand stable. FES has 7 state-of-the-art tract