For farmers, tractors are their most important asset. Tractors have become an essential part of farming in the 21st century. Using a tractor is the most efficient way to work the fields. Tractors are an essential part of the lives of farmers across the world. Tractor manufacturers are always churning out high-quality tractors.
Top 5 Tractor Companies in India 2023
Indian tractor manufacturers are now a serious threat to the world’s leading tractor manufacturers. Listed here are the top 5 tractor companies in the world for the year 2023.
1. Mahindra Tractor
It was founded in 1945 by Mahindra & Mahindra Limited from Punjab, an Indian multinational enterprise. One of India’s biggest tractor manufacturers, Mahindra, and the world’s largest tractor maker, according to the research. Over 40 nations are represented by the company’s eight production facilities. It receives roughly $19 billion in revenue from Mahindra Tractors.
First, according to a 2019 study, a corporation manufactured more than 30 million tractors. The overall sales for August 2021 have been released by the firm. As reported by the firm, they sold 21360 units in August 2021, a decrease from the 3,098 units sold in August 2020 (domestic + exports) thus making it the Top 5 Tractor Companies in India 2023.
2. Sonalika International Tractor Limited (ITL Industries)
Founded in 1969 in Panjab by the Sonalika Group, Sonalika International Tractor Limited (SITL) is an Indian multinational tractor manufacturing firm. As a manufacturer of heavy-duty tractors, Sonalika Tractor is a market leader in India.
They have government-approved research and development facilities with 300+ engineers who test Sonalika tractors and develop new innovative machines for markets. Tractors ranging in power from 20 hp to 120 hp are made by this manufacturer.
There are around 130 nations where the firm exports tractors, making it India’s number one tractor exporter. Sonalika’s multifunctional cropping machines are well-known among farmers for their great efficiency. It is estimated that Sonalika sells more than 1.43 million tractors each year throughout the world and generates a revenue of over $7.7 billion.
There are also 65 training facilities in India where Sonalika tractors and other machines may be correctly used. They also provide cutting-edge and cost-effective agricultural methods nowadays.
3. Escorts Tractors
Escorts Limited was founded in Faridabad, Haryana, in 1944 by H. P. Nanda. Industrial, agricultural, and construction machinery is manufactured at the Escorts plant, which exports to more than 40 countries. There are many X-ray machines and agricultural machinery manufactured by the company at the beginning.
The Escorts Limited works with IndusInd Bank to provide their customers with the best financial services while also promoting India’s agricultural sector. According to Escorts Limited’s annual sales report, the firm sells between 70,000 and 80,000 tractors each year, domestically and abroad.
They claim that its R&D facilities and workforce are well-equipped to conduct tests in accordance with Bharat TREM, EPA, and European Union standards (Euro).
4. Tractors and Farm Equipment Limited (TAFE)
Amalgamations Group’s Tractors and Farm Equipment Limited was established in Chennai, India in the 1960s as an Indian multinational. As the third-largest producer of tractors in the world, TAFE is also India’s second-largest producer.
The company’s annual revenue is around 10,000 crores, and the company’s annual unit sales are approximately 1.8 million domestic and foreign. A Serbian tractor manufacturer, IMT brand, was recently purchased by the firm. Agricultural machinery, such as pumps, cylinders, and planters, are also manufactured by the business.
TPM Excellence Awards, Farmer Choice Award are just a few of the accolades TAFE has received for its exceptional work in the agricultural industry. So it is among the Top 5 Tractor Companies in India 2023.
More than 1,000 transactions have been struck throughout the world, and TAFE tractors are exported to more than 100 nations. TAFE Tractor’s Harvester mode is one of the most popular. Farmers claim that Harvester’s multi-functional equipment saves them a great deal of time and money.
5. New Holland Farming and Food Products (Under CNH Industrial)
New Holland has founded New Holland in 1895. Construction and agricultural machinery are manufactured by the firm, which exports to more than 175 countries.
Since its inception in 1999, CHN Industrial, a Dutch-Italian agricultural automobile manufacturer, has held ownership of the business. It has more than a dozen industrial facilities and is the largest R&D facility in the world.
Tractors and harvesting equipment are made by New Holland (Sugarcane Harvesters). According to Indian New Holland’s overall tractor sales report, the business sells between 30,000 and 40,000 tractors each year, amounting to a market share of around 4%, thus making it among the Top 5 Tractor Companies in India 2023.