Farmers are considered to be the backbone of the agricultural economy. Both the Indian and Chinese governments have been helping their farmers by providing subsidies toward farm machinery and equipment, which has helped farmers easily avail tractors and other farm machinery. Rising consumption of machinery and tractors drives the market for agricultural lubricants in these regions and will follow suit through 2024. The Indian government, in order to promote agricultural mechanization, launched the “Tractor Subsidy,” under which the government provides 25% subsidy for buying a tractor, power tiller, self-propelled reaper, paddy transplantation, and other similar self-propelled machines, specialized power-driven equipment, such as zero-till- seed drill, raised bed planter, sugarcane cutter planter, potato planter, potato digger, groundnut digger, straw reaper, strip-till drill, tractor-drawn reaper, cleaner-cum- grader, dryer, stubble shaver, mobile fruit harvester, and power weeder, etc. The ministry of agriculture, Government of India, has approved the list of tractor models up to 35 HP eligible for this subsidy program, and this scheme is open to all categories of farmers.

1. Introduction 

2. Research Methodology 

3. Executive Summary

4. Market Dynamics 

5. Market Segmentation and Analysis (Market Size, Growth, and Forecast) 

6. Competitive Landscape 

7. Market Opportunities and Future Trends

8. Disclaimer