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High-horsepower tractors (above 100 HP)
What it is
The high-horsepower end of the tractor market, used for heavy tillage on large landholdings and increasingly for non-farm haulage, construction and infrastructure work rather than cultivation
It sits well above the volume core: the 40-100 HP band holds roughly 55% of the Indian market, while above-50 HP overall is a single-digit share and above-100 HP a small fraction of that
Impact on industries
- Highest realisation and margin per unit in the portfolio, and a natural hedge against the monsoon since non-farm haulage and construction demand does not follow the cropping cycle
- Serves the structural direction of travel - consolidation of landholdings, custom-hiring models and contract farming all favour higher horsepower over time
- Volumes are thin and lumpy, so the segment cannot offset weakness in the 41-50 HP core that carries the industry
- It is the band already carrying TREM IV compliance cost, and moves to Stage-V from Oct 2026 well ahead of the mass segment, widening the price gap to smaller tractors