Thailand Tractor Market - Industry Analysis & Forecast 2022-2028

Thailand Tractor Market - Industry Analysis & Forecast 2022-2028

In-depth Analysis and Data-driven Insights on the Impact of COVID-19 Included in this Thailand Tractor Market Report

Increased food consumption and rapid population growth are driving the agricultural and forestry tractor market in Thailand. This increasing demand for food will have to be met by a tremendous increase in production and per hector yield. Recent socio-demographic changes in Thailand are also driving demand in the Thailand tractors market. The number of people regularly working in agriculture is decreasing in Thailand. This increases the need for agricultural machinery in the country, thus positively impacting Thailand's Agricultural Tractor Market.

The Thailand tractors market is expected to grow at a CAGR of 3.71%.  

MARKET GROWTH ENABLERS

• Increased Food Consumption & Rapid Population Growth
• Increased Financial Support to Farmers Through Loans & Subsidies
• Socio-Demographic Changes in Thailand

SEGMENTATION ANALYSIS

The 20−40 HP segment generated the highest sales in almost all the regions of Thailand. Tractors with a power capacity range of less than 20 HP are referred to as mini tractors. These tractors are ideal for farmers with marginal land holdings and low haulage requirements.

2WD tractors are the most favored by farmers. The low relative cost of ownership, the sufficiency of features, and haulage power and convention make 2WD tractors more popular among farmers.

Segmentation by Horsepower 

• Less Than 20 HP 
• 20-40 HP 
• 41-60 HP 
• 61-100 HP 
• Above 100 HP 

Segmentation by Drive Type 

• 2-Wheel-Drive  
• 4-Wheel-Drive 

GEOGRAPHICAL ANALYSIS

The increasing penetration and adoption of farm mechanization practices across Thailand have driven the sale of new tractors. Tractors and agriculture implements are the major product categories of the organized agriculture market in Thailand.

VENDOR ANALYSIS

There are two major market segments in Thailand with completely different profiles. The market for less than 50 horsepower tractors was almost entirely owned by Kubota before 2004 and the company still has a market share of over 70%. Kubota’s presence in Thailand is through its subsidiary Siam Kubota, which is the local production plant for tractors.

Key Vendors

• Kubota
• John Deere
• CNH Industrial
• Escorts Limited
• Mahindra & Mahindra

Other Prominent Vendors

• New Holland
• Yanmar
• Sonalika International Tractors Limited
• Action Construction Equipments Ltd.
• AGCO
• Iseki Farm Implement Trading Co.
• CLAAS KGAA MBH
• Tractors and Farm Equipment Limited (TAFE)
• Eicher
• IMT
• Massey Ferguson Limited
• Talaythong Factory Co., Ltd.
• Deutz-Fahr

THE REPORT INCLUDES:

1. The analysis of the Thailand Tractor Market provides market size and growth rate for the forecast period 2022-2028.

2. It offers comprehensive insights into current industry trends, trend forecast, and growth drivers about the Thailand Tractor Market.

3. The report provides the latest analysis of market share, growth drivers, challenges, and investment opportunities.

4. It offers a complete overview of market segments and the regional outlook of the Thailand Tractor Market.

5. The report offers a detailed overview of the vendor landscape, competitive analysis, and critical market strategies to gain competitive advantage.