THE THAILAND TRACTOR MARKET SIZE WAS VALUED AT 53,316 UNITS AND IS EXPECTED TO GROW AT A CAGR OF 3.71% TO REACH 68,781 UNITS BY 2028,

The Thailand Tractor Market Research Report Includes Size, Share, Trends Analysis, Competitive Landscape, and Growth Potential by

  • Horsepower: Less Than 20 HP, 20-40 HP, 41-60 HP, 61-100 HP, and Above 100 HP  
  • Drive Type: 2-Wheel-Drive and 4-Wheel-Drive  

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147 Pages

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27 Tables

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43 Charts

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1 Regions

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1 Countries

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18 Companies

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2 Market Segment

THAILAND TRACTORS MARKET REPORT SCOPE 

Report Attribute Details
Market Size (Volume) 68,781 units (2028) 
Market Size (Volume) 53,316 UNITS (2021)
CAGR 3.71% (2022-2028) 
LARGEST SEGMENT BY HORSEPOWER  20-40 HP segment 
LARGEST SEGMENT BY DRIVE TYPE   2 Wheel Drive
KEY VENDORS  Kubota, John Deere, CNH Industrial, Escorts Limited, and Mahindra & Mahindra
Historic Year 2019-2020
Base Year 2021
Forecast Year 2022-2028

MARKET ANALYSIS  

The Thailand agriculture tractor market witnessed shipments of 53,316 units in 2021 and the shipments are expected to reach 68,781 units by 2028, growing at a CAGR of 3.71%.

The increasing adoption of precision farming is set to become the most valuable driver for tractor sales in present times. The need for increased food production and improved agriculture machinery has led to the innovation in tractors and implements. The correlated demand from food production companies and other related sectors provides employment opportunities, increasing income levels. With the share of agricultural exports growing relatively slowly, the Thai government is working on measures to double the quantity and revenues from the export of agricultural products by 2030. This will positively impact the industry demand.   

KEY DEVELOPMENTS IN THE MARKET  

  • Government strategies to enhance the welfare of farmers by converting agriculture into a viable activity are paving the way for new tractor purchases, thus positively impacting the Thailand agricultural machinery market. 
  • 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 increasing penetration and adoption of farm mechanization practices across Thailand’s sub-continent have driven the sale of new tractors. Tractors and agriculture implements are the major product categories of Thailand's organized agriculture tractor market.  

MARKET TRENDS & GROWTH ENABLERS  

GPS Technology in Tractors Gaining Prominence 

GPS technology on tractors and other equipment helps farmers with field mapping, soil sampling, and crop scouting. It also allows them to work during low visibility field conditions such as rain, dust, and fog and maximize efficiency. GPS and remote sensing have made farming more accurate and productive. Currently, tractors are state-of-the-art technology developed by farm equipment manufacturers to collect and use for analysis and real applications.  

Growing demand for Low Engine Power Tractors   

The utilization of animal and human power in Thailand's agriculture sector has decreased significantly. Many of these are powered by fossil fuel-powered vehicles like tractors and diesel engines. As a result, the old agricultural process has given way to a more mechanical one. As a result, the market is likely to be driven by the adoption of programs by governments in the region.  Lower engine power tractors take up less space and are more versatile because their engines have a capacity of less than 1,500cc. 

MARKET SHARE & SEGMENTS  

 Thailand Tractor Market Share Analysis 2028

 

Thailand Agriculture Tractor Market, Segmentation by Horsepower, 2021 and 2028 

 

20 HP to 40 HP Segment generated Highest Sales 

The 20-40 HP tractors are popular among small farmers in the country, and the Southern part of the country has high numbers of small land, gardens, and good rainfall. This supports the growth of fruits, rubber, and palm oil. The expected surge in demand for fruits and palm oil will demand 20-40 HP tractors in Thailand. 

Small Farm Size Driving 2WD Segment  

Thailand has many small farmers with an average farm size of 3.6 ha/farm. For this reason, the farmers prefer to own small and cost-efficient machines. In Thailand, power puddles are attached with two-wheeled tractors for rice plantation. The central plus point of 2WD tractors is the ease of driving and maneuverability during light loads and plain fields.  This will drive the demand for 2WD tractors in the Thailand Tractors market.

COMPETITIVE LANDSCAPE  

  • The key players in the Thailand tractors market are Kubota, John Deere, CNH Industrial, Escorts Limited, and Mahindra & Mahindra.  
  • The industry under 50 HP belonged almost entirely to Kubota before 2004, and it is still commanding a very high market share of over 70%. 
  • In 2018, one of the key players, CNH Industrial, with its agriculture brands Case IH and New Holland, introduced the concept of autonomous technology in agriculture tractors. The company has already incorporated auto-steering and telematics in their tractors and autonomous concept in tractors, which will remove the operator from the cab. 
  • From a demand perspective, vendors dependent purely on a single product category or focused on one or two end-users are expected to face more challenges. The need of the hour is to diversify those risks.  

The Thailand tractors market research report includes in-depth coverage of the industry analysis with revenue and forecast insights for the following segments:  

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  

Frequently Asked Questions

What are the estimated unit shipments for the agricultural tractors market in Thailand in 2028?

The estimated unit shipments for the agricultural tractors market in Thailand in 2028 are 68,781 units.

Who are the key players in the Thailand tractors market? 

The key players in Thailand agricultural tractor industry are Kubota, John Deere, CNH Industrial, Escorts Limited, and Mahindra & Mahindra

What are the drivers of the growth of the tractor market in Thailand?

Increased food consumption, increased loans and subsidies by the government, and socio-demographic changes in Thailand are driving the tractor industry in Thailand

What government reforms are going to impact the Thailand tractors market positively?

The Thai government is to provide roughly USD 5 billion in cash to millions of farmers affected by Covid-19, floods, droughts, and low crop prices. Increased financial support to a farmer through loans and subsidies will increase the demand for tractors and other agricultural equipment in the forecast period.

Why does the 2WD segment have more market share in the Thailand tractors market?

A. The 2WD segment has more market share in the Thailand tractors market because of the high number of small farmers with an average farm size of 3.6 ha/farm. Thus, the farmers prefer to own small and cost-efficient machines.

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The Thailand tractors market witnessed shipments of 53,316 units in 2021 and are expected to reach 68,781 units by 2028, growing at a CAGR of 3.71%.  

The following factors are likely to contribute to the growth of the Thailand agricultural tractor market- 

  • Increased Food Consumption and Rapid Population Growth 
  • Increased Financial Support to Farmers Through Loans and Subsidies 
  • Socio-Demographic Changes in Thailand 
  • Expanding Farmland Size 
  • Increasing Focus Toward Remote Monitoring Technology in Tractors 

Base Year: 2021 

Forecast Year: 2022-2028  

The study considers a detailed scenario of the present Thailand tractor market and its market dynamics for 2022−2028. It covers a detailed overview of several market growth enablers, restraints, and trends. The report offers both the demand and supply aspects of the market. It profiles and examines leading companies and other prominent ones operating in the market. 

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 

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  

 

1 Research Methodology
2 Research Objectives
3 Research Process

4 Scope & Coverage
4.1 Market Definition
4.1.1 Inclusions
4.1.2 Exclusions
4.1.3 Market Estimation Caveats
4.2 Base Year
4.3 Scope of The Study

5 Report Assumptions & Caveats
5.1 Key Caveats
5.2 Currency Conversion
5.3 Market Derivation

6 Market at a Glance
7 Introduction
7.1 Overview
7.2 Import & Export Analysis
7.3 Agriculture Evolution in Thailand
7.4 Population & End-User Growth
7.5 Technological Advancements
7.6 Impact of Covid-19

8 Market Landscape
8.1 Market Overview
8.2 Market Size & Forecast
8.3 Five Forces Analysis
8.3.1 Threat of New Entrants
8.3.2 Bargaining Power of Suppliers
8.3.3 Bargaining Power of Buyers
8.3.4 Threat of Substitutes
8.3.5 Competitive Rivalry

9 Horsepower
9.1 Market Snapshot & Growth Engine
9.2 Market Overview
9.3 Less Than 20HP
9.3.1 Market Overview
9.3.2 Market Size & Forecast
9.4 20−40 HP
9.4.1 Market Overview
9.4.2 Market Size & Forecast
9.5 41−60 HP
9.5.1 Market Overview
9.5.2 Market Size & Forecast
9.6 61−100 HP
9.6.1 Market Overview
9.6.2 Market Size & Forecast
9.7 Above 100 HP
9.7.1 Market Overview
9.7.2 Market Size & Forecast

10 Drive Type
10.1 Market Snapshot & Growth Engine
10.2 Market Overview
10.2.1 Market Size & Forecast
10.3 2wd Tractors
10.3.1 Market Overview
10.3.2 Market Size & Forecast
10.4 4wd Tractors
10.4.1 Market Overview
10.4.2 Market Size & Forecast

11 Market Opportunities & Trends
11.1 Rising Focus on Remote Monitoring Technology in Tractors
11.1.1 Self-Driving Tractors
11.1.2 GPS Technology
11.1.3 Growing Demand for Autonomous Tractors
11.1.4 Alternative Fuel-Based Tractors
11.2 Growing Farm Mechanization Driving Demand for Low Engine Power Tractors
11.2.1 Policies for Agricultural Mechanization
11.3 Increasing Adoption of Precision Farming

12 Market Growth Enablers
12.1 Increased Food Consumption & Rapid Population Growth
12.2 Increased Financial Support to Farmers Through Loans & Subsidies
12.2.1 Thailand to Offer $4.7 Billion To Farmers Affected by Covid and Floods
12.2.2 National Strategy for Next 20 Years
12.3 Socio-Demographic Changes in Thailand
12.4 Expanding Farmland Size

13 Market Restraints
13.1 Increasing Demand for Used & Rental Tractors
13.2 Climate Change Adversely Impacting Agricultural Activities
13.3 Farmers Unaware of Latest Agricultural Technology
13.3.1 Low Level of Education Among Farmers
13.3.2 Resource Scarcity Among Small & Medium Farmers

14 Competitive Landscape
14.1 Competition Overview

15 Key Company Profiles
15.1 KUBOTA
15.1.1 Business Overview
15.1.2 Kubota in Agriculture Tractor Market
15.1.3 Product Offerings
15.1.4 Key Strategies
15.1.5 Key Strengths
15.1.6 Key Opportunities
15.2 JOHN DEERE
15.2.1 Business Overview
15.2.2 John Deere in Agriculture Tractor Market
15.2.3 Product Offerings
15.2.4 Key Strategies
15.2.5 Key Strengths
15.2.6 Key Opportunities
15.3 CNH
15.3.1 Business Overview
15.3.2 CNH In Agriculture Tractor Market
15.3.3 Product Offerings
15.3.4 Key Strategies
15.3.5 Key Strengths
15.3.6 Key Opportunities
15.4 ESCORTS LIMITED
15.4.1 Business Overview
15.4.2 Escorts in Agriculture Tractor Market
15.4.3 Product Offerings
15.4.4 Key Strategies
15.4.5 Key Strengths
15.4.6 Key Opportunities
15.5 MAHINDRA & MAHINDRA
15.5.1 Business Overview
15.5.2 Mahindra in Agriculture Tractor Market
15.5.3 Product Offerings
15.5.4 Key Strategies
15.5.5 Key Strengths
15.5.6 Key Opportunities

16 Other Prominent Vendors
16.1 NEW HOLLAND
16.1.1 Business Overview
16.1.2 Product Offerings
16.2 YANMAR
16.2.1 Business Overview
16.2.2 Product Offerings
16.3 SONALIKA
16.3.1 Business Overview
16.3.2 Product Offerings
16.4 ACE
16.4.1 Business Overview
16.4.2 Product Offerings
16.5 AGCO
16.5.1 Business Overview
16.5.2 Product Offerings
16.6 ISEKI
16.6.1 Business Overview
16.6.2 Product Offerings
16.7 CLAAS KGAA MBH
16.7.1 Business Overview
16.7.2 Product Offerings
16.8 TAFE
16.8.1 Business Overview
16.8.2 Product Offerings
16.9 EICHER
16.9.1 Business Overview
16.9.2 Product Offerings
16.10 IMT
16.10.1 Business Overview
16.10.2 Product Offerings
16.11 MASSEY FERGUSON LTD.
16.11.1 Business Overview
16.11.2 Product Offerings
16.12 TALAYTHONG FACTORY CO., LTD.
16.12.1 Business Overview
16.12.2 Product Offerings
16.13 DEUTZ-FAHR
16.13.1 Business Overview
16.13.2 Product Offerings

17 Report Summary
17.1 Key Takeaways
17.2 Strategic Recommendations

18 Quantitative Summary
18.1 Market by Horsepower
18.2 Market by Wheel Drive Type

19 Appendix
19.1 Abbreviations

LIST OF EXHIBITS


Exhibit 1 Segmentation of Thailand Agriculture Tractor Market
Exhibit 2 Market Size Calculation Approach 2021
Exhibit 3 Thailand Economic Overview
Exhibit 4 Four Ages of Thailand Evolution
Exhibit 5 Factors Driving Demand for Agricultural Tractors
Exhibit 6 Agriculture Land Use in Thailand 2019
Exhibit 7 Thailand Import Export of Tractors 2019
Exhibit 8 Agriculture Evolution in Thailand 1986−2016
Exhibit 9 Tractor Usage by Ratio 2020
Exhibit 10 Technological Development in Tractors
Exhibit 11 COVID-19 Impact on Thailand Tractor Market
Exhibit 12 Sales of Agriculture Tractor by Horsepower 2021
Exhibit 13 Thailand Agriculture Tractor Market by Volume 2019–2028 (Units)
Exhibit 14 Five Forces Analysis 2021
Exhibit 15 Incremental Growth by Horsepower 2021 & 2028
Exhibit 16 Thailand Agriculture Tractor Market Segmentation by Horsepower, 2019−2028 (Units)
Exhibit 17 Thailand Agriculture Tractor Market, Segmentation by Horsepower, 2021 and 2028 (% Share)
Exhibit 18 Thailand Less Than 20 Hp Agriculture Tractor Market 2019–2028 (Units)
Exhibit 19 Thailand 20−40 HP Agriculture Tractor Market 2019–2028 (Units)
Exhibit 20 Thailand 41−60 HP Agriculture Tractor Market 2019–2028 (Units)
Exhibit 21 Thailand 61−100 HP Agriculture Tractor Market 2019–2028 (Units)
Exhibit 22 Thailand Above 100 HP Agriculture Tractor Market 2019–2028 (Units)
Exhibit 23 Incremental Growth by Drive Type 2021 & 2028
Exhibit 24 Thailand Agriculture Tractor Market, Segmentation by Wheel Drive Type, 2021 (% Share)
Exhibit 25 Thailand Wheel Drive Agriculture Tractor Market 2019–2028 (Units)
Exhibit 26 Thailand 2WD Agriculture Tractor Market 2019–2028 (Units)
Exhibit 27 Thailand 4WD Agriculture Tractor Market 2019–2028 (Units)
Exhibit 28 Impact of Rising Focus on Remote Monitoring Technology in Tractors
Exhibit 29 Impact of Growing Farm Mechanization Driving Demand for Lower Engine Power Tractors
Exhibit 30 Impact of Increasing Adoption of Precision Farming
Exhibit 31 Impact of Increased Food Consumption & Rapid Population Growth
Exhibit 32 Impact of Increased Financial Support to Farmers Through Loans & Subsidies
Exhibit 33 Impact of Socio-Demographic Changes in Thailand
Exhibit 34 Thailand Farmer & Agriculture Workforce Age Distribution 2019
Exhibit 35 Impact of Expanding Farmland Size
Exhibit 36 Land Use in Thailand 2019
Exhibit 37 Impact of Increasing Demand for Used & Rental Tractors
Exhibit 38 Impact of Climate Change Adversely Impacting Agricultural Activities
Exhibit 39 Impact of Farmers Unaware of Latest Agricultural Technology
Exhibit 40 Product Range of Tractors by Top Five Vendors 2019
Exhibit 41 Total Share by Segments 2020 (%)

LIST OF TABLES

Table 1 Key Caveats
Table 2 Currency Conversion 2015−2021
Table 3 Thailand Agricultural Industry Output Overview 2018−2021 ($ million)
Table 4 Number and Area of Holdings 2019
Table 5  Thailand: Distribution Network of Tractors in 2019
Table 6  Agriculture Tractors Available in Thailand 2019
Table 7  Top Five Major Thailand Agriculture Tractor Vendors Ranking
Table 8 Kubota: Major Product Offerings
Table 9 John Deere: Major Product Offerings
Table 10 CNH: Major Product Offerings
Table 11 Escort: Major Product Offerings
Table 12 Mahindra & Mahindra: Major Product Offerings
Table 13 New Holland: Major Product Offerings
Table 14 Yanmar: Major Product Offerings
Table 15 Sonalika: Major Product Offerings
Table 16 ACE: Major Product Offerings
Table 17 AGCO: Major Product Offerings
Table 18 ISEKI: Major Product Offerings
Table 19 Claas KGaA mbH: Major Product Offerings
Table 20 TAFE: Major Product Offerings
Table 21 Eicher: Major Product Offerings
Table 22 IMT: Major Product Offerings
Table 23 Massey Ferguson Ltd.: Major Product Offerings
Table 24 Talaythong Factory Co. Ltd.: Major Product Offerings
Table 25 Deutz-Fahr: Major Product Offerings
Table 26 Thailand Agriculture Tractor Market by Horsepower 2021–2028 (Units)
Table 27 Thailand Agriculture Tractor Market by Wheel Drive Type 2021–2028 (Units)

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