Dublin, March 22, 2022 (GLOBE NEWSWIRE) -- The "Thailand Tractor Market - Industry Analysis & Forecast 2022-2028" report has been added to ResearchAndMarkets.com's offering.
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 Equipment 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
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.
Key Topics Covered:
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
For more information about this report visit https://www.researchandmarkets.com/r/9un3ls
