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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.
Table of Contents
Companies Mentioned
- Kubota
- John Deere
- CNH Industrial
- Escorts Limited
- Mahindra & Mahindra
- 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
Methodology
Our research comprises a mix of primary and secondary research. The secondary research sources that are typically referred to include, but are not limited to, company websites, annual reports, financial reports, company pipeline charts, broker reports, investor presentations and SEC filings, journals and conferences, internal proprietary databases, news articles, press releases, and webcasts specific to the companies operating in any given market.
Primary research involves email interactions with the industry participants across major geographies. The participants who typically take part in such a process include, but are not limited to, CEOs, VPs, business development managers, market intelligence managers, and national sales managers. We primarily rely on internal research work and internal databases that we have populated over the years. We cross-verify our secondary research findings with the primary respondents participating in the study.
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