Thailand Tractor Market Analysis & Forecasts 2022-2028 - Rising Focus on Remote Monitoring Technology in Tractors

DUBLIN, May 12, 2022 /PRNewswire/ -- The "Thailand Tractor Market - Industry Analysis & Forecast 2022-2028" report has been added to ResearchAndMarkets.com's offering.

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

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 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.

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.

MARKET GROWTH ENABLERS

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

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

Key Topics Covered:

1 Research Methodology

2 Research Objectives

3 Research Process

4 Scope & Coverage
4.1 Market Definition
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

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
9.5 41-60 Hp
9.6 61-100 Hp
9.7 Above 100 Hp

10 Drive Type
10.1 Market Snapshot & Growth Engine
10.2 Market Overview
10.2.1 Market Size & Forecast
10.3 2Wd Tractors
10.4 4Wd Tractors

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 Business Overview
15.2 Role in Agriculture Tractor Market
15.3 Product Offerings
15.4 Key Strategies
15.5 Key Strengths
15.6 Key Opportunities

For more information about this report visit https://www.researchandmarkets.com/r/fhbryr

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