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Thailand Tractor Market - Industry Analysis & Forecast 2022-2028

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  • 147 Pages
  • March 2022
  • Region: Thailand
  • Arizton
  • ID: 5557792
UP TO OFF until Dec 31st 2022
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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%.  


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


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 


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.


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.
  • Tractors and Farm Equipment Limited (TAFE)
  • Eicher
  • IMT
  • Massey Ferguson Limited
  • Talaythong Factory Co., Ltd.
  • Deutz-Fahr


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

1 Research Methodology2 Research Objectives3 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

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.
  • Tractors and Farm Equipment Limited (TAFE)
  • Eicher
  • IMT
  • Massey Ferguson Limited
  • Talaythong Factory Co., Ltd.
  • Deutz-Fahr


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.