Thailand Tractor Market Sales to Reach 69.92 Thousand Units by 2030 - Exclusive Research Report by Arizton

According to Arizton’s latest research report, Thailand tractor market is growing at a CAGR of 3.05% during 2024-2030.

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Report Summary 

Market Size (2030): 69.92 Thousand Units

Market Size (2024): 58.39 Thousand Units

CAGR (2024-2030): 3.05%           

Historic Year: 2021-2023

Base Year: 2024

Forecast Year: 2025-2030

Market Segmentation: Horsepower, Drive Type, and Geography

Geographic Analysis: Thailand (Northeastern, Bangkok, Northern, Central, Eastern, Southern, and Western)

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Market Overview

Thailand is a leading agricultural economy in Southeast Asia, where tractors are crucial for modernizing and enhancing farming efficiency. The tractor market in Thailand is experiencing steady growth, driven by increased mechanization, a shrinking rural workforce, government support, and a growing demand for higher agricultural productivity. While smart farming technologies are emerging, tractors equipped with GPS, precision farming, and IoT features are becoming increasingly popular, particularly among large-scale farmers.

The sustained demand for agricultural and food products is a key driver of Thailand’s economic growth. As global consumption rises due to population growth and changing dietary habits, agricultural exports are expected to remain strong. This ongoing demand creates opportunities for expansion, innovation, and value-added production in the agriculture sector, solidifying its importance in both local economies and global supply chains.

Driving Sustainability: Thailand’s Shift to Electric and Alternative Fuel Tractors

The Thailand tractor market is undergoing a major transformation, with a growing shift towards electric and alternative fuel tractors. As sustainability goals, rising fuel costs, and government policies encouraging clean energy take hold, Thai farmers and agribusinesses are increasingly adopting eco-friendly tractor options.

In March 2024, Siam Kubota, a leading manufacturer of agricultural equipment in Thailand, announced a significant investment of 1.4 billion baht ($39 million) to expand and modernize its production capabilities. This move aims to boost productivity while promoting sustainable farming solutions. The company has already developed electric tractors, which are being tested on pilot farms, and is exploring alternative energy sources like nitrogen to address challenges such as battery life and charging infrastructure. By focusing on electric tractors and other eco-friendly technologies, Siam Kubota is positioning itself as a leader in sustainable farming practices in Southeast Asia.

Key Development:

· In 2024, Mahindra & Mahindra is entering the ASEAN market, starting with Thailand, by launching its OJA lightweight tractors tailored to the region’s agricultural needs. The company aims to establish a strong presence, expand gradually, and achieve a high single-digit market share within five years.

· In 2023, Kubota offers farmers tax deductions up to 40,000 baht ($1,135.6) through the "Shop Good, Get Cash Back" project. Eligible products include diesel engines, tractors, spare parts, oil, and services. By making purchases more affordable, Kubota can attract new customers, especially smaller farmers or first-time buyers who might otherwise delay or avoid buying a tractor.

· John Deere’s commitment to ethical practices boosts its global reputation, earning greater trust from customers, partners, and investors. This strong ethical foundation helps drive market share growth and long-term success.

Northern Thailand Tractor Market: Strong Growth and Regional Highlights

The Northeastern region stands out as the most prominent region in the Thailand tractor market. Known for its vast agricultural lands and rural economy, this region has a strong and consistent demand for tractors to support crop production, especially rice and cassava farming. The steady expansion of mechanized farming practices has further strengthened the industry, making it the most active area in Thailand for tractor usage. Furthermore, despite being highly urbanized, Bangkok exhibits a surprisingly significant share of the Thailand tractor market. Here, the demand is more specialized, driven by landscaping, infrastructure projects, and urban agriculture initiatives. Additionally, the presence of large commercial hubs and easier financing options contribute to an active and growing industry for high-efficiency, compact, and technologically advanced tractors.

The Northern region, with its mountainous terrain and diverse agricultural output — including fruits, coffee, and rice — maintains a healthy demand for tractors. Mechanization is crucial here to manage varied crop types across different landforms. The increasing adoption of modern farming techniques has played a key role in keeping the tractor market dynamic in this region. Furthermore, the Central and Eastern regions in the Thailand tractor market are more industrialized but still maintain pockets of strong agricultural activity. In the Central region, rice farming remains a major driver, while in the Eastern area, fruit cultivation and the proximity to industrial zones create a mixed-use demand for tractors. These regions benefit from better access to technology, maintenance services, and financing facilities, supporting steady market activity.

Key Vendors

Key Company Profiles

• AGCO Corporation
• CNH Industrial N.V.
• Deere & Company
• KUBOTA Corporation

Other Prominent Company Profiles

• YANMAR HOLDINGS CO., LTD.
• Changzhou Dongfeng Agricultural Machinery Group Co., Ltd.
• Antonio Carraro
• Action Construction Equipment Ltd.
• CLAAS KGaA mbH
• Deutz-Fahr
• ISEKI & CO., LTD
• BCS S.p.A.
• Talaythong Factory Co., Ltd.
• TAFE
• Jiangsu Yueda Intelligent Agricultural Equipment Co., Ltd
• Ragnar
• PREET GROUP
• Sonalika
• Mahindra & Mahindra

Segmentation & Forecast

Horsepower

• Below 50 HP
• 50 HP to 100
• Above 100 HP

Drive Type

• 2 Wheel Drive
• 4 Wheel Drive

Geography

• Thailand
• Northeastern
• Bangkok
• Northern
• Central
• Eastern
• Southern
• Western

Key Questions Answered in the Report:

How big is the Thailand tractor market?

What is the growth rate of the Thailand tractor market?

Which region dominates the Thailand tractors market share?

What are the significant trends in the Thailand tractor market?

Who are the key players in the Thailand tractor market?

Check Out Some of the Top Selling Research Reports:    

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https://www.arizton.com/market-reports/malaysia-tractor-market

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