Thailand Agriculture Tractors Market is Expected to Grow at a CAGR of 6.1% During the Forecast Period, 2019-2024 - ResearchAndMarkets.com
The agriculture tractor market in Thailand is expected to grow at a CAGR of 6.1% during 2019-2024.
The "Thailand Agriculture Tractors Market-Size, Trends, Competitive Analysis and Forecasts (2019-2024)" report has been added to ResearchAndMarkets.com's offering.
The agriculture tractor market in Thailand is expected to grow at a CAGR of 6.1% during 2019-2024.
Agriculture is an important sector in Thailand and the largest source of employment of rural population of the country. Agricultural production not only caters to domestic consumption but also generates substantial revenues to the country through exports. However, the importance of agriculture declined slightly due to the expansion of other sectors such as manufacturing, tourism, construction and service sectors. The development of these industries have led a major shift of labor force from the agricultural sector creating an on-farm labor shortage crisis. Mechanization, therefore, was adopted for the development of modern agricultural production system in Thailand. Farm Mechanization have created a market for tractors in Thailand.
Drivers
Urbanization, the growth of nonagricultural sectors, a decreasing agricultural population leading to labor shortages, coupled with increasing demand of agriculture products for domestic consumption and exports have triggered the demand for agricultural machinery market in Thailand. Farmers are increasingly adopting farm mechanization to reduce labor costs and enhance farm productivity. The population expansion in the country is leading to a growing demand for food. Along with this, the push from the Government to increase exports from agriculture sector has created a greater need to increase farm productivity. Agricultural machinery, therefore, has become an effective approach to enhance production. Tractor being the most important machinery is expected to benefit the most from the combination of above macroeconomic factors.
Restrains
More number of smaller farm holdings decreases field capacity of agricultural machinery and increases energy consumption per unit area. Moreover, inadequate rural infrastructure, such as lack of irrigation and drainage system, and the local socioeconomic conditions negatively affects the growth of the agriculture tractor market. Also, preference for second-hand tractors and lack of access to low interest loans from financial institutions further restricts the farmers from investing in agriculture tractors.
Competitive Landscape
Kubota, Yanmar, John Deere, Ford and New Holland are major players in the agriculture tractor market in Thailand. The tractor market in Thailand is concentrated in a few multinational foreign players with a strong degree of rivalry. The local manufacturing establishments are relatively small, therefore not being able to produce machines with high quality. The major players are focused on brand building to expand and retain customer base. In addition, the players are developing distributors network to ensure quick service to the farmers. Innovative pricing strategies and financing schemes are also adopted to cater to the price sensitive farmers.
Key Deliverables
- Market trends since 2015 and five-year forecasts of market growth
- Detailed analysis of the micro and macro elements influencing demand trends
- Identifying opportunity spaces across segments
- Supply & demand side trend and analysis
- Price trend analysis, investment prospects and competition pattern
- Insights on the growth potential of the market
- Detailed analysis of major producers covering financial investments & strategies adopted
- Competitive landscape of the industry
Key Topics Covered:
1. Introduction
1.1 Research Methodology
1.2 Scope of the Study
1.3 Assumptions
2. Summary
3. Industry Dynamics
3.1 Drivers
3.1.1 Growing access to subsidies and credits for Farm Machinery in Asia
3.1.2 Push for agriculture mechanization from policy makers
3.1.3 Focus to increase cropping intensity
3.1.4 Dwindling agriculture laborers due to Urbanization
3.2 Restraints
3.2.1 Diminishing area under agriculture
3.2.2 Increased number of fragmented landholding in Asia
3.2.2 Consolidating farmland under contract farming & co-operatives
3.3 Opportunities
3.3.1 Growing emphasis on Precision farming
3.3.2 Hill Agriculture
3.3.3 Gender friendly tools and Equipment
3.3.4 Crop Specific Package of machines
3.4 Porter's Five Forces Analysis
3.4.1 Bargaining power of Suppliers
3.4.2 Bargaining power of Buyers
3.4.3 Degree of Competition
3.4.4 Threat of Substitution
3.4.5 Threat of new entrants
3.5 Future Trends in the Industry
3.6 Value Chain Analysis
3.7 Industry Policies & Regulations
3.8 Market Innovations
4. Market Size and Forecast
4.1 Market Share, By Types
4.1.1 Utility Tractors
4.1.2 Row crop tractors
4.1.3 Garden Tractor
4.1.4 Orchard Tractor
4.1.4 Rotary Tillers
4.1.5 Others
4.2 Market Share, By Horse Power
4.2.1 Below 40 HP
4.2.2 40 HP-100 HP
4.2.3 Above 100 HP
4.3 Market Share, By Wheel Type
4.3.1 Two Wheel
4.3.2 Four Wheel
5. Competitive Analysis
5.1 Market Share Analysis
5.2 Growth Strategies of leading players
5.3 Investment and Development Prospects
5.3.1 Investment in past five years
5.3.2 Investment Opportunities
5.4 Competition Pattern
5.4.1 Concentration Ratio
5.4.2 Industry Competition
5.5 Price Trend Analysis
5.5.1 Product Classifications and Their Prices
5.5.2 Factors Influencing Prices
6. Company Profiles
6.1 AGCO Corp.
6.2 Claas KGaA mbH
6.3 CNH Industrial N.V
6.4 Deere and Company
6.5 Deutz-Fahr
6.6 Escorts Limited
6.7 Kubota Corporation
6.8 Kuhn Group
6.9 Mahindra & Mahindra Ltd.
6.10 Tractors and Farm Equipment Ltd.
6.11 Yanmar Company Limited
For more information about this report visit https://www.researchandmarkets.com/r/z58vsa
View source version on businesswire.com: https://www.businesswire.com/news/home/20200123005399/en/