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Tuesday, October 20th, 2020

Thailand Agricultural Machinery Market Outlook to 2025

INVC NEWS       

New Delhi,    

The report titled “Thailand Agricultural Machinery Market Outlook to 2025 – Agriculture Tractor Market (By Type: 2W and 4W Tractors, By Power: 8HP-15HP, 20HP-35HP, 36HP-47HP, 48HP-75HP, 75HP-100HP, 100HP-120HP and Above 120HP), Combine Harvester Market (By Power: 70HP & Below, 75HP-105HP and Above 105HP), By Rice Transplanters (By Rows: 4Row, 6Row and 8Row), Agriculture Implements Market” provides a comprehensive analysis of the agricultural machinery market in Thailand. The report covers aspects such as the market size on the basis of sales volume and revenue for Tractors, Combine Harvesters, Rice Transplanters and Agriculture Implements. The segmentation for Tractors, Combine Harvesters has been created on the basis of Horsepower while the segmentation for Rice Transplanters has been showcased by Row. The report also covers the market share, competitive landscape, and business model of hire purchase and lease, along with the strength and weaknesses of major players. In addition to this, the report also covers the country overview, government regulation, and agricultural overview of Thailand. Land under cultivation, Changes in cropping patterns, farm holding structure, and scale of mechanization are covered in an agricultural overview. The report concludes with market projections for the future of the Agricultural Machinery Market in Thailand including forecasted market size by revenue and sales volume by 2025 and segmentation and the analysts’ take on the future.

Thailand Agricultural Machinery Market Overview and Size: The revenues from the overall agriculture machinery market increased at a positive single-digit CAGR of 2.7% during the period 2013 - 2019. The contribution by the tractor market to the overall market stood at more than 50.0% in 2019. Combine Harvesters have been the second-largest category, to the overall revenues of the agriculture equipment market largely due to largely due to rising government support, growing per capita income and rising demand of rice in the country.

Thailand Agricultural Machinery Market Segmentation:

Thailand Agricultural Tractor Market: The revenue from the tractor market in Thailand increased at a CAGR of 4.6% during the period 2013 - 2019. Tractors have been segmented on the basis of power and those that range from 20 to 75 hp were most preferred in Thailand, accounting for the highest total tractor sales volume.

Thailand Combine Harvester Market: The market revenue from combine harvesters increased at a CAGR of 4.7% during the same period. Combine harvesters of 70 hp and below accounted for the highest total sales of combine harvesters. Harvesters of 70-105 hp and above 105 hp contributed remaining share respectively to the overall sales of combine harvesters in Thailand in 2019.

Thailand Rice Transplanters Market: The market revenue for Rice Transplanters accounted for a CAGR of 5.1% from 2013 - 2019. Rice transplanters of 4 rows and 6 rows contributed around the highest share to overall sales. Transplanters of 8-row riding types contributed remaining volume share during 2019.

Thailand Agricultural Implements Market: The revenues from the agriculture implements market increased at a CAGR of 5.7% during the same period. The majority of the tractor's sales are accompanied by implements sales in Thailand. Therefore, the growth of the implements market is highly dependent on the sale of tractors in Thailand.

Competition Scenario

The competition in the market is concentrated with respect to sales of agricultural tractors, Japanese manufacturer Siam Kubota dominated the market in 2019. This was followed by Yanmar S.P., John Deere, Iseki, New Holland, and others. In addition to this, with respect to the sale of combined harvesters and rice transplanters, Siam Kubota has accounted highest share in overall sales followed by TAMCO, KasetPhattana, Sakpattana, Yanmar S.P., and others. These companies compete on the basis of parameters such as Price, Products Offered, Number of Tractor Variants, Distribution Network, and After Sales Service.

Future Outlook and Projections

Thailand Agricultural Machinery market in terms of revenue will increase at a positive CAGR of 1.7% during the period 2019-2025. The market in the near future is estimated to grow at a tremendous rate owing to the introduction of smart farming techniques such as precision farming and digital farming. The sector is also expected to witness higher investment in farm machinery with the increase in commodity prices leading to higher farm income. Manufacturers are now developing machines that have advanced technologies integrated into them such as drone monitoring and wireless soil probe which could create a positive impact over the long term. An emerging trend in the agriculture equipment industry is IoT based smart farming which will help in remote monitoring and control of several cultivation processes and also record the data related to it. The farmers are becoming tech-savvy and are willing to adopt machinery which has advanced technology integrated into it thereby, driving Thailand Agricultural Machinery Market both in terms of revenue and volume in the future.

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