Thailand Tractor Market Overview: 2025-2030
Base Year: 2024
Historical Years: 2020-23
Forecast Years: 2025-30
The Thailand Tractor Market size was valued at around 55,112 units in 2024 and is projected to reach 70,872 units by 2030. Along with this, the market is estimated to grow at a CAGR of around 4.12% during the forecast period, i.e., 2025-30. The growth in tractor sales is driven primarily by the government’s goals to modernize agricultural practices and improve resource utilization to boost the overall farm productivity. Moreover, growth in farmers’ income and efforts to boost the agricultural exports are also contributing immensely to the sales of tractors.
Markntel Advisor’s Thailand Tractor Market Insights report provides the current and forecast market analysis, individual leading companies’ market shares, challenges, Thailand Tractor Market drivers, barriers, Thailand Tractor Market Trends, and Key Players in Thailand Tractor Market.
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Thailand Tractor Market Driver: 2025-2030
Increasing Demand for Agricultural Products – The amplified need for food in Thailand is supported by the rising population, exponential growth in tourist arrivals, and evolving food consumption patterns. For instance, Thailand welcomed around 35.6 million tourists in 2024, an increase of around 25% over 2023. Eventually, new food trends in urban cities of the country, such as multi-cuisine dishes, organic products, plant-based healthy diets, etc., are also causing a rise in agricultural production. Additionally, Thailand exports different agricultural products such as rice, sugar, frozen shrimp, canned tuna, frozen fruits, and cassava, making the country the largest exporter of agricultural products in the ASEAN region.
According to the International Rice Research Institute, Thailand is ranked among the top 10 rice producers in 2025. Rice is cultivated on around 50% of the country’s agricultural area. In 2025, the country is ranked among the top two global rice exporters. The country exported around 2.46 million tons of rice in 2024.
As per the International Trade Administration (ITA), Thailand’s agricultural sector exports increased from USD47.33 billion in 2022 to USD49.70 billion in 2023, making Thailand a strong agricultural competitor. To meet the export demands, the requirement for agricultural production also increases, thereby encouraging the farmers to use the most efficient tractors to increase production. With growing domestic and export requirements, Thai farmers are scaling up their operations. Therefore, tractors are crucial for cultivating larger areas of land, improving productivity, and ensuring consistent yields. Thus, the surging farm production needs will continue to drive the market in the foreseeable future.
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Thailand Tractor Market (2025-30): Segmentation Outlook
The market report has segmented the market into the following categories:
· By Tractor Type
o 2-Wheel,
o 4-Wheel,
o Others (6- Wheel, 8-Wheel, etc.),
· By Horsepower Type
o Less than 20HP,
o 20-40 HP,
o 41-60 HP,
o 61-100 HP,
o Above 100 HP,
· By Price Range
o Less than USD20,000,
o USD20,000-USD30,000,
o USD31,000-USD40,000,
o Above USD41,000,
· By Application
o Agriculture,
o Construction,
o Mining,
o Transport & Logistics,
· By Region
o North
o South
o Central
o Northeast
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Top Companies Operating in the Thailand Tractor Market:
- John Deere
- Siam Kubota Corporation Co., Ltd.
- CNH Industrial NV (New Holland)
- Mitsubishi Heavy Industries (Thailand) Ltd. (MHIT)
- Talaythong Factory Co.,Ltd.
- Yanmar S.P. Co., Ltd.
- IST Farm Machinery Co., Ltd.
- Mahindra & Mahindra
- Machines Equipments
- Others
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