The farming sector is reliant to a highly extent on agricultural equipment, since it benefits in growing productivity, at decreased costs, with lower human and animal effort. Some of the common agricultural machinery utilized in Thailand include cultivators, tractors, and planters mowing tools. The central government of Thailand has proposed numerous initiatives aiming on ‘on-farm mechanizations’, which are helping the penetration of advanced machinery in the agricultural segment of the country. Frequent innovations in the designs and operations of agricultural equipment are the foremost driving force of the industry.
Crop production augments by decreasing the downtimes and enables highly precise operations. This augments the production of food which is accommodating for the increasing population. Some of the foremost drivers are developing the agricultural infrastructure in Thailand regions, growing production and sales of agricultural machinery. According to the latest market analysis report by Ken Research, ‘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’ the revenues from the complete agriculture machinery market augmented at a positive single-digit CAGR of 2.7% throughout the period of 2013 - 2019. The contribution of the tractor market to the complete market stood at more than 50.0% during 2019. Syndicate Harvesters have been the second-largest category, to the complete revenues of the agriculture equipment market largely owing to growing government support, rising per capita income, and growing demand for rice around the country.
Thailand Agricultural Tractor Market: The revenue from the tractor market in Thailand augmented at a CAGR of 4.6% throughout the period 2013 - 2019. Tractors have been classified on the basis of power and those that variety from 20 to 75 hp were most preferred in Thailand, registering for the greatest total tractor sales volume.
Thailand Combine Harvester Market: The market revenue from combines harvesters augmented at a CAGR of 4.7% during the same duration. Combine harvesters of 70 hp and below registered for the greatest total sales of combined harvesters. Harvesters of 70-105 hp and above 105 hp underwritten remaining share respectively to the complete sales of combine harvesters in Thailand during 2019.
Thailand Rice Transplanters Market: The market revenue for Rice Transplanters registered for a CAGR of 5.1% throughout 2013 - 2019. Rice transplanters of 4 rows and 6 rows contributed around the greatest share to complete sales. Transplanters of 8-row riding type underwritten remaining volume share throughout 2019.
Thailand Agricultural Implements Market: The revenues from the agriculture implements market augmented at a CAGR of 5.7% during the same period. The majority of the tractors' sales are attended by implements sales in Thailand. Hence, the growth of the implements market is extremely dependent on the sale of tractors around Thailand.
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Thailand Agricultural Machinery market in terms of revenue will augment at a positive CAGR of 1.7% throughout the period 2019-2025. The market in the near future is projected to grow at a tremendous rate due to the introduction of smart farming approaches such as precision farming and digital farming. The sector is also projected to witness greater investment in farm machinery with the augment in commodity prices leading to greater farm income. Producers are now developing machines that have improved technologies integrated into them such as drone monitoring and wireless soil probe which could generate a positive impact over the long term.
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