South East Asia Agricultural Tractors Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

The South East Asia Agricultural Tractor Market is segmented by type into orchard tractors, Row-crop tractors, utility tractors, by Horsepower into less than 12 HP, 12 HP to 99 HP, 100 HP to 175 HP, above 175 HP. A geographical analysis covering the top 8 countries has also been included.

Market Snapshot

Study Period: 2016 - 2026
Base Year: 2020
CAGR: 4.9 %

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Market Overview

The increasing unavailability of farm laborers and growing mechanization of agriculture, and demand for various tractor with different horsepower are boosting the sales of agriculture tractors in South East Asia. Increasing demands for power, precision, handling, and efficiency have shaped the development of the modern planter tractor and continue to drive the development of these tractors. In developing countries, the demand for lower HP tractors is high due to the low disposable income of farmers and high labor cost. Farmers prefer small and customized tractors for agricultural purposes due to small farmland sizes. Moreover, lesser fuel consumption by small tractors helps to empower small and marginal farmers.

Scope of the Report

The Southeast Asian Agricultural Tractors Market is projected to grow at a CAGR of 4.9% during the forecast period (2020-2025). The tractor used in agricultural operations has been considered. The market does not cover other agricultural machinery and attachments to the tractor. The tractor used for industrial and construction purposes is also excluded from the study. Increasing farm mechanization in these countries fortifies the demand and production of agricultural tractors. However, repair and maintenance expenses are also expanding, which acts as a restraint to the market.

By Type
Orchard Tractors
Row-crop Tractors
Utility Tractors
by Horse Power
Less than 12 HP
12 HP to 99 HP
100 HP to 175 HP
Above 175 HP
Rest of South East Asia

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Key Market Trends

Increasing Cost of Farm Labor

The cost of farm labor has a direct relationship with the percentage of the total population of a country employed in agriculture, considering simple demand-supply economics, thereby affecting the agricultural tractors market in South East Asia. On average, developing economies have larger percentages of the population dependent on agriculture. However, the percentages have decreased over time as a large number of people are migrating to the urban area every year. Farmers are increasingly adopting agricultural mechanization as a substitute for manual labor with a more cost-effective, easily available, and more efficient means of agricultural operation. Tractors being the primary source of power for driving agricultural machinery have, thus, seen a phenomenal rise in terms of sales in these countries during the study period.


Increasing Usage of Tractors in Vietnam

The Philippines is the largest tractor importer of Vietnam, followed by the Netherlands, the United States, Laos, and Australia. In 2016, Vietnam exported 20.8%, worth USD 2.5 million of total tractor exports, while it registered tractor export value of USD 2.0 million from the Netherlands, USD 1.9 million from the United States, USD 1.0 million from Laos, and USD 0.8 million from Australia. Hoang Huy Hoang Co. Ltd and Minh Luan Trading Private Enterprise are the largest farm tractor exporters in the country and accounted for around 50% of the exports in terms of quantity. Other exporters are Thanh Cong Joint Stock Company, Han Automobile Service Trading Production Co. Ltd, and Gold Star Agricultural Machine Co. Ltd. The Central Highlands is the largest agricultural tractor market in Vietnam, acquiring 47.6% of the total market share in the country in 2017, followed by the South East and Mekong River Delta.


Competitive Landscape

Companies in the country are focusing on expansions and product launches. For instance, Truong Hai Auto Corporation (THACO) established new agricultural machinery manufacturing plant with an enhanced annual production capacity of 2000 tractors at Chu Lai, Vietnam, in February 2018. Kubota launched two new tractor models—L4018VN (40HP) and L3218 (32HP)—in the Vietnamese market, in January 2018.

Table of Contents


    1. 1.1 Study Deliverables

    2. 1.2 Study Assumptions

    3. 1.3 Scope of the Study




    1. 4.1 Market Overview

    2. 4.2 Market Drivers

    3. 4.3 Market Restraints

    4. 4.4 Porter's Five Forces Analysis

      1. 4.4.1 Bargaining Power of Suppliers

      2. 4.4.2 Bargaining Power of Buyers/Consumers

      3. 4.4.3 Threat of New Entrants

      4. 4.4.4 Threat of Substitute Products

      5. 4.4.5 Intensity of Competitive Rivalry


    1. 5.1 By Type

      1. 5.1.1 Orchard Tractors

      2. 5.1.2 Row-crop Tractors

      3. 5.1.3 Utility Tractors

    2. 5.2 by Horse Power

      1. 5.2.1 Less than 12 HP

      2. 5.2.2 12 HP to 99 HP

      3. 5.2.3 100 HP to 175 HP

      4. 5.2.4 Above 175 HP

    3. 5.3 Geography

      1. 5.3.1 Thailand

      2. 5.3.2 Vietnam

      3. 5.3.3 Malaysia

      4. 5.3.4 Indonesia

      5. 5.3.5 Singapore

      6. 5.3.6 Philippines

      7. 5.3.7 Cambodia

      8. 5.3.8 Mynamar

      9. 5.3.9 Rest of South East Asia


    1. 6.1 Most Adopted Strategies

    2. 6.2 Market Share Analysis

    3. 6.3 Company Profiles


      2. 6.3.2 CLAAS KGaA mbH

      3. 6.3.3 Deere & Company

      4. 6.3.4 YANMAR CO., LTD.

      5. 6.3.5 CNH Industrial

      6. 6.3.6 ISEKI CO., LTD

      7. 6.3.7 Mitsubishi Corporation

    4. *List Not Exhaustive

**Subject to Availability

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Frequently Asked Questions

The undefined market is studied from 2016 - 2026.

The undefined is growing at a CAGR of 4.9% over the next 5 years.

KUBOTA Corporation, CLAAS KGaA mbH, Deere & Company, YANMAR CO., LTD., CNH Industrial are the major companies operating in undefined.

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