Growing demand for low engine power tractors, expanding farm land size and technological upgradation is driving the growth of Used Tractor Market in Thailand

1. The Thailand Used Tractor Market witnessed a dip in sales in the period of 2017-2021, but it is expected to grow significantly during the forecasted period of 2022-2027F.

Thailand has been hit by both droughts and floods in the past few years. Its rice cultivation suffered from dry spells and recorded a significant drop in production. The used tractor market was also affected by flash floods from tropical storms, which affected agricultural yields. However, it is expected that the Used Tractor Market in Thailand will grow at a CAGR of >5% during 2022-27 with GPS technology enhancing productivity and digital media penetration improving the marketing and distribution process for suppliers. Besides, farm mechanization and demand for low engine power tractors, which are more versatile and take up less space are the major growth drivers of the market.

2. Offline Channels command more than 80% of the Used Tractor Market Distribution Channel in Thailand.

Offline channels have the lion’s share in distribution channel and is likely to prevail for a long period. Online Channels are not widely used for the distribution of used tractors in Thailand. A major part of the sales distribution occurs through financial institutions or auctions. In case of default, the financial institution repossesses the machinery and auction it, to recover the investment. The auctions provide good opportunities to big retailers, dealers, associations and large farmers to buy tractors at a lesser price compared to market rate.

Get the Free Sample Report @ https://www.kenresearch.com/sample-report.php?Frmdetails=NTk2MDcy

3. The Used Tractor Market in Thailand is dominated by low engine power tractors.

The high-power tractors ranging between 76 HP- 100 HP+ have the least sales volume in the market due to the higher prices. Tractors with 36-50 HP are the most sold used tractors in the market. Low Power tractors dominates the market due to relatively lower costs. Lower engine power tractors also take up less space and are more versatile because their engines have a capacity of less than 1,500cc.

Tags: Agri-Fintech Startups in Thailand, Business Opportunity in Used Tractor Market Thailand, challenges in Thailand Used Tractor Market, Competitors in Thailand Used Tractor Market, Demand of Used Tractors in Thailand, Emerging Companies in Thailand Used Tractor Market, Financing of Used Tractors Thailand, Investors in Thailand Used Tractor Market, Isan Used Tractor Market, Lanna Used Tractor Market, Leading Players in Thailand Used Tractor Market, Major Players in Thailand Used Tractor Industry, Major Used Tractor Companies in Thailand, Multi-Brands Used Tractor Market Thailand, On-Demand Used Tractor Services in Thailand, Online Used Tractor Companies in Thailand, Online Used Tractor Platforms in Thailand, Online Used Tractor Portals In Thailand, repossessed Tractor Market Thailand, Siam Used Tractor Market, Startups in Thailand Used Tractor Market, Thailand Pre owned Tractor Market, Thailand Second Hand Tractor Market, Thailand Used Tractor Industry, Thailand Used Tractor Leasing Market players, Thailand Used Tractor Loan Service Market, Thailand Used Tractor Market, Thailand Used Tractor Market Growth, Thailand Used Tractor Market Key Players, Thailand Used Tractor Sector, Thailand Used Tractors Sales, Top Tractor Manufacturers in Thailand, Top Used Tractor Manufacturers in Thailand, Total Volume Sales of Used Tractor in Thailand, Tractor Reseller Dealers in Thailand, Used Tractor Auction House in Thailand, Used Tractor Auction market Thailand, Used Tractor Dealers in Thailand, Used Tractor Domestic Players Thailand, Used Tractor Finance Companies in Thailand, Used Tractor Finance Market in Thailand, Used Tractor financial institutions in Thailand, Used Tractor Financing Companies in Thailand, Used Tractor Loan Providers in Thailand, Used Tractor Major Classifieds Platforms Thailand, Used Tractor Major local Dealers in Thailand, Used Tractor Rental Business in Thailand, Used Tractor Sales Thailand, VC Firms in Thailand Used Tractor Market, ความท้าทายในตลาดรถแทรกเตอร์มือสองของไทย, คู่แข่งในตลาดรถแทรกเตอร์มือสองของไทย, ตลาดรถแทรกเตอร์มือสองของประเทศไทย, ตัวแทนจำหน่ายรถแทรกเตอร์ในประเทศไทย, ธุรกิจให้เช่ารถแทรกเตอร์มือสองในประเทศไทย, บริษัทเกิดใหม่ในประเทศไทย ตลาดรถแทรกเตอร์มือสอง, ประเทศไทย ขายรถแทรกเตอร์มือสอง, ผู้นำตลาดรถแทรกเตอร์มือสองของไทย, ผู้เล่นหลักในตลาดรถแทรกเตอร์มือสองของประเทศไทย, ภาครถแทรกเตอร์ใช้แล้วของประเทศไทย, อุตสาหกรรมรถแทรกเตอร์มือสองของประเทศไทย