Vietnam Agricultural Tractor Market Size & Share Analysis - Growth Trends & Forecasts (2025 - 2030)

The Vietnam Agricultural Tractors Market Report is Segmented by Engine Power (less Than 15 HP, 15 To 30 HP, 31 To 45 HP, 46-75 HP, and More Than 75 HP). The Report Offers Market Estimation and Forecasts in Value (USD) for the Above-Mentioned Segments.

Vietnam Agricultural Tractor Market Size & Share Analysis - Growth Trends & Forecasts (2025 - 2030)

Vietnam Agricultural Tractor Market Size

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Vietnam Agricultural Tractor Market Summary
Study Period 2019 - 2030
Base Year For Estimation 2024
Forecast Data Period 2025 - 2030
Market Size (2025) USD 655.40 Million
Market Size (2030) USD 838.86 Million
CAGR (2025 - 2030) 5.06 %
Market Concentration High

Major Players

Vietnam Agricultural Tractor Market Major Players

*Disclaimer: Major Players sorted in no particular order

Compare market size and growth of Vietnam Agricultural Tractor Market with other markets in Agriculture Industry

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Vietnam Agricultural Tractor Market Analysis

The Vietnam Agricultural Tractor Market size is estimated at USD 655.40 million in 2025, and is expected to reach USD 838.86 million by 2030, at a CAGR of 5.06% during the forecast period (2025-2030).

  • Mechanization's swift uptake in Vietnam's agriculture sector is propelling market growth. Agricultural machinery has been pivotal in boosting Vietnam's agricultural productivity and efficiency. Data from the Cooperative Economic and Rural Development Department, part of the Ministry of Agriculture and Rural Development, highlights that from 2011 to 2022, rice production mechanization in Vietnam achieved 94% for plowing and land preparation, and 42% for sowing. By embracing agricultural machinery, farmers are not only enhancing productivity and efficiency but also curbing production costs and boosting yields, a trend that's set to fuel the tractor market.
  • Vietnam's government actively champions mechanization, aiming for heightened cost and time efficiency in crop production, further energizing the market. Urbanization and growing environmental and animal welfare sensitivities have led to a marked decline in reliance on animal and human power in agriculture. With ambitions to achieve a 70% mechanization rate in crop production by 2030 and bolster farmer incomes, Vietnam's Minister of Agriculture and Rural Development underscores the nation's goals. The surge in tractor sales can be largely attributed to escalating farm mechanization rates, increasing farm labor costs, and the trend of shorter tractor replacement cycles.
  • In Vietnam, tractors play a crucial role in the mechanized land preparation for essential crops, including rice, corn, and sugarcane. Rice, with a production volume of 42 million metric tons, stands out as a leading crop in the country. Wetland rice is particularly dominant in the Mekong Delta region. Given the rising demand for these staple food crops, the tractor market is poised for growth.

Vietnam Agricultural Tractor Industry Overview

The Vietnamese agricultural tractor market is consolidated with the presence of global players in the country. Kubota Corporation, CLAAS KGaA mbH, Vietnam Engine and Agricultural Machinery Corporation, Yanmar America Corporation, and CNH Industrial are some of the major players operating in the industry. These companies are expanding their business activities by focusing on new product launches, partnerships, and investments. 

Vietnam Agricultural Tractor Market Leaders

  1. CLAAS KGaA mbH

  2. Vietnam Engine and Agricultural Machinery Corporation

  3. Yanmar America Corporation

  4. CNH Industrial

  5. Kubota Corporation

  6. *Disclaimer: Major Players sorted in no particular order
Vietnam Agricultural Tractor Market Concentration
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Vietnam Agricultural Tractor Market News

  • January 2023: New Holland, the subsidiary tractor brand of CNH Industrial revealed a prototype T7 methane power tractor that runs on a liquified version of the gas, giving longer working times to fill. The new tractor has four times the fuel storage of the firm's existing methane-powered T6, which utilizes compressed gas (CNG).
  • January 2023: Yanmar America Corporation opened the DUC NAM Agent branch to serve customers in Kim Thanh district, Hai Duong province. This will expand the business and improve sales in the region.

Vietnam Agricultural Tractor Market Report - Table of Contents

1. INTRODUCTION

  • 1.1 Study Assumptions and Market Definition
  • 1.2 Scope of the Study

2. RESEARCH METHODOLOGY

3. EXECUTIVE SUMMARY

4. MARKET DYNAMICS

  • 4.1 Market Overview
  • 4.2 Market Drivers
    • 4.2.1 Increasing Focus on Mechanisation
    • 4.2.2 Rising Government Initiatives
    • 4.2.3 Increasing Agricultural Output and Exports
  • 4.3 Market Restraints
    • 4.3.1 Increasing Tractor Rentals May Deter New Tractor Purchases
    • 4.3.2 Fragmented Land Holding
  • 4.4 Porter's Five Forces Analysis
    • 4.4.1 Bargaining Power of Suppliers
    • 4.4.2 Bargaining Power of Buyers
    • 4.4.3 Threat of New Entrants
    • 4.4.4 Threat of Substitute Products and Services
    • 4.4.5 Degree of Competition

5. MARKET SEGMENTATION

  • 5.1 Engine Power
    • 5.1.1 Less than 15 HP
    • 5.1.2 15 to 30 HP
    • 5.1.3 31 to 45 HP
    • 5.1.4 46-75 HP
    • 5.1.5 More than 75 HP

6. Competitive Landscape

  • 6.1 Most Adopted Strategies
  • 6.2 Market Share Analysis
  • 6.3 Company Profiles
    • 6.3.1 Kubota Corporation
    • 6.3.2 CLAAS KGaA mbH
    • 6.3.3 Vietnam Engine and Agricultural Machinery Corporation
    • 6.3.4 Yanmar America Corporation
    • 6.3.5 CNH Industrial
    • 6.3.6 ShanDong Huaxin Machinery Co. Ltd
    • 6.3.7 AGCO Corporation
    • 6.3.8 Tong Yang Moolsan Co. Ltd
    • 6.3.9 Truong Hai Auto Corporation (THACO)
    • 6.3.10 Deere and Company
  • *List Not Exhaustive

7. MARKET OPPORTUNITIES AND FUTURE TRENDS

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Vietnam Agricultural Tractor Industry Segmentation

A tractor is an industrial vehicle with one or two small wheels in front and two large wheels at the back for agricultural and other functions. It is used to move the attached implement that plows the field or performs other activities. For this report, tractors used in agricultural operations have been considered. The report does not cover other agricultural machinery and attachments to tractors. Tractors used for industrial and construction purposes are also excluded from the study. The Vietnam agricultural tractors market is segmented by engine power (less than 15 HP, 15 to 30 HP, 31 to 45 HP, 46-75 HP, and More than 75 HP). The report offers market estimation and forecasts in value (USD) for the above-mentioned segments.

Engine Power Less than 15 HP
15 to 30 HP
31 to 45 HP
46-75 HP
More than 75 HP
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Vietnam Agricultural Tractor Market Research FAQs

How big is the Vietnam Agricultural Tractor Market?

The Vietnam Agricultural Tractor Market size is expected to reach USD 655.40 million in 2025 and grow at a CAGR of 5.06% to reach USD 838.86 million by 2030.

What is the current Vietnam Agricultural Tractor Market size?

In 2025, the Vietnam Agricultural Tractor Market size is expected to reach USD 655.40 million.

Who are the key players in Vietnam Agricultural Tractor Market?

CLAAS KGaA mbH, Vietnam Engine and Agricultural Machinery Corporation, Yanmar America Corporation, CNH Industrial and Kubota Corporation are the major companies operating in the Vietnam Agricultural Tractor Market.

What years does this Vietnam Agricultural Tractor Market cover, and what was the market size in 2024?

In 2024, the Vietnam Agricultural Tractor Market size was estimated at USD 622.24 million. The report covers the Vietnam Agricultural Tractor Market historical market size for years: 2019, 2020, 2021, 2022, 2023 and 2024. The report also forecasts the Vietnam Agricultural Tractor Market size for years: 2025, 2026, 2027, 2028, 2029 and 2030.

Vietnam Agricultural Tractor Industry Report

Statistics for the 2025 Vietnam Agricultural Tractor market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Vietnam Agricultural Tractor analysis includes a market forecast outlook for 2025 to 2030 and historical overview. Get a sample of this industry analysis as a free report PDF download.