Vietnam Tractor Market Outlook & Forecasts Report 2023-2024 & 2029: Increased Focus on Smart & Autonomous Tractors, Use of Bioenergy, and Growing Farm Mechanization [Yahoo! Finance]
CNH Industrial N.V. Common Shares (CNH)
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Source: Yahoo! Finance
The Vietnam Tractor Market's size was 5,015 Units in 2023, and is expected to reach 6,128 Units by 2029, rising at a CAGR of 3.40%. The Vietnam tractor market is characterized by various global vendors that account for most of the market share. Therefore, it would be difficult for new players to compete with well-established vendors in the market. The key competitive factors of the industry players include efficiency, product reliability & availability, after-sales service, and price. Furthermore, in 2023, Kubota, Yanmar, Claas, and CNH Industrial dominated the Vietnam tractor market with a collective market share of over 70%. These brands have adopted several strategies to gain traction in the industry. These companies focus on product innovation, strategic partnerships, and expanding distribution networks to enhance their industry presence. Various tractor companies have acquired or partnered with technological companies to improve their offerings nationwide. Vendors invest i
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