Electric Farm Tractor Market Report 2022-2028

1. Electric Farm Tractor Market - Global Size, Share, Trend Analysis, Opportunity and Forecast Report, 2022-2028

2. Global Electric Farm Tractor Market - Industry Trends & Forecast Report, 2028 BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, expects Global Electric Farm Tractor Market size to grow at a CAGR of 23% during the forecast period between 2022 and 2028, reaching a value of USD 532.9 million by 2028. Major growth drivers for global electric farm tractor market are strict government regulations to reduce pollution and high fossil fuel prices. Demand for electric farm tractors is increasing due to reduced power consumption and maintenance costs, combined with the capacity to transport heavier loads. Growing environmental concerns have prompted farmers to employ emission-free and environmentally friendly farming practices.

3. Growth Drivers High adoption rate of electric tractors Electric farm tractors are becoming prevalent, as they help in the reduction of fuel expenses, lowering of carbon dioxide emissions, and increasing the efficiency with which energy sources are used. The use of electric farm tractors is also expanding to assure the vehicle's reliability. The introduction of innovative technologies and their increasing usage in the automotive industry are also significant factors that are projected to give profitable chances for the participants in the global electric farm tractor market.

4. Restraints  Expanding rental market in developing countriesThe procurement offarm equipment, such as tractors and harvesters, is the most considerable investment in agricultural activities, accounting for the maximum part of the entire market for equipment rentals globally. The limited adoption rate of agricultural machinery in developing countries is primarily, due to small farmers' inability to make major financial commitments. Therefore, renting agricultural equipment is a popular alternative among farmers as it allows them to enhance output, productivity, and profitability while reducing turnaround time.

5. Impact of COVID-19 The COVID-19 pandemic affected the supply chain for most of sectors adversely around the world, including the electric farm tractor industry. Agricultural productivity was hampered for farmers during the COVID-19 pandemic leading to decline in their revenue generation. As a result, farmers could not afford advanced agricultural equipment. In addition, the imposition of lockdowns, mobility restrictions, and the closure of industrial units drastically affected the whole supply chain, including the procurement of farm equipment parts. Sample Copy of the Report: https://www.blueweaveconsulting.com/report/electric-farm-tractor-market/report-sample

6. Global Yacht Shell Doors Market – Regional Insights Geographically, global electric farm tractor market has five major regions: North America, Europe, Asia Pacific (APAC), Latin America, and Middle East and Africa. These regions are further segmented into key countries. The APAC region holds the highest market share of the global market for electric farm tractors due to rapidly expanding demand for tractors in China and India. Furthermore, the agriculture sector is a critical component of India's economy. As a result, tractors are required to complete large-scale tasks. Furthermore, there is a considerable increase in demand for electric farm tractors in the region, which is being done to increase the field's total production.

7. Competitive Landscape Major players operating in global electric farm tractor Market include AGCO Corporation, Deere and Company, Kubota Corporation, Escorts Limited, Mahindra and Mahindra, Dongfend, SOLECTRAC, J.C. Bamford Excavators Ltd. (JCB), Alke, Cummins Inc., Fendt, Kubota Corporation, Motivo Engineering, Sonalika, Monarch Tractor, Yanmar Holdings Co., Ltd., AutoNxt Automation Pvt. Ltd., Cellestial, Ztractor, and EcoFactor. To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.

8. Recent Development In April 2022 – John Deere and GUSS (Global Unmanned Spray System) Automation, a pioneer in semi-autonomous sprayers for orchards and vineyards, formed a joint venture to further collaborate with the Deere sales channel. In April 2022 - Solectrac, a manufacturer of all-electric tractors and an operational subsidiary of Ideanomics, included Columbiana Tractor, LLC, based in Westover, Alabama, to its authorized sales and dealer relationship network. In September 2021 – Motivo Engineering introduced the HARVEST e-tractor that obtains energy from solar panels, wind turbines, and other power grids.

9. Key Players AGCO Corporation, Deere and Company, Kubota Corporation, Escorts Limited, Mahindra and Mahindra, Dongfend, SOLECTRAC, J.C. Bamford Excavators Ltd. (JCB), Alke, Cummins Inc., Fendt, Kubota Corporation, Motivo Engineering, Sonalika, Monarch Tractor, Yanmar Holdings Co., Ltd., AutoNxt Automation Pvt. Ltd., Cellestial, Ztractor, EcoFactor.

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