Sandy, Utah, USA, Nov. 14, 2022 (GLOBE NEWSWIRE) -- Custom Market Insights has published a new research report titled “Electric Tractor Market Size, Trends and Insights By Battery Type (Lead-Acid Battery, Lithium-Ion Battery, Others), By Drivetrain Technology (Battery Electric Tractor, Hybrid Electric Tractor, Plug-in Hybrid Electric Tractor), By Application (Heavy-Duty Tractor, Medium-Duty Tractor, Light-Duty Tractor), and By Region - Global Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2022–2030” in its research database.
“According to the latest research study, the demand for global Electric Tractor Market Size & share was valued at approximately USD 118 Million in 2021 and is expected to reach USD 132 Million in 2022 and is expected to reach a value of around USD 250 Million by 2030, at a compound annual growth rate (CAGR) of about 13%during the forecast period 2022 to 2030.”
The report examines the Electric Tractor market’s drivers and restraints and their impact analysis. Also, the report mentions global opportunities prevailing in the Electric Tractor market.
Electric Tractor Market: Overview
The advantages of driving and decoupling loads from the engines enable electric tractors to operate with a high level of efficiency. Additionally, governments worldwide have set a target for the phase-out of vehicles powered by fossil fuels. As a result, vehicle manufacturers are making enormous progress in electric drive technology. The agricultural industry is also gaining ground on this transformation; a number of firms recently released electric tractors to assist electrification.
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Growth Factors
Electric tractors have numerous advantages over their diesel counterparts, including that they do not release carbon dioxide and have fewer moving parts, making repairs and maintenance more straightforward. The elements above are anticipated to increase the demand for electric tractors, which will fuel the expansion of the electric tractor market globally in the foreseeable future. Furthermore, due to strict pollution standards and renewable energy sources, the agriculture sector should look into e-drive solutions.
During 2022-2030, the expansion of the market for electric tractors is anticipated to be constrained by the availability of substitutes or fuel-based electric tractors. Additionally, electric tractors have several drawbacks, including their slow speed, limited battery technology, and inadequate energy storage.
(A free sample of the Electric Tractor report is available upon request; please contact us for more information.)
Our Free Sample Report Consists of the following:
- Introduction, Overview, and in-depth industry analysis are all included in the 2022 updated report.
- The COVID-19 Pandemic Outbreak Impact Analysis is included in the package
- About 220+ Pages Research Report (Including Recent Research)
- Provide detailed chapter-by-chapter guidance on the Request
- Updated Regional Analysis with a Graphical Representation of Size, Share, and Trends for the Year 2022
- Includes Tables and figures have been updated
- The most recent version of the report includes the Top Market Players, their Business Strategies, Sales Volume, and Revenue Analysis
- Custom Market Insights (CMI) research methodology
(Please note that the sample of the Electric Tractor report has been modified to include the COVID-19 impact study prior to delivery.)
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Segmental Overview
The global Electric Tractor market is categorized into battery type, drivetrain technology, and application. Due to the continued use of electric powertrains in low-power application tractors, low and medium-duty electric tractors continue to have a significant market share. On the other hand, the development of high-power tractors is predicted to increase during the forecast period due to advancements in electric vehicle technologies.
Drivetrain technology, hybrid, and electric tractors are the three market segments for electric tractors. The market for hybrid agricultural tractors dominated the overall electric tractor market in 2021. The tractors can be powered by solar, wind, or water turbines. Due to the infrastructure, hybrid tractors have dominated the market. In addition, government incentives to boost the sales of electric farm tractors are expected to significantly develop the electric tractor market.
Key questions answered in this report:
- What is the size of the Electric Tractor market and what is its expected growth rate?
- What are the primary driving factors that push the Electric Tractor market forward?
- What are the Electric Tractor Industry's top companies?
- What are the different categories that the Electric Tractor Market caters to?
- What will be the fastest-growing segment or region?
- In the value chain, what role do essential players play?
- What is the procedure for getting a free copy of the Electric Tractor market sample report and company profiles?
Click Here to Access a Free Sample Report of the Global Electric Tractor Market @ https://www.custommarketinsights.com/report/electric-tractor-market/
Regional Overview
Due to the growing demand for compact tractors in the U.S., North America is predicted to lead the global market for electric tractors. However, Europe’s share of the worldwide market for electric tractors is anticipated to increase significantly shortly, helped by consumers’ shifting preferences for electrified vehicles. Throughout the forecast period, Europe is expected to be followed by Asia-Pacific in the global market for electric tractors.
Shortly, the market for electric tractors is predicted to rise significantly in Asia-Pacific, led by India. As a result, the sales of electric tractors are anticipated to expand considerably over the study period. However, the Middle East, Africa, and Latin America are only likely to account for modest portions of the worldwide market.
Key Offerings:
- Market Share, Size & Forecast by Revenue | 2022−2030
- Market Dynamics – Growth Drivers, Restraints, Investment Opportunities, and Leading Trends
- Market Segmentation – A detailed analysis by Types of Services, by End-User Services, and by Regions
- Competitive Landscape – Top Key Vendors and Other Prominent Vendors
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Report Scope
| Feature of the Report | Details |
| Market Size in 2021 | USD 118 Million |
| Projected Market Size in 2030 | USD 250 Million |
| Market Size in 2022 | USD (2022Value) Billion/Million |
| CAGR Growth Rate | 13% CAGR |
| Base Year | 2021 |
| Forecast Period | 2022-2030 |
| Prominent Players | Alke, Deere & Company, Cummins Inc., Escorts Limited, Fendt, Motivo Engineering, Kubota Corporation, Solectrac Inc., Sonalika, Yanmar Holdings Co. Ltd., Monarch Tractor, AutoNxt Automation Pvt. Ltd., Celestial, EcoFactor, Ztractor, and Others |
| Key Segment | By Battery Type, Drivetrain Technology, Application, and Region |
| Report Coverage | Revenue Estimation and Forecast, Company Profile, Competitive Landscape, Growth Factors and Recent Trends |
| Regional Scope | North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America |
| Buying Options | Request tailored purchasing options to fulfil your requirements for research. Buy Now |
Key Players Insights
Our market analysis includes a section specifically devoted to key players operating in the Electric Tractor market. Our analysts overview each player’s financial statements, product benchmarking and SWOT analysis. In addition, the competitive landscape section includes key development strategies, market share analysis, and market positioning analysis of globally mentioned competitors.
(We customized your report to meet your specific research requirements. Inquire with our sales team about customizing your report.)
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Browse the full “Electric Tractor Market Size, Trends and Insights By Battery Type (Lead-Acid Battery, Lithium-Ion Battery, Others), By Drivetrain Technology (Battery Electric Tractor, Hybrid Electric Tractor, Plug-in Hybrid Electric Tractor), By Application (Heavy-Duty Tractor, Medium-Duty Tractor, Light-Duty Tractor), and By Region - Global Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2022–2030” Report at https://www.custommarketinsights.com/report/electric-tractor-market/
Prominent Players
- Alke
- Deere & Company
- Cummins Inc.
- Escorts Limited
- Fendt
- Motivo Engineering
- Kubota Corporation
- Solectrac Inc.
- Sonalika
- Yanmar Holdings Co. Ltd.
- Monarch Tractor
- AutoNxt Automation Pvt. Ltd.
- Celestial
- EcoFactor
- Ztractor
The global Electric Tractor market is segmented as follows:
By Battery Type
- Lead-Acid Battery
- Lithium-Ion Battery
- Others
By Drivetrain Technology
- Battery Electric Tractor
- Hybrid Electric Tractor
- Plug-in Hybrid Electric Tractor
By Application
- Heavy-Duty Tractor
- Medium-Duty Tractor
- Light-Duty Tractor
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On the basis of Geography
North America
- The U.S.
- Canada
- Mexico
Europe
- France
- The UK
- Spain
- Germany
- Italy
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of Asia Pacific
The Middle East & Africa
- Saudi Arabia
- UAE
- Egypt
- Kuwait
- South Africa
- Rest of the Middle East & Africa
Latin America
- Brazil
- Argentina
- Rest of Latin America
Directly Purchase a copy of the Electric Tractor report [220+ Pages] @ https://www.custommarketinsights.com/report/electric-tractor-market/
Key Insights:
- As per the analysis shared by our research analyst, the Electric Tractor market is estimated to grow annually at a CAGR of around 13% over the forecast period (2022-2030).
- In terms of revenue, the Electric Tractor market size was valued at around USD 118 million in 2021 and is projected to reach USD 250 million by 2030. Due to a variety of driving factors, the market is predicted to rise at a significant rate.
- The Electric Tractor market research offers a comprehensive analysis of the present market and projections through 2020–2030 to help find possibilities to profit from the existing market.
- The study includes data on the significant market drivers, challenges, and opportunities and their effects.
- The study elaborates on the SWOT analysis and Porter’s Five Forces model.
- The market study’s value chain analysis gives a comprehensive picture of the stakeholder’s responsibilities.
Recent Development
- April 2022: GUSS Automation and John Deere formed a joint venture in Kingsburg, California. The first semi-autonomous orchard and vineyard sprayers were developed by GUSS (Global Unmanned Spray System).
- March 2022: Solectrac announced a certified dealer in the Pacific Northwest to support and service customers. As part of its statewide strategy, Solectrac, a producer of electric tractors and an operating subsidiary of Ideanomics, announced the installation of a new certified dealer in the Pacific Northwest.
Browse More Ice, Electric, Hybrid and Autonomous Vehicles Related Reports:
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Electric Powertrain Market: Electric Powertrain Market Size, Trends and Insights By Applications (BEV, HEV/PHEV), By Components (Motor, Battery, Power Electronics Controller), By Vehicle Types (Passenger Cars, Commercial Vehicles), and By Region - Global Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2022–2030
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This Electric Tractor Market Research/Analysis Report Contains Answers to the following Questions.
- Which Manufacturing Technology is used for Electric Tractors? What Developments Are Going on in That Technology? Which Trends Are Causing These Developments?
- Who Are the Global Key Players in This Electric Tractor Market? What are Their Company Profile, Their Product Information, and Contact Information?
- What Was the Global Market Status of the Electric Tractor Market? What Was the Capacity, Production Value, Cost and PROFIT of the Electric Tractor Market?
- What Is the Current Market Status of the Electric Tractor Industry? What's Market Competition in This Industry, Both Company and Country Wise? What's Market Analysis of the Electric Tractor Market by Considering Applications and Types?
- What Are Projections of the Global Electric Tractor Industry Considering Capacity, Production and Production Value? What Will Be the Estimation of Cost and Profit? What Will Be Market Share, Supply and Consumption? What about imports and exports?
- What Is Electric Tractor Market Chain Analysis by Upstream Raw Materials and Downstream Industry?
- What Is Economic Impact on Electric Tractor Industry? What are Global Macroeconomic Environment Analysis Results? What Are Global Macroeconomic Environment Development Trends?
- What Are the Market Dynamics of the Electric Tractor Market? What Are Challenges and Opportunities?
- What Should Be Entry Strategies, Countermeasures to Economic Impact, and Marketing Channels for the Electric Tractor Industry?
Directly Purchase a copy of the Electric Tractor report [220+ Pages] @ https://www.custommarketinsights.com/report/electric-tractor-market/
Reasons to Purchase Electric Tractor Market Report
- Electric Tractor Market Report provides qualitative and quantitative market analysis based on segmentation involving economic and non-economic factors.
- The Electric Tractor Market report outlines market value (USD) data for each segment and sub-segment.
- This report indicates the region and segment expected to witness the fastest growth and dominate the market.
- Electric Tractor Market Analysis by geography highlights the consumption of the product/service in the region and indicates the factors affecting the market within each region.
- The competitive landscape incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled.
- Extensive company profiles comprising company overview, company insights, product benchmarking, and SWOT analysis for the major market players.
- The Industry's current and future market outlook concerning recent developments (which involve growth opportunities and drivers as well as challenges and restraints of both emerging and developed regions.
- Electric Tractor Market Includes in-depth market analysis from various perspectives through Porter's five forces analysis and provides insight into the market through Value Chain.
Click Here to Access a Free Sample Report of the Global Electric Tractor Market @ https://www.custommarketinsights.com/report/electric-tractor-market/
Reasons for the Research Report
- The study provides a thorough overview of the global Electric Tractor market. Compare your performance to that of the market as a whole.
- Aim to maintain competitiveness while innovations from established key players fuel market growth.
What does the report include?
- Drivers, restrictions, and opportunities are among the qualitative elements covered in the worldwide Electric Tractor market analysis.
- The competitive environment of current and potential participants in the Electric Tractor market is covered in the report, as well as those companies' strategic product development ambitions.
- According to the component, application, and Industry Vertical, this study analyzes the market qualitatively and quantitatively. Additionally, the report offers comparable data for the important regions.
- For each segment mentioned above, actual market sizes and forecasts have been given.
Who should buy this report?
- Participants and stakeholders worldwide Electric Tractor market should find this report useful. The research will be useful to all market participants in the Electric Tractor Industry.
- Managers in the Electric Tractor sector are interested in publishing up-to-date and projected data about the worldwide Electric Tractor market.
- Governmental agencies, regulatory bodies, decision-makers, and organizations want to invest in Electric Tractor products' market trends.
- Market insights are sought for by analysts, researchers, educators, strategy managers, and government organizations to develop plans.
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