Global Electric Farm Tractor Market 2020-2025

October 28, 2020
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GLOBAL ELECTRIC FARM TRACTOR MARKET

 

INTRODUCTION

Electrification in auto industry has been a global trend for more than 5 years now and it was just a matter of time when it would trickle down to off highway vehicles.

 

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Equipment manufacturers across the globe are experimenting with various electrical equipment to improve tractors and implements.

 

MARKET DYNAMICS

Electrically driven tractors could be very efficient in energy consumption and the weight to power ratio / power density. The absence of emissions could be a crucial environmental benefit.

The agriculture industry believes there are a few barriers that are preventing electrification of agriculture tractors. The biggest problem lies in the specific energy of Li ion batteries and the pulling power from electric motor as compared to Diesel as a fuel.

India being the biggest farm tractor market accounting for almost 35-38% of global production is also making progress on electric front. In 2017, Escorts Ltd launched India`s first electric tractor concept. The product was aimed to cater to 22 HP to 90 HP range and compliant with tier 4 emission norms of Europe and America.

US based Solectrac has manufactured 10-12 units of eUtility models based on two-wheel drive Farmtrac diesel tractor hardware from Escorts. It already has the Solectrac e70N in development which is a larger 70hp-equivalent model with four-wheel drive.

 

 

NEW PRODUCTS DEVELOPED

As per John Deere, the future farming vision is centred around three fields:

  1. Electrification
  2. Artificial Intelligence (AI) and
  3. Automation and autonomy

In March 2020- John Deere showcased “Joker”, the fully autonomous electric tractor with articulated steering and a tracked single axle.

In Jan 2020- Kubota unveiled prototypes of electric tractors and electric compact excavators. It is actively engaged in research and development of electric components like motors, inverters, and battery packs.

In Nov 2019, CNH Industrial N.V.: STEYR showcased future farming technology with its STEYR Konzept – a hybrid powered concept tractor

 

 

MARKET SIZE AND FORECAST

The global electric farm tractor market is estimated at $XXM in 2020 growing at –% CAGR till 2025

 

COMPANY PROFILES

  1. John Deere
  2. Case New Holland
  3. Escorts Ltd
  4. Mahindra and Mahindra
  5. Solectrac
  6. AGCO
  7. Fendt

 

THIS REPORT WILL ANSWER FOLLOWING QUESTIONS

  1. Market opportunity for electric tractors by region, application and power output (Units and $M), 2020-2025
  2. Important growth drivers and trends in electric farm tractor market
  3. New product development and impact of development in Lithium ion batteries
  4. COVID impact on electric tractor adoption

 

Sl noTopic
1Market Segmentation
2Scope of the report
3Abbreviations
4Research Methodology
5Executive Summary
6Introduction
7Insights from Industry stakeholders
8Cost breakdown of Product by sub-components and average profit margin
9Disruptive innovation in the Industry
10Technology trends in the Industry
11Consumer trends in the industry
12Recent Production Milestones
13Component Manufacturing in US, EU and China
14COVID-19 impact on overall market
15COVID-19 impact on Production of components
16COVID-19 impact on Point of sale
17Market Segmentation, Dynamics and Forecast by Geography, 2020-2025
18Market Segmentation, Dynamics and Forecast by Product Type, 2020-2025
19Market Segmentation, Dynamics and Forecast by Application, 2020-2025
20Market Segmentation, Dynamics and Forecast by End use, 2020-2025
21Product installation rate by OEM, 2020
22Incline/Decline in Average B-2-B selling price in past 5 years
23Competition from substitute products
24Gross margin and average profitability of suppliers
25New product development in past 12 months
26M&A in past 12 months
27Growth strategy of leading players
28Market share of vendors, 2020
29Company Profiles
30Unmet needs and opportunity for new suppliers
31Conclusion
32Appendix

 

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