Global Electric Farm Tractor Market 2024-2030

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    ELECTRIC FARM TRACTOR MARKET

     

    INTRODUCTION ELECTRIC FARM TRACTOR MARKET

    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.

     

    infographic: Electric Farm Tractor Market, Electric Farm Tractor Market size, Electric Farm Tractor Market trends and forecast, Electric Farm Tractor Market risks, Electric Farm Tractor Market report

     

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

     

    ELECTRIC FARM TRACTOR 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 the electrification of agriculture tractors. The biggest problem lies in the specific energy of Li-ion batteries and the pulling power from electric motors 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 the 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.

     

    ELECTRIC FARM TRACTOR MARKET RECENT LAUNCH

     

    More than 60,000 linked vehicles in the construction, mixed fleet, garbage, and recycling industries are served by Coretex, a telematics solutions supplier in North America, Australia, and New Zealand.

     

    Coretex also provides fleet management and compliance solutions. EROAD anticipates the acquisition will strengthen its position as a global telematics supplier and assist in achieving its target of 250,000 global units. EROAD has more than 300 employees spread across New Zealand, Australia, and North America.

     

    The merged firm is positioned to boost EROAD’s market share in North America following the New Zealand Commerce Commission’s decision to approve the transaction.

     

    EROAD said that it had bolstered its position as a provider of trailer telematics and in-vehicle management systems in the North American market.

     

    According to EROAD, Coretex’s range of products, solutions, and services will create new growth opportunities in vertical industries like construction, mixed fleets, waste management, and recycling.

     

    By using an end-to-end vertical industry strategy, Coretex excels at considering client needs within the context of the supply chain.

     

    With a goal of finishing the integration within the next 12 to 18 months, the combined organisation is currently engaged in strategic planning to expand on the justification stated in the business case for the acquisition.

     

    ELECTRIC FARM TRACTOR MARKET NEW PRODUCTS DEVELOPMENT

    As per John Deere, the future farming vision is centered 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

     

     

    ELECTRIC FARM TRACTOR MARKET SIZE AND FORECAST

    The global electric farm tractor market is estimated at $XXM in 2023 growing at –% CAGR till 2030

     

    ELECTRIC FARM TRACTOR MARKET COMPANY PROFILES

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

     

    THIS ELECTRIC FARM TRACTOR MARKET REPORT WILL ANSWER FOLLOWING QUESTIONS

    1. Market opportunity for electric tractors by region, application, and power output (Units and $M), 2024-2030
    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 no Topic
    1 Market Segmentation
    2 Scope of the report
    3 Abbreviations
    4 Research Methodology
    5 Executive Summary
    6 Introduction
    7 Insights from Industry stakeholders
    8 Cost breakdown of Product by sub-components and average profit margin
    9 Disruptive innovation in the Industry
    10 Technology trends in the Industry
    11 Consumer trends in the industry
    12 Recent Production Milestones
    13 Component Manufacturing in US, EU and China
    14 COVID-19 impact on overall market
    15 COVID-19 impact on Production of components
    16 COVID-19 impact on Point of sale
    17 Market Segmentation, Dynamics and Forecast by Geography, 2020-2025
    18 Market Segmentation, Dynamics and Forecast by Product Type, 2020-2025
    19 Market Segmentation, Dynamics and Forecast by Application, 2020-2025
    20 Market Segmentation, Dynamics and Forecast by End use, 2020-2025
    21 Product installation rate by OEM, 2020
    22 Incline/Decline in Average B-2-B selling price in past 5 years
    23 Competition from substitute products
    24 Gross margin and average profitability of suppliers
    25 New product development in past 12 months
    26 M&A in past 12 months
    27 Growth strategy of leading players
    28 Market share of vendors, 2020
    29 Company Profiles
    30 Unmet needs and opportunity for new suppliers
    31 Conclusion
    32 Appendix
     
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