Electric TRACTORS (2)
Explore $857 million Electric Tractors Get exclusive insights on keytrends, segments, geographical analysis, & competitive analysis!
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Electric Tractors Market to be Worth $857 Million
Global Electric Tractors Market 2024-2031 Meticulous Research a top global market research company, has released a new study titled Electric Tractors Market by Type (Utility Tractors, Compact Tractors), Propulsion Type (BEV, HEV), Battery Capacity (Under 15 kW, 15kW to 40 kW), Power Output, Application (Agriculture, Construction), and Geography - Global Forecast to 2031. The latest report from Meticulous Research indicates that the global electric tractors market is poised to reach $857 million by 2031, growing at a CAGR of 7.7% from 2024 to 2031. The market volume is expected to reach 47.4 thousand units by 2030, at a CAGR of 9.2% from 2024 to 2031. Market growth is driven by government support for the agriculture sector, increased investments from automotive OEMs, and rising environmental concerns. However, the high initial investment and insufficient EV charging infrastructure remain significant obstacles. The adoption of precision farming techniques and opportunities in emerging markets are expected to provide significant growth potential for industry players. Nonetheless, range anxiety and performance issues in heavy-duty applications may hinder market expansion. The report segments the market by type (utility, compact, row crop, industrial, and other tractors), propulsion type (battery electric and hybrid electric), battery capacity (under 15 kW, 15kW to 40 kW, over 40 kW), and application (agriculture, construction, logistics, airports, railways, commercial Page 1 of 3 Meticulous Research| sales@meticulousresearch.com
Global Electric Tractors Market 2024-2031 spaces, factories, and other uses). It also examines competitors and market dynamics at regional and country levels. Utility tractors are expected to lead the market in 2024, driven by their energy efficiency and reduced emissions compared to traditional tractors. Industrial tractors are forecasted to grow at the highest rate, as they help industries comply with environmental regulations and reduce fossil fuel reliance. Battery electric tractors are projected to dominate the propulsion type segment in 2024, due to stringent emission standards and increased demand for zero-emission vehicles. This segment is also expected to grow at the highest CAGR. The 15kW to 40 kW battery capacity segment is anticipated to be the largest in 2024, supported by heavy load applications and favorable policies. The 30HP to 80HP power output segment is expected to grow rapidly, suited for various farming tasks and supported by government incentives. Agriculture is expected to be the largest application segment in 2024, while the factories segment will experience the highest growth rate, driven by government incentives and the integration of precision agriculture technologies. Geographically, Asia-Pacific is projected to lead the market in 2023, with robust government support for electrification. Europe is expected to register the highest CAGR, driven by the adoption of electric mobility and supportive government policies. Key Players The key players operating in the global electric tractors market include Solectrac Inc. (U.S.), Deere & Company (U.S.), Escorts Kubota Limited (India), Alk s.r.l (Italy), Yanmar Holdings Co. Ltd. (Japan), AGCO Corporation (U.S.), CLAAS KGaA mbH (Germany), Mahindra & Mahindra Limited (India), Dongfeng Motor Corporation Ltd. (China), Caterpillar Inc. (U.S.), Cummins Inc. (U.S.), AutoNxt Automation Pvt. Ltd. (India), Motivo Engineering (U.S.), Monarch Tractor (U.S.), Ztractor Inc (U.S.). Download Sample Report Here @ https://www.meticulousresearch.com/download-sample- report/cp_id=5795 Key Questions Answered in the Report: What are the high-growth market segments in terms of type, propulsion type, battery capacity, and application? What is the historical market size for the global electric tractors market? What are the market forecasts and estimates for 2024 2031? What are the major drivers, restraints, opportunities, challenges, and trends in the global electric tractors market? Who are the major players in the global electric tractors market, and what are their market shares? Page 2 of 3 Meticulous Research| sales@meticulousresearch.com
Global Electric Tractors Market 2024-2031 What is the competitive landscape like? What are the recent developments in the global electric tractors market? What are the different strategies adopted by major market players? What are the trends and high-growth countries? Who are the local emerging players in the global electric tractors market, and how do they compete with other players? Contact Us: Meticulous Research Email- sales@meticulousresearch.com Contact Sales- +1-646-781-8004 Connect with us on LinkedIn- https://www.linkedin.com/company/meticulous-research Page 3 of 3 Meticulous Research| sales@meticulousresearch.com
