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.

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 countries
The procurement of farm 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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