MarkNtel Advisors recently published a report, titled, ” Global Electric Farm Tractor Market By Tractor Type (Light, Medium Duty, Heavy Duty), By Drive Type (Two-Wheel, Four-Wheel), By Mode of Operation (Manual, Autonomous), By Battery Type (Lead Acid Battery, Lithium-Ion Battery), Other. As per as the report The Global Electric Farm Tractor Market Analysis, 2021,” the market is likely to grow at a CAGR of around 5.7% during 2021-26.
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Market Driver
Burgeoning Demand for Electric Tractors Boost the Market Growth –The demand for electric farm tractors is significantly increasing as it is beneficial for reducing fuel costs, mitigates carbon emissions, and escalates using energy sources efficiently. In addition to this, to ensure the vehicle’s reliability, the use of electric farm tractors is increasing significantly. Further, the introduction of advanced technologies and the rising adoption of these technologies into the automotive industry are other critical aspects likely to provide lucrative opportunities to drive market growth.
Leading Companies in Global Electric Farm Tractor Market:
John Deere, Alke, Escorts Limited, Motivo Engineering, Monarch Tractor, Mahindra and Mahindra, Solectrac, Fendt, Kubota Corporation.
Global Electric Farm Tractor Market Segmentation:
By Tractor Type
-Light
-Medium Duty
-Heavy Duty
By Drive Type
-Two-Wheel
-Four-Wheel
By Mode of Operation
-Manual
-Autonomous
By Battery Type
-Lead Acid Battery
-Lithium Ion Battery
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By Region
-North America
-South America
-Europe
-Asia Pacific
-Middle East and Africa.
Geographically, the Asia Pacific region held the largest share in the Global Electric Farm Tractor Market in the past few years due to the surging demand for tractors in countries like China and India.
Key questions answered in the Global Electric Farm Tractor Market are:
•What is Global Electric Farm Tractor Market?
•What was the market size in 2023?
•What is the growth rate of the Global Electric Farm Tractor Market?
•Which are the factors expected to drive the market growth?
•What are the different segments of the Global Electric Farm Tractor Market?
•What segments are covered in the Market?
•Who are the key players in the Global Electric Farm Tractor Market?
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