Press Releases

The global electric tractor market is expected to witness a CAGR of 2.6% during the forecast period. The global electric tractor market is in the developing stage and is anticipated to grow at a prominent rate during the forecast period 2023-2030 Factors affecting the growth of the electric tractor market are the adoption of smart agricultural products, awareness about smoke-free, sustainable agriculture methods, and initiatives taken by the government. Electric vehicles use clean and green energy and play a major role in decreasing air and noise pollution globally. Nevertheless, automobile manufacturers have made great progress in electric drive technology, and governments around the world have also set goals to phase out fossil-fuel vehicles. This elective-drive revolution is also making breakthroughs in agriculture, and manufacturers have introduced electric tractors to support electrification.

 

The COVID-19 outbreak has adversely affected the global electric tractor market due to strict lockdown, restrictions on global trade, and strict regulations by the government. This had a negative impact on the production and demand, created disruption in the supply chain, and had a financial impact on firms. However, as the government begins to relax restrictions, the electric farm tractor market will begin to flourish in the next few years.  

 

Browse 70 market data Tables and 43 Figures spread through 145 Pages and in-depth TOC on " Electric Tractor Market by Component (Sensors, GPS, Vision System, and Others), by Tractor Type (Light-Duty, Medium-Duty, and Heavy-Duty), by Battery Type (Lead-Acid, Lithium-Ion), by Drivetrain Technology (Hybrid Electric Vehicles (HEV), Battery Electric Vehicles (BEVs), and Plug-In Electric Vehicles (PHEVs), by Application (Agriculture, Construction, Mining & Transportation), and Region - Global Forecast to 2030"

 

By application, agriculture is projected to witness the largest share during the forecast period.

Based on application, the global electric tractor market is categorized into agriculture, construction, and mining & transportation. Electric tractors are efficient in terms of energy consumption and weight power/power density ratio. Moreover, the reduction in the emission of CO2 is an important environmental benefit. Thus to improve work efficiency and reduce fuel consumption results in reducing exhaust emissions from agriculture tractors and are extensively used in are tillage, harvesting, irrigation, seed sowing, spraying, and fertilizing.

 

Global Electric Tractor Market Segmentation Analysis

Segment	Categorization	Leading Category
Component	Sensors, GPS, Vision System, and Others	GPS (High CAGR)
Tractor Type	Light-Duty, Medium-Duty, and Heavy-Duty	Light-Duty (Largest) Medium-Duty (Largest)
Battery-Type	Lead-Acid, Lithium-Ion	Lithium-Ion (Fastest)
Drivetrain Technology	Hybrid Electric Vehicles (HEV), Battery Electric Vehicles (BEVs), and Plug-In Electric Vehicles (PHEVs)	Hybrid Electric Vehicles (Largest)
Application	Agriculture, Construction, Mining & Transportation	Agriculture (Largest)
Region	North America, Europe, Asia-Pacific, and Rest of the World	North-America (Largest) Asia-Pacific (Highest)

 

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“The Asia Pacific to be the fastest-growing region during the forecast period.”

Asia-Pacific is anticipated to be the fastest-growing region during the forecast period owing to the rise in demand for tractors in countries such as China and India. There are many agriculture-dependent economies in the region and initiatives taken by the government will boost the growth of the electric tractor market in the region.

 

Some of the major players in the global electric tractor market include AGCO Corporation, Deere and Company, CLAAS KGaA mbH, Kubota Corporation, Escorts Limited, Caterpillar Inc., Yanmar Co. Ltd., and J.C. Bamford Excavators Ltd. (JCB).

 

Scope of the Report

Report Metric	Details
Market Size Available for the Years in the Study	2018–2030
Historical Period	2018–2022
Base Year	2022
Forecast Period	2023–2030
Segments Covered in the Study	Component, Tractor Type, Battery Type, Drivetrain Technology, Application, and Region
Geographies Covered in the Study	North America (U.S., Canada, Mexico), Europe (Germany, U.K., France, Italy, Spain, Russia), Asia-Pacific (China, Japan, India, South Korea), and Rest of the World (Brazil, Saudi Arabia, South Africa, U.A.E.)
Companies Covered in the Study	AGCO Corporation, Deere and Company, CLAAS KGaA mbH, Kubota Corporation, Escorts Limited, Caterpillar Inc., Yanmar Co. Ltd., and J.C. Bamford Excavators Ltd. (JCB)

 

Global Electric Tractor Market Coverage

Component Insight and Forecast 2018-2030

• Sensors
• GPS
• Vision System
• Others

 

Tractor Type Insight and Forecast 2018-2030

• Light-Duty
• Medium-Duty
• Heavy-Duty

 

Battery Type Insight and Forecast 2018-2030

• Lead-Acid
• Lithium-Ion

 

Drivetrain Technology Insight and Forecast 2018-2030

• Hybrid Electric Vehicles (HEV)
• Battery Electric Vehicles (BEVs)
• Plug-In Electric Vehicles (PHEVs)

 

Application Insight and Forecast 2018-2030

• Agriculture
• Construction
• Mining & Transportation

 

Geographical Segmentation

Electric Tractor Market by Region

North America

• By Component
• By Tractor Type
• By Battery Type
• By Drivetrain Technology
• By Application 
• By Country – U.S., Canada, and Mexico

 

Europe

• By Component
• By Tractor Type
• By Battery Type
• By Drivetrain Technology
• By Application 
• By Country – Germany, U.K., France, Italy, Spain, Russia, and Rest of Europe

 

Asia-Pacific (APAC)

• By Component
• By Tractor Type
• By Battery Type
• By Drivetrain Technology
• By Application 
• By Country – China, Japan, India, South Korea, and Rest of Asia-Pacific

 

Rest of the World (RoW)

• By Component
• By Tractor Type
• By Battery Type
• By Drivetrain Technology
• By Application 
• By Country – Brazil, Saudi Arabia, South Africa, U.A.E., and Other Countries