조사회사 : MarketsandMarkets (마켓츠앤마켓츠) 출판년월 : 2024년03월
Electric Tractor Market – Global Forecast to 2030
전동 트랙터 시장 : 추진력(배터리, 하이브리드 및 수소), 용량(<50, 51–100 & >100kWh), 화학 조성(인산철 리튬 이온 & 삼원계 양극재), 하이브리드 트랙터(<50, 51 –100 & >100HP), 기능(농업, 유틸리티 및 산업), 지역별 – 2030년까지의 세계 예측
Electric Tractor Market by Propulsion (Battery, Hybrid & Hydrogen), Capacity (<50, 51–100 & >100kWh), Chemistry (LFP & NMC), Hybrid Tractor (<50, 51–100 & >100HP), Function (Agriculture, Utility & Industrial) and Region – Global Forecast to 2030
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Report Overview
The electric tractor market is estimated to grow from USD 0.7 billion in 2024 to USD 3.4 billion by 2030, at a CAGR of 28.3%.
전동 트랙터 시장은 2024년 7억 달러에서 2030년 34억 달러로 연평균 성장률(CAGR) 28.3%로 성장할 것으로 예상됩니다.
The increasing demand for precision agriculture, stringent emission norms and regulations, development in battery technology, and customized electric tractors used in greenhouses, vineyards, & dairy applications will drive the electric tractors market in coming years. In addition, OEMs are showcasing their prototypes for hybrid, hydrogen, and electric tractors, creating a lucrative environment for the widespread adoption of electric tractors globally.
“The 51–100 HP hybrid electric tractor segment would be the fastest-growing market.”
Hybrid tractors with 51-100 HP power output have a wide range of offerings, efficiency, and versatility, which makes them ideal for small to medium-sized farms and diverse agricultural tasks. These hybrids integrate diesel engines with electric power systems, reducing fuel consumption and emissions while maintaining performance. Hybrid tractors are commonly used in the Americas and Europe to cater to mixed farming and livestock operations, aligning with sustainability goals and regulatory requirements. Mixed farming involves various tasks such as fieldwork, planting, harvesting, and livestock management, where 51-100 HP hybrid tractors offer the versatility needed to perform these tasks efficiently, making them ideal for mixed farming operations where flexibility is essential.
Mixed farming is widespread in North America, particularly in regions with a temperate climate conducive to crop cultivation and livestock grazing. States like Lowa, Nebraska, & Kansas, known for their corn and soybean production alongside beef and dairy farming, are prime markets for 51-100 HP hybrid tractors. Also, some European countries, like France, Germany, and the UK, have a long history of mixed farming practices. Europe also has some major vital players who are into manufacturing hybrid tractors named Landini, AUGA, Steyr, Antonio Carraro, HAV, and International Tractors Limited, who are continuously innovating and introducing advanced hybrid tractors tailored to the needs of European farmers. For instance, companies like Antonio Carraro launched the TTR 7600 Infinity, a wide-track, reversible drive tractor with a hybrid mechanical-hydrostatic transmission. It has a 75 HP Kohler turbo STAGE 5, 4-cylinder engine, 16V, and 2482 cc. Also, Landini showcased the REX4 Electra at EIMA 2021 in October 2021. This hybrid electric tractor had a nominal output of 50kW (67HP). Adding further, an Indian company named HAV also launched its three models, S1 Series 45, S1 Series 50, and S1 Series 55, hybrid electric tractors in August 2021. This vehicle reduces emissions to some extent and increases fuel efficiency.
Moreover, advancements in battery technology and electric drivetrain systems drive the growth of hybrid electric tractors in this segment. These examples showcase the growing interest and investment in hybrid electric tractor technology, paving the way for a more sustainable future in agriculture.
“<50 kWh battery capacity segment holds the second largest market in the electric tractor market.”
Electric tractors with battery capacities below 50 kWh are often designed for light to moderate-duty applications, such as landscaping, small-scale farming, and specialty crop production. These tractors are typically used on smaller farms, orchards, vineyards, and urban agriculture settings where compact size and maneuverability are prioritized. While they have limited range and power compared to larger models, they offer agility and ease of use. Furthermore, electric tractors in this battery capacity range often come at a lower price, making them more accessible to small-scale farmers.
India, China, and the US hold smaller farming lands, which have a significant demand for compact and affordable agricultural machinery tailored to the needs of small-scale farmers. <50 kWh electric tractors offer an ideal solution, providing maneuverability and lower upfront costs compared to larger models, thus aligning well with the scale and requirements of smallholder operations. OEMS from this region have launched some electric tractor models. For instance, Escot Kubota launched FT25G, a 25 HP electric tractor for small farms, in August 2020. Solectrac e25G Gear, a 25HP electric tractor, offers versatility and eco-friendliness at an accessible price point and power.
The infrastructure for fast-charging high-capacity batteries in rural areas, where these tractors are primarily used, still needs to be improved. Smaller batteries can be charged using existing infrastructure, making them a more feasible option in the current landscape. Hence, the <51 kWh battery capacity segment in electric tractors will rapidly expand due to its optimal power range, technological advancements, and supportive regulatory environment.
“Asia Pacific is the second largest electric tractor market globally.”
The Asia Pacific region is emerging as a significant driver of the electric tractor market, fueled by several factors. Firstly, the region’s rapidly expanding agricultural sector, particularly in countries like India and China, presents a substantial market opportunity for electric tractors. Moreover, government initiatives and policies aimed at promoting electric vehicles and reducing carbon emissions are providing a significant impetus to the electric tractor market in the Asia Pacific region. Countries like India and China will start giving subsidies, incentives, and tax breaks in coming years to encourage the electric tractors. .
China has also witnessed a surge in electric tractor production, with several domestic manufacturers entering the market. Companies like YTO Group and Foton Lovol are developing and launching new electric tractor models. Some recent developments in the Asia Pacific region for electric and hydrogen tractors showcase the exploration of hydrogen fuel cell technology from key players in the Asia Pacific region. For instance, TAFE, an Indian tractor manufacturer, unveiled a concept hydrogen tractor at the Agritechnica trade fair in 2023, held in Hannover, Germany. This tractor is still in the early stages of development. Still, it highlights the growing interest in hydrogen-powered agricultural equipment and showcases the potential to reduce emissions in the farming sector. Also, Chinese companies like Sinohytec and Weichai Power are developing and testing hydrogen tractor prototypes.
Moreover, Jiangsu Yueda Intelligent Agricultural Equipment Co, Ltd also showcased their electric tractor model YL254-ET, a battery electric tractor priced around USD 13,000 – 14,000. Kubota Corporation (Japan) has also released a prototype of a fuel cell tractor in 2023 and launch the world’s first hydrogen-powered fuel cell tractor in 2025. The medium to large tractors will have 50 to 100 horsepower. Some of the primary industry players from the Asia-Pacific region include Yanmar Holdings Co. Ltd, YTO Group, Kubota Corporation, TAFE, ITL, Sonalika, HAV, and AutoNXT Automation Pvt Ltd. Overall, the Asia-Pacific region presents a promising future for the electric tractor market due to a combination of growing demand, supportive government policies and increasing awareness of sustainable practices. However, overcoming challenges like affordability and infrastructure development will be vital for widespread adoption in the region.
The break-up of the profile of primary participants in the automotive smart antenna market:
By Companies: OEMs – 80%, Tier 1 – 20%
By Designation: Directors- 20%, C-Level Executives – 50%, Manager level – 30%
By Region: North America – 20%, Europe – 30%, APAC – 40%, and Rest of the World – 10%
Global players dominate the electric tractor market and comprise several regional players. The key players in the electric tractor market are Kubota Corporation (Japan), Solectrac (US), AGCO Corporation (US), CNH Industries NV (Netherlands), and Escorts Kubota Limited (India).
Research Coverage:
The Electric tractor market by Propulsion (Battery Electric, Hybrid Electric, Hydrogen), By Battery Chemistry (Lithium Iron Phosphate (LFP), Lithium nickel manganese cobalt oxides (LI-NMC), Others), Hybrid Electric Tractor Market, By Power Output (<50 HP, 51-100 HP, and >100 HP), By Battery Capacity (<50 KWh, 51-100 KWh, and >100 KWh), By Function (Agriculture & Forestry, Utility, and Industrial), By Region (Asia Pacific, Europe, and Americas).
The report’s scope covers detailed information regarding the major factors influencing the growth of the electric tractor market. A detailed analysis of the key industry players has provided insights into their business overview, products, key strategies, contracts, partnerships, agreements, new product launches, mergers and acquisitions, recession impact, and recent electric tractor market developments.
Key Benefits of Buying the Report:
The report will help the market leaders/new entrants with information on the closest approximations of the revenue numbers for the overall electric tractor market and the sub-segments. This report will help stakeholders understand the competitive landscape and gain insights to position their businesses better and plan suitable go-to-market strategies. The report also helps stakeholders understand the market pulse and provides information on key market drivers, restraints, challenges, and opportunities.
The report provides insights on the following pointers:
• Analysis of key drivers (Government stringent emission norms and regulations, and Incentives on EV tractors and finance credits), restraints (Technological and operational challenges), opportunities (Emergence of hydrogen fuel-powered electric tractors, integration of OEMs with battery manufacturers, and use of electric tractors in the greenhouse), and challenges (High cost of electric tractors) influencing the growth of the electric tractor market.
• Product Development/Innovation: Detailed insights on upcoming technologies and new products launched in the electric tractor market.
• Market Development: Comprehensive market information – the report analyses the authentication and brand protection market across varied regions.
• Market Diversification: Exhaustive information about new products & services, untapped geographies, recent developments, and investments in the electric tractor market.
• Competitive Assessment: In-depth assessment of market shares, growth strategies, and service offerings of leading players like Kubota Corporation (Japan), Solectrac (US), AGCO Corporation (US), CNH Industries NV (Netherlands), and Escorts Kubota Limited (India) among others in the electric tractor market.
Table of Contents
1 INTRODUCTION 24
1.1 STUDY OBJECTIVES 24
1.2 MARKET DEFINITION 24
1.2.1 INCLUSIONS AND EXCLUSIONS 25
TABLE 1 INCLUSIONS AND EXCLUSIONS 25
1.3 STUDY SCOPE 25
FIGURE 1 MARKET SEGMENTATION 25
1.3.1 REGIONS COVERED 26
1.3.2 YEARS CONSIDERED 26
1.4 CURRENCY CONSIDERED 26
TABLE 2 CURRENCY EXCHANGE RATES 27
1.5 UNIT CONSIDERED 27
1.6 STAKEHOLDERS 27
2 RESEARCH METHODOLOGY 28
2.1 RESEARCH DATA 28
FIGURE 2 RESEARCH DESIGN 28
FIGURE 3 RESEARCH PROCESS FLOW 29
2.2 SECONDARY DATA 29
2.2.1 SECONDARY SOURCES REFERRED TO FOR ESTIMATING ELECTRIC TRACTOR SALES 30
2.2.2 KEY DATA FROM SECONDARY SOURCES 31
2.3 PRIMARY DATA 32
FIGURE 4 BREAKDOWN OF PRIMARY INTERVIEWS 32
2.3.1 SAMPLING TECHNIQUES AND DATA COLLECTION METHODS 33
2.3.1.1 Primary participants 33
2.4 MARKET SIZE ESTIMATION 34
FIGURE 5 HYPOTHESIS BUILDING 34
2.4.1 BOTTOM-UP APPROACH 35
FIGURE 6 BOTTOM-UP APPROACH 35
2.4.2 TOP-DOWN APPROACH 36
FIGURE 7 TOP-DOWN APPROACH 36
2.5 FACTOR ANALYSIS 36
2.6 RECESSION IMPACT ANALYSIS 37
2.7 DATA TRIANGULATION 38
FIGURE 8 DATA TRIANGULATION 38
2.8 RESEARCH ASSUMPTIONS AND RISK ASSESSMENT 39
TABLE 3 RESEARCH ASSUMPTIONS AND RISK ASSESSMENT 39
2.9 RESEARCH LIMITATIONS 40
3 EXECUTIVE SUMMARY 41
3.1 REPORT SUMMARY 41
3.2 INTRODUCTION 41
FIGURE 9 EUROPE TO HOLD LARGEST MARKET SHARE FOR ELECTRIC TRACTORS DURING FORECAST PERIOD 43
4 PREMIUM INSIGHTS 44
4.1 ATTRACTIVE OPPORTUNITIES FOR PLAYERS IN ELECTRIC TRACTOR MARKET 44
FIGURE 10 ADVANCEMENTS IN BATTERY TECHNOLOGY TO DRIVE MARKET 44
4.2 ELECTRIC TRACTOR MARKET, BY PROPULSION 44
FIGURE 11 BATTERY ELECTRIC SEGMENT TO ACQUIRE MAXIMUM MARKET SHARE IN 2030 44
4.3 ELECTRIC TRACTOR MARKET, BY BATTERY CAPACITY 45
FIGURE 12 51–100 KWH TO BE LARGEST SEGMENT DURING FORECAST PERIOD 45
4.4 ELECTRIC TRACTOR MARKET, BY BATTERY CHEMISTRY 45
FIGURE 13 LITHIUM IRON PHOSPHATE TO SURPASS OTHER SEGMENTS DURING FORECAST PERIOD 45
4.5 ELECTRIC TRACTOR MARKET, BY FUNCTION 46
FIGURE 14 AGRICULTURE & FORESTRY TO SECURE LEADING MARKET POSITION DURING FORECAST PERIOD 46
4.6 HYBRID ELECTRIC TRACTOR MARKET, BY POWER OUTPUT 46
FIGURE 15 51–100 HP TO HOLD LARGEST MARKET SHARE IN 2030 46
4.7 ELECTRIC TRACTOR MARKET, BY REGION 47
FIGURE 16 EUROPE TO BE LARGEST MARKET FOR ELECTRIC TRACTORS DURING FORECAST PERIOD 47
5 MARKET OVERVIEW 48
5.1 INTRODUCTION 48
5.2 MARKET DYNAMICS 49
FIGURE 17 DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES 49
5.2.1 DRIVERS 49
5.2.1.1 Stringent emission norms and regulations 49
FIGURE 18 NON-ROAD MOBILE MACHINERY (NRMM) EMISSION REGULATION OUTLOOK, 2019–2030 50
TABLE 4 BHARAT STAGE IV VS. BHARAT STAGE V REGULATIONS FOR PM LIMITS 50
TABLE 5 BHARAT STAGE IV VS. BHARAT STAGE V REGULATIONS FOR PN LIMITS 51
TABLE 6 NOX AND PM SAVINGS IN INDIA, BY EQUIPMENT TYPE, 2020–2045 (KILOTON) 51
TABLE 7 EURO STAGE IV, V, AND VI REGULATIONS FOR HEAVY-DUTY DIESEL ENGINES (G/KWH) 51
5.2.1.2 Incentives on electric tractors and finance credits 52
TABLE 8 INCENTIVES AND SUBSIDIES BY KEY COUNTRIES 52
FIGURE 19 GOVERNMENT INCENTIVES AND POLICIES CLOSING PRICE GAP BETWEEN ELECTRIC AND DIESEL TRACTORS 53
5.2.2 RESTRAINTS 54
5.2.2.1 Technological and operational issues 54
5.2.3 OPPORTUNITIES 55
5.2.3.1 Emergence of hydrogen fuel-powered electric tractors 55
TABLE 9 COMPARISON BETWEEN DIESEL, ELECTRIC, AND FCE TRACTORS 55
TABLE 10 RECENT DEVELOPMENTS RELATED TO HYDROGEN MANUFACTURING 56
5.2.3.2 Integration of OEMs with battery manufacturers 57
TABLE 11 TOP BATTERY MANUFACTURERS SUPPLYING BATTERIES TO OEMS 57
5.2.3.3 Use of electric tractors in greenhouse 57
TABLE 12 GREENHOUSE EMISSION REGULATIONS 58
5.2.4 CHALLENGES 58
5.2.4.1 High cost of electric tractors 58
TABLE 13 COST COMPARISON OF DIESEL AND ELECTRIC TRACTORS OVER TCO OF 5 YEARS IN INDIA 59
TABLE 14 PRICE COMPARISON OF DIESEL AND ELECTRIC TRACTORS 59
5.3 TRENDS AND DISRUPTIONS IMPACTING CUSTOMER BUSINESS 60
FIGURE 20 TRENDS AND DISRUPTIONS IMPACTING CUSTOMER BUSINESS 60
5.4 SUPPLY CHAIN ANALYSIS 61
FIGURE 21 SUPPLY CHAIN ANALYSIS 62
TABLE 15 ROLE OF COMPANIES IN SUPPLY CHAIN 63
5.5 PRICING ANALYSIS 64
5.5.1 BY BATTERY CHEMISTRY 64
TABLE 16 AVERAGE SELLING PRICE TREND OF ELECTRIC TRACTORS, BY BATTERY CAPACITY, 2021–2023 (USD) 64
5.5.2 BY REGION 65
TABLE 17 AVERAGE SELLING PRICE TREND OF ELECTRIC TRACTORS, BY REGION, 2021–2023 (USD) 65
5.6 CASE STUDY ANALYSIS 65
5.6.1 SOLECTRAC’S SOLUTIONS FOR MUSHROOM FARMS 65
5.6.2 ELECTRIC TRACTORS FOR SUSTAINABLE AGRICULTURAL PRACTICE BY AGRIMACS INC. 65
5.6.3 CALIFORNIA GOVERNMENT FOCUSES ON FARMS TO GO GREEN WITH ZERO EMISSIONS 66
5.6.4 MONARCH TRACTORS SAVES USD 2,600 PER YEAR FOR WENTE VINEYARDS 67
5.6.5 PACIFIC NORTHWEST ELECTRIC TRACTOR BARRIERS STUDY 67
5.6.6 CHALLENGES RELATED TO AUTOMATION AND ELECTRIFICATION OF TRACTORS ADDRESSED BY DR. JIANFENG ZHOU 68
5.7 PATENT ANALYSIS 69
TABLE 18 INNOVATIONS AND PATENTS, 2021–2024 69
5.8 TRADE ANALYSIS 73
5.8.1 IMPORT DATA 73
TABLE 19 US: IMPORT DATA, BY COUNTRY (%) 73
TABLE 20 FRANCE: IMPORT DATA, BY COUNTRY (%) 73
TABLE 21 GERMANY: IMPORT DATA, BY COUNTRY (%) 73
TABLE 22 CANADA: IMPORT DATA, BY COUNTRY (%) 74
TABLE 23 UK: IMPORT DATA, BY COUNTRY (%) 74
TABLE 24 POLAND: IMPORT DATA, BY COUNTRY (%) 74
5.8.2 EXPORT DATA 75
TABLE 25 ITALY: EXPORT DATA, BY COUNTRY (%) 75
TABLE 26 FRANCE: EXPORT DATA, BY COUNTRY (%) 75
TABLE 27 NETHERLANDS: EXPORT DATA, BY COUNTRY (%) 75
TABLE 28 CANADA: EXPORT DATA, BY COUNTRY (%) 76
TABLE 29 CHINA: EXPORT DATA, BY COUNTRY (%) 76
5.9 TECHNOLOGY ANALYSIS 76
5.9.1 AUTONOMOUS AND SEMI-AUTONOMOUS DRIVING 76
TABLE 30 PRODUCTS LAUNCHED BY CRITICAL PLAYERS FOR AUTONOMOUS AND SEMI-AUTONOMOUS ELECTRIC TRACTORS 77
5.9.2 PRECISION AGRICULTURE 77
FIGURE 22 PRECISION FARMING ADOPTION DATA OF US FARMERS WITH INCREASING YIELD, 1996–2019 78
5.9.3 TELEMATICS AND REMOTE MONITORING 79
5.9.4 FUTURE BATTERY CHEMISTRY 80
FIGURE 23 COMPARISON OF SOLID-STATE VS. LITHIUM-IRON BATTERIES 80
5.9.5 H2ICE AS FUEL 81
5.9.6 BATTERY SWAPPING TECHNOLOGY 81
5.10 ECOSYSTEM MAPPING 82
FIGURE 24 OFF-HIGHWAY VEHICLE MARKET: ECOSYSTEM MAPPING 82
FIGURE 25 KEY PLAYERS IN ECOSYSTEM 83
5.11 REGULATORY LANDSCAPE 84
TABLE 31 REGULATION STANDARDS SET FOR ELECTRIC TRACTORS, BY REGION/COUNTRY 84
5.11.1 REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS 85
5.11.1.1 North America 85
TABLE 32 NORTH AMERICA: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS 85
5.11.1.2 Europe 85
TABLE 33 EUROPE: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS 85
5.11.1.3 Asia Pacific 86
TABLE 34 ASIA PACIFIC: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS 86
5.12 KEY STAKEHOLDERS AND BUYING CRITERIA 86
5.12.1 BUYING CRITERIA 86
FIGURE 26 KEY BUYING CRITERIA FOR ELECTRIC TRACTORS 86
TABLE 35 KEY BUYING CRITERIA FOR TRACTORS 88
5.12.2 KEY STAKEHOLDERS 89
TABLE 36 INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS OF TRACTORS 89
5.13 KEY CONFERENCES AND EVENTS 89
TABLE 37 KEY CONFERENCES AND EVENTS, 2024–2025 89
5.14 BATTERY TECHNOLOGY 90
5.14.1 BATTERY RANGE VS. UNLADEN MASS 90
TABLE 38 ELECTRIC TRACTOR MODEL WITH VEHICLE RANGE VS. UNLADEN MASS 91
5.14.2 BATTERY RANGE VS. BATTERY TEMPERATURE 91
FIGURE 27 BATTERY DISCHARGE TEMPERATURE 92
5.14.3 BATTERY DENSITY VS. BATTERY CHEMISTRY 92
TABLE 39 BATTERY CHEMISTRIES FOR HDV APPLICATIONS (TRACTORS) 92
5.14.4 BATTERY CHARGING POWER VS. BATTERY RANGE 93
TABLE 40 TRACTOR MODELS WITH THEIR BATTERY CHARGER CAPACITIES AND BATTERY RANGES 93
5.15 TOTAL COST OF OWNERSHIP 94
FIGURE 28 TOTAL COST OF OWNERSHIP: ELECTRIC AND DIESEL TRACTORS 94
5.16 INVESTMENT AND FUNDING SCENARIO 95
FIGURE 29 INVESTMENT SCENARIO, 2020–2024 96
TABLE 41 LIST OF FUNDING IN 2021-2024 96
5.17 POWER TAKE-OFF (PTO) 96
TABLE 42 ELECTRIC TRACTOR MODELS WITH PTO OFFERINGS 97
6 ELECTRIC TRACTOR MARKET, BY PROPULSION 98
6.1 INTRODUCTION 99
FIGURE 30 ELECTRIC TRACTOR MARKET, BY PROPULSION, 2024 VS. 2030 (USD MILLION) 99
TABLE 43 ELECTRIC TRACTOR MARKET, BY PROPULSION, 2021–2023 (UNITS) 99
TABLE 44 ELECTRIC TRACTOR MARKET, BY PROPULSION, 2024–2030 (UNITS) 100
TABLE 45 ELECTRIC TRACTOR MARKET, BY PROPULSION, 2021–2023 (USD MILLION) 100
TABLE 46 ELECTRIC TRACTOR MARKET, BY PROPULSION, 2024–2030 (USD MILLION) 100
6.2 BATTERY ELECTRIC 101
6.2.1 REDUCING BATTERY MANUFACTURING COSTS TO DRIVE MARKET 101
FIGURE 31 AVERAGE GLOBAL PACK AND CELL PRICE, PER KWH, 2013–2023 101
TABLE 47 BATTERY ELECTRIC TRACTOR SPECIFICATION WITH MOTOR AND BATTERY CAPACITIES 102
TABLE 48 BATTERY ELECTRIC TRACTOR MARKET, BY REGION, 2021–2023 (UNITS) 102
TABLE 49 BATTERY ELECTRIC TRACTOR MARKET, BY REGION, 2024–2030 (UNITS) 102
TABLE 50 BATTERY ELECTRIC TRACTOR MARKET, BY REGION, 2021–2023 (USD MILLION) 103
TABLE 51 BATTERY ELECTRIC TRACTOR MARKET, BY REGION, 2024–2030 (USD MILLION) 103
6.3 HYBRID ELECTRIC 103
6.3.1 HIGHER POWER OUTPUT THAN BATTERY ELECTRIC TRACTORS TO DRIVE MARKET 103
TABLE 52 HYBRID ELECTRIC TRACTOR SPECIFICATIONS WITH THEIR MOTOR AND ENGINE CAPACITIES 104
TABLE 53 HYBRID ELECTRIC TRACTOR MARKET, BY REGION, 2021–2023 (UNITS) 104
TABLE 54 HYBRID ELECTRIC TRACTOR MARKET, BY REGION, 2024–2030 (UNITS) 105
TABLE 55 HYBRID ELECTRIC TRACTOR MARKET, BY REGION, 2021–2023 (USD MILLION) 105
TABLE 56 HYBRID ELECTRIC TRACTOR MARKET, BY REGION, 2024–2030 (USD MILLION) 105
6.4 HYDROGEN 106
6.4.1 ADVANCEMENTS IN FUEL CELL TECHNOLOGY AND INFRASTRUCTURE TO DRIVE MARKET 106
TABLE 57 HYDROGEN ELECTRIC TRACTOR MARKET, BY REGION, 2024–2030 (UNITS) 106
TABLE 58 HYDROGEN ELECTRIC TRACTOR MARKET, BY REGION, 2024–2030 (USD MILLION) 106
6.5 PRIMARY INSIGHTS 107
7 ELECTRIC TRACTOR MARKET, BY BATTERY CHEMISTRY 108
7.1 INTRODUCTION 109
FIGURE 32 ELECTRIC TRACTOR MARKET, BY BATTERY CHEMISTRY, 2024 VS. 2030 (USD MILLION) 109
TABLE 59 ELECTRIC TRACTOR MARKET, BY BATTERY CHEMISTRY, 2021–2023 (UNITS) 110
TABLE 60 ELECTRIC TRACTOR MARKET, BY BATTERY CHEMISTRY, 2024–2030 (UNITS) 110
TABLE 61 ELECTRIC TRACTOR MARKET, BY BATTERY CHEMISTRY, 2021–2023 (USD MILLION) 110
TABLE 62 ELECTRIC TRACTOR MARKET, BY BATTERY CHEMISTRY, 2024–2030 (USD MILLION) 110
7.2 LITHIUM IRON PHOSPHATE (LFP) 111
7.2.1 INCREASING APPLICATION IN SMALL FARMLANDS TO DRIVE MARKET 111
TABLE 63 LITHIUM IRON PHOSPHATE: ELECTRIC TRACTOR MARKET, BY REGION, 2021–2023 (UNITS) 111
TABLE 64 LITHIUM IRON PHOSPHATE: ELECTRIC TRACTOR MARKET, BY REGION, 2024–2030 (UNITS) 112
TABLE 65 LITHIUM IRON PHOSPHATE: ELECTRIC TRACTOR MARKET, BY REGION, 2021–2023 (USD MILLION) 112
TABLE 66 LITHIUM IRON PHOSPHATE: ELECTRIC TRACTOR MARKET, BY REGION, 2024–2030 (USD MILLION) 112
7.3 LITHIUM NICKEL MANGANESE COBALT OXIDE (LI-NMC) 113
7.3.1 AFFORDABILITY, HIGH DENSITY, AND FAST CHARGING CAPABILITY TO DRIVE MARKET 113
FIGURE 33 CHARACTERISTICS OF LI-NMC BATTERIES 113
TABLE 67 LITHIUM NICKEL MANGANESE COBALT OXIDE: ELECTRIC TRACTOR MARKET, BY REGION, 2021–2023 (UNITS) 114
TABLE 68 LITHIUM NICKEL MANGANESE COBALT OXIDE: ELECTRIC TRACTOR MARKET, BY REGION, 2024–2030 (UNITS) 114
TABLE 69 LITHIUM NICKEL MANGANESE COBALT OXIDE: ELECTRIC TRACTOR MARKET, BY REGION, 2021–2023 (USD MILLION) 114
TABLE 70 LITHIUM NICKEL MANGANESE COBALT OXIDE: ELECTRIC TRACTOR MARKET, BY REGION, 2024–2030 (USD MILLION) 114
7.4 OTHERS 115
7.4.1 SODIUM-ION BATTERIES 115
TABLE 71 SODIUM-ION BATTERY VS. LITHIUM IRON PHOSPHATE BATTERY 116
7.4.2 SOLID-STATE BATTERIES 116
TABLE 72 OTHERS: ELECTRIC TRACTOR MARKET, BY REGION, 2024–2030 (UNITS) 116
TABLE 73 OTHERS: ELECTRIC TRACTOR MARKET, BY REGION, 2024–2030 (USD MILLION) 117
7.5 PRIMARY INSIGHTS 117
8 ELECTRIC TRACTOR MARKET, BY BATTERY CAPACITY 118
8.1 INTRODUCTION 119
8.2 ELECTRIC TRACTOR MODELS AND BATTERY CAPACITIES 119
TABLE 74 ELECTRIC TRACTOR MODELS AND BATTERY CAPACITIES, BY OEM 119
FIGURE 34 ELECTRIC TRACTOR MARKET, BY BATTERY CAPACITY, 2024 VS. 2030 (USD MILLION) 120
TABLE 75 ELECTRIC TRACTOR MARKET, BY BATTERY CAPACITY, 2021–2023 (UNITS) 120
TABLE 76 ELECTRIC TRACTOR MARKET, BY BATTERY CAPACITY, 2024–2030 (UNITS) 120
TABLE 77 ELECTRIC TRACTOR MARKET, BY BATTERY CAPACITY, 2021–2023 (USD MILLION) 121
TABLE 78 ELECTRIC TRACTOR MARKET, BY BATTERY CAPACITY, 2024–2030 (USD MILLION) 121
8.3 <50 KWH 121
8.3.1 MODERATE-DUTY APPLICATIONS AND SMALL FARMING NEEDS TO DRIVE MARKET 121
TABLE 79 <50 KWH BATTERY CAPACITY: ELECTRIC TRACTOR MARKET, BY REGION, 2021–2023 (UNITS) 122
TABLE 80 <50 KWH BATTERY CAPACITY: ELECTRIC TRACTOR MARKET, BY REGION, 2024–2030 (UNITS) 122
TABLE 81 <50 KWH BATTERY CAPACITY: ELECTRIC TRACTOR MARKET, BY REGION, 2021–2023 (USD MILLION) 122
TABLE 82 <50 KWH BATTERY CAPACITY: ELECTRIC TRACTOR MARKET, BY REGION, 2024–2030 (USD MILLION) 122
8.4 51–100 KWH 123
8.4.1 MEDIUM-SIZED AND MIXED FARMING OPERATIONS TO DRIVE MARKET 123
TABLE 83 51–100 KWH BATTERY CAPACITY: ELECTRIC TRACTOR MARKET, BY REGION, 2021–2023 (UNITS) 123
TABLE 84 51–100 KWH BATTERY CAPACITY: ELECTRIC TRACTOR MARKET, BY REGION, 2024–2030 (UNITS) 124
TABLE 85 51–100 KWH BATTERY CAPACITY: ELECTRIC TRACTOR MARKET, BY REGION, 2021–2023 (USD MILLION) 124
TABLE 86 51–100 KWH BATTERY CAPACITY: ELECTRIC TRACTOR MARKET, BY REGION, 2024–2030 (USD MILLION) 124
8.5 >100 KWH 125
8.5.1 HEAVY MACHINERY AND EQUIPMENT FOR MULTI-TASKING TO DRIVE MARKET 125
TABLE 87 >100 KWH BATTERY CAPACITY: ELECTRIC TRACTOR MARKET, BY REGION, 2024–2030 (UNITS) 125
TABLE 88 >100 KWH BATTERY CAPACITY: ELECTRIC TRACTOR MARKET, BY REGION, 2024–2030 (USD MILLION) 126
8.6 PRIMARY INSIGHTS 126
9 HYBRID ELECTRIC TRACTOR MARKET, BY POWER OUTPUT 127
9.1 INTRODUCTION 128
FIGURE 35 HYBRID ELECTRIC TRACTOR MARKET, 2024 VS. 2030 (USD MILLION) 128
TABLE 89 HYBRID ELECTRIC TRACTOR MARKET, BY POWER OUTPUT, 2021–2023 (UNITS) 129
TABLE 90 HYBRID ELECTRIC TRACTOR MARKET, BY POWER OUTPUT, 2024–2030 (UNITS) 129
TABLE 91 HYBRID ELECTRIC TRACTOR MARKET, BY POWER OUTPUT, 2021–2023 (USD MILLION) 129
TABLE 92 HYBRID ELECTRIC TRACTOR MARKET, BY POWER OUTPUT, 2024–2030 (USD MILLION) 129
9.2 <50 HP 130
9.2.1 INCREASING DEMAND FOR COMPACT AND MANEUVERABLE TRACTORS TO DRIVE MARKET 130
TABLE 93 SPECIFICATIONS OF HYBRID TRACTORS AVAILABLE IN MARKET 130
TABLE 94 <50HP: HYBRID ELECTRIC TRACTOR MARKET, BY REGION, 2021–2023 (UNITS) 131
TABLE 95 <50HP: HYBRID ELECTRIC TRACTOR MARKET, BY REGION, 2024–2030 (UNITS) 131
TABLE 96 <50HP: HYBRID ELECTRIC TRACTOR MARKET, BY REGION, 2021–2023 (USD MILLION) 131
TABLE 97 <50HP: HYBRID ELECTRIC TRACTOR MARKET, BY REGION, 2024–2030 (USD MILLION) 131
9.3 51–100 HP 132
9.3.1 MIXED FARMING AND PRECISION FARMING TO DRIVE MARKET 132
TABLE 98 51–100 HP: HYBRID ELECTRIC TRACTOR MARKET, BY REGION, 2021–2023 (UNITS) 132
TABLE 99 51–100 HP: HYBRID ELECTRIC TRACTOR MARKET, BY REGION, 2024–2030 (UNITS) 133
TABLE 100 51–100 HP: HYBRID ELECTRIC TRACTOR MARKET, BY REGION, 2021–2023 (USD MILLION) 133
TABLE 101 51–100 HP: HYBRID ELECTRIC TRACTOR MARKET, BY REGION, 2024–2030 (USD MILLION) 133
9.4 >100 HP 134
9.4.1 STRINGENT EMISSION REGULATIONS AND GOVERNMENT INCENTIVES TO DRIVE MARKET 134
TABLE 102 >100 HP: HYBRID ELECTRIC TRACTOR MARKET, BY REGION, 2021–2023 (UNITS) 134
TABLE 103 >100 HP: HYBRID ELECTRIC TRACTOR MARKET, BY REGION, 2024–2030 (UNITS) 134
TABLE 104 >100 HP: HYBRID ELECTRIC TRACTOR MARKET, BY REGION, 2021–2023 (USD MILLION) 135
TABLE 105 >100 HP: HYBRID ELECTRIC TRACTOR MARKET, BY REGION, 2024–2030 (USD MILLION) 135
9.5 PRIMARY INSIGHTS 135
10 ELECTRIC TRACTOR MARKET, BY FUNCTION 136
10.1 INTRODUCTION 137
FIGURE 36 ELECTRIC TRACTOR MARKET, BY FUNCTION, 2024 VS. 2030 (USD MILLION) 137
TABLE 106 ELECTRIC TRACTOR MARKET, BY FUNCTION, 2021–2023 (USD MILLION) 137
TABLE 107 ELECTRIC TRACTOR MARKET, BY FUNCTION, 2024–2030 (USD MILLION) 138
10.2 AGRICULTURE & FORESTRY 138
10.2.1 INCREASE IN FOOD PRODUCTION AND PRECISION AGRICULTURE TO DRIVE MARKET 138
TABLE 108 AGRICULTURE & FORESTRY: ELECTRIC TRACTOR MARKET, BY REGION, 2021–2023 (USD MILLION) 139
TABLE 109 AGRICULTURE & FORESTRY: ELECTRIC TRACTOR MARKET, BY REGION, 2024–2030 (USD MILLION) 139
10.3 UTILITY 139
10.3.1 GOVERNMENT REGULATIONS AND INCENTIVES TO DRIVE MARKET 139
TABLE 110 UTILITY: ELECTRIC TRACTOR MARKET, BY REGION, 2021–2023 (USD MILLION) 140
TABLE 111 UTILITY: ELECTRIC TRACTOR MARKET, BY REGION, 2024–2030 (USD MILLION) 140
10.4 INDUSTRIAL 140
10.4.1 ENVIRONMENTAL CONCERNS AND NEED FOR NOISE REDUCTION TO DRIVE MARKET 140
TABLE 112 INDUSTRIAL: ELECTRIC TRACTOR MARKET, BY REGION, 2021–2023 (USD MILLION) 141
TABLE 113 INDUSTRIAL: ELECTRIC TRACTOR MARKET, BY REGION, 2024–2030 (USD MILLION) 141
10.5 PRIMARY INSIGHTS 141
11 ELECTRIC FARM EQUIPMENT MARKET, BY EQUIPMENT TYPE 142
11.1 INTRODUCTION 142
11.2 ELECTRIC SPRAYERS 142
11.3 ELECTRIC WEEDERS 143
11.4 PRIMARY INSIGHTS 143
12 ELECTRIC TRACTOR MARKET, BY REGION 144
12.1 INTRODUCTION 145
FIGURE 37 ELECTRIC TRACTOR MARKET, BY REGION, 2024 VS. 2030 (USD MILLION) 145
TABLE 114 ELECTRIC TRACTOR MARKET, BY REGION, 2021–2023 (UNITS) 145
TABLE 115 ELECTRIC TRACTOR MARKET, BY REGION, 2024–2030 (UNITS) 146
TABLE 116 ELECTRIC TRACTOR MARKET, BY REGION, 2021–2023 (USD MILLION) 146
TABLE 117 ELECTRIC TRACTOR MARKET, BY REGION, 2024–2030 (USD MILLION) 146
12.2 ASIA PACIFIC 147
12.2.1 RECESSION IMPACT ANALYSIS 147
FIGURE 38 ASIA PACIFIC: ELECTRIC TRACTOR MARKET SNAPSHOT 148
FIGURE 39 ASIA PACIFIC: ELECTRIC TRACTOR MARKET, BY COUNTRY, 2024 VS. 2030 (USD MILLION) 149
TABLE 118 ASIA PACIFIC: ELECTRIC TRACTOR MARKET, BY COUNTRY, 2021–2023 (UNITS) 149
TABLE 119 ASIA PACIFIC: ELECTRIC TRACTOR MARKET, BY COUNTRY, 2024–2030 (UNITS) 149
TABLE 120 ASIA PACIFIC: ELECTRIC TRACTOR MARKET, BY COUNTRY, 2021–2023 (USD MILLION) 150
TABLE 121 ASIA PACIFIC: ELECTRIC TRACTOR MARKET, BY COUNTRY, 2024–2030 (USD MILLION) 150
12.2.2 CHINA 150
12.2.2.1 Leadership in EV technology to drive market 150
TABLE 122 CHINA: ELECTRIC TRACTOR MARKET, BY PROPULSION, 2021–2023 (UNITS) 151
TABLE 123 CHINA: ELECTRIC TRACTOR MARKET, BY PROPULSION, 2024–2030 (UNITS) 151
TABLE 124 CHINA: ELECTRIC TRACTOR MARKET, BY PROPULSION, 2021–2023 (USD MILLION) 151
TABLE 125 CHINA: ELECTRIC TRACTOR MARKET, BY PROPULSION, 2024–2030 (USD MILLION) 152
12.2.3 INDIA 152
12.2.3.1 Increase in farm mechanization to drive market 152
TABLE 126 INDIA: ELECTRIC TRACTOR MARKET, BY PROPULSION, 2021–2023 (UNITS) 153
TABLE 127 INDIA: ELECTRIC TRACTOR MARKET, BY PROPULSION, 2024–2030 (UNITS) 153
TABLE 128 INDIA: ELECTRIC TRACTOR MARKET, BY PROPULSION, 2021–2023 (USD MILLION) 153
TABLE 129 INDIA: ELECTRIC TRACTOR MARKET, BY PROPULSION, 2024–2030 (USD MILLION) 153
12.2.4 JAPAN 154
12.2.4.1 Aging farmer population and labor shortage to drive market 154
TABLE 130 JAPAN: ELECTRIC TRACTOR MARKET, BY PROPULSION, 2021–2023 (UNITS) 154
TABLE 131 JAPAN: ELECTRIC TRACTOR MARKET, BY PROPULSION, 2024–2030 (UNITS) 155
TABLE 132 JAPAN: ELECTRIC TRACTOR MARKET, BY PROPULSION, 2021–2023 (USD MILLION) 155
TABLE 133 JAPAN: ELECTRIC TRACTOR MARKET, BY PROPULSION, 2024–2030 (USD MILLION) 155
12.2.5 SOUTH KOREA 156
12.2.5.1 Government incentives for farmers to drive market 156
TABLE 134 SOUTH KOREA: ELECTRIC TRACTOR MARKET, BY PROPULSION, 2021–2023 (UNITS) 156
TABLE 135 SOUTH KOREA: ELECTRIC TRACTOR MARKET, BY PROPULSION, 2024–2030 (UNITS) 156
TABLE 136 SOUTH KOREA: ELECTRIC TRACTOR MARKET, BY PROPULSION, 2021–2023 (USD MILLION) 156
TABLE 137 SOUTH KOREA: ELECTRIC TRACTOR MARKET, BY PROPULSION, 2024–2030 (USD MILLION) 157
12.2.6 REST OF ASIA PACIFIC 157
TABLE 138 REST OF ASIA PACIFIC: ELECTRIC TRACTOR MARKET, BY PROPULSION, 2021–2023 (UNITS) 157
TABLE 139 REST OF ASIA PACIFIC: ELECTRIC TRACTOR MARKET, BY PROPULSION, 2024–2030 (UNITS) 158
TABLE 140 REST OF ASIA PACIFIC: ELECTRIC TRACTOR MARKET, BY PROPULSION, 2021–2023 (USD MILLION) 158
TABLE 141 REST OF ASIA PACIFIC: ELECTRIC TRACTOR MARKET, BY PROPULSION, 2024–2030 (USD MILLION) 158
12.3 EUROPE 159
FIGURE 40 EUROPE: ELECTRIC TRACTOR MARKET SNAPSHOT 159
TABLE 142 EUROPE: ELECTRIC TRACTOR MARKET, BY COUNTRY, 2021–2023 (UNITS) 160
TABLE 143 EUROPE: ELECTRIC TRACTOR MARKET, BY COUNTRY, 2024–2030 (UNITS) 160
TABLE 144 EUROPE: ELECTRIC TRACTOR MARKET, BY COUNTRY, 2021–2023 (USD MILLION) 160
TABLE 145 EUROPE: ELECTRIC TRACTOR MARKET, BY COUNTRY, 2024–2030 (USD MILLION) 161
12.3.1 RECESSION IMPACT ANALYSIS 161
12.3.2 GERMANY 161
12.3.2.1 Increasing demand for high-power tractors to drive market 161
TABLE 146 GERMANY: ELECTRIC TRACTOR MARKET, BY PROPULSION, 2021–2023 (UNITS) 162
TABLE 147 GERMANY: ELECTRIC TRACTOR MARKET, BY PROPULSION, 2024–2030 (UNITS) 162
TABLE 148 GERMANY: ELECTRIC TRACTOR MARKET, BY PROPULSION, 2021–2023 (USD MILLION) 162
TABLE 149 GERMANY: ELECTRIC TRACTOR MARKET, BY PROPULSION, 2024–2030 (USD MILLION) 163
12.3.3 UK 163
12.3.3.1 Precision agriculture and sustainable farming to drive market 163
TABLE 150 UK: ELECTRIC TRACTOR MARKET, BY PROPULSION, 2021–2023 (UNITS) 163
TABLE 151 UK: ELECTRIC TRACTOR MARKET, BY PROPULSION, 2024–2030 (UNITS) 164
TABLE 152 UK: ELECTRIC TRACTOR MARKET, BY PROPULSION, 2021–2023 (USD MILLION) 164
TABLE 153 UK: ELECTRIC TRACTOR MARKET, BY PROPULSION, 2024–2030 (USD MILLION) 164
12.3.4 FRANCE 165
12.3.4.1 Government National Low Carbon Strategy to drive market 165
TABLE 154 FRANCE: ELECTRIC TRACTOR MARKET, BY PROPULSION, 2021–2023 (UNITS) 165
TABLE 155 FRANCE: ELECTRIC TRACTOR MARKET, BY PROPULSION, 2024–2030 (UNITS) 165
TABLE 156 FRANCE: ELECTRIC TRACTOR MARKET, BY PROPULSION, 2021–2023 (USD MILLION) 166
TABLE 157 FRANCE: ELECTRIC TRACTOR MARKET, BY PROPULSION, 2024–2030 (USD MILLION) 166
12.3.5 SPAIN 166
12.3.5.1 Labor shortage and increasing focus on precision agriculture to drive market 166
TABLE 158 SPAIN: ELECTRIC TRACTOR MARKET, BY PROPULSION, 2021–2023 (UNITS) 167
TABLE 159 SPAIN: ELECTRIC TRACTOR MARKET, BY PROPULSION, 2024–2030 (UNITS) 167
TABLE 160 SPAIN: ELECTRIC TRACTOR MARKET, BY PROPULSION, 2021–2023 (USD MILLION) 167
TABLE 161 SPAIN: ELECTRIC TRACTOR MARKET, BY PROPULSION, 2024–2030 (USD MILLION) 168
12.3.6 RUSSIA 168
12.3.6.1 Increasing adoption of farm mechanization to drive market 168
TABLE 162 RUSSIA: ELECTRIC TRACTOR MARKET, BY PROPULSION, 2021–2023 (UNITS) 168
TABLE 163 RUSSIA: ELECTRIC TRACTOR MARKET, BY PROPULSION, 2024–2030 (UNITS) 169
TABLE 164 RUSSIA: ELECTRIC TRACTOR MARKET, BY PROPULSION, 2021–2023 (USD MILLION) 169
TABLE 165 RUSSIA: ELECTRIC TRACTOR MARKET, BY PROPULSION, 2024–2030 (USD MILLION) 169
12.3.7 ITALY 170
12.3.7.1 Presence of vineyards to drive market 170
TABLE 166 ITALY: ELECTRIC TRACTOR MARKET, BY PROPULSION, 2021–2023 (UNITS) 170
TABLE 167 ITALY: ELECTRIC TRACTOR MARKET, BY PROPULSION, 2024–2030 (UNITS) 170
TABLE 168 ITALY: ELECTRIC TRACTOR MARKET, BY PROPULSION, 2021–2023 (USD MILLION) 171
TABLE 169 ITALY: ELECTRIC TRACTOR MARKET, BY PROPULSION, 2024–2030 (USD MILLION) 171
12.3.8 REST OF EUROPE 171
TABLE 170 REST OF EUROPE: ELECTRIC TRACTOR MARKET, BY PROPULSION, 2021–2023 (UNITS) 172
TABLE 171 REST OF EUROPE: ELECTRIC TRACTOR MARKET, BY PROPULSION, 2024–2030 (UNITS) 172
TABLE 172 REST OF EUROPE: ELECTRIC TRACTOR MARKET, BY PROPULSION, 2021–2023 (USD MILLION) 172
TABLE 173 REST OF EUROPE: ELECTRIC TRACTOR MARKET, BY PROPULSION, 2024–2030 (USD MILLION) 172
12.4 AMERICAS 173
12.4.1 RECESSION IMPACT ANALYSIS 173
TABLE 174 AMERICAS: ELECTRIC TRACTOR MARKET, BY COUNTRY, 2021–2023 (UNITS) 173
TABLE 175 AMERICAS: ELECTRIC TRACTOR MARKET, BY COUNTRY, 2024–2030 (UNITS) 174
TABLE 176 AMERICAS: ELECTRIC TRACTOR MARKET, BY COUNTRY, 2021–2023 (USD MILLION) 174
TABLE 177 AMERICAS: ELECTRIC TRACTOR MARKET, BY COUNTRY, 2024–2030 (USD MILLION) 174
12.4.2 US 175
12.4.2.1 High presence of OEMs to drive market 175
TABLE 178 US: ELECTRIC TRACTOR MARKET, BY PROPULSION, 2021–2023 (UNITS) 175
TABLE 179 US: ELECTRIC TRACTOR MARKET, BY PROPULSION, 2024–2030 (UNITS) 175
TABLE 180 US: ELECTRIC TRACTOR MARKET, BY PROPULSION, 2021–2023 (USD MILLION) 176
TABLE 181 US: ELECTRIC TRACTOR MARKET, BY PROPULSION, 2024–2030 (USD MILLION) 176
12.4.3 CANADA 176
12.4.3.1 Landscaping and ground maintenance to drive market 176
TABLE 182 CANADA: ELECTRIC TRACTOR MARKET, BY PROPULSION, 2021–2023 (UNITS) 177
TABLE 183 CANADA: ELECTRIC TRACTOR MARKET, BY PROPULSION, 2024–2030 (UNITS) 177
TABLE 184 CANADA: ELECTRIC TRACTOR MARKET, BY PROPULSION, 2021–2023 (USD MILLION) 177
TABLE 185 CANADA: ELECTRIC TRACTOR MARKET, BY PROPULSION, 2024–2030 (USD MILLION) 177
12.4.4 MEXICO 178
12.4.4.1 Focus on addressing increasing greenhouse emissions to drive market 178
TABLE 186 MEXICO: ELECTRIC TRACTOR MARKET, BY PROPULSION, 2021–2023 (UNITS) 178
TABLE 187 MEXICO: ELECTRIC TRACTOR MARKET, BY PROPULSION, 2024–2030 (UNITS) 178
TABLE 188 MEXICO: ELECTRIC TRACTOR MARKET, BY PROPULSION, 2021–2023 (USD MILLION) 178
TABLE 189 MEXICO: ELECTRIC TRACTOR MARKET, BY PROPULSION, 2024–2030 (USD MILLION) 179
12.4.5 BRAZIL 179
12.4.5.1 Increasing vineyards and coffee plantations to drive market 179
TABLE 190 BRAZIL: ELECTRIC TRACTOR MARKET, BY PROPULSION, 2021–2023 (UNITS) 180
TABLE 191 BRAZIL: ELECTRIC TRACTOR MARKET, BY PROPULSION, 2024–2030 (UNITS) 180
TABLE 192 BRAZIL: ELECTRIC TRACTOR MARKET, BY PROPULSION, 2021–2023 (USD MILLION) 180
TABLE 193 BRAZIL: ELECTRIC TRACTOR MARKET, BY PROPULSION, 2024–2030 (USD MILLION) 180
12.4.6 ARGENTINA 181
12.4.6.1 Digital agriculture and 2030 Agenda for Sustainable Development to drive market 181
TABLE 194 ARGENTINA: ELECTRIC TRACTOR MARKET, BY PROPULSION, 2021–2023 (UNITS) 181
TABLE 195 ARGENTINA: ELECTRIC TRACTOR MARKET, BY PROPULSION, 2024–2030 (UNITS) 181
TABLE 196 ARGENTINA: ELECTRIC TRACTOR MARKET, BY PROPULSION, 2021–2023 (USD MILLION) 181
TABLE 197 ARGENTINA: ELECTRIC TRACTOR MARKET, BY PROPULSION, 2024–2030 (USD MILLION) 182
12.5 PRIMARY INSIGHTS 182
13 COMPETITIVE LANDSCAPE 183
13.1 OVERVIEW 183
13.2 MARKET SHARE ANALYSIS 183
FIGURE 41 MARKET SHARE ANALYSIS, 2023 183
TABLE 198 DEGREE OF COMPETITION, 2023 184
13.3 REVENUE ANALYSIS 185
FIGURE 42 REVENUE ANALYSIS OF TOP 5 PLAYERS, 2020–2022 185
13.4 COMPANY EVALUATION MATRIX 186
13.4.1 STARS 186
13.4.2 EMERGING LEADERS 186
13.4.3 PERVASIVE PLAYERS 186
13.4.4 PARTICIPANTS 186
13.4.5 COMPANY FOOTPRINT 187
FIGURE 43 ELECTRIC TRACTOR MARKET: COMPANY FOOTPRINT, 2023 187
TABLE 199 ELECTRIC TRACTOR MARKET: PROPULSION FOOTPRINT, 2023 188
TABLE 200 ELECTRIC TRACTOR MARKET: REGION FOOTPRINT, 2023 189
FIGURE 44 COMPANY EVALUATION MATRIX, 2023 190
13.5 KEY PLAYERS’ STRATEGIES/RIGHT TO WIN 191
TABLE 201 COMPANIES ADOPTED PRODUCT DEVELOPMENTS, PARTNERSHIPS, AND CONTRACTS AS CRUCIAL GROWTH STRATEGIES FROM JANUARY 2020 TO JANUARY 2024 191
13.6 COMPETITIVE SCENARIOS AND TRENDS 192
13.6.1 PRODUCT LAUNCHES/DEVELOPMENTS 192
TABLE 202 ELECTRIC TRACTOR MARKET: PRODUCT LAUNCHES/DEVELOPMENTS, JANUARY 2021–JANUARY 2024 192
13.6.2 DEALS 196
TABLE 203 ELECTRIC TRACTOR MARKET: DEALS, JANUARY 2020–JANUARY 2024 196
13.6.3 OTHER DEVELOPMENTS 202
TABLE 204 ELECTRIC TRACTOR MARKET: OTHER DEVELOPMENTS, JANUARY 2020–JANUARY 2024 202
13.6.4 EXPANSIONS 204
TABLE 205 ELECTRIC TRACTOR MARKET: EXPANSIONS, JANUARY 2020–JANUARY 2024 204
13.7 COMPANY VALUATION 206
FIGURE 45 COMPANY VALUATION, 2023 (USD BILLION) 206
13.8 COMPANY FINANCIAL METRICS 206
FIGURE 46 COMPANY FINANCIAL METRICS, 2023 (USD BILLION) 206
13.9 BRAND COMPARISON 207
14 COMPANY PROFILES 208
(Business overview, Products offered, Recent developments & MnM View)*
14.1 KEY PLAYERS 208
14.1.1 KUBOTA CORPORATION 208
TABLE 206 KUBOTA CORPORATION: COMPANY OVERVIEW 208
FIGURE 47 KUBOTA CORPORATION: COMPANY SNAPSHOT 209
TABLE 207 KUBOTA CORPORATION: PRODUCTS OFFERED 209
TABLE 208 KUBOTA CORPORATION: PRODUCT LAUNCHES 210
TABLE 209 KUBOTA CORPORATION: DEALS 210
TABLE 210 KUBOTA CORPORATION: OTHER DEVELOPMENTS 211
14.1.2 SOLECTRAC 213
TABLE 211 SOLECTRAC: COMPANY OVERVIEW 213
FIGURE 48 SOLECTRAC: COMPANY SNAPSHOT 214
TABLE 212 SOLECTRAC: PRODUCTS OFFERED 214
TABLE 213 SOLECTRAC: PRODUCT LAUNCHES 215
TABLE 214 SOLECTRAC: DEALS 216
TABLE 215 SOLECTRAC: OTHER DEVELOPMENTS 216
14.1.3 AGCO CORPORATION 218
TABLE 216 AGCO CORPORATION: COMPANY OVERVIEW 218
FIGURE 49 AGCO CORPORATION: COMPANY SNAPSHOT 219
TABLE 217 AGCO CORPORATION: PRODUCTS OFFERED 219
TABLE 218 AGCO CORPORATION: PRODUCT LAUNCHES 220
TABLE 219 AGCO CORPORATION: DEALS 220
TABLE 220 AGCO CORPORATION: EXPANSIONS 222
14.1.4 CNH INDUSTRIAL N.V. 223
TABLE 221 CNH INDUSTRIAL N.V.: COMPANY OVERVIEW 223
FIGURE 50 CNH INDUSTRIAL N.V.: COMPANY SNAPSHOT 224
TABLE 222 CNH INDUSTRIAL N.V.: PRODUCTS OFFERED 224
TABLE 223 CNH INDUSTRIAL N.V.: PRODUCT LAUNCHES 225
TABLE 224 CNH INDUSTRIAL N.V.: DEALS 225
TABLE 225 CNH INDUSTRIAL N.V.: EXPANSIONS 226
14.1.5 ESCORTS KUBOTA LIMITED 228
TABLE 226 ESCORTS KUBOTA LIMITED: COMPANY OVERVIEW 228
FIGURE 51 ESCORTS KUBOTA LIMITED: COMPANY SNAPSHOT 229
TABLE 227 ESCORTS KUBOTA LIMITED: PRODUCTS OFFERED 229
TABLE 228 ESCORTS KUBOTA LIMITED: PRODUCT DEVELOPMENTS 230
TABLE 229 ESCORTS KUBOTA LIMITED: DEALS 230
14.1.6 MONARCH TRACTOR 232
TABLE 230 MONARCH TRACTOR: COMPANY OVERVIEW 232
TABLE 231 MONARCH TRACTOR: PRODUCTS OFFERED 232
TABLE 232 MONARCH TRACTOR: PRODUCT DEVELOPMENTS 233
TABLE 233 MONARCH TRACTOR: DEALS 233
TABLE 234 MONARCH TRACTOR: OTHER DEVELOPMENTS 236
14.1.7 DEERE & COMPANY 237
TABLE 235 DEERE & COMPANY: COMPANY OVERVIEW 237
FIGURE 52 DEERE & COMPANY: COMPANY SNAPSHOT 238
TABLE 236 DEERE & COMPANY: PRODUCTS OFFERED 238
TABLE 237 DEERE & COMPANY: PRODUCT DEVELOPMENTS 239
TABLE 238 DEERE & COMPANY: DEALS 240
TABLE 239 DEERE & COMPANY: EXPANSIONS 240
14.1.8 YANMAR HOLDINGS CO., LTD. 241
TABLE 240 YANMAR HOLDINGS CO., LTD.: COMPANY OVERVIEW 241
FIGURE 53 YANMAR HOLDINGS CO., LTD.: COMPANY SNAPSHOT 241
TABLE 241 YANMAR HOLDINGS CO., LTD.: PRODUCTS OFFERED 241
TABLE 242 YANMAR HOLDINGS CO., LTD.: PRODUCT DEVELOPMENTS 242
TABLE 243 YANMAR HOLDINGS CO., LTD.: DEALS 242
TABLE 244 YANMAR HOLDINGS CO., LTD.: OTHER DEVELOPMENTS 242
14.1.9 CELLESTIAL E-MOBILITY PVT LTD 243
TABLE 245 CELLESTIAL E-MOBILITY PVT LTD: COMPANY OVERVIEW 243
FIGURE 54 CELLESTIAL E-MOBILITY PVT LTD: COMPANY SNAPSHOT 244
TABLE 246 CELLESTIAL E-MOBILITY PVT LTD: PRODUCTS OFFERED 244
TABLE 247 CELLESTIAL E-MOBILITY PVT LTD: PRODUCT DEVELOPMENTS 245
TABLE 248 CELLESTIAL E-MOBILITY PVT LTD: DEALS 245
14.1.10 INTERNATIONAL TRACTORS LIMITED 246
TABLE 249 INTERNATIONAL TRACTORS LIMITED: COMPANY OVERVIEW 246
TABLE 250 INTERNATIONAL TRACTORS LIMITED: PRODUCTS OFFERED 246
TABLE 251 INTERNATIONAL TRACTORS LIMITED: PRODUCT LAUNCHES 247
TABLE 252 INTERNATIONAL TRACTORS LIMITED: OTHER DEVELOPMENTS 247
14.1.11 PROXECTO 248
TABLE 253 PROXECTO: COMPANY OVERVIEW 248
TABLE 254 PROXECTO: PRODUCTS OFFERED 248
TABLE 255 PROXECTO: PRODUCT DEVELOPMENTS 249
*Details on Business overview, Products offered, Recent developments & MnM View might not be captured in case of unlisted companies.
14.2 OTHER PLAYERS 250
14.2.1 AUTONXT AUTOMATION PVT. LTD. 250
TABLE 256 AUTONXT AUTOMATION PVT. LTD.: COMPANY OVERVIEW 250
14.2.2 RIGITRAC TRAKTORENBAU AG 251
TABLE 257 RIGITRAC TRAKTORENBAU AG: COMPANY OVERVIEW 251
14.2.3 SABI AGRI 251
TABLE 258 SABI AGRI: COMPANY OVERVIEW 251
14.2.4 ARGO TRACTORS S.P.A. 252
TABLE 259 ARGO TRACTORS S.P.A: COMPANY OVERVIEW 252
14.2.5 FOTON LOVOL 253
TABLE 260 FOTON LOVOL: COMPANY OVERVIEW 253
14.2.6 TRACTORS AND FARM EQUIPMENT LIMITED 254
TABLE 261 TRACTORS AND FARM EQUIPMENT LIMITED: COMPANY OVERVIEW 254
14.2.7 VST TRACTORS 255
TABLE 262 VST TRACTORS: COMPANY OVERVIEW 255
14.2.8 MOTIVO ENGINEERING 256
TABLE 263 MOTIVO ENGINEERING: COMPANY OVERVIEW 256
14.2.9 TADUS GMBH 256
TABLE 264 TADUS GMBH: COMPANY OVERVIEW 256
14.2.10 ZY ELEKTRIK TRACTOR 257
TABLE 265 ZY ELEKTRIK TRACTOR: COMPANY OVERVIEW 257
14.2.11 AUGA 257
TABLE 266 AUGA: COMPANY OVERVIEW 257
14.2.12 ZTRACTOR 258
TABLE 267 ZTRACTOR: COMPANY OVERVIEW 258
14.2.13 AMOS POWER 258
TABLE 268 AMOS POWER: COMPANY OVERVIEW 258
15 RECOMMENDATIONS 259
15.1 EUROPE TO DOMINATE ELECTRIC TRACTOR MARKET 259
15.2 EMPHASIS ON SOLID-STATE BATTERIES IN ELECTRIC TRACTORS FOR FUTURE APPLICATIONS 259
15.3 HYDROGEN ELECTRIC TRACTORS TO BE KEY FOCUS AREA 260
15.4 CONCLUSION 260
16 APPENDIX 261
16.1 KEY INSIGHTS FROM INDUSTRY EXPERTS 261
16.2 DISCUSSION GUIDE 261
16.3 KNOWLEDGESTORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL 264
16.4 CUSTOMIZATION OPTIONS 266
16.4.1 ELECTRIC TRACTOR MARKET, BY REGION 266
16.4.1.1 UAE 266
16.4.1.2 Saudi Arabia 266
16.4.1.3 Egypt 266
16.4.2 ELECTRIC TRACTOR MARKET, BY BATTERY CAPACITY 266
16.4.2.1 Asia Pacific 266
16.4.2.1.1 China 266
16.4.2.1.2 India 266
16.4.2.1.3 Japan 266
16.4.2.1.4 South Korea 266
16.4.2.1.5 Rest of Asia Pacific 266
16.4.2.2 Europe 266
16.4.2.2.1 Germany 266
16.4.2.2.2 France 266
16.4.2.2.3 UK 266
16.4.2.2.4 Spain 266
16.4.2.2.5 Russia 266
16.4.2.2.6 Italy 266
16.4.2.2.7 Turkey 266
16.4.2.2.8 Rest of Europe 266
16.4.2.3 North America 267
16.4.2.3.1 US 267
16.4.2.3.2 Canada 267
16.4.2.3.3 Mexico 267
16.4.2.3.4 Brazil 267
16.4.2.3.5 Argentina 267
16.4.3 DETAILED ANALYSIS AND PROFILING OF ADDITIONAL MARKET PLAYERS 267
16.5 RELATED REPORTS 267
16.6 AUTHOR DETAILS 268
Table of Contents
