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Electric Tractor Market Share

Report ID: GMI8868
Published Date: Apr 2024
Report Format: PDF

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Electric Tractor Market Share

CNH Industrial and Kubota dominate the market with over 13% of the market share. CHN employs several key strategies to bolster their presence and competitiveness. It focuses on research and development to innovate and improve battery technology, drivetrains, and autonomous features, enhancing tractor performance and efficiency. Strategic partnerships and collaborations with technology firms, energy companies, and agricultural organizations enable access to resources, expertise, and market reach.

Kubota prioritizes customer education and engagement, highlighting the benefits of electric tractors in terms of cost savings, environmental sustainability, and operational efficiency. Additionally, they leverage government incentives and subsidies to make electric tractors more affordable and attractive to farmers. Besides, expansion into emerging markets and segments, along with diversification of product offerings, ensures broader market penetration and resilience against competition.

Electric Tractor Market Companies

Major players operating in the market are:

AGCO
AutoNxt.
CLAAS
CNH Industrial
John Deere
Kubota
Mahindra and Mahindra
Monarch Tractor
Solectrac
Yanmar

Authors: Preeti Wadhwani, Aishvarya Ambekar

Frequently Asked Questions (FAQ) :

The market size for electric tractor was valued at USD 305.8 million in 2023 and is set to grow at over 13% CAGR between 2024 and 2032, driven by rapid advancements in battery technology and electric drivetrains.

The lithium-ion product type segment in the electric tractor market is set to hold over 55% of the revenue share by 2032, as they offer significant environmental benefits by producing zero tailpipe emissions.

China electric tractor market reached USD 23.7 million in 2023 and is set to grow rapidly by 2032, driven by government initiatives, promoting clean energy adoption.

AGCO, AutoNxt., CLAAS, CNH Industrial, John Deere, Kubota, Mahindra and Mahindra , Monarch Tractor, Solectrac among others.