DUBLIN, May 23, 2023 /PRNewswire/ — The “Europe Electric Farm Tractors Market- Size, Trends, Competitive Analysis and Forecasts (2023-2028)” report has been added to ResearchAndMarkets.com’s offering.
The adoption of electric farm tractors in Europe is a growing trend, though diesel tractors remain the dominant type of farm equipment. However, with increasing pressure to reduce emissions and a shift towards more sustainable agricultural practices, the demand for electric tractors is expected to grow in the coming years.
The major drivers of electric farm tractors in Europe are concerns over climate change and the need to reduce greenhouse gas emissions from agriculture.
In addition, consumers in Europe are increasingly demanding sustainable and environmentally friendly products, which is putting pressure on farmers to adopt more sustainable farming practices, including using electric tractors. The farmers are also switching to electric tractors as they offer significant cost savings over their lifetime, especially in fuel costs and maintenance. As a result, Europe’s electric farm tractors market is forecasted to grow at a CAGR of 11.9% from 2023 to 2028.
Germany, France, U.K., Italy, and Norway are major markets for electric farm tractors in Europe. The adoption of electric tractors in Germany is being promoted through various Government initiatives and policies, such as subsidies for electric vehicles and stricter emissions standards for diesel-powered vehicles.
Similarly in France, major driving force behind the interest in electric tractors is the increasing focus on sustainability and reducing emissions in the agriculture sector. The Norwegian Government is pushing for the use of electric tractors in agriculture to reduce emissions from agriculture by 5 million tonnes by 2030. The United Kingdom is also a growing market for electric farm tractors, with several manufacturers offering models to meet the demand for sustainable agriculture.
Major players in the Europe Electric Farm Tractor market are CNH Industrial, John Deere, Case IH, Kubota. The market is also fragmented among many local players catering to one or few countries. Product innovation and marketing are two major strategies adopted by electric tractor manufacturers in Europe.
Manufacturers in Europe are continuously developing more efficient, reliable, and eco-friendly electric farm tractors to attract more customer base. Suppliers are adopting various marketing and promotion strategies to increase product visibility and awareness. They are leveraging social media platforms, attending agricultural trade shows and conferences, and partnering with other companies to showcase their products.
- Market trends since 2019 and five-year forecasts of market growth
- Detailed analysis of the micro and macro elements influencing demand trends
- Identifying opportunity spaces across segments and countries
- Supply & demand side trend and analysis
- Investment prospects and competition pattern
- Insights on the growth potential of the market in key countries
- Detailed analysis of major producers covering financial investments & strategies adopted
- Competitive landscape of the industry
Key Topics Covered:
3. Industry Dynamics
3.1.1 Growing emphasis on precision farming
3.1.2 Government sponsored incentives and subsidies to promote electric tractors
3.1.3 Dwindling agriculture laborers
3.1.4 Increased Hobby farmers during the COVID-19 pandemic
3.2.1 Insufficient charging infrastructure
3.2.2 High Cost of equipment & battery production
3.3.1 Low Operating Costs
3.3.2 Rising Fuel Prices
3.4 Porter’s Five Forces Analysis
3.5 Future Trends in the Industry
3.6 Value Chain Analysis
3.7 Market Innovations
4. Market Size and Forecast
4.1 Market Share, By Types
4.1.1 Utility Tractors
4.1.2 Row crop tractors
4.1.3 Garden Tractor
4.1.4 Orchard Tractor
4.2 Market Share, By Horse Power
4.2.1 Below 40 HP
4.2.2 Above 40 HP
4.3 Market Share, By Battery Type
5. Country Market Share
6. Competitive Analysis
6.1 Market Share Analysis
6.2 Growth Strategies of leading players
6.3 Investment and Development Prospects
6.3.1 Investment in past five years
6.3.2 Investment Opportunities
7. Company Profiles
7.1 AGCO Corp.
7.2 CNH Industrial N.V
7.3 Deere and Company
7.4 Escorts Limited
7.5 Kubota Corporation
7.6 Monarch Tractor
7.8 International Tractors Limited (Sonalika)
7.9 Cellestial E-Mobility
For more information about this report visit https://www.researchandmarkets.com/r/hd0cy0
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SOURCE Research and Markets