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Electric Farm Tractor Market - A Global and Regional Analysis

Focus on Application, Product and Country-Wise Analysis - Analysis and Forecast, 2020-2026

 
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The global electric farm tractor market was valued at $116.5 million in 2020, which is expected to grow with a CAGR of 11.1% and reach $218.9 million by 2026.

The top market players are Alke, Cummins Inc., Deere & Company, Escorts Limited, Fendt, Kubota Corporation, Motivo Engineering, Solectrac, Inc., Sonalika, Monarch Tractor, Yanmar Holdings Co., Ltd., AutoNxt Automation Pvt. Ltd., Cellestial, Ztractor, EcoFactor.

Factors driving the growth of the electric farm tractor market are increased focus on sustainability, increase in urbanization, increase in World Population, and rising fuel prices.

Some of the main challenges restricting the growth of the electric farm tractor market are inadequate battery technology and charging infrastructure, and the high initial cost of equipment.

The potential opportunities that are likely to boost the growth of the electric farm tractor market are low operating costs and increased need for productivity.

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