Over the past few years, there has been a remarkable increase in the popularity of electric farm tractors, attracting significant attention from farmers, manufacturers, and researchers in the agriculture industry. The sales of electric vehicles (EVs) in this sector have soared to unprecedented levels.
In this race, Turkey is making efforts to establish itself as a prominent player in the production of heavy vehicles and weapons systems, and their ambitious plan includes the development of the ZY Electric Tractor.
As per the BIS Research report, the electric farm tractor market was valued at $98.7 million in 2022 and is expected to reach $234.0 million by 2028, growing at a CAGR of 14.06% between 2023 and 2028.
A Turkish firm called ZY Electric Tractor has successfully created a fully electric tractor, which will begin mass production later in 2023. Despite its exterior appearance as a conventional tractor with a cabin, the ZY electric tow tractor operates without a diesel engine. Instead, it is equipped with a massive 95 kWh battery pack under the hood. According to the ZY Electric Tractor, this battery pack can power the tractor for approximately 5 to 7 hours of operation.
Here’s the Complete Story
In 2022, the Middle East region witnessed a valuation of $2.27 million in the electric farm tractor market, while Europe's market was valued at $26.84 million. Consequently, Turkey is striving to enhance its economic condition by producing its own cars, trains, weaponry, and tractors, with the intention of exporting them to Greece.
According to the CEO of ZY Electric Tractor, the electric tractor will be available in three different sizes and power options, i.e., small, medium, and large.
The small size is designed for gardening work and will have a power output of up to 140 horsepower. It will take approximately 20 minutes to fully charge and provide a battery life of 5 hours.
The medium version will feature electric motors with a combined power of 105 horsepower, totaling 220 PferdStarke (PS). It will offer an autonomy of 7 hours.
As for the larger version, it will have a total power output of 320 horsepower and can achieve a full charge in 90 minutes, providing 7 hours of battery life. All three versions share the common feature of being emission-free and completely silent, which is particularly beneficial for animal husbandry and dairy farms.
The current production capacity of the company is 1,050 units per year, with plans to increase it to 10,000 units in the future.
Geographical Distribution of Electric Farm Tractors
From 2023 to 2028, it is expected that the Asia-Pacific region will witness the highest rate of expansion, with a current value of $15.79 million. This can be attributed to the region's continuous endeavors to digitize and electrify various industries, thereby positively impacting the electric farm tractor sector as well. Additionally, governments in the region are implementing policies that promote the adoption of technology, which is expected to further contribute significantly to the market's growth.
Furthermore, in 2022, North America emerged as the leading market for electric farm tractors, with a valuation of $42.92 million. This region is expected to maintain its dominance throughout the forecast period. The market's growth is primarily fueled by the rise in research and development initiatives and the widespread adoption of electric farm tractors on a large scale.
Conclusion
The electric farm tractor market holds significant potential on a global scale, with a positive influence stemming from the increasing emphasis on digitization. However, to effectively address the challenges encountered by farmers and the industry as a whole, the market requires collaboration between organizations and the active involvement of farmers in the development process. In this segment, Turkey’s ZY Electric tractor exportation to Greece represents a crucial endeavor.
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