The global electric farm tractor market research study offers a broad perspective on the analysis of the industry. The research is based on extensive primary interviews (in-house experts, industry leaders, and market players) and secondary research (a host of paid and unpaid databases), along with the analytical tools that have been used to build the forecast and the predictive models.
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The report is a compilation of various segmentations, including market breakdown by application, product, and region. The report highlights the key driving and restraining forces for the market as well as the opportunities in different applications across the leading countries. In the extensive primary research process undertaken for this study, the sources include industry experts and key executives from prominent companies and organizations across the value chain. The report also provides a country-based analysis for all the leading countries in every region, including the U.S., the U.K., China, Japan, Mexico, Canada, Australia, Brazil, Spain, and Germany, among others. Each regional analysis details an individual push-and-pull force, in addition to the key players and applications in that region.
The agriculture industry is one of the biggest and most revenue-generating industries in the world. The agricultural production by farmers helps in tackling the global food demand, which is expected to increase with the growing population. Farmers worldwide depend on agricultural production for their livelihood, and increased efficiency in the field would help in the upliftment of farmers and an increased global agricultural production. Thus, there has been an increased push around the world aimed at increasing automation and mechanization in the agricultural industry.
Agricultural equipment plays a vital role in any agricultural field production. Modern agricultural equipment helps in increasing efficiency in the field and thereby increasing the revenue generation for the farmers. Agricultural equipment manufacturers have thus started offering electric farm tractors. Deployment of electric farm tractors is expected to increase the agricultural field production by manifolds and decrease emissions caused by fuel-powered agricultural equipment.
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Electric farm tractors offer a wide range of benefits over conventional farm tractors. Firstly, unlike conventional tractors, there is instant torque delivery in the case of electric farm tractors, which eases pulling any implement attached with the tractor. Another big benefit that electric farm tractor pertains to over conventional tractors is the reduced operational cost. Electric tractors are battery operated, which is inexpensive when compared to diesel-fueled tractors. Also, since an electric farm tractor is battery-operated, a motor runs the entire vehicle. Thus, moving parts are less in the case of the electric tractor.
One of the major challenges that is expected to hinder the growth and better adoption of electric farm tractors by farmers is the low battery life. Battery operated vehicle market is still in the developing phase. With further development in the industry, longer battery life is expected to be offered by electric farm tractor manufacturers, which would escalate the growth and adoption of electric farm tractors in the agricultural industry.
Supply chain analysis refers to the process of analyzing a system of organizations, people, activities, information, and resources involved in moving a product or service from the supplier to the end user. Multiple stakeholders are involved across the electric farm tractor market through various trends within their core agriculture industry. The supply chain analysis in the following figure includes the analysis of electric farm tractors from the point of the initial suppliers to the end users. The market for electric farm tractors across the world is directly related to the agricultural sector. With the recent push toward agricultural automation and digitization, the demand for electric farm tractors is expected to increase throughout the world.
