The "Europe Electric Farm Tractor Market: Analysis and Forecast, 2023-2028" report has been added to ResearchAndMarkets.com's offering.
The Europe electric farm tractor market (excluding U.K.) was valued at $32.94 million in 2023 and is expected to reach $63.20 million by 2028, growing at a CAGR of 13.92% between 2023 and 2028
The electric farm tractor market is experiencing significant growth due to various factors such as increased demand for sustainable farming practices within the agriculture sector, the adoption of electrification and automation in agricultural machinery, and advancements in energy storage systems. Over recent years, there has been a notable increase in interest in electric farm tractors among farmers, manufacturers, and researchers in the agriculture industry, leading to record-breaking sales of electric vehicles (EVs) in this sector.
Market Introduction
The Europe electric farm tractor market in Europe is undergoing substantial growth, driven by multiple factors. There is a growing emphasis on sustainable agricultural practices across the continent, prompting increased demand for environmentally friendly farming solutions. Additionally, the adoption of electrification and automation in agriculture machinery is gaining momentum, further propelling market growth.
European countries are also investing in advanced energy storage systems to support the electrification of farm equipment. Moreover, stringent regulations aimed at reducing emissions from agricultural activities are encouraging farmers to transition to electric farm tractors. This shift is reflected in rising sales and heightened interest among farmers, manufacturers, and researchers in the region, indicating a promising outlook for the Europe electric farm tractor market.
How Can This Report Add Value to an Organization?
Product/Innovation Strategy: The product segment helps the reader understand the different types of electric farm tractors available for deployment and their potential. Moreover, the study provides the reader with a detailed understanding of the electric farm tractor market by application (light-duty tractor, medium-duty tractor, and heavy-duty tractor), mode of operation (manual and autonomous), and by drivetrain technology (battery electric and hybrid electric).
Growth/Marketing Strategy: The Europe electric farm tractor market has seen major development by key players operating in the market, such as business expansion, product launch, partnership, collaboration, and joint venture. The favored strategy for the companies has been product development to strengthen their position in the electric farm tractor market.
Competitive Strategy: Key players in the Europe electric farm tractor market analyzed and profiled in the study involve major electric farm tractor manufacturers. Moreover, a detailed competitive benchmarking of the players operating in the electric farm tractor market has been done to help the reader understand how players stack against each other, presenting a clear market landscape. Additionally, comprehensive competitive strategies such as partnerships, agreements, and collaborations will aid the reader in understanding the untapped revenue pockets in the market.
Key Market Players and Competition Synopsis
The companies that are profiled have been selected based on inputs gathered from primary experts and analysing the company's coverage, product portfolio, its market penetration.
Key Companies Profiled:
- Rigitrac Traktorenbau AG
- CLAAS KGaA mbH
- EOX Tractors (Formerly H2Trac)
- EVE Srl
- SABI AGRI
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 132 |
| Forecast Period | 2023 2028 |
| Estimated Market Value (USD) in 2023 | $32.94 Million |
| Forecasted Market Value (USD) by 2028 | $63.2 Million |
| Compound Annual Growth Rate | 13.9% |
| Regions Covered | Europe |
Key Topics Covered:
Executive Summary
1 Markets
1.1 Industry Outlook
1.1.1 Market Definition
1.1.2 Market Trends
1.1.2.1 Advanced Battery Technology and Future Connectivity Trends
1.1.2.1.1 Advancements in Battery Technology
1.1.2.1.2 Future Connectivity Trends (5G and LoRaWAN)
1.1.2.2 Climate Smart Agriculture Practices
1.1.3 Ecosystem/Ongoing Programs
1.1.3.1 Consortiums and Associations
1.1.3.2 Regulatory Bodies
1.1.3.3 Government Initiatives/Programs
1.2 Business Dynamics
1.2.1 Business Drivers
1.2.1.1 Rise in Awareness toward Sustainable Practices in Agriculture
1.2.1.2 Increased Farm Mechanization and Technology Adoption
1.2.1.3 Favoring Policies toward Electric Vehicle Adoption
1.2.1.4 Increased Demand for Electrification in Agriculture Industry
1.2.2 Business Challenges
1.2.2.1 Inadequate Charging, Network Infrastructure, and Battery Recycling Challenges
1.2.2.2 High Initial Cost of Equipment
1.2.2.3 Development of Alternative Engine Models
1.2.2.4 Limited Market Penetration Owing to Dominance of Conventional Tractors
1.2.3 Business Strategies
1.2.3.1 Product Development and Innovation
1.2.3.2 Market Development
1.2.4 Corporate Strategies
1.2.4.1 Mergers and Acquisitions
1.2.4.2 Partnerships, Joint Ventures, Collaborations, and Alliances
1.2.5 Business Opportunities
1.2.5.1 Integration of New/Advanced Technologies with Electric Farm Tractor
1.2.5.2 Opportunities in Developing Nations
1.3 Case Studies
1.3.1 Monarch Tractor Wente Vineyards Energy Case Study
1.3.2 Solectrac Inc Mushroom Farm Case Study
1.4 Start-Up Landscape
1.4.1 Key Start-Ups in the Ecosystem
1.5 Impact of Russia-Ukraine Crisis on Electric Farm Tractor Market
1.6 Cost Analysis Comparision of Conventional and Electric Tractor
1.7 Architectural/Technical Comparison of Key Products in the Market
1.8 Role of Agrivoltaics in Electric Farm Tractor Market
1.9 Key Battery Technologies
1.9.1 Lithium-Ion Battery
1.9.2 Nickel, Mercury-Based Batteries, and Others
2 Region
2.1 Europe
2.1.1 Market
2.1.1.1 Key Companies in Europe
2.1.1.2 Business Drivers
2.1.1.3 Business Challenges
2.1.2 Application
2.1.2.1 Europe Electric Farm Tractor Market (by Application)
2.1.3 Product
2.1.3.1 Europe Electric Farm Tractor Market (by Mode of Operation)
2.1.3.2 Europe Electric Farm Tractor Market (by Drivetrain Technology)
2.1.4 Europe Electric Farm Tractor Market (by Country)
2.1.4.1 Germany
2.1.4.2 France
2.1.4.3 Netherlands
2.1.4.4 Norway
2.1.4.5 Sweden
2.1.4.6 Greece
2.1.4.7 Switzerland
2.1.4.8 Ukraine
2.1.4.9 Belgium
2.1.4.10 Rest-of-Europe
2.2 U.K.
3 Markets Competitive Benchmarking and Company Profiles
3.1 Competitive Benchmarking
3.1.1 Electric Farm Tractor Companies
3.2 Company Profiles
3.2.1 Rigitrac Traktorenbau AG
3.2.1.1 Company Overview
3.2.1.2 Role of Rigitrac Traktorenbau AG in the Electric Farm Tractor Market
3.2.1.3 Product Portfolio
3.2.1.4 Product Pricing
3.2.1.5 Customer Profiles
3.2.1.5.1 Target Customers
3.2.1.6 Analyst View
3.2.2 CLAAS KGaA mbH
3.2.3 EOX Tractors (Formerly H2Trac)
3.2.4 EVE Srl
3.2.5 SABI AGRI
3.2.6 Other Key Players
4 Research Methodology
4.1 Data Sources
4.1.1 Primary Data Sources
4.1.2 Secondary Data Sources
4.1.3 Data Triangulation
4.2 Market Estimation and Forecast
For more information about this report visit https://www.researchandmarkets.com/r/hzqcd9
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