Electric farm tractors are tractors that use an electric motor to obtain drive as opposed to the conventional internal combustion engine. Electric farm tractors use a series of batteries to generate power and have fewer mechanical parts.
Rise in awareness about clean and sustainable farming is boosting the growth of the electric farm tractor market. Rise in fuel cost and active government measures to promote clean technologies are driving the demand for electric farm tractors. Majority of farms globally are subsistence farms and are owned by small farmers; the small farmers are adopting small electric farm tractors for low power demand applications. Furthermore, the trend of consolidation of small farms and their acquisition by commercial farm owners is boosting the need for tractors and is further expected to boost the sale of electric farm tractors. The electric motors have double the torque and as a result are capable of pulling heavier loads. The 60-HP tractor can conduct the work of the 120 Hp diesel tractor. Electric tractors are cost-effective and thus lower the operational cost of agriculture, maximizing the yield. Moreover, the added advantage of low-emission and low maintenance charges of electric farm tractors as opposed to conventional tractors is a major advantage of the electric farm tractor market.
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The electric farm tractor market can be classified according to power type, drive type, and region. By power type, the electric farm tractor market is classified into low & medium duty farm tractor and heavy duty electric farm tractor. The low & medium duty farm tractors hold major market share as electric powertrains are still used for low power application tractors. Advancement in electric vehicle technologies is anticipated to boost the development of high power tractors during the forecast period.
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By drive type, the electric farm tractor market is segmented into hybrid/ plug-in hybrid electric farm tractor and electric farm tractor. Hybrid farm tractors hold a large market share. The tractors can be charged by water wheel, windmill, or solar panels. Hybrid tractors have thus gained market dominance due to the infrastructure. The electric farm tractor segment is poised to witness major expansion with incentives from governments to boost the sales of electric farm tractors.
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By region, the electric farm tractor market is broadly classified across North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Electric farm tractors are recording high sales in North America. Asia Pacific is a key region for farm tractors and has highest number of tractors. Asia Pacific thus holds a large potential for expansion as the demand shifts from conventional internal combustion engine powered tractors to electric tractors.
Key players operating in the global electric farm tractor market for are John Deere, Alke, Motivo Engineering, Simai, AGCO GmbH, and Mitsubishi Fuso.
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