The global electric tractor market is anticipated to grow from USD 710 million in 2019 to USD 860 million in 2027, thus growing at a CAGR of 2.6% during the forecast period. Electric tractors have electronic batteries that can be recharged by plugging them into a socket. Electric tractors do not produce CO2 emissions or air pollution.

Based on application, the global electric tractor market is categorized into agriculture, construction, and mining & transportation. Among these segments, the agriculture sector holds the largest market share in the global electric tractor market as it has several specific applications of electric tractors available in the industry.

Download Free Sample Copy Of Research Report: https://www.vynzresearch.com/automotive-transportation/electric-tractor-market/request-sample

Factors that drive the growth of the global electric tractor market are the rising demand for the no-emission vehicles in the agriculture sector, few moving parts due to which repair & maintenance cost is less and they can work for more time, more efficient than diesel tractors, cost-effectiveness resulting in a reduction of fossil fuel, eco-friendly as it does not make noise or air pollution.

The electric tractor market is niche and the industry has resulted in the development of electric tractors with better efficiencies, and introduction of telematics in electric tractors. Key players have been collaborating with international partners in order to extend their market reach on a global basis. This poses a threat to the new entrants in the industry.

North America dominates the electric tractor market owing to the adoption of the developed technology, increasing demand for compact tractors, and the presence of the major players in the industry.

The key players in the global electric tractor market are: AGCO Corporation, Deere and Company, CLAAS KGaA mbH, Kubota Corporation, Escorts Limited, Caterpillar Inc., Yanmar Co. Ltd., and J.C. Bamford Excavators Ltd. (JCB).

Source: VynZ Research