Asia-Pacific Electric Farm Tractor Market: Analysis and Forecast, 2023-2028

Publisher BIS Research

Published Jan 24, 2024

Length 116 Pages

SKU # BIS18455819

Description

Asia-Pacific Electric Farm Tractor Market: Analysis and Forecast, 2023-2028

Introduction to Asia-Pacific Electric Farm Tractor Market

The Asia-Pacific electric farm tractor market (excluding China) was valued at $19.49 million in 2023, which is expected to grow with a CAGR of 14.59% and reach $38.52 million by 2028. The growth of the electric farm tractor market can be attributed to multiple factors. These include the increasing need for sustainable farming practices in the agriculture sector, the electrification and automation of agricultural machinery, and the utilization of energy storage systems. In recent times, electric farm tractors have witnessed a significant rise in popularity within the farming community, as well as among manufacturers and researchers in the agricultural industry. This heightened interest has led to record-breaking sales of electric vehicles (EVs) in the sector.

Market Introduction

The APAC Electric Farm Tractor Market is experiencing notable growth due to several key factors. Firstly, there is a growing emphasis on sustainable and environmentally friendly agricultural practices in the region. This has led to increased demand for electric farm tractors as they offer a cleaner and more sustainable alternative to traditional diesel-powered tractors. Additionally, the automation of agricultural machinery and the integration of energy storage systems have further fueled the adoption of electric farm tractors.

Furthermore, government initiatives and incentives promoting the use of electric vehicles in agriculture have played a significant role in driving market growth. The APAC region, with its large agricultural sector, is witnessing a surge in interest and investment in electric farm tractors, leading to substantial market expansion.

Market Segmentation:

Segmentation 1: by Application

Light-Duty Tractor
Medium-Duty Tractor
Heavy-Duty Tractor

Segmentation 2: by Mode of Operation

Manual
Autonomous

Segmentation 3: by Drivetrain Technology

Battery Electric
Hybrid Electric

Segmentation 4: by Country

Japan
India
South Korea
Australia & New Zealand
Rest-of-Asia-Pacific

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 APAC 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 APAC 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 analyzing company coverage, product portfolio, and regional presence.

Some of the prominent names in this market are:

Cellestial eMobility Private Limited
Kubota Corporation
Sonalika Group
Erisha Agritech
AutoNxt Automation

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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 China; 2.1.1 Market; 2.1.1.1 Buyer Attributes; 2.1.1.1.1 Charging Infrastructure, Government Subsidies, and Farm Information; 2.1.1.2 Key Companies in China; 2.1.1.3 Business Drivers; 2.1.1.4 Business Challenges; 2.1.2 Application; 2.1.2.1 China Electric Farm Tractor Market (by Application); 2.1.3 Product; 2.1.3.1 China Electric Farm Tractor Market (by Mode of Operation); 2.1.3.2 China Electric Farm Tractor Market (by Drivetrain Technology); 2.2 Asia-Pacific; 2.2.1 Market; 2.2.1.1 Key Companies in Asia-Pacific; 2.2.1.2 Business Drivers; 2.2.1.3 Business Challenges; 2.2.2 Application; 2.2.2.1 Asia-Pacific Electric Farm Tractor Market (by Application); 2.2.3 Product; 2.2.3.1 Asia-Pacific Electric Farm Tractor Market (by Mode of Operation); 2.2.3.2 Asia-Pacific Electric Farm Tractor Market (by Drivetrain Technology); 2.2.4 Asia-Pacific Electric Farm Tractor Market (by Country); 2.2.4.1 Japan; 2.2.4.1.1 Market; 2.2.4.1.1.1 Buyer Attributes; 2.2.4.1.1.1.1 Charging Infrastructure, Government Subsidies, and Farm Information; 2.2.4.1.1.2 Business Challenges; 2.2.4.1.1.3 Business Drivers; 2.2.4.1.2 Application; 2.2.4.1.2.1 Japan Electric Farm Tractor Market (by Application); 2.2.4.1.3 Product; 2.2.4.2 India; 2.2.4.2.1 Market; 2.2.4.2.1.1 Buyer Attributes; 2.2.4.2.1.1.1 Charging Infrastructure, Government Subsidies, and Farm Information; 2.2.4.2.1.2 Business Challenges; 2.2.4.2.1.3 Business Drivers; 2.2.4.2.2 Application; 2.2.4.2.2.1 India Electric Farm Tractor Market (by Application); 2.2.4.2.3 Product; 2.2.4.3 Australia and New Zealand; 2.2.4.3.1 Market; 2.2.4.3.1.1 Buyer Attributes; 2.2.4.3.1.1.1 Charging Infrastructure, Government Subsidies, and Farm Information; 2.2.4.3.1.2 Business Challenges; 2.2.4.3.1.3 Business Drivers; 2.2.4.3.2 Application; 2.2.4.3.2.1 Australia and New Zealand Electric Farm Tractor Market (by Application); 2.2.4.3.3 Product; 2.2.4.4 South Korea; 2.2.4.4.1 Market; 2.2.4.4.1.1 Buyer Attributes; 2.2.4.4.1.1.1 Charging Infrastructure, Government Subsidies, and Farm Information; 2.2.4.4.1.2 Business Challenges; 2.2.4.4.1.3 Business Drivers; 2.2.4.4.2 Application; 2.2.4.4.2.1 South Korea Electric Farm Tractor Market (by Application); 2.2.4.4.3 Product; 2.2.4.5 Rest-of-Asia-Pacific; 2.2.4.5.1 Market; 2.2.4.5.1.1 Buyer Attributes; 2.2.4.5.1.1.1 Charging Infrastructure, Government Subsidies, and Farm Information; 2.2.4.5.1.2 Business Challenges; 2.2.4.5.1.3 Business Drivers; 2.2.4.5.2 Application; 2.2.4.5.2.1 Rest-of-Asia-Pacific Electric Farm Tractor Market (by Application); 2.2.4.5.3 Product
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 Cellestial eMobility Private Limited; 3.2.1.1 Company Overview; 3.2.1.2 Role of Cellestial eMobility Private Limited 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 Corporate Strategies; 3.2.1.6.1 Partnerships, Joint Ventures, Collaborations, Agreements, and Alliances; 3.2.1.7 Analyst View; 3.2.2 Kubota Corporation; 3.2.2.1 Company Overview; 3.2.2.2 Role of Kubota Corporation in the Electric Farm Tractor Market; 3.2.2.3 Product Portfolio; 3.2.2.4 Customer Profiles; 3.2.2.4.1 Target Customers; 3.2.2.5 Business Strategies; 3.2.2.5.1 Product Developments; 3.2.2.5.2 Market Development; 3.2.2.6 Corporate Strategies; 3.2.2.6.1 Mergers and Acquisitions; 3.2.2.7 Analyst View; 3.2.3 Sonalika Group; 3.2.3.1 Company Overview; 3.2.3.2 Role of Sonalika Group in the Electric Farm Tractor Market; 3.2.3.3 Product Portfolio; 3.2.3.4 Product Pricing; 3.2.3.5 Customer Profiles; 3.2.3.5.1 Target Customers; 3.2.3.5.2 Key Clients; 3.2.3.6 Business Strategies; 3.2.3.6.1 Product Developments; 3.2.3.7 Analyst View; 3.2.4 Erisha Agritech; 3.2.4.1 Company Overview; 3.2.4.2 Role of Erisha Agritech in the Electric Farm Tractor Market; 3.2.4.3 Product Portfolio; 3.2.4.4 Product Pricing; 3.2.4.5 Customer Profiles; 3.2.4.5.1 Target Customers; 3.2.4.6 Business Strategies; 3.2.4.6.1 Product Developments; 3.2.4.7 Corporate Strategies; 3.2.4.7.1 Partnerships, Joint Ventures, Collaborations, and Alliances; 3.2.4.8 Analyst View; 3.2.5 AutoNxt Automation; 3.2.5.1 Company Overview; 3.2.5.2 Role of AutoNxt Automation in the Electric Farm Tractor Market; 3.2.5.3 Product Portfolio; 3.2.5.4 Customer Profiles; 3.2.5.4.1 Target Customers; 3.2.5.5 Business Strategies; 3.2.5.5.1 Product Developments; 3.2.5.6 Analyst View
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
List of Figures: Figure 1: Market Dynamics of the Electric Farm Tractor Market, Drivers, Challenges, and Opportunities; Figure 2: Asia-Pacific Electric Farm Tractor Market, $Million, 2022-2028; Figure 3: Asia-Pacific Electric Farm Tractor Market (by Application), $Million, 2022 and 2028; Figure 4: Asia-Pacific Electric Farm Tractor Market (by Mode of Operation), Share (%) 2022; Figure 5: Asia-Pacific Electric Farm Tractor Market (by Drivetrain Technology), Share (%) 2022; Figure 6: Electric Farm Tractor Market (by Region), $Million, 2022; Figure 7: Applications of 5G in Electric Farm Tractors; Figure 8: Basic Infrastructural Requirements of Electric Farm Tractor Ecosystem; Figure 9: Product Development and Innovation (by Company), January 2017-March 2023; Figure 10: Partnerships, Joint Ventures, Collaborations, and Alliances (by Company), January 2017-March 2023; Figure 11: Wente Vineyards Energy Case Study – Monarch Tractor; Figure 12: Solectrac Inc Mushroom Farm Case Study; Figure 13: Charging Infrastructure, Government Subsidies, and Farm Information; Figure 14: Charging Infrastructure, Government Subsidies, and Farm Information; Figure 15: Charging Infrastructure, Government Subsidies, and Farm Information; Figure 16: Charging Infrastructure, Government Subsidies, and Farm Information; Figure 17: Charging Infrastructure, Government Subsidies, and Farm Information; Figure 18: Charging Infrastructure, Government Subsidies, and Farm Information; Figure 19: Competitive Position Matrix for Electric Farm Tractor Companies; Figure 20: Data Triangulation; Figure 21: Top-Down and Bottom-Up Approach; Figure 22: Assumptions and Limitations
List of Tables: Table 1: Key Consortiums and Associations in the Electric Farm Tractor Market; Table 2: Key Regulatory Bodies; Table 3: Key Government Initiatives/Programs; Table 4: Internet and Electricity Access in Key Countries, 2020; Table 5: Key Start-Ups in the Electric Farm Tractor Market; Table 6: Cost Analysis – Conventional vs. Electric Farm Tractor; Table 7: Technical Parameters Comparison – Monarch Tractor vs. Solectrac Electric Farm Tractors; Table 8: Key Lithium-Ion Battery-Powered Electric Farm Tractor Companies; Table 9: Electric Farm Tractor Market (by Region), $Million, 2022-2028; Table 10: Electric Farm Tractor Market (by Region), Units, 2022-2028; Table 11: China Electric Farm Tractor Market (by Application), $Million, 2022-2028; Table 12: China Electric Farm Tractor Market (by Application), Units, 2022-2028; Table 13: China Electric Farm Tractor Market (by Mode of Operation), $Million, 2022-2028; Table 14: China Electric Farm Tractor Market (by Mode of Operation), Units, 2022-2028; Table 15: China Electric Farm Tractor Market (by Drivetrain Technology), $Million, 2022-2028; Table 16: China Electric Farm Tractor Market (by Drivetrain Technology), Units, 2022-2028; Table 17: Asia-Pacific Electric Farm Tractor Market (by Application), $Million, 2022-2028; Table 18: Asia-Pacific Electric Farm Tractor Market (by Application), Units, 2022-2028; Table 19: Asia-Pacific Electric Farm Tractor Market (by Mode of Operation), $Million, 2022-2028; Table 20: Asia-Pacific Electric Farm Tractor Market (by Mode of Operation), Units, 2022-2028; Table 21: Asia-Pacific Electric Farm Tractor Market (by Drivetrain Technology), $Million, 2022-2028; Table 22: Asia-Pacific Electric Farm Tractor Market (by Drivetrain Technology), Units, 2022-2028; Table 23: Asia-Pacific Electric farm tractor market (by Country), $Million, 2022-2028; Table 24: Asia-Pacific Electric farm tractor market (by Country), Units, 2022-2028; Table 25: Japan Electric Farm Tractor Market (by Application), $Million, 2022-2028; Table 26: Japan Electric Farm Tractor Market (by Application), Units, 2022-2028; Table 27: Japan Electric Farm Tractor Market (by Drivetrain Technology), $Million, 2022-2028; Table 28: Japan Electric Farm Tractor Market (by Drivetrain Technology), Units, 2022-2028; Table 29: Japan Electric Farm Tractor Market (by Mode of Operation), $Million, 2022-2028; Table 30: Japan Electric Farm Tractor Market (by Mode of Operation), Units, 2022-2028; Table 31: India Electric Farm Tractor Market (by Application), $Million, 2022-2028; Table 32: India Electric Farm Tractor Market (by Application), Units, 2022-2028; Table 33: India Electric Farm Tractor Market (by Drivetrain Technology), $Million, 2022-2028; Table 34: India Electric Farm Tractor Market (by Drivetrain Technology), Units, 2022-2028; Table 35: India Electric Farm Tractor Market (by Mode of Operation), $Million, 2022-2028; Table 36: India Electric Farm Tractor Market (by Mode of Operation), Units, 2022-2028; Table 37: Australia and New Zealand Electric Farm Tractor Market (by Application), $Million, 2022-2028; Table 38: Australia and New Zealand Electric Farm Tractor Market (by Application), Units, 2022-2028; Table 39: Australia and New Zealand Electric Farm Tractor Market (by Drivetrain Technology), $Million, 2022-2028; Table 40: Australia and New Zealand Electric Farm Tractor Market (by Drivetrain Technology), Units, 2022-2028; Table 41: Australia and New Zealand Electric Farm Tractor Market (by Mode of Operation), $Million, 2022-2028; Table 42: Australia and New Zealand Electric Farm Tractor Market (by Mode of Operation), Units, 2022-2028; Table 43: South Korea Electric Farm Tractor Market (by Application), $Million, 2022-2028; Table 44: South Korea Electric Farm Tractor Market (by Application), Units, 2022-2028; Table 45: South Korea Electric Farm Tractor Market (by Drivetrain Technology), $Million, 2022-2028; Table 46: South Korea Electric Farm Tractor Market (by Drivetrain Technology), Units, 2022-2028; Table 47: South Korea Electric Farm Tractor Market (by Mode of Operation), $Million, 2022-2028; Table 48: South Korea Electric Farm Tractor Market (by Mode of Operation), Units, 2022-2028; Table 49: Rest-of-Asia-Pacific Electric Farm Tractor Market (by Application), $Million, 2022-2028; Table 50: Rest-of-Asia-Pacific Electric Farm Tractor Market (by Application), Units, 2022-2028; Table 51: Rest-of-Asia-Pacific Electric Farm Tractor Market (by Drivetrain Technology), $Million, 2022-2028; Table 52: Rest-of-Asia-Pacific Electric Farm Tractor Market (by Drivetrain Technology), Units, 2022-2028; Table 53: Rest-of-Asia-Pacific Electric Farm Tractor Market (by Mode of Operation), $Million, 2022-2028; Table 54: Rest-of-Asia-Pacific Electric Farm Tractor Market (by Mode of Operation), Units, 2022-2028; Table 55: Cellestial eMobility Private Limited: Product Portfolio; Table 56: Cellestial eMobility Private Limited: Product Pricing; Table 57: Cellestial eMobility Private Limited: Agreement; Table 58: Kubota Corporation: Product Portfolio; Table 59: Kubota Corporation: Product Developments; Table 60: Kubota Corporation: Kubota Corporation: Market Development; Table 61: Kubota Corporation: Mergers and Acquisitions; Table 62: Sonalika Group: Product Portfolio; Table 63: Sonalika Group: Product Pricing; Table 64: Sonalika Group: Product Developments; Table 65: Erisha Agritech: Product Portfolio; Table 66: Erisha Agritech: Product Pricing; Table 67: Erisha Agritech: Product Developments; Table 68: Erisha Agritech: Partnership, Joint Ventures, Collaborations, and Alliances; Table 69: AutoNxt Automation: Product Portfolio; Table 70: AutoNxt Automation: Product Developments

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