Global electric farm tractor market is anticipated to grow at a CAGR of 10.0% during the forecast period (2024-2031). A major factor supporting the market’s growth is the increasing collaboration between companies to develop battery-powered agricultural machinery policies for protecting the environment and to increase the electric farm tractor market. Increased environmental awareness has bolstered efforts to limit air, water, and soil pollution, which made companies invest in electric farm tractor production. For instance, in November 2023, AGCO and BMZ collaborated to develop battery-powered agricultural machinery including the Fendt e100 Vario Battery Electric Tractor. This partnership seeks to promote sustainable agriculture by integrating electric and autonomous technology, contributing to the advancement of environment-friendly farming practices.
In November 2023, Fendt expanded its offerings by introducing the e107 V Vario, a small electric tractor. The battery has a capacity of 100-kilowatt hours and produces approximately 70 horsepower; the company claims it can work for four to seven hours on a full charge. Plug it in for 45 minutes during lunchtime and it can increase from 20% to 80%.
In June 2023, the Rwandan government and Volkswagen partnered to introduce locally assembled electric tractors to enhance agricultural production while reducing carbon emissions. Through the GenFarm Project, led by Rwanda’s Ministry of Agriculture, this initiative seeks to modernize the agricultural sector, promoting sustainability and mechanization to boost productivity in the country. The GenFarm Project serves as a sustainable hub where farmers can reserve an e-tractor equipped with a trained driver. By utilizing locally assembled Volkswagen electric tractors, Rwanda is embracing advanced agricultural practices and emphasizing its commitment to environmental sustainability.
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Market Coverage
- The market number available for – 2023-2031
- Base year- 2023
- Forecast period- 2024-2031
Segment Covered-
- By Type
- By Drivetrain Technology
Regions Covered-
- North America
- Europe
- Asia-Pacific
- Rest of the World
Competitive Landscape- Case IH, CLAAS KGaA mbH, Caterpillar, Cummins Inc., Mahindra & Mahindra Limited, Yanmar Holdings Co., Ltd., and John Deere, among others.
Electric Farm Tractor Market Report Segment
By Type
- Light-Duty Tractor
- Medium-Duty Tractor
- Heavy-Duty Tractor
By Drivetrain Technology
- Hybrid
- Plug-in Hybrid
- Battery
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Electric Farm Tractor Market Report Segment by Region
North America
- United States
- Canada
Europe
- UK
- Germany
- Spain
- France
- Italy
- Rest of Europe
Asia-Pacific
- India
- China
- Japan
- South Korea
- Rest of APAC
Rest of the World
- Latin America
- Middle East and Africa
Company Profiles
- Alke s.r.l
- AutoNxt Automation
- AGCO Corporation
- Cummins Inc.
- Deere & Company
- Dongfeng Motor Company
- Fendt (Brand of AGCO Corp.)
- Kubota Corporation
- Mahindra & Mahindra Ltd
- Monarch Tractor
- Solectrac
- International Tractors Limited
- Yanmar Holdings Co., Ltd.
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