The global market for electric tractors at present valued at USD 94.04 Million in 2022. The market is anticipated to grow with a CAGR of 13% in the forecast period 2022- 2032. This arcade is likely to cross a valuation of USD 319.23 Million by end of 2032.
Compared to earlier years’ sustainability awareness is increasing and so is the production of alternatives to fossil fuels. The major reason behind alarming research in electric mobility is the need for fossil fuel substitution. This is the key driver of the market in hybrid electric vehicles. The incorporation of electric farm tractors in agrarian applications draws its motivation from the energy efficiency principle.
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