Press release
Agricultural Electric Vehicles Market - Share, Top Key Players Opportunities and Forecasts, 2021-2030
โฆThis study presents the analytical depiction of the agricultural electric vehicles along with the current trends and future estimations to determine the imminent investment pockets.
โฆThe report presents information related to key drivers, restraints, and opportunities along with challenges of the agricultural electric vehicles.
โฆThe current market is quantitatively analyzed to highlight the agricultural electric vehicle growth scenario.
โฆThe report provides a detailed agricultural electric vehicles analysis based on competitive intensity and how the competition will take shape in coming years.
๐๐จ๐ฐ๐ง๐ฅ๐จ๐๐ ๐๐๐ ๐๐๐ฆ๐ฉ๐ฅ๐ - https://www.alliedmarketresearch.com/request-toc-and-sample/12599
Agricultural electric vehicles are vehicles that use an electric motor to obtain drive as opposed to the conventional internal combustion engine. Agricultural electric vehicles are more productive as compared to their IC engine. Electric farm vehicle uses a series of batteries to generate power and have fewer mechanical parts. Furthermore, the trend of consolidation of small farms and their acquisition by commercial farm owners is boosting the need for agricultural vehicles and is further expected to boost the sale of agricultural electric vehicles.
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. Rise in awareness about clean, sustainable farming, and advancement in electric vehicle technologies is anticipated to boost the development of high power agricultural vehicles during the forecast period.
๐๐๐ช๐ฎ๐๐ฌ๐ญ ๐๐ฎ๐ฌ๐ญ๐จ๐ฆ๐ข๐ณ๐๐ญ๐ข๐จ๐ง - https://www.alliedmarketresearch.com/request-for-customization/12599
Low upgrading cost
Low upgrading cost provides huge benefits to customers, which can be in the form of saving the cost of petrol or diesel by substituting with battery vehicles. In addition, hybrid EV has improved the efficiency of agricultural vehicles in terms of fuel as well as government is also supporting the growth of market by providing subsidy and tax benefit on the purchase of agricultural electric vehicles. Companies are spending more on research and development of electric vehicle. For instance, In Nov 2019, CNH Industrial N.V STEYR showcased future farming technology with its STEYR Konzept a hybrid powered concept tractor. Also in March 2020 John deere showcased "Joker" the fully autonomous electric tractor with articulated steering and a tracked single axle. Thus driving the agricultural electric vehicles market.
๐๐ก๐ ๐ค๐๐ฒ ๐ฉ๐ฅ๐๐ฒ๐๐ซ๐ฌ ๐ฉ๐ซ๐จ๐๐ข๐ฅ๐๐ ๐ข๐ง ๐ญ๐ก๐ข๐ฌ ๐ซ๐๐ฉ๐จ๐ซ๐ญ ๐ข๐ง๐๐ฅ๐ฎ๐๐
John Deere, CNH Industrial, AGCO, CLAAS, Mahindra & Mahindra, Mitsubishi Fuso, Motivo Engineering, Cummins, Dongfeng, Kubota
COVID-19 scenario analysis:
COVID-19 has rapidly affected the sale in the automotive industry, thus hampering the growth of global agricultural electric vehicles market as there is no demand agriculture vehicles. The COVID-19 pandemic has affected the heavy equipment (including agricultural electric vehicles) industry significantly as some manufacturers are shutting down plant operations while others are considering to use their efforts to cater to the demand for medical supplies, for instance, Companies, such as Cummins, Mitsubishi had stopped the production of their agricultural vehicles and are focusing on development of personal protective equipment to fight against COVID-19. The EV market is expected to register a significant growth in 2021, but due to COVID-19, the EV market is expected to decline in the near future until the situation becomes stable.
๐ ๐จ๐ซ ๐๐ฎ๐ซ๐๐ก๐๐ฌ๐ ๐๐ง๐ช๐ฎ๐ข๐ซ๐ฒ - https://www.alliedmarketresearch.com/purchase-enquiry/12599
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