Asia-Pacific Electric Farm Tractor Market Analysis 2023-2028, with Case Studies of Monarch Tractor Wente Vineyards Energy and Solectrac Mushroom Farm [Yahoo! Finance]
KUBOTA CORP ADR (KUBTY)
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Source: Yahoo! Finance
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. 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 l
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