Industrial Vehicles Market Size to Hit USD 64.3 Billion by 2030
The global industrial vehicles market growth is projected to grow from USD 49.2 Billion in 2024 to USD 64.3 Billion by 2030, at a CAGR of 4.6%. The industrial vehicles market is experiencing steady growth due to increased automation and efficiency demands in warehouses and manufacturing facilities. Additionally, the expansion of e-commerce and logistics sectors drives the demand for material handling...
Electric Tractor Market Size is Projected to Reach USD 3.4 billion by 2030
The global electric tractor market growth is projected to grow from USD 0.7 billion in 2024 to USD 3.4 billion by 2030, at a CAGR of 28.3% during the forecast period. The electric tractor market is being driven by growing stringency in emission regulations, advancements in battery technology, and government incentives & regulations.
The battery electric tractors hold the largest market for...
High Labor Costs Have Led to a Strong Demand for Tractor Implements
The growing
population is one of the major factors contributing to the increased demand for
food. This, in turn, has led to an increase in the area harvested for important
food crops such as rice, soybean, barley, and wheat, especially in the
developing regions. For instance, according to the FAO, the production of corn
is projected to increase by nearly 600% to reach 1.2 billion MT by 2027. A
majority...