Global Hydrogen Powered Tractor Market is valued approximately USD $$million in 2021 and is anticipated to grow with a healthy growth rate of more than $$% over the forecast period 2022-2028.
The Hydrogen Powered Tractor also known as Fuel Cell Tractors are powered by hydrogen fuel. Unlike traditional tractors these tractors do not store energy but convert chemical energy to electric energy. The increasing demand for low-carbon transport fuel and rising adoption of Fuel Cell Vehicles as well as Strategic initiatives from leading market players are factors that are accelerating the global market demand. For instance, according to International Energy Agency estimates – during 2019, Globally the number of commercial fuel cell vehicles were estimated at 1.84 thousand and this number is further increased to 3.22 thousand in 2020. Furthermore, the market is witnessing innovative product launches from leading market players. For instance, in June 2020, National Institute of Agro-machinery Innovation and Creation (CHIAIC) launched China’s first hydrogen fuel-cell electric tractor.
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Moreover, in October 2020, In October 2020 Utrecht, Netherlands based Terberg Group started testing of its first concept hydrogen-powered terminal tractor at UWT in the Port of Rotterdam. Also, rising concern over environmental degradation and increasing R&D activities in Fuel Cell technology are anticipated to act as a catalyzing factor for the market demand during the forecast period. However, a high capital requirement for Hydrogen production and lack of penetration in developing regions impede the growth of the market over the forecast period of 2022-2028.
The key regions considered for the global Hydrogen Powered Tractor Market study include Asia Pacific, North America, Europe, Latin America, and the Rest of the World. North America is the leading region across the world in terms of market share owing to the growing adoption hydrogen powered vehicles and presence of leading market players. Whereas, Asia Pacific is anticipated to exhibit a significant growth rate over the forecast period 2022-2028. Factors such as the thriving growth of agriculture and mining sector as well as increasing adoption of sustainable fuel alternatives, would create lucrative growth prospects for the global Hydrogen Powered Tractor Market across the Asia Pacific region.
Major market players included in this report are:
Allis Chalmers
Amogy, Inc
Ballard Power Systems
Blue Fuel Solutions
CNH Industrial N.V.
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Cummins Inc.
Deere Company
Deutz Fahr group
Fendt
Hyster Yale Group
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Installation
OEM
Retrofit
By Product
Proton Exchange Membrane Fuel Cell
Phosphoric Acid Fuel Cell
Solid Oxide Fuel Cell
By Application
Agriculture
Industries
Mining
By Capacity
Less Than 25 tonnes
More Than 25 tonnes
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By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World
Table of Content:
- Report Overview
- Global Growth Trends
- Competition Landscape by Key Players
- Data Segments
- North America Market Analysis
- Europe Market Analysis
- Asia-Pacific Market Analysis
- Latin America Market Analysis
- Middle East & Africa Market Analysis
- Key Players Profiles Market Analysis
- Analysts Viewpoints/Conclusions
- Appendix
Here is an overview of the different factual statements covered by the study:
- The learn about consists of an area that breaks down strategic traits for the primary gamers in present and upcoming R&D, new product launches, collaborations, regional expansion, and mergers & acquisitions.
- The lookup focuses on essential market traits such as revenue, product cost, potential and utilization rates, import/export rates, supply/demand figures, market share and CAGR.
- The learn about is a series of analyzed records and a variety of barrels of house bought via a mixture of analytical equipment and an inside look up process.
- The Market can be divided into 4 areas in accordance to the regional breakdown: North American Markets, European Markets, Asian Markets and Rest of the World.
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