Farm Equipment Batteries Market
Farm Equipment Batteries Market Forecasts to 2030 - Global Analysis by Battery Type (Lead-Acid Batteries, Lithium-Ion Batteries, Nickel-Cadmium Batteries and Other Battery Types), Equipment Type, Voltage, Capacity, Sale Channels, Application and By Geography
According to Stratistics MRC, the Global Farm Equipment Batteries Market is accounted for $4.1 billion in 2024 and is expected to reach $8.3 billion by 2030 growing at a CAGR of 12.3% during the forecast period. Farm equipment batteries are energy-storage gadgets made especially to run agricultural tools and machines. The electric power required running electric harvesters, tractors, irrigation systems, and other farm machinery is supplied by these batteries. Farm equipment batteries are generally offered in a variety of forms, such as lead-acid, lithium-ion, and nickel-metal hydride, and are designed to endure severe environmental conditions while maintaining excellent performance for extended periods of time. They contribute significantly to the promotion of sustainable farming methods by cutting emissions and dependency on fossil fuels.
Market Dynamics:
Driver:
Increased mechanization in agriculture
The market for farm equipment batteries is driven by increased agricultural mechanisation, which raises the need for contemporary electrically powered machinery such tractors, harvesters. Batteries are becoming more and more necessary as farms, particularly in developing nations; switch from manual labour to automated alternatives. Compared to conventional fuel-powered machinery, battery-powered equipment has advantages such lower emissions, cheaper operating costs, and increased output. Innovations in battery technology are contributing to this trend and are essential to the modernization and sustainability of farming operations worldwide.
Restraint:
Slow transition from traditional machinery
The market for farm equipment batteries, diesel-powered equipment is common among farmers, who find it to be dependable, comfortable, and reasonably priced. There are significant upfront expenditures associated with switching to battery-powered equipment, as well as a learning curve and worries regarding battery performance in harsh agricultural settings. Adoption is further hampered by the absence of infrastructure for charging in remote locations. Consequently, the gradual transition slows down the growth of the farm equipment battery industry and delays the transition to more environmentally friendly farming practices.
Opportunity:
Innovation in battery technology
Innovation in battery technology and advancements like lithium-ion and solid-state batteries offer higher energy density, faster charging times, and longer operational hours, making them more suitable for heavy-duty agricultural machinery. Improved durability allows batteries to withstand harsh farming conditions, while reduced costs make them more accessible. These innovations also support the growing trend toward electric and autonomous farm equipment, enabling more sustainable and eco-friendly farming practices. As battery technology evolves, it drives the shift from traditional fuel-based equipment to cleaner, efficient alternatives.
Threat:
Competition from alternative energy sources
Competition from alternative energy sources, such as hydrogen fuel cells and biofuels, provide longer operational hours and faster refueling compared to batteries, making them more attractive for heavy-duty agricultural tasks. Similarly, biofuels can be used in existing diesel engines, eliminating the need for costly equipment upgrades. As these technologies advance and gain market acceptance, they may reduce demand for battery-powered farm equipment, posing a challenge to the growth and hinders the farm equipment batteries market by offering viable alternatives to battery-powered machinery.
Covid-19 Impact:
The COVID-19 pandemic had a mixed impact on the farm equipment batteries market. Supply chain disruptions and factory shutdowns caused delays in the production and delivery of batteries, affecting the availability of farm machinery. However, agriculture remained an essential sector, driving a steady demand for farm equipment. The pandemic accelerated the adoption of automation and electric equipment as labour shortages became a concern, boosting interest in battery-powered solutions. Additionally, government stimulus packages and subsidies to support sustainable farming practices further supported market growth. Overall, COVID-19 highlighted the importance of innovation and resilience in the agricultural sector.
The harvesters segment is expected to be the largest during the forecast period
The harvesters segment is expected to be the largest during the forecast period by contributing to the growing demand for battery-powered agricultural machinery. Harvesters are crucial for large-scale farming, and the shift toward electric harvesters. Battery-powered harvesters offer advantages like lower fuel costs, reduced maintenance, and quieter operation. As more farmers adopt electric harvesters to meet environmental regulations and lower operational expenses, the demand for high-performance batteries rises, making the harvester segment a key driver of growth in the farm equipment batteries market.
The agricultural segment is expected to have the highest CAGR during the forecast period
The agricultural segment is expected to have the highest CAGR during the forecast period, owing to the increased demand for efficient. As farms adopt more mechanized tools like electric tractors, harvesters, and irrigation systems, the need for reliable, long-lasting batteries grows. The push for eco-friendly practices and reduced carbon emissions encourages the shift from traditional diesel-powered equipment to battery-operated alternatives. Additionally, advancements in battery technology, such as longer operational life and faster charging times, cater to the needs of modern agriculture, further propelling the market.
Region with largest share:
North America is projected to hold the largest market share during the forecast period due to advanced agricultural sector and growing adoption of electric machinery. With increasing mechanization in farming, the demand for battery-powered equipment and irrigation systems is rising. Additionally, strong government incentives for sustainable and eco-friendly farming practices, particularly in the U.S. and Canada, are accelerating the shift towards battery-operated equipment. The North American market is expected to expand as farmers increasingly prioritize sustainability and automation in agricultural operations.
Region with highest CAGR:
Asia Pacific is projected to witnesss the highest CAGR over the forecast period by the region’s expanding agricultural sector and increasing mechanization of farming practices. Countries like China, India, and Japan are at the forefront, with rising demand for advanced, battery-powered machinery to enhance agricultural productivity. Government initiatives promoting sustainable farming and reduced carbon emissions are further boosting the adoption of electric equipment. Additionally, the improvements in battery technology, combined with affordable solutions, are expected to accelerate growth in Asia Pacific.
Key players in the market
Some of the key players in Farm Equipment Batteries market include Amara Raja Batteries Ltd., Bosch, Clarios, Contemporary Amperex Technology Co. Ltd., Crown Battery Manufacturing, Duracell, East Penn Manufacturing, Enersys, Exide Technologies, FIAMM Energy Technology, GS Yuasa Corporation, John Deere, Lester Electrical, Luminous Power Technologies, Midac Batteries, Panasonic Corporation, Sonnenschein Batteries, Tata Green Batteries, Trojan Battery Company and VARTA AG.
Key Developments:
In September 2024, Panasonic connected projection technology to illuminate BLINK® Cincinnati; this collaboration underscores Panasonic Connect’s dedication to artistic endeavors that push the boundaries of traditional art forms.
In June 2024, Panasonic expanded AV Solution Suite at InfoComm to power innovative and engaging visual experiences across industries. This helped customers worry less about the technology setup, and more about how they can take their creativity and audience experience to the next level.
In May 2024, Panasonic launched new LUMIX S9 compact full-frame mirrorless camera. With this Panasonic aims to bring a new enjoyable shooting experience for creators, making the journey from capturing moments to sharing them with the world.
Battery Types Covered:
• Lead-Acid Batteries
• Lithium-Ion Batteries
• Nickel-Cadmium Batteries
• Other Battery Types
Equipment Types Covered:
• Tractors
• Harvesters
• Irrigation Equipment
• Balers
• Planters and Seeders
• Sprayers
• Other Equipment Types
Voltages Covered:
• 12V
• 24V
• 48V
• Other Voltages
Capacities Covered:
• Less than 100 Ah
• 100 Ah - 200 Ah
• More than 200 Ah
Sales Channels Covered:
• Original Equipment Manufacturer
• Aftermarket
• Other Sales
Applications Covered:
• Agricultural
• Construction & Forestry
• Livestock Farming Equipment
• Other Applications
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2022, 2023, 2024, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Application Analysis
3.7 Emerging Markets
3.8 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Farm Equipment Batteries Market, By Battery Type
5.1 Introduction
5.2 Lead-Acid Batteries
5.3 Lithium-Ion Batteries
5.4 Nickel-Cadmium Batteries
5.5 Other Battery Types
6 Global Farm Equipment Batteries Market, By Equipment Type
6.1 Introduction
6.2 Tractors
6.3 Harvesters
6.4 Irrigation Equipment
6.5 Balers
6.6 Planters and Seeders
6.7 Sprayers
6.8 Other Equipment Types
7 Global Farm Equipment Batteries Market, By Voltage
7.1 Introduction
7.2 12V
7.3 24V
7.4 48V
8 Global Farm Equipment Batteries Market, By Capacity
8.1 Introduction
8.2 Less than 100 Ah
8.3 100 Ah - 200 Ah
8.4 More than 200 Ah
9 Global Farm Equipment Batteries Market, By Sale Channels
9.1 Introduction
9.2 Original Equipment Manufacturer
9.3 Aftermarket
9.4 Other Sale Channels
10 Global Farm Equipment Batteries Market, By Application
10.1 Introduction
10.2 Agricultural
10.3 Construction & Forestry
10.4 Livestock Farming Equipment
10.5 Other Applications
11 Global Farm Equipment Batteries Market, By Geography
11.1 Introduction
11.2 North America
11.2.1 US
11.2.2 Canada
11.2.3 Mexico
11.3 Europe
11.3.1 Germany
11.3.2 UK
11.3.3 Italy
11.3.4 France
11.3.5 Spain
11.3.6 Rest of Europe
11.4 Asia Pacific
11.4.1 Japan
11.4.2 China
11.4.3 India
11.4.4 Australia
11.4.5 New Zealand
11.4.6 South Korea
11.4.7 Rest of Asia Pacific
11.5 South America
11.5.1 Argentina
11.5.2 Brazil
11.5.3 Chile
11.5.4 Rest of South America
11.6 Middle East & Africa
11.6.1 Saudi Arabia
11.6.2 UAE
11.6.3 Qatar
11.6.4 South Africa
11.6.5 Rest of Middle East & Africa
12 Key Developments
12.1 Agreements, Partnerships, Collaborations and Joint Ventures
12.2 Acquisitions & Mergers
12.3 New Product Launch
12.4 Expansions
12.5 Other Key Strategies
13 Company Profiling
13.1 Amara Raja Batteries Ltd.
13.2 Bosch
13.3 Clarios
13.4 Contemporary Amperex Technology Co. Ltd.
13.5 Crown Battery Manufacturing
13.6 Duracell
13.7 East Penn Manufacturing
13.8 Enersys
13.9 Exide Technologies
13.10 FIAMM Energy Technology
13.11 GS Yuasa Corporation
13.12 John Deere
13.13 Lester Electrical
13.14 Luminous Power Technologies
13.15 Midac Batteries
13.16 Panasonic Corporation
13.17 Sonnenschein Batteries
13.18 Tata Green Batteries
13.19 Trojan Battery Company
13.20 VARTA AG
List of Tables
1 Global Farm Equipment Batteries Market Outlook, By Region (2022-2030) ($MN)
2 Global Farm Equipment Batteries Market Outlook, By Battery Type (2022-2030) ($MN)
3 Global Farm Equipment Batteries Market Outlook, By Lead-Acid Batteries (2022-2030) ($MN)
4 Global Farm Equipment Batteries Market Outlook, By Lithium-Ion Batteries (2022-2030) ($MN)
5 Global Farm Equipment Batteries Market Outlook, By Nickel-Cadmium Batteries (2022-2030) ($MN)
6 Global Farm Equipment Batteries Market Outlook, By Other Battery Types (2022-2030) ($MN)
7 Global Farm Equipment Batteries Market Outlook, By Equipment Type (2022-2030) ($MN)
8 Global Farm Equipment Batteries Market Outlook, By Tractors (2022-2030) ($MN)
9 Global Farm Equipment Batteries Market Outlook, By Harvesters (2022-2030) ($MN)
10 Global Farm Equipment Batteries Market Outlook, By Irrigation Equipment (2022-2030) ($MN)
11 Global Farm Equipment Batteries Market Outlook, By Balers (2022-2030) ($MN)
12 Global Farm Equipment Batteries Market Outlook, By Planters and Seeders (2022-2030) ($MN)
13 Global Farm Equipment Batteries Market Outlook, By Sprayers (2022-2030) ($MN)
14 Global Farm Equipment Batteries Market Outlook, By Other Equipment Types (2022-2030) ($MN)
15 Global Farm Equipment Batteries Market Outlook, By Voltage (2022-2030) ($MN)
16 Global Farm Equipment Batteries Market Outlook, By 12V (2022-2030) ($MN)
17 Global Farm Equipment Batteries Market Outlook, By 24V (2022-2030) ($MN)
18 Global Farm Equipment Batteries Market Outlook, By 48V (2022-2030) ($MN)
19 Global Farm Equipment Batteries Market Outlook, By Capacity (2022-2030) ($MN)
20 Global Farm Equipment Batteries Market Outlook, By Less than 100 Ah (2022-2030) ($MN)
21 Global Farm Equipment Batteries Market Outlook, By 100 Ah - 200 Ah (2022-2030) ($MN)
22 Global Farm Equipment Batteries Market Outlook, By More than 200 Ah (2022-2030) ($MN)
23 Global Farm Equipment Batteries Market Outlook, By Sale Channels (2022-2030) ($MN)
24 Global Farm Equipment Batteries Market Outlook, By Original Equipment Manufacturer (2022-2030) ($MN)
25 Global Farm Equipment Batteries Market Outlook, By Aftermarket (2022-2030) ($MN)
26 Global Farm Equipment Batteries Market Outlook, By Other Sale Channels (2022-2030) ($MN)
27 Global Farm Equipment Batteries Market Outlook, By Application (2022-2030) ($MN)
28 Global Farm Equipment Batteries Market Outlook, By Agricultural (2022-2030) ($MN)
29 Global Farm Equipment Batteries Market Outlook, By Construction & Forestry (2022-2030) ($MN)
30 Global Farm Equipment Batteries Market Outlook, By Livestock Farming Equipment (2022-2030) ($MN)
31 Global Farm Equipment Batteries Market Outlook, By Other Applications (2022-2030) ($MN)
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.
List of Figures
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
For more details about research methodology, kindly write to us at info@strategymrc.com
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