The global autonomous tractors market size was $648.9 million in 2016, and is projected to reach $4,389.8 million in 2025, growing at a CAGR of 24.0%. Factors such as improved operational proficiency and enhanced productivity of crop yields, and increased support initiatives by governments to adopt newer technologies propel the demand for autonomous tractors globally. Moreover, these tractors help farmers by offering beneficial information related to soil conditions, crop yield, fuel consumption rate, and others, thus driving the market growth.
However, high initial investment and maintenance costs required by these tractors are major challenges faced by the players operating in the industry. Growth in demand for innovative & advanced technological tractors offer promising opportunities for players in the autonomous tractors industry. Moreover, increase in use of drones in autonomous tractors provides lucrative business opportunity to the players.
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The key players profiled in this report are AGCO Corporation, Autonomous Solutions, Inc., Autonomous Tractor Corporation, CNH Industrial, Deere & Company, KINZE Manufacturing, Kubota Corporation, Mahindra & Mahindra, Trimble, and Yanmar.
The global autonomous tractors market is segmented based on component, application, and region. Based on components, the market is categorized into sensor, GPS, vision system, and others. The GPS segment is projected to dominate the global market throughout the study period. Based on application, the market is categorized into tillage, harvesting, irrigation, seed sowing, spraying, and fertilizing. The tillage segment accounts for the maximum market share.
The global autonomous tractors market is analyzed across four geographical regions, i.e., North America (U.S., Canada, and Mexico), Europe (UK, Germany, France, Russia, and Rest of Europe), Asia-Pacific (China, India, Japan, Australia, and Rest of Asia-Pacific), and LAMEA (Latin America, Middle East, and Africa). North America is expected to dominate the market throughout the forecast period. LAMEA is projected to grow at the fastest rate, followed by Europe.
KEY BENEFITS FOR STAKEHOLDERS
The study provides an in-depth analysis of the global autonomous tractors market, and current & future trends to elucidate the imminent investment pockets.
Information about key drivers, restraints, and opportunities and their impact analysis on the market of autonomous tractors is provided.
Porter’s five forces analysis illustrates the potency of buyers and suppliers operating in the industry.
The quantitative analysis of the global market from 2016 to 2025 is provided to determine the market potential.
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Table Of Contents
Chapter 1: Introduction
Chapter 2: Executive Summary
Chapter 3: Market Overview
Chapter 4: Autonomous Tractors Market By Components
Chapter 5: Autonomous Tractors Market, By Application
Chapter 6: Autonomous Tractors Market By Geography
Chapter 7: Company Profiles
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