DUBLIN, April 9, 2020 /PRNewswire/ -- The "Global Autonomous Tractors Market - Growth, Trends, and Forecast (2020-2025)" report has been added to ResearchAndMarkets.com's offering.
The global autonomous tractor market was valued at USD 507.61 million in 2018 and is projected to grow at a CAGR of 35% during the period of 2019-2024
The drivers identified in the market are increase in efficiency and farm productivity, increase in labour costs and better management of farm activities.The restraints identified in the market are huge capital investment, lack of awareness among farmers and unanticipated risks in a growing market.
Key Market Trends
Increase in Labour Costs is Driving the Market
The cost of farm labor has a direct relationship with the percentage of the total population of a country employed in agriculture, considering simple demand-supply economics. On an average, developing economies have larger percentages of population dependent on agriculture. However, the percentages have decreased over time. Farmers are increasingly adopting agricultural mechanization as a substitute to manual labor with a more cost-effective, easily available and more efficient means of agricultural operation.They are shifting towards autonomous tractors to save time and resources which in turn is increasing the farm productivity and per acre yield of crops.
Asia-Pacific is the Fastest Growing Market
The global autonomous tractor market is segmented by geography into North America,Europe, Asia Pacific,South America and Africa. Asia Pacific is considered as the fastest growing market because the companies located in Asia Pacific are launching new autonomous tractors in the market and thereby dominating the market with faster innovations and product launches.
In the global autonomous tractor market, companies are not only competing based on equipment quality and promotion, but are also focused on strategic moves, in order to hold larger market shares. The major players in this market are into innovation and launching the new products globally. Since, the inception of the market is very recent, it is considered to be a consolidated market with a few players holding the majority of the shares in the market.
Key Topics Covered
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.3 Market Restraints
4.4 Porter's Five Force Analysis
5 MARKET SEGMENTATION
5.1 Horse Power
5.1.1 Upto 30 HP
5.1.2 31 HP to 100 HP
5.1.3 Above 100 HP
5.2.1 Fully Automated
5.3.1 North America
184.108.40.206 United States
220.127.116.11 Rest of North America
18.104.22.168 Rest of Europe
22.214.171.124 Rest of Asia-Pacific
5.3.4 South America
126.96.36.199 Rest of South America
188.8.131.52 South Africa
184.108.40.206 Rest of Africa
6 COMPETITIVE LANDSCAPE
6.1 Most Adopted Competitor Strategies
6.2 Market Share Analysis
6.3 Company Profiles
6.3.2 John Deere
6.3.3 Mahindra and Mahindra Ltd.
6.3.4 Autonomous Tractor Corporation
6.3.5 CNH Industrial
6.3.6 Kubota Corporation
6.3.7 Dutch Power Company
6.3.8 Yanmar Co. Ltd.
6.3.9 Trimble Inc.
6.3.10 Kinze Manufacturing, Inc.
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information about this report visit https://www.researchandmarkets.com/r/krcysl
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