Global Autonomous Tractors Market to 2025: Dominated by AGCO, CNH, Mahindra & Mahindra, Deere, Kubota, Yanmar , and Autonomous Tractor Corp
DUBLIN, March 21, 2018 /PRNewswire/ --
The "Autonomous Tractors Market by Power Output (Up to 30 HP, 31-100 HP, 101 HP and Above), Crop Type (Cereals & Grains, Oilseeds & Pulses, Fruits & Vegetables), Farm Application, Component, and Region - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.
The global autonomous tractors market is projected to witness demand for 12,508 Units in 2019 and 60,901 Units by 2025, at a CAGR of 24.89%.
The growth of the autonomous tractors market is expected to be driven by the improved efficiency and productivity of crop yield offered by these tractors and growth in initiatives by governments for the adoption of new technologies. The increase in the average age of farmers in developed countries and decline in the availability of labor are also major factors that will drive the demand for autonomous tractors in the near future.
On the basis of power output, 101 HP & above will account for the largest share, followed by the 31-100 HP power output segment, in 2019. The demand for medium-powered tractors is expected to grow at a higher rate as compared to high-powered autonomous tractors, owing to the benefits of four-wheeled tractors such as better soil quality maintenance & control, and cultivating capacities at a high fuel economy. These tractors are versatile and can be used for multiple applications on and off the field. Owing to these factors, most farmers prefer tractors in this range.
In terms of component, the autonomous tractors market has been segmented into LiDAR, radar, GPS, camera/vision system, ultrasonic sensors, and hand-held devices. The radar segment in the autonomous tractors market is projected to be the largest by 2025. Radar sensors can determine the velocity, range, and angle of moving objects and can work in almost all weather conditions. They are more cost-effective than LiDAR systems but more expensive compared to cameras, which makes them a preferable option to other components considered by manufacturers for incorporation in autonomous tractors.
On the basis of crop type, the autonomous tractors market has been studied for cereals & grains (corn, wheat, rice, and others), oilseeds & pulses (soybean, canola, and others), and fruits & vegetables (orange, vineyards, and others). With the increase in the global population, the demand for fruits & vegetables is also increasing at a rapid pace. A trend shows that weeding and harvesting of fruits & vegetables largely rely on hand labor owing to the fact that fragile fruits & vegetables are delicate, and machinery could damage the crops or the trees that produce them. As a result, new technologies such as autonomous tractors are being developed for fruit & vegetable cultivation.
On the basis of farm application, the global autonomous tractors market has been segmented into (primary and secondary), seed sowing, and harvesting. The tillage segment will dominate the market with the largest share in 2019. With advancements in technology and various research & development activities by agronomists, tillage activities are increasingly being made autonomous for broad acre and row crop farming.
North America is expected to account for the largest share of the autonomous tractors market in 2019. The higher disposable incomes of farmers, lack of trained farm labor, and well-developed technology are the primary reasons for the future expansion of the North American autonomous tractors market. In North America, it being a developed region, the sizes of farms are usually large, and customer loyalty is high. As the arms are large, demand for high-powered tractors in the US is starting to gain traction. The US is the largest market for autonomous tractors in the North American region.
The autonomous tractors market is dominated by AGCO (US), CNH (UK), Mahindra & Mahindra (India), Deere (US), Kubota Corporation (Japan), Yanmar (Japan), and Autonomous Tractor Corporation (US).
Market Dynamics
Drivers
- Improved Efficiency and Productivity Through Improved Crop Yields
- Growth in Trend of Mechanization in the Agricultural Industry
- Favorable Government Initiatives for Adoption of Modern Agricultural Techniques
- Introduction of Autonomous Tractors By Leading Market Players in Developing Countries
- Increase in Average Age of Farmers in Developed Countries
- Decline in Availability of Labor and Increase in Labor Wages
Restraints
- High Initial Capital Investment
- Lack of Technical Knowledge Among Farmers
Opportunities
- Integration of Smartphones With Agricultural Hardware and Software Applications for Autonomous Tractors
Challenges
- Lack of Data Management Practices in Agriculture
- Smaller Land Holdings in Developing Economies
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Autonomous Tractors Market, By Component
7 Autonomous Tractors Market, By Power Output
8 Autonomous Tractors Market, By Crop Type
9 Autonomous Tractors Market, By Farm Application
10 Autonomous Tractors Market, By Region
11 Competitive Landscape
12 Company Profiles
- Agco
- CNH
- Mahindra & Mahindra Ltd.
- Deere & Company
- Kubota Corporation
- Yanmar Co., Ltd.
- Autonomous Tractor Corporation
- Trimble, Inc.
- Agjunction, Inc.
- Raven Industries
- AG Leader Technology
- Dutch Power Company
For more information about this report visit https://www.researchandmarkets.com/research/5gkkxh/global_autonomous?w=5
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SOURCE Research and Markets
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