Autonomous Tractors Market Set to Positively Influence Global Agronomy

  • 08 May 2019

Global Autonomous Tractors Market to grow at a CAGR of over 22% during the forecast period 2019 to 2026.

Ever-expanding population continuously strains the agriculture industry for enhanced crop production in order to fulfil the food and nutrition demands. The emergence of telemetry and autonomous farming machines equipped with relevant agronomic hardware and software has created immense opportunities for autonomous tractors market to handle the food crisis. As the existing farming population is ageing and there is a potential lack of skilled farming labour which creates a need for utilization of autonomous and semi-autonomous tractors for field work. The government inclination towards adoption of automated technologies to improve yield and save labour costs is also facilitating the growth of global autonomous tractors market. Deployment of drones in farming has facilitated managing farming tasks for massive agricultural lands. Round the clock operability of tractors with efficient collision management and crop yield techniques based on soil conditions, weather and so on is profitable than traditional ways.

Senior research consultant at FutureWise, have projected the autonomous tractor market to expand at lightning speed and alter the overall global agronomic canvas during the forecast period from 2019 to 2026.

 

Global Autonomous Tractors Market Restraints

•    High cost involved in designing and development of autonomous tractors.

•    Lack of technology integration in terms of visual components and wireless networks

•    Smaller land holding and negligible awareness about autonomous tractors in developing economies

•    Insufficient agricultural data management practices

•    Limited use of unconventional sources of energy to power the autonomous tractors

 

Global Autonomous Tractors Market, By Component

+ LiDAR

+ Radar

+ GPS

+ Camera/Vision Segments

+ Ultrasonic Sensors

+ Hand-Held Device

Radar and LiDAR systems are efficient in object identification with velocity and movement angle irrespective of weather conditions. Radar is moderately priced and hence prove to be adapted easily as compared to LiDAR and vision systems. Hence Radar segment is expected to grow at lucrative CAGR in future.

 

Global Autonomous Tractors Market, By Power Output

+ Up to 30 HP

+ 31–100 HP

+ 101 HP & Above

Global Autonomous Tractors Market, By Crop Type

+ Cereals & Grains

+ Oilseeds & Pulses

+ Fruits & Vegetables

Global Autonomous Tractors Market, By Farm Application

+ Tillage (Primary & Secondary Tillage)

+ Seed Sowing

+ Harvesting

+ Other Farm Applications

Global Autonomous Tractors Market, By Region 

+ North America 

+ Latin America 

+ Europe 

+ Asia Pacific 

+ Rest of the World 

Apart from the high adoption of automated technology and the presence of autonomous tractor manufacturers, North America and Europe are rich in massive farming lands and grasslands. Hence both the regions are in close competition in terms of global revenue share. Emerging countries in APAC are struggling with a lack of technical knowledge among farmers and the availability of huge labour force. Hence APAC region is estimated to demonstrate potential growth opportunities in adoption of semi-autonomous tractors during the forecasted tenure.

Competitive Landscape:   

+ Tier 1 players- established companies in the market with a major    market share 

+ Tier 2 players  

+ Emerging players which are growing rapidly  

+ New Entrants   

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).The key strategies adopted by these companies to sustain their market position are new product development and acquisitions. 

 

FutureWise Key Takeaways  

+ Growth prospects 

+ SWOT analysis  

+ Key trends  

+ Key data-points affecting market growth  

 

Objectives of the Study:  

+ To provide with an exhaustive analysis on the global autonomous tractors market in terms of power output, farm application, crop type, component, region, major market players and competitive presence for the period 2019 to 2026

+ To cater comprehensive information on factors impacting market growth (drivers, restraints, opportunities, and industry-specific restraints) 

+ To evaluate and forecast micro-markets and the overall market  

+ To predict the market size, in key regions (along with countries)—North America, Europe, Asia Pacific, Latin America, and the Middle East 

+ To record evaluate and competitive landscape mapping- product launches, technological advancements, mergers and expansions 

+ Profiling of companies to evaluate their market shares, strategies, financials and core competencies  

 

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