Global Autonomous Tractors Market Size, Share & Industry Trends Analysis Report By Crop Type (Fruits & Vegetables, Oilseeds & Pulses, and Cereals & Grains), By Component, By Farm Application, By Power Output, By Regional Outlook and Forecast, 2023 - 2029
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Get in-depth analysis of the COVID-19 impact on the Autonomous Tractors Market
Market Report Description
The Global Autonomous Tractors Market size is expected to reach $4 billion by 2029, rising at a market growth of 20.0% CAGR during the forecast period.
Autonomous tractors are a form of agricultural machinery that can operate without the presence of a driver. Autonomous tractors' technology, such as vision systems, GPS systems, and sensors, allows them to function continuously without constant human input. Therefore, efficiency improvement and reduced human intervention are the main goals in developing autonomous tractors.
Growing demand for agricultural yields results from the market for autonomous tractors. Moreover, managing the effectiveness of activities like tillage, seed sowing, harvesting, and fertilizing is important because cultivable land is limited, and the farm's output depends on outside environmental conditions. The accuracy of many farming procedures is greatly improved by using autonomous tractors, which also increases farm output.
Tractors are very versatile and can be connected to various things, making them difficult to control and vulnerable to human mistakes. To reduce these errors, autonomous tractors are used. Furthermore, with the help of autonomous tractors, farmers can effectively manage several farming operations at once and maximize the use of their labor. In addition, employing self-driving tractors for tasks like seeding and tillage greatly improves irrigation water efficiency.
Due to the increased cost of farm labor, agricultural labor is declining. To replace manual labor and provide more affordable, accessible, and effective agricultural operations, farmers are increasingly turning to agricultural mechanization. Driving agricultural equipment is primarily accomplished by tractors. On a long-term basis, this has been seen to support market expansion.
COVID-19 Impact Analysis
As the COVID-19 vaccine enters the market, it is also anticipated that the number of cases of COVID-19 will decline in the near future. The result has been the full-scale reopening of businesses that manufacture autonomous tractors. Autonomous tractor manufacturers must concentrate on securing their personnel, business operations, and supply networks as COVID-19 infection cases diminish. This will allow them to deal with immediate crises and implement new operational procedures. Thus, the autonomous tractors market witnessed a positive impact of the COVID-19 outspread.
Market Growth Factors
Rising government initiatives in order to support the farmers
The government spends a lot of money on various subsidies. It is difficult for farmers to buy this equipment with restricted finance sources since farm equipment like combines, tractors, and harvesters, is expensive. The governments of several countries also supply agricultural equipment, where help is given for farm mechanization and women-friendly tools and equipment. Intending to encourage farmers to embrace autonomous equipment and boost crop productivity, numerous governments have expanded their support through better subsidies and credits. This is estimated to support the growth of the autonomous tractors market.
Dearth of farm labor and reduced arable land
Considering the current challenges, farmers are adopting technology like autonomous tractors, which can be productive because technologically aided agriculture requires qualified manpower, of which there is an urgent scarcity. Therefore, this circumstance is one of the main things that propel the market forward. The number of agricultural laborers in India is anticipated to fall dramatically in the next years, according to the Indian Council of Food and Agriculture (ICFA). Farmers are embracing innovations like autonomous tractors that can be productive in light of the current difficulty, as agriculture needs trained personnel, but there is a severe scarcity of availability. As a result, the market is projected to expand in the years to come.
Market Restraining Factors
Lack of advanced tools to collect the data points
The issue of using these new technologies to collect data from crops is to produce something cohesive and meaningful, as data by themselves are pointless. It's possible that autonomous tractors won't be as flexible as a human operator to adjust to shifting conditions or unforeseen impediments. In addition, collecting and examining such data need a lot of time and effort. Because of these constraints, the adoption of autonomous technology, like autonomous tractors, may be slowed down, ultimately impeding the expansion of the autonomous tractors market during the projection period.
On the basis of power, the autonomous tractors market is segmented into up to 30 HP, 31-100 HP, and 101 HP & above. In 2022, the 31-100 HP segment covered a considerable revenue share in the autonomous tractors market. This segment's expansion is mostly driven by the strong demand for 31-100 HP tractors to carry out various farming tasks like planting, harvesting, sowing, and tilling. These tractors are perfect for transporting because of their durability and loading capacity. Additionally, tractors in the 31-100 HP range are adaptable and offer excellent work efficiency in clay soil.
By component, the autonomous tractors market is fragmented into LiDAR, radar, GPS, camera/ vision systems, ultrasonic sensors, and hand-held devices. The GPS segment acquired a substantial revenue share in the autonomous tractors market in 2022. Due to the precision of GPS, farmers are able to produce farm maps that properly represent the size of field areas, the position of roads, and the distances between locations of interest. With the use of all this crucial information, farmers may adjust their farming practices to increase productivity. The popularity of GPS-enabled gadgets is anticipated to rise as a result of these advantages, consequently fostering the segment's expansion.
Crop Type Outlook
Based on crop type, the autonomous tractors market is bifurcated into cereals & grains, oilseeds & pulses, and fruit & vegetables. In 2022, the fruit & vegetables segment dominated the autonomous tractors market with the maximum revenue share. Due to the growing demand for fruits & vegetables brought on by the increase in world population, this segment holds a sizable market share. Fruits & vegetables must be weeded and harvested by hand. As a result, there is a rise in the need for cutting-edge technologies, like autonomous tractors, to perform labour-intensive farming.
Farm Application Outlook
On the basis of farm application, the autonomous tractors market is classified into tillage (primary & secondary tillage), seed sowing., harvesting, and others. In 2022, the tillage segment registered the highest revenue share in the autonomous tractors market. Technology developments and numerous agronomic research and development initiatives are also credited with this segment's expansion. Additionally, there is a growing demand for automation of tillage on large and medium-sized farms worldwide that grow row crops because manual tillage tasks are more costly and time-consuming.
|Market size value in 2022||USD 1.1 Billion|
|Market size forecast in 2029||USD 4 Billion|
|Historical Period||2019 to 2021|
|Forecast Period||2023 to 2029|
|Revenue Growth Rate||CAGR of 20% from 2023 to 2029|
|Number of Pages||281|
|Number of Table||483|
|Report coverage||Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Competitive Landscape, Companies Strategic Developments, Company Profiling|
|Segments covered||Component, Crop Type, Farm Application, Power Output, Region|
|Country scope||US, Canada, Mexico, Germany, UK, France, Russia, Spain, Italy, China, Japan, India, South Korea, Australia, Malaysia, Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria|
Region wise, the autonomous tractors market is analysed across North America, Europe, Asia Pacific and LAMEA. In 2022, the North America region led the autonomous tractors market by generating the highest revenue share. Large farm sizes in North America contribute to the rapid adoption of advanced technologies, which is responsible for the region's growth. Labor shortages are a problem for farmers in affluent nations like the U.S. Therefore, to overcome these difficulties, farmers adopt cutting-edge farming machinery, like autonomous tractors, fueling the market's expansion.
Free Valuable Insights: Global Autonomous Tractors Market size to reach USD 4 Billion by 2029
KBV Cardinal Matrix - Autonomous Tractors Market Competition Analysis
The major strategies followed by the market participants are Partnerships. Based on the Analysis presented in the Cardinal matrix; Deere & Company are the forerunners in the Autonomous Tractors Market. Companies such as CNH Industrial N.V., KUBOTA Corporation and AGCO Corporation are some of the key innovators in the Autonomous Tractors Market.
The market research report covers the analysis of key stakeholders of the market. Key companies profiled in the report include KUBOTA Corporation, CNH Industrial N.V., Deere & Company, AGCO Corporation, Mahindra & Mahindra Limited (Mahindra Group), Kinze Manufacturing, Inc., Alamo Group Inc. (Dutch Power B.V.), Yanmar Holdings Co., Ltd., Trimble, Inc. and Autonomous Tractor Corporation.
Recent Strategies Deployed in Autonomous Tractors Market
» Partnerships, Collaborations and Agreements:
- Mar-2023: Mahindra & Mahindra partnered with the State Bank of India, an Indian multinational public sector bank, to offer easy loan options for tractors and farm machinery products all over India. With this partnership, SBI would finance Mahindra’s broad range of tractors and farm machinery enabling customers to easily get financing options for various tractors and farm machinery while visiting the Mahindra Tractor dealership.
- Jun-2022: AGCO expanded its partnership with Apex.AI., an autonomous software developer. Through this partnership, Apex.OS, an elemental software framework and development kit facilitating the development of powerful autonomous capabilities, would strengthen AGCO to apply safety-critical applications from autonomous driving that can be deployed all over the line of solutions worldwide.
- Nov-2021: CNH Industrial signed a licensing agreement with Monarch Tractor, an American-based AgTech company that specializes in fully electric autonomous tractors. With this agreement, both companies would combine their respective expertise to develop a modular electrification platform aiming at low horsepower tractors, empowering CNH Industrial to amplify its internal electrification capabilities and generate innovative electrified platforms faster.
» Product Launches and Product Expansions:
- Jan-2023: Deere announced the launch of ExactShot™ and an Electric Excavator, the latest technologies facilitating Deere's customers to become more productive. ExactShot technology utilizes sensors and robotics to locate starter fertilizer sharply onto seeds when put in the soil enabling farmers to mitigate the amount of starter fertilizer required during planting, Whereas Electric Excavator would deliver construction workforce and road builders the less operating costs, powerful machine reliability, and enhanced performance.
- Dec-2022: CNH Industrial made enhancements in adding capabilities to its equipment and a full-electric tractor. The new autonomous potential would facilitate enhancing farmer productivity. The improved solutions would be Driverless Tillage, Driver Assist Harvest, and Baler Automation. Driver Assist Harvest solution combines Raven Autonomy with Case IH's harvest technology, allowing the system to chart the way and speed of the tractor easing out to pull the grain cart beside a combine harvester, while Driverless tillage enables remote operation from outside of an operator cab utilizing an advanced Perception System and Remote Command & Control capability from Raven, whereas Baler Automation uses a lidar sensor.
- Jan-2022: Deere released a fully autonomous tractor beneficial in wide-ranging production. The machine consolidates Deere's 8R tractor, TruSet-enabled chisel plow, GPS guidance system, and powerful technologies. The autonomous tractor would possess six pairs of stereo cameras capable of detecting barriers all around 360 degrees and easily calculating distance. Moreover, the machine would examine its position with respect to a geofence, easing out the operations.
- Aug-2021: Kinze made enhancements in adding capabilities to its True Speed Planter portfolio. Kinze's 4905 True Speed planter was introduced in 16 and 24-row models, empowering corn and soybean farmers with the capabilities in seed placement at higher speeds. The fast-paced technology would allow farmers to precisely double-fold the acres planted. The expansion of the True Speed portfolio incorporates 4905 12R30 configuration for minor operations, 31/32R15 split-row and 16R30 configurations of the Kinze 3665-a 15-inch soybean planter for high-residue circumstances, 24R30 and 36R20 configurations of the 4705 elevated-flotation planter for limited width crops.
- Feb-2021: Yanmar made enhancements in adding capabilities to its autonomous tractor series. The upgraded robot/auto tractors would use a multi-frequency antenna for balanced connection and precise positioning providing a safe and enhanced performing autonomous tractor.
» Acquisitions and Mergers:
- Mar-2023: CNH Industrial acquired Augmenta, a machine vision enterprise, to drive the growth of innovative Sense & Act technology. With this acquisition, Augmenta’s technology would accelerate the enhancement of Sense & Act capabilities, helpful in providing customers with the machine selective potential beneficial in directing and controlling the spray volume.
- Mar-2023: Mahindra & Mahindra Limited completed the acquisition of MITRA Agro Equipment’s Private Limited, a spraying machine developer. With this acquisition, leveraging the power of MITRA in providing advanced spraying machines would enable Mahindra to strengthen its farm machinery business beneficial in well positioning Mahindra & Mahindra in the horticulture market.
- May-2022: AGCO took over JCA Industries, developer of autonomous software for agricultural machines, implement controls and electronic system components. With this acquisition, JCA's autonomous machine technologies would empower AGCO's supplying capabilities of machine automation and autonomous systems enhancing farmer productivity.
- Oct-2021: Kubota signed an acquisition agreement with AgJunction, an advanced guidance, and autosteering solutions provider for precision agriculture applications. Through this agreement, Kubota would acquire AgJunction, enabling Kubota to leverage the powers of AgJunction’s technologies helpful in achieving Kubota's aim of developing a framework for technologies related to automation and autonomy, connectivity.
- Aug-2021: Deere & Company took over Bear Flag Robotics, an agriculture technology startup, to advance autonomous technology on the Farm. With this acquisition, Bear Flag's technology would be combined with Deere's technology targets facilitating farmers acquiring enhanced outcomes through advanced technology, including autonomy.
Scope of the Study
Market Segments Covered in the Report:
By Crop Type
- Fruits & Vegetables
- Oilseeds & Pulses
- Cereals & Grains
- Camera/Vision Systems
- Ultrasonic Sensors
- Hand-held Devices
By Farm Application
- Seed Sowing
By Power Output
- 101 HP & Above
- 31 - 100 HP
- Below 30 HP
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Saudi Arabia
- South Africa
- Rest of LAMEA
Key Market Players
List of Companies Profiled in the Report:
- KUBOTA Corporation
- CNH Industrial N.V.
- Deere & Company
- AGCO Corporation
- Mahindra & Mahindra Limited (Mahindra Group)
- Kinze Manufacturing, Inc.
- Alamo Group Inc. (Dutch Power B.V.)
- Yanmar Holdings Co., Ltd.
- Trimble, Inc.
- Autonomous Tractor Corporation
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North America Autonomous Tractors Market Report 2023-2029
Europe Autonomous Tractors Market Report 2023-2029
Asia Pacific Autonomous Tractors Market Report 2023-2029
What would be the size of this market by 2029?
The Market size is projected to reach USD 4 billion by 2029.
What are the key driving factors and challenges in this market?
Rising government initiatives in order to support the farmers are driving the market in coming years, however, Lack of advanced tools to collect the data points restraints the growth of the market.
What are the major top companies in the competitive landscape?
KUBOTA Corporation, CNH Industrial N.V., Deere & Company, AGCO Corporation, Mahindra & Mahindra Limited (Mahindra Group), Kinze Manufacturing, Inc., Alamo Group Inc. (Dutch Power B.V.), Yanmar Holdings Co., Ltd., Trimble, Inc. and Autonomous Tractor Corporation.
Which segment is leading the market in 2022?
The Radar segment is leading the Market by Component in 2022 thereby, achieving a market value of $1.2 billion by 2029.
Which region dominated the market in 2022?
The North America market dominated the Market by Region in 2022 and would continue to be a dominant market till 2029; thereby, achieving a market value of $1.7 billion by 2029.