The Europe Autonomous Tractors Market would witness market growth of 19.7% CAGR during the forecast period (2023-2029).
A strong need exists to increase agricultural operations' effectiveness to meet the growing global demand for food in light of the recent dramatic growth in the global population. In addition, agricultural labor has also significantly decreased as a result of rising urbanization. Therefore, due to these factors, farmers were compelled to look for methods and substitutes to boost yields and productivity to meet demand. Furthermore, there is a growing need to increase the effectiveness of agricultural activities because cultivable land is limited, and farm productivity depends on environmental factors. This is one of the main factors fueling the demand for autonomous tractors, along with farmers' increased focus on enhancing agricultural production.
Using multiple farming tasks at once is made possible by autonomous tractors, which increase labor productivity. Additionally, as a result of government initiatives to develop the industry, investments have increased in the agricultural industry, which has led to the autonomous tractor market's continued growth in a positive manner. Additionally, the global movement toward self-sustaining agricultural mechanization programs and the growing use of autonomous tractors to guarantee sustainable food security are propelling the market growth.
Various government initiatives have been launched to promote the adoption of cutting-edge agricultural practices to boost crop production and productivity. For instance, the European Union has developed financial incentives and assistance programs as part of the new European Common Agricultural Policy to entice farmers to spend money on precision farming tools. To simplify agricultural processes, leading manufacturers are creating farm management systems, sensing and monitoring equipment, automation and control systems, as well as additional systems and equipment. It is predicted that the regional market for autonomous tractors will rise due to the growing popularity of precision farming.
The Germany market dominated the Europe Autonomous Tractors Market by Country in 2022 and would continue to be a dominant market till 2029; thereby, achieving a market value of $248.5 million by 2029. The UK market is anticipated to grow at a CAGR of 18.7% during (2023 - 2029). Additionally, The France market would exhibit a CAGR of 20.6% during (2023 - 2029).
Based on Crop Type, the market is segmented Fruits & Vegetables, Oilseeds & Pulses, and Cereals & Grains. Based on Component, the market is segmented into Radar, GPS, Camera/Vision Systems, Ultrasonic Sensors, LiDAR, and Hand-held Devices. Based on Farm Application, the market is segmented into Tillage, Harvesting, Seed Sowing, and Others. Based on Power Output, the market is segmented into 101 HP & Above, 31 - 100 HP, and Below 30 HP. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: The Worldwide Autonomous Tractors Market is Projected to reach USD 4 Billion by 2029, at a CAGR of 20%
The market research report covers the analysis of key stake holders 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.
By Crop Type
By Component
By Farm Application
By Power Output
By Country
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