Published Date: 26-May-2023
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According to a new report, published by KBV research, 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.
The Cereals & Grains segment is showcasing a CAGR of 20.7% during (2023 - 2029). For the purpose of doing various farming tasks without the assistance of a human, autonomous tractors for cereal & grains are agricultural vehicles outfitted with cutting-edge technology like sensors, GPS, and artificial intelligence. The cultivation of cereal grains, including maize, wheat, and rice, is the sole purpose of these tractors.
The Radar segment is leading the Global Autonomous Tractors Market by Component in 2022 thereby, achieving a market value of $1.2 billion by 2029. Radar sensors operate in practically all-weather conditions and can calculate the distance, speed, and angle of moving objects. Additionally, compared to other detection systems, they are far more cost-effective compared to LiDAR systems, making them a better choice for integration into autonomous tractors.
The Harvesting segment has shown the growth rate of 20.2% during (2023 - 2029). Farmers can move freely and yet tend to their crops, land, and seeds due to autonomous driving. Self-driving cars deliver fertilizer and seeds to the areas that need them the most based on sensor data or input from farmers. Despite being unable to hire more workers due to driverless vehicles, farm operators nonetheless perform their responsibilities. A single operator can easily oversee an entire fleet with the use of autonomous driving.
The 101 HP & Above segment is leading the Global Autonomous Tractors Market by Power Output in 2022 thereby, achieving a market value of $1.9 billion by 2029. Due to the advantages of four-wheeled tractors, including superior soil quality maintenance & control and cultivating capacity at a high fuel efficiency, the market for high-powered tractors is anticipated to increase faster. In addition, these tractors can be utilized for a variety of tasks both on and off the field because of their adaptability. Due to these reasons, farmers tend to favor tractors in this power range.
The North America market dominated the Global Autonomous Tractors 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. The Europe market is exhibiting a CAGR of 19.7% during (2023 - 2029). Additionally, The Asia Pacific market would showcase a CAGR of 21.2% during (2023 - 2029).
Full Report: https://www.kbvresearch.com/autonomous-tractors-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country-wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of 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 Farm Application
By Power Output
Unique Offerings from KBV Research
North America Autonomous Tractors Market size & Opportunities 2023-2029
Europe Autonomous Tractors Market & Growth Forecast 2023-2029
Asia Pacific Autonomous Tractors Market Share & Industry Outlook to 2029
LAMEA Autonomous Tractors Market Growth, Trends & Forecasts 2023-2029