The autonomous tractors are designed to revolutionize the agricultural industry. These are the driverless tractors intended to minimize human interventions and provide higher efficiency using modern technology. Nowadays the approach of the farmers is been improving with the adoption of technology in the field of agriculture. The autonomous tractors have enabled the farmers to easily achieve high production with the use of a reduced amount of input. Autonomous tractors are presented to be the next big thing in the industry of farm equipment.
Global Autonomous Tractors Market: Growth Factors
Factors such as unavailability of workers, rise in adoption of technologically advanced systems such as GPS technology & automatic steering abilities in the tractors, and the ability of the autonomous tractors to offer enhanced precision & accuracy in several aspects of agriculture are fuelling the growth of the global autonomous tractors market at a significant rate. In addition to this, several benefits are associated with the use of autonomous tractors in the field of agriculture. The fact that farming is not a stress-free venture is undeniable. This is because farming requires working for long hours as well as a subscription to hard labor. The poor state of farmers in such cases cannot afford to employ laborers in their farmland and hence has to perform all the tasks all by themselves. Thus, taking into consideration, the autonomous tractors can be handy and reduce the workload as well as support the farmers in the effective management of land.
Additionally, they also help to determine the activities nearby planting & harvesting, the moisture level of soil, and the amount of fuel required for a particular area of the land. Hence, owing to all such benefits offered by the autonomous tractors, there is rise in the demand for such tractors thereby propelling the growth of the global market. Moreover, need for an increase in farm productivity with the rise in population and rise in competition among the key players to launch innovative products are also some of the factors that are spurring the growth of the market. Furthermore, the consistent rise in technological advancements may boost the growth of the global autonomous tractors market during the forecast period. However, high initial costs, as well as lack of awareness regarding the benefits of autonomous tractors among the farmers, are some of the aspects that may restrain the growth of the global autonomous tractors market.
The COVID-19 pandemic situation has severely affected the growth of the global autonomous tractors market. Major factors affecting the growth of the market include unavailability of raw materials, halt in the manufacturing process, change in consumer behavior, and presence of a limited number of distributors due to disruption of the supply chain. However, advanced products in the pipeline are expected to regain the demand for autonomous tractors in the forecast period.
Global Autonomous Tractors Market: Segmentation
The global autonomous tractors market is bifurcated based on the power output, components, crop type, farm application, and region. Based on the power output, the global market is divided into up to 30 HP, 31-100 HP, and 101 HP & above. The component segment is comprised of LiDAR, radar, GPS, hand-held devices, camera or vision systems, and ultrasonic sensors. The crop type segment is categorized into fruits & vegetables, cereals & grains, and oilseeds & pulses. Based on the farm application, the global market is categorized into seed sowing, harvesting, tillage (primary & secondary tillage), and spraying & fertilizing.
Global Autonomous Tractors Market: Regional Analysis
North America is estimated to hold the dominant share of the global autonomous tractors market followed by Europe. Factors such as the adoption of advanced farming equipment, growing funding for agriculture sectors, and the presence of key market players are expected to fuel the market growth in these regions. However, Asia Pacific is anticipated to register the highest CAGR over the forecast period. Factors contributing to the rapid growth of the market in this region include large agricultural areas, increasing focus of governments on modern agricultural techniques, and increasing funding for the agricultural sector. Countries such as India and China are expected to be the largest revenue collector in this region over the forecast period.
Global Autonomous Tractors Market: Competitive Players
Mahindra & Mahindra, Autonomous Tractor Corporation, CNH, Yanmar, AGCO, Kubota Corporation, John Deere, Trimble, KINZE Manufacturing, and Autonomous Solutions, Inc. are some of the key players operating in the global autonomous tractors market.