Autonomous Tractor Market Size, Share, Opportunities, COVID 19 Impact, And Trends By Component (Sensors, Cameras, GPS, LiDAR, And Others), By Power Output (Up To 30 Hp, 30-100 Hp, And 100 Hp And Above), By Application (Harvesting, Tillage, Seed Sowing, And Others), And By Geography - Forecasts From 2019 To 2024

Published:  Apr 2021 Report Code: KSI061612718 Pages: 102

The autonomous tractor market is projected to grow at a CAGR of 12.16% during the forecast period, reaching a total market size of US$398.92 million in 2024 from US$185 million in 2018. Autonomous tractors are driverless tractors used which use advanced sensors and systems for operating purposes. The demand for autonomous tractors is expected to increase on account of improvement in overall productivity and the trend towards the adoption of modern farming techniques. Further, the rising demand to increase the efficiency and effectiveness of the farmland is expected to boost the market for autonomous tractors in the coming years. In addition, favorable government conditions regarding the development of the agricultural sector are anticipated to fuel the market. Furthermore, the rising population has prompted increased demand for food which in turn has emphasized the focus on increasing the yield which is further anticipated to bolster the autonomous tractor industry. Moreover, a growing number of products launches along with technological advancements is estimated to widen up the growth opportunities for the market in the next five years. However, the high initial cost associated with autonomous tractors is expected to restrict the growing demand for autonomous tractors. The market has been segmented on the basis of components, power type, application, and geography. Geographically, North America is estimated to hold a significant share in the market owing to the early adoption along with the rising research and development activities.

DRIVERS

Rising adoption of automation in the agricultural sector.

Supportive government initiatives.

RESTRAINTS

High capital investment.

INDUSTRY UPDATES

In June 2018, Yanmar Co. Ltd. Launched its new autonomous tractors with labor-saving ICT.

The major players profiled in the Autonomous Tractor market include Yanmar Co. Ltd., AGCO Corporation, Deere & Company, Trimble Inc., Autonomous Tractor Corporation, Mahindra & Mahindra Ltd., Ag Leader Technology, CNH Industrial N.V., Kubota Corporation, and Alamo Group Inc.  

Autonomous Tractor Market Scope:

Report Metric Details
 Market size value in 2018  US$185 million
 Market size value in 2024  US$398.92 million
 Growth Rate  CAGR of 12.16% from 2018 to 2024
 Base year  2018
 Forecast period  2019–2024
 Forecast Unit (Value)  USD Million
 Segments covered  Component, Power Output, Application, And Geography
 Regions covered  North America, South America, Europe, Middle East and Africa, Asia Pacific
 Companies covered Yanmar Co. Ltd., AGCO Corporation, Deere & Company, Trimble Inc., Autonomous Tractor Corporation, Mahindra & Mahindra Ltd., Ag Leader Technology, CNH Industrial N.V., Kubota Corporation, Alamo Group Inc.
 Customization scope  Free report customization with purchase

 

Segmentation

The autonomous tractor market has been analyzed through the following segments:

  • By Component
    • Sensors
    • Cameras
    • GPS
    • LiDAR
    • Others
  • By Power Output
    • Upto 30 Hp
    • 30-100 Hp
    • 100 Hp and above
  • By Application
    • Harvesting
    • Tillage
    • Seed Sowing
    • Others
  • By Geography
    • North America
      • USA
      • Canada
      • Mexico
    • South America
      • Brazil
      • Argentina
      • Others
    • Europe
      • Germany
      • France
      • UK
      • Spain
      • Others
    • Middle East and Africa
      • Israel
      • Saudi Arabia
      • Others
    • Asia Pacific
      • China
      • Japan
      • South Korea
      • India
      • Others

Frequently Asked Questions (FAQs)

Q1. What will be the autonomous tractor market size by 2024?
A1. Autonomous Tractor market is projected to reach a market size of US$398.92 million in 2024.
 
Q2. What are the growth prospects for the autonomous tractor market?
A2. The autonomous tractor market is projected to grow at a CAGR of 12.16% during the forecast period.
 
Q3. What is the size of global autonomous tractor market?
A3. The global autonomous tractor market was valued at US$185 million in 2018.
 
Q4. Which region holds the largest market share in the autonomous tractor market?
A4. Geographically, North America is estimated to hold a significant share in the autonomous tractor market owing to the early adoption along with the rising research and development activities.
 
Q5. What factors are anticipated to drive the autonomous tractor market growth?
A5. The demand for autonomous tractors is expected to increase on account of improvement in overall productivity and the trend towards the adoption of modern farming techniques.
1. INTRODUCTION 
1.1. Market Overview 
1.2. Market Definition 
1.3. Scope of the Study 
1.4. Currency 
1.5. Assumptions 
1.6. Base, and Forecast Years Timeline 
 
2. RESEARCH METHODOLOGY 
2.1. Research Design 
2.2. Secondary Sources 
 
3. EXECUTIVE SUMMARY
 
4. MARKET DYNAMICS 
4.1. Market Segmentation 
4.2. Market Drivers 
4.3. Market Restraints 
4.4. Market Opportunities 
4.5. Porter’s Five Forces Analysis 
4.5.1. Bargaining Power of Suppliers 
4.5.2. Bargaining Power of Buyers 
4.5.3. Threat of New Entrants 
4.5.4. Threat of Substitutes 
4.5.5. Competitive Rivalry in the Industry 
4.6. Life Cycle Analysis - Regional Snapshot 
4.7. Market Attractiveness 
 
5. AUTONOMOUS TRACTOR MARKET BY COMPONENT 
5.1. Sensors 
5.2. Cameras 
5.3. GPS
5.4. Lidar 
5.5. Others 
 
6. AUTONOMOUS TRACTOR MARKET BY POWER OUTPUT 
6.1. Up To 30 Hp 
6.2. 30-100 Hp 
6.3. 100 Hp And Above 
 
7. AUTONOMOUS TRACTOR MARKET BY APPLICATION 
7.1. Harvesting 
7.2. Tillage 
7.3. Seed Sowing 
7.4. Others 
 
8. AUTONOMOUS TRACTOR MARKET BY GEOGRAPHY 
8.1. North America 
8.1.1. USA
8.1.2. Canada 
8.1.3. Mexico 
8.2. South America 
8.2.1. Brazil 
8.2.2. Argentina 
8.2.3. Others 
8.3. Europe 
8.3.1. Germany 
8.3.2. France 
8.3.3. United Kingdom 
8.3.4. Spain 
8.3.5. Others 
8.4. Middle East and Africa 
8.4.1. Saudi Arabia 
8.4.2. Israel 
8.4.3. Others 
8.5. Asia Pacific 
8.5.1. China 
8.5.2. Japan 
8.5.3. South Korea 
8.5.4. India 
8.5.5. Others 
 
9. COMPETITIVE INTELLIGENCE 
9.1. Market Positioning Matrix and Ranking 
9.2. Recent Investments and Deals 
9.3. Strategies of Key Players 
 
10. COMPANY PROFILES 
10.1. Yanmar Co. Ltd.
10.2. AGCO Corporation 
10.3. Deere & Company 
10.4. Trimble Inc. 
10.5. Autonomous Tractor Corporation 
10.6. Mahindra & Mahindra Ltd. 
10.7. AG Leader Technology 
10.8. CNH Industrial N.V. 
10.9. Kubota Corporation 
10.10. Alamo Group INC. 
 

Yanmar Co. Ltd.

AGCO Corporation

Deere & Company

Trimble Inc.

Autonomous Tractor Corporation

Mahindra & Mahindra Ltd.

Ag Leader Technology

CNH Industrial N.V.

Kubota Corporation

Alamo Group Inc.

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