Autonomous Tractor Market Forecasts to 2028 – Global Analysis By Crop Type (Oilseeds & Pulses, Fruits & Vegetables), Component (Ultrasonic Sensors, Radar), Power Output (Up to 30 HP, 31–100 HP) and By Geography

Autonomous Tractor Market Forecasts to 2028 – Global Analysis By Crop Type (Oilseeds & Pulses, Fruits & Vegetables), Component (Ultrasonic Sensors, Radar), Power Output (Up to 30 HP, 31–100 HP) and By Geography

According to Stratistics MRC, the Global Autonomous Tractor Market is accounted for $1,870.56 million in 2021 and is expected to reach $6,663.55 million by 2028 growing at a CAGR of 19.9% during the forecast period. A driverless tractor is an autonomous farm vehicle that delivers a high tractive effort (or torque) at slow speeds for the purposes of tillage and other agricultural tasks. It is considered driverless because it operates without the presence of a human inside the tractor itself.

Major governments across the globe are also launching initiative to boost the agriculture industry. For instance, according to India Brand Equity Foundation, the Indian government announced PLI schemes for food processing industry that offers incentives of around $1484 million over the next six years starting from 2022. And India received $1 billion in agritech funding between 2017 and 2020. Thus, increasing investments in the agriculture industry positively influence the autonomous tractors market share. In addition, major players in the industry are launching autonomous tractors that are easy to use. For instance, in January 2022, Deere & Company, launched a fully autonomous tractor that can be operated using John Deere Operations Center Mobile system.

Market Dynamics:

Driver:

Improved efficiency and productivity through improved crop yields

Autonomous tractors make use of cutting-edge technology, such as overlapping and redundant sensor arrays. These can aid in the detection of any irregularities in the field during operation and are critical to overall farm productivity. Lidar enables the user to determine ranges by targeting an object with a laser and measuring the time for the reflected light to return to the receiver through this the user can attain to it productivity by targeting the area. Moreover, labor shortages, safety issues, and climate change are one of the major obstacles to obtaining productivity thus farmers are increasing the adoption of driverless tractors to future-proof the agricultural business.

Restraint:

High Cost

The high cost of investments in advanced autonomous tractors is one of the factors restraining the market growth. Moreover, they needed maintenance to keep them running, high cost of research and development and the potential loss of farming jobs are obstructing the market growth.

Opportunity:

Rising technological advancement

The rising technological advancement in self-driving technology for vehicles with object detection capabilities using radar, multi-camera systems, and LiDAR technology, among other things, is projected to increase the adoption of automated tractors. Farmers are implementing technologies such as autonomous tractors that can be productive in light of the current challenge, as technologically assisted agriculture requires skilled laborers. Moreover, automation in tractors has become a strong trend, hastening the expansion of precision farming operations. Farmers now have access to cutting-edge technologies in autonomous as well as semi-autonomous tractors such as GPS, sensors, laser diodes, and others for automating their work, which in turn create ample opportunity for the market.

Threat:

Lack of awareness

A lack of awareness and technology integration are likely to threaten the market. The end-users of these tractors are mostly farmers and sometimes, they find it difficult to keep up with the latest trends and technologies that directly affect their consumption. Lack of knowledge and technology integration in developing countries is likely to hinder the development of the market.

Fruits & Vegetables segment is expected to be the largest during the forecast period

Fruits & Vegetables segment is expected to be the largest during the forecast period, owing to the increase in the global population, the demand for fruits & vegetables is increasing at a rapid pace. A trend shows that weeding and harvesting of fruits & vegetables largely rely on hand labour because fragile fruits & vegetables are delicate, and machinery could damage the crops or the trees that produce them. As a result, new technologies such as autonomous tractors are being developed for fruit & vegetable cultivation.

The Radar segment is expected to have the highest CAGR during the forecast period

The Radar segment is expected to have the highest CAGR during the forecast period, as these systems are capable of monitoring the velocity, range, and angle of moving objects and can function in all weather conditions. Additionally, they are easy to install with low power requirements and can navigate and detect any obstructions which may cause a collision.

Region with highest share:

The North America is projected to hold the highest market share, due to the inaccessibility of labor for farmers in countries like the U.S. Moreover, high disposable income, a shortage of trained farm labor, and well-developed technology are the main reasons for the future growth of the market. Additionally, well-developed technologies, increasing pressure on food supply, and rising demand for farming are some of the factor’s propelling the market growth in this province.

Region with highest CAGR:

Asia Pacific is projected to have the highest CAGR, owing to rising agricultural activities in developing nations like India. Moreover, the presence of major firms in the autonomous tractor industry in the Asia Pacific might also help the province's market flourish. Moreover, the increase in population will significantly increase the demand for increased agricultural output, thereby fuelling the use of advanced and efficient machines in this region.

Key players in the market:

Some of the key players profiled in the Autonomous Tractors Market include Yanmar Co., Ltd., Trimble, Inc., Raven Industries, New Holland, Mahindra & Mahindra Ltd., Kubota Tractor Corporation, Kinze Manufacturing, John Deere US, Fendt Corporation, Dutch Power Company, Deere & Company, Autonomous Tractor Corporation, Aurotron Pty Ltd, Agjunction, Inc, AGCO Corporation, AG Leader Technology.

Key developments:

In March 2021: AGCO signed agreement with Carl Geringhoff Vertriebsgesellschaft mbH & Co. to form collaboration for the distribution and development of combined harvester headers. Geringhoff is a strong business that plays an essential role in the growth and adoption of innovative combined harvester header technologies that help farmers enhance their productivity.

In April 2021: Mahindra & Mahindra, Mitsubishi Mahindra Agricultural Machinery, and Kubota collaborated to offer products, services, and solutions to meet customer needs through mutual utilization of resources in Japan. Under the partnership, the two firms will expand the existing scope of original joint equipment manufacturing supply, focusing on tractors, rice trans planters and combine harvesters, including implements and associated equipment

In August 2021: Deere & Company acquired Bear Flag Robotics. The deal accelerates the development and delivery of automation and autonomy on the farm. It will also support John Deere’s long-term strategy of creating more innovative machines with advanced technology to support individual customer needs.

Crop Types Covered:
• Oilseeds & Pulses
• Fruits & Vegetables
• Cereals & Grains

Components Covered:
• Ultrasonic Sensors
• Radar
• Light Detection and Ranging (LiDAR)
• Hand-Held Device
• Global Positioning System (GPS)
• Camera/Vision Segments

Power Outputs Covered:
• Up to 30 HP
• 31–100 HP
• 101 HP & Above

Automations Covered:
• Semi-Automated
• Fully Automated

Applications Covered:
• Tillage
• Seed Sowing
• Harvesting
• Other Applications

Regions Covered:
• North America
US
Canada
Mexico
• Europe
Germany
UK
Italy
France
Spain
Rest of Europe
• Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
• South America
Argentina
Brazil
Chile
Rest of South America
• Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025 and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

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Comprehensive profiling of additional market players (up to 3)
SWOT Analysis of key players (up to 3)
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Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
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