Agricultural Robotic Equipment Market, 2024

Agricultural Robotic Equipment Market, 2024

The global agricultural robotic equipment market is projected to experience a compound annual growth rate (CAGR) of 20.6% from 2024 to 2029. It is anticipated that by 2029, the market will have reached a value of USD 51,149 million. The growth of this market can be attributed to several key factors. Firstly, there is a shortage of labor in the agricultural sector, which has propelled the adoption of robotic equipment. Additionally, the increasing cost of labor has further incentivized farmers to invest in automated solutions. Moreover, the growing demand for food and agricultural products has created a need for efficient and productive farming practices, which can be achieved through the use of agricultural robotic equipment.

Furthermore, the market growth is driven by the adoption of emerging technologies in the agricultural sector. These technologies, such as Artificial Intelligence (AI) and the Internet of Things (IoT), are being integrated into robotic equipment, enabling advanced functionalities and improved performance. Additionally, there is increasing research and development focused on developing new applications for agricultural robotic equipment, aiming to enhance productivity and simplify tasks for humans while ensuring optimal outcomes.

During the indicated period, the agricultural robotic equipment market witnessed significant growth in various segments, including dairy farming, animal management, field farming, soil management, and crop management. The global dairy farming segment market experienced a CAGR of 21.3% from USD 5,320 million in 2020 to USD 9,486 million in 2023. This segment is expected to continue its rapid growth in the upcoming years, reaching USD 29,429 million in 2029 at a CAGR of 20.9%. Dairy farming automation involves the integration of robotic systems for tasks such as feeding, milking, estrus and birth detection, egg collection, exercising, barn cleaning, animal cooling, and environmentally-controlled housing, among others. The implementation of automation in dairy farming offers numerous advantages, including time savings, reduced labor requirements, improved product quality, increased production efficiency, enhanced accuracy, and improved safety measures. However, it is important to note that automation entails significant installation and repair costs, making it more suitable for commercial and institutional farms.

In terms of geography, North America has emerged as the dominant player in the agricultural robotic equipment market studied in 2023. Following closely behind are Europe and Asia-Pacific. The United States holds the dominant position in the North American agricultural robotic equipment market, boasting a substantial market share of 84.2% in 2023. Notably, it also ranks among the largest markets for autonomous tractors within the agricultural robots and mechatronics market. The United States is home to prominent industry players such as Autonomous Tractor Corporation and Agrobotics LLC. Several key factors contribute to the strong market presence in the United States, including extensive large-scale farming operations, a declining labor force, and a pressing need to augment agricultural productivity.

Key players in the agricultural robotic equipment market include Deere & Co., CNH Industrial N.V., AGCO Corporation, CLAAS KGaA mbH, Mitsubishi Agricultural Machinery Co., Ltd., AG Leader Technology, Inc., Topcon Positioning Systems, Inc., AgEagle Aerial Systems Inc., Trimble Inc., Yanmar Co., Ltd., DeLaval, Inc., and others like CropX Inc., Ceres Imaging, Inc., Gamaya SA, Lely Industries N.V., SZ DJI Technology Co., Ltd., GEA Group AG, and Autonomous Solutions, Inc. They hold significant market share, have strong technology and distribution channels, and contribute to the development and accessibility of advanced solutions.

This study aims to analyze the global market for various segments of agricultural robotic equipment, including:

Application: Dairy Farming, Animal Management, Field Farming, Soil Management, and Crop Management.
Region: North America (USA, Canada, and Mexico), Europe (Germany, France, UK, Spain, Russia, and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, and Rest of Asia Pacific), Latin America, Middle East, and Africa.