Global Autonomous and Semi Autonomous Tractors Market (By Technology (Driverless Tractors, Driver-assisted Tractors) –By Driverless Power Output (Below 30 HP, 31 HP to 100 HP, 101 HP and above) –By Driver-assisted Power Output (Below 30 HP, 31 HP to 100 HP, 101 HP and above) – By Component (GPS, Radar, LiDAR, Camera/vision Systems, Ultrasonic Sensors, Handheld Devices) –By Application (Agriculture, Harvesting, Seed Sowing, Irrigation) –By Region (North America, Europe, Asia Pacific, Middle East & Africa and Latin America)) – is expected to reach US$ 9.2 Bn by 2026, at a CAGR of 25%.
Autonomous and semi-autonomous tractors minimizes the human effort required in farm processes such as harvesting, seed sowing, fertilization, and scarifying. Semi-autonomous tractors slower human effort by assisting the driver in certain actions, while autonomous tractors are fully, driverless tractors, which completely replace the driver with numerous software and hardware components. Autonomous tractors are more precise and help in planting, sowing, harvesting, and performing other functions more precisely, which helps enhance yield with minimum loss. High cost of autonomous and semi-autonomous tractors is expected to be a key factor that is likely to hamper the market; moreover, they are anticipated to be profitable in the long-term, as they are anticipated to repay their cost by saving on labor charges.
101 HP & above segment will account for the largest share
In terms of power output, 101 HP & above segment will account for the largest share, followed by the 31-100 HP power output segment. The demand for medium-powered tractors is anticipated to grow at a higher rate as compared to high-powered autonomous tractors, owing to the benefits of four-wheeled tractors such as better soil quality maintenance & control, and cultivating capacities with high fuel economy.
The radar segment will be the largest market share
In terms of component, the radar segment will be the largest market share. Radar sensors can determine the velocity, range, and angle of moving objects and can work in nearly all weather conditions. They are more cost-effective than LiDAR systems but most expensive compared to cameras.
Asia Pacific is anticipated to expand at a significant growth rate during the forecast period
In terms of region, Asia Pacific is anticipated to expand at a significant growth rate during the forecast period, as the market for semi-autonomous tractors is anticipated to expand at a rapid pace in countries such as China and India, owing to their lower cost as compared to the fully driverless tractors.
This report includes a study of marketing and development strategies, along with the product portfolios of leading companies. It includes the profiles of leading manufacturers such as AGCO Corporation, CNH Industrial N.V., Deere & Company, Escorts Limited, Komatsu America Corp., Mahindra & Mahindra Ltd., SAME DEUTZ-FAHR Italia S.p.A., Ag Leader Technology, Agjunction, Inc., Autonomous Solutions Inc., Raven Industries, Inc., Trimble, Inc., and YANMAR CO., LTD.
Maximize market research, a global market research firm with dedicated team of specialists and data has carried out extensive research about the Autonomous and semi-autonomous tractors market. Report encompasses the market by different segments and region, providing the in-depth analysis of overall industry ecosystem, useful for taking informed strategic decision by the key stakeholders in the industry. Importantly, the report delivers forecasts and share of the market, further giving an insight into the market dynamics, and future opportunities that might exist in the Autonomous and semi-autonomous tractors market. The driving forces as well as considerable restraints have been explained in depth. In addition to this, competitive landscape describing about the strategic growth of the competitors have been taken into consideration for enhancing market know-how of our clients and at the same time explain Autonomous and semi-autonomous tractors market positioning of competitors.
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