Autonomous Tractors Market: Global Market Estimation, Dynamics, Regional Share, Trends, Competitor Analysis 2016-2021 and Forecast 2022-2028

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Autonomous Tractors Market By Power Output (< 30 HP, 31 HP – 100 HP, and > 100 HP), By Component (LiDAR, Radar, GPS, Camera/Vision Systems, Ultrasonic Sensors, Handheld Devices, and Others), By Crop Type Cereals & Grains, Oil Seeds & Pulses, Fruits & Vegetables, and Others), By Application (Tillage, Seed Sowing, Harvesting, and Others), and Geography

 

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Report

Description

The autonomous tractors market is estimated to be valued at USD 973.3 million in 2021 and is expanded to grow at a significant CAGR of 23.1% over 2022-2028. The self-driving tractor has one goal: to feed the world. By 2050, the global population is estimated to increase by 50%, from over 8 billion to approximately 10 billion people. Farmers must also feed this rising population with less available land and skilled labor and deal with the inherent challenges of farming, such as changing weather and climate, soil quality fluctuations, and the prevalence of weeds and pests. All these factors drive the autonomous tractor market. The farming industry is facing an ongoing labor shortage which creates an opportunity for the autonomous tractors market. Low noise levels, emission-free operation, and low maintenance costs of autonomous vehicles also drive the market. As technologically assisted agriculture needs skilled labor, of which there is an acute shortage, farmers are adopting technologies such as autonomous tractors that can be productive. This scenario is one of the significant factors that drive the market forward. Productivity of crop yield provided by these tractors, enhanced efficiency, and development in government initiatives are anticipated to drive the autonomous tractor market. Based on Power Output, Autonomous tractors with >100 HP segment accounted for the highest revenue share of 38.3% in 2021 and are estimated to dominate the market throughout the forecast period to reach USD 2,376.5 Mn by 2028 due to the benefits of four-wheeled tractors such as cultivating capacities at a high fuel economy and better soil quality maintenance & control.

Recent Market Developments:

In January 2022, during a press conference at CES 2022, John Deere revealed a fully autonomous tractor that’s ready for large-scale production. The machine combines Deere’s 8R tractor, TruSet-enabled chisel plow, GPS guidance system, and new advanced technologies. The autonomous tractor will be available to farmers later this year.

In February 2021, Yanmar has announced the upgrade of its autonomous tractor series, which are capable of full or partially autonomous work.

Autonomous Tractors Market

MARKET SUMMARY
-
23.1% CAGR
  • Study Period– 2022 – 2028
  • Base Year– 2021
  • CAGR– 23.1%
  • Largest Market– Europe
  • Fastest Growing Market– North-America

Autonomous Tractors Market

  • The global autonomous tractors market report gives a comprehensive outlook on autonomous tractors across the globe with special emphasis on key regions such as North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
  • The report on the global autonomous tractors market gives historical, current, and future market sizes (US$ Bn) on the basis of power output, component, crop type, application, and region.
  • Key stakeholders of the global market report include suppliers, manufacturers, marketers, policymakers, and service providers engaged in global autonomous tractors.
Key Players
  • AGCO Corporation
  • Deere & Company
  • Mahindra & Mahindra
  • CNH Industrial
  • Autonomous Tractor Corporation
Autonomous Tractors Market

Dynamics

The high operational efficiency of autonomous tractors and rising demand for agricultural yield drive the autonomous tractors market. Shortage of Labor in the farming sector is another major factor driving the growth of the autonomous tractors market. For instance, the California Farm Bureau Federation study reported that 71% of labor-intensive specialty crop growers experience labor shortages. Safety concerns, problems regarding public acceptance, legal challenges, and high costs are the growth restraints for the market.


North-America got significant share

Autonomous Tractors Market

In 2020, North America had the most significant share of the market due to well-developed technologies, increasing pressure on food supply due to increasing population, rising demand for farming and lack of skilled farm labour. Moreover, Asia-Pacific is estimated to grow at the fastest rate over the forecast period due to the increasing population and advanced technologies.

Latin America
Latin-America
North-America
North-America
Europe
Europe
Asia Pacific
Asia-Pacific
Middle East
Middle East

Key

Key Features of the Report

  • The report provides granular level information about the market size, regional market share, historic market (2017-2021) and forecast (2022-2028)
  • The report covers in-detail insights about the competitor’s overview, company share analysis, key market developments, and their key strategies
  • The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market
  • The report tracks recent innovations, key developments, and start-up details that are actively working in the market
  • The report provides a plethora of information about market entry strategies, regulatory framework, and reimbursement scenario
Autonomous Tractors Market Segmentation


Location

GEOGRAPHY

Frequently Asked Questions

2021 is the base year and 2028 is the forecast year.

The report covers the five regions and 15+ countries market data: North America (United States, Canada), Europe (Germany, France, Italy, Spain, and United Kingdom (UK), Asia Pacific (China, India, Japan, Australia & New Zealand), Latin America (Brazil, Mexico, Argentina) and Middle East and Africa (Saudi Arabia, United Arab Emirates, South Africa).

In our report, we provide 12-15 market players’ information into the report. However, based on the client’s request we will provide additional country and regional market players information as well.


Report

Company Profile

  • Trimble Inc.
  • Raven.
  • Kinze Manufacturing.
  • Deere & Company
  • Autonomous Tractor Corporation
  • Mahindra & Mahindra Ltd.
  • AGCO GmbH.
  • CNH Industrial America LLC.

Description

The autonomous tractors market is estimated to be valued at USD 973.3 million in 2021 and is expanded to grow at a significant CAGR of 23.1% over 2022-2028. The self-driving tractor has one goal: to feed the world. By 2050, the global population is estimated to increase by 50%, from over 8 billion to approximately 10 billion people. Farmers must also feed this rising population with less available land and skilled labor and deal with the inherent challenges of farming, such as changing weather and climate, soil quality fluctuations, and the prevalence of weeds and pests. All these factors drive the autonomous tractor market. The farming industry is facing an ongoing labor shortage which creates an opportunity for the autonomous tractors market. Low noise levels, emission-free operation, and low maintenance costs of autonomous vehicles also drive the market. As technologically assisted agriculture needs skilled labor, of which there is an acute shortage, farmers are adopting technologies such as autonomous tractors that can be productive. This scenario is one of the significant factors that drive the market forward. Productivity of crop yield provided by these tractors, enhanced efficiency, and development in government initiatives are anticipated to drive the autonomous tractor market. Based on Power Output, Autonomous tractors with >100 HP segment accounted for the highest revenue share of 38.3% in 2021 and are estimated to dominate the market throughout the forecast period to reach USD 2,376.5 Mn by 2028 due to the benefits of four-wheeled tractors such as cultivating capacities at a high fuel economy and better soil quality maintenance & control.

Recent Market Developments:

In January 2022, during a press conference at CES 2022, John Deere revealed a fully autonomous tractor that’s ready for large-scale production. The machine combines Deere’s 8R tractor, TruSet-enabled chisel plow, GPS guidance system, and new advanced technologies. The autonomous tractor will be available to farmers later this year.

In February 2021, Yanmar has announced the upgrade of its autonomous tractor series, which are capable of full or partially autonomous work.

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