DUBLIN--(BUSINESS WIRE)--The "Autonomous Tractors Market by Power Output (Up to 30 HP, 31-100 HP, 101 HP and Above), Crop Type (Cereals & Grains, Oilseeds & Pulses, Fruits & Vegetables), Farm Application, Component, and Region - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.
The global autonomous tractors market is projected to witness demand for 12,508 Units in 2019 and 60,901 Units by 2025, at a CAGR of 24.89%.
The growth of the autonomous tractors market is expected to be driven by the improved efficiency and productivity of crop yield offered by these tractors and growth in initiatives by governments for the adoption of new technologies. The increase in the average age of farmers in developed countries and decline in the availability of labor are also major factors that will drive the demand for autonomous tractors in the near future.
The autonomous tractors market is dominated by AGCO (US), CNH (UK), Mahindra & Mahindra (India), Deere (US), Kubota Corporation (Japan), Yanmar (Japan), and Autonomous Tractor Corporation (US). These companies have a strong distribution network at the global level. The key strategies adopted by these companies to sustain their market position are new product development and acquisitions. All the parameters mentioned above have been analyzed to derive the market ranking of these companies.
- Improved Efficiency and Productivity Through Improved Crop Yields
- Growth in Trend of Mechanization in the Agricultural Industry
- Favorable Government Initiatives for Adoption of Modern Agricultural Techniques
- Introduction of Autonomous Tractors By Leading Market Players in Developing Countries
- Increase in Average Age of Farmers in Developed Countries
- Decline in Availability of Labor and Increase in Labor Wages
- High Initial Capital Investment
- Lack of Technical Knowledge Among Farmers
- Integration of Smartphones With Agricultural Hardware and Software Applications for Autonomous Tractors
- Lack of Data Management Practices in Agriculture
- Smaller Land Holdings in Developing Economies
- Mahindra & Mahindra Ltd.
- Deere & Company
- Kubota Corporation
- Yanmar Co., Ltd.
- Autonomous Tractor Corporation
- Trimble, Inc.
- Agjunction, Inc.
- Raven Industries
- AG Leader Technology
- Dutch Power Company
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