Reaping the Benefits: The Emerging Autonomous Farm Equipment Market 2023-2033

The report indicates that revenues from the global autonomous farm equipment market will increase at an impressive 13.6% CAGR by the forecast period 2026. The report further projects global sales of autonomous farm equipment to account for revenues worth nearly US$ 170,000Mn by 2026-end.

Agriculture is one amongst the most overbearing industry since the beginning of human civilization. Constant growth in population, increasing need for food, fuel and feed is anticipated to influence trifold of the present-day cultivation.

For this purpose, strategies such as initiation of autonomous farming and mechanization are adopted on a larger basis for yielding more from the constrained arable land. Increasing labor shortage and changing trends for the use of autonomous equipment are driving the demand for autonomous farm equipment. Development of IoT along with GPS systems application has transformed the agriculture industry.

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High cost essential for the improvement of the equipment performance is likely to affect the product penetration. However, industry players are working towards reducing the total cost by making it affordable, which ultimately will increase the product penetration. M&A are amongst the foremost stratagems executed by the manufactures, in order to form exceptional foot hold in farm equipment industry.

Moreover, the equipment provides less downtime and can be utilized even during night as well as extreme fog condition. Autonomous farm equipment provides with outstanding fuel efficiency, compared to standard counterparts and has less chances for errors. Variable climatic conditions and challenges like water shortage are dealt with the help of these equipment.

31-100 HP Output Power of Farm Tractors to Gain Traction during the Forecast Period

U.S., India and China are amongst the topmost countries witnessing maximum sales of farm tractors. 31-100 HP output power of farm tractors holds nearly 34.5% of the global market for autonomous farm equipment throughout 2026. Canada and U.S. contribute largely towards the growth of the segment. Factors such as low cost in comparison to restricted agricultural land for each farmer and superior horsepower farm tractors will drive fuel the market for medium and small range farm tractors in North America and APEJ.

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APEJ's Autonomous Farm Equipment Market to Hold the Lion's Share in Global Market by Expanding at Exceptional 14.1% CAGR

The market size of APEJ's autonomous farm equipment is expected to reach a value of US$ 65165.8Mn throughout 2026, due to strong existence of well-known industry competitors in the region. High revenue production can be credited to rolling demand of products like tractors, harvesters and UAV (unmanned aerial vehicle), installed with auto steering operations.

North America's market for autonomous farm equipment is likely to depict momentous growth through 2026. Increasing product use in the region provides better fuel proficiency and higher productivity, which will drive the growth of industry players. Varying trend with regards to smart devices due to expansion of agrarian economies like India, will positively impact the product penetration in APEJ region.

In terms of revenues, partially autonomous equipment contribute significantly to the global market for autonomous farm equipment, subject to their extensive commercialization & competitive pricing. Tractors are expected to lead the market for autonomous farm equipment, in terms of revenue share, contributing nearly 30% sales by 2026. Availability of equipment at competitive price together with exclusive features such as finest path selection and prevention from overlapping paths will positively impact the product penetration.

Global Autonomous Farm Equipment Market

The key players leading global autonomous market have been outlined by the market analysts in the report. They include Bobcat (a Doosan company), Claas KGaA GmbH, Kubota, Deutz Fahr, Yanmar, Iseki & Co., AGCO Corporation, John Deere, Case IH, and New Holland.

Some of these firms are probable to deal with challenges by means of development of cost-efficient equipment and advanced techniques in farming. Moreover, reduction in the manufacturing costs and rising profit margins is expected to be a key focus zone for players in global autonomous farm equipment market.

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Segmentation

Region

North Americ
Latin America
Europe
Japan
APEJ
MEA

Mode of Operation

Fully Autonomous
Partially Autonomous

Machine Type

Tractors
Harvesters
Tiller
Seed Drill
Others

Output Power

Up to 30 HP
31-100 HP
101 HP and Above

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This release was published on openPR.