Press release
Autonomous Tractors Market With a CAGR of 20.9% Increasing Demands for Technological Innovation By 2030
Autonomous Tractors Market
The global autonomous tractors market size was valued at $1.6 billion in 2020, and is projected to reach $11.6 billion by 2030, registering a CAGR of 20.9% from 2021 to 2030.
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By component, the market is segmented into sensor, GPS, vision system, and others. Among these, the GPS segment accounted for the highest market share in 2020 and the other components segment is expected to witness significant growth during the forecast period, owing to increase in demand for autonomous tractors owing to need for improving efficiency in farming activities. The market is analyzed with respect to different applications in tillage, harvesting, irrigation, seed sowing, spraying, and fertilizing.
The market is mainly driven by increasing awareness among farmers regarding the importance of enhancing yield of the farm and increased investments in the agriculture industry globally. However, requirement of high initial investment is a major restraint in the growth of the market.
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By COMPONENT
Sensors
GPS
Vision Systems
Others
By APPLICATION
Tillage
Harvesting
Seed Sowing
Others
By POWER OUTPUT
Less than 30 HP
30-50 HP
51-100 HP
More than 100HP
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Top Players:
The key players profiled in the autonomous tractors market report include AGCO Corporation, Autonomous Solutions, Inc., Autonomous Tractor Corporation, CNH Industrial, Deere & Company, KINZE Manufacturing, Kubota Corporation, Mahindra & Mahindra, Trimble, and Yanmar.
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