A recent report published by Infinium Global Research on autonomous and semi-autonomous tractors market provides in-depth analysis of segments and sub-segments in the global as well as regional autonomous and semi-autonomous tractors market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional autonomous and semi-autonomous tractors market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of global autonomous and semi-autonomous tractors market. According to the report, the global autonomous and semi-autonomous tractors market is projected to grow at a CAGR of 24.68% over the forecast period of 2019-2025.
In 2016, Harper Adams University and Precision Decisions launched a project named the Hands Free Hectare project, which was undertaken to demonstrate that one hectare of grain could be grown to harvest without physical the presence of a human on the land. Since then, they have harvested two seasons of grain by using only robots and autonomous machinery including a tractor. The GPS-enabled tractors can plant, spray and harvest the field. These autonomous tractors work on a prescription file to spray weeds, insects, and diseases, only where it is required. The Indian automaker Mahindra & Mahindra Ltd. is designing an autonomous tractor. While another Indian engineering company, Escorts showcased its autonomous tractor concept. In Canada, the autonomous tractors made by Dot are commercially available.
Shortage of labor and high cost of labor for farming are the major driving factors for the autonomous and semi-autonomous tractors market. These tractors are expected to reduce the requirement of labor and increase the yield. Moreover, the autonomous tractors are more precise and accurate, which reduces waste and increases productivity, which in turn increases the demand for autonomous and semi-autonomous tractors. However, the high cost of autonomous and semi-autonomous tractors is anticipated to be a key factor that is likely to hamper the market. Additionally, the tractors are expected to be profitable in the long-term, as they repay their cost by saving on labor charges.
Among the geographies, North America and Europe have witnessed a rise in the adoption of autonomous and semi-autonomous tractors. Availability of large fields, low availability of labor, and massive grasslands in these regions are the major driving factors of the autonomous and semi-autonomous tractors market in North America and Europe. The average age in Japan is on the elder side and they lack the power to handle conventional mechanical tractors properly. This is projected to boost the autonomous and semi-autonomous tractors market in the country. Additionally, the presence of a large number of manufacturers in the region put Japan at the forefront for the development of autonomous tractors. Furthermore, China is the key manufacturer and exporter of agriculture products, which leads to the high adoption of autonomous and semi-autonomous tractors to enhance their production.
The report on global autonomous and semi-autonomous tractors market covers segments such as technology, power output, and application. On the basis of technology, the sub-markets include driverless tractors, and driver-assisted tractors. On the basis of power output, the sub-markets include below 30 HP, 31 HP to 100 HP, and 101 HP and above. On the basis of application, the sub-markets include harvesting, seed sowing, irrigation, and other applications.
The report provides profiles of the companies in the market such as AGCO Corporation, Deere & Company, Komatsu America Corp., Autonomous Solutions Inc., Raven Industries, Inc., Trimble, Inc., Mahindra & Mahindra Ltd., KUBOTA Corporation, Ag Leader Technology, Inc., Agjunction, Inc., and Other Companies.
The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of autonomous and semi-autonomous tractors market. Moreover, the study highlights current market trends and provides forecast from 2019-2025. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.
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