Autonomous Tractors: Market Size. From $1,518. 93 million in 2020, the global Autonomous Tractors market is projected to reach $7,454. 47 million by 2028. Based on our analysis the market is expected to grow at a CAGR of 22.
New York, Aug. 25, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Global Autonomous Tractors Market Analysis & Trends - Industry Forecast to 2028" - https://www.reportlinker.com/p06127653/?utm_source=GNW
0% from 2020 - 2028 timeframe.
Some of the prominent trends that the market is witnessing include, growing adoption of advanced farming technologies, increasing commercialization of agriculture, and rising acceptance of autonomous technologies.
Global Autonomous Tractors Market: Market Dynamics
Autonomous tractors provide many benefits to farmers. These benefits include as increased productivity and accuracy, which ultimately result in superior quality of crops thereby ensuring higher profits. Additionally, autonomous tractors help farmers to work for longer hours with more productivity. Furthermore, auto-steering helps farmers to do farming with superior reliability, which in turn is likely to boost the autonomous tractor market.
Lack of awareness regarding new technologies is likely to hamper the autonomous tractor market. A large number of farmers find it difficult to deal with modern and technologies, which often affect its usage. In addition, the government supports to encourage the technology- adhered farming is likely to help the autonomous tractors market to grow in the future.
Impact of COVID-19 on Autonomous Tractors
In the light of the spread of Covid-19 pandemic, the autonomous tractor manufacturing facilities have faced many challenges. The worldwide shut down has declined the sales of autonomous tractors. The production facilities had quite a number of challenges to overcome and this has affected the sales as well.
By Crop Type
Fruits & Vegetables Segment Dominate the Market in 2020
There has been a significant increase in the demand for fruits and vegetables in the recent years. This can be attributed to the ever increasing population around the world. Since fruits & vegetables are delicate, machinery is avoided in the harvesting to a large extent. This is paving way for the development of new technologies like autonomous tractors to yield better results.
North America Region is Leading in the Global Market Place
North America is expected to hold a considerable share of the global market. The higher disposable incomes of farmers and adoption of modern technology are the primary factors driving the market in this region. In North America, the sizes of farms are usually large, and customer loyalty is high. Therefore, the growth opportunities for technologies like autonomous tractors are very high in the region.
List of the Key Players Profiled in the Market Include:
• Deere & Company
• CNH Industrial
• Mahindra & Mahindra Ltd
• Kubota Corporation
• Dutch Power Company
• Autonomous Tractor Corporation
• Raven Industries
• AG Leader Technology
• Yanmar Co. Ltd
• Agjunction, Inc
• Trimble, Inc
• Kinze Manufacturing Inc
List of the Regions/Countries Profiled in the Market Include:
• Rest of Europe
• New Zealand
• Rest of Asia Pacific
• Saudi Arabia
• Rest of Middle East
• Rest of Latin America
Rest of the World (RoW)
• South Africa
Read the full report: https://www.reportlinker.com/p06127653/?utm_source=GNW
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