FACTS AT A GLANCE
Editing: 8; Posted: October 2021
Executive pool: 2013
Companies: 66 – Players covered include AGCO Corporation; AgEagle Aerial Systems Inc .; Autonomous Solutions, Inc .; Company of autonomous tractors; Bobcat Company; Claas KGaA GmbH; Clearpath Robotics Inc .; CNH Industrial SA; Case IH; Deere & Company; Kinze Manufacturing Inc .; KUBOTA Company; Naio Technologies; Rowbot systems; Yanmar Holdings Co., Ltd. and others.
Blanket: All major geographies and key segments
Segments: Type of product (tractors, harvesters, other types of products); Type (partially self-contained, fully self-contained)
Geographies: World; United States; Canada; Japan; China; Europe; France; Germany; Italy; UK; Rest of Europe; Asia Pacific; Rest of the world.
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Global Autonomous Agricultural Equipment Market To Reach US $ 135.4 billion by 2026
Stand-alone solutions are changing the way agriculture is done and enabling healthier crops to grow and more yields and returns on crops. Farm equipment automation offers many benefits in the form of faster and more accurate operations in all weather and weather conditions, as well as the ability to support heavy and highly complex operations such as plowing and harvesting. harvest. Supported by constant technological advancements and the growing importance of artificial intelligence, the market for autonomous agricultural equipment is poised to experience robust growth in the years to come. Driven by the rapid pace of mechanization and the growing role of self-reliance in farming operations, the demand for fully self-contained farming equipment continues to grow. The growing emphasis on sustainable agriculture and the need for efficient resource management also bodes well for the market. The growing integration of AI and IoT into agricultural operations further expands the growth opportunities for autonomous agricultural equipment. AI in particular is beneficial because it enables precision agriculture, provides advanced solutions to ensure timely harvesting, enables the use of predictive analytics to improve the quality of agricultural production, and provides solutions for optimal planting and soil management. The combination of advanced robotics and electronics with GPS and navigation systems facilitates the development of fully autonomous agricultural equipment. The increasing use of tractors and combines integrated with automatic steering capabilities and the increasing role of drones in agricultural activities present growth opportunities for the market.
In the midst of the COVID-19 crisis, the global market for autonomous agricultural equipment is estimated at US $ 65.7 billion in 2020, is expected to reach a revised size of US $ 135.4 billion by 2026, with a CAGR of 13.1% over the analysis period. Partially autonomous, one of the segments analyzed in the report, is expected to grow at a CAGR of 11.7% to reach US $ 99.3 billion at the end of the analysis period. After a thorough analysis of the business implications of the pandemic and the induced economic crisis, the growth of the Fully Autonomous segment is readjusted to a revised CAGR of 15.8% for the next 7-year period. This segment currently represents a 30.4% share of the global market for autonomous agricultural equipment. Semi or partially autonomous machines help reduce the cost of labor, while getting more work done in less time. In addition, power and mobility can be modularly integrated into the tool itself, which would facilitate movement and improve control while reducing the cost of operating the equipment.
The US market is estimated at $ 21.6 billion in 2021, when China is expected to reach $ 23.6 billion by 2026
The market for self-contained farm equipment in the United States is estimated at US $ 21.6 billion in 2021. The country currently represents a 30.1% share of the global market. China, the world’s second-largest economy, is expected to reach an estimated market size of US $ 23.6 billion during the year 2026, with a CAGR of 16.7% during the analysis period. Other notable geographic markets include Japan and Canada, each projects growth of 9.9% and 10.9% respectively over the period of analysis. In Europe, Germany is expected to grow by around 11.3% CAGR while the rest of the European market (as defined in the study) will reach US $ 27.8 billion at the end of the analysis period. North America and Europe represent the main regional markets. The increasing investments in advanced agricultural sector, technological advancements in manufacturing operations, new programs to stimulate the agricultural industry are fueling the growth of the market for self-contained farming equipment in these regions. The adoption of autonomous and driverless tractors is high in the developed economies of North America and Europe. Larger fields, labor availability issues and the presence of massive grasslands are the main factors driving the adoption of tractors in these markets. Following
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