Autonomous Farm Equipment Market

SKU: DMAG694 | Last Updated On: Sep 21 2022 | Available Formats

> Global Autonomous Farm Equipment Market Expected to reach a high CAGR by 2029: DataM Intelligence

Global Autonomous Farm Equipment Market is segmented By Product Type (Tractors, Harvesters, Others), By Capacity (Less than 30 HP, 31 to 100 HP, Above 100 HP), By Operation (Fully Autonomous, Semi-Autonomous), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Size, Share Outlook, and Opportunity Analysis, 2022-2029

 

Market Overview

[195 Pages Report] The Global "Autonomous Farm Equipment Market" is expected to grow at a high CAGR during the forecasting period (2022-2029).

  • Autonomous farm equipment helps to achieve fast, precise operations, and uninterrupted operations in agriculture activities.

  • This equipment performs various activities such as plowing and harvesting.

Metrics

Details

Market CAGR

High

Segments Covered

By Product Type, By Capacity, By Operation, And By Region

Report Insights Covered

Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, and Other vital insights.

Fastest Growing Region

Asia Pacific

Largest Market Share 

North America

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Market Outlook

  • The growing consumer awareness of free equipment for performing various farm activities is driving market growth in recent years.

  • New technologies such as the integration of robotics, GPS and navigation system for ease of access will further drive the market growth in the forecast period to 2026.

  • The high cost of the free farm equipment and initial stages of development in the market is hampering the market growth.

Market Segmentation Analysis

  • The Global Autonomous Farm Equipment market is segmented by Product Type, by Capacity, and operation type.

  • By Product type, the market is segmented as Tractors, Harvesters, and Others. The tractors segment accounted for the significant market share, as it is the main equipment that is commonly used in agricultural operations such as plowing, leveling, and others. The growth in the tractor segment is estimated to have continued growth over the forecast period

  • By Operation type market is segmented as fully autonomous and semi-autonomous. The fully-independent farm equipment segment is anticipated to show a strong increase over the forecast period to 2026.

  • The growth will be supported by its benefits such as precise and efficient operations besides minimum human supervision and other labor expenses.

Market Geographical Share

  • By Geography the market is segmented into the Americas, Europe, Asia Pacific, and the Rest of the World. North America accounted for a significant share in the market and is mainly due to increased investments in agriculture and substantially massive demand for advanced technology in yielding a better harvest.

  • Increasing population, agriculture activities, and development of low-cost autonomous farm equipment will support the market growth in the Asia Pacific region in the forecast period to 2026.

Market Competitive Trends

  • The competition in the industry is spread among a few large and international companies globally.

  • Key players in the industry are developing new technologies to increase efficiency, and reliability at affordable prices.

  • For instance, in December 2018, Kubota and Escorts formed a joint venture in developing and manufacturing utility tractors with advanced technologies for the Indian market.

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FAQ

What is the Growth Rate of the Autonomous Farm Equipment Market?

Grow at a high CAGR during the forecasting period (2022-2029).

What Companies Are Included in the Autonomous Farm Equipment Market?

Kubota and Escorts formed a joint venture in developing and manufacturing utility tractors with advanced technologies for the Indian market.

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