FACTS
- Autonomous farm tractors are equipped with integrated systems, computers, and processors.
- An autonomous tractor must maintain and follow a precise trajectory during tillage to avoid damage to crops or plants.
- Tractor technology is still changing; the computer-controlled tractors of today could soon be the completely autonomous machines of tomorrow.
- Robot tractors are being increasingly adopted to meet the rising demand for food as well as other agricultural commodities from the world`s growing population.
STATS
- The global market for Autonomous Tractors estimated at 11.3 Thousand Units in the year 2020, is projected to reach a revised size of 38.9 Thousand Units by 2026, growing at a CAGR of 23.5% over the analysis period.
- Up to 30 HP, one of the segments analyzed in the report, is projected to grow at a 24.8% CAGR to reach 13.6 Thousand Units by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the 31-100 HP segment is readjusted to a revised 23.8% CAGR for the next 7-year period.
- The U.S. Market is Estimated at 4.5 Thousand Units in 2021, While China is Forecast to Reach 5.3 Thousand Units by 2026
- The Autonomous Tractors market in the U.S. is estimated at 4.5 Thousand Units in the year 2021. The country currently accounts for a 35% share in the global market. China, the world`s second largest economy, is forecast to reach an estimated market size of 5.3 thousand Units in the year 2026 trailing a CAGR of 26.1% through the analysis period.
- Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 21% and 21.9% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 22.9% CAGR.