Agriculture is one amongst the most overbearing industry since the beginning of human civilization. Constant growth in population, increasing need for food, fuel and feed is anticipated to influence trifold of the present-day cultivation. For this purpose, strategies such as initiation of autonomous farming and mechanization are adopted on a larger basis for yielding more from the constrained arable land. Increasing labor shortage and changing trends for the use of autonomous equipment are driving the demand for autonomous farm equipment. Development of IoT along with GPS systems application has transformed the agriculture industry.
High cost essential for the improvement of the equipment performance is likely to affect the product penetration. However, industry players are working towards reducing the total cost by making it affordable, which ultimately will increase the product penetration. M&A are amongst the foremost stratagems executed by the manufactures, in order to form exceptional foot hold in farm equipment industry. Moreover, the equipment provides less downtime and can be utilized even during night as well as extreme fog condition. Autonomous farm equipment provides with outstanding fuel efficiency, compared to standard counterparts and has less chances for errors. Variable climatic conditions and challenges like water shortage are dealt with the help of these equipment.
For detailed insights on enhancing your product footprint, request for a Sample here @ https://www.persistencemarketresearch.com/samples/22462
The report indicates that revenues from the global autonomous farm equipment market will increase at an impressive 13.6% CAGR during the forecast period, 2017-2026. The report further projects global sales of autonomous farm equipment to account for revenues worth nearly US$ 170,000Mn by 2026-end.
31–100 HP Output Power of Farm Tractors to Gain Traction during the Forecast Period
U.S., India and China are amongst the topmost countries witnessing maximum sales of farm tractors. 31–100 HP output power of farm tractors holds nearly 34.5% of the global market for autonomous farm equipment throughout 2026. Canada and U.S. contribute largely towards the growth of the segment. Factors such as low cost in comparison to restricted agricultural land for each farmer and superior horsepower farm tractors will drive fuel the market for medium and small range farm tractors in North America and APEJ.
APEJ’s Autonomous Farm Equipment Market to Hold the Lion’s Share in Global Market by Expanding at Exceptional 14.1% CAGR
The market size of APEJ’s autonomous farm equipment is expected to reach a value of US$ 65165.8Mn throughout 2026, due to strong existence of well-known industry competitors in the region. High revenue production can be credited to rolling demand of products like tractors, harvesters and UAV (unmanned aerial vehicle), installed with auto steering operations. North America’s market for autonomous farm equipment is likely to depict momentous growth through 2026. Increasing product use in the region provides better fuel proficiency and higher productivity, which will drive the growth of industry players. Varying trend with regards to smart devices due to expansion of agrarian economies like India, will positively impact the product penetration in APEJ region.
In terms of revenues, partially autonomous equipment contribute significantly to the global market for autonomous farm equipment, subject to their extensive commercialization & competitive pricing. Tractors are expected to lead the market for autonomous farm equipment, in terms of revenue share, contributing nearly 30% sales by 2026. Availability of equipment at competitive price together with exclusive features such as finest path selection and prevention from overlapping paths will positively impact the product penetration.
Important market players sketched by the report include,
- CNH Global NV
- Deutz Fahr & Same (SDF Group)
- John Deere
- AGCO Corporation
- Iseki & Co.
- Yanmar Co. Ltd.
- Kubota Corporation
- Claas KGaA GmbH
- Bobcat (a Doosan company)
- Other Key Player
For in-depth competitive analysis, Check Pre-Book here @ https://www.persistencemarketresearch.com/checkout/22462
Reasons to Purchase this Report:
Accuracy and Quality
Our reports strive to offer superior quality reports based on authentic and accurate findings.
We aim to ensure that our client’s research needs are met with customized, top-of-the-line solutions.
Our analysts and consultants are among the best in their field and promise to deliver excellent market intelligence.
We leave no stone unturned to give clients an exhaustive coverage of the industry.
Persistence Market Research’s proactive approach identifies early innovation opportunities for clients in the global automotive sector. Our insights on next-generation automotive technologies such as connected cars, automotive emissions control, vehicle-to-vehicle (V2V), autonomous cars, electric and hybrid vehicles, and augmented reality dashboards ensure clients stay at the forefront of innovation.
Our competencies go beyond regular market research to deliver tailored solutions in an industry marked with increasing environment regulations, evolving consumer preferences, and a shifting landscape of emerging markets.
Read all Automotive Market Insights here @ https://www.persistencemarketresearch.com/category/automotive-and-transportation.asp
- Shifting Industry dynamics
- In-depth market segmentation
- Historical, current and projected industry size Recent industry trends
- Key Competition landscape
- Strategies of key players and product offerings
- Potential and niche segments/regions exhibiting promising growth
- A neutral perspective towards market performance