The autonomous tractor market is estimated to be valued at US$ 2.17 billion in 2024 and is expected to reach US$ 9.91 billion by 2031, growing at a compound annual growth rate (CAGR) of 24.2% from 2024 to 2031.

Introduction:

With advancements in technology, farm equipment manufacturers are increasing focus on developing autonomous and driverless tractors that can perform agricultural tasks without human intervention. The autonomous tractors are equipped with technologies such as GPS, ultrasonic sensors, radars, and cameras for navigation and obstacle detection. They offer advantages such as increased operational efficiency, reduced labor costs, and improved safety. The growing demand for food and changing demographics is propelling the need for farm automation and autonomous equipment. This is expected to further fuel the adoption of autonomous tractors in the coming years.

Market Dynamics:

The autonomous tractor market is driven by the growing focus on farm automation and labor shortage in the agricultural sector. Farmers around the world are facing issues with the availability of labor for farming activities. This has increased the need for autonomous equipment that can perform tasks independently. Autonomous tractors integrated with latest technologies help overcome labor challenges and allow efficient farm management. Moreover, changing demographics in rural areas is another factor pushing the adoption of smart farming solutions. However, high initial costs of these autonomous tractors and technology challenges related to navigation and data connectivity in remote areas could hinder the market growth. Ongoing technological advancements in precision farming, IoT, and AI provide opportunities for the increased development of smart farming solutions including autonomous tractors.

Key Features of the Study:

• This report provides an in-depth analysis of the global autonomous tractor market, and provides market size (US$ Billion) and compound annual growth rate (CAGR %) for the forecast period (2024–2031), considering 2023 as the base year
• It elucidates potential revenue growth opportunities across different segments and explains attractive investment proposition matrices for this market
• This study also provides key insights about market drivers, restraints, opportunities, new product launches or approvals, market trends, regional outlook, and competitive strategies adopted by key players
• It profiles key players in the global autonomous tractor market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies
• Key companies covered as a part of this study include AGCO Corporation, Argo Tractors, Autonomous Tractors Corporation, CLAAS KGaA mBH, CNH Industrial N.V., Daedong, Deere & Company, Iseki & CO. Ltd, J C Bamford Excavators Ltd., Kubota Corporation, Mahindra & Mahindra Ltd., SDF Group, Sonalika, Tractors and Farm Equipment, TYM Corporation, and Yanmar Holdings Co. Ltd.
• Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
• The global autonomous tractor market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
• Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global autonomous tractor market.

Detailed Segmentation-

• By Component 
  • Sensors
  • GPS
  • Vision Systems
  • Others
•  By Application
  • Tillage
  • Harvesting
  • Seed Sowing
  • Others
•  By Power Output
  • Less than 30 HP
  • 30-50 HP
  • 51-100 HP
  • More than 100 HP
• By Regional 
  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa

Key Players Insights

• AGCO Corporation
• Argo Tractors
• Autonomous Tractors Corporation
• CLAAS KGaA mBH
• CNH Industrial N.V.
• Daedong
• Deere & Company
• Iseki & CO. Ltd
• J C Bamford Excavators Ltd.
• Kubota Corporation
• Mahindra & Mahindra Ltd.
• SDF Group
• Sonalika
• Tractors and Farm Equipment
• TYM Corporation
• Yanmar Holdings Co. Ltd.