Industry Background:
An autonomous electric tractor is a driverless agricultural machine used for tillage and other agricultural tasks. Sensors and machine vision systems are examples of advanced technology components used to perform various agricultural tasks. Automatic agricultural vehicles have high traction (or torque) at slower speeds. These tractors use GPS and other wireless technologies to cultivate the land without the use of a driver. They only need to track progress at the control station with the assistance of a supervisor or operate under the supervision of a manned tractor. Precision agriculture focuses on maximising returns using the fewest resources. Farm owners can use tractors more effectively with the help of GPS devices and computers.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
Key Companies Profiled | Deere & Company (United States), Ztractor (United States), Mahindra & Mahindra (India), Escorts (India), CNH Industrial (United Kingdom), AGCO Corporation (United States), Case IH (United States), Trimble (United States), Charlatte Autonom (France), Yanmar (United States) and Autonomous Solutions, Inc. (United States) |
This growth is primarily driven by Rise In Awareness About Clean And Sustainable Farming Is Boosting The Growth Of The Electric Farm Tractor Market. and Rising Acceptance Of Autonomous Tractor By Farmer In Develop Regions.
Globally, a noticeable market trend is evident Integration With Advance Technology Such As ML And AI Major Vendors, such as Deere & Company (United States), Ztractor (United States), Mahindra & Mahindra (India), Escorts (India), CNH Industrial (United Kingdom), AGCO Corporation (United States), Case IH (United States), Trimble (United States), Charlatte Autonom (France), Yanmar (United States) and Autonomous Solutions, Inc. (United States), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years. The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies.
Key Developments in the Market:
On 4 November 2021, CNH Industrial N.V. announced that it has entered into an exclusive, multi-year licensing agreement for electrification technologies with Monarch Tractor, a US-based AgTech company specializing in fully electric autonomous tractors.
On 1 February 2021, India's leading engineering giant, Escorts Limited, announced its foray into the autonomous farming solutions market with the launch of India's first autonomous concept electric tractor at its annual innovation platform and On 6 January 2021, U.S. company Monarch Tractor recently launched a fully electric autonomous tractor. The tractor can perform pre-programmed tasks without a driver or an operator can use Monarch’s interactive automation features including Gesture and Shadow modes to have the tractor follow a worker on the job.
Influencing Trend:
Integration With Advance Technology Such As ML And AI
Market Growth Drivers:
Rise In Awareness About Clean And Sustainable Farming Is Boosting The Growth Of The Electric Farm Tractor Market. and Rising Acceptance Of Autonomous Tractor By Farmer In Develop Regions
Challenges:
Availability Of Alternatives Or Fuel-Based Electric Tractors and High Cost For The Driverless Tractor Technology
Restraints:
High Initial Investment Required For The Autonomous Electric Tractors As Compared To Traditional Tractors
Opportunities:
Government Support In Providing Incentives And Subsidies and Rising Technological Developments Of Automobiles
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Vendors landscape impacting the growth of the market. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints in Autonomous Electric Tractor- Market
- Analysis about New Entrants in Autonomous Electric Tractor- Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
- An Unbiased Perspective towards Market Performance & Indicators
Against this Challenging Backdrop, Autonomous Electric Tractor- Study Sheds Light on
The Autonomous Electric Tractor- Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Autonomous Electric Tractor- industry Vendors. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Autonomous Electric Tractor- industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Vendors can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.