The autonomous tractors market in Europe is projected to grow by USD 862.86 million with a CAGR of 18.56% during the forecast period 2021 to 2026.
This autonomous tractors market in Europe research report provides valuable insights on the post-COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers the autonomous tractors market in Europe segmentation by component (sensors, GPS, vision system, and others) and application (harvesting, seed sowing, and irrigation). The autonomous tractors market in Europe report also offers information on several market vendors, including AgJunction inc., AgXeed BV, Autonomous Solutions inc., Autonomous Tractor Corp., Bear Flag Robotics, CNH Industrial NV, Deere and Co., Fendt, Kinze Manufacturing, Kubota Corp., Mahindra and Mahindra Ltd., Raven industries inc., Trimble Inc., Yanmar Holdings Co. Ltd., and ZIMENO Inc DBA MONARCH TRACTOR among others.
What will the Autonomous Tractors Market Size in Europe be During the Forecast Period?
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Autonomous Tractors Market in Europe: Key Drivers, Trends, and Challenges
The increase in the profits generated from farming is notably driving the autonomous tractors market growth in Europe, although factors such as high implementation costs may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic's impact on the autonomous tractors industry in Europe. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Autonomous Tractors Market in Europe Driver
The increase in the profits generated from farming is one of the key drivers supporting the Europe autonomous tractors market growth. With the use of robotic equipment, it is possible for farmers to operate from a remote location, thereby empowering them to perform farming operations even in unfavorable weather conditions. In addition, as robotic equipment offers high precision that cannot be provided by manually operated equipment, the wastage of seeds and fertilizers is minimized. Autonomous tractors allow farmers to perform applications such as seed sowing, irrigation, and harvesting, thereby reducing manual operations and maximizing profits. Such factors are increasing the demand for autonomous tractors in the field, which, in turn, will fuel the growth of the market during the forecast period.
Key Autonomous Tractors Market in Europe Trend
Solar energy-powered tractors are one of the key Europe autonomous tractors market trends contributing to the market growth. In agricultural fields, autonomous tractors are employed and controlled remotely using controllers. These tractors use fuel and can be used for extended periods. Meanwhile, solar energy can be stored and used later for operations. Cameras and light sensor components allow tractors to navigate while determining the right path, even in the dark. Therefore, farmers can operate these tractors at any time of the day without worrying about power backup. Solar energy-powered tractors are cost-effective as they are not dependent on fuel. Such factors are expected to aid the growth of the market during the forecast period.
Key Autonomous Tractors Market in Europe Challenge
High implementation costs are one of the factors hampering the Europe autonomous tractors market growth. Small and medium-scale farmers who produce a single crop and those who are dependent only on the cultivation of seasonal crops may find it difficult to implement autonomous tractors since these farmers are limited to a single crop or fruit production that keeps their margins low, minimizes their return on investment, and limits the availability of funds needed to purchase autonomous tractors. Therefore, this makes it difficult for them to invest in robotic technology, although it promises high returns in the long term. Hence, high implementation costs are expected to inhibit the growth of the market during the forecast period.
This autonomous tractors market in Europe analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
Parent Market Analysis
Technavio categorizes the autonomous tractors market in Europe as a part of the global agricultural and farm machinery market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the autonomous tractors market in Europe during the forecast period.
Who are the Major Autonomous Tractors Market Vendors in Europe?
The report analyzes the market’s competitive landscape and offers information on several market vendors, including:
- AgJunction inc.
- AgXeed BV
- Autonomous Solutions inc.
- Autonomous Tractor Corp.
- Bear Flag Robotics
- CNH Industrial NV
- Deere and Co.
- Fendt
- Kinze Manufacturing
- Kubota Corp.
- Mahindra and Mahindra Ltd.
- Raven industries inc.
- Trimble inc.
- Yanmar Holdings Co. Ltd.
- ZIMENO Inc DBA MONARCH TRACTOR
This statistical study of the Europe autonomous tractors market encompasses successful business strategies deployed by the key vendors. The Europe autonomous tractors market is fragmented, and the vendors are deploying organic and inorganic growth strategies to compete in the market.
Product Insights and News
- AgJunction Inc. - The company offers autonomous tractors that are used to reduce skips and overlaps during tillage, plowing, furrowing, bedding operations and all other aspects of field preparation.
To make the most of the opportunities and recover from the post-COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments while maintaining their positions in the slow-growing segments.
The vendor profiles are designed to help clients improve their market position and information on production and sustainability along with this the report provides a detailed analysis of several leading Companies.
Autonomous Tractors Market in Europe Value Chain Analysis
Our report provides extensive information on the value chain analysis for the autonomous tractors market in Europe, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
What are the Revenue-generating Component Segments in the Autonomous Tractors Market in Europe?
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The autonomous tractors market share growth in Europe by the sensors segment will be significant during the forecast period. Sensors such as those used for light detection, weed detection, photometric, and photosynthesis are incorporated into autonomous tractors to monitor cultivation. Therefore, with the development of autonomous tractors, the sensors segment of the market is expected to grow during the forecast period.
This report provides an accurate prediction of the contribution of all the segments to the growth of the autonomous tractors market size in Europe and actionable market insights on the post-COVID-19 impact on each segment.
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Autonomous Tractors Market Scope in Europe |
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Report Coverage |
Details |
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Page number |
120 |
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Base year |
2021 |
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Forecast period |
2022-2026 |
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Growth momentum & CAGR |
Decelerate at a CAGR of 18.56% |
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Market growth 2022-2026 |
$862.86 million |
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Market structure |
Fragmented |
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YoY growth (%) |
26.85 |
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Competitive landscape |
Leading companies, Competitive Strategies, Consumer engagement scope |
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Key companies profiled |
AgJunction inc., AgXeed BV, Autonomous Solutions inc., Autonomous Tractor Corp., Bear Flag Robotics, CNH industrial NV, Deere and Co., Fendt, Kinze Manufacturing, Kubota Corp., Mahindra and Mahindra Ltd., Raven industries inc., Trimble inc., Yanmar Holdings Co. Ltd., and ZIMENO inC DBA MONARCH TRACTOR |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
What are the Key Data Covered in this Autonomous Tractors Market in Europe Report?
- CAGR of the market during the forecast period 2022-2026
- Detailed information on factors that will drive autonomous tractors market growth in Europe during the next five years
- Precise estimation of the autonomous tractors market size in Europe and its contribution to the parent market
- Accurate predictions on upcoming trends and changes in consumer behavior
- The growth of the autonomous tractors industry in Europe
- A thorough analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of autonomous tractors market vendors in Europe
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