Autonomous Farm Equipment Market Set to Reach USD 231.8 Billion by 2030, Driven by Smart Agriculture and Regional Demand
The global autonomous farm equipment market is poised for significant growth, projected to reach USD 231.8 billion by 2030. This expansion is fueled by the rise of smart agriculture practices and the integration of GPS and AI technologies into farming operations. Partially autonomous equipment is expected to record an 11.4% CAGR, reaching USD 142.1 billion, while fully autonomous equipment is anticipated to grow at a 15% CAGR over the next eight years . The competitive landscape features key players such as Deere & Company, CNH Industrial N.V., AGCO Corporation, Kubota Corporation, and Mahindra & Mahindra Ltd, all investing heavily in automation to enhance productivity and address labor shortages. Notably, North America is projected to lead in revenue by 2030, while Asia Pacific is expected to be the fastest-growing region, reaching USD 7,997.6 million by 2030 .
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Growth and Consolidation in the United States
In the United States, the autonomous farm equipment market is estimated at USD 26.4 billion as of 2023 . The country is experiencing a surge in investments aimed at enhancing the efficiency of autonomous farm equipment, with a projected CAGR of 14.9% from 2024 to 2034, reaching USD 554.5 million by 2034 . Recent developments include CNH Industrial N.V. introducing new driverless tillage and driver-assist harvest solutions under the CASE IH and New Holland brands, expanding their product portfolio in the market .
Opportunity and Trends in Asia Pacific
Asia Pacific is projected to be the fastest-growing regional market, expected to reach USD 7,997.6 million by 2030 . The region’s growth is driven by the increasing adoption of precision agriculture practices and the rising demand for food and agricultural products . China, in particular, is forecasted to grow at a 15.6% CAGR, reaching a projected market size of USD 45.4 billion by 2030 . Key players such as Kubota Corporation and Yanmar Holdings Co., Ltd. are actively developing AI technologies to detect crop diseases and pests, allowing for precise application of chemicals .
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Trends and Updation in Europe
Europe is witnessing steady growth in the autonomous farm equipment market, with countries like Germany expected to expand at a CAGR of approximately 11.3% from 2020 to 2027 . The region’s growth is supported by technological advancements and the presence of key players such as Claas KGaA GmbH and Deutz-Fahr. These companies are focusing on integrating advanced robotics and GPS navigation systems into their equipment to enhance precision and efficiency in farming operations.
Growth and Opportunity in the Middle East and Africa
The Middle East & Africa (MEA) autonomous farm equipment market generated a revenue of USD 701.0 million in 2023 and is expected to grow at a CAGR of 13.9% from 2024 to 2030, reaching USD 1,747.1 million by 2030 . Tractors remain the largest and fastest-growing product segment in the region. Companies like Mahindra & Mahindra Ltd and Agrobot are expanding their presence in MEA, focusing on developing cost-effective autonomous solutions to cater to the region’s agricultural needs.
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Market Segmentation: In-Depth Analysis:
Global Autonomous Farm Equipment Market, By Operation
• Fully Autonomous
• Partially Autonomous
The market for autonomous agricultural equipment is primarily divided into segments based on operation, products, technology, and geography. According to the operating category, the worldwide market for autonomous agricultural equipment is anticipated to be dominated by completely autonomous in 2017. Implementation of the precision farming system providing the vehicle to drive on its own avoiding obstacles and other vehicles without the supervision of the driver would raise the autonomous farm equipment market demand.
Global Autonomous Farm Equipment Market, By Products
• Tractors
• Harvesters
• UAV
`Global Autonomous Farm Equipment Market, By Technology
• Software
• Hardware
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Market Key Players : In-Depth Analysis:
• John Deere
• Case IH
• AGCO
• Agribotix
• Agricultural Solutions Ltd
• Agrobot
• Autonomous Tractor Corporation
• Harvest Automation
• Mahindra
• CLAAS
• DEUTZ-FAHR
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