Global Autonomous Farm Equipment Market to Reach $231.8 Billion by 2030
The global market for Autonomous Farm Equipment estimated at US$89.4 Billion in the year 2023, is expected to reach US$231.8 Billion by 2030, growing at a CAGR of 12.7% over the period 2023-2030. Partially Autonomous Farm Equipment, one of the segments analyzed in the report, is expected to record 11.4% CAGR and reach US$142.1 Billion by the end of the analysis period. Growth in the Fully Autonomous Farm Equipment segment is estimated at 15% CAGR for the next 8-year period.
The U.S. Market is Estimated at $26.4 Billion, While China is Forecast to Grow at 15.6% CAGR
The Autonomous Farm Equipment market in the U.S. is estimated at US$26.4 Billion in the year 2023. China, the world`s second largest economy, is forecast to reach a projected market size of US$45.4 Billion by the year 2030 trailing a CAGR of 15.6% over the analysis period 2023 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 9.7% and 10.5% respectively over the 2023-2030 period. Within Europe, Germany is forecast to grow at approximately 11.1% CAGR.
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What to Expect from the Global Economy in 2024
Edgy geopolitics, and economic instability caused by monetary policy tightening and ensuing higher interest rates will create a tumultuous landscape for 2024. Several factors will continue to exert pressure on the path to recovery including hostilities in the Middle East and increasingly common climate disasters. Among the risks, several positives are also taking shape such as growing signs of disinflation and easing of anxiety over stubborn inflation, supply chain normalization and price moderation despite volatility in energy costs. Elections across several G21 jurisdictions, notably in India and the United States, will have potential ramifications for capital flows and investment strategies. While India emerges as a compelling destination in the global investment landscape, U.S, based tech firms will continue to dominate, fueled by a dynamic ecosystem of talent and capital. Tech opportunities in Silicon Valley and beyond remain attractive for investors seeking high-growth prospects supported largely by a resilient albeit slowing domestic economy and conducive regulatory environment. Europe will continue to battle tight monetary policy and recession risks with U.K. having the most challenging outlook and running the greatest risk of recession in 2024. China remains a wild card with hope for growth in the country underpinned by government spending and improvements in consumer spending. The volatile environment will offer both opportunities and challenges for investors and businesses alike. Embracing volatility as a catalyst for growth together with agility and strategic foresight in navigating investment decisions will remain important for survival.
Select Competitors (Total 66 Featured) -
AGCO Corporation
CNH Industrial NV
CLAAS KGaA mbH
AGCO GmbH (Fendt)
Amazone-Werke H. Dreyer GmbH & Co. KG
AgEagle Aerial Systems, Inc.
Autonomous Solutions, Inc.
Autonomous Tractor Corporation
Bobcat Company
AgJunction, Inc.
AG Leader Technology
Agmechtronix
AutoNxt Automation Pvt. Ltd.
Agritronics
Bear Flag Robotics
TABLE OF CONTENTS
I. METHODOLOGY
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
Autonomous Farm Equipment - Global Key Competitors Percentage Market Share in 2023 (E)
Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2023 (E)
An Introduction to Autonomous Farm Equipment
Types of Autonomous Farm Equipment
Benefits of Autonomous Machinery to Farmers
Global Market Prospects & Outlook
Autonomous Tractors to Experience High Growth
Developed Regions Lead, Developing Economies Poised for High Growth
Competition
Recent Market Activity
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
Growing Population & Rising Food Security Concerns Drive Demand for Autonomous Tractors
Long-term Focus on Feeding the World's Expanding Population to Sustain the Growth of Mechanized Farm Equipment: World Population (in Thousands) by Geographic Region for the Years 2019, 2030, 2050, 2100
Food Demand Growth Worldwide: Demand Growth in Million Tonnes for Select Foods for the Period 2008-2017 and 2018-2027
Climate Change Adds Fuel to the Already Burning Issue of Food Security
Increasing Mechanization of Agricultural Operations Boosts Autonomous Farm Equipment Market
Percentage of Mechanization in Agriculture in Select Countries
Declining Agricultural Land Productivity Sets the Stage for Transformation in Farming
Growing Investments in Smart Farming & Increased Use of IoT in Agriculture Preps the Market for Robust Growth
Rise of Smart Agriculture Sets the Stage for Adoption of Automated Farming Techniques: Global Smart Agriculture Market Worldwide (In US$ Billion) by Region/Country for the Years 2020 & 2027
Increased Deployment of IoT in Agriculture Strengthens the Business Case for Autonomous Farm Equipment: Global Agricultural IoT Market (In US$ Billion) for the Years 2020, 2023 & 2026
Innovation in Advanced Robotics Plays a Key Role in the Commercialization of Autonomous Farm Equipment
Continuous R&D in Robotics & the Ensuing Expansion of the Robotics Market Fuels Market for Agricultural Robotic Solutions: Global Market for Agricultural Robotics (In US$ Million) for the Years 2020, 2022 & 2024
Autonomous Robotics Find Growing Use in Farms
GPS Systems & Navigation Emerge to Be Indispensable in Autonomous Farm Equipment
ISOBUS ISO11783 Standard Streamlines Development of Smart Farming Equipment
Developments in Artificial Intelligence (AI), Machine Vision & Machine Learning Remain Critical to Commercialization & Growth
Emerging Opportunities for AI in Agriculture to Push Up the Innovation Index in the Market: Artificial Intelligence (AI) in Agriculture Worldwide (In US$ Million) for the Years 2019, 2022 and 2025
Rising Significance of Precision Agriculture: Potential Opportunities for Autonomous Farm Equipment
Global Precision Farming Market (in US$ Million) for the Years 2020, 2022, 2024 and 2026
Government Budgets for Autonomous Agricultural Technology in Support of Food Security Goals to Benefit Market Growth
Shrinking Labor for Agriculture Raises the Need for Automation: Percentage (%) of Agricultural Workers in the Global Workforce for the Years 1992, 2019 & 2022
Growing Farm Sizes and Increase in Corporate Farming Raises Importance of Autonomous Farm Equipment
Farm Consolidation & Increase in Average Size of Farm Pave the Way for the Deployment of Autonomous Farm Equipment: Percentage Breakdown of Farm Land by Size and Region
As a Bridge to Fully Autonomous Vehicles, Partially Autonomous Vehicles Enjoy Significant Market Dominance
Driverless Tractors: The Future of Farming on Large Farmlands
Efficiency and Productivity Benefits of Autonomous Tractors Translate into Better Crop Yields, Driving Market
Autonomous Vineyard Tractors to Provide Assistance to Growers
Increasing Need to Minimize Greenhouse Gas Emissions Fuel Demand for Sustainable Autonomous Tractors
Advances in Autonomous Tractor Technologies to Fuel Market Prospects
Agricultural Drones & Robots Emerge to Revolutionize Farming in the 21st Century
Expanding Applications of Commercial Drones Supported by Progressive Improvements in Functionality to Help Autonomous Farm Equipment Cross the Chasm Between Early Adoption to Mass Adoption: Global Commercial Drone Market (In US$ Billion) for the Years 2019, 2022 and 2024
Myriad Benefits Drive the Popularity of Automated Harvesters
Grain Loss During Harvesting Caused by Current Generation Machines Drives Demand for Smart Autonomous Harvesting Machines: Corn Head Kernel Loss While Harvesting With a Combine Harvester
Technological Advancements in Autonomous Technologies to Boost Market Prospects
Tractor Autopilot for Enhancing Farmer Productivity & Efficiency
TABLE 1: World Recent Past, Current & Future Analysis for Autonomous Farm Equipment by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2023 through 2030 and % CAGR
TABLE 2: World 7-Year Perspective for Autonomous Farm Equipment by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets for Years 2024 & 2030
TABLE 3: World Recent Past, Current & Future Analysis for Partially Autonomous by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2023 through 2030 and % CAGR
TABLE 4: World 7-Year Perspective for Partially Autonomous by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2024 & 2030
TABLE 5: World Recent Past, Current & Future Analysis for Fully Autonomous by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2023 through 2030 and % CAGR
TABLE 6: World 7-Year Perspective for Fully Autonomous by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2024 & 2030
TABLE 7: World Recent Past, Current & Future Analysis for Tractors by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2023 through 2030 and % CAGR
TABLE 8: World 7-Year Perspective for Tractors by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2024 & 2030
TABLE 9: World Recent Past, Current & Future Analysis for Harvesters by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2023 through 2030 and % CAGR
TABLE 10: World 7-Year Perspective for Harvesters by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2024 & 2030
TABLE 11: World Recent Past, Current & Future Analysis for Other Product Types by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in US$ Million for Years 2023 through 2030 and % CAGR
TABLE 12: World 7-Year Perspective for Other Product Types by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2024 & 2030
TABLE 13: World Autonomous Farm Equipment Market Analysis of Annual Sales in US$ Million for Years 2020 through 2030
III. MARKET ANALYSIS
UNITED STATES
Autonomous Farm Equipment Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United States for 2024 (E)
Autonomous Farm Equipment Market in the US: An Overview
Driverless Tractors Poised for Growth in the Long Run
TABLE 14: USA Recent Past, Current & Future Analysis for Autonomous Farm Equipment by Type - Partially Autonomous and Fully Autonomous - Independent Analysis of Annual Sales in US$ Million for the Years 2023 through 2030 and % CAGR
TABLE 15: USA 7-Year Perspective for Autonomous Farm Equipment by Type - Percentage Breakdown of Value Sales for Partially Autonomous and Fully Autonomous for the Years 2024 & 2030
TABLE 16: USA Recent Past, Current & Future Analysis for Autonomous Farm Equipment by Product Type - Tractors, Harvesters and Other Product Types - Independent Analysis of Annual Sales in US$ Million for the Years 2023 through 2030 and % CAGR
TABLE 17: USA 7-Year Perspective for Autonomous Farm Equipment by Product Type - Percentage Breakdown of Value Sales for Tractors, Harvesters and Other Product Types for the Years 2024 & 2030
CANADA
TABLE 18: Canada Recent Past, Current & Future Analysis for Autonomous Farm Equipment by Type - Partially Autonomous and Fully Autonomous - Independent Analysis of Annual Sales in US$ Million for the Years 2023 through 2030 and % CAGR
TABLE 19: Canada 7-Year Perspective for Autonomous Farm Equipment by Type - Percentage Breakdown of Value Sales for Partially Autonomous and Fully Autonomous for the Years 2024 & 2030
TABLE 20: Canada Recent Past, Current & Future Analysis for Autonomous Farm Equipment by Product Type - Tractors, Harvesters and Other Product Types - Independent Analysis of Annual Sales in US$ Million for the Years 2023 through 2030 and % CAGR
TABLE 21: Canada 7-Year Perspective for Autonomous Farm Equipment by Product Type - Percentage Breakdown of Value Sales for Tractors, Harvesters and Other Product Types for the Years 2024 & 2030
JAPAN
Autonomous Farm Equipment Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Japan for 2024 (E)
Market Overview
TABLE 22: Japan Recent Past, Current & Future Analysis for Autonomous Farm Equipment by Type - Partially Autonomous and Fully Autonomous - Independent Analysis of Annual Sales in US$ Million for the Years 2023 through 2030 and % CAGR
TABLE 23: Japan 7-Year Perspective for Autonomous Farm Equipment by Type - Percentage Breakdown of Value Sales for Partially Autonomous and Fully Autonomous for the Years 2024 & 2030
TABLE 24: Japan Recent Past, Current & Future Analysis for Autonomous Farm Equipment by Product Type - Tractors, Harvesters and Other Product Types - Independent Analysis of Annual Sales in US$ Million for the Years 2023 through 2030 and % CAGR
TABLE 25: Japan 7-Year Perspective for Autonomous Farm Equipment by Product Type - Percentage Breakdown of Value Sales for Tractors, Harvesters and Other Product Types for the Years 2024 & 2030
CHINA
Autonomous Farm Equipment Market Presence - Strong/Active/Niche/Trivial - Key Competitors in China for 2024 (E)
TABLE 26: China Recent Past, Current & Future Analysis for Autonomous Farm Equipment by Type - Partially Autonomous and Fully Autonomous - Independent Analysis of Annual Sales in US$ Million for the Years 2023 through 2030 and % CAGR
TABLE 27: China 7-Year Perspective for Autonomous Farm Equipment by Type - Percentage Breakdown of Value Sales for Partially Autonomous and Fully Autonomous for the Years 2024 & 2030
TABLE 28: China Recent Past, Current & Future Analysis for Autonomous Farm Equipment by Product Type - Tractors, Harvesters and Other Product Types - Independent Analysis of Annual Sales in US$ Million for the Years 2023 through 2030 and % CAGR
TABLE 29: China 7-Year Perspective for Autonomous Farm Equipment by Product Type - Percentage Breakdown of Value Sales for Tractors, Harvesters and Other Product Types for the Years 2024 & 2030
EUROPE
Autonomous Farm Equipment Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Europe for 2024 (E)
Autonomous Tractors Market in Europe: Long-term Prospects Remain Positive
TABLE 30: Europe Recent Past, Current & Future Analysis for Autonomous Farm Equipment by Geographic Region - France, Germany, Italy, UK and Rest of Europe Markets - Independent Analysis of Annual Sales in US$ Million for Years 2023 through 2030 and % CAGR
TABLE 31: Europe 7-Year Perspective for Autonomous Farm Equipment by Geographic Region - Percentage Breakdown of Value Sales for France, Germany, Italy, UK and Rest of Europe Markets for Years 2024 & 2030
TABLE 32: Europe Recent Past, Current & Future Analysis for Autonomous Farm Equipment by Type - Partially Autonomous and Fully Autonomous - Independent Analysis of Annual Sales in US$ Million for the Years 2023 through 2030 and % CAGR
TABLE 33: Europe 7-Year Perspective for Autonomous Farm Equipment by Type - Percentage Breakdown of Value Sales for Partially Autonomous and Fully Autonomous for the Years 2024 & 2030
TABLE 34: Europe Recent Past, Current & Future Analysis for Autonomous Farm Equipment by Product Type - Tractors, Harvesters and Other Product Types - Independent Analysis of Annual Sales in US$ Million for the Years 2023 through 2030 and % CAGR
TABLE 35: Europe 7-Year Perspective for Autonomous Farm Equipment by Product Type - Percentage Breakdown of Value Sales for Tractors, Harvesters and Other Product Types for the Years 2024 & 2030
FRANCE
Autonomous Farm Equipment Market Presence - Strong/Active/Niche/Trivial - Key Competitors in France for 2024 (E)
TABLE 36: France Recent Past, Current & Future Analysis for Autonomous Farm Equipment by Type - Partially Autonomous and Fully Autonomous - Independent Analysis of Annual Sales in US$ Million for the Years 2023 through 2030 and % CAGR
TABLE 37: France 7-Year Perspective for Autonomous Farm Equipment by Type - Percentage Breakdown of Value Sales for Partially Autonomous and Fully Autonomous for the Years 2024 & 2030
TABLE 38: France Recent Past, Current & Future Analysis for Autonomous Farm Equipment by Product Type - Tractors, Harvesters and Other Product Types - Independent Analysis of Annual Sales in US$ Million for the Years 2023 through 2030 and % CAGR
TABLE 39: France 7-Year Perspective for Autonomous Farm Equipment by Product Type - Percentage Breakdown of Value Sales for Tractors, Harvesters and Other Product Types for the Years 2024 & 2030
GERMANY
Autonomous Farm Equipment Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Germany for 2024 (E)
TABLE 40: Germany Recent Past, Current & Future Analysis for Autonomous Farm Equipment by Type - Partially Autonomous and Fully Autonomous - Independent Analysis of Annual Sales in US$ Million for the Years 2023 through 2030 and % CAGR
TABLE 41: Germany 7-Year Perspective for Autonomous Farm Equipment by Type - Percentage Breakdown of Value Sales for Partially Autonomous and Fully Autonomous for the Years 2024 & 2030
TABLE 42: Germany Recent Past, Current & Future Analysis for Autonomous Farm Equipment by Product Type - Tractors, Harvesters and Other Product Types - Independent Analysis of Annual Sales in US$ Million for the Years 2023 through 2030 and % CAGR
TABLE 43: Germany 7-Year Perspective for Autonomous Farm Equipment by Product Type - Percentage Breakdown of Value Sales for Tractors, Harvesters and Other Product Types for the Years 2024 & 2030
ITALY
TABLE 44: Italy Recent Past, Current & Future Analysis for Autonomous Farm Equipment by Type - Partially Autonomous and Fully Autonomous - Independent Analysis of Annual Sales in US$ Million for the Years 2023 through 2030 and % CAGR
TABLE 45: Italy 7-Year Perspective for Autonomous Farm Equipment by Type - Percentage Breakdown of Value Sales for Partially Autonomous and Fully Autonomous for the Years 2024 & 2030
TABLE 46: Italy Recent Past, Current & Future Analysis for Autonomous Farm Equipment by Product Type - Tractors, Harvesters and Other Product Types - Independent Analysis of Annual Sales in US$ Million for the Years 2023 through 2030 and % CAGR
TABLE 47: Italy 7-Year Perspective for Autonomous Farm Equipment by Product Type - Percentage Breakdown of Value Sales for Tractors, Harvesters and Other Product Types for the Years 2024 & 2030
UNITED KINGDOM
Autonomous Farm Equipment Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United Kingdom for 2024 (E)
TABLE 48: UK Recent Past, Current & Future Analysis for Autonomous Farm Equipment by Type - Partially Autonomous and Fully Autonomous - Independent Analysis of Annual Sales in US$ Million for the Years 2023 through 2030 and % CAGR
TABLE 49: UK 7-Year Perspective for Autonomous Farm Equipment by Type - Percentage Breakdown of Value Sales for Partially Autonomous and Fully Autonomous for the Years 2024 & 2030
TABLE 50: UK Recent Past, Current & Future Analysis for Autonomous Farm Equipment by Product Type - Tractors, Harvesters and Other Product Types - Independent Analysis of Annual Sales in US$ Million for the Years 2023 through 2030 and % CAGR
TABLE 51: UK 7-Year Perspective for Autonomous Farm Equipment by Product Type - Percentage Breakdown of Value Sales for Tractors, Harvesters and Other Product Types for the Years 2024 & 2030
REST OF EUROPE
TABLE 52: Rest of Europe Recent Past, Current & Future Analysis for Autonomous Farm Equipment by Type - Partially Autonomous and Fully Autonomous - Independent Analysis of Annual Sales in US$ Million for the Years 2023 through 2030 and % CAGR
TABLE 53: Rest of Europe 7-Year Perspective for Autonomous Farm Equipment by Type - Percentage Breakdown of Value Sales for Partially Autonomous and Fully Autonomous for the Years 2024 & 2030
TABLE 54: Rest of Europe Recent Past, Current & Future Analysis for Autonomous Farm Equipment by Product Type - Tractors, Harvesters and Other Product Types - Independent Analysis of Annual Sales in US$ Million for the Years 2023 through 2030 and % CAGR
TABLE 55: Rest of Europe 7-Year Perspective for Autonomous Farm Equipment by Product Type - Percentage Breakdown of Value Sales for Tractors, Harvesters and Other Product Types for the Years 2024 & 2030
ASIA-PACIFIC
Autonomous Farm Equipment Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Asia-Pacific for 2024 (E)
India Jumps on the Autonomous Tractors Bandwagon
Government Initiatives to Benefit Market
TABLE 56: Asia-Pacific Recent Past, Current & Future Analysis for Autonomous Farm Equipment by Type - Partially Autonomous and Fully Autonomous - Independent Analysis of Annual Sales in US$ Million for the Years 2023 through 2030 and % CAGR
TABLE 57: Asia-Pacific 7-Year Perspective for Autonomous Farm Equipment by Type - Percentage Breakdown of Value Sales for Partially Autonomous and Fully Autonomous for the Years 2024 & 2030
TABLE 58: Asia-Pacific Recent Past, Current & Future Analysis for Autonomous Farm Equipment by Product Type - Tractors, Harvesters and Other Product Types - Independent Analysis of Annual Sales in US$ Million for the Years 2023 through 2030 and % CAGR
TABLE 59: Asia-Pacific 7-Year Perspective for Autonomous Farm Equipment by Product Type - Percentage Breakdown of Value Sales for Tractors, Harvesters and Other Product Types for the Years 2024 & 2030
REST OF WORLD
TABLE 60: Rest of World Recent Past, Current & Future Analysis for Autonomous Farm Equipment by Type - Partially Autonomous and Fully Autonomous - Independent Analysis of Annual Sales in US$ Million for the Years 2023 through 2030 and % CAGR
TABLE 61: Rest of World 7-Year Perspective for Autonomous Farm Equipment by Type - Percentage Breakdown of Value Sales for Partially Autonomous and Fully Autonomous for the Years 2024 & 2030
TABLE 62: Rest of World Recent Past, Current & Future Analysis for Autonomous Farm Equipment by Product Type - Tractors, Harvesters and Other Product Types - Independent Analysis of Annual Sales in US$ Million for the Years 2023 through 2030 and % CAGR
TABLE 63: Rest of World 7-Year Perspective for Autonomous Farm Equipment by Product Type - Percentage Breakdown of Value Sales for Tractors, Harvesters and Other Product Types for the Years 2024 & 2030