Farm machinery manufacturers are offering driverless tractors and robots to individual farmers and corporate farming companies. Driverless tractors and robots automate the weeding and harvesting process. They use GPS and sensors and can be controlled using a tablet or a smart phone. These technologies are known to considerably increase farm output and decrease labor costs. For instance, according to a report by Goldman Sachs, automated tractors can raise farmer revenue by more than 10% and reduce farm labor costs. Companies offering driverless tractor and robot technologies include CNH Industrial, Deere, and AGCO have already started developing such technology.
THE BUSINESS RESEARCH COMPANY EXPECTS THE AGRICULTURE, CONSTRUCTION, AND MINING MACHINERY MANUFACTURING MARKET TO GROW TO $970 BILLION BY 2021
Asia Pacific was the largest region in the agriculture, construction, and mining machinery manufacturing market in 2017, accounting for two fifth of the market share.
According to The Business Research Company’s Consultant, Nitin Gianchandani, agriculture equipment companies are offering telematics systems to farmers to enable wireless transfer of data between the equipment and its user. Telematics refers to the technology of collecting data from a farm equipment operating in a field and then transferring the data to customers through internet on real time basis. This enables farmers to remotely collect and manage information from their field equipment, enhance operational efficiencies and reduce production costs. Major companies offering telematics technology include Trimble’s Connected Farm, John Deere’s JD Link Ultimate, and AGCO’s AgCommand Advanced Telematics service.
Caterpillar was the largest competitor in the agriculture, construction, and mining machinery manufacturing market in 2017, with revenues of $35.8 billion for the financial year 2016. The company is looking to pursue aftermarket parts, services and solutions growth along with achieving leading performance across its portfolio including growth in the construction, energy and transportation industries.
The agriculture, construction, and mining machinery manufacturing industry comprises establishments offering farm machinery and equipment, lawn and garden tractor, home lawn and garden equipment, construction machinery, mining machinery and equipment, and oil and gas field machinery and equipment manufacturing.
Agriculture, Construction, And Mining Machinery Manufacturing Market Global Briefing 2018 is a detailed report giving a unique insight into this market. The report is priced at $1000 for an individual user. To use across your office, the price is $1500 and $2000 if you wish to use across a multinational company.
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