DUBLIN--(BUSINESS WIRE)--ResearchAndMarkets.com has added the "2030 Global Autonomous Agricultural, Construction and Mining Machinery Market Opportunities and Strategies: COVID-19 Impact and Recovery" report to the products of ResearchAndMarkets.com.
The global autonomous agricultural, construction and mining machinery market is expected to grow from USD 22.49 billion in 2020 to USD 26.79 billion in 2021, with a compound annual growth rate (CAGR) of 19.0%.
The market is expected to grow at a compound annual growth rate of 14.1% from 2020 to reach US$43.501 billion by 2025. The global autonomous agricultural, construction and mining machinery market is expected to reach US$67.044.9 billion by 2030, with a compound annual growth rate of 9.0%.
The growth in the historical period stems from strong economic growth in emerging markets, increased construction activities, low interest rates, favorable government policies, construction safety and technological development needs. The factors that have negatively affected growth in the historical period are the lack of experience in using autonomous technology, fluctuations in oil prices, fluctuations in raw material prices, geopolitical tensions, lack of awareness, high costs, and unemployment risks.
Looking ahead, labor shortages, technological advancements, increased awareness and increasing safety issues will drive growth. Factors that may hinder the growth of the autonomous agriculture, construction and mining machinery markets in the future include security and cybersecurity issues, geopolitical tensions, increasing reliance on renewable energy, and the outbreak of coronavirus disease (COVID-19).
The Asia-Pacific region is the largest region in the global autonomous agricultural, construction and mining machinery market, accounting for 34.8% of the total in 2020. Followed by North America, Western Europe, and then other regions. Looking ahead, the fastest-growing regions for autonomous agriculture, construction and mining machinery markets will be the Middle East and Africa, with compound annual growth rates of 16.8% and 16.3%, respectively. It is followed by Asia Pacific and Eastern Europe, which are expected to grow at a compound annual growth rate of 15.5% and 14.3% during 2020-2025.
The global autonomous agriculture, construction, and mining machinery markets are relatively concentrated, with a few large players. The top ten competitors in the market in 2020 account for 65.14% of the entire market. Major market participants include Caterpillar, Deere, AGCO, CNH Industrial NV, Kubota, etc.
The global autonomous agricultural machinery market is highly concentrated, with a small number of big players. The top ten competitors in the market in 2020 accounted for 19.7% of the entire market. Major market participants include Deere & Company, AGCO Corporation, CNH Industrial NV, Kubota Corporation, CLAAS KGaA mbH, etc.
The global market for independent construction machinery is concentrated, and a few large companies dominate the market. The top ten competitors in the market in 2020 account for 77.5% of the entire market. The main players in the market include Caterpillar Corporation, Komatsu Co., Ltd., Volvo Group, Doosan Corporation, Hitachi Construction Machinery Co., Ltd., etc.
The mining machinery market is highly concentrated and the number of big players is small. The top ten competitors in the market in 2020 accounted for 96.7% of the total market. The main market participants include Sandvik, Caterpillar, Komatsu, Hitachi Construction Machinery, Liebherr Group, etc.
1. Executive summary of autonomous agricultural, construction and mining machinery markets
7. Market characteristics of independent agriculture, construction, and mining machinery
7.4. Autonomous Agricultural Machinery Market Segmentation by Type
7.5. Autonomous Agricultural Machinery Market Segmentation by Application
7.7. Autonomous Construction Market Segmentation by Product Type
7.7.4. Concrete and road construction equipment
7.8. Autonomous Construction Market Segmentation by Application
7.10. Autonomous Mining Machinery Market Segmentation by Type
7.11. Autonomous Mining Machinery Market Segmentation by Application
8. Market trends and strategies for autonomous agriculture, construction and mining machinery
8.1.2. Robotic milking machines for improving efficiency and reducing labor costs
8.1.4. Robot lawn handlers for fertilizing lawns
8.2.1. Construction machinery driven by artificial intelligence
8.2.4. Autonomous construction machinery based on the Internet of Things
8.3.1. Use of the Internet of Things (IoT)
8.3.2. Use artificial intelligence (AI) and machine learning (ML) in mining machinery
8.3.4. The mining industry has an increasing demand for advanced driver assistance systems for deployment of vehicles
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ResearchAndMarkets.com Laura Wood, Senior Press Manager press@researchandmarkets.com US Eastern Time Office Hours Call 1-917-300-0470 US/Canada Toll Free 1-800-526-8630 GMT Office Hours Call 353-1-416-8900