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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