Agricultural Sprayers Market - Dependency on Leading Market Players Promise Rising Growth, details Fact.MR study | Key Players - AGCO Corporation, Mahindra & Mahindra, STIHL, DJI, Yamaha Motor Sports, Bucher Industries, EXEL Industries, CNH Industrial

A recent study published by Fact.MR estimates the agricultural sprayer sales to surpass 3 million units by 2020. The study finds that technological transformations and digitization of the agriculture industry, along with demand for new tools and production methods, will remain key to growth of the agricultural sprayers industry.

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According to the study, leading manufacturers are adopting cognitive technologies to meet growing end-user requirements for more efficient, productive, and precise agricultural machines. More than 75 million IoT-integrated agricultural equipment & machinery will be sold by 2020, according to the World Government Summit. The shift in end-user preferences for modern farming techniques and equipment has led to an upsurge in the sales of next-generation agricultural machineries, in turn influencing growth of the agricultural sprayers market.

The study opines that advancements in the battery technology, and its integration into the agricultural sprayers, will boost sales of battery-operated agricultural sprayers. Battery-operated agricultural sprayers are estimated to exceed 1.7 million units in 2020. Readers can find a complete assessment on salient factors instrumental in shaping the future of agricultural sprayers market in this study.

APEJ Remains Most Lucrative for Agricultural Sprayer Sales

The Fact.MR study estimates sales of agricultural sprayers in APEJ to close in on 1.3 million units by 2020. As the agriculture sector significantly contributes to the GDP of Asian countries, prospects remain bullish for sales of high-tech farming machineries in the region. APEJ is expected to account for over 43% of the global agricultural sprayers sales by 2020.

According to the study, gains from agricultural sprayer sales in China and India will remain promising, with key developmental programs taken by the governments in these countries that drives demand for agricultural machineries to improve productivity. Governing organizations in these countries are also offering subsidies and loans to farmers, encouraging the adoption of modern farming practices that involves advanced equipment and machinery. The agricultural sprayers market in APEJ will benefit from favorable government policies that prompt the shift from traditional, labor-intensive farming practices to a more mechanized approach.

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Leading players in the agricultural sprayers market are vying for opportunities in APEJ, to capitalize on increased demand. As products of the local manufacturers in the region are incompetent to those of their international competitors in terms of technology and specialization, opportunities remain robust for the latter in APEJ. Additionally, leading companies in the agricultural sprayers market are focusing on strategic partnership with local manufacturers, to meet the burgeoning demand for customized, sustainable, and technologically advanced agricultural sprayers.

Tractor-mounted Agricultural Sprayers Preferred among End-Users

The study finds that tractor-mounted sprayers are becoming a popular choice, not only among small-scale farmers, but also among large-scale end-users. In fact, large operators, who previously opted for self-propelled sprayers are making a move towards the tractor-mounted variants, as the latter facilitates large-scale farming operations.

Preference for the tractor-mounted agricultural sprayer over self-propelled category can also be backed by high operational and maintenance costs, limited application scope, and higher fuel consumption linked with the latter. Operational flexibility of tractor-mounted agricultural sprayers enables end-users to carry out both pest control processes and fertilization processes using a single equipment.

The study also highlights influence of the drone technology on prospects of the agricultural sprayers market. With the advent of ‘Agriculture 4.0,’ the agricultural machinery industry is witnessing a paradigm shift towards “precision agriculture”. Ongoing developments in the drone technology is expected to encourage market players to launch next-generation aerial sprayers in the upcoming years.

Fact.MR offers valuable insights on developments in the agricultural sprayers market during the forecast period 2019-2027. The market is projected to record a volume CAGR of 6% through 2027.

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This release was published on openPR.