Battery-operated Agricultural Sprayers to Hold Over 50% Revenue Share in the Global Market: Fact.MR Study
Published : 30 Nov 2021 Industry: Industrial Goods
Fact.MR, a market research and competitive intelligence provider, has conducted a comprehensive analysis on the agricultural sprayers market, which is expected to progress at a CAGR of 6% over the forecast period (2021 to 2031), and reach a valuation of US$ 3.2 Bn by 2031.
Agriculture has always been a risky business, and farmers all over the world have been affected by economic downturns and environmental changes. However, farmers have experienced numerous benefits from the newest technological versions of agricultural sprayers, including lower cost, improved spray efficiency, increased safety, and fewer crop and environmental harm. As a result, demand for agricultural sprayers in the global market is increasing.
Technological transformations and digitization of the agriculture industry, along with demand for new tools and production methods, will remain key to the demand growth of agricultural sprayers. Shift in end-user preferences for modern farming techniques and equipment has led to an upsurge in the sales of next-generation agricultural machinery, in turn, influencing the growth of the agricultural sprayers market.
Key Takeaways from Market Study
- Global agricultural sprayers market to top US$ 3.2 Bn by 2031.
- Handheld agricultural sprayers projected to reach around US$ 400 Mn by 2031.
- Self-propelled agricultural sprayers projected to record above 7% CAGR over the next 10 years.
- Market in APEJ holds share of more than 40%.
- Market in Japan to record 4% CAGR over forecast period of 2021- 2031.
“Rising adoption of precision farming techniques and various technologies such as drones and self-driving sprayers is creating significant and appealing potential for agriculture sprayer suppliers to flourish,” says a Fact.MR analyst.
Leading manufacturers of agricultural sprayers are adopting cognitive technologies to meet growing end-user requirements for more efficient, productive, and precise agricultural machines.
Partnerships, joint ventures, and other strategies raise the market share of companies by expanding their reach and presence.
- In November 2019, K-Line Ag, an Australian implement maker, was acquired by CNH Industrial America LLC. This acquisition has aided the company in providing high-quality agricultural products to its clients as well as expanding its agriculture-related product portfolio, resulting in increased revenue.
More Valuable Insights Available
Fact.MR, in its new offering, presents an unbiased analysis of the agricultural sprayers market, presenting historical demand data (2016-2020) and forecast statistics for the period of 2021-2031.
The study divulges essential insights on the market on the basis of, product type (handheld, self-propelled, low HP, medium HP, high HP, tractor-mounted, trailed, aerial, and others), capacity (ultra-low volume, low volume, and high volume), power source (manual, battery-operated, fuel-operated, solar, and electric), nozzle type (hydraulic nozzle, gaseous nozzle, centrifugal nozzle, and thermal nozzle), and usage (field sprayers, orchard sprayers, and gardening sprayers), across seven major regions of the world (North America, Latin America, Europe, East Asia, South Asia, Oceania, and the Middle East & Africa).
About the Industrial Division at Fact.MR
Expert analysis, actionable insights, and strategic recommendations of the highly seasoned Industrial team at Fact.MR helps clients from across the globe with their unique business intelligence needs. With a repertoire of over thousand reports and 1 million-plus data points, the team has analyzed the industrial goods domain across 50+ countries for over a decade. The team provides unmatched end-to-end research and consulting services. Reach out to explore how we can help.
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Consultant - Industrial Goods and Automotive