The agricultural sprayers market was valued at USD 1.75 Billion in 2016, and is projected to reach USD 2.63 Billion by 2022, growing at a CAGR of 7.12% from 2017, in terms of value. In terms of volume, the market is projected to reach 306.9 thousand units by 2022.
Northbrook, IL -- (SBWIRE) -- 10/30/2018 -- The report "Agricultural Sprayers Market by Type (Handheld, Self-Propelled, Tractor-mounted, Trailed, Aerial), Power Source (Fuel-based, Electric & Battery-driven, Solar, Manual), Capacity (Ultra-low Volume, Low Volume, High Volume), & Region - Global Forecast to 2022", The market for agricultural sprayers, in terms of value, is estimated to be USD 1.86 Billion in 2017, and is projected to reach USD 2.63 Billion by 2022, at a CAGR of 7.12% from 2017.
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The growing technological advancements and extensive changes in farming and spraying technologies are some of the major factors fueling the demand for agricultural sprayers. Sprayers have become essential for farm operators for spraying pesticides, herbicides, and fertilizers as per the requirement. Thus, increasing focus on farm efficiency and productivity, growing farm size, and rising production of cereals and grains in Asian countries are expected to drive the growth of the agricultural sprayers market.
Significant growth expected in the fuel-based sprayers segment
In 2016, the fuel-based segment accounted for the largest share, by power source, in the agricultural sprayers market in terms of value and volume. Owing to technological advancements, the popularity of fuel-based sprayers on large and medium farms and growing demand for large capacity from farmers with large farms are driving the growth for fuel-based sprayers, globally.
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Turf, ornamentals, and others: The fastest growing crop type in the agricultural sprayers market
The others segment includes turf & ornamentals, floriculture crops, permanent crops, pastures, grasslands, and other cultivations. This segment is projected to grow at the highest CAGR from 2017 to 2022, growing population at a faster pace act as a major driving factor for agricultural sprayers as it drives the demand for food which aggressively is demanding for high-efficiency equipment. This is expected to help grow the agricultural sprayers market in the next five years. Growing application of plant regulators and herbicides in turf and ornamentals is a major reason for the growth of agricultural sprayers in the others segment.
High HP self-propelled sprayer is projected to be the fastest growing segment in the agricultural sprayers market in 2022
The demand for high HP self-propelled sprayers is increasing around the globe, especially in developing countries such as China, India, and Brazil. In this report, the self-propelled segment is further subsegmented on the basis of horsepower (HP) such as low HP, medium HP, and high HP. High HP is projected to be the fastest growing segment for agricultural sprayers in the self-propelled sprayers segment in 2022.
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Asia Pacific is projected to be the fastest-growing regional market for agricultural sprayers
The Asia Pacific region is projected to be the fastest-growing market for agricultural sprayers, owing to increase in agricultural practices and use of advanced technological farm equipment and the rapidly growing consumer markets of China, India, Australia, and Japan.
In this region, countries such as India, China, and Japan have embraced various agricultural techniques and hold a major share of the agriculture sprayers market. India is one of the fastest growing markets for agricultural sprayers in the Asia Pacific region. The adoption rate of agricultural equipment in India is developing considerably. The population is also increasing rapidly, which creates a need for food in the Indian markets, which drives the market for agricultural sprayers.
This report studies marketing and development strategies, along with the product portfolios of leading companies such as John Deere (US), CNH Industrial (UK), and Kubota (Japan). Other companies include Mahindra & Mahindra (India), STIHL (Germany), AGCO Corporation (US), Yamaha (Japan), and EXEL Industries (France).
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