Crop Sprayer Market Pegged to Expand Robustly During 2019-2023
The global crop sprayer market value is expected to be more than USD 4,977 million by 2025, reports Market Research Future (MRFR). The market could achieve an estimated CAGR of 4.44% during the forecast period (2014-2022).
Market Boosters and Key Challenges
The world is predominantly dependent on food, apart from clean water. Acquiring sufficient food is proving to be a major issue for most of the people around the world. This grave issue has turned agriculture into one of the most prominent industries in the world. Agricultural productivity defines not only the country’s economy but also the health and security status of its population. Therefore, high importance of agriculture in the economy of a country plays a major role in the growth of the crop sprayer market.
Population expansion, declined natural sources, increasing incomes, and changing climate conditions has led to increased food prices and agricultural productivity has come into question in recent years. As a result, various strategies are being adopted for triggering food productivity, which calls for latest technology and innovations. These effective strategies are expected to help the crop sprayers market reach greater heights in the ensuing years.
Green revolution has brought about a major transformation in the traditional farming concept. Intense efforts are being given to evolve farming methods has led to high food production in Latin America as well as Asia Pacific. Few parts of the Middle East and Africa are noting massive efforts being put in the green revolution, but to no avail. So, this leads to rising need for assisting farmers in using advanced farming equipment. Farmers in such areas are deprived of modern equipment and are unaware of the modern techniques, given the lack of disposable income. Therefore, the number of government initiatives for aiding farmers has increased in recent years, benefitting the crop sprayer market as well.
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Market Segmentation
The segmental analysis of the worldwide crop sprayer market has been done with respect to product and capacity.
The crop sprayer market, in terms of product, includes electric, handheld, and fuel-based. In 2018, the fuel-based segment had bagged the top spot and was estimated to remain at the same position throughout the review period. The fuel-based crop sprayers are used backed by conventional fuels like gasoline, petrol and diesel.
Depending on the capacity, the market is considered for low-volume sprayers, high-volume sprayers and ultra-low-volume sprayers. Between these, the high-volume sprayers had been the leading segment in the global crop sprayers market in 2018. It is expected to retain its leading position even during the forecast period.
Regional Outlook
Europe, North America, Asia Pacific (APAC), and the rest of the world (RoW) are the key markets for crop sprayer across the globe.
In 2018, the major portion of the global crop sprayer market came under APAC, with North America and Europe at the second and third spot, respectively. APAC’s dominance over the global market is the result of the massive contribution of countries like India, Indonesia, and China. These countries are focused on accelerating their agricultural production, which has also boosted the demand for low volume sprayers. China has been identified as the most lucrative market for crop sprayer in the region, thanks to the continuous up-gradation and modernization of farming processes that lead to increased agricultural income. Increasing interest among customers for raising farm productivity has also induced growth of the penetration of sprayers market in the country as well as the region.
North America, being the primary producer of corn, soybean, and wheat, seized the second-largest share of the crop sprayer market. The considerable production of these crops requires advanced agricultural equipment like crop sprayer, which stimulates market growth. Numerous technologies like driverless sprayers, drones, among others are offering attractive opportunities for market growth. Companies in the region are continuously upgrading their technology which helps satisfy the ever-increasing demand for cutting-edge technology. These companies are also making considerable investments in research and development (R&D) which has led to emergence of new products and could work in favor of the regional market in subsequent years.
Europe notes a significant rise in farm sizes, which boosts demand for crop sprayer market. Presence of a large number of vendors also has a profound effect on the market. Other instrumental factors in the market growth include strong demand for self-propelled sprayers as well as sprayers with large booms and nozzles.
RoW, comprising Latin America and the Middle East & Africa, is also doing well given the large-scale irrigation and rising mechanization. These factors are resulting in extensive production of high-value cash crops like vegetables, fruits, sugar, and cereals. High production of maize, rice, chickpeas, lentils, fruits, and vegetables in the region also induces business growth.
Significant Vendors
Significant vendors competing in the worldwide crop sprayer market include Hymatic Agro Equipment Pvt. Ltd (India), ASPEE Group (India), Bucher Industries (Switzerland), Deere & Company (US), Chafer Machinery Ltd (UK), Taizhou Sunny Agricultural Machinery Co., Ltd (China), Exel Industries (France), STIHL Holding AG & Co. KG (Germany), CNH Industrial (UK), Zhejiang Ousen Machinery Co., Ltd. (China), to name a few.
Exel Industries (France), ASPEE Group (India), and Hymatic Agro Equipment Pvt. Ltd (India).
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