Global Agricultural Sprayers Market to Reach $2.6 Billion by 2026
SAN FRANCISCO, June 1, 2021 /PRNewswire/ -- A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled "Agricultural Sprayers - Global Market Trajectory & Analytics". The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.
FACTS AT A GLANCE
Edition: 8; Released: May 2021
Executive Engagements: 5767
Companies: 74– Players covered include AGCO Corporation; AMAZONE H. Dreyer GmbH & Co. KG; Andreas Stihl AG & Company KG; ASPEE Agro Equipment Pvt Ltd; BGROUP SPA; Bucher Industries AG; CNH Industrial N.V.; Deere & Company; Demco Manufacturing Co.; EXEL Industries SA; GUSS Automation, LLC; GVM Incorporated; HARDI INTERNATIONAL A/S; Hockley International Limited; Kubota Corporation; Kuhn Group; Kverneland Group; Mahindra & Mahindra Ltd.; Maquinas Agricolas Jacto S.A.; Reddick Equipment Company of NC, LLC; SZ DJI Technology Co., Ltd.; Yamaha Motor Corporation, USA and Others.
Coverage: All major geographies and key segments
Segments: Crop (Cereals, Oilseeds, Fruits & Vegetables, Other Crops); Farm Size (Small, Medium, Large); Type (Handheld, Self-Propelled, Tractor-Mounted, Trailed, Aerial)
Geographies: World; USA; Canada; Japan; China; Europe; France; Germany; Italy; UK; Spain; Russia; Rest of Europe; Asia-Pacific; Australia; India; South Korea; Rest of Asia-Pacific; Latin America; Argentina; Brazil; Mexico; Rest of Latin America; Middle East; Iran; Israel; Saudi Arabia; UAE; Rest of Middle East; Africa.
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ABSTRACT-
Global Agricultural Sprayers Market to Reach $2.6 Billion by 2026
The agriculture industry is set to undergo notable transformation in the post-COVID-19 era owing to continuous influx and implementation of new concepts and technologies. The shift is expected to help farmers in revolutionizing operations for better yields, environmental gains and less wastage. AI holds immense potential to help the agriculture industry to become smarter and efficient while reducing waste. COVID-19 has accelerated the adoption of AI-powered technologies in the industry. Agriculture professionals are realizing notable benefits of using drones for tasks like seeding, field surveying and spraying while keeping farmers safe. Amid the COVID-19 crisis, the global market for Agricultural Sprayers estimated at US$1.8 Billion in the year 2020, is projected to reach a revised size of US$2.6 Billion by 2026, growing at a CAGR of 6.2% over the analysis period. Handheld Sprayers, one of the segments analyzed in the report, is projected to record a 4.8% CAGR and reach US$350.6 Million by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Self-Propelled Sprayers segment is readjusted to a revised 7.5% CAGR for the next 7-year period.
The U.S. Market is Estimated at $312.2 Million, While China is Forecast to Reach $892.3 Million by 2026
The Agricultural Sprayers market in the U.S. is estimated at US$312.2 Million in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of US$892.3 Million by the year 2026 trailing a CAGR of 8% over the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 4.2% and 3.8% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 4.2% CAGR. In the developed markets, growth will be supported by advancements focused on developing advanced sprayers with enhanced capabilities, particularly with regard to data and electronic features. Sensors are being deployed for monitoring spray drift. The growing use of GPS and robotic systems in advanced spraying machinery is ensuring automated application of nutrients and pesticides in a timely, targeted and efficient manner. The use of such technologies also ensures that farming is transformed into an eco-friendly sector.
Tractor-Mounted Sprayers Segment to Reach $474.6 Million by 2026
The tractor mounted sprayers feature a tank with a capacity in the range of 150-500 gallons, and a hydraulic motor that drives the pump provided on the power takeoff shaft. Booms of the sprayer are either provided in the rear, front or belly of the tractor. The sprayer remains silent while passing through open areas and gets activated as the tractor crosses a plant canopy. In the global Tractor-Mounted Sprayers segment, USA, Canada, Japan, China and Europe will drive the 6.2% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$241.4 Million in the year 2020 will reach a projected size of US$366.9 Million by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$90.3 Million by the year 2026, while Latin America will expand at a 7% CAGR through the analysis period. More
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Global Industry Analysts, Inc., (www.strategyr.com) is a renowned market research publisher the world's only influencer driven market research company. Proudly serving more than 42,000 clients from 36 countries, GIA is recognized for accurate forecasting of markets and industries for over 33 years.
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