LeapZipBlog: Amanpreet's blog: Agricultural Sprayers Market Led to Achieve Impulsive Growth during Forecast Period, 2018-2027

Agricultural Sprayers Market Led to Achieve Impulsive Growth during Forecast Period, 2018-2027

October 4, 2019 by Amanpreet  

The agricultural sprayers market grew at a volume CAGR of 4.5% during the period 2013-2018, underpinned by the transition from traditional farming methods to their high-tech variants.
    

  • In 2018, the sales of of agricultural sprayers surpassed 2,780 thousand units, and are estimated to record a Y-o-Y growth of over 5.0% in 2019. Companies in the agricultural sprayers industry have introduced high-precision and more convenient agricultural sprayers, to help farmers boost efficiency and profitability of farming procedures.

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  • The technology of agricultural sprayers has witnessed significant advancements, with growing needs for improved efficiency, accuracy, and productivity in agricultural spraying. The global market for agricultural sprayers is expected to register a volume CAGR of 6% through 2027.

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  • Asia Pacific excluding Japan (APEJ) remains the leading market for agricultural sprayers, as farming remains a prominent occupation in most economies in the region.

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  • APEJ is also expected to be the high-growth market for agricultural sprayers, led by led by varied developmental programs in the regions key economies – China and India.


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    What are the Key Growth Drivers of Agricultural Sprayers Market?

          
    • The permeation of advanced technologies into the agricultural industry has provided an impetus to the way modern agricultural sprayers are engineered. Adoption of next-generation technologies is fostering new trends in the agricultural sprayers market.

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    • Preference of young farmers are shifting from traditional farming techniques to new-age farming technologies, driving demand for advanced more effective, and convenient agricultural sprayers.

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    • Agricultural sprayers’ sales will remain significantly upheld by the Rapid rise in the production of grains and cereals, in line with the food fortification trend to meet nutrition-rich food requirements worldwide.

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    • Leading players in the agricultural sprayers industry are introducing innovative products with high performance characteristics, in terms of precision control and panoramic visibility, with the adoption of the sensors technology.


    Growing applications of the drone technology will translate into unprecedented growth of the agricultural sprayers market, as the real-time field information acquired through the precise drone technology aids significant improvement in the farm productivity and profitability

    What are the Key Challenges in the Agricultural Sprayers Market?

          
    • High capital investments needed for technologically advanced agricultural sprayers, such as aerial and self-propelled sprayers, is limiting the customer base, ultimately restricting growth of the agricultural sprayers market.

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    • Declining sales and lower penetration in underdeveloped economies owing to lack of technical expertise and low capital will hinder growth of the agricultural sprayers market in the upcoming years.


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    Agricultural Sprayers – Competitive Landscape

          
    • CNH Industrial N.V. – a leading capital goods company headquartered in the United Kingdom – announced the launch of its new Miller Nitro® series sprayers — the Miller Nitro 7370 and 7410 front boom models — in August 2018. The company aims to expand its portfolio of high-efficiency application equipment solutions by introducing new agriculture sprayers. The new models are specially designed for crop protection and late-season crop fertility applications, engineered with over 6 feet of ground clearance.

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    • AGCO Corporation – an American agricultural equipment manufacturer – announced the opening of its new agricultural sprayer production line in Brazil with its core brands Massey Ferguson and Valtra, in January 2018. The company further stated that the opening of the new agricultural sprayer production facility signifies company’s plans to leverage the burgeoning growth of the Brazilian agriculture industry. With the launch of more than 150 products during 2017-2019, the company aims to increase the volume delivered by AGCO Corporation to the agricultural sprayers market by nearly 40% in the coming years.

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    • Cummins, a leading manufacturer of engines, filtration, and power generation products, recently announced that it has collaborated with Crinklaw Farm Services Inc., a California-based agribusiness service provider, to launch world’s first and only autonomous orchard sprayer – Global Unmanned Spray System (GUSS). The company provides a fully integrated engine rated at 173hp for GUSS, which expands the sprayers range to cover thousands of acres of agricultural land and delivers clean combustion. The company also declared that the new agricultural sprayer is integrated with vehicle sensors and software, which can mitigate the labor challenges facing agriculture and improve operational precision, productivity, and safety.

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    • Bucher Industries AG, a Swiss technology group and a leading player in the agricultural sprayers market, declared its strategies to expand its presence in the agricultural machinery industry. In October 2018, the company announced that its subsidiary – Kuhn Group is acquiring Artec Pulvérisation – a French manufacturer of self-propelled agricultural sprayers. The company also announced that Bucher Specials with its Bucher Landtechnik business unit is planning to acquire the import business of Grunderco S.A. – a Swiss manufacturer of agricultural machineries – to strengthen its presence in western Switzerland.

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    • Deere & Company, a leading agricultural machinery manufacturing company, announced that it has entered a definitive agreement to acquire PLA – an Argentinian sprayer manufacturer, in September 2018. The company also announced that the PLA acquisition will enable the company to offer cost-effective and innovative equipment, services, and technologies to its customers in the agricultural sprayers market.


    AGCO Corporation, Mahindra & Mahindra, STIHL, DJI, Yamaha Motor Sports, Bucher Industries, EXEL Industries, CNH Industrial N.V., Kubota, and Deere & Co. are among the key companies operating in the agricultural sprayers market.

    Battery-operated Agricultural Sprayers Preferred over Manual and Solar Variants

    As the agriculture industry is rapidly progressing towards digitization, technological advancements are viewed as the bedrock upon which the new-generation agricultural equipment, including agricultural sprayers, are developed. Albeit new-established, the inextricable relationship between technologies and farming equipment has bolstered demand for more efficient and convenient agricultural sprayers.

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    As customers are spurning conventional fuels, the applications of batteries have expanded beyond automobiles and consumer electronics. Farmers are opting for battery-powered agricultural sprayers over solar or manual counterparts, in line with the need for sustainable yet cost-effective spraying equipment.

    Leading manufacturers in the agricultural sprayers industry are introducing battery-operated, rechargeable, and portable agricultural sprayers. In addition, incorporation of the battery technology is enabling manufacturers to take a step ahead towards manufacturing smart and intelligent agricultural sprayers, and ultimately gain a competitive edge in the market.

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