PUBLISHER: Orion Market Research | PRODUCT CODE: 1123207
PUBLISHER: Orion Market Research | PRODUCT CODE: 1123207
Global Agriculture Sprayer Market Research By Capacity (Low-Pressure Sprayer, and High-Pressure Sprayer), By Product Type (hand-Held Sprayer, Backpack Sprayer, Aerial Sprayer, Foot Sprayer, Tractor Mounted Sprayer, and Traction Pneumatic Sprayer), By Power Source (Electric Sprayer, Manual Sprayer, Solar Sprayer, and Fuel Based Sprayer), By Application (Field Sprayers, Orchard Sprayers, and Gardening Sprayers) Forecast, 2021-2027
The global agriculture sprayer market is growing at a CAGR of 6.2% during the forecast period (2021-2027). Agriculture sprayers are the tools used for lowering the risk of chemical exposure on plants or crops. The major factors that are augmenting the growth of the market include rapid industrialization increasing investment in the overall agriculture industry, government initiatives to produce effective crops, and an increase in the population increasing the production of crops such as cereals and grains. Modern agriculture sprayers have evolved to benefit the farmers by providing them with spray efficiency and less damage to the crops. The manufactures are indulged in providing several benefits to the farmers like low-cost sprayers with improved efficiency and innovations in technologies. Such benefits increase the interests of farmers which eventually leads to the growth of the market. The government policies are mostly in the favor of the agriculture market players as the agriculture sector generates considerable revenue that assists to drive the economy of a particular country.
However, the high cost of agriculture sprayers, less awareness among the farmers about the dosage limits and pesticide risks, and stringent government department regulations are some factors that are restraining the growth of the market during the forecast period. For instance, in January 2020, the Ministry of Agriculture and Farmers' Welfare, stated that extensive usage of drones for spraying insecticides and pesticides on agricultural fields is illegal as per the Insecticides Act of 1968. In contrast, the development of the spraying drone is a positive sign for the spraying industry, which is predicted to grow in the future years as a result of various new technologies. The technological advances have led farmers to effectively work on productivity, fertility, and profitability and with furthermore developments there will be a rise in interest among them to buy the sprayers which is an opportunity for the manufacturers.
Impact of COVID-19 on the Global Agriculture Sprayer Market
The global agriculture sprayers market is hardly hit by the outbreak of COVID-19 since December 2019. The outbreak of COVID-19 in these major economies has disrupted the manufacturing and supply of raw materials across the globe which resulted in a low supply of sprayers. India is one of the largest agriculture-based countries with approximately 75% of the population reliant on farming, directly or indirectly. Hence the outbreak of COVID-19 in India disrupted the global supply chain which therefore impacted the agriculture sprayers market negatively. Moreover, the shortage of labor forces due to lockdown and trade ban, loss of income, and wastage of already grown crops before the pandemic have also impacted the agriculture industry. The market will witness "W" shape recovery in near future owing to the restart of key industries in major economies.
Segmental Outlook
The market is segmented based on capacity, product type, power source, and application. Based on the type segment, the market is segmented into a low-pressure sprayer and a high-pressure sprayer. Based on the product type, the market is segmented into the hand-held sprayer, backpack sprayer, aerial sprayer, foot sprayer, tractor-mounted sprayer, and traction pneumatic sprayer. Based on the power source segment, the market is classified into electric sprayers, manual sprayers, solar sprayers, and fuel-based sprayers. Among these, the fuel-based sprayer is the fastest-growing segment due to its features such as a strong engine, capacity to cover large farm areas, and reduced human effort. In addition to this, based on the application segment, the market is segmented into field sprayer, orchard sprayer, and gardening sprayer.
Global Agriculture Sprayer Market Share by Power Source, 2020 (%)
Global Agriculture Sprayer Market Share by Power Source
Fuel-Based Sprayer Segment to Hold a significant Share in the Global Agriculture Sprayer market
Amongst the power source segment of the global agriculture sprayer market, the fuel-based sprayer held the largest shares in 2020. The factors that drive the growth of fuel-based sprayers include their capacity to cover large farms due to their strong engine and reduced human efforts. However, higher costs associated with the same, and environmental pollution are some of the restraints which can hamper the growth of this market. There will be a huge focus on electric sprayers in the forecast period due to their low cost and more advantage. Solar sprayers are estimated to be the costliest ones in the regions such as North America and Europe where the cost per watt is eventually much higher concerning the Asia-Pacific countries.
Regional Outlooks
The global agriculture sprayer market is analyzed based on the geographical regions that are contributing significantly towards the growth of the market. Based on the geography, the market is segmented into North America, Europe, Asia-Pacific, and the Rest of the World. The Asia-Pacific is estimated to have one of the largest shares in the market. The large availability of agricultural land in the countries like India and China, and supportive government schemes such as getting loans from the banks are some of the factors that drive the growth of the market in this region. For instance, under the Pradhan Mantri Kisan Samman Nidhi (PM-KISAN) scheme launched in December 2018, the Centre provides Rs 6,000 per year in three equal installments which assists even low farmers to invest. North America and Europe are also estimated to have a considerable growth in the agriculture sprayer market owing to a rise in demand for the improvement of the crop.
Global Agriculture Sprayer Market, by Region 2021-2027
Global Agriculture Sprayer Market, by Region
Market Player Outlook
Key players of the global agriculture sprayer market are CNH Industrial N.V., Mahindra & Mahindra Ltd., AGCO Corp., Excel Industries Ltd., Buhler Industries Inc., H.D. Hudson Manufacturing Co., Yamaha Motor Corp., Deere, and Co., KUBOTA Corp. and Hardi International A/S, among others. These key manufacturers are adopting various strategies such as new product launches and approvals, mergers and acquisitions, partnerships and collaborations, and many others to thrive in a competitive environment. For instance, in January 2021, CNH Industrial completed the acquisition of four divisions of CEG in South Africa which will enable the company to consolidate the distribution of Case IH Agriculture in South Africa. Moreover, in January 2018, Mahindra & Mahindra Ltd. announced the acquisition of a 26.0% stake in Omnivore-backed M.I.T.R.A which supports both the companies to designs and manufactures proprietary sprayers for horticulture crops and further enhance their market growth.
The Report Covers
Market value data analysis of 2020 and forecast to 2027.
Annualized market revenues ($ million) for each market segment.
Country-wise analysis of major geographical regions.
Key companies operating in the global agriculture sprayer market based on the availability of data, information related to new product launches, and relevant news is also available in the report.
Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
Analysis of market entry and market expansion strategies.
Competitive strategies by identifying 'who-stands-where in the market.