About the Agriculture Sprayer Market
The global agriculture sprayer market is largely dependent on agricultural land and farm output. Agricultural production is a major factor that affects the market. Global agricultural production grows in tandem with demand. However, production worldwide has slowed down in the recent years as demand for agricultural products has reduced. Environmental changes are also affecting agricultural production significantly. The global population growth rate is slowing down (2.20% in 1963 to 1.13% in 2015), which is expected to lead to a decline in agricultural production.
Technavio’s analysts forecast the global agriculture sprayer market to grow at a CAGR of 5.24% during the period 2016-2020.
Covered in this report
The report covers the present scenario and the growth prospects of the global agriculture sprayer market for 2016-2020. The revenue generated from the global agricultural machinery market is calculated through the overall revenue generated by the following segments of the market:
Technavio Announces the Publication of its Research Report – Global Agriculture Sprayer Market 2016-2020
Technavio recognizes the following companies as the key players in the global agriculture sprayer market: AGCO, Case IH, Deere & Company, and STIHL.
Other Prominent Vendors in the market are: Ag Spray Equipment, Buhler Industries, CNH Industrial, Demco, Equipment Technologies, Great Plains Manufacturing, Hardi International, Indo-German Agricultural Sprayer & Pressing Works, Labdhi International, and Taizhou City Jiaojiang Jiangnan Agriculture Machinery Factory.
Commenting on the report, an analyst from Technavio’s team said: “A trend which will help boost market growth is an increase in self-propelled sprayers. The trend toward less tillage to prevent soil degradation has brought about advances in farm chemicals, especially herbicides. This has augmented the demand for self-propelled crop sprayers that can be used for both pre-and post-plant treatments. While traditional pull-type sprayers are still being used, self-propelled units are becoming more popular as they allow more control over application time and cause less crop damage. Higher farm profits have also driven investments in self-propelled sprayers.”
According to the report, a key growth driver is the demand from emerging countries. Emerging countries are witnessing extensive mechanization in the agriculture sector. Growing interest among customers to increase productivity has increased the penetration of sprayers in India, China, Russia, and Brazil. These countries upgrade and modernize their farming processes to increase farm income, boost economic growth, and meet the growing demand for crops and products.
Further, the report states that one challenge that could restrict market growth is the reduction in commodity prices. Commodity prices saw considerable fluctuations in the past decade.
AGCO, Case IH, Deere & Company, STIHL, Ag Spray Equipment, Buhler Industries, CNH Industrial, Demco, Equipment Technologies, Great Plains Manufacturing, Hardi International, Indo-German Agricultural Sprayer & Pressing Works, Labdhi International, Taizhou City Jiaojiang Jiangnan Agriculture Machinery Factory.