Sprayer Market Size to Reach Revenues of USD 6.7 Billion by 2025 - Arizton

Sprayer Market Size to Reach Revenues of USD 6.7 Billion by 2025 - Arizton

PR Newswire

CHICAGO, Feb. 2, 2021

CHICAGO, Feb. 2, 2021 /PRNewswire/ -- In-depth analysis and data-driven insights on the impact of COVID-19 included in this global sprayer market report.

Arizton Advisory & intelligence

The global sprayer market is expected to grow at a CAGR of 4.6% during the period 2019−2025.

 

Key Highlights Offered in the Report:  

  1. The global sprayer market would realize an absolute growth of over 31% between 2019 to 2025 with incremental revenue growth of USD 1.6 billion.
  2. Rising demand for advanced technology farming equipment to increase crop yield is driving the market for electric sprayer which is expected to grow at a CAGR of over 4% in terms of revenue with incremental growth of around USD 438 million during forecast period.
  3. Registering a high growth CAGR of approximately 5% in terms of unit shipment between 2019-2025, the global market for trailed sprayer is expected to witness incremental growth of 153 thousand units during forecast period.
  4. Growing demand for food grains owing to rise in population across the world is driving the market for field sprayers used for agriculture crops at a CAGR of around 4% in terms of revenue during forecast period.
  5. Europe contributes majority share in global sprayer market with 43% in 2019 and is likely to grow at a CAGR of around 4% during forecast period in terms of revenue.

Key Offerings:

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Sprayer Market – Segmentation

Sprayer Market by Product

Sprayer Market by Application

Sprayer Market by Fuel Type

Sprayer Market by Distribution Channel 

Sprayer Market – Dynamics

The market for agriculture sprayer has doubled in the past five years. One of the major reasons for the rise in sprayer ownership is that many farmers in recent years have increased their land area for farming, which gives them a real cost-per-acre advantage, thereby increasing the need for sprayers. Managing farms require capital, land and human resources, technological applications, and social and political arrangements. Modern equipment and machinery and the level of education and training available to farmers ensure better management of farms with increased productivity. Corp rotation, seasonal oil change, field scouting, and water drainage systems are some of the well-known methods to increase crop yield. Methods to control diseases, insects and weeds, and efficient use of irrigation and fertilizers are crucial factors for increasing productivity. These rising concerns have propelled the demand for sprayers in the farming industry.

Key Drivers and Trends fueling Market Growth:

Sprayer Market – Geography

The US government is offering farming equipment loans at flexible interest rates and repayment schedules. This is helping small scale farmers to purchase farming equipment, including sprayers. For instance, the US government has extended loans for agriculture equipment, USDA microloans, guaranteed operating loans, and direct operating loans. In 2018, the farm bills authorized an amendment to increase loan limits, encouraging farmers to buy technologically advanced sprayers on credit. Canada also has subsidies on high priced farming equipment. Drone sprayers are used for both commercial and agriculture applications in the US. However, the adoption rate is less in Canada. With the increasing number of orchards in the country, Canada has huge potential for the drone sprayer market. Agriculturists consider drones to be cost effective and an agronomically sensible tool for agricultural activities.

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Sprayer Market by Geography

Major Vendors

Other Prominent Vendors

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About Arizton:

Arizton Advisory and Intelligence is an innovation and quality-driven firm, which offers cutting-edge research solutions to clients across the world. We excel in providing comprehensive market intelligence reports and advisory and consulting services.

We offer comprehensive market research reports on industries such as consumer goods & retail technology, automotive and mobility, smart tech, healthcare, and life sciences, industrial machinery, chemicals and materials, IT and media, logistics and packaging. These reports contain detailed industry analysis, market size, share, growth drivers, and trend forecasts.

Arizton comprises a team of exuberant and well-experienced analysts who have mastered in generating incisive reports. Our specialist analysts possess exemplary skills in market research. We train our team in advanced research practices, techniques, and ethics to outperform in fabricating impregnable research reports.

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