Agricultural Sprayers Market Size, Share, Industry, Forecast and outlook (2024-2031)

Global Agricultural Sprayers Market is segmented By Type (Handheld, Self-Propelled, Tractor-Mounted, Trailed, Aerial), By Energy Source (Fuel-Based, Electric & Battery-Driven, Manual Handling, Solar), By Capacity (Ultra-Low Volume, Low Volume, High Volume), By Technology (Hydraulic Nozzle Spray Technology, Air-Assisted Electrostatic Spray Technology, Variable Rate Technology (VRT), Others), and By Region (North America, South America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2024-2031

Agricultural Sprayers Market Overview

The global agricultural sprayers market is forecasted to reach at a CAGR of 6% during the forecast period (2024-2031). Agricultural sprayers are the equipment used for applying substances to plants to improve crop quality. These substances could be herbicides, pesticides or fertilizers and are widely used in agriculture and farming sectors. Asia Pacific is expected to dominate the global agricultural sprayers market. Competitive rivalry intensifies Exel Industries, Deere & Company, H.D. Hudson Manufacturing Company and others operating in the market.

Rising awareness and shifting preference towards modern techniques for suitability and safety, increasing demand for self-propelled sprayers, growing production of crops, rising adoption of tractors are some of the factors that will likely enhance the growth of the agricultural sprayers market in the forecast period of 2024-2031. On the other hand, escalating production of cereals & grains will further create new opportunities for the agricultural sprayers market in the above-mentioned period.

Agricultural Sprayers Market Summary

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Agricultural Sprayers Market Dynamics

Technological developments in spraying equipment

The advancements in technology have greatly affected the agricultural sector. Technology penetration in agriculture has eased the life of farmers and has indirectly increased their capital profit. Moreover, the awareness towards precision farming and increasing use of hi-tech agricultural equipment’s has boosted the growth of technically advanced agricultural sprayers in the agriculture sector. Moreover, various technologies such as drones and driverless sprayers, are providing important and attractive opportunities. Positioning technologies, such as combining GPS (global positioning system) and GIS (geographic information systems) have made yield mapping very easy and help farmers work in the field even under adverse weather conditions, such as fog, dust and rain.

To meet the increasing demand for technology, some companies have greatly indulged in constantly updating their technology. For instance, companies like ASPEE and GUSS, are involved in investing heavily in R&D to launch more advanced products. For instance, in 2018, Mahindra Tractors launched Grapemaster Bullet++. Grapemaster Bullet ++ is a tractor-mounted sprayer for Vineyards that gives the best performance with 17.9 kW (24 HP) and above tractors. The high initial investment, however, is the main restraining factor for this market. High initial investments, efficient farming tools, and skilled & knowledgeable farmers or growers are required for self-propelled and aerial sprayer types.

COVID-19 Impact on Agricultural Sprayers Market

Decrease in sales of key players due to supply chain disruption

The spread of COVID-19 across the globe has contributed to supply chain disturbances across agricultural ecosystems, including the demand for agricultural sprayers. In the realistic scenario, it has been assumed that all 4 quarters of the financial year 2020 will see negative growth. Some recovery is expected by the first quarter of 2021, and the market might start picking momentum by the end of 2021. In this scenario, it has been assumed that COVID-19 will have a minimum impact from the first quarter of 2021.

Major agricultural OEMs such as AGCO Corporation have reduced their sales guidance for the first half of FY 2020 by 10 to 20%, mainly due to disruptions in the supply chain. Most of the manufacturing facilities of these companies are operating below their standard capacity, which is expected to impact their sales negatively in the short- to medium-term. AGCO has stated that the net sales for the second quarter were approximately $2.0 billion, a decrease of approximately 17.2% compared to the second quarter of 2019. Net sales for the first six months of 2020 were approximately $3.9 billion, a decrease of approximately 10.9% compared to the same period in 2019.

Agricultural Sprayers Market Segmentation Analysis

The fuel-based segment is predicted to hold a prominent share in the global market of agricultural sprayers

The global agricultural sprayers market has been segmented by energy source into fuel-based, electric & battery-driven, manual handling and solar. The fuel-based segment is expected to hold the highest market share in the year 2020. The fuel-based crop sprayers run by the use of conventional fuel such as diesel, gasoline, and petrol. The sprayer consists of an integrated or external spray tank, a high-pressure piston pump usually powered by a petrol engine, a pressure regulating valve and a hose. However, the fuel-based crop sprayers require expensive fuel and exhaust carbon dioxide as a pollutant that is harmful to the environment which might hamper the growth of the segment.

Based on capacity, the market has been segmented into ultra-low-volume, low-volume, and high-volume. Among these, the high-volume sprayers led the global agricultural sprayers market in 2020 and are further expected to dominate during the forecast period. High volume sprayers usually spray solutions, prepared by mixing water with appropriate quantities of pesticides. This diluted mixture is sprayed by using hydraulic nozzles. The volume of liquid handled by high volume sprayers is more than 400 litres per hectare.

Agricultural Sprayers Market Geographical Share

Asia Pacific is the largest market for agricultural sprayers with a share of nearly XX% in 2020

By geography, Asia Pacific is expected to dominate the global agricultural sprayers market in the year 2019, growing with a CAGR of xx% during the forecast period. Asia-Pacific dominates the agricultural sprayers market due to growing agricultural practices owing to major occupation and rising import & export scenarios in the region. India is projected to be the fastest-growing market in the region. The adoption rate of agricultural equipment in India is developing considerably.

It is one of the top producers of cereals such as sorghum and pearl millet. The country ranks second in terms of agricultural production in the world. According to the World Bank, the total agricultural land in India was around 60.45% in 2019. GDP from agriculture in India averaged 4239.66 INR Billion from 2011 until 2020, reaching an all-time high of 6098.83 INR Billion in the fourth quarter of 2019.

Agricultural Sprayers Market Companies and Competitive Landscape

The global agricultural sprayers market is highly fragmented. Some of the key players in the market include Significant companies that are expanding their networks by way of extending access to their products to a greater number of dealers. The other players in the market studied include local players that focus on the small-scale and medium-scale farmers, as compared to large-scale farmers, and cater to most of their farm equipment requirements accordingly. Some of the key players in the market include Exel Industries, Deere & Company, H.D. Hudson Manufacturing Company, AGCO Corporation and Mahindra and Mahindra Ltd among others.

In July 2018, Deere & Company has signed a definitive agreement to acquire PLA, a privately-held manufacturer of sprayers, planters, and speciality products for agriculture. PLA is based in Argentina, with manufacturing facilities in Las Rosas, Argentina, and Canoas, Brazil. In May 2019, John Deere expanded the top end of its 4-Series Sprayers with the introduction of its biggest sprayer yet – the 1,600-gallon (6057 litres) capacity R4060 Sprayer with the new CommandDrive powertrain. In addition, the existing R4045 Sprayer will come standard with CommandDrive beginning with Model Year 2020.