The global COVID-19 pandemic has turned several industries upside down by causing disruptions in their daily operations and limiting the supply of raw materials, hampering production and growth.
The market study done by Fact.MR gives exclusive information about how the market will grow. The study identifies crucial trends that are determining the growth of Agricultural Sprayers market. This newly published report sheds light on vital dynamics, such as the drivers, restraints, and opportunities for key market players as well as emerging players associated with the production and supply. The latest report by Fact.MR provides detailed Market Analysis of Agricultural Sprayers
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This newly published and insightful report sheds light on Market Insights of Agricultural Sprayers, key dynamics, their impact on the overall value chain from suppliers to end-users and Growth of Agricultural Sprayers Market.
A recent study published by Fact.MR estimates the agricultural sprayer sales to surpass 3 million units by 2020. The study finds that technological transformations and digitization of the agriculture industry, along with demand for new tools and production methods, will remain key to growth of the agricultural sprayers industry.
According to the study, leading manufacturers are adopting cognitive technologies to meet growing end-user requirements for more efficient, productive, and precise agricultural machines. More than 75 million IoT-integrated agricultural equipment & machinery will be sold by 2020, according to the World Government Summit. The shift in end-user preferences for modern farming techniques and equipment has led to an upsurge in the sales of next-generation agricultural machineries, in turn influencing growth of the agricultural sprayers market.
The global agricultural sprayers market was valued at around US$ 1.8 Bn in 2020, which amounts to close to 1.6% share of the overall agricultural equipment market. Sales of agricultural sprayers are projected to accelerate at a healthy CAGR of 6% to top US$ 3.2 Bn by 2031.
Demand for battery-operated agricultural sprayers is set to increase steadily at a CAGR of 4% across the assessment period of 2021 to 2031. Latest trends of agricultural sprayers and technological advancements in agricultural sprayers will pave the way for increased opportunities for market layers over the next ten years.
| Agricultural Sprayers Market Size (2020) | US$ 1.8 Bn |
| Sales Forecast for Agricultural Sprayers (2031) | US$ 3.2 Bn |
| Global Market Growth Rate (2021 to 2031) | 6% CAGR |
| Market Share of Top 5 Agricultural Sprayer Manufacturers | 40% |
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Major corporations are acquiring sprayer companies, which is projected to result in market consolidation.
“Rising adoption of precision farming techniques and various technologies such as drones and self-driving sprayers is creating significant and appealing potential for agriculture sprayer suppliers to flourish,” says a Fact.MR analyst.
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More Valuable Insights on Agricultural Sprayers Market
Fact.MR, in its new report, offers an unbiased Market Analysis of Agricultural Sprayers, Sales and Demand of Agricultural Sprayers, analyzing forecast statistics through 2019 and beyond. The study reveals growth projections on the basis of various criteria.
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