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.
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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 study opines that advancements in the battery technology, and its integration into the agricultural sprayers, will boost sales of battery-operated agricultural sprayers. Battery-operated agricultural sprayers are estimated to exceed 1.7 million units in 2020. Readers can find a complete assessment on salient factors instrumental in shaping the future of agricultural sprayers market in this study.
The Fact.MR study estimates sales of agricultural sprayers in APEJ to close in on 1.3 million units by 2020. As the agriculture sector significantly contributes to the GDP of Asian countries, prospects remain bullish for sales of high-tech farming machineries in the region. APEJ is expected to account for over 43% of the global agricultural sprayers sales by 2020.
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According to the study, gains from agricultural sprayer sales in China and India will remain promising, with key developmental programs taken by the governments in these countries that drives demand for agricultural machineries to improve productivity. Governing organizations in these countries are also offering subsidies and loans to farmers, encouraging the adoption of modern farming practices that involves advanced equipment and machinery. The agricultural sprayers market in APEJ will benefit from favorable government policies that prompt the shift from traditional, labor-intensive farming practices to a more mechanized approach.
Leading players in the agricultural sprayers market are vying for opportunities in APEJ, to capitalize on increased demand. As products of the local manufacturers in the region are incompetent to those of their international competitors in terms of technology and specialization, opportunities remain robust for the latter in APEJ. Additionally, leading companies in the agricultural sprayers market are focusing on strategic partnership with local manufacturers, to meet the burgeoning demand for customized, sustainable, and technologically advanced agricultural sprayers.
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