Utility

MEA utility terrain vehicles market to witness modest growth from military applications

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Rising technological advancements and launch of robust, high-performance vehicle segments are anticipated to boost the MEA utility terrain vehicle market size. UTVs are powerful off-road vehicles that are designed to perform more challenging task and carry heavier loads compares to ATVs. They come with safety features like roll cages, seat beats and windshields that helps protect passengers from roll overs or potential accidents.

Saudi Arabia Utility Terrain Vehicles Market, By Application, 2018 & 2025, (USD Million)

MEA Utility Terrain Vehicles Industry Size, By Country, 2025, (USD Million)

These features become extremely important in applications like wildlife management, material handling, hunting, racing and more. The vehicle also comes with adequate storage space, offering users extra space to place items like tools, fuel cans, etc.

Rising spending in off-road trailing activities will drive the MEA UTV market share. Moreover, launch of high-performance UTVs will supplement industry growth. For instance, in 2019, Honda extended its Talon portfolio of side-by side, high-performance UTVs with two new four-seater segments.

South Africa utility terrain vehicle market will witness steady growth owing to multiple applications of UTV in forestry, landscaping and agriculture activities. Indeed, the agriculture sector of Africa is showing commendable progression owing to increased productivity and rural incomes. The growth can undeniably be attributed to adoption of improved agricultural technologies and use of vehicles like UTV.

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The UTV’s smaller sizes and versatility allow farmers to easily travel across large farmlands and undertake a wide variety of tasks. Notably, a UTV assists in carrying out task like quickly and easily transporting supplies across farm, plowing and harrowing fields, mowing grass, building fences, spreading seeds, managing cattle, carrying firewood and more.

With new UTV models being made specifically for farm operations, the South Africa UTV market would witness significant growth over the coming years. Prominent companies have been launching new UTVs in the region, replete with enhanced features like upgraded suspension and higher towing capacity. The region also boasts of the presence of quad biking facilities such as Induna Adventures, Soweto Outdoor Adventures, Clarens Xtreme, Kagga Kamma, and Segwati Quad Trails, that will positively boost the regional utility terrain vehicles industry share.

The MEA utility terrain vehicle market will garner commendable gains from military applications. UTVs are modular design vehicles that effectively meet the demands of military and international special forces. These lightweight tactical vehicles come in two or four seat variants which are fast and favor agility and durability.

Rapid deployment of innovative military UTVs that offer improved transportability and multi mission capabilities will augment industry size. Moreover, increasing military spending will offer new growth opportunities, enhancing MEA UTV business outlook.

For instance, Polaris has unveiled its MRZR® D4 ultra-light tactical off-road vehicle which delivers mobility, mission versatility, air-transportability, and durability along with 4 seat arrangements to transport personnel and mission-critical gear over extreme terrain more quickly and effectively.

Saudi Arabia market holds a significant share in the MEA utility terrain vehicles industry owing to rising application in recreational activities and racing events in the region. Several UTV championships are organized in Saudi Arabia under the General Entertainment Authority (GEA) which has attracted sports enthusiasts across the globe.

Saudi Arabia recently announced plans to host Rally Dakar, one of the world’s biggest and most challenging rally race, in January 2020 targeted for 4 different categories including UTV, cars, trucks and bikes. Increasing government funding and supportive initiatives targeted towards enhancement of recreational infrastructure will also support the UTV market share over the forecast timeframe.

UTV is a motorized vehicle designed to carry out a specific task in off road conditions with more efficacy than a normal passenger vehicle. Growing consumer spending and launch of improved vehicle portfolios will drive industry growth. Reports from Global Market Insights, Inc., estimates MEA utility terrain vehicles market to exceed USD 465 million by 2025.

Author Name : Mateen Dalal

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UTV market to accumulate hefty proceeds from utility applications, U.S. to emerge as a pivotal revenue pocket over 2019-2025

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The exponential growth map of the global UTV market can be aptly credited to the rising preference for a UTV in numerous in utility activities. In an effort to diversify their product offering, major UTV manufacturers are lately focusing on developing vehicles that can address different requirements from a varied array of application segments, including agriculture, construction & forestry, which serve to further propel the UTV market growth over the forthcoming years. Moreover, to keep these vehicles relevant for a particular application, industry players are also introducing new accessories, machines & attachments, which makes these already popular vehicles a must-have tool, thereby ensuring sustained growth for the UTV market.

U.S. Utility Terrain Vehicles (UTV) Market, By Application, 2018 & 2025, (USD Million)
U.S. Utility Terrain Vehicles (UTV) Market, By Application, 2018 & 2025, (USD Million)

It is prudent to mention that the industry is also receiving momentum from the improving global economic conditions leading to increasing disposal incomes, that has resulted in the popularity of UTVs growing exponentially for recreational activities, such as fishing, hunting & off-roading.

Global UTV market | Impact of USA’s expanding outdoor recreation market

The United States’ outdoor recreation market is known to be one of the nation’s largest economic sectors. The sector represents a sizable economic growth avenue that supports thousands of communities in America by facilitating millions of job opportunities for workers. The industry is largely supported by the nation’s bountiful waters, inspiring landscapes and iconic natural beauty. Thus, investments in this sector on public waters & lands are capable of earning compounding returns, promoting healthier economies, communities & people. According to the Outdoor Industry Association, the U.S. outdoor recreation industry annually generates over $887 billion in consumer spending that supports more than 7.6 million jobs and rakes in over $124.5 billion in federal, state & local taxes, making it one of the nation’s most lucrative investment ground.

It goes without saying that the UTV market accounts for a sizable chunk of this thriving industry. Unlike other off-road vehicles recreational UTVs are a unique blend of comfort & power, wherein the vehicle operator can perform any of the off-road activities with considerably more comfort. Moreover, UTVs also boast of larger cabin spaces that allow for greater number of passengers and also come with superior safety features such as roll-cages & bucket seats, giving these vehicles an edge over other off-roaders & further supporting market growth by eliminating the customer hesitancy factor in terms of vehicle safety.

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Global UTV market | Impact of increasing UTV adoption in agricultural activities

Traditionally ATVs were used to carry out a majority of agricultural activities, ranging from hauling fertilizer, wire & lumber, however, these practices were quite inefficient in terms of getting work done & lessening physical effort as the vehicle’s small size limited its load bearing & hauling capacity and the lack of power steering made the task very strenuous for the vehicle operator, defeating the purpose of using the vehicle in the first place. These limitations have started to drive individual farmers & other agricultural corporations away from ATVs, and most of them now prefer to invest in well-equipped UTVs, further propelling UTV adoption across the utility landscape in recent years.

Apart from offering these benefits, the UTVs also comfortably sit between a basic quadbikes (ATV) and a fully-fledged tractors or pickup trucks, thus, providing the UTV market with ample growth opportunities from agriculture, without having to compete with others for the position. Moreover, unlike their bigger as well as smaller counterparts, the UTVs, owing to the diverse array of accessories & additional attachments available in the market, can perform different activities ranging from transporting supplies and mowing grass to managing livestock and plowing the fields, ensuring their dominance across the field of agriculture. Thus, powered by their deployment in agriculture and landscaping activities, UTV industry size from the utility sector is slated to depict a CAGR of 6% over 2019-2025.

As is evident from the aforementioned trends, the global UTV market has clearly positioned itself in an extremely lucrative spot and is bound to exhibit sustained growth in the ensuing years. The growth prediction is further supported by a research report from Global Market Insights, Inc., which estimates that the global UTV market size would be surpassing the $9 billion renumeration mark by 2025.

Author NameAkshay Kedari

U.S. solar EPC market to gain commendable traction by 2025, global industry to be characterized by a rising number of rooftop installations

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The global shift towards clean, affordable and reliable electricity along with rising focus towards curbing CO2 emissions will drive solar EPC market growth in the upcoming years. Reportedly, solar PV is recorded to be one of the most installed power generation technologies across the globe in recent years, having been accountable for the deployment of extensive new capacity than fossil fuels and nuclear combined. As per SolarPower Europe, in 2017, a total of 99.1 GW of on-grid solar systems were installed across the globe – depicting almost 30% y-o-y growth over the 76.6 GW capacity in 2016, thereby indicating that solar EPC industry is here to stay.

Solar EPC Market Size, By Ground Mounted, 2018 & 2025 (USD Million)

Solar EPC Market Size, By Ground Mounted, 2018 & 2025 (USD Million)

In terms of installations, it would be apt to quote that roof-top installations are likely to depict maximum instatement, specially across the commercial and residential sectors in the years to come. Roof-top solar is increasingly cost-effective for business owners, homeowners and communities. Affordable technology prices, supportive financing and the growing network of solar companies and financers are anticipated to help reduce the prices for household roof-top systems in the U.S.

Customers generally prefer roof-top PVs as they don’t require a dedicated land area for installation and can efficiently occupy roof space that is widely available even in urban areas. Apparently, India’s National Solar Mission shares similar goals on using roof-top PVs, as it officially announced plans to install 100 GW of solar by 2022, of which 40 GW would be credited to rooftop solar. In essence, the integration of decentralized generation units in order to cater to the growing demand for energy will massively augment solar EPC market from roof-top installations over 2019-2025.

Large-scale utility installation will positively influence the global solar EPC market. The utility sector, that mainly deploys ground-mounted solar power systems, is touted to have been recorded as one of the most lucrative end-use sectors for the solar EPC market in 2018. With the escalating growth in smart cities and electric vehicles reaching the masses, there is increasing pressure on the utility sector for delivering sustainable energy to manufacturing industries and customers. Rising focus toward curbing CO2 emissions from large industries and power generating plants in tandem with favorable fiscal benefits on the grounds of the development of energy efficient solar systems will further augment solar EPC industry size from utility applications.

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Geographically, speaking the United States is touted to emerge as one of the most prominent regional markets for the solar EPC industry. As per estimates, the U.S. solar EPC market is projected to exceed $14 billion by 2025, driven by the fact that solar power has proven to be a strong driver of the region’s economic growth. Reportedly, in 2014, the U.S. solar industry employed over 170,000 people, offering a job growth rate that positively influenced the overall economy.

Regulatory measures to reduce dependence on conventional fossil fuels coupled with financial funding to integrate renewable energy will also stimulate product penetration. In addition to offering new jobs, the U.S. government, in 2017, proposed plans to decrease in their tax reforms by reducing corporate taxes in a bid to boost the clean energy business potential, that would further stimulate the U.S. solar EPC market growth.

Another region that has gained traction in solar EPC market is the Asia Pacific, on account of the rising investments in the renewable sector backed by favorable government initiatives. Investment subsidies, positive regulatory programs, renewable integration targets and government reforms have certainly reinforced the APAC solar EPC industry in recent years.

For instance, recently India’s Cabinet Committee on Economic Affairs (CCEA) approved a proposal to set up 12 GW of solar projects using locally-made equipment by 2023, an initiative the will certainly boost the region’s economic growth, in turn, paving the way for the expansion of APAC solar EPC industry.

A vital form of contracting procedure, solar EPC is extensively used to provide end-to-end services associated with construction, design, procurement and commissioning. Powered by the growing demand by emerging countries for clean, sustainable electricity and the robust efforts by industry players to develop new high-efficient systems, the global solar PV market is expected to emerge as one of the most remunerative verticals of the overall energy sphere.

Author NameMateen Dalal

U.S. off-road vehicles market to accumulate sizable returns from Arizona, industry valuation to cross USD 13.5 billion by 2024

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The U.S. off-road vehicles (ORVs) market size, in recent times, has been the recipient of sizable gains, owing to the proliferation of outdoor activities in conjunction with the improving economic condition. ORVs are becoming increasingly popular especially among the youth across the U.S., as is obvious from the rising sales of SUVs, off-road dirt bikes & motorcycles, all-terrain vehicles (ATVs) and snowmobiles.

Arizona Off-Road Vehicles Market, By Vehicle, 2017 & 2024, (USD Million)

Arizona Off-Road Vehicles Market, By Vehicle, 2017 & 2024, (USD Million)

The mounting interest in off-road adventure activities is rather overt from the progress that the ATV industry has registered in the last few years. In 2017, the ATV Safety Institute (ASI) claimed that close to 35 million Americans use ATVs in the U.S., which would prove to majorly impel the U.S. off-road vehicles market size. ATV are bound to be used extensively in the agricultural sector for several tasks performed on farms and ranches such as general transportation, animal handling, weed control and fence mending.

The agricultural sector even now, remains one of the largest occupational arenas in the U.S. As per reliable estimates, 78% of ATVs are used for recreational purposes while 22% are used in occupational settings. In addition, the versatility of ATVs has also resulted in their use in small scale construction, manufacturing, search and rescue operations, police, utilities, mining and land management. The utility, affordability and ease of use associated with these vehicles has led to their massive adoption by the agricultural community, in turn facilitating the growth of U.S. off-road vehicles industry from ATVs.

It is vital to mention that the U.S. off-road vehicles industry has received massive support from the regional regulatory landscape. Organizations like the ATV Safety Institute have been training the youth and providing education regarding safety gears. The surging adoption of safety gears will also lead to the U.S. off-road vehicles market gaining substantial momentum in the years ahead. Even the Texas legal framework permits under-14s to drive ATVs under supervision. The enforcement of norms to enhance driver and passenger safety will boost the demand for ATVs, majorly propelling U.S. off-road vehicles market size from ATVs.

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Regionally speaking, California, Texas, and Arizona stand as the chief revenue pockets for the U.S. off-road vehicles industry. According to Global Market Insights, Inc., in 2017, California held around 10% of the U.S. off-road vehicles market share owing to the presence of several state parks and recreational areas for driving. Organizations such as California Department of Parks and Recreation’s Off-Highway Motor Vehicle Recreation Division (OHMVR) are also introducing Grants & Cooperative Agreements Program to encourage OHV adoption.

Arizona is also anticipated to witness steady growth in the ensuing years, essentially on account of the favorable regulations enforced in the region that now permits the usage of California-registered vehicles in its state parks. Indeed, Arizona, boasting of 365 riding days per year, is likely to emerge as one of hotspots for the expansion of the U.S. off-road vehicles market. The state is home to some of most iconic road trails that attract tourists across the globe, namely, the Harquahala Mountain Byway, Backway to Crown King, Broken Arrow Trail, and Cinder Hills OHV Area, every one of which boasts of being a popular off-roading community. As the popularity of these trails in addition to the many hundreds of trails that the state houses, increases by the day, U.S. off-road vehicles market players are likely to target Arizona as their potential investment hub.

Capable of driving effectively on paved or gravel surfaces, off-road vehicles have increasingly become popular owing to their versatility. The use of such high traction, higher clearance vehicles enables users to access trails and forest roads that define a rough terrain. Aided by a supportive regulatory framework and the robust demand across a slew of end-use domains, U.S. off-road vehicles market will depict a commendable growth graph ahead.

Author NameMateen Dalal

Power optimizer market to accumulate modest proceeds from residential applications, surging advancements in product design & manufacturing to augment the industry expansion over 2019-2025

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Pertaining to the growing adoption of renewable energy in tandem with stringent regulations to curb CO2 emissions, the global power optimizer market is likely to traverse alongside a highly remunerative growth graph in the years ahead. Essentially a module-level power electronic (MLPE) device that can efficiently increase a PV solar panel system’s energy output and adjust DC characteristics to maximize energy yield, the product has become a technologically essential component in many residential, commercial and utility-scale solar system designs.

Europe Power Optimizer Market Size, By End Use, 2018 & 2025 (USD Million)

Europe Power Optimizer Market Size, By End Use, 2018 & 2025 (USD Million)

By utilizing modules that are integrated with power optimizers, system designers can now reduce the overall power loss from interrupting shade obstructions, thus protecting the systems from long-term module mismatch owing to uneven soiling or debris. Several PV module OEMs are also incorporating this next generation DC performance optimization technique to gain an edge in the power optimizer industry, further pushing the market trends.

Power optimizers are increasingly emerging as an ideal substitute for module level power monitoring & management, enhancing the benefits of MPPT with higher operational efficiencies of string inverters. Furthermore, the product’s ability to offer constant, uninterrupted output in a partially shaded environment is anticipated to facilitate its adoption sooner than ever. Indeed, shade on any part of a PV solar panel affects a system’s total output performance. However, with the capability of power optimizers to mitigate the shading losses, users are benefitted with stable output power, irrespective of changing sun exposure. This would serve to majorly expedite the demand for the product across countries such as China, Russia and Iceland, impelling the global power optimizer industry trends.

The residential construction sector has been touted to emerge as an invaluable growth hub for power optimizer market. This can aptly be credited to the escalating number of schemes mandated by regional governments – such as incremental energy efficiency grants to support residential roof-top installations. The product has also gained traction in power optimizer industry on account of the rising influx of new, flexible module designs. Say for example in 2018, GreenBrilliance USA, a solar solution provider launched an AI-based solar power optimizer for residential homes called Neurobotz. As per reports, the system’s predictive analytics algorithm generated an optimal load curve and could effectively control the incoming power flow to significantly reduce the amount of electricity consumed in residential zones.

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Advancements such as the aforementioned are anticipated to pave the way for next-gen solar energy systems, thereby impelling power optimizer market growth. Driven by the robust technological advancements in product design and development and the advantages provided by government subsidies, power optimizer market size from residential applications has been estimated to cross annual installations of more than 10 million units by 2025.

Apart from GreenBrilliance, some of the other pivotal players in power optimizer market include SolarEdge, SMA Solar, Altenergy, Ampt, Tigo, Huawei, Kuby Renewable Energy, igrenEnergi, Maxim Integrated, Darfon Electronics, Texas Instruments, Alencon, ABB, Mornsun, Xandex, Ferroamp and Fronious. Companies have been consistently investing in R&D programs and have been looking out to tap the latest technologies to gain an edge in the industry. Last year in September for example, Panasonic Eco Solutions and SolarEdge Technologies launched the HIT S Series Module – an all-new premium smart module, optimized by SolarEdge, for the U.S. residential market. Reportedly, the  module is indicative of the integration of the leading solar technology from both Panasonic and SolarEdge in order to accelerate solar module installation and ensure more power delivery to homeowners.

Power optimizers are irrefutably essential in almost all PV panel systems to attain ensure stable performance, particularly in partially shaded environments. Powered by the product’s robust deployment across the residential, commercial and utility-scale solar designs and escalating technological advancements, power optimizer market size is likely to cross 30 million units in terms of annual installations by 2025.

Author Name :Mateen Dalal

How will thermal energy storage market penetrate the global landscape, ‘green economy’ vision to fuel the worldwide demand

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With the rising acceptance of renewable energy sources as a means to derive power, thermal energy storage market has emerged as one of the top-notch verticals of the sustainable ecosphere. The demand can also be cited to be driven by the reducing dependency on fossil fuels as an energy source, primarily due to their innumerable hazardous impacts on the environment. As per reliable reports, primary energy consumption is expected to rise by more than 45% by 2040. It is rather obvious that thermal energy storage which plays a balance between the growing energy demand and the need to address the environmental interruptions will constitute a major ratio of the sustainable energy mix.

Europe Thermal Energy Storage Market Size, 2013 – 2024 (USD Million)

Europe Thermal Energy Storage Market Size, 2013 - 2024 (USD Million)

Speaking of the widespread application portfolio, utility and electricity generation is one of the most lucrative end-use arenas for the thermal energy storage market. The technology has gained massive popularity via its adoption in CSP plants where solar heat is stored to generate electricity that can be used at night, providing relatively affordable, cleaner, and uninterrupted power supply.

It is prudent to mention that the residential and industrial sectors, where the technology is being widely utilized for cooling or heating applications as well as power generation, is yet another potential end-use avenue for the thermal energy storage industry. Reports from the International Renewable Energy Agency (IRENA) cite that, in Europe, around 1.4 million GWh/year of energy can be saved, and 400 million tons of CO2 emissions can be avoided, in residential and industrial sectors by extensively using heat and cold storage technologies, figures that identify the growth and profitability potential of thermal energy storage market over the coming years.

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The energy-saving potential by deployment of this technology is vivid globally, although the rate of penetration of thermal energy storage market varies with different geographies. A series of parameters including the demand ratio, regulatory mix, and infrastructure support are some of the vital parameters responsible for the change of dynamics related to thermal energy storage industry expansion across the regional spectrum.

Below is an outline of the thermal energy storage (TES) market trends with a regional frame of reference:

United States Thermal Energy Storage Market

With heavy R&D investments and high fuel costs, U.S. thermal energy storage market is estimated to register a lucrative growth chart over the coming years. In the year 2017, nearly 41.8MW of energy storage systems were installed across the region, which accounted for 46% of y-o-y growth. In addition, reportedly, 14 U.S. states have deployed around 2GW of energy storage into Integrated Resource Planning (IRP), highlighting the growing popularity of energy storage technology in the region. As per a report by Global Market Insights, U.S. thermal energy storage market share stood at USD 6 billion in 2017.

Europe Thermal Energy Storage Market

With heating and cooling using approximately half of Europe’s energy, the demand of thermal energy storage industry in the region is estimated to be substantially high over the coming years. As per European Association for the Storage of Energy, 50% of all final consumed energy in Europe is used to heat buildings or water. Out of this, 85% still comes from fossil fuels, hinting toward the potential opportunities which are yet unexplored in the region. Add to this, the regulatory landscape aggressively boosting the demand for renewable integration to attain the vision of a decarbonized economy will further provide a substantial impetus to Europe thermal energy storage market.

China Thermal Energy Storage Market

With the expanding infrastructure sector and rapid economic development, China is slated to be yet another profitable avenue for the thermal energy storage industry players. The region is actively investing in energy storage technologies with a vision to meet its energy as well as environmental sustainability demands. Reportedly in the first half of 2018, Henan, Qinghai, Jiangsu, and Guangdong provinces declared the construction of energy storage projects of varied capacities totaling 340.5 MW. In yet another instance, Suunpower, China’s CSP developer last year signed a partnership deal with Norway’s EnergyNest to deploy TES systems in China. The EnergyNest system would facilitate an affordable and eco friendly energy generation eliminating the hazardous impact of coal combustion on the environment.

In a nutshell, it is rather evident from the aforementioned facts and trends, that although the TES technology has penetrated appreciably at a global scale, its full potential is yet to be explored. A trend that is anticipated to change and characterize the dynamics of thermal energy storage market is the high technological developments and R&D investments focusing toward energy efficiency and environment sustainability. In terms of profitability matrix, analysts project the worldwide thermal energy storage industry to surpass a revenue of USD 55 billion by 2024.

Author NameMateen Dalal

Agricultural adjuvants market to witness hefty proceeds from herbicide applications, Asia Pacific to emerge as lucrative investment hub

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The exponential growth graph of agricultural adjuvants market can be undeniably credited to the fact that these products aid farmers across the globe in improving the overall performance of crop protection. The expansion of this industry not only signifies that the sales have been trending up in the past years, but also demonstrates that farmers are increasingly considering value in new cropping technologies. The growing demand for biodegradable agriculture adjuvants for controlling pests and unwanted weeds coupled with new herbicide cropping systems has undoubtedly sent the global agricultural adjuvants industry players into overdrive to further develop useful tools.

U.S. Agricultural Adjuvants Market Size, By Application, 2014 – 2025 (USD Million)
U.S. Agricultural Adjuvants Market Size, By Application, 2014 – 2025 (USD Million)

Recently for instance, Monsanto Company announced that it has joined forces with Adjuvants Unlimited, LLC., in a bid to design the first agricultural sprayer system cleaner developed to deactivate dicamba. According to the reports, this new sprayer cleaner technology is different from its counterparts as it is based on a chemical process that deactivates particular pesticide active ingredients such as dicamba. The manufacturers of crop protection technologies – Adjuvants Unlimited claimed that it will be bringing this technology to the agricultural adjuvants market in 2018 through its slew of industry partners. This collaboration provides substantial validation to the fact that the global agricultural adjuvants industry players are investing in R&D and product innovation given the rising interests of farmers in new tools to help them in managing unwanted pests.

Asia Pacific to be a major revenue contributor

With India, China, and Japan at it foray, the Asia Pacific belt has emerged as the one of the largest market for agricultural adjuvants in the world. The presence of top agricultural producing nations coupled with rising population and demand for food have been some of the pivotal drivers attributable to the rising demand for farming adjuvants. Apart from this, the region is also witnessing increasing awareness levels among the farming community pertaining to food safety, limited arable land, and uncertainties in climate, which has boosted the demand for more reliable and technologically advanced options for farmers. Estimates claim that the Asia Pacific agricultural adjuvants industry is forecast to grow at a heathy CAGR over 2018-2025.

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North America is emerging as another lucrative investment ground for the potential investors, given the rising demand for sustainable farming techniques which are proving effective from both agronomic & economic aspects. With the domestic players giving more emphasis on introducing environmentally friendly alternatives to the existing products, it goes without saying that the region will be witnessing massive growth opportunities in the coming years. As per reliable reports, the North America agricultural adjuvants industry currently stands as a valuable region for stakeholders and is further foreseen to exceed USD 800 million by 2025.

Herbicides to reign the application landscape over 2018-2025

Taking into account the application landscape, the global agricultural adjuvants market is segmented into insecticides herbicides, fungicides and others. In order to limit the growth of fungal infection and insects on the crops, fungicide and insecticides are forming the important segments of the application spectrum of agricultural adjuvants market with steady growth rates, however the herbicides segment is certainly deemed to be one of the largest revenue contributors.

The product is finding mandatory usage in farming to stop the growth of weed and other unwanted plants that can reduce the crop quality and yield. As per estimates, the global agricultural adjuvants industry growth from herbicide is expected to register a commendable growth rate over 2018-2025.

In the years ahead, the rising demand for sustainable farming and greener crop protection products such as agricultural adjuvants will take the industry share several notches up. Over 2012 to 2014, the UN estimated that more than 805 million people suffered from hunger, while the UN FAO reported that the world will need to produce more food by as much as 70% than it did in 2006 to feed the over growing population across the globe.

Quite overtly, because of this demand-supply mismatch in food and limited availability of arable land will pressurize many agricultural companies and farmers to rely on technology, which in turn will favor agricultural adjuvants industry expansion. A presumption validating the same is of a report compiled by Global Market Insights, Inc., that claims the worldwide agricultural adjuvants market to surpass USD 3 billion by 2025.

Author NameOjaswita Kutepatil