Industrial Vegetation Management Market Trends And Forecasts (2017 To 2022)
The Global Industrial Vegetation Management market is anticipated to grow at XX% CAGR from 2017 to 2022 and it is estimated that the global market was valued at USD XX million in 2017 and is expected to reach USD XX million by 2022.
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Industrial Vegetation Management is defined as the process of selectively promoting growth of low growing vegetation in order to inhibit the growth of taller vegetations such weed tress and other forms of weed. Utility companies have to spend heavily on vegetation Management in order to evict these unwanted plants. For instance, Electrical based utilities have to manage vegetation around power lines as vegetation is one of the most frequent reasons behind malfunctioning of distribution as well as transmission devices. As a result, electrical utilities have to continuously invest in vegetation management.
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Over the past decade, IVM market has witnessed a negative growth rate and as a result, the overall market share of IVM has declined. This can be mainly accredited to the availability of cheaper generic products in the market. The decline is not due to a loss of consumers but due to an overall decline in the sales of IVM products, even when these generic products have forced the big manufacturers of IVM products to lower their prices to meet the heavy competition. Moreover, utility vegetation management has come under heavy scrutiny due to the events of 2003 Northeast Blackout, the 2006 European blackout, and the 2009 Black Saturday bushfires. As a result, governments have put in new stricter policies to increase expectations from companies offering IVM services. Be that as it may, there still remains a huge market potential as innovative product are being introduced in the market. IVM manufacturing giants such as Dow Agroscinces are investing heavily in product innovation and enhanced service delivery.
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- Market Segmentation
- Product
- Introduction
- Insecticides
- Herbicides
- Plant Growth Regulators
- Others
- Y-o-Y Growth Analysis, By Product
- Application
- Introduction
- Forestry
- Rangeland and Pastureland
- Railroads
- Roadways
- Electric Utilities and Pipelines
- Aquatic Areas
- Y-o-Y Growth Analysis, By Application
- Market Attractiveness Analysis, By Application
- Market Share Analysis, By Application
On the basis of geography, the Industrial Vegetation Management market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East and Africa. North America accounted for the largest share of the Industrial Vegetation Management market followed by Europe and Asia Pacific. Asia Pacific is expected to witness the highest CAGR in the coming years.
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The market is dominated by companies like Dow AgroSciences, Monsanto, DuPont, BASF, Nufarm, Makhteshim Agan, Boultbee Vegetation Management, Helena and Dbi services.
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