Dublin, Dec. 13, 2022 (GLOBE NEWSWIRE) -- The "Fertilizer Spreader Market - Global Outlook & Forecast 2023-2028" report has been added to ResearchAndMarkets.com's offering.
The global fertilizer spreader market is expected to grow at a CAGR of 4.3% during 2022-2028.
For several governments, food self-sufficiency is the key agenda due to the decline in arable land in the name of urbanization, exploitation of natural resources, and a massive shift in food production and the global consumption pattern.
Therefore, it has become imperative for governments to adopt efficient and sustainable farming practices to ensure food security and safety. Increasing focus on farm mechanization in developing countries is increasing the demand for fertilizer spreaders as they will help increase output yield, thereby contributing to the growth of the fertilizer spreader market. Moreover, the growing concept of precision farming will increase the demand for technologically advanced fertilizer spreaders in developed countries.
These spreaders will also assist in soil mapping, using satellite technology to direct fertilizer application and software programs that analyze soil nutrients to decide fertilizer application.
The fertilizer spreader market witnessed a recovery in 2021 after the decline in 2019 and 2020. India, China, and the US are the leading markets with the highest sales. In contrast, China witnessed a tremendous increase in the sale of fertilizer spreaders in the segment of mounted spreaders.
Further, increasing the number of technologically advanced fertilizer spreaders and implements is the solution to save money and time and increase yields. The governments are keen on increasing the farm mechanization rate among farmers, boosting the demand and sales of new equipment in the global fertilizer spreader market. The mechanization of farms is deemed necessary for the agriculture sector as it has the potential to improve food production and reduce the labor shortage.
MARKET TRENDS & OPPURTUINITES
Development of Smart and Autonomous Spreaders
A new frontier of innovation is emerging in the global fertilizer spreader market as agriculture meets digital technologies, opening various paths to a smart agricultural future. Fertilizer spreader manufacturers have become very competitive, and companies constantly strive to innovate and ensure product differentiation at affordable prices.
Currently, fertilizer spreader has state-of-the-art technology developed by farm equipment manufacturers to collect and use for analysis and real applications. GPS technology on fertilizer spreaders and other equipment helps farmers with field mapping, soil sampling, and crop scouting. It also allows them to work during low visibility field conditions such as rain, dust, and fog with maximum efficiency.
Increasing Farm Mechanization
Prominent and emerging countries across the globe are witnessing a high rate of farm mechanization; however, the level of mechanization varies among geographical regions. In agricultural countries such as India, China, and the US, there is a need to implement advanced technology to increase production and net incomes due to high growth in the countries. These countries are also adopting farm mechanization at a faster rate.
SEGMENTATION INSIGHTS
INSIGHTS BY MOUNTING TYPE:
The mounted fertilizer spreader segment generated the highest sales in almost all regions worldwide, and the segment witnessed shipments of 299 thousand units in 2022. This segment mainly includes fertilizer spreaders mounted on a truck or tractor.
Granular fertilizers are often dispersed using these spreaders, sometimes referred to as rotating or centrifugal spreaders. The future growth of this market will be positively impacted by the consolidation of farmland, as these spreaders are primarily used on large farms.
In addition, the manufacturers are releasing newly mounted spreaders with enhanced features, including GPS speed sensors to maintain the proper speed, balanced fertilizer distribution, and pressure-based nozzle control systems to guarantee a consistent pattern in fertilizer spreading.
Segmentation by Mounting
- Mounted
- Trailed
- Self-propelled
INSIGHTS BY FERTILIZER TYPE:
The solid fertilizer type dominates the industry and witnessed shipments of 461 thousand units in 2022. Factors such as being an inexpensive option, demanding virtually no supplies and little equipment, and increased cost-efficiency compared to liquid fertilizer are boosting the industry share of solid fertilizer in the global fertilizer market.
The liquid fertilizer spreader market is expected to grow at a CAGR of 3.9% during the forecast period. Many farmers are turning to liquid fertilizers due to the increase in cropland and the growing need to increase crop production because plants can absorb these nutrients and provide results more quickly.
Segmentation by Fertilizer
- Solid
- Liquid
VENDOR LANDSCAPE
The global fertilizer spreader market is moderately fragmented, with many local and international players. As consumers expect constant advancements and upgrades in agricultural equipment, the increasingly changing economic environment may hamper vendor growth. The current situation pushes vendors to adjust and improve their value proposition to attain a good business presence.
Key Company Profiles
- AGCO Corporation
- CNH Industrial
- Deere & Company
- Kuhn Group
- Amazone Werke
Other Prominent Vendors
- Adams Fertilizer Equipment
- Eurospand Cavallo
- CEA AGRIMIX
- Montag Mfg
- Salford Group
- Cleris
- Takakita
- Enorossi
- Vervaet
- Kuxmann
| Report Attribute | Details |
| No. of Pages | 199 |
| Forecast Period | 2022 - 2028 |
| Estimated Market Value in 2022 | 584.7 Thousand Units |
| Forecasted Market Value by 2028 | 755.6 Thousand Units |
| Compound Annual Growth Rate | 4.3% |
| Regions Covered | Global |
Key Topics Covered:
1 Research Methodology
2 Research Objectives
3 Research Process
4 Scope & Coverage
5 Report Assumptions & Caveats
6 Market at a Glance
7 Premium Insights
8 Introduction
9 Market Opportunities & Trends
10 Market Growth Enablers
11 Market Restraints
12 Market Landscape
13 Mounting Type
14 Fertilizer Type
15 Geography
16 North America
17 Europe
18 APAC
19 Latin America
20 Middle East & Africa
21 Competitive Landscape
22 Key Company Profiles
23 Other Prominent Vendors
25 Quantitative Summary
26 Appendix
For more information about this report visit https://www.researchandmarkets.com/r/29n1o5
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