Pune, July 25, 2024 (GLOBE NEWSWIRE) -- Fertilizer Spreader Market Growth Analysis:
“According to SNS Insider Research, The Fertilizer Spreader Market size was valued at US$ 763.39 Million in 2023. It is expected to reach US$ 1216.11 Million by 2032 and grow at a CAGR of 5.31% over the forecast period 2024-2032.”
Market Overview
The Fertilizer Spreader Market is registering a major growth owing to increasing demand for efficient application of fertilizers. The growth of the market is primarily driven by the soaring adoption of advanced agricultural equipment’s to ensure precise manure or fertilizers spread, which in turn leads to the higher crop yields. The upsurge in market value is mainly attributed to the world-wide trend of urbanization, mechanization, and technological progress. The upping of the average land holding, cultivating variety of crops, population growth, and others factors resulted in the rapid growth of Fertilizer Spreader Market. The market is expected to witness a positive trajectory in adopting autonomous and semi-automatic spreaders in both agricultural and landscaping purposes. As per the report of the California Farm Bureau, over 40% of farmers have reported the shortage of labor in farm operations over the past five years. Resultantly, there is an increase in deployment of automated fertilizer spreader equipment’s which has lesser human interaction, minimizes the time, and enhances productivity.
The significant driver of the market is the precision agriculture, which uses GPS and remote sensing to improve the application accuracy. The approach reduces the waste of manure and fertilizers incorporating the same in enhancing the crop yielding capacity. There is a global trend of precision agriculture as sustainable farming through the judicious use of fertilizers reduces environmental pollution by the less application of chemicals. The implication of a technological system called Variable Rate Technology VRT in spreaders drives the growth of Fertilizer Spreader Market. The technology allows the application of manure or fertilizers as per the requirement of varying soil characteristics.
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Major Players Analysis Listed in this Report are:
- Deere & Company
- Kubota Corporation
- Mahindra & Mahindra Ltd
- Agco Corporation
- CNH Industrial N.V
- Claas KGaA mbH
- Bucher Industries AG (KUHN Group)
- Adams Fertilizer Equipment
- Dalton AG Inc
- Teagle Machinery Ltd
- Bogballe A/S
- Other Players
Fertilizer Spreader Market Report Scope:
| Report Attributes | Details |
| Market Size in 2023 | US$ 763.39 Mn |
| Market Size by 2032 | US$ 1216.11 Mn |
| CAGR | CAGR of 5.31% From 2024 to 2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Data | 2020-2022 |
| Key Regional Coverage | North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe] Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]), Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East], Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia, Rest of Latin America) |
| Key Growth Drivers | • Precision agricultural output and cut down on resource waste, precision agriculture techniques are growing in popularity. Spreaders for fertilizer are an essential part of precision farming. • In many nations, government subsidies and incentives for the agricultural industry encourage farmers to embrace cutting-edge farming techniques, including the use of machinery like fertilizer spreaders. |
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Segmentation Analysis
Fertilizing spreader market has a vast number of products for lawn, garden, farm, and public usage. Broadcasting spreader type is expected to dominate the market with CAGR of 4.6% owing to its continuous product development for different applications. However, drop spreader segment is also expected to grow owing to its ability to provide an even spread in specific areas.
Farm segment dominates over the market share and is expected to grow at a high rate of 63.40% by 2023. This is owing to factors such as declining agricultural workforce and increasing spreader usage in various farming activities. Fertilizer spreading ensures proper fertilizer spread, which in turn leads to sustainable agriculture and increased crop yields. Furthermore, these types of spreaders are cost-effective for small and large-sized farms.
Fertilizer Spreader Market Key Segmentation:
By Type
- Drop Spreader
- Broadcast Spreader
By Application
- Farm
- Public Gardens
- Others
Regional Developments
The Asia-Pacific dominates the fertilizer spreader market with a share of 36% in 2023. This is attributed to the increasing agricultural land in India and China. In addition, the growing awareness among the farmers, rising disposable income, increased use of fertilizers to improve crop yield, and government programs facilitate the growth of the market in the region.
Future Growth of the Market
The fertilizer spreader market is likely to continue its growth in the future. This is evidenced by the rising concerns related to food security and the increasing adoption of precision agriculture. The growth of the market is also attributable to the advancements of automation and the incorporation of GPS into the listed form of machinery.
Recent Developments
In May 2023: Jacto, an agricultural machinery company, showcased revolutionary fertilizer spreading and spraying equipment at NAMPO 2023. The Uniport 5030 NPK fertilizer spreader was the star of this Nampo edition
In December 2022: Earth & Turf Products, a dresser and turf care equipment manufacturer, has introduced a new range of Dri-Flo drop spreaders
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Key Takeaways
- Fertilizer Spreader Market is increasing, supported by the rising agricultural technology and need of fertilizers.
- Growing emphasis on precision agriculture and automation, resulting in the better productivity as well as less resource wastage.
- The Asia-pacific being the major market contributor due to increase agricultural activities along with supportive government policies.
- The advanced product and opportunities provided by the existing market leader to further show promising opportunities.
- The market report gives the clear idea of market trend, opportunities, and competitive strategies and thus helps clients to go ahead with their business understanding.
Table of Contents – Major Key Points
1. Introduction
2. Industry Flowchart
3. Research Methodology
4. Market Dynamics
5. Porter’s 5 Forces Model
6. Pest Analysis
7. Fertilizer Spreader Market Segmentation, By Type
8. Fertilizer Spreader Market Segmentation, By Application
9. Regional Analysis
10. Company Profiles
11. Competitive Landscape
12. USE Cases and Best Practices
13. Conclusion
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