PUBLISHER: The Business Research Company | PRODUCT CODE: 1387877
PUBLISHER: The Business Research Company | PRODUCT CODE: 1387877
“Fertilizing Machinery Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on fertilizing machinery market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for fertilizing machinery? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The fertilizing machinery market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
Fertilizing machinery encompasses a range of equipment designed to assist crop farmers in sowing seeds for crop production and evenly distributing fertilizers in the field.
The primary product categories within fertilizing machinery include fertilizer dryers, fertilizer screening machines, fertilizer crushers, fertilizer granulators, and fertilizer mixers. Fertilizer granulators are particularly important in fertilizer manufacturing facilities, as they are used to transform raw materials into specific organic and compound fertilizers. Fertilizer spreaders come in various types, such as single-disc and double-disc fertilizer spreaders, and play a crucial role in evenly distributing fertilizers in agricultural, forestry, greenbelt, and other relevant applications. These machines are essential tools in modern agriculture to enhance crop production and optimize the use of fertilizers.
The fertilizing machinery market research report is one of a series of new reports from The Business Research Company that provides fertilizing machinery market statistics, including fertilizing machinery industry global market size, regional shares, competitors with a fertilizing machinery market share, detailed fertilizing machinery market segments, market trends and opportunities, and any further data you may need to thrive in the fertilizing machinery industry. This fertilizing machinery market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The fertilizing machinery market size has grown strongly in recent years. It will grow from $14.54 billion in 2023 to $15.72 billion in 2024 at a compound annual growth rate (CAGR) of 8.1%. The growth observed during the historical period can be attributed to various factors, including prevailing trends in agriculture, population growth, environmental regulations impacting farming practices, and economic factors influencing the adoption of fertilizing machinery. These dynamics have driven the demand for such machinery in the agricultural sector, enabling farmers to improve their crop production and manage resources more efficiently.
The fertilizing machinery market size is expected to see strong growth in the next few years. It will grow to $20.84 billion in 2028 at a compound annual growth rate (CAGR) of 7.3%. The anticipated growth in the forecast period can be attributed to several factors, including growing concerns about sustainability and the environment, the rising global demand for food, government incentives and regulations that promote modern farming practices, the impact of climate change and weather variability on agriculture. These factors are expected to drive the adoption of fertilizing machinery as farmers seek more efficient and environmentally friendly solutions to meet the world's food needs. Key trends in the forecast period include ongoing technological advancements in fertilizing machinery, industry consolidation leading to the emergence of larger and more integrated manufacturers, the introduction of autonomous and AI-driven machinery to enhance precision and productivity, the use of variable rate technology (VRT) to optimize fertilizer application, and increased integration of fertilizing machinery with other farming equipment for streamlined operations. These trends reflect the evolving landscape of agriculture and the continuous innovation in the field of fertilizing machinery.
The fertilizing machinery market is poised for growth due to the increasing global demand for food crops. The expanding agriculture sector has generated a need for fertilizing machinery to enhance crop growth. In India, for example, the Second Advance Estimates for 2021-22 revealed an estimated food grain production of 316.06 million tons, with rice production estimated at 127.93 million tons, and Nutri/coarse cereals at 49.86 million tons. This surge in demand for high-yield food crops to meet global food requirements is a driving force behind the growth of the fertilizing machinery market.
Government initiatives promoting agricultural mechanization are expected to further propel the fertilizing machinery market. Agricultural mechanization involves the use of mechanical and technological equipment to enhance farming efficiency, productivity, and sustainability. Governments offer support through subsidies, research funding, infrastructure improvements, trade policy influence, and sustainability initiatives. By encouraging the adoption of modern equipment in rural development programs, these initiatives motivate farmers to invest in advanced machinery, thus contributing to agricultural modernization and increased productivity. For instance, the UK government introduced a funding opportunity of up to $591,220 (£500,000) for farmers and growers to invest in robotics and technology, aiming to boost food production as part of the Farming Innovation Programme. Consequently, an increasing number of government initiatives focused on agricultural mechanization is driving the growth of the fertilizing machinery market.
The stringent restrictions on fertilizer use due to environmental concerns pose challenges to the fertilizing machinery market. Overusing fertilizers can adversely affect both crop produce and topsoil quality. In some instances, governments have implemented bans on fertilizers to promote organic farming, as seen in Sri Lanka in 2021. The emissions resulting from fertilizer applications contribute significantly to greenhouse gases, causing global warming and environmental changes. Therefore, to protect the environment, bans on fertilizers have been imposed, restraining the fertilizing machinery market.
The introduction of fertilizer drone machines is gaining popularity in the fertilizing machinery market. These machines can efficiently fertilize various crops, reduce pesticide usage, lower operational costs, save time, and improve spraying accuracy. For example, in 2021, Da-Jiang Innovations (DJI) launched the DJI AGRAS T20, an agricultural drone equipped with an upgraded spraying system. It can carry a payload of up to 20kg and optimize nozzle layout to enhance spray droplet uniformity and width. This technology is versatile and can be used in applications such as grassland reseeding, granular fertilizer spreading, and feed distribution for fish and shrimp.
Major companies in the fertilizing machinery market are focusing on autonomous technology to maintain their market position. Autonomous fertilizing machines can perform fertilization tasks without direct human intervention. In collaboration with Raven Industries Inc., Case IH introduced the Trident 5550 applicator in August 2022. This autonomous spreader combines driverless technology with advanced cameras and radar systems to allow remote planning and execution of field operations, obstacle detection, and real-time monitoring and control via mobile devices. Such innovations address labor shortages, enhance operational efficiency, and provide precise spreading in the field, marking a pioneering step in autonomous agriculture equipment.
In June 2021, CNH Industrial N.V., a UK-based agricultural machinery company, acquired Raven Industries, Inc. for an undisclosed sum. This acquisition enhanced CNH Industrial's capabilities in precision agriculture technology, boosting innovation and strengthening its position in the global agriculture equipment market. Raven Industries, Inc. is a US-based company specializing in precision agriculture technology, high-performance specialty films, and aerospace and defense solutions.
Major companies operating in the fertilizing machinery market include Deere and Company, Kuhn Group, AGCO Corporation, Kubota Corporation, Lanco Corporation, CNH Industrial NV, Mahindra Tractors, Simonsen Industries Inc., Crump Spreaders Australia, Salford Group Inc., Great Plains Manufacturing Inc., Dawn Equipment Company Inc., Yetter Manufacturing Company Inc., Bourgault Industries Ltd., Horsch Maschinen GmbH, Hardi International A/S, John Shearer Pty. Ltd., Morris Industries Ltd., Vaderstad-Verken AB, Kverneland Group, Amazone Ltd., Bogballe A/S, Rauch Landmaschinenfabrik GmbH, Sulky-Burel SAS, Vicon Industries Inc., Chandler Equipment Inc., Adams Fertilizer Equipment, Dalton Ag Products, Doyle Equipment Manufacturing Co., Newton Crouch Company LLC, RBR Enterprise, Willmar Fabrication LLC, GT Bunning and Sons Ltd, Cosmo Srl, Fimco Industries, Gandy Company
The Asia-Pacific was the largest region in the fertilizing machinery market in 2023. North America was the second largest region in the fertilizing machinery market analysis. The regions covered in the fertilizing machinery market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The countries covered in the fertilizing machinery market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada
The fertilizing machinery market consists of sales of wheel hoe, cono weeder, self-propelled power weeder, fertilizer band placement cum earthing up machine, tractor operated fertilizer dibbler for ratoon sugarcane, and GPS based variable rate granular fertilizer applicator. Values in this market are factory gate values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.