PUBLISHER: The Business Research Company | PRODUCT CODE: 1578695
PUBLISHER: The Business Research Company | PRODUCT CODE: 1578695
A fertilizer applicator is a device or piece of equipment designed to distribute fertilizer across soil or plants in agricultural settings. Its main purpose is to evenly and efficiently apply fertilizer to enhance soil fertility and support healthy plant growth.
Fertilizer applicators come in three primary types such as mounted, trailed, and self-propelled. Mounted applicators are attached directly to tractors, utilizing the tractor's power to distribute fertilizer across the field. The range of products includes broadcast spreaders, drop spreaders, and other variants tailored for different applications such as farms, gardens, and landscapes.
The fertilizer applicator market research report is one of a series of new reports from The Business Research Company that provides fertilizer applicator market statistics, including fertilizer applicator industry global market size, regional shares, competitors with a fertilizer applicator market share, detailed fertilizer applicator market segments, market trends, and opportunities, and any further data you may need to thrive in the fertilizer applicator industry. This fertilizer applicator market research report delivers a complete perspective on everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The fertilizer applicators market size has grown strongly in recent years. It will grow from $2.10 billion in 2023 to $2.25 billion in 2024 at a compound annual growth rate (CAGR) of 7.2%. The growth observed during the historic period can be attributed to several factors, including government subsidies, rising demand for agricultural machinery, the need to boost food production, supportive government initiatives, and the increasing global population.
The fertilizer applicators market size is expected to see strong growth in the next few years. It will grow to $2.99 billion in 2028 at a compound annual growth rate (CAGR) of 7.4%. The anticipated growth during the forecast period can be attributed to several factors, including a focus on sustainable agriculture, infrastructure development, increased demand for fertilizers, rising interest in residential and commercial gardens, and a shift towards liquid fertilizers. Major trends expected during this period include the adoption of precision agriculture techniques, smart technologies, autonomous systems, data analytics, remote sensing, and imaging.
The growing demand for crop production is set to drive the growth of the fertilizer applicator market. Crop production involves cultivating plants for food, fiber, fuel, and other agricultural products, with increasing demand driven by population growth, higher food consumption, and the need for sustainable resources. Fertilizer applicators are essential in this process as they ensure the precise delivery of nutrients to plants, which enhances growth and yield. For example, in October 2022, the Department for Environment, Food, and Rural Affairs reported that total crop output in the UK rose by $2.60 billion (£2.4 billion) in 2022, marking a 22% increase from 2021, driven largely by a 50% increase in the value of wheat. This rising demand for crop production fuels the growth of the fertilizer applicators market.
Leading companies in the fertilizer applicators market are focusing on developing advanced autonomous spreaders to enhance efficiency, precision, and flexibility in farming. An autonomous spreader operates without an on-site operator, using advanced guidance, control, and perception technologies. For instance, in September 2022, Case IH and Raven Industries introduced the Case IH Trident 5550, a high-performance autonomous applicator that features driverless operation capabilities. This machine utilizes guidance and steering systems, propulsion control, and sophisticated perception and path planning software. It includes a 360-degree sensing system with cameras and radar for obstacle detection and safe operation, allowing for remote monitoring and control of functions such as fuel levels, speed, and diagnostics, thus improving productivity and addressing labor challenges.
In February 2023, Valley Industries LLP acquired Bestway AG for an undisclosed amount, enhancing its position in the agricultural market. This acquisition allows Valley Industries to expand its product offerings and leverage Bestway AG's established brand and customer base. Bestway AG specializes in agricultural and liquid handling equipment, including sprayers and fertilizer applicators.
Major companies operating in the fertilizer applicator market are Deere and Company, CNH Industrial N.V., Kubota, Mahindra & Mahindra, AGCO Corporation, Kuhn Group, Stara S/A, Great Plains Manufacturing AG, Kverneland Group, Bourgault Industries Ltd., Hardi International, Salford Group, Teagle Machinery Ltd., Maquinaria Agricola Sola, RAUCH Landmaschinenfabrik GmbH, Frans Vervaet BV, Thurston Manufacturing Co, Pequea Machine Inc, Sulky Burel, Mayfield Enterprises, Fertec
Asia-Pacific was the largest region in the fertilizer applicators market in 2023. The regions covered in the fertilizer applicator market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the fertilizer applicator market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The fertilizer applicators market consists of sales of liquid fertilizer applicators, fertilizer injectors, precision fertilizer applicators, fertigation systems, granular fertilizer spreaders, and accessories and components. 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.
Fertilizer Applicator 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 fertilizer applicator 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 fertilizer applicator ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The fertilizer applicator 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.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.