About the Fertilizer Spreader Market
The market is driven by factors like the need for increased accuracy in spreading fertilizers. As a result of improper application of fertilizers, farmers bear significant business losses due to uneven growth in crops and poor yield. Labor scarcity and increased government support to purchase agricultural equipment will also help the market grow over the next five years.
Technavio’s analysts forecast the global fertilizer spreader market to grow at a CAGR of 7.29% by revenue during the period 2016-2020.
Covered in this report
The report covers the present scenario and the growth prospects of the global fertilizer spreader market for 2016-2020. To calculate the market size, we considered the total units (volume) of new fertilizer spreaders sold across the globe in 2015. In addition, we have also covered the market size in terms of revenue.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Fertilizer Spreader Market 2016-2020
Technavio recognizes the following companies as the key players in the global fertilizer spreader market: AGCO, CLAAS, Deere & Company, Kubota, and KUHN Group.
Other Prominent Vendors in the market are: Adams Fertilizer Equipment, BOGBALLE, Earthway Products, Farmec Sulky, Great Plains, KRM, Kverneland Group, Salford Group, Scotts, Sulk Burrel, Teagle
Commenting on the report, an analyst from Technavio’s team said: “A trend propelling market growth is the increased adoption of precision farming. The increasing regulations for environment and water protection, along with the rising cost of fertilizers, are creating a greater need for smart machines, such as precision fertilizer spreaders. Precision farming practices are seeing high market growth in the field of fertilization. This is mainly because such practices consider parameters like the quality of soil and climatic conditions to precisely place the optimal amount of fertilizer, as compared to the traditional practice of uniformly spreading the fertilizer across the farmland. Precision fertilizer spreaders help to improve yields and ramp up production with the aid of features such as calibration systems to regulate the quantity of fertilizer, mass flow controllers, which monitor the amount of fertilizer required per subplot.”
According to the report, a key growth driver is the need to improve production yield. Farmers across the world are pressed with the need to improve production yield as the demand for agricultural products is increasing, owing to a rise in population. Availability of limited arable land and unfavorable fluctuations in climatic conditions further added to the demand for better yield. The quality of soil in many countries has degraded, and the use of an adequate quantity of fertilizers helps farmers increase the yield by 3-4 times. Increase in crop acreage and the need to cover large areas quickly is encouraging many farmers to adopt smart farming practices, and use optimized spreaders to apply fertilizers.
Further, the report states that one challenge that could dampen market growth is the restriction on the use of fertilizers.
GCO, CLAAS, Deere & Company, Kubota, KUHN Group, Adams Fertilizer Equipment, BOGBALLE, Earthway Products, Farmec Sulky, Great Plains, KRM, Kverneland Group, Salford Group, Scotts, Sulk Burrel, Teagle