The fertilizer applicator global market report 2024from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Fertilizer Applicator Market, 2024The fertilizer applicator global market report 2024
Market Size – 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 in the historic period can be attributed to subsidies offered by governments, increasing demand for agricultural machinery, the need for more food production, favorable government initiatives, and the rising 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 growth in the forecast period can be attributed to an emphasis on sustainable agriculture, infrastructure development, increased demand for fertilizers, rising demand for both residential and commercial gardens, shift towards liquid fertilizers. Major trends in the forecast period include the adoption of precision agriculture techniques, smart technologies, autonomous systems, data analytics and technology, remote sensing, and imaging.
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Scope Of Fertilizer Applicator MarketThe Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Fertilizer Applicator Market Overview
Market Drivers -The increasing demand for crop production is expected to drive the fertilizer applicator market. As the global population grows, so does the need for food, fiber, and sustainable agricultural products. Fertilizer applicators help by delivering essential nutrients to crops, increasing yield and production. In 2022, the UK’s total crop output rose by $2.60 billion (£2.4 billion), a 22% increase from 2021, reaching $14.43 billion (£13.3 billion), with wheat’s value rising by 50%. This surge in crop production is expected to boost the fertilizer applicator market, ensuring efficient nutrient distribution.
Market Trends – Major companies operating in the fertilizer applicators market are developing advanced autonomous spreaders, which offer increased efficiency, precision, and flexibility for farmers. An autonomous spreader is a driverless fertilizer application machine that operates in the field without an operator, using advanced guidance, control, and perception technologies to optimize efficiency, precision, and productivity. For instance, in September 2022, Case IH, a US-based agriculture company, and Raven Industries, a US-based agriculture products company, launched Case IH Trident 5550. It is a high-performance combination autonomous applicator that allows for driverless operation, leveraging various technologies, including guidance and steering, propulsion control, and sophisticated perception and path planning software. The key features include planning and executing field operations from a mobile device, using a 360-degree sensing system with cameras and radar to detect obstacles and ensure safe operation. The system’s artificial intelligence processes real-time data, enabling remote monitoring and control of various machine functions such as fuel levels, speed, and diagnostics, enhancing productivity and addressing labor challenges in agriculture.
The fertilizer applicator market covered in this report is segmented –
1) By Type: Mounted, Trailed, Self-Propelled
2) By Product: Broadcast Spreaders, Drop Spreaders, Other Products
3) By Application: Farm, Garden Landscape, Other Applications
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Regional Insights – 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.
Key Companies – Major companies in the 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 Agrícola Solà, RAUCH Landmaschinenfabrik GmbH, Frans Vervaet BV, Thurston Manufacturing Co, Pequea Machine Inc, Sulky Burel, Mayfield Enterprises, Fertec
Table of Contents 1. Executive Summary2. Fertilizer Applicator Market Report Structure3. Fertilizer Applicator Market Trends And Strategies4. Fertilizer Applicator Market – Macro Economic Scenario5. Fertilizer Applicator Market Size And Growth…..27. Fertilizer Applicator Market Competitor Landscape And Company Profiles28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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