Fertilizer Spreader Market - Introduction
Fertilizer spreader is an agriculture equipment that is extensively utilized to distribute and spread fertilizer, seed, lime, ice melt, sand, and other material. Fertilizer spreader calibrates various rate of application depending on the spreading material being used. Generally, it is a chemical compound of dry pelletized free-flowing material which necessitates a specific rate of application. The fertilizer spreader is an alternative to the farm seeder equipment.
Fertilizer Spreader Market - Competitive Landscape
- In July 2018, Kubota Corporation announced the establishment of a new R&D center in Europe at an investment of around US$ 66 Mn. The new R&D center is dedicated toward the development of agricultural equipment and farming tractors. The strategy is likely to encourage the company’s growth and enable it to offer products as per the requirement of farmers in Europe, in the near future.
Established in 1990, AGCO Corporation, is presently based in Duluth, Georgia, U.S. It is a leading manufacturer of agricultural machinery and equipment. The company is focused on providing cutting-edge technology for the development of the agricultural equipment industry. AGCO Corporation is a global company, however, its presence is primarily concentrated in Europe and North America.
CNH Industrial N.V.
Founded in 1999, CNH Industrial N.V. has its headquarters in Racine, Wisconsin, U.S. CNH Industrial N.V. is a leading manufacturer of agricultural equipment, construction equipment, and powertrain for commercial vehicles. It supplies a wide of machinery and products under 12 brands.
Deere & Company
Established in 1837, Deere & Company currently has its headquarters in Grand Detour, Illinois, U.S. Deere & Company is a global leader in the manufacture of farm equipment. The company also manufactures equipment for construction, forestry, and mining. Its products are primarily sold in North America followed by South America and Europe.
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Fertilizer Spreader Market Dynamics
Demand for crop production with improved quality driving demand for fertilizer spreader
Continuous decline in availability of land for agriculture has led to the development and adoption of numerous technologies, such as precision agriculture and autonomous systems, which have boosted yield or output of farms. Moreover, demand for crop production with improved quality has encouraged and prompted farmers to opt for potassium and phosphorous fertilizers. This is anticipated to boost the demand for fertilizer spreader, which in turn is projected to drive the market in the next couple of years.
Additionally, subsidies offered on agricultural equipment by government bodies to boost the agricultural yield and quality of crop production are anticipated to propel the demand for fertilizer spreader in the near future.
High rate of adoption of technology in agriculture around the world
In developed regions such as Europe and North America, the rate of adoption of technology is considerably high. This is majorly due to high per capita income, thus most farmers or manufacturers who derive their raw material by farming activities adopt advanced technologies in order to boost revenues. Demand for fertilizer spreader is anticipated to rise at a significant rate in the near future, as this equipment reduces work.
Migration of rural population to hinder fertilizer spreader market
Majority of farmers are shifting for farming to other occupations, or moving to urban areas to work in industries due to preference for desk jobs rather than jobs that require physical work. This is reducing the availability of workforce for farming. Migration of rural population toward urban areas is a key factor that is projected to hamper the fertilizer spreader market.
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Fertilizer Spreader Market - Segmentation
Based on application, the fertilizer spreader market can be split into
Based on type, the fertilizer spreader market can be classified into
- Dry Spreaders
- Drop Spreaders
- Rotary Spreaders
- Liquid Spreaders
- Pendulum Spreaders
Based on components, the fertilizer spreader market can be divided into
- Hopper or Storage
- Drop Tube
- Fertilizer Distributor
Based on sales channel, the fertilizer spreader market can be bifurcated into
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