The fertilizing machinery market consists of sales of fertilizing machinery by entities (organizations, sole traders or partnerships) that are engaged in manufacturing fertilizing machinery such as wheel hoe, cono weeder, fertilizer dibbler and others. Only goods and services traded between entities or sold to end consumers are included.
The fertilizing machinery market is expected to decline from $14.80 billion in 2019 to $13.70 billion in 2020 at a compound annual growth rate (CAGR) of -7.5%. The decline is mainly due to the COVID-19 outbreak that has led to restrictive containment measures involving social distancing, remote working, and the closure of industries and other commercial activities resulting in operational challenges. The entire supply chain has been disrupted, impacting the market negatively. The market is expected to further decline and reach $13.12 billion in 2023 at a CAGR of -1.4%.