The fertilizer applicators market size has shown strong growth in recent years, expected to rise from $2.10 billion in 2023 to $2.25 billion in 2024, reflecting a compound annual growth rate (CAGR) of 7.2%. This growth during the historical period can be linked to government subsidies, rising demand for agricultural machinery, the necessity for increased food production, favorable government initiatives, and the growing global population. In the forecast period, the fertilizer applicators market is anticipated to continue its growth, reaching $2.99 billion in 2028 at a CAGR of 7.4%. This growth is driven by an emphasis on sustainable agriculture, infrastructure development, increasing demand for fertilizers, the rising need for both residential and commercial gardens, and a shift toward liquid fertilizers. Key trends expected to emerge during this period include the adoption of precision agriculture techniques, the use of smart technologies, the development of autonomous systems, advancements in data analytics and technology, as well as remote sensing and imaging capabilities.
Global Fertilizer Applicator Market Key Driver
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.
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Global Fertilizer Applicator Market Segments
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
By Geography:The regions covered in the fertilizer applicator market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
Asia-Pacific was the largest region in the fertilizer applicators market in 2023.
Major Fertilizer Applicator Industry Players
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
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Fertilizer Applicator Market Overview
A fertilizer applicator is a device or equipment used to apply fertilizer to soil or plants in an agricultural setting. The primary purpose of a fertilizer applicator is to distribute fertilizer evenly and efficiently to enhance soil fertility and promote healthy plant growth.
Fertilizer Applicator Global Market Report 2023 provides data on the global fertilizer applicator market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The fertilizer applicator market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.
