Global Fertilizing Machinery Market Trends And Strategies Of Major Players In The Tablets Market 2020
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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%. High demand for food crops across the globe is expected to contribute to the growth of the fertilizing machinery market.
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.
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The global fertilizing machinery market is further segmented based on product type, disc type, application and geography.
By Product Type: Fertilizer Dryers, Fertilizer Screening Machines, Fertilizer Crushers, Fertilizer Granulators, Fertilizer Mixers.
By Disc Type: Single Disc Fertilizer Spreaders, Double Disc Fertilizer Spreaders.
By Application: Agriculture, Forestry, Greenbelt, Other.
By Geography: The global fertilizing machinery market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa.
Among these regions, the North American fertilizing machinery market was the largest region in the global fertilizing machinery market in 2019.
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Trends In The Fertilizing Machinery Market
The launch of fertilizer drone machines is gaining popularity in the fertilizing machinery market. Fertilizer drone machines can be used for fertilization of crops such as rice, wheat, vegetables, seeding, flowers, and others. It can also reduce the use of pesticides by 20% compared to manual operations, and greatly reduce operating time, reduce the cost of growers, and increase spraying accuracy.
Fertilizing Machinery Global Market Report 2020 is one of a series of new reports from The Business Research Company that provides fertilizing machinery market overviews, analyzes and forecasts market size and growth for the global fertilizing machinery market, fertilizing machinery market share, fertilizing machinery market players, fertilizing machinery market segments and geographies, fertilizing machinery market’s leading competitors’ revenues, profiles and market shares. The fertilizing machinery market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.