According to a new market report published by Industry Probe titled ‘Fertilizer Applicator Market (Product: Broadcast Fertilizer Applicator and Drop Fertilizer Applicator; Type: Handheld/Push, Pull Type, and Equipment Mounted; Fertilizer: Dry Fertilizer and Liquid Fertilizer; Application: Agricultural, Commercial, and Residential) – Global Industry Dynamics 2018-19, Trends and Forecast, 2020–2027,’ the global fertilizer applicator market is expected to expand at a CAGR of 4.1% from 2019 to 2027 and reach US$ 2,758.3 Mn by 2027.
Demand for sophisticated agricultural equipment has grown significantly in the past few years with growing urbanization and mechanization of agriculture. A wide range of fertilizer applicators are available in the market. Broadcast and drop fertilizer applicators are the two main product categories offered in the market.
Europe held major share in the global fertilizer applicator market in 2018 followed by North America and Asia Pacific. The Asia Pacific market is expected to show good growth opportunities for manufacturers of fertilizer applicators during the forecast period.
The fertilizer applicator market is experiencing consistent growth due to the increase in investment opportunities and decline in manual labor in agriculture
Fluctuations in climate conditions, decline in arable land, and population growth are some of the major factors responsible for high demand for improved yields. Farmers in developed regions such as Europe and North America regularly use fertilizers as they help to increase production without adverse impact on soil health. Demand for applicators is increasing rapidly due to increase in use of fertilizers, thus driving the fertilizer applicator market.
Rapidly growing agricultural machinery/equipment rental opportunities for farmers who cannot afford to purchase high-tech, high-cost equipment is expected to drive demand for innovative fertilizer applicators globally. Additionally, the rental framework also allows farmers in developing markets to establish and increase farm mechanization practices to participate more extensively in the global marketplace.
Farmers and crop growers in developing regions are used to conventional and old fertilizer applicators. Therefore, they resist the use of new fertilizer applicators with advanced technology, which is a challenging task for manufacturers of fertilizer applicators.
Based on region, Europe holds major share of the global fertilizer applicator market, followed by North America. In Europe, the agricultural machinery manufacturing sector comprises over 7,100 industrial firms, employing 180,000 people.
Over the past few years, the cost of fertilizer applicators have gone up as the Dollar rose against the Euro; despite this fact, fertilizer applicators continue to enjoy stable demand from European farmers. The ongoing economic recovery along with the strong private consumption in Europe is expected to boost the demand for fertilizer applicators in the region.
The fertilizer applicator market is dominated by several players who are focused on the development of new products to cater to the changing consumer preferences.
The report includes the below mentioned pointers of major players operating in the fertilizer applicator market:
Market Share Analysis (2018)
Product Comparison Analysis
Business Strategies / Recent Developments
Key mergers and acquisitions
AMAZONEN-WERKE H. Dreyer GmbH & Co. KG
Salford Group, Inc.
FAST AG Solutions
Dalton Ag Products
Deere & Company
Great Plains Manufacturing, Inc.
New Leader Manufacturing
Kennco Manufacturing, Inc.
The Scotts Company LLC