Fertilizer Spreader Market Size, Share & COVID-19 Impact Analysis, By Type (Drop Spreader and Broadcast Spreader), By Application (Public Gardens, Farm, and Others), and Regional Forecast, 2022-2029

The global fertilizer spreader market size was valued at USD 691.3 million in 2021 and is projected to grow from USD 724.8 million in 2022 to USD 1,040.2 million by 2029, exhibiting a CAGR of 5.3% during the forecast period. Based on our analysis, the global market exhibited an average growth of 4.3% in 2020 as compared to 2019. 

The product is used to spread fertilizer or chemicals across farms, public gardens, home lawns, and in commercial turf applications. Rapid growth in technological advancements, with mechanization, and urbanization is observed globally. This, in turn, is stimulating the rise in demand for sophisticated agricultural machinery, thereby boosting the growth of the market. Farmers who choose traditional methods to spread fertilizers face poor crop performance due to uneven spreading. Therefore, with the use of this product, farmers focus more on accurate use of fertilizer, and also helps to improve the production of crops, which is expected to fuel the growth of the market. 

With increase in population, cultivation of crops is growing drastically, which, in turn, generates the need for autonomous and semi-automatic spreader products. According to the California Farm Bureau survey, it has been anticipated that more than 40% of the farmers have faced shortage for various farm operations over the past five years, which led to a rise in adoption of automated fertilizer spreading equipment for agricultural and landscaping applications. Benefits associated with these products, such as less human interaction, less time consuming process, and increase in efficiency, are projected to boost the fertilizer spreader market growth.

Rise in government initiates to provide subsidies on these products and low-interest rates is expected by many farmers to purchase these machines, thereby boosting the growth of the market. For instance, in June 2020, according to the Sub-mission on Agricultural Mechanization (SMAM), the Indian government provided around 80% subsidy on purchase of agricultural equipment such as tractors and others. Due to increase in disposable income of the population, farmers spend more on agricultural machinery. These factors are projected to increase the fertilizer spreader market share.

COVID-19 IMPACT

Significant Decline in Product Demand During COVID-19 Hampered Market Growth

In March 2020, the World Health Organization (WHO) declared the spread of COVID-19 globally at full pace, which forced many countries, such as India, China, U.S., and others, to halt agricultural activities and manufacturing facilities owing to lockdown restrictions, which impacted negatively on the growth of the market. For instance, the net sales of AGCO Corporation dropped by 5.7% from 2019-2020.

The market players witnessed a significant decline in revenue generated during 2020. For instance, Kubota Corporation registered a decline of around 3.5% in total revenues generated in 2020 as compared to 2019. The farm & industrial machinery segment witnessed a decline of around -4.1% in 2020. In the long term, the COVID-19 pandemic is estimated to have a positive effect on the global market. According to various secondary sources, from the 2nd quarter of 2020, the demand for these technologically advanced products kept on growing and is further projected to register a significant growth. Furthermore, technologically advanced products and research & development activities are projected to hold the process of long-term growth of the market.

LATEST TRENDS

Technological Advancements in the Product to Positively Influence Market Growth

Nowadays, many major players are introducing innovative spreading equipment with autonomous systems, precision systems, and semi-automatic systems to intensify the market competition. For instance, Highway Equipment Company offers the NL 5000 G5 autonomous spreader. It is operated automatically and has precision application. It has features such as easy to use, precision control, and less maintenance. In addition, it provides a high working capacity and great overall compactness. In the past few years, these machines have implemented new technological innovations, which is anticipated to boost the growth of the market.  

DRIVING FACTORS

Rise in Demand for Fertilizers in Farming to Boost Market Growth

There has been a rise in demand for fertilizers across farms globally. In addition, an increasing demand to consume vegetables & fruits with minimal use of fertilizers is anticipated to give rise to demand for fertilizer spreading equipment. Furthermore, rise in demand for potassium fertilizers and phosphorus fertilizer for agricultural activities is anticipated to encourage the use of fertilizer spreading equipment and boost the market growth. Shortage of labor across developing countries, such as India, Brazil, South Africa, and others, is anticipated to drive the growth of the market.

RESTRAINING FACTORS

Fluctuation in Raw Material Prices to Decrease Product Demand

Metal alloys, stainless steel, and other metals are vital raw materials used by manufacturers. Prices of raw materials, such as metal and stainless steel, are volatile. The volatility in the prices of raw materials can affect the prices of these products and also affect the profitability of manufacturers. For example, if there is a rise in the prices of steel, metal, and alloys, this fluctuation can increase the prices of the fertilizer spreading equipment, which could affect the sales. Hence, fluctuation in raw material prices is anticipated to act as a restraint for the growth of the market.

SEGMENTATION

By Type Analysis

Substantial Improvement in Fertilizer Spreading Equipment to Provide Considerable Growth of Drop Spreader Segment 

On the basis of type, market is segmented into drop spreader and broadcast spreader. The broadcast spreader segment is expected to exhibit the highest CAGR of 4.3% during the forecast period. Broadcast spreader is a chief contributor to the market growth. It is credited to continuous product development that is complimentary for spreading fertilizers across farms, public gardens, commercial turf application, and home lawns. Broadcast spreader has hopper capacity larger than drop spreader.

The drop spreader segment is anticipated to observe an extensive growth rate, owing to the fact that it takes extra care to make sure different parts of the lawn receive an even coverage. It is easy to use and more accurate as compared to broadcast spreader. It can work well on lawns or spaces that are under 5,000 square feet in size.

By Application Analysis

Farm Segment Set to Observe Significant Growth Owing to Rise in Agricultural Automation

By application, the market is divided into farm, public gardens, and others (commercial turf application and home lawns).

The farm segment is projected to observe a robust growth due to shortage of farm workers and rise in the use of these equipment in farming operations. Majority of the land uses such products to spread fertilizers. It leads to even distribution of fertilizers, thereby aiding in sustainable production throughout the year. Small and big farms are using these products as well.

The public gardens segment is expected to witness a steady growth, especially in countries such as France, Italy, India, and others. Small spreaders or handheld spreaders are used in public gardens to spread chemicals or fertilizers.

The others (commercial turf application and home lawns) segment is expected to witness a substantial growth rate due to rising preference of these fertilizer spreaders to increase agricultural production, which is expected to drive the growth of the market.

REGIONAL INSIGHTS

The global market is studied across Europe, North America, Latin America, Asia Pacific, and the Middle East & Africa.

Asia Pacific is expected to lead the global market, owing to robust economic growth in countries including China, India, and Japan. This opens up opportunities for various investment plans for the key players of fertilizer spreaders. In addition, shortage of human labor across Asia Pacific led to rise in demand for these products during the forecast period.

China to Witness Fastest Growth Credited to Adoption of Technological Advancement in Fertilizer Spreader

China is considered one of the major markets for fertilizer spreaders across the globe. China’s total acreage land increased by approximately 0.9% from 2018 to 2021. China is famous for agriculture with rich agricultural resources, and it is responsible for producing 29% of the world’s meat, and 18% of the world’s cereal grains. This is expected to increase the demand for such equipment among farm and agricultural applications across China.

North America is projected to witness the highest growth owing to rise in automation of farming equipment for around 20 years. Major players, such as Deere & Company, Adams Fertilizer Equipment, and Teagle Machinery Ltd, have presence in North America. These companies implement strategies to expand their product portfolio.

Europe is witnessing highest growth with a surge in product launches by improving the supply chain of the products. Shortage of labor and high usage of machines for farming are projected to fuel the growth of the market.

Latin America and the Middle East & Africa are estimated to have substantial growth due to rise in acceptance of mechanization in their farms, increasing the demand for agricultural machinery, and government provided subsidy programs, boosting the growth of the market.  

KEY INDUSTRY PLAYERS

Key Players Accentuate on Strategies to Improve Global Market Presence

Key players have adopted strategies such as product launches, partnership, acquisitions, and business expansion to improve the product portfolio of such products and improve the geographical location of manufacturers globally. Moreover, key players are more focused on adopting advancements in these products, such as autonomous systems and precision spreaders, which is expected to boost the growth of the market in the coming years.

Nicola LEMKEN and Julien BUREL are Adopting Partnership as a Key Strategy to Improve their Product Portfolio  

In November 2019, Nicola LEMKEN signed a partnership with SULKY Fertilizer Spreader, which deals in providing spreading equipment for fertilizers and agricultural equipment. The partnership aimed to provide these machines to various countries such as Germany, Austria, Poland, U.K., and Netherlands, and others.

In addition, availability of supply chain network and franchise network is anticipated to drive the growth of the market.

LIST OF KEY COMPANIES PROFILED:

• Deere & Company (U.S.)


• Kubota Corporation (Japan)


• Mahindra & Mahindra Ltd. (India)


• Agco Corporation (U.S.)


• CNH Industrial N.V. (Netherlands)


• Claas KGaA mbH (Germany)


• Bucher Industries AG (KUHN Group) (Switzerland)


• Adams Fertilizer Equipment (U.S.)


• Dalton AG Inc (U.S.)


• Teagle Machinery Ltd (U.K.)


• Bogballe A/S (Denmark)

KEY INDUSTRY DEVELOPMENTS:

• January 2019 - To make sustainable products more efficient and effective along with driving farm and environmental sustainability, KUHN Group adopted a business expansion strategy to open a new manufacturing facility in Russia for testing of such products. The business expansion was done by approximately USD 2.85 million.  


• June 2018 - Kubota Corporation announced the opening of a new research & development center in Europe with an investment of around USD 66 million. The new research and development center is dedicated toward the development of agricultural equipment and farm tractors.


• December 2020 - KRM launched ISOBus fertilizer spreader for farm and public garden applications. It came up with a belt feeding system. It is a tractor mounted spreading equipment with features, such as ISOBus control system, and spreads with up to 40 meters. It has hopper capacities ranging from 1,500 to 4,000 liters, which is made up of powder coated and stainless steel hoppers.


• March 2021 - Giltrap Engineers launched a new WideTrec fertilizer spreader with features such as cost-effective, automatic electronic systems, and easy to use. It is available with capacities of 4, 6, or 8 tons. It is a robust spreader with spreading rate of 40 to 5000 kg/hectors.


• January 2021 - Rauch Landmaschinenfabrik GmbH launched a pneumatic fertilizer spreader for three-point attachment. It uses centrifugal discs and distributes seeds or fertilizers using its rods. It has features such as ISOBus control and is easy to use. It has a hopper capacity of 1,900 liters to 3,200 liters.

REPORT COVERAGE

The research report focuses on leading regions across the globe to offer a better understanding to end-users. Moreover, the report offers insights into the industry dynamics and analyzes technologies utilized at a rapid pace across the world. It also displays some of the key factors and restraints to help the readers gain in-depth knowledge about the market.

Report Scope & Segmentation