"Catapult Your Business to Fore, Gain Competitive Advantage "
The global fertilizer spreader market size was valued at USD 757.1 million in 2023. The market is projected to grow from USD 792.8 million in 2024 and reach USD 1,172.4 million by 2032, exhibiting a CAGR of 5.0% during the forecast period.
A fertilizer spreader is a commonly used agricultural tool for spreading and distributing fertilizers, seeds, ice melt, lime, sand and other materials. Fertilizer spreaders adjust different application rates depending on the spreading material used. Generally, this is a compound made of dry, pelletized, free-flowing material that requires a constant application rate. It is an alternative to agricultural seed drills. Spreaders are used to spread fertilizer and lawn seed evenly across the lawn.
The demand for improved quality crop production has increased the demand for fertilizer spreaders. As the amount of land available for agriculture continues to decline, numerous technologies are being developed and deployed to increase farm yields and production, including autonomous systems and precision agriculture. Additionally, the demand for higher-quality crop production has led farmers to choose potassium and phosphorous fertilizers. This has increased the market demand and push industry expansion over the coming years.
With increase in population, the 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 shortages for various farm operations over the past five years, which led to a rise in the 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.
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 significant growth.
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 a 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.
Request a Free sample to learn more about this report.
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.
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.
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.
To know how our report can help streamline your business, Speak to Analyst
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.
The global market is studied across Europe, North America, Latin America, Asia Pacific, and the Middle East & Africa.
Asia Pacific Fertilizer Spreader Market Size, 2023 (USD Million)
To get more information on the regional analysis of this market, Request a Free sample
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.
To know how our report can help streamline your business, Speak to Analyst
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 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.
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.
To gain extensive insights into the market, Request for Customization
ATTRIBUTE | DETAILS |
Study Period | 2019 – 2032 |
Base Year | 2023 |
Estimated Year | 2024 |
Forecast Period | 2024 – 2032 |
Historical Period | 2019 – 2022 |
Growth Rate | CAGR of 5.0% over 2024 to 2032 |
Unit | Value (USD Million) |
Segmentation | By Type
By Application
By Region
|
Fortune Business Insights says that the market stood at USD 757.1 million in 2023.
Fortune Business Insights says that the market will reach USD 1,172.4 million by 2032.
Registering a CAGR of 5.0%, the market will exhibit strong growth during the forecast period.
Increased government initiatives and attractive financing are expected to drive the market growth.
Deere & Company, CNH Industrial N.V. (New Holland), Kubota Corporation, and Mahindra & Mahindra Ltd. are the top companies in the market.
The broadcast spreader segment is expected to capture the highest CAGR in the market.
The farm segment is expected to capture the highest CAGR in the market.
Europe is expected to capture the highest CAGR over the forecast period in the market.
Growing urbanization activities across the globe are restraining the growth of the market.
US +1 833 909 2966 ( Toll Free )