Fertilizer spreader: Key market research findings
- Rising need for increased production yield drives market growth
- APAC dominates the market geographically
- Key vendors – AGCO, CLAAS, Kubota, KUHN, and Deere & Company
Technavio’s market research analysts predict the global fertilizer spreader market to grow at a CAGR of almost 7% between 2016 and 2020. The growing need to improve production yield is expected to drive the demand for fertilizer spreaders across the globe. Fertilizer spreaders are used to ensure that adequate quantities of fertilizer are being applied, thus, resulting in the elimination of fertilizer overuse. During 2015, APAC dominated the global fertilizer spreader market to by occupying almost 59% of the overall market space. The high demand for fertilizer spreaders in the region can be attributed to the presence of around 20% of the global agricultural land in this region. Factors such as limited arable land, soil degradation, and low farm yield coupled with an increase in market consolidation are expected to boost growth in the fertilizer spreader market in APAC during the forecast period.
The new market research report from Technavio presents a breakdown and analysis of the fertilizer spreader segments based on the form type.
“Recently, there has been an upsurge in the number of advanced product launches. Vendors in the market are focusing on the introduction of new models with improved features to improve efficiency and productivity. Intelligent speed monitoring systems to bolster spreading accuracy, extended spreading widths, and slow releasing fertilizer spreaders that help in accurate fertilizer application and maintenance of soil quality are some examples of improved features and products in the market currently,” says Brijesh Kumar Choubey, Lead Analyst, Consumer & Retail, Technavio Research.
By 2020, the trailed fertilizer spreader segment is expected to account for the majority of the market’s revenue by accounting for over 63% of the total market share. Trailed fertilizer spreaders are mainly used in medium and large-sized farms, where the fertilizer needs to be spread over large areas without creating a necessity for refilling. The need to cover large areas coupled with degrading soil quality will drive growth in the global trailed fertilizer spreader market in the coming years. Some popular brands of trailed fertilizer spreaders include Kurrajong, MAXI, AMAZONE, and KUHN.
The key vendors in the market include AGCO, CLAAS, Kubota, KUHN, and Deere & Company. This market is characterized by the presence of a limited number of established players. Vendors are making huge investments in research activities to offer improved quality and modified fertilizer spreaders. They are also focusing on the development of premium quality fertilizer spreaders, which help in the accurate application of fertilizers. The level of competition in the market is expected to intensify in the coming years due to the growth in strategic alliances and new product launches.
A more detailed analysis is available in the Technavio report, Global Fertilizer Spreader Market 2016-2020.
We can customize reports by other regions and specific segments upon request.
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