Fertilizing Machinery Market:
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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%.
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.
North America was the largest region in the fertilizing machinery market in 2019.
In September 2018, Deere & Company, a US-based manufacturer of farm machinery, announced the acquisition of PLA for an undisclosed amount. With the acquisition of PLA, Deere & Company plans to purchase the PLA’s sprayers, planters, and specialty products for agriculture. PLA is an Argentina-based manufacturer of sprayers and specialty equipment for agriculture.
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The fertilizing machinery market covered in this report is segmented by product type into fertilizer dryers; fertilizer screening machines; fertilizer crushers; fertilizer granulators; fertilizer mixers. It is also segmented by disc type into single disc fertilizer spreaders; double disc fertilizer spreaders and by application into agriculture; forestry; greenbelt; other.
The restrictions laid on the use of fertilizers due to their impact on the environmental limits the growth of the fertilizing machinery market. The overuse of fertilizers can infect both the farm produce as well as the topsoil. For instance, in 2019, the Federal Government of Nigeria announced plans to slowly phase out the use of fertilizers in agriculture. According to a study published in Nature Sustainability in 2019, in the US, fertilizer has also contributed to air pollution near the corn belts areas that led to 4,300 premature deaths in the regions. Fertilizers consist of substances and chemicals like methane, carbon dioxide, ammonia, and nitrogen, the emission of which has contributed to a great extent in the number of greenhouse gases present in the environment, thereby, leading to global warming and weather changes. Therefore, imposing a ban on fertilizers to protect the environment restrains 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. For instance, in 2019, Da-Jiang Innovations (DJI) launched Agras T16, which is a spray drone to apply fertilizers and pesticides to field crops and orchards. The Agras T16 has an advanced overall structure with modular design and supports the loftiest payload and widest spray width ever in a DJI agricultural drone. With significant hardware, an AI engine, and 3D-operation planning, the T16 has a significantly improved operational efficiency. The fertilizing machinery sector is particularly embracing drones to improve efficiency and help increase crop production.
High demand for food crops across the globe is expected to contribute to the growth of the fertilizing machinery market. The expanding agriculture sector is driving the need for fertilizer machines for improving crop growth. According to the Second Advance Estimates for 2019-20, the overall estimated food grain production in India was 291.95 million tons, which has improved by 6.74 million tons in comparison with that of 285.21 million tons during 2018-19. The total production of rice during 2019-20 was estimated to be 117.47 million tons. Furthermore, the total production of nutri/coarse cereals was estimated at 45.24 million tons, which is higher by 2.18 million tons when compared with 43.06 million tons during 2018-19. The rising demand for high yield food crops to meet the global food demand is inducing the growth of the fertilizing machinery market.
Major players in the fertilizing machinery market are Deere & Company, Kuhn Group, AGCO Corporation, Kubota Corporation, Lanco Equipment, CNH Industrial, Mahindra Tractors, Simonsen Industries, Crump Spreaders Australia and Gason.
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