Fertilizer applicator is an equipment or tool used for application of fertilizers in agricultural fields, commercial, and residential lawns/gardens. Fertilizer applicators are of various types: handheld/push, pull type, and equipment mounted type. Fertilizer applicators are available in different shapes and sizes based on application. Small size fertilizer applicators are available for residential and commercial lawn use. The size may vary from small to large sized fertilizer applicators used in large agricultural fields. Use of fertilizers is growing rapidly in large agricultural fields, which is anticipated to drive the demand for fertilizer applicators during the forecast period.
Europe holds maximum share in the fertilizer applicator market globally, followed by North America and Asia Pacific.
Europe and North America are mature markets for fertilizer applicators. Increasing demand for technologically advance fertilizer applicators in Europe is anticipated to boost the fertilizer applicator market in the coming years. France and Germany are significant fertilizer applicator markets in Europe. Companies operating in the market mainly focus on offering technologically upgraded products to deal with the competition and maintain their customer base.
North America is the second largest market for fertilizer applicators across the globe. Key manufacturers in the U.S. such as AGCO Corporation and Deere & Company specialize in manufacturing fertilizer applicators.
The Asia Pacific fertilizer applicator market is projected to expand at the highest CAGR during the forecast period. Demand for fertilizer applicators is expected to increase rapidly during the forecast period due to increasing government support to farmers in buying agricultural equipment and machineries that have high one-time cost. Increased funding and subsidies on fertilizer applicators is likely to drive the fertilizer applicator market growth during the forecast period.
New developments in fertilizer applicators have been introduced with innovation in technology. Efficient and large capacity fertilizer applicators are being developed for ease of operations in agricultural fields. Competitive pricing with product differentiation has been observed in the fertilizer applicators marketplace. Increasing number of manufacturers from China and India are pushing the competition in the market. New designs and shapes of fertilizer applicators are being developed for improved operations.
One of the finest trends in farming technology today is precision agriculture technology. From yield monitors to rate controllers to autopilot features, these new advances are helping farmers maximize yield and improve efficiency. Precise application of fertilizer, water, and chemicals means less input cost and less waste.
Replacement of human labor and modernization of agricultural industry in developing as well as developed regions is accelerating the growth of fertilizer applicators worldwide.
Need for high output from limited fertile land is projected to push application of new technologies in agricultural industry. Growing mechanization in the agriculture sector is anticipated to boost growth in research and development for ease of agricultural operations and rise in its output.
However, high cost is always a challenge in the agricultural machinery and equipment market. Product innovations and developments in fertilizer applicators entail additional cost of research and development. Therefore, the advanced and newly developed fertilizer applicators are costlier than the conventional and older ones. This is anticipated to be a restraining factor for the market growth of fertilizer applicators.
The global fertilizer applicator market has been segmented based on product, type, fertilizer, application, and region.
Product - In terms of product, the global fertilizer applicator market has been classified into broadcast fertilizer applicator and drop fertilizer applicator.
Type - Based on type, the global fertilizer applicator market has been segmented into handheld/push, pull type, and equipment mounted.
Fertilizer - In terms of fertilizer, the market has been bifurcated into dry fertilizer and liquid fertilizer.
Application - The market has been bifurcated into agricultural, commercial, and residential based on application.
Region - Based on region, the market is classified into North America (U.S, Canada, and Rest of North America), Europe (U.K, Italy, France, Germany, and Rest of Europe), Asia Pacific (India, China, Japan, and Rest of Asia Pacific), Middle East & Africa (GCC, South Africa, and Rest of Middle East & Africa), and South America (Brazil, and Rest of South America)
The fertilizer applicator market is fragmented due to the presence of numerous established and local players. Rivalry among manufacturers is expected to increase in the coming years due to technologically advanced products offered by both established and local players.
Key companies profiled in the fertilizer applicator research report include AGCO Corporation, Deere & Company, AMAZONEN-WERKE H. Dreyer GmbH & Co. KG, Great Plains Manufacturing, Inc, Salford Group, Inc., New Leader Manufacturing, FAST AG Solutions, Kennco Manufacturing, Inc., Dalton Ag Products, Kongskilde Agriculture, Rolland Trailers, and The Scotts Company LLC.