Wet fertilizer spreaders are equipment used extensively to spread and distribute fertilizer and other wet materials. Fertilizer spreaders are an alternative to the farm seeder equipment. The increase in demand for a crop with improved quality is a key motivating factor of wet fertilizer spreaders market. Moreover, the ever-increasing credit facility for farmers and growing concern about food security is driving the global wet fertilizer spreaders market.
The incessant decline in the availability of land for agriculture has led the adoption and development of numerous technologies such as autonomous and precision agriculture system, which increased farms output.
Furthermore, subsidies offered on agriculture equipment by government bodies anticipated to boost the quality of crop production and agricultural yield. This improved quality demand for crop production has encouraged farmers to opt for phosphorous and potassium fertilizers. This is estimated to increase the demand for fertilizer spreader, which in turn is likely to drive the market.
Majority of farmers are shifting their occupations and moving in urban areas to work in different industries. This reducing workforce availability in farming, in turn, hamper the demand for wet fertilizer spreaders market.
The ongoing crisis of COVID-19 has already hit the global economy harder than the great recession of 2008. The plunge of pandemic seems to be on similar lines or more verse when the fall was about -1%. Thus, the wet fertilizer spreaders market is expected to fall below the previous fiscal year. According to the International Monetary Fund, the global economy is expected to fall below -3% subsequently affecting all the international trades.
This is expected to negatively impact the wet fertilizer spreaders market. However, the impact of this pandemic on wet fertilizer Spreaders market is expected to recover slowly and witnessing U-shape recovery.
The global wet fertilizer spreaders market has been divided into five key geographical regions which include, North America, Latin America, Europe, Asia Pacific and Middle East & Africa.
The developed region such as North America and Europe is expected to lead the global wet fertilizer spreaders market. On the country level, US, Hungry, Denmark and some other countries are shows an increase in the adoption of agricultural technology. Moreover, the region has high per capita income, thus most farmers adopting advanced technologies.
This is anticipated to increase the demand for wet fertilizer spreaders in the North America and Europe region.The Asia Pacific expected to dominate the wet fertilizer spreaders market followed by North America and Europe
On the country level, India and China expected to drive the wet fertilizer spreaders market. Latin America also shows increasing use of wet fertilizer spreaders. The Middle East and Africa show comparatively less growth wet fertilizer spreaders market.
The prominent players involved in the wet fertilizer spreaders market are focusing on the development in the agricultural equipment and farming tractors. For instance, in July 2018, Kubota Corporation announced the establishment of a new R&D centre in Europe with an investment of ~US$ 66 Mn.
The new R&D centre of Europe is keen toward the development of farming tractors and agricultural equipment. The strategy is expected to boost the Kubota growth and enable the company to offer products as per the requirement of farmers in Europe, in the near future.
Some key players involved in the wet fertilizer spreaders market include
The research report presents a comprehensive assessment of the wet fertilizer spreaders market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to wet fertilizer spreaders market segments such as application, components and sales channel.
The market report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain.
The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various factors on wet fertilizer spreaders market segments and geographies.
Globally, the wet fertilizer spreaders market can be segmented on the basis of application, components and sales channel
Application
Components
Sales Channel
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Wet Fertilizer Spreaders Market
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