DUBLIN--(BUSINESS WIRE)--The "Fertilizing Machinery Global Market Report 2021: COVID-19 Impact and Recovery to 2030" report has been added to ResearchAndMarkets.com's offering.
This report provides strategists, marketers and senior management with the critical information they need to assess the global fertilizing machinery market as it emerges from the COVID-19 shut down.
The global fertilizing machinery market is expected to grow from $13.03 billion in 2020 to $13.18 billion in 2021 at a compound annual growth rate (CAGR) of 1.2%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $13.28 billion in 2025 at a CAGR of 0.2%.
Companies Mentioned
- Deere & Company
- Kuhn Group
- AGCO Corporation
- Kubota Corporation
- Lanco Equipment
- CNH Industrial
- Mahindra Tractors
- Simonsen Industries
- Crump Spreaders Australia
- Gason
- Salford Group
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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.
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.
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.
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.
For more information about this report visit https://www.researchandmarkets.com/r/oon6pk
