New York, Feb. 23, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Fertilizing Machinery Global Market Report 2023" - https://www.reportlinker.com/p06282471/?utm_source=GNW
The global fertilizing machinery market will grow from $14.83 billion in 2022 to $16.22 billion in 2023 at a compound annual growth rate (CAGR) of 9.3%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, causing inflation across goods and services effecting many markets across the globe. The fertilizing machinery market is expected to grow to $22.22 billion in 2027 at a CAGR of 8.2%.
The fertilizing machinery market consists of sales of wheel hoe, cono weeder, self-propelled power weeder, fertilizer band placement cum earthing up machine, tractor operated fertilizer dibbler for ratoon sugarcane, and GPS based variable rate granular fertilizer applicator.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
Fertilizing machinery refer to solutions to crop farmers to sow the seeds for crop production and spread fertilizers.
The Asia Pacific was the largest region in the fertilizing machinery market in 2022.North America was the second largest region in the fertilizing machinery market.
The regions covered in the fertilizing machinery report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
The main product types of fertilizing machinery are fertilizer dryers, fertilizer screening machines, fertilizer crushers, fertilizer granulators, and fertilizer mixers.Fertilizer granulators refer to the machines used in fertilizer manufacturing factories.
They are suitable for making organic and compound fertilizer materials into specific fertilizers The disc types are single-disc fertilizer spreaders and double-disc fertilizer spreaders. The various applications involved are agriculture, forestry, greenbelt, and other applications.
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 2021-22, the overall estimated food grain production in India was 316.06 million tonnes. The total production of rice during 2021-22 was estimated to be 127.93 million tonnes. Furthermore, the total production of Nutri/coarse cereals was estimated at 49.86 million tonnes. 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 environment limit 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 2021, Sri Lanka’s president banned fertilizers and pesticides and ordered farmers to switch to organic farming immediately.In 2021, according to the National Academy of Sciences, 7 out of 10 agriculture-related deaths are caused by emissions from livestock waste and fertilizer applications.
Fertilizers consist of substances and chemicals like methane, carbon dioxide, ammonia, and nitrogen, the emission of which has contributed to a great extent to 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 the 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, greatly reduce operating time, reduce the cost of growers, and increase spraying accuracy.For instance, in 2021, Da-Jiang Innovations (DJI) launched DJI AGRAS T20, an agriculture drone with an upgraded spraying system.
The DJI AGRAS T20 can carry a maximum payload of 20kg, and the layout of the nozzles has been optimized to improve the uniformity of spray droplets by 20% and the spray width by seven meters. This improved form of system is designed for various applications, such as grassland reseeding, granular fertilizer spreading, and the spreading of feed for fish and shrimp
In October 2020, Escorts, an Indian multinational conglomerate that operates in the sectors of agricultural machinery, construction machinery, material handling, and railway equipment acquired a 40 % stake in Kubota agricultural machinery for an undisclosed amount. This acquisition will raise Kubota’s stake in the Indian company to 14.99% from 9.09%, Escorts. Kubota is an India-based agricultural machinery manufacturer.
The countries covered in the fertilizing machinery market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA.
The market value is defined as the revenues that enterprises gain from goods and/or services sold within the specified market and geography through sales, grants, or donations in terms of currency (in USD ($) unless otherwise specified).
The revenues for a specified geography are consumption values – that is, they are revenues generated by organizations in the specified geography within the specified market, irrespective of where they are produced. It does not include revenues from resales either further along the supply chain or as part of other products.
The fertilizing machinery market research report is one of a series of new reports that provides fertilizing machinery market statistics, including fertilizing machinery industry global market size, regional shares, competitors with a fertilizing machinery market share, detailed fertilizing machinery market segments, market trends and opportunities, and any further data you may need to thrive in the fertilizing machinery industry. This fertilizing machinery market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
Read the full report: https://www.reportlinker.com/p06282471/?utm_source=GNW
About Reportlinker
ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place.
__________________________
