The Fertilizing And Plant Protection Equipment Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Fertilizing And Plant Protection Equipment Global Market Report 2024, The fertilizing and plant protection equipment market size has grown strongly in recent years. It will grow from $71.76 billion in 2023 to $76.79 billion in 2024 at a compound annual growth rate (CAGR) of 7.0%. The growth in the historic period can be attributed to rise in commercial farming, government subsidies and policies, environmental concerns, precision agriculture adoption, chemical pesticide regulation..
The fertilizing and plant protection equipment market size is expected to see strong growth in the next few years. It will grow to $97.81 billion in 2028 at a compound annual growth rate (CAGR) of 6.2%. The growth in the forecast period can be attributed to shift towards sustainable agriculture, precision agriculture growth, regulatory changes in pesticides, increasing adoption of organic farming, automation and ai integration.. Major trends in the forecast period include emergence of smart sensors, remote monitoring and control, efficiency in application techniques, advanced biological pest control, demand for customization..
Inclination in global food consumption and population is expected to propel the growth of fertilizing and plant protection equipment going forward. The global food consumption refers to the total amount of food and calories that are consumed by people. Fertilizing and plant protection equipment are used for plant protection and enhancing the yield of crops. For instance, according to the United Nations Conference on Trade and Development, a Switzerland-based intergovernmental organization, the world population grew by 0.9% in 2021 and is expected to surpass 8 billion in 2022. Furthermore, in May 2022, the United States Department of Agriculture, a US-based federal executive department, the US food production reached 182.7 million hundredweight with an increase in imports by 10% projected at a record 38.0 million hundredweight in 2022. Therefore, the inclination in global food consumption and population will drive the fertilizing and plant protection equipment market.
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The fertilizing and plant protection equipment market covered in this report is segmented –
1) By Type: Planting Machinery, Fertilizing Machinery
2) By Product Type: Sprayers, Hand Operated Sprayers, Motorized Sprayers, Boom Sprayers, Airblast Sprayers, Aerial Sprayers, Dusters, Other Types
3) By Application: Horticulture, Farm, Other Applications
Technological advancements are a key trend gaining popularity in the fertilizing and plant protection equipment market. Major companies in the fertilizing and plant protection equipment market are developing new and innovative agricultural technologies to strengthen their position in the market. For instance, in October 2021, Greeneye Technology, an Israel-based agriculture and crop protection technology company, launched a unique AI-enabled precision spraying technology. This technology can detect and spray weeds accurately, help reduce chemical usage in agriculture, and increase productivity and profitability for farmers. It is uniquely designed with precision spraying technology that ensures precision spraying at the travel speed of broadcast spraying – 20 km/h with no reduction in productivity for farmers.
The fertilizing and plant protection equipment market report table of contents includes:
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