Fertilizing And Plant Protection Equipment Global Market Report 2023

Reportlinker.com has just announced the publication of the report titled "Fertilizing And Plant Protection Equipment Global Market Report 2023." The report provides comprehensive insights into the global market for fertilizing and plant protection equipment. It can be accessed at the following link: https://www.reportlinker.com/p06479935/?utm_source=GNW The companies highlighted in the report are Farmers Edge Inc., Geosys Holdings ULC, Granular Inc., Gro Intelligence Inc., and Proagrica.

The global market for fertilizing and plant protection equipment is projected to increase from $66.83 billion in 2022 to $71.76 billion in 2023, with a compound annual growth rate (CAGR) of 7.4%. The conflict between Russia and Ukraine has hindered global economic recovery from the COVID-19 pandemic, at least in the short term. This war has resulted in economic sanctions on several countries, a rise in commodity prices, and disruptions in supply chains, leading to inflation in various goods and services and impacting markets worldwide. The fertilizing and plant protection equipment market is anticipated to reach $91.48 billion in 2027, with a CAGR of 6.3%.

The market for equipment used for fertilizing and protecting plants includes the sale of various tools such as sprayers for orchards, boom sprayers mounted on tractors, and pomegranate spraying systems based on ultrasonic sensors. The values in this market represent the prices at which the goods are sold by the manufacturers or creators, whether it is to other businesses in the supply chain (including manufacturers, wholesalers, distributors, and retailers) or directly to the final consumers.

The worth of products in this industry encompasses the associated services provided by the manufacturers of said products.

Fertilization and plant safeguarding machinery pertain to devices utilized for safeguarding crops against pests and weeds, as well as shielding them from diseases. These machines serve to enhance the nutritional content of the soil and shield the crops from harmful creatures.

In 2022, the biggest area in the market for fertilizing and plant protection equipment was Asia-Pacific. The report on this equipment covers various regions such as Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

The primary types of equipment used for fertilizing and safeguarding plants are planting machinery and fertilizing machinery. Planting machinery encompasses all the mechanical tools employed in agricultural activities.

There are also additional varieties of products such as misters, manually operated mist sprayers, powered mist sprayers, long-reach mist sprayers, air-powered mist sprayers, airborne mist sprayers, powder dispensers, and various tools utilized in gardening, agriculture, and related fields.

The rise in worldwide food consumption and population is anticipated to drive the expansion of fertilizing and plant safeguarding machinery in the future. Global food consumption pertains to the overall quantity of food and energy consumed by individuals.

The use of equipment for fertilizing and protecting plants is essential for increasing crop yield and safeguarding them from harm. According to the United Nations Conference on Trade and Development, an intergovernmental organization based in Switzerland, the global population grew by 0.9% in 2021 and is expected to exceed 8 billion in 2022. Additionally, the United States Department of Agriculture reported that US food production reached 182.7 million hundredweight in May 2022, with a projected 10% increase in imports to a record-breaking 38.0 million hundredweight in 2022. As a result, the rising demand for food and the growing population worldwide will contribute to the growth of the fertilizing and plant protection equipment market.

The fertilizing and plant protection equipment market is witnessing a rising trend towards technological advancements. Leading companies in this industry are focusing on creating novel agricultural technologies to enhance their market position.

As an example, during October 2021, Greeneye Technology, a company from Israel that specializes in agricultural advancements and the protection of crops, introduced a one-of-a-kind precision spraying technology empowered by artificial intelligence. This advanced system is capable of effectively identifying and targeting weeds, resulting in a more precise and efficient spraying process. By doing so, it aids in minimizing the reliance on chemicals in agriculture, while also enhancing farmers' overall yield and profitability.

The precision spraying technology utilized in this design guarantees accurate application of sprays even when traveling at a speed of 20 km/h, which is the typical speed of broadcast spraying. This remarkable feature ensures that farmers can maintain their productivity levels without any compromises.

In July 2022, CNH Industrial, a United Kingdom-based company that specializes in manufacturing machinery for agriculture, purchased Specialty Enterprises LLC. The specific amount of money spent on the acquisition was not disclosed. By acquiring Specialty Enterprises LLC, CNH Industrial aims to enhance its internal capabilities and expedite the progress and implementation of innovative technologies.

Specialty Enterprises LLC is an agricultural spray boom and sprayer boom accessory producer situated in the United States.

The nations analyzed in the market report on fertilizing and plant protection equipment consist of Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the United Kingdom, and the United States of America.

The market worth refers to the earnings that businesses generate by selling products and/or services in a particular market and location through sales, grants, or donations, measured in terms of currency (usually USD).

The sales generated within a particular area refer to the amounts of money earned by companies in that specific area, regardless of where the products are made. This excludes any income obtained from reselling products at different stages of the distribution process or as components of other goods.

The market research report on fertilizing and plant protection equipment is part of a series of new reports that provide industry statistics, including the global market size, regional shares, competitors' market share, detailed market segments, trends, opportunities, and other relevant data to help you succeed in the fertilizing and plant protection equipment industry. This research report provides a comprehensive overview of the industry's current and future scenario. Check out the full report here: https://www.reportlinker.com/p06479935/?utm_source=GNW

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