AGRICULTURE is a key pillar of the economies for several countries in Latin America and Asia Pacific.
Agricultural yield has been consistently increasing for the last few years. Manure plays an important role in the quality and production of crops. Consequently, the demand for manure spreading technology has been rising for the last few years. Manure spreaders are also called as muck spreaders, or honey wagons. They are employed for distributing manure, which works as a fertilizer, over the arable area.
A key driver of the manure spreader market is the lack of manpower. The workforce is shifting from rural areas to urban areas owing to globalization, which offers new job opportunities in mega cities, resulting in a lack of labor. A lack of workforce is fueling the demand for advanced agricultural equipment such as manure spreaders. Another major driver for the manure spreader market is government support. Governments across the globe are promoting advanced and efficient agricultural equipment and also providing subsidies in order to reduce the import of corn and other farm products. Farmers are focusing on developing smart farms, which directly contribute to the increasing demand for equipment such as manure spreaders.
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A major restraint to the manure spreader market is the significant cost, coupled with lack of awareness. The cost of the machine is considerably high, as the machinery is technologically advanced and consists of numerous components, owing to which every farmer cannot afford it. Additionally, numerous farmers are not aware about the machinery, which in turn hampers the manure spreader market.
Autonomous technology, continuous research and development, and consistently enlarging production are likely to offer numerous opportunities for the agricultural equipment.
The manure spreader market can be segmented based on prime mover, drive type, components, type, and geography. In terms of prime mover, the market can be classified into three segments. However, tractor-mounted manure spreaders are most commonly used, as farmers have easy access to a tractor. The tractor-mounted segment dominated the market in 2017, and it is expected to maintain its dominant position in the market during the forecast period.
In terms of drive type, the manure spreader market can be segregated into two segments. Power Take-Off (PTO) type of manure spreader is preferred by end-users, as it has a higher efficiency and is able to handle a larger volume of manure. The PTO type segment is expected to hold a major share of the market during the forecast period. Based on components, the manure spreader market is classified into four segments. The spreader and the transmission units are key components of the machine. These enable the machine to spread the manure at the desired speed and at the desired rate.
In terms of type, the manure spreader market is divided into two segments. The pull type manure spreaders are commonly used owing to their simplicity and ease of operation. Pull type of manure spreaders can be employed with different types of prime movers.
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Based on geography, the manure spreader market can be segmented into five prominent regions. Latin America and Asia Pacific witness a prominent demand for the manure spreader machines. Farmers in the U. S. frequently utilize manure spreaders owing to increased awareness. North America dominates the global market and accounts for a major share in terms of revenue.
Key players operating in the global manure spreader market include Eaton, Deere & Company, AGCO Corporation, CNH INDUSTRIAL N.V., Millcreek Manufacturing Inc., Salford BBI., CMI, EMB MFG Inc., and Degelman Industries Ltd.