Increasing farm mechanization to boost manure spreader market
November 27, 2017 by Technavio
November 27, 2017, London, UK – The global manure spreaders market is expected to grow at a compound annual growth rate (CAGR) of close to seven percent during the period 2017 to 2021, according to a new market research study by Technavio.
The report presents a comprehensive outlook of the global manure spreaders market by distribution channel (offline stores and online stores). The report also determines the geographic breakdown of the market in terms of detailed analysis and impact, which includes key geographies.
Improving farm mechanization is crucial because it facilitates timely, precise, and scientific farm operations, thereby increasing farm input and labor efficiency. Appropriate farm mechanization is necessary to achieve timeliness in field operations, increase productivity, cut down crop production cost, reduce post-harvest losses, and minimize farm drudgery. This also boosts crop output and farm income. The importance of mechanization for farm productivity is coupled with a rise in government support in terms of convenient policies and farm income.
Vendors are coming up with advanced features such as fully automated processes, homogenous distribution of manure, multi-language user interfaces, and many more, which are expected to improve the performance of the machines and earn high profit margins. Such factors will increase the demand and sales of manure spreaders.
“The launch of new manure spreaders can increase the use and sales of machinery in the coming years,” said Shikha Kaushik, a lead analyst at Technavio for agricultural equipment research. “The growing demand for advanced features, improved performance, and better capacity in machinery has contributed to the development of new machinery, which augurs well for the growth of the market.”
The global manure spreaders market is fragmented with the presence of many medium and large-sized competitors. The market is anticipated to experience a sizable rise in production capacity as competitors embrace advanced technological methods to produce manure spreaders. Many competitors are adopting several strategic activities to increase their visibility and production capacities. The increase in production capacity will allow the competitors to meet the growing demand for manure spreaders.
The Technavio report is available for purchase by clicking here.
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