Manure spreader market projected to reach $1.3B by 2031: Report
May 9, 2023 by Bree Rody
A report by global market research firm Transparency Market Research predicts that the global manure spreader market will cross the billion-dollar mark for total valuation in in the next decade.
The global manure spreader market was valued at just under $1B in 2022, at USD $980 million. By 2031, it is projected to reach $1.3 billion. The current growth is driven by a consistent increase in adoption of manure spreading equipment in developed countries and the development and production of new agricultural equipment. This includes advanced designs in side-discharge and rear-discharge spreaders, as well as manure spreaders with integrated industrial IoT.
Additional opportunities identified include government subsidies to farmers for the adoption of new equipment, although high investment and market fluctuations are highlighted as possible restrictions.
Three-axel machines are expected to take the lion’s share of sales, followed closely by two-axel machines. The North American market will continue to dominate, with Europe and APAC close behind.