Technological advances in fertilizer applicators are gaining traction in the market as increasing number of market players are using technologies including air boom technology and the use of sensors for improving the applications.
Subsidies on fertilizer applicators
With the aid government's increasing support to the farmers in buying fertilizer applicators with high one-time cost, the demand for this agricultural equipment has increased considerably in the recent years. Subsidies on fertilizer applicators and increased funding for the same is likely to proliferate the fertilizer applicators' market's growth during the forecast period.
Lack of awareness in rural areas
Owing to the absence of proper strategies for promoting new fertilizer spreaders with latest technologies and lack of knowledge on how to operate this equipment, the demand for fertilizer applicators is likely to hamper during the next few years.
The fertilizer applicators market is expected to witness intense competition owing to the fragmented presence of several players. The market participants are increasingly focusing on improving their product offerings by leveraging several supporting initiatives taken by the governments from both emerging and advanced economies. This report offers analysis on the different strategic moves opted by the market players to improve their shares in the market.
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