Global Mechanized Irrigation Systems Market: Snapshot
World’s population is escalating, estimated to reach nine billion by 2050, which would mean the current production of food crop should double in quantity. With depleting arable land, the demand for methods that increase the production capacity of farms is increasing, which in turn is reflecting positively on the global mechanized irrigation systems market. This report projects the demand in the global mechanized irrigation systems market to increment at a robust CAGR of 14.9% during the forecast period of 2016 to 2024. Some of the key factors driving this market are: higher returns on investment in comparison to alternatives, efficiency in usage of water resources, especially in the drought-prone areas, growing government support in the emerging economies, and outreach of new technologies in the developing nations. On the other hand, high initial investment and consistent requirement of maintenance are two important restraints faced by the global mechanized irrigation systems market.
As per the evaluation of the report, the global mechanized irrigation systems market was worth US$10.0 bn in 2015, and estimates it to swell to a worth of US$35.0 bn by the end of 2015. As mechanized irrigation systems are adaptable to diverse conditions of crop, weather, soil type, and field conditions, the vendors operating in this market are expected to gain ample of opportunities in all regions across the globe.
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Center Pivot Irrigation Systems Most Profitable Segment
Based on product type, the global mechanized irrigation systems market is segmented into center pivot irrigation and lateral move irrigation, with the former segment accounting for more than two-third of the demand in 2015. Since the choice of mechanized irrigation systems depends on physical location of the arable land, overall investment, source of water supply, and weather conditions, pivot irrigation are seen to be more adaptable than later move irrigation and is anticipated to stay as the most profitable throughout the forecast period.
Application-wise, the report categorizes the global mechanized irrigation systems market into land application of wastes, agricultural crops, laws and gardens, and nursery crops. In 2015, agricultural crops category accounted for about 68% of the demand, gaining traction from growing food demand and increased focus by developed and emerging economies to minimum usage of water.
North America Serving Maximum Demand
Across all major regions explored by this report, including North America, South and Central America, Europe, Asia Pacific, and the Middle East and Africa, North America accounted for the maximum, 34% of the demand in 2015. This substantial demand was primarily caused by the developed countries of the U.S. and Canada. Some of the states in the U.S., such as Montana, California, Idaho, Colorado, and Arkansas have total irrigated acres and surface water withdrawals, whereas states such as Texas, Oklahoma, Kansas, South Dakota, and Nebraska use groundwater as their primary source of water.
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The global mechanized irrigation systems market is fragmented, with most of the major players actively looking for mergers and acquisitions of promising new entrants. Some of the key companies operating in the global mechanized irrigation systems market, that have been profiled in this report, are EPC Industries Limited, Driptech India Pvt. Ltd., Jain Irrigation Systems Limited, HUNTER INDUSTRIES, Lindsay Corporation, Rain Bird Corporation, Reinke Manufacturing Company, Inc., Netafim Limited, The Toro Company, Nelson Irrigation Corporation, Premier Irrigation Adritec, Rivulis Irrigation, T-L Irrigation, and Valmont Industries.
Mechanized Irrigation Systems Market to Witness Notable Growth Owing to Increasing Innovations in Cultivation Methods
The increasing population and the rising need for food products have propelled the need for agricultural production. The rising demand for food crops worldwide is a prime factor augmenting the growth of the global mechanized irrigation systems market. With draining arable land, the interest for techniques that increment the creation limit of homesteads is expanding, which thus is thinking about decidedly the worldwide mechanized irrigation systems market. A portion of the key components driving this market are: more significant yields on interest in contrast with options, proficiency in utilization of water assets, particularly in the dry season inclined territories, developing government support in the arising economies, and effort of new advancements in the agricultural countries. Then again, high introductory speculation and reliable necessity of support are two significant limitations looked by the worldwide mechanized irrigation systems market.
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The need to reexamine uneconomical irrigation systems and low farming creation to improve crop productivity has been anticipated to be one of the imperative factors redesigning the mechanized irrigation systems market. Cultivation could expect an immense occupation in firmly influencing the monetary headway of a country. Different mechanized irrigation systems are used in agribusiness for applications like watering crops. Impact sprinklers, equal move systems, moving water spouts, central pivot systems, and sprinklers are a segment of the essential watering systems busy with green activities. High selection of these systems is driving development of the worldwide mechanized irrigation systems market.
The interest in mechanized irrigation systems has been expected to get power because of the decrease in resource costs. Appropriately, mechanized irrigation systems could be extraordinarily embraced for an extent of usage including domain and advancement, other than cultivating. Negligible exertion of irrigation sought after by improved productivity, government theories and progressions, and rising care about the benefits of using mechanized irrigation systems in developing could be among strong advancement segments of the market.
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