Center Pivot Irrigation Systems Market By Crop Type, Field Size, & By Region – Global Industry Analysis, Size, Share, Growth, Trends, And Forecasts (2018–2023)
HYDERABAD, TELANGANA, INDIA, July 25, 2018 /EINPresswire.com/ — Market introduction:
Center Pivot water systems allow irrigation in a circular pattern around a settled rotation point. These water systems offer high productivity and are extensively helpful for the large agricultural areas and commercial gardens. Most importantly, the Center Pivot water system offers better water proficiency of more than 90% compared to the regular water system strategies. The market for center pivot water system is significantly determined by the rising selection of computerization and automation in the general horticulture division around the world.
Center Pivot Irrigation Systems Market as per the report of Market Data Forecast is estimated to be growing at a CAGR of 15.1% to reach $2814.23 million by 2023 from the current value of $1393.1 million.
Market trends and enablers:
The United States Census Bureau assessment in 2016 demonstrates that there are roughly 7,346,235,000 people on earth as of August 23, 2016, which far surpasses the 7.2 billion from 2015. As per the report, one human birth takes place in the interval of 7 seconds and one death at a regular interval of 13 seconds, with a result of one individual on earth for every 11 seconds. With such a fast rate of population increase, there is an increasing demand for food that meets the need of the alarming population growth.
The worldwide market is expected to show noteworthy development in the upcoming years. Key variables pushing the development of the market incorporate the proficient administration of water during the time of drought, technical enhancements in the irrigation system, increasing return on investments, conversion of barren lands for agriculture, need for increased food production, precise water supply without wastage of water and few others.
However, the high cost of setting up the system and the lack of understanding about the benefits of such irrigation system among the farmers are expected to have a negative impact on the market expansion.
The worldwide center pivot irrigation system is segmented on the basis of field types, crop types, mobility, and components. The large fields segment of the field type accounts for the dominant share of market revenue owing to the increase in returns, high productivity, and the cheaper maintenance. Cereals in the crop type of irrigation system hold the major portion of market attributing to its use in biofuels and animal supplements followed by oilseeds and pulses. The hassle-free use of stationary systems in the field resulted in their higher market contribution in the mobility segment of center pivot irrigation systems.
The global center pivot irrigation systems Market is geographically studied in the regions of Europe, Latin America, Asia Pacific, North America and the Middle East and Africa. North America dominates the world markets with the United States playing a vital role in the adoption of this irrigation system for better crop production in both quality and quantity volumes. The market in this region is almost saturated providing more growth opportunities to other regions. Europe is the second largest market with increasing concentration on the agriculture and horticulture. The Asia Pacific regions are experiencing a tremendous growth in population asking for more quantities of food. This need for an increase in production will drive the expansion of the center pivot irrigation systems market in the emerging nations of the Asia Pacific.
The center pivot irrigation systems market is dominated by few companies and the majority of them are located in the region of North America. Some of those companies are T-L Irrigation Company, Netafim Limited, RoEhren- Und Pumpenwerk, Lindsay Corporation, Valmont Industries, Alkhorayef Group, Reinke Manufacturing Company Inc., Grupo Fockink, Vodar (Tianjin) Co. Ltd, Pierce Corporation Ltd., Bauer GmbH, Rainfine (Dalian) Irrigation Co., and others.
The key players in the market are investing money to enhance the technological features of this irrigation system and also to provide convenient purchase options with cost-efficiency.
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Source: EIN Presswire