Sprinkler Irrigation Systems Market Will Reach Nearly USD 2.89
The global sprinkler irrigation systems market size is expected to reach USD 2.89 Billion by 2028 and register a CAGR of 2.2%, according to the latest report by Reports and Data. Some factors fueling global market revenue growth are constant demand for food and crops among a rapidly expanding global population.
Sprinkler irrigation is a technique that enables more efficient water usage to irrigate and cultivate crops and these systems can be deployed in application areas ranging from small scale to large scale farms. This method is highly preferred by majority of farmers owing to its effectiveness and easy application. Factors such as technological advancements, high application efficiency, and low labor costs are surging demand for sprinkler irrigation systems. Moreover, these irrigation systems are widely used to spray fertilizers and chemicals in farms.
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Government initiatives to support adoption of sprinkler irrigation systems in regions and countries with acute water shortages and related challenges and rising investments by major players in the market players for research and development to expand their product lines are some other factors augmenting revenue growth of the market. Moreover, many private and public organizations and bodies are supporting and assisting small-scale farmers in using sprinkler systems for their farms, and this is expected to open up some lucrative opportunities for players in the market going ahead.
Despite robust growth of the global market, factors such as high costs for installing these systems and low awareness and knowledge about functioning and advantages in the long term are expected to limit market growth to a certain extent during the forecast period.
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Some key highlights from the report:
• Based on type, the oilseed & pulses segment is expected to register fastest revenue CAGR throughout the forecast period owing to need for low labor or workforce and more judicious utilization of water, and steady demand for different types of oilseeds and pulses.
• On the basis of mobility, the stationary segment is expected to account for major revenue growth during the forecast period owing to low maintenance costs and high installation rates in various sized fields.
• Based on type, the solid set segment is projected to register significant revenue growth during the forecast period due to comparative easy operations and growing demand for irritating small fields, forages, and gardens, especially in developing economies.
• North America accounted for largest revenue share in the global market in 2020 and is expected to continue its dominance during the forecast period owing to availability of large arable land and presence of well-established market players.
• Asia Pacific market is expected to register fastest revenue CAGR of 1.6% during the forecast period owing to favorable government initiatives to support modern irritation techniques and increasing demand for crops among growing populations in countries in the region.
• Valmont Industries (US), Lindsay Corporation (US), Jain Irrigation Systems Ltd. (India), The Toro Company (US), Rivulis Irrigation Ltd. (Israel), Netafim Limited (Israel), Rain Bird Corporation (US), TL Irrigation (US), Reinke Manufacturing Co., Inc. (US), Nelson Irrigation Corporation (US), Hunter Industries (US), Mahindra EPC Ltd . (India), Alkhorayef Group (Saudi Arabia), Elgo Irrigation Ltd. (Israel), Antelco Pty Ltd. (Australia), and Irritec SpA (Italy) are some major players in the sprinkler irrigation systems market.
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For this study, Reports and Data has segmented the global sprinkler irrigation systems market based on type, crop type, field size, mobility, and region:
Based On Type: (Revenue, USD Billion, 2018 – 2028)
• Center Pivot Irrigation Systems
• Lateral Move Irrigation Systems
• Solid Set Sprinkler Systems
Based On Crop Type: (Revenue, USD Billion, 2018 – 2028)
• Oilseeds & Pulses
• Fruits & Vegetables
Based on Field Size: (Revenue, USD Billion, 2018 – 2028)
• Small fields
• Medium sized
• Large Fields
Based on Mobility (Revenue, USD Billion, 2018 – 2028)
Based On Region: (Volume, Kilotons; Revenue, USD Billion, 2018 – 2028)
• North America
o Rest of Europe
• Asia Pacific
o South Korea
o Rest of APAC
• Latin America
o Rest of LATAM
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of MEA
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