Center Pivot Irrigation Systems Market To Cross The US$ 2.5 Bn Mark By 2023
According to a new market research report published by Credence Research “Center Pivot Irrigation Systems Market (Component: Drive Trains, Spans, Pivot Points, Sprinkler System, Control Panel, Fittings & Pump Units) - Growth, Share, Opportunities, Competitive Analysis and Forecast 2016 - 2023”,the global center pivot irrigation systems market stood at US$1,028.3Mn in 2015and is estimated to expand with a CAGR of 13.0% from 2016 to 2023.
The complete report is available at http://www.credenceresearch.com/report/center-pivot-irrigation-systems-market
Market Insights
Center pivot irrigation, also called circular irrigation or waterwheel,refer to irrigation system comprising various mechanical components such as trusses, spans, towers, drivetrains and others. These systems provide irrigation in a circular pattern rotating around a fixed pivot point. These irrigation systems offer high efficiency and are highly suitable in large landscapes. The market for center pivot irrigation systems is majorlydriven by the rising adoption of automation and mechanization in the overall agriculture sector worldwide. In addition, center pivot irrigation systems offer superior water efficiency of upto 90% over conventional irrigation techniques such as sprinkler systems and surface irrigation.
Although drip irrigation is another highly efficient irrigation technique, installing the same across large landscapes/fields becomes a difficult task in terms of cost and maintenance. Center pivot irrigation is quite easy to operate and maintain and provide better return on investment (ROI) in larger application areas. This is another prominent factor boosting the adoption off center pivot irrigation systems over other conventional systems. However, the market is largely hampered due to lack of awareness and relatively high initial costs of these systems.
The center pivot irrigation systems market, as of 2015, is dominated by the agriculture segment. These systems have become popular across countries such as the U.S., Australia, China, Brazil and some of the Western Europe countries. Due to strong agriculture sector across the regions, the segment has witnessed robust adoption of center pivot irrigation systems over the period of time. In addition, modernizing agricultural practices across India and some of the Africa countries is further estimated to support the agriculture segment growth in the coming years.
Competitive Insights:
The center pivot irrigation systems market is quite consolidated in nature and is dominated by few major players. Majority of the players are located in North America making the region highly competitive and the largest market. The U.S., China and some of the countries Western Europe are the most prominent countries with strong penetration of center pivot irrigation systems. Thus, majority of the companies emphasize on offering enhanced products incorporating ‘smart’ features to gain a competitive advantage over other players. Companies are also focused towards providing cost-effective systems and flexible payment options in countries such as China, India, Brazil and others in order to strengthen their geographical presence.
The complete report is available at http://www.credenceresearch.com/report/center-pivot-irrigation-systems-market
Key Trends:
Advancement in systems using sensors and control systems
Strengthening global sales channel in order to maintain and expand the sales
Focus on large untapped markets such as China, India and Brazil
Acquisition of regional players so as to penetrate in the international markets
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