New York City, NY, 16 December, 2019/ 24 Market Reports: The sprinkler irrigation systems market is estimated to reach USD 2.9 billion by 2025 witnessing the growth at a CAGR of 1.11% during the forecast period of 2019 to 2025. During the forecast period, it is estimated for the lateral move segment to grow at the highest rate. Since the lateral systems are preferable for large areas than that of pivots these are preferable for larger areas. Lateral move systems irrigate over recently irrigated land when changing direction, which poses operational problems such as non-uniform irrigation, this factor of it is hindering the growth of the market during the forecast period.
Lateral move irrigation systems segment to witness the growth at the highest CAGR during the forecast period
During the forecast period, it is estimated for the lateral move irrigation systems segment to witness the growth at the highest CAGR. A linear move sprinkler system is a continuous, self-moving, and straight lateral that irrigates a rectangular field. Most linear move systems are driven by electric motors located in each tower or are hydraulic-driven.
The sprinkler irrigation systems to dominate the market during the forecast period
By crop type, the sprinkler irrigation systems market dominated the market in 2018 but the oilseeds & pulses segment is estimated to overtake the former and is expected to grow at the highest rate during the forecast period. To reduce irrigation requirements, diversification, and/or to reduce input costs oilseed crops provide management options for the irrigators thus driving the growth of the segment. Irrigation is the only factor that is hampering the growth of the oilseed & pulse crops market in terms of profitability and quality.
North America to dominate the global market throughout the forecast period
North America dominated the global market in 2018 and the trend is set to continue throughout the forecast period. The penetration of sprinkler irrigation systems is the highest in North America. The presence of the key manufacturers in the region is the factor driving the growth of the market for the region. The introduction of growers by these manufacturers to precise irrigation techniques have contributed significantly to the development of irrigation infrastructure in the region.
The high cost of investment and set up to hinder the growth of the market during the forecast period
The capital investment which includes the cost of the equipment and the setup costs such as cost of pipes, sprinklers, pumps, electrical lines, well connectors, power units, and installation charges requires significantly higher capital for installation as compared to the traditional methods of flood irrigation and rain-fed agriculture. The equipment cost is half of the capital investment, whereas the other half of the capital is incurred as installation charges. These factors are proving to slow down the growth of the market during the forecast period.
The following are the major objectives of the study:
- To define, describe, and forecast the sprinkler irrigation systems market on the basis of product, application and region.
- To provide detailed information regarding major factors influencing growth of the market (drivers, restraints, and opportunities).
- To strategically analyze micromarkets with respect to individual growth trends, future prospects, and contributions to the overall market.
- To analyze the opportunities in the market for key stakeholders and provide details of the competitive landscape for leading market players.
- To forecast the size of the market segments with respect to four main regions, namely, North America, Europe, Asia-Pacific, and the Rest of the World (RoW).
- To strategically profile the key market players and comprehensively analyze their market shares and core competencies.
- To track and analyze competitive developments such as acquisitions, expansions, new product launches, agreements, and collaborations in the sprinkler irrigation systems market.
Critical Questions which the report answers:
- What are the major vendor/manufacturers in the market? What is their growth potential during next decade?
- What are the key revenue generating pockets for sprinkler irrigation systems market and their future potential during next decade?
- How competitive landscape is evolving in sprinkler irrigation systems market?
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