DALLAS, March 11, 2015 /PRNewswire/ --
The report "Mechanized Irrigation Systems Market by Type (Center Pivot, Lateral Move, Solid Set, & Others), Application (Agricultural Crops, Nursery Crops, and Lawns & Gardens), & by Region - Global Trends & Forecast to 2019", published by MarketsandMarkets, The Mechanized Irrigation Systems Market, in terms of value, is projected to reach $4,840.80 Million by 2019, at a CAGR of around 15.3% from 2014
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The Mechanized Irrigation Systems Market, in terms of value, is projected to reach $4,840.80 million by 2019, at a CAGR of around 15.3% from 2014. Factors such as increasing use of technology, rising population, increasing food requirements, and focus on efficiency-increasing technologies for sustainable agriculture are the major drivers of the Mechanized Irrigation Systems Market. The global market is projected to grow at an unprecedented rate over the last five years. The growth is largely fueled by growing water scarcity concerns as well as resource and yield optimization. This growth is particularly higher in regions such as North America and Asia-Pacific. The Mechanized Irrigation Systems Market is dynamic, with the presence of a large number of global manufacturers and suppliers. Mechanized irrigation systems are very important as they improve the performance and yield of agricultural produce, thus benefiting the farmers.
Mechanized irrigation systems are classified into center pivot, lateral move, solid set, and others (travelling guns, permanent sets, side rolls, and mobile irrigation systems). The center pivot segment dominated the Mechanized Irrigation Systems Market, having contributed a 48.80% share in 2013. Centre pivot systems are capital-intensive investments but a slightly higher capital investment up-front can reduce operating costs over the life of the system. The solid set segment is projected to gain popularity in the next five years as it requires less labor. The key applications of mechanized irrigation systems are in agricultural crops, nursery crops, and lawns & gardens.
The trend of using highly sophisticated methods to reduce resource costs has led to the adoption of mechanized irrigation techniques for agriculture, cultivation, and plantation, and has caused increased demand for mechanized irrigation systems. The Indian and Chinese markets for mechanized irrigation systems are turning out to be crucial pockets, due to increasing governmental support to multi-nationals and financing farmers to purchase agricultural equipment. These countries are projected to offer immense potential to mechanized irrigation system manufacturers, due their high population density and agriculture being their most prevailing occupation.
The Mechanized Irrigation Systems Market is highly fragmented with the key market players driving the growth with agreements, expansions, acquisitions, and new product launches to develop their position in the Mechanized Irrigation Systems Market. The market is competitive, with leading players being involved in the research & development of new mechanized irrigation system products and applications.
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