Report ID: SQSG20H2002
Report ID:
SQSG20H2002 |
Region:
Global |
Published Date: April, 2024
Pages:
157
|
Tables:
116 |
Figures:
77
North america to dominate the global market owing to large land holding farm sizes in the region
In North America, sprinkler irrigation systems have the highest penetration. This area has a competitive edge due to the presence of significant firms including Valmont Industries, Lindsay Corporation, T-L Irrigation, and Reinke Manufacturing, Inc. These important companies have helped the region's irrigation infrastructure flourish by introducing farmers to precise watering techniques. Furthermore, over the past ten years, the market share of sprinkler irrigation systems in the US has climbed from 35% to 46%.
In North America, both groundwater and surface water are used for irrigation operations; however, it is estimated that over 60% of the irrigated area in the US, a significant market, is watered using groundwater. Due to the climatic circumstances, a huge portion of America can experience many crop cycles in a single year, owing to which a larger cropping intensity is possible in this region.
In terms of market share, Asia Pacific and Europe are expected to follow North America. The development of this industry is being driven by Europe's high level of understanding of contemporary irrigation systems and the widespread use of these systems for the production of diverse crops. Additionally, the allocation of sizable land areas for sprinkler irrigation across nations like Russia, France, Italy, and Spain is predicted to help increase the size of the regional market.
Due to a number of factors, Asia Pacific is predicted to experience the quickest growth during the projection period. One of the main factors is the fact that one of the most important revenue-generating industries in major economies like China and India is agriculture. The region's rapidly expanding population is pressuring farmers to use sophisticated irrigation methods, such sprinkler systems, to grow a lot of crops without wasting water. In addition, strong government backing for the use of these irrigation systems and the presence of regional market leaders like Jain Irrigation Systems are predicted to boost the growth of the sprinkler irrigation market in the years to come.
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REQUEST FREE CUSTOMIZATIONSprinkler Irrigation System Market size was valued at USD 2285.07 million in 2019 and is poised to grow from USD 2426.66 million in 2023 to USD 3884.01 million by 2031, growing at a CAGR of 6.05% in the forecast period (2024-2031).
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Report ID: SQSG20H2002