PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1485870
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1485870
Center Pivot Irrigation Systems Market size was valued at USD 1,858.2 Million in 2023, expanding at a CAGR of 16.00% from 2024 to 2032.
Center pivot irrigation, also called waterwheel irrigation, is a method of watering crops by rotating a machine around a pivot and using sprinklers to irrigate the crops. It is composed of a circular tube that is held up by towers that rotate around a central point. The radial pipe has evenly spaced nozzles that dispense water as it rotates, watering crops efficiently. This feature of Center Pivot Irrigation Systems ensures uniform irrigation, with nozzles near the pivot covering less area and receiving faster irrigation compared to those farther away. Some benefits of the pivot system are even water distribution, no need for manual labor, running at lower pressure to save energy, effective water usage, and avoiding water wastage.
Center Pivot Irrigation Systems Market- Market Dynamics
Advancements in Agriculture and Irrigation Technology are Fueling the Growth of the Center Pivot Irrigation Systems Market
The increasing need for higher quality crops worldwide, along with advancements in agricultural technologies and irrigation systems, is driving the expansion of the Center Pivot Irrigation Systems Market. Moreover, the increasing global population is also a significant contributor to the rising demand for food. To meet this demand, there is a growing requirement for increased productivity on current land areas using advanced irrigation methods, which is fueling market growth. Moreover, the market is expected to grow faster because more non-irrigated land is being converted to mechanized irrigation, and irregular rainfall patterns are changing in some regions due to climate change. Numerous benefits of Center Pivot Irrigation Systems compared to traditional irrigation systems are driving the market's expansion. Center Pivot Irrigation Systems aid in decreasing water usage and addressing water scarcity problems in various regions while also increasing crop yields with minimal water consumption. Some factors are driving the market's growth.
Center Pivot Irrigation Systems Market- Key Insights
As per the analysis shared by our research analyst, the global market is estimated to grow annually at a CAGR of around 16.00% over the forecast period (2024-2032)
Based on Field Size segmentation, a large field (more than 25 hectares) was predicted to show maximum market share in the year 2023
Based on Crop Type segmentation, Cereals was the leading type in 2023
Based on Mobility segmentation, stationary was the leading type in 2023
On the basis of region, North America was the leading revenue generator in 2023
The Global Center Pivot Irrigation Systems Market is segmented on the basis of Field Size, Crop Type, Mobility, Components, and Region.
The market is divided into three categories based on Field Size: small field (up to 3 hectares), Medium field (3 hectares to 25 hectares), and large field (more than 25 hectares). The large field (more than 25 hectares) category, which accounted for the greatest proportion of the global business in 2023, is expected to have massive expansion throughout the projected period. This segment's growth between 2024 and 2032 can be attributed to the widespread use of center-pivot irrigation systems in farming and the tilling of bigger areas.
The market is divided into two categories based on Crop Type: cereals, Oilseeds and pulses, and Others. The cereals category, which dominated the worldwide center pivot irrigation systems market share in 2023, is expected to lead segmental expansion in the near future. The segmental increase can be attributed to the large-scale global demand for cereals and the high yield of grains from a small area of arable land.
Center Pivot Irrigation Systems Market- Geographical Insights
Geographically, this market is widespread in the regions of North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. These regions are further divided as per the nations bringing business. North America was the leading market region in 2023 and is projected to grow significantly at the highest CAGR in the forecast period. This is because of the large production of fruit and vegetable syrups in the United States. Moreover, companies are diversifying into different market sectors by offering high-quality products like concentrated syrups with unique scents and authentic flavors.
The Asia Pacific region is forecasted to experience the highest growth rate in the projected time frame. As APAC developing nations embrace Western culture and habits, the local industry could see expansion into sectors like convenience food. Moreover, increasing consumers' discretionary incomes will enhance the need. The growing countries in the region are embracing Western culture and lifestyle, creating new opportunities for growth in segments like convenience food in the regional market.
The global center pivot irrigation systems market is consolidated, with the top five companies accounting for more than half of total sales. Valmont Industries, Inc., Lindsay Corporation, Rainfine, and T-L Irrigation Company dominate the global central pivot irrigation systems market. These companies are concentrating on incorporating turnkey farm management solutions into their offering. For instance, in January 2020, Valmont Industries, Inc. bought AgSense LLC, a farm technology corporation based in the United States that offers remote agricultural management solutions for farm practices. The increasing adoption of data-driven technologies in agriculture, which will enable automation and make detecting crop requirements easier, is set to herald important advances in the center-pivot irrigation systems market.
In July 2023, Lindsay Corporation announced the acquisition of Net Irrigate, LLC, a North American agricultural Internet of Things technology firm that offers remote monitoring solutions to irrigation customers. Net Irrigate will join Lindsay's FieldNET line of remote irrigation monitoring and control products.
In October 2022, Reinke Irrigation, a leading producer of center pivot irrigation systems, has expanded its strategic collaboration with CropX Technologies, the provider of a digital agronomic farm management application that provides end-users with irrigation, nutrition, and disease information, as well as crop and soil management insights. The move would help to ensure that water is used optimally in agricultural production.
GLOBAL CENTER PIVOT IRRIGATION SYSTEMS MARKET KEY PLAYERS- DETAILED COMPETITIVE INSIGHTS
Lindsay Corporation (U.S.)
Valmont Industries Incorporated (U.S.)
T-L Irrigation Company (U.S.)
Alkhorayef Group (Saudi Arabia)
Reinke Manufacturing Company Incorporated (U.S.)
Rainfine (Dalian)
Irrigation Company, Limited (China)
Bauer GmbH, Roehren-und-Pumpenwork (Austria)
Grupo Fockink (Brazil)
Others