Irrigation Machinery Market is expected to grow at a CAGR of around 9% from 2022-2028.
According to a new report published by UnivDatos Markets Insights, the Irrigation Machinery Market is expected to grow at a CAGR of around 9% from 2022-2028. The analysis has been segmented into Type (Sprinkler Irrigation, Drip Irrigation, Pivot Irrigation, and Others); Application (Grains and Cereals, Pulses and Oilseeds, Fruits and Vegetables, and Others); Region/Country.
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The irrigation machinery report has been aggregated by collecting informative data on various dynamics such as market drivers, restraints, and opportunities. This innovative report makes use of several analyses to get a closer outlook on the irrigation machinery Market. The irrigation machinery market report offers a detailed analysis of the latest industry developments and trending factors in the market that are influencing market growth. Furthermore, this statistical market research repository examines and estimates the all-terrain vehicle market at the global and regional levels.
Market Overview
Irrigation Machinery is used to supply water to the crops from a nearby resource like a river or stream by means of a channel. Water shortage is the primary problem in many areas and to counter the negative effect of water scarcity, irrigation is done by using machines. Moreover, the market for irrigation machinery is anticipated to grow with an increase in demand for natural irrigation systems, enhanced demand for crop productivity, government subsidies and policies, technological innovations, increasing concern over water scarcity, and growing demand for good quality food. Furthermore, the entry of global players into emerging markets adds to the growth of the market. For instance, In July 2020, Lindsay Corporation acquired Net Irrigate LLC, an agriculture Internet of a Things technology company that provides remote monitoring solutions for irrigation customers. It will join Lindsay's FieldNET brand of remote irrigation monitoring and control solutions.
Some of the major players operating in the market include Nelson Irrigation Corporation, Netafim Limited, Mahindra EPC Irrigation Ltd, Jain Irrigation Systems Limited, T-L Irrigation Co., The Toro Company, Valmont Industries Inc, Deere & Company, Lindsay Corporation, Rain Bird Corporation.
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COVID-19 Impact
The COVID-19 pandemic influenced a number of industries, notably the demand for irrigation systems worldwide. The main effect of COVID-19 can be summed up as an extraordinary supply-side disruption. Moreover, transport limitations additionally made it difficult for enterprises in the agriculture industry to get the inputs they required. Due to regulations designed to contain COVID-19, manufacturing businesses were shut down, which had an impact on the supply of agricultural inputs and the activities of hired agricultural machinery service providers.
The global irrigation machinery market report is studied thoroughly with several aspects that would help stakeholders in making their decisions more curated.
· Based on type, the market is segmented into sprinkler irrigation, drip irrigation, pivot irrigation, and others. The sprinkler irrigation category to witness a higher CAGR during the forecast period owing to the growing demand for good quality food and to reduce water scarcity. In addition, sprinkler irrigation is the method to hydrate the crop in a controlled manner just like rainfall. Some of the factors like an increase in production, reduced water consumption leading to water conservation, and rising adoption of precision irrigation are driving the growth of the market.
· Based on the application, the market is categorized into grains and cereals, pulses and oilseeds, fruits and vegetables, and others. Among these, grains and cereals to hold a significant share in the market in 2020. As grains and cereals like wheat, rice, oats, barley, corn, maize and etc are productive and versatile types of crops. Moreover, cereals and grains require the proper and controlled amount of water to maintain their growth. In addition, the growing advancement in technology, and varieties of seeds, responding to investments in research, breeding, and promotion are the factors that are helping to gain the lucrative growth of this market
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Automotive Subscription Services Market Geographical Segmentation Includes:
· North America (United States, Canada, and Rest of North America)
· Europe (Germany, United Kingdom, Spain, Italy, France, and the Rest of Europe)
· Asia-Pacific (China, Japan, India, and the Rest of Asia-Pacific)
· Rest of the World
For a better understanding of the market adoption of the irrigation machinery market, the market is analyzed based on its worldwide presence in the countries such as North America (U.S., Canada, Rest of North America), Europe (Germany, U.K., France, Spain, Italy, Rest of Europe), Asia-Pacific (China, Japan, India, Rest of Asia-Pacific), Rest of World. North America is anticipated to grow at a substantial CAGR during the forecast period. The area irrigated in North America increased as a result of groundwater pumping technology advancements and water development programs in this region. In addition, farmers in the area have timely access to financial assistance in the form of loans for agricultural equipment with adjustable interest rates and repayment terms. For instance, the US government extends loans on farm equipment through USDA Direct Operating Loans, USDA Operating Microloans, and USDA Guaranteed Operating Loans
The major players targeting the market include
· Nelson Irrigation Corporation
· Netafim Limited
· Mahindra EPC Irrigation Ltd
· Jain Irrigation Systems Limited
· T-L Irrigation Co.
· The Toro Company
· Valmont Industries, Inc
· Deere & Company
· Lindsay Corporation
· Rain Bird Corporation
Competitive Landscape
The degree of competition among prominent global companies has been elaborated by analyzing several leading key players operating worldwide. The specialist team of research analysts sheds light on various traits such as global market competition, market share, most recent industry advancements, innovative product launches, partnerships, mergers, or acquisitions by leading companies in the irrigation machinery market. The major players have been analyzed by using research methodologies for getting insight views on global competition.
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Key questions resolved through this analytical market research report include:
• What are the latest trends, new patterns, and technological advancements in the irrigation machinery market?
• Which factors are influencing the irrigation machinery market over the forecast period?
• What are the global challenges, threats, and risks in the irrigation machinery market?
• Which factors are propelling and restraining the irrigation machinery market?
• What are the demanding global regions of the irrigation machinery market?
• What will be the global market size in the upcoming years?
• What are the crucial market acquisition strategies and policies applied by global companies?
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