The Asia Pacific Irrigation Machinery Market Is Driven By Increasing Agriculture Production
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| Irrigation Machinery Market |
The irrigation machinery market consists of equipment and machinery such as sprinkler irrigation systems, drip irrigation systems and center pivot irrigation systems that are used for watering agricultural crops and landscapes. These systems make efficient use of water and fertilizers, allowing farmers to maximize crop yields while minimizing production costs. Sprinkler irrigation systems distribute water through a system of pipes fitted with sprinklers or spray nozzles. Drip irrigation systems distribute water slowly to the roots of plants through a network of valves, pipes, tubing and emitters. Center pivot irrigation systems feature sprinklers that pivot from a central pivot and slowly rotate around a circular area to water circular crop fields.
The global irrigation machinery market is estimated to be valued at US$ 8.11 Mn in 2023 and is expected to
exhibit a CAGR of 6.8% over the
forecast period 2023 to 2030, as
highlighted in a new report published by Coherent Market Insights.
Market key trends:
One of the key trends in the irrigation machinery market is the growing
adoption of precision irrigation and control technologies. Advancements in
sensor, control valve and monitoring technologies allow irrigation systems to
precisely apply water based on soil moisture levels, weather, crop conditions
and other parameters. This allows farmers to optimize water and fertilizer use
for each plant or select area. Precision irrigation helps improve crop yields
while reducing production costs and minimizing environmental impact. The use of
GPS, IoT sensors and control devices integrated with irrigation systems has
increased significantly over the past few years and is expected to drive
substantial market growth during the forecast period.
Porter's Analysis
Threat of new entrants: The threat of new entrants is moderate due to the
presence of established players and high initial capital investment required to
set up an irrigation machinery manufacturing unit.
Bargaining power of buyers: The bargaining power of buyers is moderate. There
is a wide range of irrigation machinery options available from numerous
domestic and international manufacturers.
Bargaining power of suppliers: The bargaining power of suppliers is low as
there are many component suppliers for irrigation machinery.
Threat of new substitutes: The threat of substitutes is low as there are
limited product substitutes for irrigation systems.
Competitive rivalry: The competitive rivalry in the irrigation machinery market
is high due to the presence of numerous global and regional players competing
on product offerings, quality, and pricing.
Key Takeaways
The Global
Irrigation Machinery Market Size is expected to witness high growth
over the forecast period. Regionally, Asia Pacific is projected to dominate the
global irrigation machinery market during the forecast period. Countries such
as India and China are expected to drive the demand for irrigation machinery in
the region attributed to growing agricultural sector and adoption of advanced
irrigation systems.
Regional analysis: Asia Pacific accounts for the largest share of the global
irrigation machinery market and the trend is expected to continue over the
forecast period. Countries like India and China are agriculture dependent and
have huge arable land, which is driving the irrigation machinery market in the
region. Supportive government policies and subsidies for adoption of modern
irrigation techniques are further fueling the irrigation machinery demand.
Key players: Key players operating in the irrigation machinery market include
Finolex Pipes, Nelson Irrigation Corporation, Rivulis Irrigation Inc., Netafim
Limited, Rain Bird Corporation, EPC Industries Limited, Lindsay Corporation,
Jain Irrigation Systems Limited, Deere & Company, T-l Irrigation Co.,
Valmont Industries, and The Toro Company. These players are focusing on new
product launches and expansion in emerging markets to strengthen their market
position.
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