-- Global Precision Irrigation Market 2018-2023:
Precision irrigation involves the accurate assessment of the requirements of the plants and accurate application of the required volume at the required time. The development of the precision irrigation has played a significant role not only in reducing the water which is required to maintain the yields of the crop but it has stressed on the need for new methods for accuracy of irrigation scheduling and control. The precision irrigation market was valued at USD 2.76 billion in the year 2017 and is estimated to increase further till 2023, registering a CAGR growth of 7.2% in the forecast period.
The precision irrigation market is driven by factors such as increasing need for efficient use of water globally, demand for varieties of crops available round the year, rising population and their increasing food demand, and strong support from different government organizations who encourage and promote the farmers to adopt precision irrigation and enhanced yield and quality of crops by using precision irrigation. The major factors which are affecting the market negatively are high initial installation cost and maintenance cost and lack of technical expertise to interpret and operate precision irrigation technologies.
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Boom Irrigation System to be the Best Technology
Boom irrigation system have proved to be the best technology developments in precision irrigation over the last 20 years. They work best with plug or cell trays, pot to pot spaced plants or cutting in beds. The system has efficiency and precision in watering thus reducing wastage. This system requires less water because it operates to provide the optimum amount of water for the crop. Labor is also reduced as irrigation can be done while doing other tasks.
North America Dominates the Precision Irrigation Market
In 2016, North America dominated the precision irrigation market with a market share of more than 30%. The US dominates the market share for precision irrigation in the region. During the forecast period the North America is expected to witness a CAGR of 6.9%. Large scale farmlands, ever existing need to increase productivity of agriculture, and high labor costs will drive the precision irrigation market in this region. Farmers in this region are highly skilled and are willing to embrace new technologies, therefore high growth rates are expected to be seen in the region.
Major Players: RIVULIS IRRIGATION LTD., JAIN IRRIGATION SYSTEMS LTD., VALMONT INDUSTRIES INC, THE TORO COMPANY, LINDSAY CORPORATION, RAIN BIRD CORPORATION, NELSON IRRIGATION CORPORATION, AND NETAFIM LTD., among others.
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Identify the dominating and the fastest growing regions in the global precision irrigation market and their growth trends during the forecast period
Analyzing various perspectives of the market with the help of Porter’s five forces analysis
To understand the regions that are expected to witness fastest growth during the forecast period
Identify the latest developments, market shares, and strategies employed by the major market players
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Table of Content
Introduction
1.1 Market Definition
1.2 Key Findings of the Study
Research Scope & Methodology
2.1 Study Deliverables
2.2 Study Assumptions
2.3 Research Methodology
2.4 Research Phases
Market Overview
3.1 Market Dynamics
3.1.1 Drivers
3.1.1.1 Global Focus on Efficient Use of Water
3.1.1.2 Demand for Variety in Crops around the Year
3.1.1.3 Rising Population and Increasing Food Demand
3.1.1.4 Initiatives and Support by Government Organizations
3.1.1.5 Better Yield and Quality Concern for Crops
3.1.2 Restraints
3.1.2.1 High Initial Set-up and Maintenance Cost
3.1.2.2 Lack of Technical Expertise
Industry Analysis
4.1 Porter's Five Forces Analysis
4.1.1 Bargaining Power of Suppliers
4.1.2 Bargaining Power of Buyers
4.1.3 Threat of New Entrants
4.1.4 Threat of Substitute Products and Services
4.1.5 Degree of Competition
Market Segmentation
Competitive landscape6.1 Market Share Analysis
6.2 Major Strategies Adopted by Leading Players
6.3 Most Active Companies
Companies Profiles#
7.1 Jain Irrigation Systems Ltd
7.2 Lindsay Corporation
7.3 Nelson Irrigation Corporation
7.4 Netafim Ltd
7.5 Rain Bird Corporation
7.6 Reinke Manufacturer
7.7 Rivulis Irrigation Ltd
7.8 The Toro Company
7.9 TL irrigation
7.10 Valmont Industries Inc.
#List Not Exhaustive
Future of the Market
Appendix
Disclaimer
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