New York, Aug. 02, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Center Pivot Irrigation System Global Market Report 2023" - https://www.reportlinker.com/p06479872/?utm_source=GNW
, Lindsay Corporation, Nelson Irrigation Corporation, Netafim Ltd., Pierce Corporation, Premier Irrigation Adritec Pvt. Ltd., Rain Bird Corporation., Rainfine (Dalian) Irrigation Co. Ltd. and Reinke Manufacturing Company Inc.
The global center pivot irrigation systems market is expected to grow from $3.84 billion in 2022 to $4.28 billion in 2023 at a compound annual growth rate (CAGR) of 11.45%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The center pivot irrigation systems market is expected to reach $6.72 billion in 2027 at a CAGR of 11.92%.
The center pivot irrigation system market consists of sales of the lateral move sprinkler irrigation systems and regular drive unit.Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
A center-pivot irrigation system refers to a movable pipe structure that rotates around a central pivot point connected to a water supply.Center pivot irrigation systems are the most popular sprinkler irrigation systems because of their high efficiency, high uniformity, and ability to irrigate uneven terrain.
Centre pivots are capable of applying water, fertilizer, chemicals, and herbicides. This versatility can improve the efficiency of irrigation practices by using a single piece of machinery to perform several functions.
North America was the largest region in the center pivot irrigation systems market in 2022. The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main components of the center pivot irrigation system are pivot points, drive trains, sprinkler drops, spans, control panels, and tower drive wheels.Pivot points refer to a technical analysis indicator that is used to determine the market’s overall trend over various time frames.
The various crop types include oilseeds and pulses, cereals, and other crops. The various field sizes include medium fields, small fields, and large fields with various types of mobility such as stationary, and mobile.
The growing agriculture productivity is expected to propel the growth of the center-pivot irrigation system market going forward.Agriculture productivity refers to a measure of economic performance that compares the amount of goods and services produced (output) with the amount of inputs used to produce those goods and services.
Center-pivot irrigation can deliver water at the required choices and ensure that the crops receive proper hydration, adjust the height throughout their growth cycle, and increase productivity, as a result, the growing agriculture productivity increases the demand for center-pivot irrigation system market. For instance, in March 2022, the global production of primary crops increased by 52 percent between 2000 and 2020, to 9.3 billion tons in 2020. Therefore, the growing need for enhanced productivity drives the center-pivot irrigation system market.
Product innovations are a key trend gaining popularity in the center pivot irrigation systems market.Major companies operating in the market are introducing innovative products to sustain their position in the center-pivot irrigation systems market.
For instance, in July 2022, Valley Irrigation, a US-based center pivot irrigation company, and Farmers National Company, a US-based company that provides agricultural services nationwide to landowners partnered and launched the first solar-powered center pivot system, which provides power to a 7-tower, corner arm machine to help offset energy consumption to irrigate the field.The system captures and converts 94 percent of the sun’s rays into electricity via a converter and dumps it from direct current to alternating current within the local power district, so it feeds directly into the local power grid, and then that loops through and powers the pivot.
The unit isn’t powered by the set-up and would take about an acre of solar panels to provide enough power, and the lifespan of the panels is about 20 to 30 years, the same as the pivot system.
In August 2022, Carlyle, a US-based private equity firm acquired Ocmis for an undisclosed amount.With this acquisition, Carlyle aims at developing its commercial platform and marketing strategy across the business and expands its irrigation solutions portfolio.
Ocmis is an Italy-based company that manufactures pivot irrigation systems.
The countries covered in the center pivot irrigation systems market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The center pivot irrigation systems market research report is one of a series of new reports that provides center pivot irrigation systems market statistics, including center pivot irrigation systems industry global market size, regional shares, competitors with a center pivot irrigation systems market share, detailed center pivot irrigation systems market segments, market trends and opportunities, and any further data you may need to thrive in the center pivot irrigation systems industry. This center pivot irrigation systems market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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