• 出版社/出版日：Mordor Intelligence / 2022年1月28日
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The global irrigation machinery market was valued at USD 3,903.9 million in 2020, and it is anticipated to reach USD 6,603.6 million by 2026, registering a CAGR of 9.5% during the forecast period.
The impact of the COVID-19 pandemic was felt on various businesses including the global irrigation systems market. The impact of COVID-19 can be largely characterized by an unprecedented disruption in the supply side. Furthermore, transport restrictions also impeded the access to inputs needed by businesses in the agriculture sector. Manufacturing industries were closed due to restrictions aimed at containing COVID-19, which in turn, affected the availability of agricultural inputs and operations of hiring agricultural machinery service providers
Sprinkler irrigation machinery is the largest segment in the global irrigation machinery market. Several leading market players are investing in R&D work to develop innovative products and maintain a strong market foothold. The growing usage of efficient irrigation systems for their better yield output and other associated benefits is coupled with the continuous introduction of advanced models by key market players to make it the largest segment of the market studied.
North America is considered as the fastest growing market because the companies located in the region have been launching new products in the market studied, thereby, dominating the market with faster innovations and product launches. Government policies are also supplementing growth of the market by providing various subsidies to the farmers.
The factors, such as government subsidies and polices, technological innovations, and an increasing concern over water scarcity are driving the growth of the market. Also, the market for irrigation machinery is anticipated to grow with increased scarcity of natural irrigation systems and enhanced demand for crop productivity.
Key Market Trends
Subsidies from Government and Support from Financial Institutions
Government organizations are promoting irrigation machinery in various countries in order to encourage farmers to adopt advanced irrigation technologies by providing various benefits or subsidies to farmers. For instance, in 2017, in Spain, several water user associations (WUAs) received 40% subsidy from the Conselleria d’Agricultura, Pesca, Alimentació i Aiguafor installing drip irrigation machinery. This augmented the irrigation market’s growth in the country. Also, in the United States, the increasing water conservation subsidies for drip irrigation are anticipated to enhance water consumption and crop yield. This is expected to augment the demand for drip irrigation machinery.
The Indian Government approved initial aggregation of USD 702.3 million for setting up micro-irrigation fund (MIF) in May 2018, along with the National Bank for Agriculture and Rural Development (NABARD). This fund is registered under the Pradhan Mantri Krishi Sinchayee Yojna(PMKSY), which was formulated on July 1, 2015. The primary objective of the scheme is to promote micro-irrigation technologies, primarily among consuming crops, like cotton and sugarcane. Furthermore, it is focusing on expanding the coverage of field crops under micro-irrigation technologies. Moreover, the central government offered 35% to 45% subsidy for drip irrigation systems. This is expected to strengthen the market. Owing to favorable government policies regarding low-interest loans and subsidies for the implementation of modern and advanced irrigation systems, the irrigation machinery market is likely to witness significant growth, especially in developing countries, such as Latin America and Asia-Pacific.
North America Dominates the Market
Water development programs at the federal, state, and local levels and improvements in groundwater pumping technologies contributed to the expansion of the irrigated area in the North America. Farmers in the region have been able to avail timely subsidies in the form of agriculture equipment loans at flexible interest rates and repayment schedules. This has helped even the small-scale farmers to invest in agricultural irrigation equipment, thereby expanding the irrigation systems market. For instance, the US government extends loans on farm equipment through USDA Direct Operating Loans, USDA Operating Microloans, and USDA Guaranteed Operating Loans. The 2018 Farm Bill further increased the farm loan limit for the US farmers to better access the credit for high capital costs related to agriculture systems, including irrigation systems. The availability of loans and subsidies are propelling the demand for agricultural irrigation machinery, resulting in the growth of the market studied in the country.
As reported by Statistique Canada, the total irrigated area in the country increased from 688,780 ha in 2016 to 691,108 ha in 2018. Field crops contribute to most of the irrigation, which is 386,500 ha in 2016 and 401,700 ha in 2018. With the rising production of field crops such as corn and sorghum, the use of irrigation machinery is surging, driving the market subsequently in the region.
The global irrigation machinery market is consolidated, with major players occupying only major share of the market studied and other accounting for less share. The major players in the market are Orbia (Netafim Limited), Jain Irrigation Systems Limited, The Toro Company, Vamont Industries and Rain Bird Corporation. These major players are investing in new product launches, expansions, and acquisitions for business expansions.
- The market estimate (ME) sheet in Excel format
- 3 months of analyst support
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.3 Market Restraints
4.4 Porters Five Force Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitute Products
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
5 MARKET SEGMENTATION
5.1.1 Sprinkler Irrigation
188.8.131.52 Pumping Unit
184.108.40.206 Spray/Sprinklers Heads
220.127.116.11 Fittings and Accessories
18.104.22.168 Flow Meters
5.1.2 Drip Irrigation
22.214.171.124 Backflow Preventers
126.96.36.199 Pressure Regulators
188.8.131.52 Other Drip Irrigation
5.1.3 Pivot Irrigation
5.1.4 Other Irrigation Types
5.2.1 Grains and Cereals
5.2.2 Pulses and Oilseeds
5.2.3 Fruits and Vegetables
5.2.4 Other Applications
5.3.1 North America
184.108.40.206 United States
220.127.116.11 Rest of North America
18.104.22.168 United Kingdom
22.214.171.124 The Netherlands
126.96.36.199 Rest of Europe
5.3.3 Asia Pacific
188.8.131.52 Saudi Arabia
184.108.40.206 Rest of Asia- Pacific
5.3.4 South America
220.127.116.11 Rest of South America
5.3.5 Middle East and Africa
18.104.22.168 South Africa
22.214.171.124 Rest of Middle East and Africa
6 COMPETITIVE LANDSCAPE
6.1 Market Share Analysis
6.2 Most Adopted Strategies
6.3 Company Profiles
6.3.1 Nelson Irrigation Corporation
6.3.2 Orbia( Netafim Limited)
6.3.3 EPC Industries Limited
6.3.4 Jain Irrigation Systems Limited
6.3.5 T-l Irrigation Co.
6.3.6 The Toro Company
6.3.7 Valmont Industries
6.3.8 Deere & Company
6.3.9 Lindsay Corporation
6.3.10 Rain Bird Corporation
6.3.11 Rivulus Irrigation
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
8 AN ASSESSMENT OF IMPACT OF COVID-19 ON THE MARKET