Center pivot irrigation systems market to reach $1,734.4 mn by 2021

The report "Center Pivot Irrigation Systems Market- Global Forecast to 2021"shows that the center pivot irrigation systems market is projected to grow at a CAGR of 14.9% from 2016 to 2021, to reach a projected value of USD 1,734.4 Million by 2021. Center pivot irrigation systems are gaining significance because unirrigated lands are being converted into mechanized irrigation, shrinking arable land, and higher production as compared to rain-fed crops.

The global market is led by the cereal crops segment, followed by the oilseeds & pulses segment. Rapid growth in the demand for cereal crops from increasing population and use of cereals in animal feed and biofuels are driving the application of center pivot irrigation systems in cereal crops. Higher yield requirement from limited area has also led to the growth in its application.

Among the field type on which center pivot irrigation systems are employed, the large field segment accounted for the largest market share in 2015. Center pivot irrigation is widely used in large fields because of the high returns of investment and reduction in per acre cost. Stationary center pivot irrigation systems have a larger market share as compared to mobile systems, since in large fields, the use of stationary systems is more feasible.

North America accounted for the largest market share for center pivot irrigation systems, U.S. being the fastest growing and having the largest market share in this region from 2016 to 2021. There is shifting of cropland to larger farms as better financial returns are realized through larger crop farms. Europe is projected to be the second-largest market for the period considered for this study.  The Rest of World (RoW) region is projected to grow at the highest CAGR between the forecast period 2016–2021. The development of corporate farming in African and Middle Eastern countries is a major market driver in these regions.

Key participants in the supply chain of center pivot irrigation systems are raw material suppliers, center pivot irrigation systems manufacturers, distributors, and end users such as government, farmers/crop producers, and researchers. The major key players that are profiled in the report include Lindsay Corporation (U.S.), Valmont Industries, Incorporated (U.S.), T-L Irrigation Company (U.S.), Alkhorayef Group (Saudi Arabia), Reinke Manufacturing Company, Incorporated (U.S.), Rainfine (Dalian) Irrigation Company, Limited (China), Bauer GmbH, Roehren- und-Pumpenwork (Austria), and Grupo Fockink (Brazil).