Global Mechanized Irrigation Systems Market to Reach $47.7 Billion by 2030
The global market for Mechanized Irrigation Systems estimated at US$19.5 Billion in the year 2023, is expected to reach US$47.7 Billion by 2030, growing at a CAGR of 13.6% over the period 2023-2030. Central Pivot Mechanized Irrigation Systems, one of the segments analyzed in the report, is expected to record 12.9% CAGR and reach US$27.5 Billion by the end of the analysis period. Growth in the Lateral Move Mechanized Irrigation Systems segment is estimated at 14.6% CAGR for the next 7-year period.
The U.S. Market is Estimated at $5 Billion, While China is Forecast to Grow at 17.6% CAGR
The Mechanized Irrigation Systems market in the U.S. is estimated at US$5 Billion in the year 2023. China, the world`s second largest economy, is forecast to reach a projected market size of US$11.7 Billion by the year 2030 trailing a CAGR of 17.6% over the analysis period 2023 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 9.3% and 11.6% respectively over the 2023-2030 period. Within Europe, Germany is forecast to grow at approximately 10.6% CAGR.
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.
Download eBook