Global Mobile Center Pivot Irrigation System Market 2023-2030

Global Mobile Center Pivot Irrigation System Market 2023-2030

Global Mobile Center Pivot Irrigation System Market Size, Share & Trends Analysis Report by Product Type (Pivot Points, Control Panels, Span, Sprinkler Drop, Tower Drive Wheels, and Drive Train), and By Application (Small Field, Medium Field, and Large Field) Forecast Period (2023-2030)

The global mobile center pivot irrigation system market is anticipated to grow at a considerable CAGR of 7.5% during the forecast period. The increasing demands for high- and better-quality crops, increasing demand for food, and advancements in technology in the mobile center pivot irrigation system are major factors driving the growth of the global mobile center pivot irrigation system market. The global population has quadrupled over the last century. In 1915, the total population was 1.8 billion across the globe which has increased up to 7.3 billion in 2017 as per UN census data. Further, UN calculations have estimated that it may reach up to 9.7 billion by 2050.

The increasing population across the globe will significantly raise the demand for food. The global food demand is driven by an increase in population as well as rising incomes in developing countries which cause dietary changes such as eating more proteins and vegetables. As per Harvard Business Publishing, the global demand for food is expected to increase by 59% in 2016 to 98% in 2050. Growing demand for food will significantly impact the growth of the market as the productivity of existing lands can be enhanced by using fertilizer and new irrigation techniques which in turn drives the growth of the global mobile center pivot irrigation system market. High installation cost along with high maintenance cost is a key factor restraining the market growth.

Segmental Outlook

The global mobile center pivot irrigation system market is segmented based on product type and application. Based on product type, the market is segmented into pivot points, control panels, span, sprinkler drop, tower drive wheels, and drive train. Based on application, the market is sub-segmented into small field, medium field, and large field.

Large Field Segment Holds a Prominent Market Share in the Global Mobile center pivot irrigation system Market

The growing application of mobile center pivot irrigation system in large field to earn high return on investments and reduction in per acre cost is a key factor driving the growth of this market segment. Moreover, mobile systems are convenient for use in large field, which further contributes towards the growth of this market segment.

Regional Outlook

The global mobile center pivot irrigation system market is further segmented based on geography, including North America (the US and Canada), Europe (Italy, Spain, Germany, France, and others), Asia-Pacific (India, China, Japan, South Korea, and others), and the Rest of the World (the Middle East & Africa and Latin America). Among these, Asia-Pacific is estimated to be the fastest-growing region owing to the rapidly developing agriculture sector in the region. Besides, favorable government policies, rising food demand, presence of key market players, and rise in the demand for advanced farming methods are some of the major factors that contributed towards the fueling of regional market growth. For instance, in February 2022, the Central Government announced to provide subsidy or financial assistance at 55 percent of the indicative unit cost to the farmers and at 45 percent to other cultivators for encouraging them to install Drip and Sprinkler Irrigation systems under the Per Drop More Crop scheme to enhance the coverage. Additionally, some States provide additional incentives or top-up subsidy to reduce farmers’ share for the adoption of Micro Irrigation.

The North America Region held Considerable Share in the Global Mobile Center Pivot Irrigation System Market

North America held a considerable share in the global mobile center pivot irrigation system market. In North America, the US held a major market share. The factors that drive the growth of the mobile center pivot irrigation system market in the region include the rising demand for advanced technology for crop irrigation. The presence of key market players across the region is further contributing to the market growth.

Market Players Outlook

The major companies serving the global mobile center pivot irrigation system market include Lindsay Corp., Valmont Industries Inc., T-L Irrigation Co., Regal Beloit Corp., and Traxco, S.A. among others. The market players are considerably contributing to the market growth by the adoption of various strategies, including mergers and acquisitions, partnerships, collaborations, funding, and new product launches, to stay competitive in the market.

The Report Covers

Market value data analysis of 2022 and forecast to 2030.

Annualized market revenues ($ million) for each market segment.

Country-wise analysis of major geographical regions.

Key companies operating in the global mobile center pivot irrigation system market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.

Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.

Analysis of market-entry and market expansion strategies.

Competitive strategies by identifying ‘who-stands-where’ in the market.