Author: Vikas Kumar
13 January 2023
The Irrigation Machinery Market is expected to grow at a steady rate of around 9% during the forecast period Irrigation machinery is used to supply water to the crops in a controlled manner with the help of machines to maintain the quality, quantity, and growth of the crops. Moreover, growing demand for food, advancements in technology, and development in farming are also the factors driving the growth of this market. In addition, water scarcity in several areas is the prime factor driving the growth of the market. Furthermore, the government is also taking the initiative to provide water within reach of farmers and working on the conservation of water. For instance, the Indian Agricultural Research Institute (IARI) established the design of a micro-irrigation system (DOMIS), a web-based application system that helps in designing customized micro-irrigation systems for efficient water utilization, under several agro-climatic conditions.
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•Based on type, the market is segmented into sprinkler irrigation, drip irrigation, pivot irrigation, and others. The sprinkler irrigation category is to witness a higher CAGR during the forecast period owing to the growing demand for good quality food and to reduce water scarcity. In addition, sprinkler irrigation is the method to hydrate the crop in a controlled manner just like rainfall. Some of the factors like an increase in production, reduced water consumption leading to water conservation, and rising adoption of precision irrigation are driving the growth of the market.
•Based on the application, the market is categorized into grains and cereals, pulses and oilseeds, fruits and vegetables, and others. Among these, grains and cereals to hold a significant share in the market in 2020. As grains and cereals like wheat, rice, oats, barley, corn, maize, etc. are productive and versatile types of crops. Moreover, cereals and grains require the proper and controlled amount of water to maintain their growth. In addition, the growing advancement in technology, and varieties of seeds, responding to investments in research, breeding, and promotion are the factors that are helping to gain the lucrative growth of this market.
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• For a better understanding of the market adoption of the automotive subscription service, the market is analyzed based on its worldwide presence in the countries such as North America (U.S., Canada, Rest of North America), Europe (Germany, U.K., France, Spain, Italy, Rest of Europe), Asia-Pacific (China, Japan, India, Rest of Asia-Pacific), Rest of World. The area irrigated in North America increased because of groundwater pumping technology advancements and water development programs in this region. In addition, farmers in the area have timely access to financial assistance in the form of loans for agricultural equipment with adjustable interest rates and repayment terms. For instance, the US government extends loans on farm equipment through USDA Direct Operating Loans, USDA Operating Microloans, and USDA Guaranteed Operating Loans. Some of the major players operating in the market include Nelson Irrigation Corporation, Netafim Limited, Mahindra EPC Irrigation Ltd, Jain Irrigation Systems Limited, T-L Irrigation Co., The Toro Company, Valmont Industries Inc, Deere & Company, Lindsay Corporation, Rain Bird Corporation
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