Mechanized Irrigation Systems Market
REPORT DESCRIPTION
Mechanized Irrigation Systems Market - Industry Analysis , Size , Share , Forecast 2024
Transparency Market Research has released a new market report titled “ Mechanized Irrigation Systems Market - Global Industry Analysis , Size , Share , Growth , Trends and Forecast 2016 - 2024 .” According to this report , the global mechanized irrigation systems market was valued at US $ 10 Bn in 2015 and is projected to reach US $ 35 Bn by 2024 at a CAGR of 14.9 % from 2016 to 2024 .
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Agriculture is a leading sector which impacts the economic development of a country . Low agricultural production and inefficient irrigation systems have to be remedied to enhance the productivity of crops , and thereby , strengthen the economic development of a country . This would spur the utilization of mechanized irrigation systems globally . Mechanized irrigation systems are equipment , which are widely used to water the crops with the help of watering systems such as sprinklers , central pivot systems , lateral move systems , moving water nozzles , and impact sprinklers .
The mechanized irrigation systems market is highly fragmented , with major players driving the market with agreements , acquisitions , expansions , and new product launches to attain a competitive position in the market . Reduction in resource costs has led to the adoption of mechanized irrigation systems in agriculture , cultivation , and plantation thereby , increasing the demand for mechanized irrigation systems . Rapid population growth , food and water scarcity , increasing awareness among farmers regarding the benefits of mechanized irrigation systems , government promotion and investments , and low cost of irrigation followed by high productivity are the primary drivers of the mechanized irrigation systems market growth .
The mechanized irrigation systems market has been segmented on the basis of type , application , and region . In terms of type , center pivot irrigation systems held about 69 % share and lateral move irrigation systems accounted for the remaining 31 % of the mechanized irrigation systems market in 2015 . The selection criteria of mechanized irrigation systems is highly dependent on physical location , overall price , water supply , and irrigational area and varies from country to country . In terms of application , agricultural crops held about 68 % share in 2015 . Lawns and gardens
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