Global Center Pivot Irrigation System Market
Machinery

Global Center Pivot Irrigation System Market Report 2024: Size, Drivers, And Top Segments

The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

 

The center pivot irrigation system market has seen significant growth in recent years, driven by advancements in technology and rising agricultural productivity. This blog delves into the current market trends, future projections, and key factors fueling this dynamic sector.

 

Current Market Landscape

Rapid Market Growth

  • Market Size Increase: Grew from $4.28 billion in 2023 to $4.79 billion in 2024.
  • Compound Annual Growth Rate (CAGR): 11.8%.

Key Drivers of Growth

  • Semiconductor Industry Growth: Increased demand for electronic components.
  • Integrated Circuit Miniaturization: Smaller, more efficient circuits driving technological advancements.
  • Advancements in Electronic Devices: Continuous innovation in consumer electronics.
  • Rise in Data Storage Devices: Growing need for data storage solutions.
  • Consumer Electronics Boom: Increased consumption of electronic goods.
  • Globalization of Electronics Manufacturing: Expansion of manufacturing capabilities globally.

 

View More On The Center Pivot Irrigation System Market Report 2024 – https://www.thebusinessresearchcompany.com/report/center-pivot-irrigation-system-global-market-report

 

Future Market Projections

Continued Expansion

  • Expected Market Size: Projected to reach $7.62 billion by 2028.
  • CAGR: 12.3% during the forecast period.

Emerging Trends

  • Automotive Electronics Evolution: Increasing integration of electronics in vehicles.
  • Demand for Advanced Displays: Higher demand for sophisticated display technologies.
  • Quantum Computing Development: Innovations in quantum computing driving market growth.
  • Global Semiconductor Industry Investments: Increased investments in semiconductor manufacturing.
  • Environmental and Safety Regulations: Stricter regulations influencing market dynamics.

 

Major Technological Trends

  • Advanced Node Technology: Development of more advanced semiconductor nodes.
  • 3D ICs and Packaging: Innovations in integrated circuits and packaging technologies.
  • Integration of In-Situ Metrology: Real-time measurement and control during manufacturing.
  • Advancements in Slurry Formulations: Improved materials for semiconductor manufacturing.
  • Collaborations and Partnerships: Increased strategic partnerships within the industry.
  • Integration of AI and ML: Adoption of artificial intelligence and machine learning in manufacturing processes.

 

Rising Agricultural Productivity Fuels Market Growth

Impact of Agricultural Productivity

  • Increased Demand: Higher agricultural productivity boosts demand for efficient irrigation systems.
  • Efficient Water Delivery: Center-pivot irrigation systems ensure optimal water distribution.
  • Enhanced Crop Yield: Improved irrigation leads to better crop hydration and productivity.

Case in Point

  • UK Agricultural Productivity: The UK’s total factor productivity (TFP) in agriculture increased by 3.4% between 2021 and 2022, with overall crop output rising by 1.7% from 2021.

 

Key Players in the Market

Major Companies

  • Leading Brands: Alkhorayef Group, BAUER GmbH, Driptech India Pvt. Ltd., EPC Industries Ltd., Grupo Fockink, Hunter Industries Inc., Jain Irrigation Systems Ltd., Lindsay Corporation, Nelson Irrigation Corporation, Netafim Ltd., and more.
  • Innovation Focus: Companies are focusing on introducing innovative products to stay competitive.

 

Innovative Product Vision Transforming the Market

Technological Innovations

  • Solar-Powered Systems: In July 2022, Valley Irrigation and Farmers National Company launched the first solar-powered center pivot system.
  • Energy Efficiency: The system converts 94% of solar energy into electricity, reducing energy consumption and environmental impact.

 

Strategic Acquisitions and Market Expansion

Strengthening Market Position

  • Carlyle’s Acquisition of Ocmis: In August 2022, Carlyle acquired Ocmis to expand its irrigation solutions portfolio and enhance its commercial platform.

 

Market Segmentation

By Component

  • Pivot Points
  • Drive Trains
  • Sprinkler Drops
  • Spans
  • Control Panels
  • Tower Drive Wheels

By Crop Type

  • Oilseeds and Pulses
  • Cereals
  • Other Crop Types

By Field Size

  • Medium Fields
  • Small Fields
  • Large Fields

By Mobility

  • Stationary
  • Mobile

 

Regional Insights

Dominant and Emerging Regions

  • North America: The largest region in the center pivot irrigation systems market in 2023.
  • Asia-Pacific: Expected to be the fastest-growing region during the forecast period.

 

Conclusion
The center pivot irrigation system market is poised for substantial growth, driven by advancements in technology and increasing agricultural productivity. Companies that innovate and adapt to emerging trends and regulatory requirements are likely to thrive in this expanding market.

 

Request A Sample Of The Global Center Pivot Irrigation System Market Report 2024:
https://www.thebusinessresearchcompany.com/sample_request?id=10410&type=smp

 

The Center Pivot Irrigation System Global Market Report 2024  provides comprehensive insights on the center pivot irrigation system market size, trends and drivers, opportunities, strategies, and competitor analysis. The countries covered in the center pivot irrigation system market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

 

View More Related Reports –
Sprinkler Irrigation Global Market Report 2024
Microirrigation Systems Global Market Report 2024
Smart Irrigation Global Market Report 2024

 

Learn More About The Business Research Company
The Business Research Company has published over 3000+ detailed industry reports, spanning over 3000+ market segments and 60 geographies. The reports draw on 1,500,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders.

 

Contact us at:
The Business Research Company: https://www.thebusinessresearchcompany.com/
Americas +1 3156230293
Asia +44 2071930708
Europe +44 2071930708
Email us at info@tbrc.info

 

Follow us on:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model

Leave a Reply

Your email address will not be published. Required fields are marked *