Global Automatic Irrigation Equipment Market 2017-2021
About Automatic Irrigation Equipment
Automatic irrigation equipment is used to irrigate the field with minimum manual intervention, make the process more efficient, and allow workers to concentrate on other important farming tasks. Automatic irrigation systems are promoted by vendors and governments worldwide to minimize water wastage during irrigation and increase crop yield. As a result, there has been an increase in the adoption of effective irrigation systems, through the installation of automatic irrigation equipment, to address the rising water scarcity issues. An automatic irrigation system provides water efficiency of up to 97%-98%, which helps end-users cut costs and preserve valuable natural resources.
Technavio’s analysts forecast the global automatic irrigation equipment market to grow at a CAGR of 14.22% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global automatic irrigation equipment market for 2017-2021. To calculate the market size, the report considers the revenue generated from the retail sales of automatic irrigation equipment.The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Automatic Irrigation Equipment Market 2017-2021
Technavio recognizes the following companies as the key players in the global automatic irrigation equipment market: Jain Irrigation Systems, Netafim, Rain Bird, and The Toro Company.
Other Prominent Vendors in the market are: Hunter Industries, Lindsay, Lawn genie, Mazzei, Nelson Irrigation, Irritrol, and Orbit Irrigation Products.
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is increasing interest in landscaping. Landscaping has gained popularity in the services industry. Landscaping not only provides a serene retreat to relax, it also increases property value and renders environmental benefits (absorbs carbon dioxide and reduces air pollution). The need to enhance the aesthetics of residential and commercial properties through landscaping will positively impact the demand for automatic irrigation equipment, to maintain grounds and yards. There will also be a replacement demand from landscaping companies for equipment that they delayed replacing during the recession period.”
According to the report, one driver in the market is rising water scarcity. Demographic changes due to rapid urbanization industrialization have resulted in unsustainable economic practices and degradation of natural resources. One of the leading problems cropping up due to these factors is water shortage across the globe. For instance, over the past three years, California in the US has been facing an unprecedented drought. The environmental disaster recorded in August 2015 was the Aral Sea shrinkage. The rising need for water along with issues related to water management, has resulted into making water an expensive resource.
Further, the report states that one challenge in the market is inconsistent commodity prices. In the past decade, there has been a rise and fall in commodity prices. In 2012 and 2013, the prices fell because of surplus grain supplies across the world. For instance, price of maize peaked at $8 per bushel during the 2012 drought in the US, which increased farm income in 2013. The current price has fallen below $4 per bushel, which is considerably affecting farmers as abundance of grain supplies is reducing farm income and weakening farmers' profits. This is especially true in the case of farmers in developed regions such as North America and Europe.
Jain Irrigation Systems, Netafim, Rain Bird, The Toro Company, Hunter Industries, Lindsay, Lawn genie, Mazzei, Nelson Irrigation, Irritrol, and Orbit Irrigation Products.
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