NEW YORK, July 16, 2015 /PRNewswire/ -- The mechanized irrigation systems market has grown exponentially in the last few years and this trend is projected to continue. The market was valued at $2,070.21 million in 2013 and is projected to grow at a CAGR of 15.3% during 2014 to 2019. Rising population, increasing food requirements, increasing awareness among farmers regarding the benefits of mechanized irrigation systems, low cost of irrigation from mechanized technology, and government promotions for mechanized irrigation systems are the key factors propelling the growth of the global mechanized irrigation systems market.
The mechanized irrigation systems market is led by North America, followed by the Asia-Pacific region. The U.S. mechanized irrigation systems market not only dominates in North America, but also the global market. The Asia-Pacific region is projected to be the fastest-growing mechanized irrigation systems market globally from 2014 to 2019. Brazil is the major market in the RoW region owing to the increasing population and increasing expenditure on highly mechanized irrigation systems.
In this report, the mechanized irrigation systems market has been segmented on the basis of types, applications, and regions. New product launches was the most preferred growth strategy in the mechanized irrigation systems market. The purpose of adopting this strategy is that it results in enhanced geographic presence and clientele. Major players such as Valmont Industries (U.S.) and Lindsay Corporation (U.S.) collectively accounted for more than half of the global mechanized irrigation systems market and are focusing on strengthening their product range. The other major players in the market are Rivulis Irrigation (Israel), The Toro Company (U.S.), Jain Irrigation Systems Limited (India), Nelson Irrigation Corporation (U.S.), Netafim Limited (Israel), Rain Bird Corporation (U.S.), T-L Irrigation Co. (U.S.), and EPC Industries Limited (India).
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