Growth Drivers
Shifting preferences towards modern techniques of irrigation
The budding awareness related to the benefits of sprinkler irrigation among farmers is triggering a rapid shift from flood irrigation towards sprinkler systems, globally. The key factor boosting this trend includes the distress concerning the disadvantages of flood irrigation such as poor water-use efficiency, incompetency to irrigate uneven terrains, and uneven water distribution. The return on investment accompanying the cost after 2-3 years, along with the accessibility to a wide range of sprinkler system machinery, encourage producers to implement sprinkler irrigation systems.
Growing need to feed population despite COVID-19 pandemic will propel growth
The agricultural industry is adversely affected by the current outbreak of COVID19 that has impelled all businesses to come at a halt. Nevertheless, crop cultivation and irrigation have coped up to survive in developing countries such as Pakistan, India, South Africa, China, and others. The worth of sprinkler systems has witnessed widespread rise due to its low labor association and cumulative need for crop irrigation to feed the population even during the coronavirus occurrence and global declaration of lockdown. However, in the developed nation-states of Europe and North America, the sprinkler irrigation systems market is stable on account of the availability of automated sprinkler systems.
Additionally, increased government subsidy on the usage of sprinkler irrigation systems especially in agriculture-dominant countries such as India and China, and the launch of several favorable programs by government and non-government organizations to help farmers are also contributing significantly towards the sprinkler irrigation systems market growth.
Furthermore, the technological advancements in the existing irrigation systems for better monitoring and control of water resources and higher efficiency, growing demand for better yield and quality of crops, decrease in labor costs, and ease of operations is anticipated to supplement the overall sprinkler irrigation systems market growth during the forecast period.
Challenges
High initial arrangement and maintenance cost
The type of technology impacts the selection of irrigation methods to a greater extent. The high installation expenses involved in the set-up of irrigation system in the field has been expected to be a restraining factor towards the sprinkler irrigation systems market’s growth. This factor is especially limiting the market growth in the price-sensitive developing nations of South America and Asia-Pacific and the poor, underdeveloped countries of Africa. The buying of equipment needs high capital investment per hectare, along with this, a steady supply of fuel and spare parts must be upheld which together might put a huge burden on the farmers and farming community.
Base Year |
2023 |
Forecast Year |
2024–2036 |
CAGR |
3.2% |
Base Year Market Size (2023) |
USD 3.12 billion |
Forecast Year Market Size (2036) |
USD 4.7 billion |
Regional Scope |
|
Author Credits: Nilanjana Ray
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