Center Pivot Irrigation Systems Market Size to grow by USD 1203.3 million between 2024-2028
Technavio, a leading provider of market research reports, has released its latest study on Center Pivot Irrigation Systems Market. This report offers a comprehensive analysis of the current market trends, emerging opportunities, and key challenges.
Key Highlights:
The market size is estimated to grow by USD 1203.3 million, at a CAGR of 13.2% during the forecast period. In the agricultural sector, center pivot irrigation systems have gained significant traction as a preferred solution for irrigating greenhouses. The global food demand surge has compelled farmers to innovate and adopt advanced farming techniques, such as indoor vertical farming, automation, robotics, and livestock technology, to boost output. Consequently, the expansion of farming operations in this direction has led to an increased demand for center pivot irrigation systems. Furthermore, government initiatives to promote greenhouse agriculture in numerous countries, coupled with the strategic growth plans of agriculture companies in Australia, are expected to fuel the market growth for center pivot irrigation systems during the forecast period.
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The Center Pivot Irrigation Systems market represents a significant business opportunity for manufacturers and suppliers. These systems, which automate the irrigation process through circular movement, offer substantial water savings and increased crop yields. Key market drivers include agricultural expansion, water scarcity concerns, and technological advancements. Companies focusing on energy efficiency, durability, and customization will likely gain a competitive edge.
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