The Latin America Center Pivot Irrigation Systems Market was worth $210.17 million in 2021 and estimated to be growing at a CAGR of 15.63%, to reach $415.55 million by 2026. The market is showcasing evident potential in the mentioned forecast period due to the abundance of unirrigated lands being converted to mechanized irrigation, shrinking arable land, and higher production compared to the rain-fed crops.
Center Pivot Irrigation is a method of crop irrigation in which the equipment is made to rotate around a fixed pivot and the crop is watered by the sprinklers. Center Pivot Irrigation System needs lesser water supply than other irrigation techniques and saves labour costs being less labor-intensive. Thus, CPI systems are experiencing growth in most regions of the world lately.
Drivers and Restraints:
The following factors have the greatest impact on the growth of the center pivot irrigation systems market include efficiency in water resource usage in case of droughts, rising requirements of high yielding and better quality crops, technological enhancements in the CPI systems, and high returns on investments as compared to alternative irrigation systems. The center pivot irrigation systems are facing challenges mainly due to the lower demands from the economies which are labor-intensive for the most part and additionally because of the lack of subsidies for the CPI systems thus requiring high initial investments. Further, the systems require continuous maintenance, and the currency exchange rates are highly unfavorable, thus creating more restraints in the growth of center pivot irrigation systems.
The cereal crops segment accounted for the highest revenue followed by the oilseeds and pulses segment. Intensive growth in cereal crop demands and the use of cereal in animal feed and biofuels drive the application of center pivot irrigation systems in cereal crops. When taking field type into consideration, the large field segment accounted for the largest market share in 2016. Center pivot irrigation systems are widely employed in large fields, the reason being high returns of investment and reduced cost per acre. In the mobility category, the stationary center pivot irrigation systems have a larger market share compared to the mobile systems, due to the feasibility and ease of use of stationary systems in large fields.
On the basis of geography, the Latin America market is analyzed under various regions namely Brazil, Argentina, Mexico, and the Rest of Latin America.
Major Key Players:
Some of the market leaders of the CPI systems market include T-L Irrigation Company, Netafim Limited, RoEhren- Und Pumpenwerk, Lindsay Corporation, Valmont Industries, Alkhorayef Group, , Reinke Manufacturing Company Inc., Grupo Fockink, Vodar (Tianjin) Co. Ltd, Pierce Corporation Ltd., Bauer GmbH , Rainfine (Dalian) Irrigation Co.
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